Business
Stock market today: Wall Street closes higher after Target and other retailers top profit forecasts
By Stan Choe, The Associated Press on August 21st, 2024
NEW YORK (AP) – U.S. stocks closed higher after more big companies delivered profit reports that topped analysts’ expectations. The S&P 500 rose 0.4% Wednesday. The Dow Jones Industrial Average added 0.1%, and the Nasdaq composite rose 0.6%. Target jumped after topping profit expectations for the spring. But Macy’s dropped after it cut its forecast ... Read More »
Be the first to comment!The price of gold is at a record high. Here’s why
By The Associated Press on August 21st, 2024
NEW YORK – A gold rush is here. The precious metal hit an all time high this week. The spot price for gold closed Tuesday above $2,514, according to data from FactSet. That’s the highest closing price recorded for the commodity to date. Here’s what you need to know. What is the price of gold ... Read More »
Be the first to comment!‘Unacceptable’: Business groups say rail stoppage would hit grain, groceries and more
By Jeremy Simes, The Canadian Press on August 21st, 2024
An impending labour stoppage on Canada’s two national railways has riled industry groups who worry consumers and businesses will be hit hard if goods ranging from grains to french fries to petrochemicals can’t be moved. Canadian National Railway Co. and Canadian Pacific Kansas City Ltd. have already begun a phased shutdown of their networks as ... Read More »
Be the first to comment!Fed minutes: Most officials favored a rate cut in September if inflation continued to cool
By Christopher Rugaber, The Associated Press on August 21st, 2024
WASHINGTON (AP) – Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool. The minutes of the Fed’s July 30-31 meeting, released Wednesday, said the “vast majority” of policymakers “observed that, if the data continued to ... Read More »
Be the first to comment!The Weeknd set to live stream São Paulo concert for free on YouTube
By David Friend, The Canadian Press on August 21st, 2024
The Weeknd is offering a glimpse into the next chapter of his career with a one-night-only concert streaming live on YouTube from São Paulo, Brazil. The “Blinding Lights” hitmaker plans to roll out a never-before-seen production in early September that will “offer a glimpse into what’s next for the artist” alongside performances of his biggest ... Read More »
Be the first to comment!Shein sues Temu over copyright infringements as the legal feud between the two companies heats up
By Haleluya Hadero, The Associated Press on August 21st, 2024
Online fast-fashion giant Shein has filed another lawsuit against competitor Temu, accusing the China-founded shopping platform of stealing its designs, copying its product images and engaging in other types of fraud. The complaint filed in a Washington federal court this week alleges that Temu, which has grown in popularity in the U.S, has subsidized its ... Read More »
Be the first to comment!Divers find 5 bodies during search of superyacht wreckage after it sank off Sicily, 1 still missing
By Nicole Winfield, Danica Kirka And Silvia Stellacci, The Associated Press on August 21st, 2024
PORTICELLO, Sicily (AP) – Divers searching the wreck of a superyacht that sank off Sicily found the bodies of five passengers Wednesday and searched for one more as questions intensified about why the vessel sank so quickly when a nearby sailboat remained largely unscathed. Rescue crews unloaded three body bags from rescue vessels that pulled ... Read More »
Be the first to comment!Business groups warn of dire consequences unless feds step in as rail shutdown looms
By Christopher Reynolds, The Canadian Press on August 21st, 2024
MONTREAL – Hours away from an unprecedented potential shutdown at the country’s two main railways, a coalition of business groups has amplified their pleas for the federal government to step in and prevent a work stoppage that would upend supply chains – even as the prime minister stressed a deal at the table is the ... Read More »
Be the first to comment!Divers find 4 bodies during search of superyacht wreckage after it sank off Sicily, 2 still missing
By Nicole Winfield, Danica Kirka And Andrea Rosa, The Associated Press on August 21st, 2024
PORTICELLO, Sicily (AP) – Divers searching the wreck of a superyacht that sank off Sicily found the bodies of four passengers Wednesday and searched for two more as questions intensified about why the vessel sank so quickly when a nearby sailboat remained largely unscathed. Rescue crews unloaded three body bags from the rescue vessels that ... Read More »
Be the first to comment!Ford to shift EV strategy by building new lower-cost pickups and a commercial van
By Tom Krisher, The Associated Press on August 21st, 2024
DETROIT (AP) – Facing competition from automakers with lower costs, Ford Motor Co. is shifting its electric vehicle strategy and now will focus on making two new electric pickup trucks and a new commercial van. The company says all will cost less, have longer range and be profitable before taxes within a year of reaching ... Read More »
Be the first to comment!A tale of two retailers: Target reverses sales slump while Macy’s reports another quarterly decline
By Anne D'innocenzio, The Associated Press on August 21st, 2024
NEW YORK (AP) – Grocery aisle deals and an emphasis on affordable but stylish clothes helped Target reverse a year-long sales slump, while Macy’s on Wednesday reported another quarterly decline and said sales for the fiscal year will be weaker than expected due to a “more discriminating consumer” outlook. The difference in fiscal second-quarter results ... Read More »
Be the first to comment!
