Business

Starbucks Workers Strike at More Than 100 US Stores

Starbucks workers at more than 100 U.S. stores are on strike Thursday in their largest labor action since a campaign... Read More

Starbucks workers at more than 100 U.S. stores are on strike Thursday in their largest labor action since a campaign to unionize the company’s stores began late last year. The walkouts coincide with Starbucks’ annual Red Cup Day, when the... Read More

2022-11-10 22:28:15
by Dan McCue
FTC Taking Dim View of Musk Action Amid Twitter Turmoil

WASHINGTON — A letter posted to Twitter’s Slack feed by a company lawyer, detailing the utter chaos the social media... Read More

WASHINGTON — A letter posted to Twitter’s Slack feed by a company lawyer, detailing the utter chaos the social media outlet has descended into since Elon Musk took control of it, has prompted a rare public rebuke from the Federal... Read More

2022-11-10 14:59:08
by TWN
Thinking Differently Ushers in Changes, Brand New Day at Philip Morris International

NEW YORK — The Well News caught up with Philip Morris International’s Chief Executive Officer at the company's soon-to-be former... Read More

NEW YORK — The Well News caught up with Philip Morris International’s Chief Executive Officer at the company's soon-to-be former corporate headquarters in midtown Manhattan ahead of its big move to Stamford, Connecticut, beginning Nov. 10. Jacek Olczak appeared to... Read More

2022-11-03 21:26:57
by Dan McCue
Retailers Predict Healthy Holiday Sales Despite Inflation

WASHINGTON — Holiday retail sales during November and December will grow between 6% and 8% compared to last year, and... Read More

WASHINGTON — Holiday retail sales during November and December will grow between 6% and 8% compared to last year, and come in somewhere in excess of $942.6 billion despite stubbornly persistent inflation woes, the National Retail Federation said on Thursday.... Read More

Trump Asks Justices to Keep Tax Returns From House Committee

WASHINGTON (AP) — Former President Donald Trump is going to the Supreme Court, again, this time to try to stop... Read More

WASHINGTON (AP) — Former President Donald Trump is going to the Supreme Court, again, this time to try to stop his tax returns from being handed to a congressional committee. In an emergency appeal filed Monday, Trump wants the court... Read More

2022-10-31 12:58:02
by Dan McCue
BMW Investing $1.7B to Expand EV Manufacturing Footprint in South Carolina

SPARTANBURG, S.C. — BMW Group, long a driver of economic development in South Carolina, has announced it is investing $1.7... Read More

SPARTANBURG, S.C. — BMW Group, long a driver of economic development in South Carolina, has announced it is investing $1.7 billion to dramatically expand its capability to produce electric vehicles in the state. About $1 billion of the investment will... Read More

2022-10-28 21:06:54
by Tom Ramstack
Musk Pledges Big Changes After Buying Twitter for $44B

WASHINGTON — Elon Musk completed his $44 billion buyout of Twitter late Thursday. One of his first acts was to... Read More

WASHINGTON — Elon Musk completed his $44 billion buyout of Twitter late Thursday. One of his first acts was to fire top executives of one of the world’s most influential social media companies. The multibillion-dollar company dropped off the New... Read More

2022-10-27 20:58:25
by Tom Ramstack
SEC Requires Executives to Pay Back Bonuses Tied to Flawed Financial Reports

WASHINGTON — The U.S. Securities and Exchange Commission on Wednesday finalized a rule that eliminates the right of corporate executives... Read More

WASHINGTON — The U.S. Securities and Exchange Commission on Wednesday finalized a rule that eliminates the right of corporate executives to collect bonuses if there are accounting errors in their companies’ regulatory filings. One of the agency’s motivations is to... Read More

2022-10-17 15:14:00
by Dan McCue
Enel North America Opens Oklahoma City Office

OKLAHOMA CITY — Enel North America, the subsidiary to Italian multinational Enel S.p.A., has opened a new office and training... Read More

OKLAHOMA CITY — Enel North America, the subsidiary to Italian multinational Enel S.p.A., has opened a new office and training space in midtown Oklahoma City, Oklahoma, capping a decade of rapid growth in the state. According to the company, which... Read More

2022-10-05 19:26:55
by Tom Ramstack
Musk Changes His Mind to Proceed With $44B Twitter Purchase

WILMINGTON, Del. — Elon Musk reversed course Tuesday by saying he plans to proceed with his original $44 billion deal... Read More

WILMINGTON, Del. — Elon Musk reversed course Tuesday by saying he plans to proceed with his original $44 billion deal to buy social media giant Twitter Inc. Musk notified the Securities and Exchange Commission of his change of plan in... Read More

2022-10-03 19:45:03
by Dan McCue
IKEA Home Deliveries to Be Fully Electric by 2025, CEO Says

