Wire stories category, Page 107
U.S. home sales rose 2.5% in July, aided by low mortgage rates
WASHINGTON — U.S. home sales increased 2.5% in July, a sign that lower mortgage rates have produced a spurt of home-buying. The National Association of Realtors said Wednesday homes sold last month at a seasonally adjusted annualized rate of 5.42 million units, up from 5.29 million in June. Average interest...
Is online shoe-buying bad for kids’ feet?
CHICAGO — It’s a back-to-school tradition: a visit to the neighborhood shoe store, where employees pull out a well-worn metal foot measuring tool from under a seat to measure children’s feet, fit them with the right shoes, and send them out the door, frequently wearing the new kicks. Generations of...
Long-sought Volcker Rule revisions land on a changed Wall Street
NEW YORK — Wall Street spent the better part of a decade battling for regulators to reshape the reviled Volcker Rule. When the changes finally landed Tuesday, the win felt more symbolic. The Federal Deposit Insurance Corp. and other regulators rolled out tweaks that clarify which trades are prohibited and...
U.S. airlines expect record crowds over Labor Day weekend
DALLAS — Airlines expect record crowds over the week-long Labor Day period, continuing a rise in travel that has boosted the airlines’ profits all year. The trade group Airlines for America forecast Tuesday that 17.5 million passengers will fly on U.S. carriers between Aug. 28 and Sept. 3. That would...
U.S. extends limited reprieve on tech sales to China’s Huawei
The Trump administration has extended a limited reprieve on U.S. technology sales to Huawei, even as questions remain over how much of an effect broader sanctions are having on the Chinese technology giant. Huawei has become enmeshed in the trade war between Washington and Beijing, with President Trump showing a...
Brand-name drug prices rising at slower pace, lower amounts
TRENTON, N.J. — Drug companies are still raising prices for brand-name prescription medicines, just not as often or by as much as they used to, according to an Associated Press analysis. After years of frequent list price hikes, many drugmakers are showing some restraint, according to the analysis of drug...
U.S. gives Huawei a 90-day reprieve on technology trade ban
NEW YORK — Commerce Secretary Wilbur Ross says the U.S. will extend by 90 days the ability of Chinese telecommunications giant Huawei to buy supplies from U.S. companies. It’s the second extension for Huawei, a company that the U.S. sees as a national security risk. The comments Monday from Ross...
Beer named for Pacific island nuke test site draws criticismVideo
HAGATNA, Guam — A Texas-based company is facing criticism for naming a beer after the location of nuclear tests that resulted in the contamination of a Pacific island chain, a report said. Manhattan Project Beer Company is under scrutiny by Marshall Islanders who were exposed to high levels of radiation...
Ohio newspaper to begin publishing Vindicator edition
YOUNGSTOWN, Ohio — A daily newspaper in Ohio has purchased the name and subscriber list of The Vindicator in Youngstown, which is publishing its final edition Aug. 31. Vindicator owner and general manager Mark Brown said Friday The Tribune Chronicle in Warren also is buying the Vindy.com website and will...
Stock indexes end mostly higher after volatile day
Investors rode out another turbulent day on Wall Street on Thursday that kept stock indexes flipping between gains and losses until a late-day bounce gave the market a modest gain. Worries about a possible recession collided with hopes that the strongest part of the economy — shoppers spending at stores...
High-end bling: Tiffany launching men’s jewelry collection
NEW YORK — Tiffany & Co. is launching its first comprehensive jewelry collection for men in October as the upscale chain taps into a trend popularized by the likes of Jay-Z and John Mayer. The move, announced Thursday, is part of the Tiffany’s strategy to attract millennials and pump up...
Dow plunges as bond market flashes recession warning for first time since 2007Video
NEW YORK —The threat of a recession doesn’t seem so remote anymore for investors in financial markets. The yield on the closely watched 10-year Treasury fell so low Wednesday that, for the first time since 2007, it briefly crossed a threshold that has correctly predicted many past recessions. Weak economic...
