Economy
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Rasner Media parts with Amazon, Bezos in bid to purchase TikTok: 'You're fired'
The separation comes after reports earlier in the day indicated that Amazon intended to show website shoppers the additional costs of Trump's tariffs on merchandise. The online retailer has denied the reports.
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U.S. consumer confidence plummets to COVID-era level, amid the trade war
The recent news followed Trump's imposition of a 10% tariff on nearly all imports. He later announced a 90-day pause on tariffs on dozens of countries, but also increased the tariff on China to 125%.
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UPS to cut 20,000 jobs, close 73 buildings amid less Amazon deliveries
"These actions will enable us to expand our U.S. Domestic operating margin and increase profitability," said UPS Chief Financial Officer Brian Dykes.
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Boeing to cut 17,000 jobs over the coming months, reducing workforce by 10%
The workforce reduction is expected to equal a loss of 17,000 jobs, based on the company's workforce numbers last December. Other changes include delaying the 777X program until 2026, and ending the 767 freighter program in 2027.
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Jobless claims highest since August 2023, new data shows
Filings for unemployment benefits went up to 258,000 for the week ending Oct. 5, which represents the most claims since Aug. 5, 2023, the Bureau of Labor Statistics reported.
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New rule could cost small businesses $73.1B over 10 years
NFIB is seeking to stop the reporting requirements in the Corporate Transparency Act from implementation on Jan. 1.
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Trump campaign knocks Harris economy as unemployment remains above 4%
In August of this year, the federal government revised its jobs growth numbers, slashing more than 800,000 jobs from its figures from April 2023 to March 2024.
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You Vote: How concerned are you about the port strike?
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Former RNC political director creates tool for voters to see cost of living changes over the years
"Survey after survey after survey shows that swing voters in swing states care about household affordability," Gentry Collins said.
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Biden infrastructure law gave billions to upgrade ports, now striking unions want to stop automation
The discrepancy between the priorities of Biden’s infrastructure spending and his support for the labor union leading the strikes raises concerns about the benefits of pouring money into infrastructure while real upgrades are being blocked by union allies.
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US economy added 254,000 jobs in September, Labor Department
The Dow Jones consensus forecast for additional non-farm jobs was 150,000, CNBC reports.
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CVS to lay off almost 3,000 employees in effort to reduce costs
"The reductions will not impact front-line jobs in our stores, pharmacies and distribution centers," CVS told CBS.
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Biden to stay out of port strike as trade flows halt, union boss threatens to ‘cripple’ economy
Breaking up the strike with his presidential authority could damage Kamala Harris’ chances with a key union worker constituency, but an economic chaos may damage her cause, too.