Applications for jobless benefits in the U.S. retreat after three weeks of elevated claims
U.S. employers added a surprising 339,000 jobs last month, well above expectations, painting a mostly encouraging picture of the job market.
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Federal Reserve might tighten financial rules due to bank failures, Powell says
Such proposals are likely to face resistance from the banking industry and some congressional Republicans, who argue that the Fed had the necessary tools to prevent the bank collapses but failed to use them.
First-quarter U.S. economic growth revised up sharply
Despite the big increase, the government’s third and final report on January-March economic growth still marked a deceleration from the 2.6% annual rate from October through December and the 3.2% growth from July through September.
Supreme Court strikes down affirmative action in college admissions
The decision will force institutions of higher education to look for new ways to achieve diverse student bodies.
Largest U.S. banks would survive severe recession, Fed’s ‘stress tests’ show
The Fed’s report issued Wednesday did show some relative weakness among the midsize banks and “super regional” banks, with some getting a passing grade with a smaller cushion than usual. Those results could raise eyebrows among investors and policymakers.
Congressional Budget Office: U.S. debt to soar over next 30 years
The nonpartisan agency estimates in its latest 30-year outlook, released Wednesday, that publicly held debt will be equal to a record 181% of American economic activity by 2053.
Belief that U.S. might avoid recession growing among economists
Analysts say a “rolling recession” and what they call a “richcession” could help the economy as a whole manage to avoid a full-fledged recession.
Haze of unhealthy air settles over the Great Lakes region
Drifting smoke from the ongoing wildfires across Canada has created curtains of haze and raised air quality concerns throughout the Great Lakes region and in parts of the central and eastern United States.
Threatened by shortages, electric car makers race for supplies of lithium for batteries
A shortfall in lithium would be an obstacle for government and industry plans to ramp up sales to tens of millions of electric vehicles a year. It is fueling political conflict over resources and complaints about the environmental cost of extracting them.
Tesla EV plug closer to becoming industry standard
A key U.S. automotive industry organization says it will set performance standards for Tesla’s electric vehicle charging cords in another move toward using the Tesla plug on all electric vehicles.
Instagram, Facebook add more parental controls, but critics say they aren’t enough
Meta is adding some new parental supervision tools and privacy features to its platforms as social media companies face increasing scrutiny over their effects on teen mental health.
Flight delays expected this weekend as airlines face major test
Travelers waited out widespread delays at U.S. airports on Tuesday, an ominous sign heading into the long July 4 holiday weekend, which is shaping up as the biggest test yet for airlines that are struggling to keep up with surging numbers of passengers.
Ford cutting more jobs to reduce costs amid transition to electric vehicles
The company confirmed Tuesday that it was starting to notify several hundred engineers and other salaried employees that their jobs are being eliminated. The firings come after around 200 Ford contract employees were let go last week.
Still hiring: Big Tech layoffs give other employers an opening
Hotel chains, retailers, investment firms, railroad companies and even the IRS have signaled on recruiting platforms that they are hiring software engineers, data scientists and cybersecurity specialists.
U.S. consumer confidence jumps to highest level since early 2022
The Conference Board said that consumers’ fears of a recession declined in June, with 69.3% of respondents saying a recession is somewhat or very likely in the next 12 months, down from 73.2% in May.
Hackers steal personal info on thousands of pilot applicants at American, Southwest
According to letters that the airlines were required to file with regulators, hackers gained access to names, birth dates, Social Security and passport numbers, and driver and pilot-license numbers of applicants for pilot and cadet jobs.
Next step for obesity drug makers replacing needles with pills
Medical experts predict the pills will be popular, especially among people who want to lose weight but are fearful of needles.
Big Supreme Court decisions coming this week
The high court has 10 opinions left to release over the next week before the justices begin their summer break. The last opinions to be released cover some of the most contentious issues.
Pence calls for his 2024 rivals to back 15-week federal abortion ban
Former Vice President Mike Pence used a Friday gathering of some of the nation’s leading Christian conservatives to urge his rivals for the Republican presidential nomination to support a federal abortion ban.
Wizards, Pacers exchange players after making NBA Draft picks
The Indiana Pacers had the No. 7 pick and Washington was at No. 8, but after the teams made their picks, NBA Commissioner Adam Silver announced the teams were exchanging the players in a trade to be finalized later.