Wire stories category, Page 74
Stocks rise as lower bond yields help lift tech companies
Technology companies led stocks to more gains Thursday on Wall Street, nudging the S&P 500 to an all-time high for the third time this week. The benchmark index rose 0.4% and is on track for its third straight weekly gain. Stocks within the S&P 500 were about evenly split between...
Stocks close mixed; S&P 500 notches another record high
Wall Street capped another choppy day of trading Wednesday with a mixed finish for stock indexes and another all-time high for the S&P 500. The benchmark index inched up 0.1% after spending much of the day wavering between small gains and losses. Technology, communication and financial companies helped lift the...
U.S. trade deficit jumps 4.8% to $71.1 billion in February
The U.S. trade deficit grew to a record $71.1 billion in February as a decline in exports more than offset a slight dip in imports, with severe weather taking much of the blame from analysts, who were expecting a slightly lower gap. The coronavirus pandemic has stifled global trade for...
Stocks slip on Wall Street as market eases back from records
A wobbly day of trading on Wall Street left stocks slightly lower Tuesday, pulling the market back from the all-time highs it reached a day earlier. The S&P 500 snapped a three-day winning streak, slipping 0.1% after wavering between small gains and losses much of the afternoon. Stocks within the...
Stocks close broadly higher after big job gains in March
Stocks on Wall Street notched broad gains Monday as investors welcomed more signs that the economy is on the path to recovery, The S&P 500 rose 1.4% to an all-time high after closing above the 4,000-point mark for the first time last Thursday. The Dow Jones Industrial Average also set...
Amazon apologizes to congressman for bogus ‘peeing’ tweet
NEW YORK — Amazon is sorry for tweeting about peeing. The company apologized in a late Friday blog post for a tweet it sent to a congressman more than a week ago denying that its employees work so hard they must urinate in empty water bottles. It also admitted that...
Global stocks rise; Treasury yields rally after jobs report
NEW YORK — Stocks rose in many of the markets worldwide that were open on Good Friday, while Treasury yields rallied after a report showed U.S. employers added hundreds of thousands more jobs last month than economists expected. The U.S. bond market closed early after an holiday-shortened session that saw...
Wall Street moves higher, pushing S&P 500 over 4,000 level
Stocks were moderately higher Thursday, helped by a rise in technology companies as well as smaller companies, which would benefit from a quickly growing economy. The S&P 500 rose 0.8% as of 11:44 a.m. Eastern, crossing the 4,000-point mark for the first time. The benchmark index is coming off its...
Wall Street ticks higher, led by tech and smaller stocks
NEW YORK — U.S. stocks are drifting higher in morning trading on Wednesday, as investors wait to hear the details about Washington’s next mammoth push for the economy. The S&P 500 was up 0.6%, ahead of a speech later in the day where President Joe Biden is expected to discuss...
Volkswagen hoaxes media with fake statement on name change
DETROIT — Volkswagen of America issued false statements this week saying it would change its brand name to “Voltswagen,” to stress its commitment to electric vehicles, only to reverse course Tuesday and admit that the supposed name change was a joke. Mark Gillies, a company spokesman, confirmed Tuesday that the...
NCAA, former athletes head to Supreme Court over how football, basketball players are rewarded
WASHINGTON — The NCAA and former college athletes are getting ready to play ball at the Supreme Court. With the March Madness basketball tournament ongoing, the high court will hear arguments Wednesday in a case about how colleges can reward athletes who play Division I basketball and football. The NCAA...
An unwelcome prank: Volkswagen purposely hoodwinks reporters
NEW YORK — Journalists are used to being wary about odd pranksters pulling April Fool’s Day hoaxes at this time of year. Few expect it from a multi-billion dollar corporation. Volkswagen admitted Tuesday that it had put out a false news release saying that it had changed the name of...
‘Lighting a fuse’: Amazon vote may spark more union pushes
What happens inside a warehouse in Bessemer, Alabama, could have major implications not just for the country’s second-largest employer but the labor movement at large. Organizers are pushing for some 6,000 Amazon workers there to join the Retail, Wholesale and Department Store Union on the promise it will lead to...
