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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 [...]
Musk loses crown as world’s richest to software giant Larry Ellison in new Bloomberg ranking
FRANKFURT, Germany (AP) — Danish pharmaceutical company Novo Nordisk, maker of weight-loss drug Wegovy, said Wednesday it would cut 9,000 jobs, 5,000 of them in Denmark, in order to strengthen the company’s focus on growth opportunities in obesity and diabetes medications. The restructuring, which would eliminate 11% of [...]
Novo Nordisk, maker of obesity drug Wegovy, to cut 9,000 jobs to sharpen focus, meet competition
FRANKFURT, Germany (AP) — Danish pharmaceutical company Novo Nordisk, maker of weight-loss drug Wegovy, said Wednesday it would cut 9,000 jobs, 5,000 of them in Denmark, in order to strengthen the company’s focus on growth opportunities in obesity and diabetes medications. The restructuring, which would eliminate 11% of [...]
Senate committee approves Trump’s Fed Board nominee, raising concerns about its independence
A Senate panel approved Trump nominee Stephen Miran for the Fed board in a partisan 13-11 vote, setting up a likely full Senate confirmation.
South Korean plane in Atlanta for workers detained in immigration raid; departure timeline uncertain
SEOUL, South Korea (AP) — A South Korean charter plane arrived in Atlanta on Wednesday to take home Korean workers detained in an immigration raid in Georgia last week, but even after a high-level meeting between U.S. and South Korean officials there was no immediate word on when the workers would be able to leave. A total[...]
US household income rose slightly last year, roughly matching 2019 level
Census data shows median U.S. household income stalled in 2024, with inflation offsetting wage gains and widening the income gap.
New data shows the US job market was much weaker than thought in 2024, and this year as well
WASHINGTON (AP) — The U.S. job market was much weaker in 2024 and early this year than originally reported, adding to concerns about the health of the nation’s economy. Employers added 911,000 fewer jobs than originally reported from April 2024 through March, the Labor Department reported Tuesday. The department issues [...]
Chief justice lets Trump remove member of Federal Trade Commission for now
WASHINGTON (AP) — Chief Justice John Roberts on Monday let President Donald Trump remove a member of the Federal Trade Commission, the latest in a string of high-profile firings allowed for now by Supreme Court. Trump first moved to fire Rebecca Slaughter in the spring, but she sued and lower courts ordered her reinstated b[...]
South Koreans feel betrayed by workforce detentions at Georgia Hyundai plant
SEOUL, South Korea (AP) — South Korea’s foreign minister departed for the U.S. on Monday to finalize steps for the return of several hundred South Korean workers detained in a massive immigration raid in Georgia, a spectacle that has caused confusion, shock and a sense of betrayal among many in the U.S.-allied nation. [...]
PNC to buy FirstBank for $4.1B, expanding to Arizona, Colorado
NEW YORK (AP) — PNC Financial said Monday that it plans to buy Colorado-based FirstBank for $4.1 billion, giving PNC a substantial presence in the Colorado banking market as well as Arizona. Based in Lakewood, Colorado., FirstBank, which is also branded as 1stBank, is a midsized bank that operates 120 retail branches with $26.[...]
SpaceX, EchoStar strike $17B spectrum deal for Starlink
SpaceX reached a $17B deal with EchoStar for spectrum licenses to expand Starlink, with cash, stock, and debt payments included.
Google hit with $3.5 billion fine from European Union in ad-tech antitrust case
EU slaps Google with $3.5B ad services fine; company calls ruling unfair.
