Wire stories category, Page 120
Amazon reconsidering N.Y. headquarters site amid opposition
Amazon.com is reconsidering its plan to bring 25,000 jobs to a new campus in New York City following a wave of opposition from local politicians, according to two people familiar with the company’s thinking. The company has not leased or purchased office space for the project, making it easy to...
FDA says Walgreens has worst record of all pharmacies on selling tobacco to kids
Walgreens has the worst track record among all pharmacies when it comes to selling tobacco products to minors, the U.S. Food and Drug Administration said Thursday. The Deerfield, Ill.-based pharmacy chain has racked up nearly 1,800 violations since 2010 for selling tobacco products to kids, FDA Commissioner Scott Gottlieb said....
‘Creepy’ napkins on planes spur apologies from Delta, Coke
Napkins with printed slogans encouraging airline passengers to connect with fellow travelers must have seemed like a great idea to marketers. But some actual passengers were not so quick to embrace the idea of slipping personal information to a stranger. Paper napkins with Coca-Cola branding made an appearance on some...
AAA: Cold weather can cut electric car range by 40 percent
DETROIT — Cold temperatures can sap electric car batteries, temporarily reducing their range by more than 40 percent when interior heaters are used, a new study found. The study of five electric vehicles by AAA also found that high temperatures can cut into battery range, but not nearly as much...
BB&T, SunTrust merge to create nation’s 6th largest bank
NEW YORK — Southern banking giants BB&T and SunTrust announced they would merge in a $66 billion deal, the first big bank merger since the chaos of the 2008 financial crisis. The deal would create yet another financial titan in the United States. The combined company will be the sixth-largest...
Arconic names Chairman Plant CEO to oversee review after spurning Apollo
Arconic named Chairman John Plant to serve as chief executive officer, ousting Chip Blankenship just a little more than a year after he took the helm at the embattled manufacturer. Plant, the company’s fourth CEO in less than two years, is expected to serve in the top post for a...
Report shows economic clout of Kentucky bourbon over decade
FRANKFORT, Ky. — A decade ago, bourbon barons poured bottles of their precious amber liquid on the Kentucky Capitol steps to protest a looming tax hike. On Wednesday, industry officials stood with lawmakers to cheer another round of growth in the spirits sector. The cause for celebration was a new...
Craigslist founder donates $15 million for journalism ethics
PASADENA, Calif. — The founder of Craigslist says he will donate $15 million to Columbia University and the Poynter Institute for separate efforts promoting ethics in journalism. The announcement on Wednesday establishes Craig Newmark in the forefront of philanthropists focused on journalism, a cause he’s supported with some $85 million...
United to pursue high-fare travelers with more premium seats
United Airlines will woo high-fare passengers by retrofitting more than 100 planes to add more premium seats on key routes. The airline also plans to start using a new 50-seat jet with mostly premium seats on some key business-travel routes. United announced the moves Wednesday. They are part of an...
Trade hawks quietly bristle as Trump’s China deadline approaches
One of President Trump’s most persistent economic promises has been to rewrite the U.S. relationship with China. Yet as he approaches a potential deal, some of the very hawks who have cheered on Trump’s trade war already fear he may end up falling short. With less than a month before...
Gannett board rejects hostile takeover bid. But that may be just the start.
Gannett’s board of directors said Monday that it had rejected a $1.36 billion buyout bid from Digital First Media, questioning the would-be buyer’s motives and accusing it of trying to conceal the company’s “inability to finance and complete” the deal. “After careful review and consideration, conducted in consultation with its...
Trump to tap David Malpass, critic of World Bank, to lead it
WASHINGTON — The World Bank may be poised for a shake-up with President Trump planning to nominate David Malpass, who has been a critic of the bank, to lead the institution focused on global poverty. Malpass’ selection was confirmed by a senior administration official who spoke on condition of anonymity...
Crypto CEO dies holding only passwords that can unlock millions in customer coins
Digital-asset exchange Quadriga CX has a $200 million problem with no obvious solution — just the latest cautionary tale in the unregulated world of cryptocurrencies. The online startup can’t retrieve about $145 million in Bitcoin, Litecoin, Ether and other digital tokens held for its customers, according to court documents filed...
