Wire stories category, Page 80
Budweiser joins Coke, Pepsi brands in sitting out Super Bowl
NEW YORK — For the first time since 1983, when Anheuser-Busch used all of its ad time to introduce a beer called Bud Light, the beer giant isn’t advertising its iconic Budweiser brand during the Super Bowl. Instead, it’s donating the money it would have spent on the ad to...
Stocks slip on Wall Street as worldwide rally takes a pause
NEW YORK — Wall Street is tapping the brakes on its record-setting rally this week, as markets worldwide take a pause on Friday. The S&P 500 was 0.1% lower in afternoon trading, a day after inching up to its second straight all-time high. The Dow Jones Industrial Average was down...
Stocks drift to mixed close; S&P 500 ekes out another record
NEW YORK — Stock indexes capped a day of choppy trading with a mixed finish Thursday, though solid gains by technology companies helped lift the S&P 500 and Nasdaq composite to more record highs. The S&P 500 edged up less than 0.1%. Traders bid up shares in Big Tech stocks,...
NRA says it is ‘not afraid’ of New York lawsuit, will continue fight
The National Rifle Association of America is “not afraid” of a lawsuit threatening it with dissolution in New York and is prepared to proceed with the legal battle despite its bankruptcy filing, a lawyer for the group said in court. The gun rights group is “not in any way attempting...
Wall Street hits records as hopes build for more stimulus
NEW YORK — Wall Street marked the dawn of President Joe Biden’s administration with stocks rallying to record highs as hopes build that new leadership in Washington will mean more support for the struggling U.S. economy. The S&P 500 rose 1.4%, topping its previous all-time high set earlier this month....
GM teams up with Microsoft on driverless cars
SILVER SPRING, Md. — General Motors is teaming up with Microsoft to accelerate its rollout of electric, self-driving cars. In the partnership announced Tuesday, the companies said Microsoft’s Azure cloud and edge computing platform would be used to “commercialize its unique autonomous vehicle solutions at scale.” Microsoft joins General Motors,...
Wall Street’s momentum swings back as stocks, yields tick up
Wall Street kicked off a holiday-shortened week with broad gains for stocks Tuesday, as the market recovered most of its losses from last week. The S&P 500 gained 0.8%, pulling to within 1% of its record high set earlier this month. About 60% of the companies in the benchmark index...
Canada urges Biden not to cancel Keystone XL pipeline on first day
TORONTO — Top officials in Canada want a chance to make the case for a long disputed oil pipeline to be built amid reports President-elect Joe Biden will cancel Keystone XL. Alberta Premier Jason Kenney said Monday he will seek legal damages if reports are true that Biden plans to...
Stocks fall as economy’s pain deepens, head for weekly loss
NEW YORK — Stocks are pulling lower on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. The S&P 500 was down 0.5% in afternoon trading, with stocks of companies that most need a healthier economy taking the...
Retail federation: Holiday sales up 8.3% amid big spending shift
NEW YORK — The nation’s largest retail trade group said Friday that holiday sales soared 8.3%, far exceeding its forecast even as the coronavirus kept shoppers away from physical stores. The National Retail Federation had expected growth in a range of 3.6% to 5.2% for the November and December period...
Wall Street drifts, as even Treasury yields slow their rise
NEW YORK — U.S. stocks are drifting Wednesday as Wall Street continues a pause from its big recent rally, and even Treasury yields are stalling following their rapid rise. The S&P 500 was 0.3% higher after flipping between small gains and losses in early trading. It remains close to its...
Stocks drift on Wall Street; Treasury yields keep rallying
U.S. stocks are drifting close to their record heights Tuesday, while Treasury yields keep marching higher amid expectations that the economy will pull out of its slump after a powerful recovery sweeps the globe later this year. The S&P 500 was virtually unchanged after the first 15 minutes of trading....
