Wire stories category, Page 2
Wall Street recovers from Friday’s shock as stocks rise, oil prices ease
NEW YORK — Calm returned to Wall Street on Monday as U.S. stocks rose and oil prices gave back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week. The S&P 500 climbed 0.9% to reclaim most of its drop...
Trump administration offers some details of how it would control U.S. Steel, but union raises concerns
CALGARY, Alberta — President Donald Trump would have unique influence over the operations of U.S. Steel under the terms of the investment being made by Nippon Steel. Administration officials over the past few days provided additional insight into the “golden share” arrangement that the federal government made as a condition...
Trump order, U.S. control clear path for Nippon Steel investment in U.S. Steel
WASHINGTON — President Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a “national security agreement” submitted by the federal government. Trump’s order didn’t detail the terms of the national security agreement....
Tesla stock plunges as Musk’s feud with Trump over GOP tax bill spooks investors
Shares of Elon Musk’s electric vehicle maker fell sharply Thursday as investors feared his dispute with President Donald Trump will hurt the company. Tesla closed down more than 14% as a disagreement over the U.S. president’s budget bill turned nasty. After Musk said that Trump wouldn’t haven’t gotten elected without...
Trump promises to hike steel and aluminum tariffs to 50% starting Wednesday. Here’s what we know
NEW YORK — President Donald Trump has promised to hike nearly all of his tariffs on foreign steel and aluminum to a punishing 50% on Wednesday, a move that would hammer businesses from automakers to home builders, and likely push up prices for consumers. Foreign-made steel and aluminum is used...
Dave’s Hot Chicken sold to Subway owner Roark Capital in a $1 billion deal
Dave’s Hot Chicken said Monday it has been acquired by the private equity firm Roark Capital in a deal valued at $1 billion. Dave’s Hot Chicken got its start in 2017 as a popup in a Los Angeles parking lot. It has grown exponentially since then and expects to end...
Already numb to tariff twists, U.S. importers see legal decisions as another price of doing business
NEW YORK — Businesses rattled by President Donald Trump’s on again, off again tariffs absorbed more jolts on Thursday after a U.S. appeals court temporarily blocked a federal court order that would have halted most of his taxes on foreign imports. A three-judge panel of the U.S. Court of International...
Average rate on a U.S. 30-year mortgage rises to 6.89%, its highest level since early February
The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since early February, further pushing up borrowing costs for homebuyers. The rate increased to 6.89% from 6.86% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.03%. Borrowing...
United is narrowing its check-in window for U.S. flights. Here’s how it compares to other airlines
NEW YORK — Stragglers beware: U.S. travelers flying with United Airlines will have to check in to domestic flights a little earlier starting next week. That is, if they’re customers only taking carry-on bags. Effective June 3, United’s “check-in cutoff” for most U.S. flights will be 45 minutes before departure....
Volvo Cars cutting 3,000 jobs to reduce costs
FRANKFURT, Germany — Sweden-based Volvo Cars is eliminating 3,000 positions as part of a cost-cutting program as the automotive industry faces challenges from trade tensions and resulting economic uncertainty. The company said Monday that around 1,200 of the job reductions would come among workers in Sweden, with another 1,000 positions...
Justice Department reaches deal to allow Boeing to avoid prosecution over 737 Max crashes
WASHINGTON — The Justice Department has reached a deal with Boeing that will allow the airplane giant to avoid criminal prosecution for allegedly misleading U.S. regulators about the 737 Max jetliner before two of the planes crashed and killed 346 people, according to court papers filed Friday. Under the “agreement...
DOGE targets Census Bureau, worrying data users about health of U.S. data infrastructure
The group launched by Elon Musk to cut federal spending in the second Trump administration is targeting some U.S. Census Bureau surveys it claims are “wasteful,” worrying users of federal data who are already concerned about the health of the nation’s statistical infrastructure. The Department of Government Efficiency said on...
Ex-Philadelphia officer convicted of manslaughter, not murder, in traffic stop shooting
PHILADELPHIA — A former Philadelphia police officer who shot and killed a motorist during a traffic stop has been acquitted of murder charges by a jury that did convict him of voluntary manslaughter and related counts. Mark Dial could face up to six years in prison when he’s sentenced in...