LONDON — The CEO of the world's largest furniture retailer said on Monday that all of the company’s home deliveries... Read More

LONDON — The CEO of the world's largest furniture retailer said on Monday that all of the company’s home deliveries will be made by electric vehicles as early as 2025 as part of a drive to dramatically reduce its greenhouse... Read More

UnitedHealth Closes Roughly $8B Deal for Change Healthcare

MINNETONKA, Minn. (AP) — UnitedHealth Group said Monday that it completed its acquisition of Change Healthcare, closing the roughly $8... Read More

MINNETONKA, Minn. (AP) — UnitedHealth Group said Monday that it completed its acquisition of Change Healthcare, closing the roughly $8 billion deal a couple weeks after a judge rejected a challenge from federal regulators. UnitedHealth is merging the technology company... Read More

US Case Against American Airlines and JetBlue Heads to Court

DALLAS (AP) — The government's antitrust lawsuit against American Airlines and JetBlue begins Tuesday and the outcome could determine how... Read More

DALLAS (AP) — The government's antitrust lawsuit against American Airlines and JetBlue begins Tuesday and the outcome could determine how closely the Biden administration examines other airline deals, including JetBlue's pending attempt to buy Spirit Airlines. The Justice Department and... Read More

2022-09-26 21:33:51
by Tom Ramstack
Boeing to Pay $200M After Fraud Accusations

WASHINGTON — Boeing Co. agreed last week to pay $200 million in fines to settle Securities and Exchange Commission allegations... Read More

WASHINGTON — Boeing Co. agreed last week to pay $200 million in fines to settle Securities and Exchange Commission allegations that it deceived investors about the safety of the 737 Max airliner after two deadly crashes. Company executives told investors... Read More

US Sen. Warnock: Electric Car Tax Credit Needs 'Flexibility'

SAVANNAH, Ga. (AP) — U.S. Sen. Raphael Warnock, D, Ga., urged the U.S. Treasury secretary Friday to use “maximum flexibility”... Read More

SAVANNAH, Ga. (AP) — U.S. Sen. Raphael Warnock, D, Ga., urged the U.S. Treasury secretary Friday to use “maximum flexibility” in implementing a revised tax credit for Americans buying electric vehicles, a perk that Hyundai stands to lose as the... Read More

'Art of the Steal': Trump Accused of Vast Fraud in NY Suit

NEW YORK (AP) — Former President Donald Trump padded his net worth by billions of dollars and habitually misled banks... Read More

NEW YORK (AP) — Former President Donald Trump padded his net worth by billions of dollars and habitually misled banks and others about the value of prized assets like golf courses, hotels and his Mar-a-Lago estate, New York’s attorney general... Read More

2022-09-19 13:20:46
by TWN Staff
Family Dollar Initiates Voluntary Recall of Colgate Products

CHARLOTTE, N.C. — Family Dollar is initiating a voluntary product recall of Colgate mouthwash and toothpaste that were shipped and... Read More

CHARLOTTE, N.C. — Family Dollar is initiating a voluntary product recall of Colgate mouthwash and toothpaste that were shipped and stored in multiple states outside of the products’ labeled temperature requirements. All of the products are subject to Food and... Read More

2022-09-15 18:03:23
by Dan McCue
Biden Calls Tentative Railway Deal ‘A Big Win for America’

WASHINGTON — President Joe Biden made a last-minute addition to his public schedule on Thursday, inviting railroad and union leaders... Read More

WASHINGTON — President Joe Biden made a last-minute addition to his public schedule on Thursday, inviting railroad and union leaders to the White House to celebrate their averting a nationwide strike that could have crippled the U.S. economy. Many of... Read More

Biden: Tentative Railway Labor Deal Reached, Averting Strike

WASHINGTON (AP) — President Joe Biden said Thursday that a tentative railway labor agreement has been reached, averting a strike that could... Read More

WASHINGTON (AP) — President Joe Biden said Thursday that a tentative railway labor agreement has been reached, averting a strike that could have been devastating to the economy before the pivotal midterm elections. Railroads and union representatives had been in negotiations for 20... Read More

2022-09-14 16:13:15
by Dan McCue
White House Striving to Avert Crisis as Potential Rail Strike Grows Nearer

WASHINGTON — As President Joe Biden continued to press union leaders and rail companies to make a deal and avert... Read More

WASHINGTON — As President Joe Biden continued to press union leaders and rail companies to make a deal and avert a national railroad strike as of 12:01 a.m. on Friday, the White House is working on contingencies to reduce the... Read More

2022-09-12 20:50:37
by Tom Ramstack
Maryland Court to Decide if Pandemic Requires Insurers to Cover Businesses

ANNAPOLIS, Md. — Maryland's high court is expected to rule soon on whether insurers for corporations whose businesses suffered because... Read More

