Wire stories category, Page 18
New-vehicle sales barely rose in the 2nd quarter as buyers balked at still-high prices
DETROIT — U.S. new-vehicle sales rose only slightly in the second quarter, despite larger discounts and slightly lower prices. But brisker sales could be on the horizon: Auto industry analysts say they expect prices to drop further and there’s a possibility of interest-rate cuts that would make taking out a...
Cedar Fair CEO takes over Six Flags as merger closes
After months of waiting, Six Flags and Cedar Fair’s merger has finally closed, creating one theme park giant. The move will consolidate both company’s parks under one company and, most importantly to Texans, move Six Flags’ corporate headquarters from Arlington, Texas, to Charlotte, North Carolina. The merger unites both companies...
U.S. wants Boeing to plead guilty to fraud over fatal crashes, lawyers say
The U.S. Justice Department is pushing Boeing to plead guilty to criminal fraud in connection with two deadly plane crashes involving its 737 Max jetliners, according to several people who heard federal prosecutors detail a proposed offer Sunday. Boeing will have until the end of the coming week to accept...
Boeing in talks with DOJ to resolve charges over safety lapses
WASHINGTON — Boeing Co. is in talks with the U.S. Justice Department to resolve potential charges stemming from two fatal crashes of its 737 Max jetliners, according to people familiar with the negotiations. The settlement could be announced as soon as next week and is expected to include imposing a...
U.S. miners’ union head: Republican effort to block silica dust rule ‘attack’ on workers
CHARLESTON, W.Va. — The head of the national mine workers’ union Friday condemned what he characterized as an effort by House Republicans to block enforcement of a long-awaited federal rule directed at curbing workers’ exposure to poisonous, deadly rock dust, calling it “a direct attack on the health and safety...
Prospect of low-priced Chinese EVs reaching U.S. from Mexico poses threat to automakers
WASHINGTON — It’s a scenario that terrifies America’s auto industry. Chinese carmakers set up shop in Mexico to exploit North American trade rules. Once in place, they send ultra-low-priced electric vehicles streaming into the United States. As the Chinese EVs go on sale across the country, America’s homegrown EVs —...
Homebuyers beat high interest rates with 1980s-era assumable mortgages
Last year, after Deb Jerikovsky’s husband died, she decided to swap the lake home where they planned to spend retirement for a house in that’s closer to family. She put that plan on hold, however, once she realized 7% mortgage rates would force her to dip too deeply into her...
Average long-term U.S. mortgage rate falls again, easing to lowest level since early April
LOS ANGELES — Home loan borrowing costs eased again this week as the average rate on a 30-year mortgage declined to its lowest level since early April. The rate fell to 6.87% from 6.95% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.67%. This...
Dollar Tree left lead-tainted applesauce pouches on store shelves for weeks after recall, FDA says
Dollar Tree failed to effectively recall lead-tainted applesauce pouches linked to reports of illness in more than 500 children, leaving the products on some stores shelves for two months, the Food and Drug Administration said Tuesday. The FDA sent a warning letter to Dollar Tree this month and placed Negasmart,...
Southwest plane plunged within 400 feet of ocean near Hawaii
A Southwest Airlines Co. passenger flight in April came within 400 feet of slamming into the ocean off the coast of Hawaii after weather conditions forced pilots to bypass a landing attempt. The Boeing Co. 737 Max 8 jet briefly dropped at an abnormally high rate of more than 4,000...
Federal Reserve sees some progress on inflation but envisions just 1 rate cut this yearVideo
WASHINGTON — Federal Reserve officials said Wednesday that inflation has fallen further toward their target level in recent months but signaled that they expect to cut their benchmark interest rate just once this year. The policymakers’ forecast for one rate cut was down from a previous forecast of three, because...
Gas prices are falling. Experts point to mild demand at the pump ahead of summer travel
NEW YORK — Gas prices are once again on the decline across the country, bringing some relief to drivers now paying a little less to fill up their tanks. The national average for gas prices on Monday stood around $3.44, according to AAA. That’s down about 9 cents from a...
