Oct 11 WATCH: Biden says the proposed FTC ban on junk fees will help families and ‘honest’ businesses By Josh Boak, Associated Press President Joe Biden on Wednesday announced a proposed rule by the Federal Trade Commission to ban any hidden and bogus junk fees, which can mask the total cost of concert tickets, hotel rooms and utility bills. Continue reading
Oct 11 Exxon Mobil to buy Pioneer Natural for $59.5 billion, doubling down on fossil fuels as energy prices surge By Michelle Chapman, Associated Press Including debt, Exxon is committing about $64.5 billion to the acquisition announced Wednesday, leaving no doubt of the Texas energy company's commitment to fossil fuels as energy prices surge. Continue reading
Oct 10 IMF downgrades global economic growth outlook, cites Mideast war as new risk By Paul Wiseman, David McHugh, Associated Press A series of previous shocks, including the pandemic and Russia’s war in Ukraine, has slashed worldwide economic output by about $3.7 trillion over the past three years compared with pre-COVID trends. Continue reading
Oct 09 UK Labour Party says it will focus on economic growth, not higher taxes By Jill Lawless, Associated Press Britain's main opposition Labour Party says it will focus on economic growth rather than higher taxes to "rebuild" the country after more than a decade of Conservative rule. Continue reading
Oct 09 2 Federal Reserve officials say spike in bond yields may allow central bank to leave rates alone By Christopher Rugaber, Associated Press That's because a surge in long-term interest rates has made borrowing more expensive and could help cool inflation without further action by the central bank. Continue reading
Oct 09 Union workers at Mack Trucks go on strike after voting to reject new contract deal By Tom Krisher, Associated Press Union workers at Mack Trucks are on strike after voting down a tentative five-year contract agreement that negotiators had reached with the company. Continue reading
Oct 08 WATCH: Nobel economics prize goes to professor for research on labor market gender gap By David Keyton, Michael Casey, Mike Corder, Associated Press Goldin has studied 200 years of women’s participation in the workplace, showing that despite continued economic growth, women’s pay did not continuously catch up to men’s and a divide still exists despite women gaining higher levels of education than men. Continue reading
Oct 08 Gov. Newsom signs new law requiring big companies in California to disclose emissions By Sophie Austin, Associated Press/Report for America Large businesses in California will have to disclose a wide range of planet-warming emissions under a new law Gov. Gavin Newsom signed Saturday — the most sweeping mandate of its kind in the nation. Continue reading
Oct 06 Watch 5:43 Job growth defies expectations but questions remain about overall health of economy By Paul Solman, Shoshana Dubnow The strength of the jobs market stunned again with a report surpassing most expectations. Employers added 336,000 jobs in September while unemployment remained at 3.8 percent. We also learned that nearly 120,000 more jobs were created in July and August… Continue watching
Oct 06 Auto workers won’t expand strikes against Detroit Three after GM battery plant concession By Tom Krisher, Associated Press The announcement of the pause in expanding the strikes came shortly after GM agreed to bring electric vehicle battery plants into the UAW's national contract, essentially assuring that they will be unionized. Continue reading