Federal safety regulators say they have cleared the way for Verizon and AT&T to power up more towers for new 5G service without causing radio interference with airplanes. The Federal Aviation Administration said Friday that it took the steps after receiving details from the telecommunications companies about the location of wireless transmitters. The FAA’s move…
BUENOS AIRES, Argentina (AP) — Argentina has reached an agreement with the International Monetary Fund to refinance more than $40 billion in debt, President Alberto Fernández said Friday. “We had an unpayable debt that left us without a present or a future, and now we have a reasonable agreement that will allow us to grow…
WASHINGTON (AP) — A measure of prices that is closely tracked by the Federal Reserve rose 5.8% last year, the sharpest increase since 1982, as brisk consumer spending collided with snarled supply chains to raise the costs of food, furniture, appliances and other goods. The report Friday from the Commerce Department also said that consumer…
Caterpillar’s sales surged in the final quarter of the year despite ongoing disruptions in the global supply chain that have hit almost every sector of the economy. Executives said Friday that demand for construction equipment remains elevated, but supply issues and cooling construction in China depressed the company’s stock. Sales climbed 23% to $13.8 billion…
TOKYO (AP) — Marcelo Claure, who joined SoftBank Group after turning around one of its key investments, office-sharing business WeWork, is leaving, the Japanese technology company said Friday. Claure has long been seen as a close aide to SoftBank Chief Executive Masayoshi Son, forging a partnership spanning nine years and overseeing a sprawling investment portfolio….
Wall Street ended a volatile week of trading Friday with a late-afternoon buying spree that gave the major stock indexes their biggest gains of the year and snapped a three-week losing streak. The S&P 500 rose 2.4%, with nearly all of it coming in the last hour of trading. The Dow Jones Industrial Average added…
OMAHA, Neb. (AP) — The Alden Global Capital hedge fund is sending its own appeal to shareholders of newspaper publisher Lee Enterprises as part of its campaign to acquire the company. The New York-based hedge fund, which is already one of the nation’s largest newspaper owners, urged Lee shareholders Thursday to support two new directors…
The Home Depot on Thursday named a veteran executive as its new CEO. Edward “Ted” Decker, who has served as Home Depot’s chief operating officer since October 2020, will become president and CEO on March 1. Current Chairman and CEO Craig Menear will continue to serve as the company’s board chairman. Decker, 58, joined Atlanta-based…
NEW YORK (AP) — Visa’s fiscal first-quarter profits rose 27%, as improving economies worldwide, as well as more people using digital payments, helped lift the company’s fortunes. The San Francisco-based company said Thursday that it earned $3.96 billion, or $1.81 a share, in the final three months of 2021, up from a profit of $3.13…
SAN RAMON, Calif. (AP) — Apple shook off supply shortages that have curtailed production of iPhones and other popular devices to deliver its most profitable holiday season yet. The results posted Thursday for the final three months of 2021 help illustrate why Apple is looking even stronger at the tail end of the pandemic than…
