Wire stories category, Page 23
IRS to simplify its notices to taxpayers in push for modernization
WASHINGTON — The IRS wants to rewrite its complicated letters to taxpayers and speak to people in plain English. The federal tax collector is rewriting and sending out commonly received notices ahead of the 2024 tax filing season as part of its new “Simple Notice Initiative.” “Redesigned notices will be...
Car insurance is surging. Here’s why — and how you can save
When Imani Porter received the quote for her car insurance renewal in December, she was flabbergasted. Geico, which had insured her and her fiancé’s Honda CR-V for the past year and a half, was going to charge the couple about $1,000 for the next six-month period. “I did the math...
TurboTax maker Intuit barred from advertising ‘free’ tax services without disclosing who’s eligible
NEW YORK — U.S. regulators have barred TurboTax maker Intuit Inc. from advertising its services as “free” unless they are free for all customers, or if eligibility is clearly disclosed. In an opinion and final order issued Monday, the Federal Trade Commission ruled that Intuit engaged in deceptive practices by...
WWE’s ‘Raw’ is moving to Netflix next year in a major streaming deal worth more than $5 billion
WWE’s weekly television show “Raw” will move to Netflix next year as part of a major streaming deal worth more than $5 billion. TKO Group Holdings Inc., which houses WWE and UFC, said in a regulatory filing on Tuesday that the agreement is for 10 years, with Netflix having an...
Wall Street ticks higher, closes above 38,000 for 1st time everVideo
NEW YORK — Most stocks rose Monday on Wall Street to build on its all-time high reached last week. The S&P 500 added 10.62 points, or 0.2%, to 4,850.43. The Dow Jones Industrial Average topped 38,000 points after rising 138.01, or 0.4%, to 38,001.81. The Nasdaq composite gained 49.32, or...
Pilots at Southwest ratify a contract that will boost their pay raises by nearly 50% by 2028
DALLAS — Pilots at Southwest Airlines have overwhelmingly approved a new contract that will raise their pay rates by nearly 50% by 2028, becoming the last group of pilots at the nation’s four biggest airlines to score huge raises. The Southwest Airlines Pilots Association said Monday that the agreement covering...
Liz Weston: Retiring wasn’t easy — even after years of writing about it
A couple of years ago, I wrote a column about how to have a retirement worth saving for. It ended with a quote from personal finance educator Barbara O’Neill, who reflected on how the pandemic disrupted many retirees’ plans. “It wasn’t just two years lost, it was two good years,”...
Sports Illustrated fires all staffers
Sports Illustrated, one of the most respected sports publications in the country since its inception in 1954, fired all of its staffers Friday, according to a report in the New York Post. The Post report stated that Sports Illustrated owner the Arena Group informed staffers of their termination Friday. SI...
2023 was slowest year for U.S. home sales in nearly 30 years as high mortgage rates frustrated buyers
LOS ANGELES — Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans. The National Association of Realtors said...
Winter weather is snarling air travel. Here’s what to do if your flight is canceled
A winter storm made its way across the eastern half of the United States on Wednesday, snarling traffic in the air and on the highways. By early afternoon in the East, more than 1,000 U.S. flights had been canceled and 4,000 others were delayed, according to FlightAware. The brunt of...
Boost for homebuyers: Average long-term mortgage rate falls to 6.6%, lowest level since May
LOS ANGELES — The average long-term U.S. mortgage rate fell this week to its lowest level since May, welcome news for prospective homebuyers facing rising home prices and intense competition for relatively few properties on the market. The average rate on a 30-year mortgage dropped to 6.6% from 6.66% last...
Amazon will invest in Diamond Sports as part of a bankruptcy restructuring agreement
Amazon will partner with Diamond Sports as part of a restructuring agreement as the largest owner of regional sports networks looks to emerge from bankruptcy. Diamond owns 18 networks under the Bally Sports banner. Those networks have the rights to 37 professional teams — 11 baseball, 15 NBA and 11...
