Wire stories category, Page 82
Fed keeps rate near zero but sees brighter economy in 2021
The Federal Reserve said Wednesday that it will keep buying government bonds until the economy makes “substantial” progress — a step intended to reassure financial markets and keep long-term borrowing rates low indefinitely. The Fed also reiterated after its latest policy meeting that expects keep its short-term benchmark interest rate...
S&P 500 nears record following stimulus progress, Fed moves
NEW YORK — The S&P 500 ticked up to the edge of its record Wednesday after the Federal Reserve pledged to keep buying bonds until the economy makes substantial progress from its virus-wracked state. In a mixed and muted day of trading, the S&P 500 rose 6.55 points, or 0.2%,...
How to spot fake shopping sites and avoid being scammed
NEW YORK — Ben Black bought what he thought was a well-priced drone online. But the drone never showed up, the site stopped responding to his emails and he never got his $100 back. He was scammed. “I’m I got caught in it,” says Black, who lives in Westminster,...
Stocks climb on Wall Street, breaking a 4-day losing streak
NEW YORK — Stocks notched broad gains Tuesday on Wall Street as renewed optimism that Washington will deliver more aid to the struggling economy put investors in a buying mood. The S&P 500 climbed 1.3%, snapping a four-day losing streak. Technology companies powered much of the rally, which helped push...
U.S. stocks end mostly lower after an early rally evaporates
Stocks ended mostly lower on Wall Street Monday after an early rally evaporated. In the U.S., investors are waiting to see if Congress can break a logjam on delivering more aid to people, businesses and local governments affected by the coronavirus pandemic, while in Europe talks continue on trying to...
Apple’s app stores open new privacy window for customers
CUPERTINO, Calif. — Apple has begun spelling out what kinds of personal information is being collected by the digital services displayed in its app stores for iPhones and other products made by the trendsetting company. Starting Monday, the additional disclosures will begin to appear in apps made for iPads, Mac...
Visa, Mastercard won’t allow charges for services on Pornhub
Mastercard and Visa said Thursday they would block their customers from using the credit cards to make purchases on Pornhub following accusations the pornographic website showed videos of rape and underage sex. They reacted following an investigation by opinion columnist Nicholas Kristof of The New York Times that also alleged...
Inflation still a no-show, US wholesale prices up just 0.1%
U.S. wholesale prices edged up just 0.1% in November with the economic disruption from the pandemic continuing to suppress demand and keeping inflation at extremely low levels. The increase in the producer price index, which measures inflation pressures before they reach the consumer, followed bigger gains of 0.3% in October...
Stocks extend losses as virus aid languishes in Congress
NEW YORK — U.S. stocks fell in afternoon trading Friday as prospects for another aid package from Washington faded while a surge in virus cases threatens to inflict more damage on an already battered economy. Investors have been hoping for another financial lifeline to help cushion the latest blow from...
Airbnb shares more than double in price in long-awaited IPO
Airbnb proved its resilience in a year that has upended global travel. Now it needs to prove to investors that it sees more growth ahead. The San Francisco-based home sharing company made a triumphant debut on the public market Thursday, with its shares more than doubling in price to open...
Stock indexes end mixed as damage to the economy piles upVideo
U.S. stock indexes closed mostly lower Thursday following more evidence that the pandemic is tightening its grip on the economy while Congress remains in a stalemate over how to do something about it. The S&P 500 slipped 0.1% after flipping between gains and losses in the early going. The index...
U.S. jobless claims jump to 853,000 amid resurgence of virus
WASHINGTON — The number of people applying for unemployment aid jumped last week to 853,000, the most since September, evidence that companies are cutting more jobs as new virus cases spiral higher. The Labor Department said Thursday that the number of applications increased from 716,000 the previous week. Before the...
GM’s Cruise to deploy fully driverless cars in San Francisco
SAN RAMON, Calif. — General Motors’ self-driving car company is sending vehicles without anybody behind the wheel in San Francisco as it navigates its way toward launching a robotic taxi service that would compete against Uber and Lyft in the hometown of the leading ride-hailing services. The move announced Wednesday...
