Wire stories category, Page 20
Biden adminstration finalizes rule to grant overtime for millions more salaried workers
NEW YORK — The Biden administration has finalized a new rule set to make millions of more salaried workers eligible for overtime pay in the U.S. The move marks the largest expansion in federal overtime eligibility seen in decades. Starting July 1, employers will be required pay overtime to salaried...
New FTC rule would bar ‘noncompete’ agreements for most employees
WASHINGTON — U.S. companies would no longer be able to bar employees from taking jobs with competitors under a rule approved by a federal agency Tuesday, though the rule is sure to be challenged in court. The Federal Trade Commission voted Tuesday 3-2 to ban measures known as noncompete agreements,...
Trump called this visa ‘very bad’ for Americans. Truth Social applied for one
MIAMI — The social media company founded by former President Donald Trump applied for a business visa program that he sought to restrict during his administration and which many of his allies want him to curtail in a potential second term. Trump Media & Technology Group, the company behind Truth...
FTC sues to block $8.5 billion merger of Coach, Michael Kors parent companies
The U.S. Federal Trade Commission sued to stop Tapestry Inc.’s $8.5 billion takeover of rival Capri Holdings Ltd., marking the first time the Biden administration has used its aggressive antitrust enforcement to try to stop a deal in the fashion accessories sector. Antitrust enforcers said Tapestry’s acquisition of Capri would...
Tennessee’s GOP governor says Volkswagen plant workers made a mistake in union vote
GALLATIN, Tenn. — Tennessee Republican Gov. Bill Lee said Monday that he thinks workers at a Volkswagen plant in Chattanooga made a mistake by voting to unionize under the United Auto Workers in a landslide election but acknowledged the choice was ultimately up to them. Ahead of the vote, Lee...
Express files for Chapter 11 bankruptcy protection, announces store closures
NEW YORK — Express Inc — once a trendsetter of casual office attire that has struggled to compete with the likes of Zara and H&M — has filed for Chapter 11 bankruptcy protection. The retailer based in Columbus, Ohio, and founded in 1980 also said Monday it is seeking to...
Tesla cuts the price of its Full Self Driving system by a third to $8,000
NEW YORK — Tesla knocked roughly a third off the price of its Full Self Driving system — which can’t drive itself and so drivers must remain alert and be ready to intervene — to $8,000 from $12,000, according to the company website. Tesla CEO and billionaire Elon Musk promised...
Netflix now has nearly 270 million subscribers after another strong showing to begin 2024
Netflix gained another 9.3 million subscribers to start the year while its profit soared with the help of a still-emerging expansion into advertising, but caught investors off guard with a change that will make it more difficult to track the video streaming service’s future growth. The performance announced Thursday demonstrated...
Seafood chain Red Lobster considering bankruptcy
Red Lobster is considering filing for Chapter 11 bankruptcy, according to a report. The seafood chain is considering a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to a Bloomberg News report citing people with knowledge of the matter. The chain is looking to rid itself...
Sluggish start for spring homebuying season as home sales fall in March with mortgage rates rising
LOS ANGELES — The spring homebuying season is off to a sluggish start as home shoppers contend with elevated mortgage rates and rising prices. Sales of previously occupied U.S. homes fell 4.3% in March from the previous month to a seasonally adjusted annual rate of 4.19 million, the National Association...
Starbucks introducing cold drink cup made with less plastic
Booming sales of cold drinks at Starbucks have created a problem: growing amounts of plastic waste from the single-use cups that Frappuccinos, Refreshers, cold brews and other iced drinks are served in. The coffee giant said Thursday it plans to alleviate some of that waste with new disposable cups that...
Biden administration recruits 15 states to help enforce airline consumer laws
The Biden administration is enlisting the help of officials in 15 states to enforce consumer-protection laws covering airline travelers, a power that by law is limited to the federal government. The Department of Transportation said Tuesday that the states, which include California, New York and Illinois, will help ensure that...
Cheap mortgages deter workers from relocating for $250,000 jobs
Manager recruits in the industrial Midwest are shunning offers to move to the American South — in part because they’re locked into super-low 30-year mortgages. A tight labor market that’s allowing workers to stay closer to home, rising housing costs and a post-pandemic shift toward remote or hybrid-work arrangements are...
