Wire stories category, Page 25
Honda recalls select Accords and HR-Vs over missing piece in seat belt pretensioners
NEW YORK — Honda is recalling select 2023-2024 Accord and HR-V vehicles due to a missing piece in the front seat belt pretensioners, which could increase injury risks during a crash. According to notices published by Honda and the National Highway Safety Traffic Administration earlier this week, the pretensioners —...
Retailers offer big deals for Black Friday, but will shoppers spend?
NEW YORK — Expect big discounts and other enticements to lure shoppers to stores for Black Friday. But retailers worry those may not be enough. Consumers are coming under pressure as their savings dwindle and their credit card debt grows. And although they have gotten some relief from easing inflation,...
More Americans are expected to ‘buy now, pay later’ for the holidays. Analysts see a growing risk
NEW YORK — Consumers are expected to use “buy now, pay later” payment plans heavily this holiday season, a forecast that bodes well for retailers but that has credit experts again sounding alarm bells. The short-term loans often come with consumer-friendly interest rates and allow shoppers to make an initial...
U.S. unemployment claims drop by 24,000 to 209,000, another sign of labor market resiliency
WASHINGTON — The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates. The Labor Department reported Wednesday that jobless claims dropped by 24,000 to 209,000. The previous week’s total — 233,000 — had been the highest...
U.S. egg producers conspired to fix prices from 2004 to 2008, a federal jury ruled
INDIANAPOLIS — An Illinois jury ruled this week that several major egg producers conspired to limit the U.S.’s supply of eggs in order to raise prices in a case stemming from a federal lawsuit originally filed 12 years ago. Several large food manufacturing companies including Kraft Foods Global, Inc. and...
Wall Street gains ground, led by travel-related companies
NEW YORK — Stocks rose on Wall Street Wednesday, led by big gains in travel-related companies as energy prices drop. The S&P 500 rose 0.5% and remains on track for a modest gain in a holiday-shortened week ahead of the Thanksgiving holiday in the U.S. The Dow Jones Industrial Average...
Largest crypto exchange Binance fined $4 billion, CEO pleads guilty to not stopping money launderingVideo
WASHINGTON — The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform. Zhao...
Millennial Money: How to set good money examples for kids
Kids notice everything, whether you think they’re paying attention or not. They repeat the curse words you blurt out when you step on a toy, and spill your embarrassing family secrets to their friends. From a surprisingly early age, the kids in your life also notice money: who has it,...
Home sales slumped to slowest pace in more than 13 years in October as prices, borrowing costs soar
LOS ANGELES — Sales of previously occupied U.S. homes slumped in October to their slowest pace in more than 13 years as surging mortgage rates and rising prices kept many prospective homebuyers on the sidelines. Existing home sales fell 4.1% last month from September to a seasonally adjusted annual rate...
Key Fed official sees possible ‘golden path’ toward lower inflation without a recession
WASHINGTON — Austan Goolsbee, president of the Federal Reserve Bank of Chicago, suggested Monday that the economy appears to be on what he calls the “golden path,” another term for what economists call a “soft landing,” in which the Fed would curb inflation without causing a deep recession. “Any time...
Shippers anticipate being able to meet holiday demand
Carriers like the U.S. Postal Service, FedEx and United Parcel Service have capacity to meet projected demand this holiday season, which is cheery news for shippers and shoppers alike. Like last year, there’s expected to be little drama compared to struggles during the pandemic when people hunkered down at home...
Company that created ChatGPT is thrown into turmoil after Microsoft hires its ousted CEO
The company that created ChatGPT was thrown into turmoil Monday after Microsoft hired its ousted CEO and many more employees threatened to follow him in a conflict that centered in part on the safest way to build artificial intelligence. The developments followed a weekend of drama that shocked the AI...
Want to buy now, pay later this holiday season? Ask yourself these 5 questions first
Shoppers gearing up for the 2023 holiday season won’t have to look hard for a convenient way to pay for all those presents. ” Buy now, pay later,” a type of payment plan that divides the total cost of your purchase into smaller installments, is offered at most major retailers,...
