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Wire stories category, Page 27

Pope Francis, first Latin American pontiff, dies at 88
Why new grads shouldn’t fear a recession
In 2023 alone, there have been over 118,000 U.S. tech layoffs, according to Crunchbase News, a business publication. That’s in addition to two major bank collapses and two federal rate hikes. The class of 2023 will graduate into this economic upheaval while facing another variable: student loan payments. This can...
EPA pollution limits aim to boost U.S. electric vehicle sales
WASHINGTON — The Biden administration is proposing strict new automobile pollution limits that would require as many as two-thirds of new vehicles sold in the U.S. to be electric by 2032, a nearly tenfold increase over current electric vehicle sales. The proposed regulation, announced Wednesday by the Environmental Protection Agency,...
Buffett says people shouldn’t worry about Berkshire, banks
OMAHA, Neb. — Billionaire Warren Buffett assured investors Wednesday that Berkshire Hathaway will be fine when he’s no longer around to lead the conglomerate. Buffett said shareholders shouldn’t worry about the future of the company after Vice Chairman Greg Abel takes over because he will do a great job and...
Wall Street drifts through muted day ahead of inflation data 
NEW YORK — Wall Street drifted through a muted day of trading Tuesday, with stocks and bonds making modest moves ahead of reports later in the week with the potential to move markets. The S&P 500 had its smallest one-day move in more than a year, slipping 0.17 points, or...
IMF: Prolonged high inflation dims outlook for world economy 
WASHINGTON — The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. That’s the view of the International Monetary Fund, which on Tuesday downgraded its outlook for global economic...
Stocks end mixed on Wall Street amid rate hike expectations 
NEW YORK — Stocks were mixed Monday in their first trading after a report heightened speculation the Federal Reserve may tap the brakes a little harder on financial markets and the economy. The S&P 500 rose 4.09 points, or 0.1%, to 4,109.11. It did not trade on Friday, when data...
Kimberly Palmer: How to protect parents from financial scams
When a scam artist called Cameron Huddleston’s mom to tell her to wire money in order to claim a prize, Huddleston had to intercept the calls. Her mom, who had been diagnosed with Alzheimer’s, was convinced she had to wire the money as soon as possible. “That was a wake-up...
Average 30-year mortgage rate dips as spring season opens
The average long-term U.S. mortgage rate dipped for the fourth straight week, a good sign for potential home buyers and a real estate market that’s been mostly cold since the Federal Reserve began raising interest rates more than a year ago. Mortgage buyer Freddie Mac reported Thursday that the average...
States and companies compete for billions to make hydrogen
As fossil fuel emissions continue warming Earth’s atmosphere, the Biden administration is turning to hydrogen as an energy source for vehicles, manufacturing and generating electricity. It’s offering $8 billion to entice the nation’s industries, engineers and planners to figure out how to produce and deliver clean hydrogen. States and businesses...
IMF head expects less than 3% global economic growth in 2023
WASHINGTON — The International Monetary Fund chief said Thursday the world economy is expected to grow less than 3% this year, down from 3.4% last year, increasing the risk of hunger and poverty globally. Kristalina Georgieva said growth is expected to remain around 3% for the next five years, calling...
NPR objects to ‘state-affiliated media’ label Twitter slapped on account: ‘inaccurate’ 
National Public Radio has been caught up in the Twitter verification-system overhaul and some new company-administered labels that have riled users of the social media platform since Tesla and SpaceX honcho Elon Musk took over the platform last fall. NPR was wrongly labeled Tuesday as “U.S. state-affiliated media” on the...
New Ram electric pickup can go up to 500 miles on a charge 
DETROIT — An electric Ram pickup truck with up to 500 miles of range per charge and a battery-powered people-hauling Kia SUV are among the new vehicles being introduced Wednesday at the New York International Auto Show. The two debuts in New York on Wednesday are among only nine automaker...
