Business category, Page 6
Texas seeks to block Kenvue dividend amid Tylenol lawsuit
Texas Attorney General Ken Paxton on Thursday asked a state judge to block Kenvue from paying a nearly $400 million shareholder dividend this month, after suing the drugmaker for allegedly concealing risks to children from the use of Tylenol by pregnant women. The Oct. 28 lawsuit against Kenvue and its...
U.S. airlines scramble to rework schedules as government orders flight cuts
U.S. airlines were scrambling on Thursday to rework schedules and fielding a flood of customer queries after the U.S. ordered flight cuts at some of the nation’s busiest airports, the latest travel disruption from the prolonged government shutdown. On Wednesday, Transportation Secretary Sean Duffy said he would order steep cuts...
Meta is earning a fortune on a deluge of fraudulent ads, internal documents show
Meta internally projected late last year that it would earn about 10% of its overall annual revenue – or $16 billion – from running advertising for scams and banned goods, internal company documents show. A cache of previously unreported documents reviewed by Reuters also shows that the social-media giant for...
Toyota recalling over a million U.S. vehicles over rear camera flaw
WASHINGTON — Toyota Motor said Wednesday it is recalling 1.02 million vehicles in the United States because of a flaw that may cause a rear-view camera to fail, boosting the risk of a crash. The recall covers certain 2022 through 2026 Toyota and Lexus model year vehicles — including Camry,...
Starbucks union says it plans to strike on Red Cup Day if contract not reached
Starbucks union members voted Wednesday to approve a strike across the United States on the coffee chain’s popular Red Cup Day next week unless a contract agreement is reached. In a statement, Starbucks Workers United announced the strike would begin next Thursday, the day Starbucks plans to celebrate its annual,...
Popular ice cream bars recalled in 31 states. The bars were shipped to Giant Eagle
The U.S. Food and Drug Administration has announced that a popular ice cream company is recalling some of its bars sold in 31 states. Dreyer’s Grand Ice Cream, based in Oakland, Calif., issued a voluntary recall of some Häagen-Dazs brand ice cream bars after an allergen was found, the FDA...
Musk the trillionaire? Debate over his Tesla pay package rages
NEW YORK — Elon Musk turned off many potential buyers of his Tesla cars and sent sales plunging with his foray into politics. But the stock has soared anyway and now he wants the company to pay him more — a lot more. Shareholders gathering Thursday for Tesla’s annual meeting...
Owners urged to park outside as Chrysler recalls 320,000 Jeeps for fire risk
WASHINGTON — Chrysler is recalling more than 320,000 Jeep plug-in hybrid vehicles because of a faulty battery that can fail and lead to a fire, U.S. traffic safety regulators said. Chrysler, which is owned by Netherlands-based Stellantis, is aware of 19 reports and 1 injury potentially related to the issue....
Pizza Hut’s parent company says it’s considering selling the chainVideo
Pizza Hut could soon be up for sale. Yum Brands, Pizza Hut’s parent company, said Tuesday it’s conducting a formal review of options for the brand, which has struggled to compete in a crowded pizza market. Yum CEO Chris Turner said Pizza Hut has many strengths, including a global footprint...
Apple to enter low-cost laptop market with budget Mac, Bloomberg News reports
Apple is preparing to launch a budget Mac in the first half of next year, entering the low-cost laptop market for the first time, Bloomberg News reported on Tuesday. The device, aimed to lure customers away from Google’s Chromebooks and entry-level Windows PCs, is made for students, businesses and casual...
Jeffrey Epstein had accounts with Goldman Sachs and HSBC, documents show
NEW YORK — Jeffrey Epstein, the disgraced late financier and sex offender, had accounts at Goldman Sachs, HSBC and other banks, new court filings show. The revelations came in previously sealed documents made public by JPMorgan Chase, once Epstein’s main bank, in a now-settled lawsuit brought by the U.S. Virgin...
U.S. motor vehicle sales drop in October as EV subsidies expire
WASHINGTON — Sales of U.S. light vehicles fell in October as the expiration of federal government subsidies undercut demand for battery-powered electric cars, and an easing labor market and looming higher prices from tariffs could limit any rebound this year. Light vehicle sales decreased 6.5% to a seasonally adjusted annualized...