From Hollywood to auto work, organized labor is flexing its muscles. Where do unions stand today?
NEW YORK — Once again, U.S. labor unions are flexing their muscles in the national spotlight. In Hollywood, the actors union reached a tentative deal with major studios late Wednesday to end a months-long strike. Las Vegas hotel workers also scored breakthough agreements with Caesars Entertainment and MGM Resorts International...
SAG-AFTRA committee approves deal with studios to end historic strike
LOS ANGELES — SAG-AFTRA’s negotiating committee has approved a a tentative deal with the major studios that would end a nearly four-month-long strike that has sidelined thousands of workers. The tentative contract — which still must be ratified by the union’s board and members — would boost minimum pay for...
Adidas says it may write off remaining unsold Yeezy shoes after breakup with Ye
FRANKFURT, Germany — Adidas said it might have to write off the remaining 300 million euros ($320 million) worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West. The company will decide in the coming weeks whether or not to do a...
WeWork seeks bankruptcy protection, a stunning fall for a firm once valued at close to $50 billion
NEW YORK — WeWork has filed for Chapter 11 bankruptcy protection, a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world. In a late Monday announcement, WeWork said it entered into a...
Starbucks increases U.S. hourly wages and adds other benefits for non-union workers
Starbucks is increasing pay and benefits for most of its U.S. hourly workers after ending its fiscal year with record sales. But the company said Monday that unionized workers won’t be eligible for some of those perks, a sign of the continuing tension between the Seattle coffee giant and the...
Tyson recalls 30,000 pounds of chicken nuggets after consumers report finding metal pieces
Tyson Foods is recalling nearly 30,000 pounds of breaded chicken “”Fun Nuggets” after consumers complained of finding metal pieces in the dinosaur-shaped patties. The nuggets, sold in 29-ounce bags, were produced on Sept. 5 by the Berryville, Ark., company. Tyson informed the U.S. Department of Agriculture’s Food Safety and Inspection...
More fruit pouches for kids are being recalled because of illnesses that are linked to lead
Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls. The U.S. Food and Drug Administration said it has received reports of seven illnesses in at least five states possibly linked to...
FTX founder Sam-Bankman-Fried convicted of defrauding cryptocurrency customers
NEW YORK — FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl advertisement and dreams of a future run for president — hit a new bottom Thursday when a New York jury convicted him of...
Average long-term U.S. mortgage rate slips to 7.76% in first drop after climbing 7 weeks in a row
LOS ANGELES — The average rate on the benchmark 30-year home loan fell slightly this week, ending a seven-week climb — modest relief for prospective homebuyers grappling with an increasingly unaffordable housing market. The average rate on the benchmark 30-year home loan fell to 7.76% from 7.79% last week, mortgage...
Uber and Lyft to pay $328M in New York wage theft settlement
ALBANY, N.Y. — Ride-hailing companies Uber and Lyft will pay a combined $328 million to settle wage theft claims in New York, Attorney General Letitia James announced Thursday. James said the settlements resolve investigations into the companies improperly charging drivers sales taxes and other fees when customers should have paid...
Disney says it expects to pay $8.6 billion for Comcast’s Hulu stake
The Walt Disney Co. is proceeding with its buyout of Comcast Corp.’s stake in streaming service Hulu — a major step in the Burbank entertainment giant’s pivot to streaming. The move was expected. Months ago, Comcast Chief Executive Brian Roberts signaled that the Philadelphia cable giant was planning to divest...
Federal Reserve leaves its key rate unchanged but keeps open possibility of a future hikeVideo
WASHINGTON — The Federal Reserve kept its key short-term interest rate unchanged Wednesday for a second straight time but left the door open to further rate hikes if inflation pressures should accelerate in the months ahead. The Fed said in a statement after its latest meeting that it would keep...