UBS confident about Credit Suisse deal despite ‘huge’ risk
GENEVA — The UBS chairman voiced confidence Wednesday that the Swiss bank will succeed in a government-engineered takeover of hobbled rival Credit Suisse, pledging the deal will reduce costs, benefit shareholders and buttress Swiss finance despite “huge” risks in knitting the global lenders together. Speaking to UBS shareholders, Colm Kelleher...
Robotaxis aim to take San Francisco on ride into the future
SAN FRANCISCO — Two trailblazing ride-hailing services are heading toward uncharted territory as they seek regulatory approval to transport passengers around the clock throughout one of the most densely populated U.S. cities in vehicles that will have no one sitting in the driver’s seat. If Cruise, a subsidiary of General...
Student aid startup founder arrested on fraud charges
NEW YORK — The founder of Frank, a student loan assistance startup company that J.P. Morgan Chase acquired for $175 million two years ago, has been arrested on charges that she duped the financial giant by dramatically inflating the number of customers her company had, authorities said Tuesday. Charlie Javice,...
Officials reach deal to restart northern Iraq oil exports
BAGHDAD — Iraq’s central government and officials from the semi-autonomous Kurdish region reached a deal Tuesday to resume oil exports from northern Iraq via a pipeline to Turkey. Iraqi Prime Minister Mohammed Shia al-Sudani and Masrour Barzani, prime minister of the semi-autonomous Kurdish region, announced the deal at a press...
Biden offers $450M for clean energy projects at coal mines
WASHINGTON — President Joe Biden’s administration is making $450 million available for solar farms and other clean energy projects across the country at the site of current or former coal mines, part of his efforts to combat climate change. As many as five projects nationwide will be funded through the...
TikTok fined $15.9M by U.K. watchdog over misuse of kids’ data
LONDON — Britain’s privacy watchdog hit TikTok with a multimillion-dollar penalty Tuesday for misusing children’s data and violating other protections for users’ personal information. The Information Commissioner’s Office said it issued a fine of 12.7 million pounds ($15.9 million) to the short-video sharing app, which is wildly popular with young...
Stocks end mixed as jump in oil prices fans inflation fears 
NEW YORK — Stock markets around the world were mixed Monday, as a jump in oil prices threatens to add upward pressure on inflation. The S&P 500 gained 15.20 points, or 0.4%, to 4,124.51, though more stocks in the index fell than rose. The Dow Jones Industrial Average climbed 327.00,...
McDonald’s temporarily closes U.S. offices ahead of layoffs 
McDonald’s has closed its U.S. offices through Wednesday and told its corporate staff to work remotely as it prepares to announce a round of layoffs. In a memo to workers posted on the website TheLayoff.com, the Chicago-based burger giant said it wanted to “ensure the comfort and confidentiality of our...
UFC, WWE combine to form $21.4B sports entertainment company
WWE is saying goodbye to existing as a family-run business as it joins with the company that runs Ultimate Fighting Championship to create a $21.4 billion sports entertainment company. The deal announced Monday between Endeavor and World Wrestling Entertainment, on the heels of its biggest event of the year, catapults...
Tesla sales rise 36% in first quarter, following price cuts
DETROIT — Tesla’s first-quarter vehicle sales rose 36% after the company cut prices twice in a bid to stimulate demand. The electric car, SUV and heavy truck maker said it delivered 422,875 vehicles worldwide from January to March, up from just over 310,000 a year ago. But the increase fell...
Saudis, other oil giants announce surprise production cuts
Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. Higher oil prices would help fill Russian President Vladimir Putin’s coffers as his country wages war on...
Twitter pulls check mark from main New York Times account
Twitter has removed the verification check mark on the main account of The New York Times, one of CEO Elon Musk’s most despised news organizations. The removal comes as many of Twitter’s high-profile users are bracing for the loss of the blue check marks that helped verify their identity and...
Richard Branson’s Virgin Orbit slashing 85% of its workforce
Richard Branson’s Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission. The company, headquartered in Long Beach, California, will cut 675 jobs, about 85% of its workforce, according to a Friday...


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