WASHINGTON (AP) — America’s employers added a healthy number of jobs last month, yet slowed their hiring enough to potentially help the Federal Reserve in its fight to reduce raging inflation. The economy gained 315,000 jobs in August, a still-solid figure that pointed to an economy that remains resilient despite rising interest rates, high inflation…
Stocks gave up an early rally and closed lower Friday, marking their third losing week in a row and extending Wall Street’s late-summer slump. Major stock indexes initially climbed broadly following the government’s latest job market report, which showed employers slowed their hiring in August. The report put traders in a buying mood, stoking cautious…
TOKYO (AP) — Nissan will more aggressively push electric vehicles to take advantage of a new U.S. law that gives up to $7,500 in tax credits, the Japanese automaker said Friday. President Joe Biden signed the landmark climate change and health care bill into law last month. The tax credit can be used to defray…
Starbucks has named a longtime PepsiCo executive as its new CEO. The coffee giant said Thursday that Laxman Narasimhan will join Starbucks on Oct. 1 after relocating from London to Seattle, where Starbucks is based. He will work closely with Starbucks’ interim CEO Howard Schultz through April 1, when he will assume the CEO role…
WASHINGTON (AP) — Raging inflation has so scrambled the economy that it’s come to this: If Friday’s jobs report for August were to show a significant hiring slowdown, the Federal Reserve — and even the White House — would likely welcome it. The government is expected to report that employers added 300,000 jobs last month,…
Two biopharmaceutical companies will give $5 million and $500,000, respectively, to nonprofit organizations in the United States and abroad that are responding to the growing monkeypox outbreak. The pledges come as the early philanthropic response to the disease, which disproportionately affects LGBTQ people, has been fairly muted compared with the early days of COVID-19. Gilead…
WASHINGTON (AP) — Fewer Americans filed for unemployment benefits last week as the labor market continues to shine despite weakening elements of the U.S. economy. Applications for jobless aid for the week ending Aug. 27 fell by 5,000 to 232,000, the Labor Department reported Thursday. The four-week average for claims, which evens out some of…
BEIJING (AP) — The Chinese government on Thursday called on Washington to repeal its technology export curbs after California-based chip designer Nvidia said a new product might be delayed and some work might be moved out of China. The latest controls add to mounting U.S.-Chinese tension over technology and security. American officials say they need…
BEIJING (AP) — Asian stock markets were mixed Friday ahead of U.S. jobs data that might influence Federal Reserve plans for more interest rate hikes to cool surging inflation. Shanghai and Seoul advanced while Tokyo and Hong Kong retreated. Oil prices rose more than $1.50 per barrel. Investors looked ahead to U.S. data on August…
Microsoft’s plan to buy video game giant Activision Blizzard for $68.7 billion could have major effects on the gaming industry, transforming the Xbox maker into something like a Netflix for video games by giving it control of many more popular titles. But to get to the next level, Microsoft must first survive a barrage of…
