Breaking News

Business

Crafts retailer Joann files for Chapter 11 bankruptcy as consumers cut back on pandemic-era hobbies

NEW YORK (AP) — Fabric and crafts retailer Joann has filed for Chapter 11 bankruptcy protection, as consumers continue to cut back on discretionary spending and some pandemic-era hobbies. In a Monday statement, the Hudson, Ohio-based company said that it expected to emerge from bankruptcy as early as the end of next month. Following this process, Joann will likely become privately-owned by certain lenders and industry parties, the company added — meaning its shares would no longer be publicly traded on stock exchanges. Joann’s more than 800 stores and its website will continue ...

Biden opposes plan to sell U.S. Steel to a Japanese firm, citing the need for ‘American steel workers’

WASHINGTON (AP) — President Joe Biden came out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan, saying on Thursday that the U.S. needs to “maintain strong American steel companies powered by American steel workers.” In a statement, Biden added: “U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.” By opposing the merger, Biden has chosen to support unionized workers in a critical election year at the risk of upsetting the ...

Stock market today: Wall Street drifts to a mixed close, holding near record levels

NEW YORK (AP) — U.S. stocks drifted to a mixed finish Wednesday, as a lull carried through financial markets worldwide. The S&P 500 slipped 9.96 points, or 0.2%, from its all-time high set a day before to 5,165.31. The Dow Jones Industrial Average rose 37.83, or 0.1%, to 39,043.32 and pulled within 90 points of its record set last month. The Nasdaq composite dipped 87.87, or 0.5%, to 16,177.77. The bond market was also relatively quiet, with Treasury yields ticking higher, while stock markets abroad were mixed after making mostly modest moves. The biggest action may have been in ...

Equal education, unequal pay: Why is there still a gender pay gap in 2024?

CHICAGO (AP) — Not even education can close the pay gap that persists between women and men, according to a recent U.S. Census Bureau report. Whether women earn a post-secondary certificate or graduate from a top-tier university, they still make about 71 cents on the dollar compared with ...

New York’s budget season starts with friction over taxes and education funding

ALBANY, N.Y. (AP) — New York Democrats who control the state Senate and Assembly have released their budget proposals for the year, setting up potential battles with Gov. Kathy Hochul’s office over education funding and income taxes. The spending plans mark the start of the state’s budget negotiations, a process that will play out behind closed doors between the governor, Senate leader and Assembly speaker ahead of the budget’s April 1 due date. Hochul said she thought the budget could be wrapped up on time this year, appearing keen to avoid the kind of intraparty squabble ...