Business

Shake Shack named a new CEO on Thursday, the first outsider to lead the company in its 20-year history. Rob Lynch, the current president and CEO of the Papa John’s pizza chain, will join Shake Shack’s board and become its CEO on May 20. Lynch succeeds Randy Garutti, who started what would become Shake Shack from a hot dog cart …

TOBISHIMA, Japan (AP) — Japan’s space agency and its prime contractor said Thursday they hope to be able to forge a profitable launch business with their new H3 rocket after its first successful flight last month in an increasingly competitive market dominated by Space X. Japan Aerospace Exploration Agency and Mitsubishi Heavy Industries have been developing the H3 as a …

Wall Street notched another record high as traders wait to hear what the Federal Reserve will do with interest rates. The S&P 500 shook off an early loss and closed 0.6% higher Tuesday, beating the all-time high it set last week. The Dow Jones Industrial Average rose 0.8% and the Nasdaq composite rose 0.4%, both closing slightly below their own …

NEW YORK (AP) — After weeks of testing, an electronic system for filing returns directly to the IRS is now available to taxpayers from 12 selected states. The new system, called Direct File, is a free online tool. Taxpayers in the selected states who have very simple W-2s and claim a standard deduction may be eligible to use it this …

WASHINGTON (AP) — The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported Wednesday in a slight downgrade from its initial estimate. The expansion in the nation’s gross domestic product — the economy’s total output of goods and services — slipped from a red-hot 4.9% from July …

When it comes to safety culture at Boeing, there is a “disconnect” between senior management and workers, and employees responsible for checking the company’s planes question whether they can raise issues without fear of retaliation, according to a panel of outside experts. The aviation-industry and government experts also said safety training and procedures at Boeing are constantly changing, leading to …

LOS ANGELES (AP) — Rising mortgage rates through much of 2023 kept many prospective homebuyers and sellers on the sidelines and the housing market in a deep slump. Homebuilders responded by lowering prices and offering incentives like mortgage rate buydowns to help buyers get over their affordability hump. The approach helped lift sales of new U.S. homes 4.2% over 2022, …

Technology is so pervasive and invasive that it’s polarizing people, producing feelings of love and loathing for its devices, online services and the would-be visionaries behind them, according to a longtime Silicon Valley reporter. Kara Swisher unwraps how we got to this point in her incendiary memoir, “Burn Book,” coming out Tuesday, an exposé that also seeks to avert technological …

A look at some of the key business events and economic indicators upcoming this week EYE ON CONSUMERS The Conference Board delivers its latest monthly snapshot of U.S. consumer confidence Tuesday. Economists expect that Americans’ confidence waned this month. In January, the index rose to its highest level in two years. Consumer spending accounts for around 70% of U.S. economic …

ATLANTIC CITY, N.J. (AP) — The Mohegan tribe will end its management of Atlantic City’s Resorts casino at the end of this year, both parties said Monday. The move will conclude an agreement the tribe’s gambling arm, Mohegan Gaming Advisors, made with Resorts in 2012 six months after the casino’s co-owner, veteran gambling executive Dennis Gomes, died. Gomes’ death left …