Kia recalls nearly 463,000 Telluride SUVs due to fire risk, urges consumers to park outside
NEW YORK — Kia America is recalling nearly 463,000 Telluride SUVs — and urging owners to park their cars outside and away from other structures until an issue posing a fire hazard is fixed. The front power seat motor on the affected Tellurides from the 2020-2024 model years might overheat...
Markets surge to record highs as Nvidia tops $3 trillion in total valueVideo
NEW YORK — Wall Street barreled to records Wednesday as its frenzy around artificial-intelligence technology keeps sending stocks higher. The rally sent the total market value of Nvidia, which has become the poster child of the AI boom, above $3 trillion for the first time. The S&P 500 climbed 1.2%...
What will become of The Epoch Times with its chief financial officer accused of money laundering?
NEW YORK — The arrest of an executive at The Epoch Times in a money-laundering scheme this week has drawn attention to a media outlet that has lived largely in the shadows since its founding in 2000 and a transformation during the Trump administration. Federal prosecutors in New York charged...
Oil producers led by Saudis extended supply cuts amid slack prices
FRANKFURT, Germany — Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven’t risen even amid turmoil in the Middle East and the start of the summer travel season. The OPEC+ alliance, made up of members...
T-Mobile to buy almost all of U.S Cellular in deal worth $4.4 billion with debt
T-Mobile is buying U.S. Cellular’s wireless operations and certain spectrum assets in a deal valued at $4.4 billion, and further consolidating the industry. T-Mobile would get more than 4 million new customers and control of U.S. Cellular’s wireless operations and about 30% of spectrum assets across several spectrum bands. T-Mobile...
Eli Lilly beefs up plan to expand manufacturing for popular drugs Zepbound, Mounjaro
Eli Lilly will spend more than $5 billion to expand an Indiana manufacturing site and eventually make more doses of its popular weight-loss and diabetes treatments, Zepbound and Mounjaro. The drugmaker said Friday that it was more than doubling its investment in a site near its Indianapolis headquarters. But it...
Independent booksellers continued to expand in 2023, with more than 200 new stores opening
NEW YORK — Three years ago, Erin Decker was a middle school librarian in Kissimmee, Florida, increasingly frustrated by the state’s book bans and worried that she couldn’t make a difference remaining in her job. So, she and fellow librarian Tania Galiñanes thought of a way to fight back. “We...
Government sues Ticketmaster owner and asks court to break up company’s monopoly on live events
WASHINGTON — The Justice Department sued Ticketmaster and its parent company Thursday, accusing them of running an illegal monopoly over live events in America and asking a court to break up the system that squelches competition and drives up prices for fans. Filed in federal court in Manhattan, the sweeping...
Buy now, pay later companies must adhere to credit card standards, consumer agency says
NEW YORK — Buy now, pay later companies must provide consumers with the same legal rights and protections as credit card lenders do, the Consumer Financial Protection Bureau said Wednesday in a new rule. That includes the right to demand a refund and to dispute transactions. The agency began an...
Nvidia’s profit soars, underscoring dominance in chips for artificial intelligence
SAN FRANCISCO — Nvidia on Wednesday overshot Wall Street estimates as its profit skyrocketed, bolstered by the chipmaking dominance that has made the company an icon of the artificial intelligence boom. Its net income rose more than sevenfold compared to a year earlier, jumping to $14.88 billion in its first...
Shutdown of fintech middleman Synapse freezes thousands of Americans’ deposits
NEW YORK — The bank accounts of tens of thousands of U.S. businesses and consumers have been frozen in the aftermath of the abrupt shutdown and bankruptcy of financial technology company Synapse, which acts as a middleman between financial technology companies and banks. Synapse filed for Chapter 11 bankruptcy protection...
Average U.S. vehicle age hits record 12.6 years as high prices force people to keep them longer
DETROIT — Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much. S&P Global Mobility, which tracks state vehicle registration data nationwide, said Wednesday that the...
White House says FDIC chairman to step down following report on agency’s ‘toxic culture’
NEW YORK — The White House said Monday that the chairman of the Federal Deposit Insurance Corporation will step down, a departure that follows the release earlier this month of a damning report about the agency’s toxic workplace culture. The White House said Martin Gruenberg will step down once a...
