Business

In the United States, hiring is increasing sharply, as are salaries
Business

In the United States, hiring is increasing sharply, as are salaries

Related media - Recent news Employers created 272,000 jobs last month, the Labor Department reported Friday, well above what economists had expected as hiring had gradually slowed. That's an increase from the average of 232,000 jobs over the previous 12 months, muddying the picture of an economy that is relaxing to a more sustainable pace. What most concerns the Federal Reserve, which meets next week and again in July, is the 4.1% increase in wages over last year, a sign that inflation may not yet have been defeated. “For those who thought they were going to see a rate cut in July, that door has largely been closed,” said Beth Ann Bovino, chief U.S. economist at U.S. Bank. While wage increases are good for workers, she noted, persistent price increases undermine their spen...
Boeing in hot water again for sharing details of plane crash investigation
Business

Boeing in hot water again for sharing details of plane crash investigation

Related media - Recent news Boeing is facing new criticism after the disclosure of a January crash involving a 737 Max plane. During a factory visit, a Boeing executive revealed details about missing bolts that led to a panel coming off during the crash. flight. The information sharing has angered the National Transportation Safety Board (NTSB), which called it a “blatant violation” of its own investigation rules. The NTSB is investigating the crash and says Boeing is not allowed to discuss details or speculate about the cause. As punishment, they will limit Boeing’s access to investigation information and prevent them from questioning others at an upcoming hearing. This comes after two deadly Max crashes in 2018 and 2019, which raised concerns about Boeing's past assurances of impro...
Anthony O’Reilly, the Irish tycoon who ran Heinz, has died at the age of 88
Business

Anthony O’Reilly, the Irish tycoon who ran Heinz, has died at the age of 88

Related media - Recent news Anthony JF O'Reilly, a charming, ambitious, Irish-born former president of the HJ Heinz Company who also owned newspapers, luxury brands and trophy houses in France and the Bahamas, only to lose nearly everything in his eighth, has died. decade. on May 18 in Dublin. He was 88 years old. The Irish Times and other Irish newspapers, citing a family spokesman, said he died in hospital. No cause was given. From his earliest days, Mr. O'Reilly, known as Tony, has shown awkwardness about gifts. He was a world-class rugby player as a teenager: the “red-haired pin-up of Irish rugby”, as the Guardian called him. His talent for business was equally precocious. At 26, as marketing director of the Irish Dairy Board, he created the Kerrygold brand to sell ...
EU targets Microsoft Teams bundling, saying it stifles competition
Business

EU targets Microsoft Teams bundling, saying it stifles competition

More news - Latest news The European Union (EU) accuses Microsoft of foul play after regulators accused the tech giant of unfairly bundling its popular Teams video conferencing software with its Office suite. This practice, the EU says, gives Teams an unfair advantage over competitors like Zoom and Slack. The issue centers on how Microsoft packages Teams within its Office 365 and Microsoft 365 subscriptions, which include programs like Word, Excel, and Outlook. Regulators believe this bundling essentially forces companies to adopt Teams if they want Microsoft's other widely used programs. This, they argue, harms competition by limiting customer choice. This is just the latest chapter in the EU's ongoing efforts to curb the dominance of big tech companies. Just a day earlier, the ...
Passenger restrained with duct tape during flight risks a fine
Business

Passenger restrained with duct tape during flight risks a fine

Related media - Breaking news An American Airlines passenger who kicked and spat at flight attendants and passengers and attempted to open a cabin door before being secured to a seat with duct tape has been sued by the Federal Aviation Administration for a fine of $81,950, the largest ever issued by the agency for unruly behavior. The passenger, Heather Wells, 34, of San Antonio, was traveling first class from Dallas-Fort Worth International Airport in Texas to Charlotte Douglas International Airport in Charlotte, North Carolina, on July 7, 2021, when About an hour into the flight she ordered a Jack Daniel's and became agitated and said she "wanted to get off" the plane, according to a lawsuit filed June 3 in the U.S. District Court for the Western District of Texas. Ms. Wells began ...
Biden proposes eliminating medical debt from credit reports
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Biden proposes eliminating medical debt from credit reports

