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MONEY NEWS FROM THE ASSOCIATED PRESS

Money

  • Opposition grows to 4th cruise ship dock in Mexico’s Cozumel

    MEXICO CITY (AP) — With tourism shattered by the pandemic, critics say yet another cruise ship dock is the last thing that Mexico’s Caribbean island of Cozumel needs. Cozumel already has three such docks, and before the pandemic it ranked as the world’s busiest port of call for cruise ships. But since last June, not […]
  • Opposition grows to 4th cruise ship dock in Mexico’s Cozumel

    MEXICO CITY (AP) — With tourism shattered by the pandemic, critics say yet another cruise ship dock is the last thing that Mexico’s Caribbean island of Cozumel needs. Cozumel already has three such docks, and before the pandemic it ranked as the world’s busiest port of call for cruise ships. But since last June, not […]
  • Peloton expects to lose $165 million in revenue from recall

    NEW YORK (AP) — Peloton said Thursday that the recall of its treadmills will shrink its revenue by $165 million in the current quarter. The company agreed on Wednesday to recall about 125,000 of its Tread+ treadmills, after refusing to do so for weeks even though the machine was linked to the death of one […]
  • Canadian Pacific gets procedural OK in bid for US railroad

    OMAHA, Neb. (AP) — Regulators on Thursday approved Canadian Pacific’s plan for acquiring Kansas City Southern if that railroad picks CP’s $25 billion bid over rival Canadian National’s $33.7 billion offer. The federal Surface Transportation Board said it would accept Canadian Pacific’s plan to set up a voting trust that would acquire Kansas City Southern […]
  • Apple’s app store chief fends off attacks in antitrust trial

    SAN RAMON, Calif. (AP) — Apple’s top app store executive on Thursday faced an avalanche of documents unleashed Thursday by an Epic Games lawyer aiming to prove allegations that the iPhone maker has been gouging app makers as part of a scheme hatched by Apple’s late co-founder Steve Jobs. The confrontation in an Oakland, California, […]
  • California fire victims see little payout from settlement

    SAN FRANCISCO (AP) — A trust approved by a federal judge to help compensate victims of deadly California wildfires sparked by Pacific Gas & Electric equipment paid survivors just $7 million while racking up $51 million in overhead in its first year of operation, KQED News reported. The Fire Victim Trust was set up to […]
  • Beyond Meat’s Q1 hobbled by marketing costs, lower prices

    Plant-based meat company Beyond Meat posted a first-quarter loss Thursday after higher sales were offset by marketing costs and lower prices. The company based in El Segundo, California, reported that its revenue rose 11.4% to $108.2 million in the January-March period. That fell short of Wall Street’s forecast of $112.6 million, according to analysts polled […]
  • Ex-health chief: Docs wrote excessive opioid prescriptions

    CHARLESTON, W.Va. (AP) — West Virginia’s former health commissioner described a culture of doctors for years writing more opioid prescriptions for their patients than necessary in a landmark trial in which local governments accuse three large drug distributors of fueling the U.S. opioid epidemic. Dr. Rahul Gupta testified Thursday that doctors had a “culture of […]
  • How major US stock indexes fared Thursday

    Stocks are closing higher Thursday, as gains by banks and technology companies led a broad rally. The Dow Jones Industrial Average hit a new high. Healthcare was hurt by news late Wednesday that the White House supports waiving intellectual property rights for coronavirus vaccines to help immunize poorer countries faster. Shares of drugmaker Moderna lost […]
  • Passenger jet lands safely in LA after bird strikes engine

    LOS ANGELES (AP) — An Allegiant airliner returned safely to Los Angeles International Airport after the crew reported striking a bird Thursday morning, authorities said. Allegiant Air Flight 314, an Airbus A319 that was headed to Utah, landed without incident at 7:44 a.m., said Ian Gregor, a Federal Aviation Administration spokesman. The jet experienced a […]