Wire stories category, Page 3
Tariffs may have pushed up inflation a bit in April, government report to show
WASHINGTON — Inflation may have picked up slightly last month as President Donald Trump’s widespread tariffs kicked in, a trend economists expect will become more visible in the coming months. Consumer prices are forecast to have risen 2.4% in April compared with a year earlier, according to data provider FactSet,...
As Biden-era ‘junk fee’ rule takes effect, Ticketmaster says it will display fees more clearly
As a Biden administration ban on so-called “junk fees” took effect Monday, Ticketmaster said it would start displaying the full price of a ticket as soon as consumers begin shopping. Ticketmaster, long a subject of complaints about its hidden fees, was among those targeted by the new rule, which was...
Dow leaps 1,100 points and S&P 500 rallies 3.3% following a 90-day truce in the U.S.-China trade war
NEW YORK — Stocks rallied Monday after China and the United States announced a 90-day truce in their trade war. Each of the world’s two largest economies agreed to take down temporarily most of its tariffs against the other, which economists had warned could start a recession and create shortages...
Economic jitters and soaring gold prices create a frenzy for U.S. jewelry merchants
LOS ANGELES — At the biggest jewelry center in the United States, Alberto Hernandez fired up his machine on a recent day and waited until it glowed bright orange inside before shoveling in an assortment of rings, earrings and necklaces weighing about as much as a bar of soap: just...
Experts call Kennedy’s plan to find autism’s cause unrealistic
WASHINGTON — For many experts, Health Secretary Robert F. Kennedy Jr. ‘s promise for “pulling back the curtain” to find autism’s causes in a few months is jarring — and unrealistic. That’s because it appears to ignore decades of science linking about 200 genes that play a role — and...
An earthquake of 4.1 preliminary magnitude has been reported in Tennessee and was felt in Atlanta
ATLANTA — An earthquake of 4.1 preliminary magnitude was reported Saturday morning in Tennessee and was felt in Atlanta, western North Carolina and elsewhere, according to the U.S. Geological Survey and local news reports. The website for USGS said the earthquake originated shortly after 9 a.m. EDT about 12 miles...
Google will pay Texas $1.4B to settle claims the company collected users’ data without permission
Google will pay $1.4 billion to Texas to settle claims the company collected users’ data without permission, the state’s attorney general announced Friday. In 2022, Attorney General Ken Paxton sued Google, saying the search giant collected millions of biometric identifiers, including voiceprints and records of face geometry, through its products...
Barbie doll prices spike as Trump tariffs loom
With President Donald Trump warning that his tariff policy may cause the price of toys to spike, a Barbie with swimsuit accessories that cost $10.49 on April 16 is now selling at Target for $14.99 — marking a 43% increase. While it’s not clear if the higher price is directly...
Federal Reserve leaves key rate unchanged as it sees risk of higher prices and higher unemployment
WASHINGTON — The Federal Reserve kept its key interest rate unchanged Wednesday, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of higher unemployment and higher inflation have risen. The Fed kept its rate at 4.3% for the third straight meeting, after cutting it...
Wall Street loses ground, breaking 9-day winning streak, and crude oil prices tumble
NEW YORK — Stocks closed lower Monday on Wall Street, breaking a nine-day winning streak, as oil prices hit a four-year low after the OPEC+ group announced plans to increase output. The losses came amid a relatively calm day of mostly mixed trading. They follow several weeks of gains that...
OpenAI reverses course, says its nonprofit will continue to control its business
After months spent pursuing a plan to convert itself into a for-profit business, OpenAI is reversing course and said Monday its nonprofit will continue to control the company that makes ChatGPT and other artificial intelligence products. “We made the decision for the nonprofit to stay in control after hearing from...
Rite Aid returns to bankruptcy protection as it seeks to sell all assets
Rite Aid is again seeking bankruptcy protection as the struggling drugstore chain says it will try to sell substantially all of its assets. The company said Monday that its stores will remain open as it returns to Chapter 11 bankruptcy proceedings. The company said it will work to ensure that...
