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Tepid outlook from Target after 4th quarterly profit dip

NEW YORK (AP) — Target plans to invest as much as $5 billion this year expanding services for customers, including a drive up service for returns, renovations at 175 stores and improvements in online shopping. The Minneapolis retailer announced the investments Tuesday during its annual investor meeting as it reported a 43% tumble in profits for the holiday quarter, reflecting the ongoing challenges of balancing more cautious consumer spending and rising costs. Target issued a cautious outlook for the year as inflation squeezes household budgets, but it topped Wall Street ...

US economy sending mixed signals: Here’s what it all means

WASHINGTON (AP) — Maybe it was just too good to be true. For a few weeks in late January and early February, the U.S. economy seemed to have reached a rare sweet spot. Inflation was steadily slowing from painful heights. And growth and hiring remained surprisingly sturdy despite ever-higher interest rates imposed by the Federal Reserve. Perhaps, the thinking went, the Fed’s inflation fighters were managing to nail a notoriously difficult “soft landing’’: A scenario in which borrowing and spending slow just enough to tame inflation without tipping the world’s biggest ...

Nissan recalls over 800K SUVs; key defect can cut off engine

DETROIT (AP) — Nissan is recalling more than 809,000 small SUVs in the U.S. and Canada because a key problem can cause the ignition to shut off while they’re being driven. The recall covers certain Rogues from the 2014 through 2020 model years, as well as Rogue Sports from 2017 through 2022. Nissan says the SUVs have jackknife folding keys that may not stay fully open. If driven with the key partially folded, a driver could touch the fob, inadvertently turning off the engine. This can cause loss of engine power and power brakes, and the air bags might not inflate in a ...

Hawbaker wins award for quality work in ’22

LEWISTOWN — The National Asphalt Pavement Association (NAPA) announced that Glenn O. Hawbaker Inc. of State College, won a 2022 Quality in Construction Award for excellence in construction of an asphalt pavement. The company was recognized during the association’s 68th Annual Meeting for ...

Stocks steady themselves after Street’s rout last week

By STAN CHOE The Associated Press NEW YORK — Stocks steadied themselves Monday following Wall Street’s worst week since early December. The S&P 500 rose 12.20 points, or 0.3% to 3,982.24 for just its second gain in the last seven days. The Dow Jones Industrial Average gained 72.17, or 0.2%, to 32,889.09, while the Nasdaq composite climbed 72.04, or 0.6%, to 11,466.98. Stocks have struggled in February after a strong start to the year as reports have shown inflation and much of the overall economy are staying more resilient than expected. While the strong economic data calms ...

Canada bans TikTok from all government mobile devices

TORONTO (AP) — Canada announced Monday it is banning TikTok from all government-issued mobile devices, reflecting widening worries from Western officials over the Chinese-owned video sharing app. Prime Minister Justin Trudeau said it might be a first step to further action. “I suspect that as government takes the significant step of telling all federal employees that they can no longer use TikTok on their work phones many Canadians from business to private individuals will reflect on the security of their own data and perhaps make choices,” Trudeau said. The European ...