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OpenAI reaches new agreement with Microsoft to change its corporate structure
OpenAI announced a new deal with Microsoft and plans to give its nonprofit controller a $100B equity stake in its for-profit arm.
Boeing workers reject their latest contract offer, extending strike at three Midwest plants
Boeing workers rejected a second contract offer, extending a six-week strike at three Midwest plants. No new talks are scheduled.
Wall Street coasts toward the finish of its best week in the last 5
NEW YORK (AP) — Wall Street is coasting toward the finish of its best week in the last five on Friday as U.S. stocks hang near their record levels. The S&P 500 was mostly unchanged from the all-time high it set the day before. The Dow Jones Industrial Average was down 204 points, or 0.4%, as […]
Ex-Mars executive pleads guilty to $28M fraud scheme
BRIDGEPORT, Conn. (AP) — A former executive for a subsidiary of candymaker Mars Inc. pleaded guilty Thursday to fraud and tax charges in connection with his theft of $28 million from the company, federal prosecutors said. Paul Steed, 58, appeared in federal court in Bridgeport, Connecticut. He also agreed to pay $28.4 million in restitution to Mars […]
Average rate on a 30-year mortgage falls to lowest level in nearly a year
The average rate on a 30-year U.S. mortgage fell this week to its lowest level in nearly a year, reflecting a pullback in Treasury yields ahead of an expected interest rate cut from the Federal Reserve next week. The long-term rate eased to 6.35% from 6.5% last week, mortgage buyer Freddie Mac said Thursday. A year ago, […]
The number of Americans filing for jobless benefits last week hits 263,000, most in nearly 4 years
WASHINGTON (AP) — U.S. jobless claim applications jumped to their highest level in almost four years last week, the latest sign that the labor market is softening. The number of Americans filing for unemployment benefits for the week ending Sept. 6 rose 27,000 to 263,000, the Labor Department reported Thursday. That’s the most filings since […]
Korean workers detained in immigration raid bound for Atlanta and flight back home
ATLANTA (AP) — More than 300 South Korean workers detained in an immigration raid at a Georgia battery plant last week headed to Atlanta on Thursday and a flight home. South Korea’s Foreign Ministry confirmed they were due arrive in South Korea late Friday afternoon. The developments came the same day South Korean President Lee Jae Myung called for […]
US inflation worsened last month as the cost of gas, food and airfares jumped
WASHINGTON (AP) — Inflation rose last month as the price of gas, groceries, hotel rooms and airfares rose, along with the cost of clothes and used cars. Consumer prices increased 2.9% in August from a year earlier, the Labor Department said Tuesday, up from 2.7% the previous month and the biggest increase since January. Excluding […]
Klarna IPO surges 30% in NYSE debut, raises $1.37 billion
Klarna’s IPO raised $1.37B as shares jumped 30% in their NYSE debut, marking the year’s biggest listing and boosting co-founders to billionaire status.
Trump administration appeals ruling blocking him from firing Federal Reserve Gov. Cook
WASHINGTON (AP) — President Donald Trump‘s administration on Wednesday appealed a ruling blocking him from firing Federal Reserve Gov. Lisa Cook as he seeks more control over the traditionally independent board. The notice of appeal came hours after U.S. District Judge Jia Cobb handed down the ruling. The White House has insisted Trump, a Republican, has the right […]