ANNAPOLIS, Md. — Maryland's high court is expected to rule soon on whether insurers for corporations whose businesses suffered because of the COVID-19 pandemic must cover the lost income. On Friday, the Maryland Court of Appeals heard arguments from fashion... Read More

Biden to Tell Ohioans His Policies Will Revive Manufacturing

WASHINGTON (AP) — President Joe Biden wants to put the spotlight on a rare bipartisan down payment on U.S. manufacturing when he... Read More

WASHINGTON (AP) — President Joe Biden wants to put the spotlight on a rare bipartisan down payment on U.S. manufacturing when he visits Ohio on Friday for the groundbreaking of a new Intel computer chip facility. Biden heads to suburban Columbus to... Read More

FDA Panel Backs Much-Debated ALS Drug in Rare, 2nd Review

WASHINGTON (AP) — A panel of federal health advisers voted Wednesday to recommend approval for an experimental drug to treat... Read More

WASHINGTON (AP) — A panel of federal health advisers voted Wednesday to recommend approval for an experimental drug to treat Lou Gehrig’s disease, a remarkable turnaround for the much-debated medication that was previously rejected by the same group earlier this year. The... Read More

CVS to Buy Home Health Care Provider Signify for $8B

DALLAS (AP) — Drugstore operator CVS Health Corp. said Monday that it will buy home-health provider Signify Health for $8... Read More

DALLAS (AP) — Drugstore operator CVS Health Corp. said Monday that it will buy home-health provider Signify Health for $8 billion. CVS said Signify has more than 10,000 employees including physicians and nurses, a presence in every state, and offers... Read More

2022-09-01 17:37:03
by Dan McCue
Bosch to Invest $200M to Make Hydrogen Fuel Cells in South Carolina

ANDERSON, S.C. — Robert Bosch, the German engineering giant, is investing $200 million in an existing plant in South Carolina... Read More

ANDERSON, S.C. — Robert Bosch, the German engineering giant, is investing $200 million in an existing plant in South Carolina to transform it into the company’s first North American site producing hydrogen-powered fuel stacks for future electric vehicles. The fuel... Read More

2022-08-31 21:34:19
by Madeline Hughes
Roomster Pocketed $27M Through Fake Reviews, Phony Listings, FTC Claims

WASHINGTON — The Federal Trade Commission is suing the online roommate and housing application Roomster for allegedly profiting to the... Read More

WASHINGTON — The Federal Trade Commission is suing the online roommate and housing application Roomster for allegedly profiting to the tune of $27 million from fake reviews and fraudulent listings, it announced Tuesday. “Roomster polluted the online marketplace with fake... Read More

2022-08-26 17:11:24
by Dan McCue
Moderna Sues Pfizer and BioNTech Over COVID Vaccine

CAMBRIDGE, Mass. — Pharma giant Moderna sued Pfizer and BioNTech on Friday, claiming that their popular COVID vaccine was copied... Read More

CAMBRIDGE, Mass. — Pharma giant Moderna sued Pfizer and BioNTech on Friday, claiming that their popular COVID vaccine was copied from groundbreaking science Moderna performed. In a statement posted on its website, Moderna said Pfizer and BioNTech infringed on patents... Read More

2022-08-22 16:16:51
by Dan McCue
More Land Leased for Carbon Capture in Western Louisiana

HOUSTON — 1PointFive and Manulife Investment Management have entered into a lease agreement for approximately 27,000 acres of timberland in... Read More

HOUSTON — 1PointFive and Manulife Investment Management have entered into a lease agreement for approximately 27,000 acres of timberland in western Louisiana for a carbon capture and sequestration project. The agreement provides 1PointFive with access to subsurface pore space and... Read More

2022-08-22 15:34:49
by Dan McCue
Phillips 66 and H2 Energy Europe Enter Into Hydrogen Refueling Station Venture

HOUSTON — Phillips 66 and Zurich, Switzerland-based H2 Energy Europe have entered into a 50-50 joint venture to set up... Read More

HOUSTON — Phillips 66 and Zurich, Switzerland-based H2 Energy Europe have entered into a 50-50 joint venture to set up and operate a network of hydrogen refueling retail sites in Germany, Austria and Denmark. The new venture, to be called... Read More

2022-08-19 19:01:28
by Dan McCue
HHS Preparing to Hand Off Control of Pricing, Coverage of COVID Shots

WASHINGTON — The Biden administration will reportedly convene a meeting on Aug. 30 with state health officials and executives from... Read More

WASHINGTON — The Biden administration will reportedly convene a meeting on Aug. 30 with state health officials and executives from the drug and pharmacy industries to lay the groundwork for transferring greater control of pricing and coverage for COVID-19 shots... Read More

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