Report: Cumulus Media tells radio hosts stop stolen election talk
NEW YORK — The ownership group for several talk radio hosts across the country, including syndicated figures such as Mark Levin and Dan Bongino, says its personalities need to tone things down or face firing. Cumulus Media content chief Brian Philips sent an email to managers Wednesday, the day of...
Cleaning up SolarWinds hack may cost as much as $100 billion
WASHINGTON — American businesses and government agencies could be spending upward of $100 billion over many months to contain and fix the damage from the Russian hack against the SolarWinds software used by so many Fortune 500 companies and U.S. government departments. “Unlike good wine, this case continues to get...
Wall Street distances itself from Trump, GOP after riots
A growing number of Wall Street banks and businesses have cut ties with President Donald Trump’s campaign and financial arms, as well as the broader Republican Party, following last week’s riots and insurrection at the U.S. Capitol. The financial technology company Stripe has stopped processing payments for the Trump campaign,...
Chunky bootmaker Dr. Martens to sell shares to public
The maker of Dr. Martens boots, the chunky-soled footwear once championed by rebellious young people but now favored by celebrities like Rihanna, plans to sell shares to the public as the existing owners seek to profit from growth of the iconic brand. Dr. Martens Ltd. said Monday that current investors...
Stocks slip as Wall Street takes a breather after 4-day run
Stocks are slipping Monday as trading cools on Wall Street and in markets around the world following their strong record-setting runs. The S&P 500 was 0.5% lower in late morning trading and on pace to take a breather from a four-day winning streak that carried it to more all-time highs....
Businesses rethink political donations as a result of Capitol siege
Businesses are rethinking political contributions in the wake of the deadly Capitol siege by President Donald Trump’s supporters on Wednesday. Citigroup confirmed Sunday that it is pausing all federal political donations for the first three months of the year. In a memo to employees Friday, Citi’s head of global government...
Hyundai recalls 471K more SUVs, tells owners to park outside
DETROIT — Hyundai is adding about 471,000 SUVs to a September U.S. recall for an electrical short in a computer that could cause fires. And the company is warning owners to park the SUVs outdoors until they are repaired. The latest recall covers certain model-year 2016 through 2018, and additional...
New campaign, and logo, for GM in a bid to electrify image
General Motors is changing its corporate logo and launching an electric vehicle marketing campaign to reshape its image as clean vehicle company, rather than a builder of gas-powered pickups and SUVs. The 112-year-old Detroit automaker has promised to roll out 30 new battery-powered vehicles globally by the end of 2025...
Wall Street drifts near records following weak jobs report
U.S. stock indexes are wavering between small gains and losses Friday, following a sober reminder of how many jobs the pandemic is destroying. The S&P 500 was up 0.1% after swinging between gains and losses of 0.5%. The benchmark index climbed to an all-time high a day earlier. Gains in...
Boeing will pay $2.5 billion to settle charge over 737 Max
Boeing will pay $2.5 billion to settle a Justice Department investigation and admit that employees misled regulators about the safety of its 737 Max aircraft, which suffered two deadly crashes shortly after entering airline service. The government and the company said Thursday that the settlement includes money for the crash...
Amazon pledges $2 billion to affordable housing in 3 U.S. cities
Amazon will direct $2 billion in loans and grants to secure affordable housing near three American cities where the company employs thousands of workers, the tech giant announced Wednesday. In a first step in the Puget Sound region, Amazon is promising $185.5 million, mostly in loans, to the King County...
Wall Street rallies again on Democratic wins, stimulus hopes
Wall Street is climbing to new heights again Thursday on expectations that the Democratic sweep of Washington means more stimulus is likely on the way for the economy. The S&P 500 was 1.2% higher in the first trading after Congress confirmed Joe Biden as the winner of the presidential election...
U.S. trade deficit jumps to $68.1 billion in November
The U.S. trade deficit jumped to $68.1 billion in November, the highest monthly deficit in 14 years, as a surge in imports overwhelmed a smaller increase in exports. The November gap between what America buys from abroad compared to what it sells abroad rose by 8% from the October deficit...