Like everything else 2020, taxes will be like no other year
It’s the time of year to start thinking about taxes — but the upcoming filing season is going to be a bit trickier for many Americans due to rampant unemployment, working from home and general upheaval due to COVID-19. Here are a few pandemic specific conditions — good and bad...
U.S. stocks slip on Wall Street; S&P 500 backs off record
NEW YORK — U.S. stocks are are slipping Wednesday and pulling back from their recent record highs as virus cases surge and coronavirus vaccines move closer to distribution. A vaccine from Pfizer and German partner BioNTech, which is already in use in the U.K., is on track for a positive...
Steady gains for stocks deliver more records on Wall StreetVideo
Technology and health care companies helped drive stocks to more gains Tuesday, leading to more milestones on Wall Street. The S&P 500 index rose 0.3%, eclipsing the all-time high it set on Friday. The Nasdaq composite and Russell 2000 index of small company stocks also set record highs. The likelihood...
A bleak outlook for millions facing cutoff of jobless aid
INDIANAPOLIS — Tina Morton recently faced a choice: Pay bills or buy a birthday gift for a child? Derrisa Green is falling further behind on rent. Sylvia Soliz has had her electricity cut off. Unemployment has forced aching decisions on millions of Americans and their families in the face of...
Stock indexes shake off a weak start and end mostly higherVideo
Stocks shook off a sluggish start to finish with modest gains Wednesday, nudging the S&P 500 index to an all-time high for the second straight day. The benchmark index rose 0.2% after spending much of the day drifting between small gains and losses. About 54% of the stocks in the...
Fed reports slowing economic activity because of coronavirus surge
WASHINGTON — A Federal Reserve survey of business conditions around the country found that economic activity in several regions slowed in November as coronavirus cases surged. The Fed report released Wednesday said that overall, the Fed’s 12 regional banks characterized the economic expansion as “modest or moderate.” But it noted...
Salesforce buying work-chat service Slack for $27.7 billionVideo
SAN RAMON, Calif. — Business software pioneer Salesforce.com is buying work-chatting service Slack for $27.7 billion in a deal aimed at giving the two companies a better shot at competing against longtime industry powerhouse Microsoft. The acquisition announced Tuesday is by far the largest in the 21-year history of Salesforce....
Treasury Secretary Steve Mnuchin defends shutdown of Fed emergency loan programsVideo
WASHINGTON — Treasury Secretary Steven Mnuchin is defending his decision to close down a number of emergency Federal Reserve loan programs at a time when coronavirus cases are surging. Democrats were unconvinced, however, saying that Mnuchin’s actions are politically motivated and intended to remove tools that the Biden administration could...
Sephora to open hundreds of beauty shops inside Kohl’s stores
Sephora will open hundreds of beauty shops inside Kohl’s department stores starting next fall, the retailer said Tuesday, just weeks after Ulta Beauty and Target announced a similar partnership. The 2,500-square-foot Sephora shops will replace Kohl’s current beauty department at the front of the store and carry makeup, skin care,...
Strong start to December as S&P 500 index sets another high
Stocks scored more record highs on Wall Street on Tuesday, a day after the S&P 500 closed out November with its biggest monthly gain since April. The benchmark index climbed 1.1% while the tech-heavy Nasdaq added 1.3%. Both beat the all-time highs they set on Friday. Stocks have been ramping...
GAO says weekly unemployment benefits report flawed
WASHINGTON — A government watchdog has found that the Labor Department’s widely watched weekly unemployment benefits data are providing an inaccurate reading on the number of newly laid off workers because of flaws in the government’s data collection. The Government Accountability Office said in a report Monday that the Labor...
Stocks slip, but S&P 500 still logs best month since April
NEW YORK — Stocks pulled back slightly from their record levels Monday as Wall Street put a quiet coda on one of its most rocking months in decades. The S&P 500 fell 0.5%, but the benchmark index still clocked a surge of 10.8% for the month, its biggest monthly gain...
