Wire stories category, Page 44
U.S. futures inch down, oil higher after Russia price cap pact
U.S. futures dipped and oil prices rose Monday after the European Union and the Group of Seven democracies agreed on a boycott of most Russian oil and committed to a price cap of $60 per barrel on Russian exports. Futures for the Dow Jones Industrials and the S&P 500 were...
As Musk is learning, content moderation is a messy job
Now that he’s back on Twitter, neo-Nazi Andrew Anglin wants somebody to explain the rules. Anglin, the founder of an infamous neo-Nazi website, was reinstated Thursday, one of many previously banned users to benefit from an amnesty granted by Twitter’s new owner Elon Musk. The next day, Musk banished Ye,...
Stocks set to drop after jobs data fans inflation worries
Wall Street is set to fall when trading opens Friday on renewed worries about inflation after a report showed wages for U.S. workers are accelerating faster than expected. Futures for U.S. stock indexes fell sharply immediately after the government released the stronger-than-expected data on both wages and hiring. The report...
U.S. hiring stayed strong in November as employers add 263,000 jobs
WASHINGTON — The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a 53-year low, the...
China fines former NBA star Lin over quarantine comments
BEIJING — Former NBA star Jeremy Lin, who plays for a Chinese team, was fined 10,000 yuan ($1,400) for criticizing quarantine facilities, China’s professional league and a news report said Friday, as the government tries to stop protests against anti-virus controls that are among the world’s most stringent. Also Friday,...
An inflation gauge tracked by the Fed slows to still-high 6%
WASHINGTON — A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday’s report from the Commerce Department showed...
Is now the right time for your business to buy real estate?
For small businesses hoping to establish or expand their brick-and-mortar presence, it may seem like a bad time to sink cash into a commercial property purchase. Amid predictions of an upcoming recession, the Federal Reserve increased the federal funds rate for the sixth time in 2022, citing inflation risks and...
Mark Cuban’s prescription drug company in talks with hospitals to fill drug shortages
Mark Cuban’s prescription drug company, known for “cutting out the middle man,” is in conversations with hospitals around the nation to identify the most common drug shortages. The goal is to fill the gap by targeting production at its new manufacturing facility in Dallas toward cranking out the most needed...
GivingTuesday raises $3.1B for charities in tough economy
NEW YORK — GivingTuesday raised a record $3.1 billion in 24 hours for charitable causes in the U.S. earlier this week, as the event that started as a hashtag in 2012 celebrated its 10th anniversary and its status as a staple of fundraising for nonprofits, the group’s leader said Wednesday....
Media layoffs mount as CNN announces it will make cuts this week
CNN employees are in for a rough week as the news network’s chief, Chris Licht, told staff to prepare for a round of layoffs. The cuts have been anticipated as CNN parent Warner Bros. Discovery is looking for cost reductions across the company as it tries to bring down debt....
Stocks rally after Fed chair signals slowdown in rate hikesVideo
Wall Street closed out a solid November with a broad market rally Wednesday after the head of the Federal Reserve said the central bank could soon begin easing up on its aggressive interest rate increases aimed at taming inflation. Fed Chair Jerome Powell, speaking at the Brookings Institution, reaffirmed that...
Lordstown Motors shipping out first batch of electric trucks
LORDSTOWN, Ohio — Commercial electric vehicle startup Lordstown Motors has received approval to ship the first batch of its first model, the Endurance pickup. The company announced Tuesday that the first units of the initial batch of 500 trucks were leaving the plant after they passed safety tests and hit...
Amazon says it had its biggest Thanksgiving shopping weekend
NEW YORK — Amazon said Wednesday it had its biggest ever Thanksgiving holiday shopping weekend, aided by a record number of consumers looking for deals online amid high inflation. The e-commerce company does not typically share how much it earns during its sales events and did not disclose its overall...
West Virginia cash-for-worker program adds 4th destination
CHARLESTON, W.Va. — A program offering cash and free outdoor adventures to remote workers to move to West Virginia with the hope of offsetting population losses has welcomed 143 new residents in the year since it launched, officials announced Tuesday. The public-private program Ascend West Virginia said it has added...
Heating oil prices could go up as much as 45% in Pa.
Pennsylvania homeowners who use heating oil could see their bills increase 45% this winter due to higher prices and colder temperatures. The U.S. Energy Information Administration said this month that low inventory of fuels used for diesel and home heating oil will lead to high prices through the start of...
4 reasons for thrift store gifts this year
Thrifting is hot, and Goodwill finds are cool again. But while we’re thrilled to find the perfect throwback tee for our own closet, gifting used goods still carries a stigma for some. It shouldn’t. Secondhand gifts are better for your wallet, your community and the environment. “The planet is drowning...
U.S. consumer confidence falls in November for 2nd month
U.S. consumer confidence fell for the second straight month in November amid ongoing high inflation, rising interest rates, and layoffs in the tech sector. The Conference Board reported Tuesday that its consumer confidence index fell to 100.2 this month, down from 102.2 in October. November’s figure is the lowest since...
U.S. stocks edge higher in unsteady trading, oil prices rise
NEW YORK — Stocks edged mostly higher in unsteady trading on Wall Street Tuesday as some concerns dissipate over protests in China against that country’s severe covid restrictions. The S&P 500 rose 0.1% as of 10:19 a.m. Eastern after bobbing between small gains and losses throughout the morning. The Dow...
Stock indexes fall as lockdown protests spread in ChinaVideo
A broad slide on Wall Street left stocks lower Monday as global financial markets reacted to protests in China calling for President Xi Jinping to step down amid growing anger over severe covid-19 restrictions. The S&P 500 fell 1.5%, clawing back all of the benchmark index’s gains from last week....
Biden calls on Congress to head off potential rail strike
OMAHA, Neb. — President Joe Biden on Monday asked Congress to intervene and block a railroad strike before next month’s deadline in the stalled contract talks, and House Speaker Nancy Pelosi said lawmakers would take up legislation this week to impose the deal that unions agreed to in September. “Let...
Cyber Monday deals lure in consumers amid high inflation
NEW YORK — Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price because of high inflation. Cyber Monday is expected to remain the year’s biggest online shopping day and rake...
Holiday survival tips from 5 financial pros
For Ryan Decker, surviving the holiday shopping season is all about planning ahead. In fact, if he sees a gift for one of his two young sons in March, he’ll go ahead and buy it, instead of rushing through his shopping list in December. “It very much eases the burden,”...
Germany, France pledge mutual support to avert energy crunch
BERLIN — Germany and France pledged Friday to provide each other mutual support in preventing a possible energy crisis after supplies from Russia dried up amid the war in Ukraine. As part of a joint agreement signed by German Chancellor Olaf Scholz and French Prime Minister Elisabeth Borne, Germany will...
Taylor Swift’s NYC townhouse up for rent
NEW YORK — The 19th-century Manhattan townhouse that served as the inspiration for Taylor Swift’s 2019 song, “Cornelia Street,” is on the rental market. The historic West Village property, located at 23 Cornelia St., is available for $45,000 a month, according to Architectural Digest. Built in 1870, the four-bedroom, seven-bathroom...
Thanks, inflation: Cost of ’12 Days of Christmas’ items nears $200,000
The tune is oh so familiar. Not just the “and a partridge in a pear tree.” We’re talking “more than last year.” Financial services firm PNC has for 39 years compiled the consumer costs for those who would wish to make corresponding purchases for their true love replicating “The Twelve...