More news - News 24 hours That has changed significantly in recent years, as the three national credit reporting agencies – TransUnion, Equifax and Experian – have eliminated much of that debt from credit reports. In the last two years, they stopped reporting debts less than $500 and debts less than a year in collections. According to a recent study by the Urban Institute, these changes have erased medical debt from the credit reports of millions of Americans. The percentage of Americans with unpaid healthcare bills on their credit reports dropped from 12% in August 2022 to 5% in August 2023. Americans who cleared medical debt from their credit reports during that period saw their credit scores increase by an average of 30 points, the Urban Institute study found, moving them out of...
Amazon fined nearly  million over warehouse labor quotas
Business

Amazon fined nearly $6 million over warehouse labor quotas

Related media - Breaking news An Amazon spokesperson said in a statement that the company is appealing the sanctions and denied that the company used "fixed quotas." Spokeswoman Maureen Lynch Vogel said that “individual performance is evaluated over an extended period of time, compared to the performance of the entire site team” and that workers can “review their performance whenever they wish.” . California law also prohibits quotas that interfere with employees' ability to take mandatory breaks or use the bathroom, or that prevent employers from following state health and safety laws. Experts said the law was among the first in the country to regulate algorithmically tracked inventory quotas and require employers to make quotas transparent to workers. The fines announced Tuesday...
UAW reaches agreement on pay and safety at electric vehicle battery plant
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UAW reaches agreement on pay and safety at electric vehicle battery plant

More news - Breaking news GM and Ultium released statements saying they were pleased with the deal. The union said it wants to use the Ultium Cells contract as a model to negotiate local deals at other battery plants that GM and its Detroit rivals are building. GM began production this year at a battery plant in Spring Hill, Tennessee, and has another under construction in Lansing, Michigan. Ford Motor plans two battery plants in Kentucky, one in Tennessee and one in Michigan. Stellantis, the maker of Chrysler, Jeep, Dodge and Ram vehicles, plans two battery plants in Indiana. Aside from a Ford location, these plants involve joint ventures that were brought under the umbrella of the UAW as part of national contracts the union signed with Ford and Stellantis last fall. The Ultium C...
Google CEO testifies in Ozy Media founder’s fraud trial
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Google CEO testifies in Ozy Media founder’s fraud trial

More news - Latest news At the center of the federal criminal trial is an incident in 2021 in which Mr. Watson's deputy deceived Goldman Sachs employees on a fundraising call by posing as a YouTube executive. The revelation of the call precipitated Ozy's downfall. Defense lawyers for Mr. Watson and Ozy accused his deputy, Samir Rao, of the false phone call and of misrepresenting Ozy's financial details to potential investors. Ms. Frison said in her opening statement in May that Mr. Rao was “incompetent for the role he was filling.” Mr. Rao and Suzee Han, Ozy's former chief of staff, pleaded guilty last year to fraud charges. Watson's defense continued to point the finger at Rao during cross-examination this week, pressing prosecution witnesses about Mr Watson's personal involvement...
Spicy noodles and pickled fish: Chinese restaurants move to Hong Kong
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Spicy noodles and pickled fish: Chinese restaurants move to Hong Kong

More news - News 24 hours In the Shek Tong Tsui area, where Return Home Hunan opened in May, many of the brightly colored restaurants – once mainstays of the neighborhood – had recently closed their doors. A restaurant that served cheap noodles and milk tea was gone, as was a restaurant where retirees gathered to eat dim sum and catch up on the day's news. “The restaurant business is hard work,” said Roy Tse, the owner of a local restaurant that sold lunch rice dishes once popular among office workers in Hong Kong's Taikoo Shing business district. There are fewer visitors at lunchtime these days. Those still coming order the bases. Yeung Hei, the manager of Fu Ging Aromatic Noodles, a historic local Hong Kong restaurant where a chef braises beef brisket in front of the window, sai...