Delta Air Lines has settled allegations by a pilot who said the airline ordered her to undergo a psychiatric examination and barred her from flying in retaliation for raising safety concerns to company executives. The settlement approved Friday ends a long-running dispute in which a federal arbiter agreed with many of the pilot’s claims and…
(Reuters) – The Teamsters union, representing more than 18,000 workers, said it had ratified on Friday a national contract with Costco Wholesale Corp. The first-ever national agreement provides members with significant wage improvements over the next three years and a substantial increase in pension contributions by Costco, the International Brotherhood of Teamsters said in a…
PROVIDENCE, R.I. (AP) — The plastics industry says there is a way to help solve the crisis of plastic waste plaguing the planet’s oceans, beaches and lands— recycle it, chemically. Chemical recycling typically uses heat or chemical solvents to break down plastics into liquid and gas to produce an oil-like mixture or basic chemicals. Industry…
By David Lawder WASHINGTON (Reuters) -The U.S. government on Friday reported that its fiscal 2022 budget deficit plunged by half from a year earlier to $1.375 trillion, due to fading COVID-19 relief spending and record revenues fueled by a hot economy, but student loan forgiveness costs limited the reduction. The U.S. Treasury said the $1.400…
By Stephen Culp NEW YORK (Reuters) – Wall Street closed sharply higher and benchmark Treasury yields hit pause on Friday following signals that the Federal Reserve might consider less aggressive inflation-curbing tactics after November. All three major U.S. stock surged more than 2%, and notched their biggest Friday-to-Friday percentage gains since June, closing the book…
Americans will be allowed to contribute more of their money to 401(k) and similar retirement saving plans next year. The IRS said Friday that the maximum contribution that an individual can make in 2023 to a 401(k), 403(b) and most 457 plans will be $22,500. That’s up from $20,500 this year. People aged 50 and…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks jumped on Friday after a report said the U.S. Federal Reserve will likely debate on a smaller interest rate hike in December, raising hopes the central bank may be ready to adopt a less aggressive policy stance. Some Fed officials have begun sounding out their desire…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar tumbled against the yen on Friday, logging its biggest daily drop against the Japanese currency in more than two months as traders and strategists said Japanese authorities may be in the market to stem a slide in their battered currency. The yen rose as high…
By Rajesh Kumar Singh CHICAGO (Reuters) – U.S. carriers including Delta Air Lines and United Airlines are betting big on American consumers’ unquenched thirst for travel across the Atlantic by adding more flights to Europe. U.S. airlines are responding to consumers emboldened by a more powerful U.S. dollar and more flexible work arrangements that allow…
(Reuters) – The White House is in talks with billionaire Elon Musk about setting up SpaceX’s satellite internet service Starlink in Iran, CNN reported on Friday, citing officials familiar with the matter. The satellite-based broadband service could help Iranians circumvent the regime’s restrictions on accessing the internet and certain social media platforms. The Islamic Republic…