‘Thunderbolts’ kicks off the summer movie season with $76 million at the box office
NEW YORK — Marvel Studios’ “Thunderbolts” opened with $76 million in domestic ticket sales, according to studio estimates Sunday, kicking off the summer box office with a solid No. 1 debut that fell shy of Marvel’s more spectacular launches. All eyes had been on whether “Thunderbolts” — a team-up of...
Putin says he hopes there will be no need to use nuclear weapons in Ukraine
Russian President Vladimir Putin has said that the need to use nuclear weapons in Ukraine had not arisen and that he hopes it will not. In comments aired Sunday in a film by Russian state television about his quarter of a century in power, Putin said Russia has the strength...
How the stock market made back all its losses after Trump escalated the trade war
It felt much longer, but the U.S. stock market needed just a few weeks to roar all the way back to where it was on President Donald Trump’s “Liberation Day.” That’s when he shocked Wall Street by announcing much steeper tariffs than expected on nearly all U.S. trading partners. Those...
Warren Buffett shocks shareholders by announcing his intention to retire at the end of the year
OMAHA, Neb. — Warren Buffett shocked an arena full of his shareholders Saturday by announcing that he wants to retire at the end of the year. Buffett said he will recommend to Berkshire Hathaway’s board that Greg Abel should become CEO at the end of the year. “I think the...
Steelmaker Cleveland Cliffs to idle 3 steel plants in Pennsylvania and Illinois
HARRISBURG — Steelmaker Cleveland-Cliffs will indefinitely idle three steel plants this summer, saying Friday it is being buffeted by sluggish demand and pricing for some products, including high carbon steel sheets. The company said the idling of two Pennsylvania plants, one in Steelton and one in Conshohocken, and one in...
Wall Street extends its gains to a 9th straight day, reclaiming losses since tariff escalation
Wall Street extended its gains to a ninth straight day, marking its longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April. The rally on Friday was spurred by a better-than-expected report on the job market and resurgent...
Apple posts stronger-than-expected Q2 results, says majority of U.S. iPhones sold will come from India
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s...
Kohl’s ousts CEO Ashley Buchanan after investigation into conflicts of interest
Kohl’s said it has terminated its new CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest. Kohl’s named Chairman Michael Bender as interim CEO, effective immediately. In connection with the appointment, Bender will step down as...
Court sides with Fortnite maker Epic as Apple sanctioned for defying order in App Store case
A federal judge has strongly rebuked Apple, finding that the iPhone maker willfully violated a court injunction in an antitrust case filed by “Fortnite” maker Epic Games. U.S. District Judge Yvonne Gonzalez Rogers had ordered Apple to lower the barriers protecting its previously exclusive payment system for in-app digital transactions...
Wall Street storms back from early losses, echoing its manic moves through a historic April
NEW YORK — Much like its wild month of April, a scary Wednesday for Wall Street found a gentler ending as stocks stormed back from steep early losses to continue their manic swings amid uncertainty about what President Donald Trump’s trade war will do to the economy. The S&P 500...
Economy shrinks 0.3% in 1st quarter as Trump trade wars disrupt businesses
The U.S. economy shrank at a 0.3% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business. First-quarter growth was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before Trump...
Wall Street: Stocks end day mixed with potential for big swings on horizon
NEW YORK — U.S. stocks drifted to a mixed finish on Monday, ahead of potential flashpoints this week that could bring more sharp swings for financial markets. The S&P 500 inched up by 0.1% to extend its winning streak to a fifth day. The Dow Jones Industrial Average added 114...
Market turmoil has many afraid to check retirement savings
NEW YORK — Michael Montgomery used to check the balance on his retirement account once a week and smile. But lately, not wanting to get upset and question if he could retire in a few years, there was only one solution. “I’m not looking,” says the 66-year-old professor from Huntington...