Sanders to pharma firm: Why are you charging $375,000 for life-saving drug?
Sen. Bernie Sanders, I-Vt., has sent a letter to Florida-based Catalyst Pharmaceuticals Inc. demanding to know why it is charging $375,000 for a drug that treats a rare disease. In the letter, released Monday, Sanders asked Catalyst CEO Patrick McEnany how many patients “will suffer or die” due to the...
Fiat Chrysler recalls over 660K trucks; steering could fail
DETROIT — Fiat Chrysler is recalling over 660,000 heavy-duty trucks worldwide because a loose nut can cause a loss of steering control. The recall covers Ram 3500 pickups from 2013 through 2017, as well as 2500 pickups and 3500 Chassis cabs from 2014 through 2017. The company says it’s aware...
S&P 500 win streak marks 5th day on solid company earnings
Technology companies helped lead stocks broadly higher on Wall Street Tuesday as strong earnings reports from several companies put investors in a buying mood. The rally, which briefly wavered around midday, extended the benchmark S&P 500 index’s winning streak to five days. Technology stocks, which have lagged the market in...
Lunar New Year allows U.S. companies to find prosperity too
As Asian-Americans across the U.S. mark the Lunar New Year on Tuesday, they can celebrate by eating Mickey Mouse-shaped tofu, sporting a pair of Year of the Pig-inspired Nike shoes and by snacking on pricey cupcakes. The delicacies and traditions that once made a generation of Asian-Americans feel foreign are...
Messaging platform provider Slack says it’s filed to go public
Slack Technologies Inc. said it has filed confidentially with regulators to list the company’s shares in the United States. The messaging platform company didn’t provide details of its plans in a statement Monday. Slack plans to forgo a traditional initial public offering and instead intends to sell its shares to...
Bud Light touches nerve with corn syrup Super Bowl ads
NEW YORK — Bud Light attacked rival brands in its Super Bowl ads, but it was the corn industry that felt stung. The spots trolled rival brands that use corn syrup. One showed a medieval caravan schlepping a huge barrel of corn syrup to castles owned by Miller and Coors....
Gannett turns down $1.36B buyout offer
MCLEAN, Va. — The publisher of USA Today and other newspapers is rejecting a $1.36 billion buyout from a hedge-fund backed media group with a history of taking over newspapers and slashing jobs. MNG Enterprises, better known as Digital First Media, made its unsolicited bid of $12 per share last...
GM plant closings will hit parts suppliers far and wide
TOLEDO, Ohio — The sting from a major restructuring at General Motors and its planned closings of five North American factories in the coming months is putting thousands of jobs at auto parts suppliers at stake, as well. While GM expects nearly all its U.S. blue-collar workers whose jobs are...
Stocks eke out gains after a bumpy day
NEW YORK — Stocks held on to tiny gains at the end of an up-and-down day of trading on Wall Street. Major indexes were higher for much of the morning as investors applauded the latest burst of hiring by U.S. employers. The enthusiasm was tempered, however, by a disappointing revenue...
U.S. employers add robust 304K jobs; joblessness up to 4%
WASHINGTON — U.S. employers shrugged off last month’s partial government shutdown and engaged in a burst of hiring in January, adding 304,000 jobs, the most in nearly a year. The healthy gain the government reported Friday illustrated the job market’s durability nearly a decade into the economic expansion. The U.S....
When marketing flops: 5 Super Bowl ads that backfired
Advertisers that spend millions of dollars on the Super Bowl are trying to avoid what the Ram truck company did with a Martin Luther King speech or what Groupon did spoofing promos for charities. Though such messages can get attention, it’s the wrong kind of attention. Groupon got buzz all...
U.S. average mortgage rates edge up; 30-year at 4.46 percent
WASHINGTON — U.S. long-term mortgage rates edged up after declining in recent weeks. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year, fixed-rate mortgage rose to 4.46 percent, from 4.45 percent last week. Despite the recent declines, home borrowing rates are above last year’s levels....
