Category: Business

The impact of the coronavirus on the U.S. economy would likely need to be “material and persistent” for the central bank to change its outlook, U.S. Federal Reserve Vice Chair Richard Clarida indicated on Tuesday. “It is really just too soon to tell the extent to which this does impact global activity and the extent […]

A group of 39 state attorneys general on Tuesday announced an investigation into Juul Labs Inc’s marketing practices, adding to mounting legal and regulatory problems for the e-cigarette maker over its role in the nation’s youth vaping epidemic. The probe, led by attorneys general in Connecticut, Florida, Nevada, Oregon and Texas, will examine whether Juul […]

A U.S. labor board on Tuesday finalized a rule that will make it more difficult to hold companies liable for unlawful labor practices by franchisees and contractors, reversing a more worker-friendly Obama-era standard criticized by business groups. The rule by the National Labor Relations Board (NLRB), which was first proposed in September 2018, requires that […]

Although Wells Fargo & Co settled major probes with federal agencies over abusive sales practices last week, the bank and its former executives are not out of the woods yet, legal and regulatory experts said. Wells, the fourth-largest U.S. lender, reached a $3 billion deal with the U.S. Department of Justice and Securities and Exchange […]

Forever 21’s new co-owner Authentic Brands Group said on Tuesday it had appointed former H&M (HMb.ST) executive Daniel Kulle as the new chief executive officer of the bankrupt apparel retailer. Kulle, a two-decade veteran at the Swedish apparel retailer, most recently worked as strategic adviser to former H&M Group Chief Executive Karl-Johan Persson. Authentic Brands […]

It’s ride-hailing, farm style. Deere & Co. (DE.N) is teaming up with the “Uber of tractors” in Africa and betting on a future where farmers summon machines with the touch of a button. The world’s leading farm equipment maker is outfitting its tractors with startup Hello Tractor’s technology, which allows farmers to hail the machines […]

“We are closely monitoring the emergence of the coronavirus…” Clarida said in remarks to the National Association for Business Economics conference in Washington. “But it is still too soon to even speculate about either the size or persistence of these effects, or whether it will lead to a material change in the outlook.” Clarida, the […]