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Fed: Inflation, Ukraine biggest threats to financial system

May 9th, 2022
Fed: Inflation, Ukraine biggest threats to financial system

The Federal Reserve no longer views the coronavirus pandemic as the biggest threat to the global financial systemBy KEN SWEET AP Business WriterMay 9, 2022, 8:58 PM• 3 min readNEW YORK — The Federal Reserve said Monday that Russia’s war in Ukraine and surging inflation are now the greatest threats facing the global financial system, supplanting the coronavirus pandemic.The observations came in the Fed’s semiannual Financial Stability Report that looks at trends in trading and investing as well as broad economic issues. The report is not an economic forecast, and does not try to... Read More

Less immigrant labor in US contributing to price hikes

May 7th, 2022
Less immigrant labor in US contributing to price hikes

The U.S. is experiencing a labor shortage that’s partly fueled by a drop-off in immigration, which ground to a halt during the coronavirus pandemicBy NICHOLAS RICCARDI Associated PressMay 7, 2022, 5:02 PM• 6 min readJust 10 miles from the Rio Grande, Mike Helle’s farm is so short of immigrant workers that he’s replaced 450 acres of labor-intensive leafy greens with crops that can be harvested by machinery.In Houston, Al Flores increased the price of his BBQ restaurant’s brisket plate because the cost of the cut doubled due to meatpacking plants’ inability to fully staff immigrant-heavy... Read More

California will keep workplace pandemic rules through 2022

April 21st, 2022
California will keep workplace pandemic rules through 2022

California workplace regulators have extended mandatory pay for workers affected by the coronavirus through the end of 2022By DON THOMPSON Associated PressApril 21, 2022, 11:16 PM• 6 min readSACRAMENTO, Calif. — California workplace regulators on Thursday extended mandatory pay for workers affected by the coronavirus through the end of 2022, acting more than two months after state lawmakers restored similar benefits through September.The decision again pitted management against labor as the Occupational Safety and Health Standards Board renewed revised workplace safety rules that would... Read More

IMF, World Bank chiefs warn of debt squeeze in poor nations

April 20th, 2022
IMF, World Bank chiefs warn of debt squeeze in poor nations

The heads of the International Monetary Fund and the World Bank are warning that rising interest rates are squeezing the world’s poorest countries as they struggle with the coronavirus and soaring food pricesBy PAUL WISEMAN AP Economics WriterApril 21, 2022, 1:04 AM• 3 min readWASHINGTON — The heads of the International Monetary Fund and the World Bank warned Wednesday that rising interest rates are squeezing the world’s poorest countries as they struggle with the coronavirus and soaring food prices.There is “a huge buildup of debt, especially in the poorest countries,”... Read More

Asian stocks mixed as investors await US profits, inflation

April 12th, 2022
Asian stocks mixed as investors await US profits, inflation

Global stock markets are lower as investors wait for U.S. inflation data amid unease about higher interest rates, Chinese efforts to contain coronavirus outbreaks and Russia’s war on UkraineBy JOE McDONALD AP Business WritersApril 12, 2022, 10:15 AM• 3 min readBEIJING — Global stocks and Wall Street futures sank Tuesday as investors waited for U.S. inflation data amid unease about higher interest rates, Chinese efforts to contain coronavirus outbreaks and Russia’s war on Ukraine.London, Frankfurt, Tokyo and Seoul fell. Shanghai and Hong Kong advanced. Oil prices rose more than $3... Read More

Asian stocks fall as investors await U.S. profits, inflation

April 11th, 2022
Asian stocks fall as investors await U.S. profits, inflation

Asian stock markets are lower as investors wait for U.S. inflation data amid unease about higher interest rates, Chinese efforts to contain coronavirus outbreaks and Russia’s war on UkraineBy JOE McDONALD AP Business WritersApril 12, 2022, 5:37 AM• 3 min readBEIJING — Asian stock markets fell again Tuesday as investors waited for U.S. inflation data amid unease about higher interest rates, Chinese efforts to contain coronavirus outbreaks and Russia’s war on Ukraine.Shanghai, Tokyo, Hong Kong and Seoul fell. Oil prices rose more than $2 per barrel.Wall Street’s benchmark S&P... Read More

Atlantic City 2021 casino earns surpass pre-pandemic levels

April 8th, 2022
Atlantic City 2021 casino earns surpass pre-pandemic levels

Atlantic City’s casino earnings have surpassed where they were before the coronavirus pandemic broke outBy WAYNE PARRY Associated PressApril 8, 2022, 9:08 PM• 3 min readATLANTIC CITY, N.J. — Atlantic City’s casino earnings have surpassed where they were before the coronavirus pandemic broke out, but most of the improvement is due to the two newest casinos.Figures released Friday by the New Jersey Division of Gaming Enforcement show eight of the nine casinos posted a gross operating profit last year.Collectively, the nine casinos earned $766.8 million in 2021, far eclipsing the $117.5... Read More

US jobless claims rise by 4,000 to 353,000

August 26th, 2021
US jobless claims rise by 4,000 to 353,000

The number of Americans applying for unemployment benefits rose for the first time in five weeks even though the economy and job market have been recovering briskly from the coronavirus pandemicBy PAUL WISEMAN AP Economics WriterAugust 26, 2021, 12:53 PM• 3 min readWASHINGTON — The number of Americans applying for unemployment benefits rose for the first time in five weeks even though the economy and job market have been recovering briskly from the coronavirus pandemic.Jobless claims edged up by 4,000 to 353,000 from 349,000 a week earlier, the Labor Department reported Thursday. The four-week... Read More

The Latest: Australian state sets another high for cases

August 24th, 2021
The Latest: Australian state sets another high for cases

South Korea has reported 2,155 new coronavirus cases, nearly matching a record daily increase set earlier this month amid an alarming spread of infectionsBy The Associated PressAugust 25, 2021, 3:10 AM• 11 min readSEOUL, South Korea — South Korea has reported 2,155 new coronavirus cases, nearly matching a record daily increase set earlier this month amid an alarming spread of infections.With Wednesday’s report, the country has tallied more than 1,000 new cases for 50 consecutive days, including a record 2,221 on Aug. 11.The virus has shown no signs of slowing despite officials enforcing... Read More

Supreme Court blocks part of NY eviction moratorium

August 12th, 2021
Supreme Court blocks part of NY eviction moratorium

The Supreme Court is blocking part of New York’s moratorium on evictions, put into effect because of the coronavirus pandemic, less than a month before it is supposed to expire anywayByThe Associated PressAugust 13, 2021, 2:37 AM• 2 min readWASHINGTON — The Supreme Court on Thursday blocked part of New York’s moratorium on evictions, put into effect because of the coronavirus pandemic, less than a month before it was supposed to expire anyway.The legal issue is distinct from those surrounding a new moratorium that applies in most of the country that the Centers for Disease Control... Read More