Stocks slip in mixed trading as rate pressure ratchets up
NEW YORK — Rising Treasury yields put pressure once more on big technology companies Tuesday, pulling U.S. stock indexes further below their recent all-time highs. The S&P 500 lost 0.3%. Health care stocks also dragged down the market, outweighing gains by banks, industrial stocks and companies that rely on consumer...
AP source: VW plans brand-name change to ‘Voltswagen’ in U.S.
DETROIT — Volkswagen plans to change its brand name in the United States to “Voltswagen” as its shifts its production increasingly toward electric vehicles and tries to distance itself from an emissions cheating scandal. A person briefed on the plan said a formal announcement is planned for Tuesday. The person...
Biden boosts offshore wind energy, wants to power 10M homes
The Biden administration is ramping up efforts to sharply increase offshore wind energy along the East Coast, announcing progress on a huge wind farm planned off the New Jersey coast and setting a goal to generate enough power to provide electricity for more than 10 million homes by 2030. Meeting...
News Corp. buys Houghton Mifflin Harcourt books division
Rupert Murdoch’s News Corp. is buying Houghton Mifflin Harcourt’s book-publishing division, with titles by J.R.R. Tolkien and the Curious George children’s series, for $349 million. News Corp. owns HarperCollins, one of the industry’s largest book publishers, and will operate the division, called HMH Books & Media, the New York company...
Paris court convicts, fines pharma firm for deadly diet pill
A French pharmaceutical company on Monday was ordered to pay hundreds of millions of euros in damages and fines for its role in one of the nation’s biggest modern health scandals, with a Paris court finding the firm guilty of manslaughter and other charges for selling a diabetes drug blamed...
Late fade pushes S&P 500 slightly below its record high
Stock indexes closed mostly lower Monday, pulling the S&P 500 slightly below the all-time high it set last week, while nudging the Dow Jones Industrial Average to another record high. The S&P 500 slipped 0.1%, recovering most of a 0.8% slide earlier in the day. Banks had some of the...
Stocks climb on Wall Street; S&P 500 on pace for weekly gain
NEW YORK — U.S. stocks are ticking higher Friday, erasing the market’s losses from earlier in the week and setting Wall Street up to avoid a second straight weekly drop. The S&P 500 was up 0.3% in afternoon trading, and some of the biggest gains came from companies whose profits...
In shift, oil industry group backs federal price on carbon
WASHINGTON — The oil and gas industry’s top lobbying group on Thursday endorsed a federal price on carbon dioxide emissions that contribute to global warming, a reversal of longstanding industry policy that comes as the Biden administration has pledged dramatic steps to address climate change. The American Petroleum Institute, whose...
Stocks pull mostly higher, shaking off some early wobblesVideo
Stocks regained their footing after an early slide and closed broadly higher Thursday, led by gains in financial and industrial companies. The S&P 500 rose 0.5% after having been down 0.9% in the early going. The gain is the benchmark index’s first in three days after a recent stretch of...
Gas driller to pay Pennsylvania $1.9M for damage to wetlands, waterways
HARRISBURG — One of the most active natural gas exploration firms in Pennsylvania has agreed to pay $1.9 million after it disclosed in 2014 that its construction work had damaged waterways and wetlands, without proper permits, according to paperwork filed in federal court on Wednesday. Officials from Chesapeake Energy Corp....
Treasury Secretary Yellen sees room for U.S. to borrow, opens door to tax hikeVideo
WASHINGTON — Treasury Secretary Janet Yellen believes the U.S. government has more room to borrow, but said higher taxes would likely be required in the long run to finance future spending increases. Yellen appeared Wednesday before the Senate Banking Committee with the Biden administration considering up to $3 trillion in...
A late slide, led by Big Tech, leaves stock indexes lowerVideo
A late-afternoon burst of selling on Wall Street erased an early gain for stocks Wednesday, pulling the market further below the all-time high it reached just a week ago. The S&P 500 dropped 0.5% after having been up 0.8% in the early going. Technology and communication services companies accounted for...
