Business

NEW YORK (AP) — Americans have become increasingly reliant on their credit cards since the pandemic. So much so that Capital One is willing to bet more than $30 billion that they won’t break the habit. Capital One Financial announced Monday that it would buy Discover Financial Services for $35 billion. The combination could potentially shake up the payments industry, …

Stocks returned to record heights following some mixed reports on the economy. The S&P 500 rose 0.6% Thursday, surpassing the all-time high it set last week. The Dow Jones Industrial Average rose 0.9%, and the Nasdaq composite added 0.3%. Treasury yields eased in the bond market after a report showed sales at U.S. retailers weakened by more last month than …

FORT WORTH, Texas (AP) — Federal safety officials said Monday they are investigating an incident in which an American Airlines jet had a braking problem and ran off the end of the runway after landing at Dallas-Fort Worth International Airport. The Federal Aviation Administration said the plane went into a safety area beyond the end of the runway on Saturday …

Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs that are leading to higher prices for chocolate. Cocoa futures prices have doubled over the past year and hit an all-time high of $5,874 per metric ton on Friday. Bad weather in West Africa is being blamed for damaging crop yields, which is pushing …

BANGKOK (AP) — Share were mostly higher in Asia on Thursday after the S&P 500 neared the 5,000 level for the first time. Hong Kong’s benchmark fell while Shanghai advanced after China replaced its top stock market regulator. Tokyo surged 2% on strong corporate earnings. Beijing has been struggling to prop up what have been some of the world’s worst-performing …

ATLANTA (AP) — Top Georgia lawmakers say moviemakers should be required to do more than just show a peach at the end of the credits to get the top benefit from Georgia’s lucrative film tax credit. Thanks in large part to tax breaks, productions including “The Hunger Games,” the Marvel movies, the Fast & Furious installment “Furious 7” and many …

From Flamin’ Hot Cheetos to Sweet Heat Starburst, America’s snacks are getting spicier. Now, Coca-Cola wants in on the trend. On Wednesday, the Atlanta beverage giant introduced Coca-Cola Spiced, the first new permanent offering to its North American portfolio in three years. Coca-Cola Spiced and Coca-Cola Spiced Zero Sugar will go on sale in the U.S. and Canada on Feb. …

BEIJING (AP) — China replaced the head of its market watchdog Wednesday in an apparent attempt to restore confidence in financial markets following a prolonged downturn. Official media said Wu Qing, a former chairman of the Shanghai Stock Exchange, would replace Yi Huiman as chairman and Communist Party chief of the China Securities Regulatory Commission. Chinese stocks have been trading …

General Motors is recalling more than 323,000 heavy-duty pickup trucks in the U.S. because the electronic tailgate release switches can short circuit and open the gates while the vehicles are in park. The recall covers certain Chevrolet Silverado and GMC Sierra 2500 and 3500 trucks from the 2020 through 2024 model years. The National Highway Traffic Safety Administration says in …

TOKYO (AP) — Toyota raised its full fiscal year profit forecast Tuesday after reporting its profit in the October to December quarter nearly doubled from the year before. Toyota Motor Corp.’s third quarter profit totaled 1.36 trillion yen ($9 billion), up from 727.9 billion yen in the same period in 2022, as Japan’s top automaker recovered from losses suffered when …