Apr 17 Tesla wants shareholders to reinstate $56 billion Musk pay package tossed by a Delaware judge By Tom Krisher, Michelle Chapman, Associated Press In January, Chancellor Kathaleen St. Jude McCormick ruled that Musk is not entitled to a landmark compensation package awarded by Tesla's board of directors that is potentially worth more than $56 billion. Continue reading
Apr 17 U.S. court rejects a request by tribes to block $10 billion energy transmission project in Arizona By Susan Montoya Bryan, Associated Press Critics had accused the U.S. Interior Department and Bureau of Land Management of failing to recognize the cultural significance of the San Pedro Valley to several Native American tribes. Continue reading
Apr 16 IMF says outlook for world economy is brighter but still modest by historical standards By Paul Wiseman, Associated Press The International Monetary Fund has upgraded its outlook for the global economy, saying the world appears headed for a "soft landing" — reining in inflation without much economic pain and producing steady if modest growth. Continue reading
Apr 16 House panel says China subsidizes fentanyl production to fuel crisis in the U.S. By Kevin Freking, Associated Press A report released Tuesday by a House select committee says China is directly subsidizing the manufacturing of materials used by drug traffickers to make fentanyl outside the country. Continue reading
Apr 16 Elevated inflation will likely delay interest rate cuts this year, warns Federal Reserve Chair Powell By Christopher Rugaber, Associated Press "Recent data have clearly not given us greater confidence" that inflation is coming fully under control and "instead indicate that it's likely to take longer than expected to achieve that confidence," Powell said during a panel discussion. Continue reading
Apr 16 Yellen warns of more sanctions in response to Iran’s increasing activity By Fatima Hussein, Associated Press “Treasury will not hesitate to work with our allies to use our sanctions authority to continue disrupting the Iranian regime’s malign and destabilizing activity,” she said. “I fully expect we will take additional sanctions actions against Iran in the coming… Continue reading
Apr 15 Tesla reportedly to lay off a tenth of its workforce after dismal first-quarter sales By Associated Press The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year. Shares of Tesla fell nearly 3% in Monday morning trading after the news broke. Continue reading
Apr 14 Watch 5:45 Extreme drought plunges millions in southern Africa into hunger crisis By Ali Rogin, Andrew Corkery, Satvi Sunkara A devastating drought induced by El Nino has scorched crops and left millions hungry in southern Africa. As aid groups face budget cuts and broaden their operations to other conflicts, the region’s crisis is expected to worsen. Ali Rogin speaks… Continue watching
Apr 12 How migrant workers have contributed to strong U.S. job growth By Paul Wiseman, Gisela Salomon, Associated Press It turns out that the influx of foreign-born adults vastly raised the supply of available workers at a time when a labor shortage had left many companies unable to fill jobs. Over the past year, in fact, immigrants have accounted… Continue reading
Apr 12 Oil and gas companies must pay more to drill on public lands under new Biden administration rule By Matthew Daly, Associated Press The Interior Department rule finalized Friday raises royalty rates for oil drilling by more than one-third, to 16.67 percent, in accordance with the sweeping 2002 climate law approved by Congress. Continue reading