Cutting interest rates too soon in Europe risks progress against inflation, central bank chief says
FRANKFURT, Germany — Cutting interest rates too soon could threaten Europe’s progress in battling the inflation that has ravaged the economy, the head of the European Central Bank said Wednesday amid widespread speculation that the bank will soon lower rates from record highs. Christine Lagarde, faced with market expectations for...
The JetBlue-Spirit Airlines merger was blocked by a federal judge. Here’s what you need to know
NEW YORK — The prospect of a JetBlue-Spirit Airlines merger took a major hit in court on Tuesday when a federal judge sided with the Biden administration and blocked the $3.8 billion deal. The judge ruled that JetBlue’s purchase of Spirit, the nation’s largest low-cost airline, would harm competition —...
Overdraft fees could drop to as low as $3 under new Biden proposal
NEW YORK — The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest effort by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck....
Engine maker Cummins to repair, replace 600,000 Ram trucks in $2 billion emissions cheating scandal
The Department of Justice has ordered a recall of 600,000 Ram trucks as part of a settlement that directs engine maker Cummins Inc. to remedy environmental damage it caused when it illegally installed emissions control software in several hundred thousand vehicles, skirting emissions testing. It released new details of the...
Shohei Ohtani’s Dodgers deal prompts California controller to ask Congress to cap deferred payments
SACRAMENTO, Calif. — California Controller Malia M. Cohen wants Congress to change the tax code to cap deferred payments, a change that could ensure the state is owed more money from Shohei Ohtani. Cohen made the request four weeks after the two-way star and the Los Angeles Dodgers agreed to...
Global economy will slow for 3rd straight year in 2024, World Bank predicts
WASHINGTON — Hobbled by high interest rates, persistent inflation, slumping trade and a diminished China, the global economy will slow for a third consecutive year in 2024. That is the picture sketched by the World Bank, which forecast Tuesday that the world economy will expand just 2.4% this year. That...
Boeing still hasn’t fixed this problem on Max jets, so it’s asking for an exemption to safety rules
DALLAS — Boeing is asking federal regulators to exempt a new model of its 737 Max airliner from a safety standard designed to prevent part of the engine housing from overheating and breaking off during flight. Federal officials said last year Boeing was working to fix the hazard on current...
LG Electronics partnering with West Virginia to advance renewable energy, telehealth businesses
CHARLESTON, W.Va. — LG Electronics is partnering with the state of West Virginia to develop technologies in renewable energy, telehealth and other industries in a planned $700 million investment over the next five years, Gov. Jim Justice announced. Businesses established in the venture through the South Korea company’s Santa Clara,...
New vehicle sales rise 12% as buyers shake off high prices, interest rates, and auto strikesVideo
DETROIT — Undeterred by high prices, rising interest rates, autoworker strikes and a computer-chip shortage that slowed assembly lines, American consumers still bought 15.6 million new vehicles last year, 12% more than in 2022, the biggest increase in more than a decade. Yet sales still haven’t returned to the 17...
Starbucks will let customers use their own cup at the drive-thru
Starbucks customers can now use their own personal cup in stores as well as for mobile orders and at the drive-thru. The initiative is part of the brand’s goal to reduce waste by 50% by 2030. Customers have been able to use their own cup when ordering in Starbucks cafes...
Zillow files antitrust suit against real estate listing services
Seattle-based Zillow is suing real estate listing services across the United States, arguing the services are forcing out a Zillow subsidiary to maintain illegal monopolies. If you’ve used Zillow to schedule a home tour recently, you’ve likely accessed a widely used, Zillow-owned scheduling platform called ShowingTime. That platform is now...
Social media companies made $11 billion in U.S. ad revenue from minors, Harvard study finds
Social media companies collectively made over $11 billion in U.S. advertising revenue from minors last year, according to a study from the Harvard T.H. Chan School of Public Health published on Wednesday. The researchers say the findings show a need for government regulation of social media since the companies that...
What stores are open and closed on Christmas Day in 2023? Hours for Walmart, Starbucks, CVS and more
NEW YORK — With Christmas right around the corner, you might want to check the list of what stores are open (and closed) twice. From retail to grocery chains, many companies across the U.S. close early on Christmas Eve and shut their doors entirely on Christmas Day — while others...