Budget cuts at Trump EPA become flashpoint at a heated hearing — and, Democrats say, may kill people
WASHINGTON — The head of the Environmental Protection Agency clashed with Democratic senators Wednesday, accusing one of being an “aspiring fiction writer” and saying another does not “care about wasting money.” Democrats countered that EPA Administrator Lee Zeldin’s tenure will likely mean more Americans contracting lung cancer and other illnesses....
Average rate on U.S. 30-year mortgage rises to 6.86%, its highest level since mid-February
The average rate on a 30-year mortgage in the U.S. climbed this week to its highest level since mid-February, a setback for home shoppers that threatens to slow sales further this spring homebuying season. The rate increased to 6.86% from 6.81% last week, mortgage buyer Freddie Mac said Thursday. A...
Stocks, bonds and the dollar drift after the latest downgrade to the U.S. government’s credit rating
NEW YORK — After recovering from an initial jolt, U.S. stocks, bonds and the value of the U.S. dollar drifted through a quiet Monday following the latest reminder that the U.S government may be hurtling toward an unsustainable mountain of debt. The S&P 500 edged up by 0.1% after Moody’s...
Here’s a story about the history of the Like button that you might like
SAN FRANCISCO — The internet wouldn’t be the same without the Like button, the thumbs-up icon that Facebook and other online services turned into digital catnip. Like it or not, the button has served as a creative catalyst, a dopamine delivery system and an emotional battering ram. It also became...
Retail sales slow in April after a spending splurge as Americans sought to front-run tariffs
WASHINGTON — U.S. consumers spent slightly more at retail stores last month after ramping up their shopping in March to get ahead of tariffs. Sales at retail stores and restaurants rose just 0.1% in April from March, the Commerce Department said Thursday. That is much lower than the previous month’s...
Chris Brown arrested in UK for alleged attack at London club in 2023
LONDON — Singer Chris Brown was arrested Thursday in England for allegedly hitting someone with a bottle in a London nightclub in 2023. The Metropolitan Police did not name Brown but said it took a 36-year-old into custody at a Manchester hotel on suspicion of causing grievous bodily harm. Under...
Average rate on a U.S. 30-year mortgage rises to 6.81%, its highest level since late April
The average rate on a 30-year mortgage in the U.S. edged above 6.8% this week, returning to where it was just three weeks ago. The rate increased to 6.81% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.02%. Borrowing costs on 15-year...
UN aid chief defends using ‘genocide’ in Gaza remarks to the Security Council that Israel rejects
UNITED NATIONS — The United Nations’ humanitarian chief has defended using the term “genocide” to describe what aid workers are trying to prevent in Gaza, saying the world should not make the same mistakes seen in past violations of international law, when it wasn’t “called out soon enough.” Tom Fletcher,...
Walmart says it will raise prices due to tariff costs after posting solid first quarter sales
NEW YORK — Walmart’s first-quarter profit slipped, and it said it must raise prices due to higher costs from tariffs implemented by President Donald Trump. The nation’s largest retailers posted strong quarterly sales Thursday and said it expects sales growth of 3.5% to 4.5% in the second quarter. Like many...
Thai officials seize over 200 tons of illegally imported electronic waste from U.S.
BANGKOK — Thai officials on Wednesday said they seized 238 tons of illegally imported electronic waste from the United States at the port of Bangkok, one of the biggest lots they’ve found this year. The waste, which came in 10 large containers, was declared as mixed metal scrap but turned...
Feds ask Elon Musk’s car company how its driverless taxis will avoid causing accidents in Texas rollout
NEW YORK — Federal safety regulators have asked Elon Musk’s car company to explain how its driverless taxis will avoid causing accidents when they hit the road in Texas next month before a national “robotaxi” launch that is key to keeping its stock price aloft. Tesla has been told to...
Nissan slashes 15% of its global work force as the Japan automaker sinks into losses
TOKYO — Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss Tuesday for the fiscal year that just ended amid slipping vehicle sales in China and other nations, and towering restructuring costs. Nissan Motor Corp. said it will...