U.S. Steel’s Edgar Thomson works getting new hot strip mill
U.S. Steel announced Tuesday that its Edgar Thomson Works is getting a hot strip mill, part of a $14 billion investment package across all company facilities from new owner Nippon Steel. In a 17-page report on its integration with Japan’s largest steelmaker, U.S. Steel described the planned mill as “state...
Starbucks to sell control of China business to Boyu, aims for rapid growth
Starbucks said it would sell control of its operations in China to Boyu Capital in a deal that values the business at $4 billion — one of the largest divestments of a China unit by a global consumer company in recent years. The Seattle-based coffee chain said the funds from...
Denny’s to be acquired and taken private in a deal valued at $620 million
Denny’s said Monday that it’s being acquired by a group on investors in a deal that will take the breakfast chain private. Denny’s board unanimously approved the deal, which values Denny’s at $620 million including debt. Denny’s will be purchased by private equity investment company TriArtisan Capital Advisors, investment firm...
YouTube proposes returning ABC, ESPN networks as a result of Disney’s request
YouTube TV has proposed restoring Disney’s ABC and ESPN networks, in response to the entertainment giant’s earlier request to bring back ABC to the pay-TV platform for Election Day coverage. Disney had earlier on Monday asked Google’s YouTube TV to restore ABC for Election Day coverage in service of public...
Trump moves to fire watchdog of U.S. housing regulator involved in crackdown, sources say
WASHINGTON — The internal watchdog for the U.S. Federal Housing Finance Agency is being removed from his role, four people familiar with the matter said, at a time when the housing regulator is playing a role in President Donald Trump’s targeting of perceived political enemies. The ouster of Joe Allen,...
U.S. economy at risk of wobble as lower-income consumers get squeezed
WASHINGTON -The U.S. consumer’s durability as a prop for the economy may be tested in coming weeks as family budgets, particularly among the less affluent, are stressed by rising healthcare costs, the potential loss of federal food benefits, and a wobbly job market outlook that is already taking a toll...
Kimberly-Clark’s $50 billion leap into health and beauty tests investor faith
NEW YORK — Kimberly-Clark’s nearly $50 billion offer for Tylenol maker Kenvue is a risky bet that the world’s biggest consumer market, the United States, will keep growing even as lower-income shoppers trim their budgets, according to analysts. The cash-and-stock deal, announced earlier on Monday, is set to close late...
Makes a lot of cents: Giant Eagle issues over $2 million in gift cards through penny exchange
From a few rolls held in one hand to buckets so heavy they were best hauled in a shopping cart, Giant Eagle’s double-your-money offer for pennies was too good for many to pass up Saturday. “With the way the economy is, every little extra bit of money helps. This is...
A toy maker takes his case against Trump’s tariffs to the Supreme Court
WASHINGTON — Within days of Donald Trump announcing his sweeping “Liberation Day” tariffs in April, Rick Woldenberg was looking for a law firm to help him sue the U.S. president. “I’m not willing to allow politicians to destroy what we have built up over generations,” said Woldenberg, CEO of educational...
Philips Respironics to lay off nearly 200 workers from Westmoreland locations
Dutch health technology giant Philips Respironics has notified state officials it plans to lay off nearly 200 people at three Westmoreland County locations beginning in early 2026. Philips issued a WARN notice to the Pennsylvania Department of Labor and Industry, part of a move the company initially announced in June...
Pittsburgh autonomous vehicle firm Aurora hits the gas on driverless truck rollout
Pittsburgh-based Aurora Innovation is accelerating the rollout of its driverless trucks as it looks to evolve from a promising experiment to a profitable enterprise. A new route that launched last week — the company’s second — runs from Fort Worth to El Paso in Texas. It spans about 600 miles....
The great AI buildout shows no sign of slowing
A momentous week in the technology sector made it clear there is no sign the boom in building artificial intelligence infrastructure is slowing — despite the bubble talk. Nvidia, whose processors are the AI revolution’s backbone, became the first company to surpass $5 trillion in market value. Microsoft and OpenAI...
What the latest Fed rate cut means for your money — even if the next one is not certain
NEW YORK - The U.S. Federal Reserve cut its key interest-rate target by a quarter of a percentage point on Wednesday. But Fed Chair Jerome Powell cautioned that another move in 2025 is not guaranteed. “A further reduction in the policy rate at the December meeting is not a foregone...
