Business - Page 26

Michael Strahan to Fly to Space with Blue Origin Crew

By Jackie Wattles, Jeff Bezos’ rocket company, Blue Origin, announced that it would be launching Good Morning America host Michael Strahan to the edge of space. Strahan will be joined by the daughter of the first American astronaut and four paying customers. Liftoff is slated for 9:30 am CT on December 9 from Blue Origin launch facilities near the rural town of Van Horn, Texas. Strahan and Laura Shepard Churchley, whose father Alan Shepard went on a suborbital flight in 1961 and later walked on the moon, will be joined by investors Dylan Taylor, Evan Dick, and Lane Bess, as well as Bess’

1619 Project Faces Bans as Books Aim to Reframe U.S. History

By Ramishah Maruf, What began as a Pulitzer Prize-winning New York Times Magazine cover story, the 1619 Project has now produced two books: one for adults, “A New Origin Story” and a children’s book, “Born on the Water.” But even though the 1619 Project books were just released earlier this week, states such as Texas and Florida have already banned the teaching of the subject matter. Republican lawmakers in at least five states introduced bills that would prohibit the 1619 Project from being taught in schools or cut funding to those that use the project to inform curricula. The ban is linked to

CPJ Honors Global Journalists Fighting for Press Freedom

By Brian Stelter, In the words of Committee to Protect Journalists executive director Joel Simon, “To practice journalism in the face of grave danger requires a profound sense of optimism and a sincere faith in humanity.” Those qualities were on display Thursday night at the group’s International Press Freedom Awards ceremony in New York. Journalists from Guatemala, Mozambique, Myanmar, and other countries were recognized for their courageous work. The honorees did not travel to the US, owing to Covid-era concerns and uncertainty, but the fund-raising gala was back in-person, supplemented by an online streaming option. You should read all about the CPJ

Thanksgiving Dinner Costs Up 14% in 2021, Farm Bureau Says

By Vanessa Yurkevich, Thanksgiving dinner will cost 14% more this year, according to new survey by the American Farm Bureau Federation. Dinner for a family of 10 will cost on average $53.31 — up $6.41 from last year’s average of $46.90 which was down 4% from 2019, the lowest in 10 years. Several factors led to this year’s increased pricing, including more Americans expected to cook at home as well as economic disruptions. “These include dramatic disruptions to the US economy and supply chains over the last 20 months; inflationary pressure throughout the economy; difficulty in predicting demand during the COVID-19 pandemic and high

Record 4.4M Americans Quit Jobs in September Labor Shift

By Anneken Tappe, A record 4.4 million Americans quit their jobs in September as the sheer volume of available jobs is empowering workers to have their pick. Workers are quitting in search for better pay or better jobs, representing a fundamental shift in America’s labor market. “Labor now has the initiative, and the era of paying individuals less than a livable wage has ended,” said Joseph Brusuelas, chief economist at RSM US. “This strongly suggests that rising wages are going to be part and parcel of the economic landscape going forward.” The nation had 10.4 million open jobs that month as the worker

Inflation Surges, Musk Sells Stock, Rivian Tops Ford Value

By Julia Horowitz, Prices for American consumers are rising at the fastest rate in three decades, setting the stage for a standoff between the White House and the Federal Reserve as concerns grow about the political ramifications of inflation. What’s happening: Investors, economists and policymakers were rattled Wednesday by the news that annual consumer price inflation hit 6.2% in October, the biggest increase since November 1990. “Holy cow,” CNBC anchor Rick Santelli told viewers when the data dropped. For months, the Biden administration and the Fed have pushed the public to look through “transitory” inflation as a result of the Covid-19

US Jobs Rebound, Oil Tensions Rise, Vaccine Stocks Shift

By Julia Horowitz, America’s job market is showing signs of strength — welcome news after a choppy summer. What’s happening: The US economy added 531,000 jobs in October, according to government data released Friday. That’s stronger than in August and September, though gains for both months have been revised higher. Still, economists are increasingly starting to wonder: As shortfalls of workers persist, has the labor market changed for good? If the answer is yes, the ramifications for policymakers could be huge. Breaking it down: Businesses are still struggling to attract and retain enough staff to keep up with an explosion of demand.

Build Back Better Bill Aims to Boost Local News Jobs

By Brian Stelter, The House version of the Build Back Better Act contains a provision that news media advocates have sought for years. It’s a payroll tax credit that supports local news organizations for employing journalists. The Joint Committee on Taxation pegs it at $1.67 billion over 10 years. The provision “would provide a credit up to $25,000 to defray employment taxes in the first year, and $15,000 in the next four years, for each employee,” Deadline’s Ted Johnson reported Thursday. “That would cover 50% of compensation up to $50,000 in the first year and 30% in the next four years.” Thus, it

U.S. Adds 531K Jobs in October, Unemployment Falls to 4.6%

By Anneken Tappe America’s jobs recovery gathered some steam last month as US employers added 531,000 positions in October. The unemployment rate fell to 4.6%, the lowest level since the economic recovery started in May 2020. The number of jobs added in October easily outpaced economists’ prediction of 450,000 jobs. It marked the first month since July that the official number didn’t undercut the consensus estimate. The US economy gained jobs across the board last month, with leisure and hospitality, manufacturing and transportation and warehousing leading the job gains. The leisure and hospitality sector was hit hardest during the pandemic recession and

Moderna Stock Falls 18% on Lower Vaccine Revenue Forecast

By Chris Isidore, Moderna fell short of profit and sales expectations for the third quarter, and the Covid vaccine maker warned that its full year shipments of the vaccine will not meet its forecasts. Shares of Moderna plunged nearly 20% at their low point of the day Thursday and closed down 18% for the day. The share price had more than tripled so far this year before Thursday’s plunge. The company earned $3.3 billion, on revenue of $5 billion in the quarter. But analysts surveyed by Refinitiv had forecast that income would reach $3.9 billion on revenue of $6.2 billion.

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