Dollar Tree announced Wednesday it is considering a sale of its more grocery-focused Family Dollar brand. The company had recently shared plans to close almost 1,000 Family Dollar stores in an attempt to revamp the struggling business. The discounter closed more than 500 locations during its fiscal first quarter, it said Wednesday. “We are already beginning to see progress in this targeted strategy ...
Bad economic news so far has been mostly positive for the stock market, as investors worry over whether the Federal Reserve will start cutting interest rates. There’s a danger, though, of overdoing it, where too much bad news could signal a significant downturn and even recession ahead. That’s the dilemma the market finds itself in approaching a week of critical data, ...
Nvidia passed Apple in market cap on Wednesday as investors continue betting on the chipmaker behind the artificial intelligence boom. It is now the second-most valuable public company, behind Microsoft. Nvidia also hit a $3 trillion market cap milestone on Wednesday after shares rose over 5%. At market close, Nvidia had a market value of $3.019 trillion, versus Apple’s, which stood at $2.99 trillion. Microsoft is the most ...
The Federal Aviation Administration has granted Archer Aviation a key certification that gets the electric air taxi maker closer to eventually flying travelers, the company said Wednesday. Archer is making electric vertical takeoff and landing aircraft, or eVTOLs, and won orders and backing in 2021 from United Airlines, which says the new technology could reduce carbon emissions. Carriers have been investing in or ordering eVTOL ...
The average cost of keeping an American home cool from June to September is set to hit $719, nearly 8% higher than last year, according to new projections from advocates for low-income households. That level would be the highest in a decade, and a steep jump from the $573 average in 2021. Organizations distributing federal financial support expect they’ll be ...
Jeep plans to grow U.S. sales of its plug-in hybrid electric vehicles by as much as 50% this year as it leans into the technology as a bridge between its traditional gas-guzzling SUVs and all-electric vehicles amid a slower-than-expected sales pace of EVs. The Stellantis brand expects to sell 160,000 to 170,000 plug-in hybrid electric vehicles, or PHEVs, in the U.S. this ...
Spotify is increasing its prices in the United States for many of its subscription plans. In a statement on its website, the audio streaming service said the increases were necessary so that it can ‘invest in and innovate on our product features and bring users the best experience.’ Here are the changes: The company still offers a limited-service ad-supported tier, ...
Normal trading resumed late Monday morning after the New York Stock Exchange said a technical issue had led to large fluctuations in the prices displayed for certain stocks, including Warren Buffett’s Berkshire Hathaway. A little after 11 a.m. ET, the NYSE said the issue involved the market’s main electronic stock price publisher, but that most stocks had since reopened or ...
DETROIT — Ford’s latest project out of the Motor City is the restoration and reopening of an abandoned train station, for decades a symbol of Detroit’s downfall and now the automaker’s new technology campus. The $950 million project encompasses the 18-story former train station called Michigan Central Station — once the state’s marquee transit building — an adjacent 270,000-square-foot building and other, supporting facilities. The ...
A produce company is recalling cucumbers it shipped to 14 states over concerns they may be contaminated with Salmonella. Fresh Start Produce Sales Inc. of Delray, Florida, said in a voluntary recall notice posted on the Food and Drug Administration’s website that testing on a sample in Pennsylvania had revealed the presence of the bacteria. The FDA is conducting whole-genome ...