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Major airlines are reducing their flight schedules and revising or withdrawing their profit outlooks for the year due to less domestic travel demand. American Airlines pulled its financial guidance for 2025 last week, joining rivals Southwest and Delta in declaring the economic outlook too uncertain to provide full-year forecasts. All three airlines cited weakening sales [...]
The company that owned the railcar that caused the East Palestine train derailment in 2023 won’t have to help pay for the $600 million settlement agreed to by Norfolk Southern and residents. An Ohio jury last week decided that GATX isn’t liable for the settlement even though the failure of a bearing on its railcar [...]
WASHINGTON (AP) — Federal health officials earlier this week said they would urge food makers to phase out petroleum-based artificial colors in the nation’s food supply, but stopped short of promising a formal ban and offered few specifics on how they intended to achieve the change. Food and Drug Administration Commissioner Marty Makary said at [...]
NEW YORK (AP) — Stores selling secondhand clothes, shoes and accessories are poised to benefit from President Donald Trump’s new trade policies. American styles carry international influence, but nearly all of the clothing sold domestically is made elsewhere. The Yale University Budget Lab last week estimated short-term consumer price increases of 65 percent for clothes [...]
OMAHA, Neb. (AP) — Several companies contacted America’s only rare earths mine soon after China responded to President Donald Trump’s tariffs this month by limiting exports of those minerals used for military applications and in many high-tech devices. “Based on the number of phone calls we’re receiving, the effects have been immediate,” said Matt Sloustcher, [...]
OMAHA, Neb. (AP) — Railroad company CSX’s profit fell 27 percent in the first quarter as two major construction projects forced them to reroute some trains and constrained its response to flooding and other weather challenges, curtailing shipments. The Jacksonville, Fla.-based railroad operator said it earned $646 million net income, or 34 cents per share, [...]
NEW YORK (AP) — Shoppers increased their shopping last month, fueled by a spending spree on big ticket items from gadgets to cars. Retail sales rose 1.4 percent in March, after rising 0.2 percent in February, according to the Commerce Department. Retail sales fell 1.2 percent in January. Excluding sales at dealers of autos and [...]
LOS ANGELES (AP) — Nvidia earlier this week announced that it will produce its artificial-intelligence super computers in the United States for the first time. The tech giant said it has commissioned more than 1 million square feet of manufacturing space to build and test its specialized Blackwell chips in Arizona and AI super computers [...]
Meta Platforms Inc. faces an antitrust trial this week that could force the tech giant to break off Instagram and WhatsApp, startups it bought more than a decade ago that have since grown into social media powerhouses. The looming antitrust trial will be the first big test of President Donald Trump’s Federal Trade Commission’s ability [...]
WASHINGTON (AP) — The federal government’s budget deficit has grown to more than $1.3 trillion in the first half of the 2025 fiscal year — the second highest six-month deficit on record, according to Treasury Department data released last week. The deficit for October through March spans the administrations of presidents Joe Biden and Donald [...]