Wire stories category, Page 3
Pizza Hut closing 250 stores as parent company considers selling the brand
Pizza Hut plans to close 250 U.S. restaurants in the first half of this year as its parent company considers a sale of the chain. Yum Brands said Wednesday it’s targeting underperforming Pizza Hut restaurants in its system. Pizza Hut has more than 6,000 locations in the U.S. Louisville, Kentucky-based...
Washington Post cuts a 3rd of its staff in a blow to legendary news brandVideo
The Washington Post laid off one-third of its staff Wednesday, eliminating its sports section, several foreign bureaus and its books coverage in a widespread purge that represented a brutal blow to journalism and one of its most legendary brands. The Post’s executive editor, Matt Murray, called the move painful but...
The wealthy ramp up spending while other Americans tread water, study finds
WASHINGTON — Higher-income Americans and those with college degrees have ramped up their spending more quickly in the past three years than other consumers, according to data released Tuesday, evidence of worsening inequality that may explain some of the growing pessimism about the economy. The data, released by the Federal...
Robotaxi pioneer Waymo gets $16 billion injection to accelerate expansion plans
Robotaxi pioneer Waymo has raised another $16 billion to help fuel its ambition for its fleet of self-driving cars to provide rides throughout the world while other deep-pocketed rival services backed by Tesla and Amazon try to catch up. The fundraising announced Monday values Waymo at $126 billion. The appraisal...
Musk joins his rocket and AI businesses into single company before expected IPO this year
NEW YORK — Elon Musk is joining his space exploration and artificial intelligence ventures into a single company before a massive planned initial public offering for the business later this year. His rocket venture, SpaceX, announced on Monday that it had bought xAI in an effort to help the world’s...
Some companies tie AI to layoffs, but the reality is more complicated
The one thing N. Lee Plumb knows for sure about being laid off from Amazon last week is that it wasn’t a failure to get on board with the company’s artificial intelligence plans. Plumb, his team’s head of “AI enablement,” says he was so prolific in his use of Amazon’s...
What to know about the civil rights charges Don Lemon faces for covering church protest in Minnesota
Nine people, including former CNN anchor Don Lemon and another journalist — have been charged with violating two different federal laws in connection with the protest that interrupted a worship service at a Minnesota church earlier this month. The group that barged into a worship service that Sunday was upset...
Trump moved fast to cut a funding deal, a striking change from the last shutdown fight
WASHINGTON — President Donald Trump moved quickly this week to negotiate with Democrats to try and avert a lengthy government shutdown over Department of Homeland Security funding, a sharp departure from last year’s record standoff, when he refused to budge for weeks. Some Republicans are frustrated with the deal, raising...
U.S. stocks drift as gold’s price keeps ripping higher
NEW YORK — The U.S. stock market is drifting around its record heights Thursday following mixed profit reports from Microsoft and some other of Wall Street’s most influential companies. The action was strongest again in the gold market, where the metal’s price keeps ripping higher in its astounding run. The...
UPS to cut another 30,000 jobs in sweeping cost-savings push
United Parcel Service Inc. expects to cut as many as 30,000 positions this year, part of an ongoing effort by the package-delivery giant to rein in costs and boost profitability. The reductions to its operational workforce — a group that includes drivers and package handlers — will be achieved largely...
UPS retires fleet of MD-11 aircraft involved in deadly Kentucky crash
LOUISVILLE, Ky. — UPS announced Tuesday that it has retired its fleet of McDonnell Douglas MD-11 cargo planes just months after one crashed during takeoff, causing 15 deaths in Louisville. CEO Carol Tome said during a fourth-quarter earnings call that UPS decided to “accelerate our plans and retire all MD-11...
Paralyzing winter storms put a big chill on the economy, but how much?
HOUSTON — The deadly and widespread winter storm paralyzing much of the American East with ice, snow and cold is also taking a multi-billion dollar bite out of the U.S. economy, experts figure. But how much? Economists and meteorologists are trying to get a handle on the disruption costs of...
What travelers can expect as Southwest Airlines introduces assigned seats
Southwest Airlines passengers made their final boarding-time scrambles for seats on Monday as the carrier prepared to end the open-seating system that distinguished it from other airlines for more than a half‑century. Starting Tuesday, customers on Southwest flights will have assigned seats and the option of paying more to get...