U.S. budget deficit already exceeds last year’s total figure
WASHINGTON — The U.S. fiscal deficit has already exceeded the full-year figure for last year, as spending growth outpaces revenue. The gap grew to $866.8 billion in the first 10 months of the fiscal year, up 27% from the same period a year earlier, the Treasury Department said in an...
Verizon sells early social-media darling Tumblr
NEW YORK — Verizon is selling Tumblr, a darling of early social media, to the owner of blogging platform WordPress. Tumblr is known for its devoted fan base and has been home to angry posts from celebrities such as Taylor Swift. It angered many users last year when it banned...
Major U.S. stock indexes cap turbulent week
Stocks capped a turbulent week with another decline Friday as investors worry that a resolution in the U.S.-China trade dispute is a long way off. Escalating tension over trade between the world’s two biggest economies was the catalyst for big swings in the market this week. President Donald Trump indicated...
Technology companies power broad rally for U.S. stocks
Technology companies powered stocks broadly higher on Wall Street on Thursday, driving the S&P 500 to its best day in more than two months and erasing its losses for the week. The rally, which pushed the Dow Jones Industrial Average up by more than 370 points, followed an early rise...
Pizza Hut may shutter as many as 500 dine-in locations
Food Business News is reporting that as many as 500 older dine-in Pizza Hut restaurants in the country could close as the chain increases its focus on delivery/carryout. The chain has not announced which restaurants will close. “We are leaning in to accelerate the transition of our Pizza Hut U.S....
How to keep your razors from contributing to landfill waste
NEW YORK — How bad is your disposable razor for the environment? The question is gaining attention among consumers amid a growing global campaign against plastic waste, with cities and countries introducing bans on single-use plastic bags and straws. Don’t worry, there’s no talk of banning your razor, which isn’t...
Walgreens to shut 200 U.S. stores as part of cost-cutting plan
NEW YORK — Pharmacy chain Walgreens plans to close 200 stores in the United States as it seeks to cut costs. The company said in a regulatory filing Tuesday the closings are part of its previously announced plan to trim costs by $1.5 billion in a few years. In May,...
U.S. stocks notch solid gains as China stabilizes currency
Stocks closed broadly higher Tuesday as Wall Street regained its footing a day after the market had its biggest decline in a year. The bounce pushed the Dow Jones Industrial Average more than 300 points higher and snapped a six-day losing streak for the market, though the benchmark S&P 500...
Top Trump economic adviser Kudlow sees ‘no signs’ of recession amid trade war
WASHINGTON — Lawrence Kudlow, President Trump’s chief economic adviser, predicted Tuesday that “calmer heads” will prevail in an escalating trade confrontation between the U.S. and China even as he offered few concrete signposts for progress. The former CNBC analyst’s comments come as U.S. and global markets are slumping over worries...
Trump’s tariffs could blot out positive economic story
WASHINGTON — Just last week, solid economic numbers appeared to be helping President Trump’s reelection prospects. The United States had achieved its longest economic expansion. Stock prices were climbing. Job gains were steady. Consumers had scaled up spending. Growth was sturdy enough to presage a second term for a conventional...
Amazon’s self-driving delivery robots head to California
Amazon’s self-driving robots will be roaming the streets of another neighborhood. The online shopping giant said Tuesday that the six-wheeled robots, about the size of a smaller cooler, will begin delivering packages to customers in Irvine, California. It comes after Amazon began testing them in a suburb of Seattle at...
The Apple credit card is here
NEW YORK — The Apple credit card designed primarily for mobile use is here. Some iPhone users who requested a notification about Apple Card will get invites Tuesday to apply through Apple’s Wallet app. The company plans to expand sign-ups more broadly in coming weeks. The card, announced in March...
GateHouse, Gannett to merge for $1.4B, build newspaper giant
NEW YORK — Two of the largest U.S. newspaper companies have agreed to combine for roughly $1.4 billion, creating a new industry giant that hopes to manage the crisis of print’s decline through sheer size. GateHouse Media, a fast-growing chain backed by an investment firm, is buying USA Today owner...
