Business | The Spokesman-Review

News > Business

It was a tough year for almost every bank not named JPMorgan

UPDATED: Wed., Dec. 27, 2023

More than a decade after regulators vowed to tame the risks of too-big-to-fail banks, White House officials were on a call. Why, one attendee asked, was JPMorgan Chase & Co. allowed to buy First Republic Bank that morning in a government-led auction?

News > Business

Microsoft, OpenAI sued by New York Times for copyright infringement

UPDATED: Wed., Dec. 27, 2023

The New York Times Co. sued Microsoft Corp. and OpenAI Inc. for using its content to help develop artificial intelligence services, in a sign of the increasingly fraught relationship between the media and a technology that could upend the news industry.

News > Business

Toyota saw record sales, output in November on demand abroad

UPDATED: Wed., Dec. 27, 2023

Toyota Motor Corp. is poised to keep its title as the world's best-selling carmaker, beating Volkswagen AG for the fourth consecutive year after steady demand across North America and Europe helped sales and production reach new records in November.

News > Business

The late-night email to Tim Cook that set the Apple Watch saga in motion

UPDATED: Wed., Dec. 27, 2023

About 1 a.m. California time in 2013, a scientist emailed Apple Inc. Chief Executive Officer Tim Cook with an irresistible pitch.

News > Local business

Local Lego retail businesses have yet to slow post-holiday

Wed., Dec. 27, 2023

Spokanites of all ages were delighted to find Lego boxes under their Christmas tree on Monday, while retailers of the “plastic gold” are still seeing flurries of business after the holidays.

News > Business

Apple to fight watch ban in court after White House declines to act

UPDATED: Tue., Dec. 26, 2023

Apple Inc., seeking to defend a business that generates roughly $17 billion a year, is appealing a U.S. sales ban of its smartwatches after the White House refused to overturn the measure.

News > Business

Robust holiday shopping sends economy soaring into 2024

UPDATED: Tue., Dec. 26, 2023

They bought books and coats, fancy dinners and plane tickets. And as 2023 winds to a close, holiday shoppers offered yet another sign that the U.S. economy will roar into the new year.

News > Business

Bitcoin dips below $42,000 while memecoin rally shows signs of stalling

UPDATED: Tue., Dec. 26, 2023

Bitcoin dropped below $42,000 for the first time in a week and the recent rally in memecoins has started to show signs of stalling.

News > Business

U.S. home prices extend records, rising for a ninth straight month

UPDATED: Tue., Dec. 26, 2023

Home prices in the U.S. rose for a ninth straight month, reaching a fresh record as buyers battled for a stubbornly tight supply of listings.

News > Local business

100 years ago: Spokane’s Santa Clauses deliver 250,000 items in 1 day

Sat., Dec. 23, 2023

News > Business

U.S. stock gauges log longest weekly run in years

UPDATED: Fri., Dec. 22, 2023

Financial assets from stocks to bonds notched another winning week as data readouts only reinforced Wall Street's conviction in early and deep rate cuts next year.

News > Business

Maersk expects Red Sea shipping chaos to last for months

UPDATED: Fri., Dec. 22, 2023

The chaos impacting shipping through the Red Sea is threatening to continue for months, according to the world's second-largest container line A.P. Moller-Maersk A/S.

News > Business

U.S. bonds are on best run since March

UPDATED: Fri., Dec. 22, 2023

Treasuries are set to book a fourth-straight week of gains – the best winning streak since March – on building investor confidence that the Federal Reserve will begin cutting interest rates next quarter.

News > Business

Nike falls most in more than a year on weaker sales, job cuts

UPDATED: Fri., Dec. 22, 2023

Shares of Nike Inc. tumbled Friday, dragging down sportswear retailers and rival brands, after the sneaker maker said it will slash jobs and streamline operations in response to weaker sales.

News > Business

U.S. short-term inflation expectations hit lowest since 2021

UPDATED: Fri., Dec. 22, 2023

U.S. consumers remained sanguine about the inflation outlook as 2023 drew to a close, contributing to a robust rebound in sentiment.

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Spokane home sellers expect tough sledding early into next year

UPDATED: Fri., Dec. 22, 2023

Forces that slowed the the local housing market may be thawing, but homebuyers in the Spokane area likely won't see much relief in the first three months of 2024, a local real estate official said.

News > Business

Fed’s preferred inflation gauges cool, reinforcing rate-cut tilt

UPDATED: Fri., Dec. 22, 2023

The Federal Reserve's preferred gauge of underlying inflation barely rose in November and trailed policymakers' 2% target by one measure, reinforcing the central bank's pivot toward interest-rate cuts next year.

News > Business

Honda recalls 2.6 million vehicles in U.S. over fuel pump defect

UPDATED: Fri., Dec. 22, 2023

Honda is recalling 2.6 million cars, SUVs and vans in the United States over a fuel pump defect that could cause the vehicles to stall on the road or fail to start.

News > Business

No one wants used EVs, making new ones a tougher sell too

UPDATED: Tue., Dec. 26, 2023

The shift away from cars with dirty combustion engines is running into a new hurdle: Drivers don't want to buy used electric vehicles, and that's undermining the market for new ones, too.

News > Business

White House clean-energy spending boom puts Biden in the crosshairs

UPDATED: Fri., Dec. 22, 2023

The Biden administration raised the stakes on its politically fraught bet on massive subsidies for nascent clean-energy technologies Friday, rolling out a plan for awarding billions of dollars in tax credits to the makers of ultrapowerful "green" hydrogen fuel.

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