Stocks rise as gold hits another record and the dollar’s value sinks again
NEW YORK — Stock indexes ticked higher Monday, while other markets made louder moves, including another record-breaking rush for the price of gold. The S&P 500 rose 0.5% and won back its losses from last week’s dip. The Dow Jones Industrial Average climbed 313 points, or 0.6%, and the Nasdaq...
Largest U.S. grid pushes power plants to secure gas through week
The largest U.S. grid operator is pushing power plants to secure natural gas supplies through the week amid expectations that frigid temperatures will drive electricity usage to a winter record. PJM Interconnection LLC is taking a rare step of committing to buy power from generators through 10 a.m. on Jan....
Trump housing finance chief OKs more mortgage spending and adds risk for government-backed lenders
WASHINGTON — President Donald Trump’s federal housing finance director, Bill Pulte, quietly granted government-backed lenders the authority to nearly double a $200 billion bond purchase that Trump ordered to try to lower mortgage rates, a move that could introduce a new level of risk for the companies. An email obtained...
Prices ticked up in November as Americans keep spending, a key inflation measure shows
WASHINGTON — The Federal Reserve’s preferred inflation gauge ticked up in November in the latest sign that prices remain stubbornly elevated, while consumers spent at a healthy pace. Consumer prices rose 2.8% in November from a year earlier, the Commerce Department said Thursday, up from a 2.7% annual pace in...
Wall Street has worst session since April as Trump threatens 8 European countries with tariffs over GreenlandVideo
NEW YORK — Stocks slumped Tuesday on Wall Street after President Donald Trump threatened to hit eight European countries with new tariffs as tensions escalate over his attempts to assert American control over Greenland. The losses were widespread, with nearly every sector losing ground. Major indexes in the U.S. extended...
Trump moves to make data centers pay for surging power costs
President Donald Trump and Northeast governors will direct the nation’s largest grid operator to hold an emergency power auction that would force technology giants to pay for the construction of a fleet of new plants. The unprecedented move, set to come Friday, aims to quell concerns about data centers driving...
Wall Street strengthens as Big Tech bounces back and oil prices ease
NEW YORK — Wall Street is strengthening on Thursday as tech stocks bounce back following an encouraging report from a Taiwanese chip giant and as oil prices ease sharply. The S&P 500 rose 0.7% and was on track to break the two-day losing streak it’s been on since setting an...
Judge is asked for emergency hearing after Congress members blocked from ICE facility in Minneapolis
WASHINGTON (AP) — The Trump administration secretly reimposed a policy limiting Congress members’ access to immigration detention facilities a day after a federal immigration officer fatally shot a woman in Minneapolis, attorneys for several congressional Democrats said Monday in asking a federal judge to intervene. Three Democratic members of Congress...
Why the Federal Reserve has historically been independent of the White House
WASHINGTON— The Justice Department has threatened the Federal Reserve with a criminal indictment over the testimony of Fed Chair Jerome Powell this summer regarding its building renovations, Powell said over the weekend. It is a major escalation by the administration after repeated attempts by President Donald Trump to exert greater...
Judge says she’ll hold a limited hearing on seizure of Luigi Mangione’s backpack
NEW YORK — A federal judge on Monday said she will hold a short hearing in the next two weeks on procedures that police said allowed them to seize and look through Luigi Mangione’s backpack when he was arrested in the killing of UnitedHealthcare CEO Brian Thompson. U.S. District Judge...
Trump ‘inclined’ to keep ExxonMobil out of Venezuela after CEO response at White House meeting
ABOARD AIR FORCE ONE — President Donald Trump said Sunday that he is “inclined” to keep ExxonMobil out of Venezuela after its top executive was skeptical about oil investment efforts in the country after the toppling of former President Nicolás Maduro. “I didn’t like Exxon’s response,” Trump said to reporters...
Trump pushes a 1-year, 10% cap on credit card interest rates and banks balk
NEW YORK — Reviving a campaign pledge, President Donald Trump wants a one-year, 10% cap on credit card interest rates, a move that could save Americans tens of billions of dollars but drew immediate opposition from an industry that has been in his corner. Trump was not clear in his...
