Corporate news

North Carolina Gov. Roy Cooper speaks during a briefing on North Carolina's coronavirus pandemic response Wednesday, Jan. 27, 2021 at the NC Emergency Operations Center in Raleigh, N.C. (Travis Long/The News & Observer via AP)
January 27, 2021 - 3:02 pm

The Latest: Uk Coronavirus Variant Found In Alabama

MONTGOMERY, Ala. — Alabama health officials said Wednesday that the more highly transmissible COVID-19 variant seen in the United Kingdom has been found in the state. The Alabama Department of Public Health said the variant is thought to be more contagious. It is the first time the variant has been...
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Vermont Senator Bernie Sanders arrives for the 59th Presidential Inauguration at the U.S. Capitol for President-elect Joe Biden in Washington, Wednesday, Jan. 20, 2021. (Saul Loeb/Pool Photo via AP)
January 27, 2021 - 2:18 pm

Bernie Sanders' Mittens, Memes Help Raise $1.8M For Charity

About those wooly mittens that U.S. Sen. Bernie Sanders wore to the presidential inauguration, sparking endless quirky memes across social media? They've helped to raise $1.8 million in the last five days for charitable organizations in Sanders' home state of Vermont, the independent senator...
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Federal Reserve Chairman Jerome Powell testifies before a House Financial Services Committee hearing on Capitol Hill in Washington, Wednesday, Dec. 2, 2020. (Greg Nash/Pool via AP)
January 27, 2021 - 2:17 pm

Fed Stresses Its Commitment To Low Rates As Economy Stumbles

WASHINGTON (AP) — Chair Jerome Powell said Wednesday that the Federal Reserve will keep pursuing its low-interest rate policies until an economic recovery is well underway, acknowledging that the economy has faltered in recent months. The Fed said in a statement after its latest policy meeting that...
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FILE - This June 17, 2014 file photo shows the Sands Expo and Convention Center and The Palazzo in Las Vegas. Las Vegas Sands Corp. (LVS) on Wednesday, Jan. 27, 2021 reported a fourth-quarter loss of $299 million, after reporting a profit in the same period a year earlier. (AP Photo/John Locher, File)
January 27, 2021 - 2:15 pm

Without Adelson, Las Vegas Sands Posts $299 Million Loss

LAS VEGAS (AP) — Las Vegas Sands Corp. posted a fourth-quarter loss of $299 million, after reporting a profit in the same period a year earlier, as the casino and resort operator saw its business dry up due to the coronavirus pandemic. The Las Vegas-based company said it had a loss of 39 cents per...
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In this photo provided by the New York Stock Exchange, trader Samantha Tavares, right, works with colleagues on the floor, Wednesday, Jan. 27, 2021. Stocks were broadly lower in afternoon trading Wednesday, as investors focus on the outlook for the economy and corporate profits amid a still-raging coronavirus pandemic. (Courtney Crow/New York Stock Exchange via AP)
January 27, 2021 - 1:51 pm

Stocks Have Their Worst Day Since October As Big Tech Sinks

Technology companies led a broad sell-off in stocks Wednesday, knocking more than 600 points off the Dow Jones Industrial Average and handing the market its worst day in nearly three months. The S&P 500 fell 2.6%, its biggest single-day drop since it lost 3.5% on October 28. It had set a record...
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An unsold 2021 Model X sports-utility vehicle sits at a Tesla dealership Sunday, Jan. 24, 2021, in Littleton, Colo. Tesla reports earnings on Wednesday, Jan. 21. (AP Photo/David Zalubowski)
January 27, 2021 - 1:49 pm

Tesla Fights Pandemic, Rides Sales Jump To 1St Annual Profit

Riding a sales surge amid a global pandemic, Tesla Inc. on Wednesday reported that it posted its first annual net profit in 2020. In a year that saw its stock soar to make it the world’s most valuable automaker, Tesla earned $721 million, capped by a $270 million profit in the fourth quarter. It...
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FILE - In this May 7, 2020 file photo, a GameStop store is seen in St. Louis. Two hedge funds are bowing out of their short positions on the money-losing video game retailer. Citron Research’s Andrew Left said in a video posted on YouTube that his company is going to become more judicious in shorting stocks. Melvin Capital is also exiting GameStop, with manager Gabe Plotkin telling CNBC that the hedge fund was taking a significant loss. (AP Photo/Jeff Roberson, File)
January 27, 2021 - 8:16 am

In Battle Over Gamestop Shares, Two Big Players Flinch

A David and Goliath saga is unfolding in financial markets over the stock price of struggling retail chain GameStop. On Wednesday, Goliath walked away from the battle. Two Goliaths, actually. A pair of professional investment firms that placed big bets that money-losing video game retailer GameStop...
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A police cordon at Wrexham Industrial Estate near the British pharmaceutical manufacturing company Wockhardt in Wrexham, north Wales, Wednesday Jan. 27, 2021. Wockhardt UK, an arm of the Mumbai-based pharmaceutical company that is producing the Oxford-AstraZeneca vaccine in north Wales, said it notified authorities after receiving a suspect package on Wednesday morning. (Eleanor Barlow/PA via AP)
January 27, 2021 - 8:14 am

Uk Vaccine Plant Evacuated After Getting Suspicious Package

LONDON (AP) — A British pharmaceutical manufacturing company producing coronavirus vaccines had to partially evacuate its factory Wednesday after receiving a “suspicious package.” The U.K. arm of Mumbai-based pharmaceutical company Wockhardt, which is producing the Oxford-AstraZeneca vaccine in...
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Worker Javad Memarzadeh, of Needham, Mass., right, dusts washers in a display, Thursday, Oct. 29, 2020, at a Home Depot location, in Boston. Orders to U.S. factories for big-ticketed manufactured goods rose a moderate 0.9% in November  with a key category that tracks business investment plans showing a gain. The Commerce Department said Wednesday, Dec. 23 that the November gain in orders for durable goods, items expected to last at least three years, followed stronger gains in recent months including a 3.8% rise in October.(AP Photo/Steven Senne)
January 27, 2021 - 6:49 am

Us Durable Goods Orders Show Modest 0.2% December Gain

WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods rose a modest 0.2% in December, held back by a big drop in the volatile aircraft sector. A key category that tracks business investment decisions slowed. The rise in orders for durable goods, items expected to last at...
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FILE - In this Jan. 25, 2020, file photo a Boeing 777X airplane takes off on its first flight with the Olympic Mountains in the background at Paine Field in Everett, Wash. Boeing is reporting another huge loss, this one because of a setback to its 777X widebody jetliner. Boeing said Wednesday, Jan. 27, 2021, it lost $8.4 billion in the fourth quarter on weaker demand for planes during the pandemic. (AP Photo/Ted S. Warren, File)
January 27, 2021 - 6:02 am

Boeing Posts $8.4 Billion Loss On Weaker Demand For Planes

Boeing lost $8.4 billion in the fourth quarter — capping a record loss for all of 2020 — as the pandemic undercut demand for planes, and the company announced another costly delay to its new large jetliner designed for long-haul flights. Most of Boeing's troubles over the past two years have...
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