The IRS is quicker to answer the phone on this Tax Day
WASHINGTON — On this Tax Day, the IRS is promoting the customer service improvements the agency rolled out since receiving tens of billions in new funding dollars through Democrats’ Inflation Reduction Act. From cutting phone wait times to digitizing more documents and improving the “Where’s My Refund” tool to show...
Bob Casey, Sherrod Brown press Biden to stop U.S. Steel-Nippon deal
WASHINGTON — Two steel-state Democrats in tough reelection fights are urging President Joe Biden to do more to stop the proposed acquisition of U.S. Steel by Japan-based Nippon Steel Corp. “We’re pushing the White House on national security grounds and on trade enforcement,” Sen. Sherrod Brown of Ohio told Bloomberg...
Goofy sued for negligence, inflicting trauma, in Disneyland collision
LOS ANGELES — Oh, Goofy, what have you done now? Katrina Amian Redfern Griffin was bent over, tying her daughter’s shoes during a trip to Disneyland in April 2022, when a park employee dressed as Goofy — the klutzy but lovable cartoon canine — barreled straight into her, according to...
Fewer Americans file for jobless claims as labor market continues to shrug off higher interest rates
WASHINGTON — Fewer Americans applied for jobless benefits last week as the labor market continues to thrive despite the Federal Reserve’s efforts to cool it. The Labor Department reported Thursday that filings for unemployment claims for the week ending April 6 fell by 11,000 to 211,000 from the previous week’s...
Internet providers must now be more transparent about fees, pricing, FCC says
NEW YORK — Much like nutritional labels on food products, “broadband labels” for internet packages will soon tell you just what is going into the pricing of your service, thanks to new rules adopted by the Federal Communications Commission this week. “If you’ve ever shopped for home or mobile internet,...
2 years after its historic win, a divided Amazon Labor Union lurches toward a leadership election
Two years after clinching a historic victory at a warehouse in New York City, the first labor union for Amazon workers in the United States is divided, running out of money and fighting over an election that could determine who will lead the group in the near future. Despite campaigns...
Will China flood the globe with EVs, green tech? What’s behind latest US-China trade fight
WASHINGTON — China’s burgeoning production of electric cars and other green technologies has become a flashpoint in a new U.S.-China trade fight, highlighted by Treasury Secretary Janet Yellen during her five-day visit to China and seized on by former President Donald Trump in incendiary remarks on the campaign trail. China...
P&G recalls 8.2 million bags of Tide, Gain and other laundry detergents over packaging defect
NEW YORK — Procter & Gamble is recalling more than 8 million bags of Tide, Gain, Ace and Ariel laundry detergent packets sold in the U.S. and Canada due to a defect in the products’ child-resistant packaging. According to Friday notices from both P&G and product-safety regulators in the U.S....
Justice Department can reopen Realtors case, court says
The Justice Department can reopen an antitrust probe into the National Association of Realtors, an appeals court ruled Friday, rejecting a bid by the real estate trade group to enforce a 2020 settlement with the Trump administration to close the case. “The fact that DOJ ‘closed its investigation’ does not...
Target’s latest ads feature Kristen Wiig’s SNL ‘Target Lady’ and Prince’s music
Target has brought the “Target Lady” back with her bowl cut, red vest and overexuberant approach to customer service and all things “Tergit” to help get out the word out about Target Circle Week and changes to the retailer’s loyalty program. It’s the first time the Minneapolis-based retailer has tapped...
Google to purge billions of files containing personal data in settlement of Chrome privacy case
SAN FRANCISCO — Google has agreed to purge billions of records containing personal information collected from more than 136 million people in the U.S. surfing the internet through its Chrome web browser. The massive housecleaning comes as part of a settlement in a lawsuit accusing the search giant of illegal...
Trump Media stock falls more than 21% after company discloses $58 million loss for 2023
NEW YORK — Less than a week after a flashy stock market debut, Donald Trump’s social media company Monday disclosed it lost nearly $58.2 million last year, sending its stock tumbling more than 21%. Losses in 2023 for Trump Media & Technology Group — whose flagship product is Truth Social...
