US labor market powers ahead with strong job gains despite recession fears

US labor market powers ahead with strong job gains despite recession fears

Nonfarm payrolls increase 372,000 in June Private sector employment back above pre-pandemic level Unemployment rate holds steady at 3.6% Average hourly earnings rise 0.3%; up 5.1% year-on-year WASHINGTON, July 8 (Reuters) – US employers hired far more workers than expected in June and continued to raise wages at a steady clip, signs of persistent labor … Read more

US labor market starts to cool as weekly jobless claims rise, layoffs surge

US labor market starts to cool as weekly jobless claims rise, layoffs surge

Weekly jobless claims increase 4,000 to 235,000 Continuing advance claims 51,000 to 1.375 million Announced job cuts jump 57% to 32,517 in June Trade deficit narrows 1.3% to $85.5 billion in May WASHINGTON, July 7 (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly rose last week and there are growing … Read more

US West Coast port labor contract expires, raising stakes for talks

US West Coast port labor contract expires, raising stakes for talks

LOS ANGELES, July 1 (Reuters) – The union and employers negotiating a new labor contract for more than 22,000 US West Coast port workers said high-stakes talks that are being closely watched by industry and the White House would continue after the agreement expired late on Friday. The agreement covers 29 Pacific Coast ports stretching … Read more

US Supreme Court again nixes Bayer challenge to weedkiller suits

US Supreme Court again nixes Bayer challenge to weedkiller suits

WASHINGTON, June 27 (Reuters) – The US Supreme Court on Monday rejected another Bayer AG (BAYGn.DE) bid to dismiss litigation alleging that its Roundup weedkiller causes cancer as the German pharmaceutical and chemical giant tries to avoid potentially billions of dollars in damages . The justices turned away a Bayer appeal and left in place … Read more

Large US law firms mostly quiet on abortion ruling, are walking a ‘tightrope’

Large US law firms mostly quiet on abortion ruling, are walking a 'tightrope'

June 26 (Reuters) – The largest US law firms did not take a public stance following the US Supreme Court’s reversal of Roe v. Wade on Friday, diverging from the approach of some major companies that have made statements on the closely watched abortion case. The high court’s 6-3 Dobbs decision upheld a Republican-backed Mississippi … Read more

Factbox: The SEC’s response to the ‘same stock’ rally

Factbox: The SEC's response to the 'same stock' rally

June 24 (Reuters) – A year-and-a-half after a “meme stock” rally roiled Wall Street, the US Securities and Exchange Commission is considering broad changes to curb the frenetic trading of stocks based on social media activity. The proposed overhaul would be the biggest change to Wall Street’s rules since 2005 and would affect nearly every … Read more

US tech industry frets about handing data to states prosecuting abortion

US tech industry frets about handing data to states prosecuting abortion

PALO ALTO, Calif., June 24 (Reuters) – The technology industry is bracing for the uncomfortable possibility of having to hand over pregnancy-related data to law enforcement, in the wake of the US Supreme Court’s decision on Friday to overturn the Roe v . Wade precedent that for decades guaranteed a woman’s constitutional right to an … Read more

US new home sales rebound in May; consumer sentiment at record low

US new home sales rebound in May;  consumer sentiment at record low

Carpenters work on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, US, May 5, 2021. REUTERS/Octavio Jones/File Photo Register now for FREE unlimited access to Reuters.com Register New home sales rebounded 10.7% in May; April data revised up Median house price jumps 15.0% to … Read more

Disney, other US companies offer abortion travel benefit after Roe decision

Disney, other US companies offer abortion travel benefit after Roe decision

NEW YORK, June 24 (Reuters) – US companies including Walt Disney Co (DIS.N) and Facebook parent Meta Platforms Inc (META.O) said on Friday they will cover employees’ expenses if they have to travel for abortion services after the US Supreme Court overturned Roe v Wade. The US Supreme Court on Friday overturned the landmark 1973 … Read more

Biden administration leans on Tesla for guidance in renewable fuel policy reform

Biden administration leans on Tesla for guidance in renewable fuel policy reform

June 23 (Reuters) – US President Joe Biden rarely mentions electric car maker Tesla Inc (TSLA.O) in public. But privately his administration has leaned on the company to help craft a new policy to allow electric vehicles (EVs) to benefit from the nation’s lucrative renewable fuel subsidies, according to emails reviewed by Reuters. The Biden … Read more