Business News

JetZero plans to build $4.7B plant in North Carolina, aims to create 14,500 jobs

GREENSBORO, N.C. (AP) — A California-based company plans to build its first manufacturing plant for a next-generation passenger jet in central North Carolina. If successful, the project announced Thursday by JetZero and elected officials would create more than 14,500 jobs in a decade. Gov. Josh Stein called it the largest job commitment in North Carolina history. JetZero is developing a fixed-wing aircraft that would change the shape of passenger jetliners in the sky. The company would build the plant at Piedmont Triad International Airport in Greensboro. JetZero already has conditional jet purchase agreements with some airlines. The announcement comes with lots of economic incentives that would extend into the 2060s.… Continue Reading

Wall Street’s rally stalls as US stocks dip for their 1st loss in 4 days

NEW YORK (AP) — Wall Street’s rally stalled after stocks climbed back within 2% of their all-time high. The S&P 500 slipped 0.3% Wednesday for its first drop in four days. The Dow Jones Industrial Average ended little changed, and the Nasdaq composite lost 0.5%. The action was stronger in the bond market, where Treasury yields eased after a report showed inflation ticked up by less last month than economists expected. That raised expectations for the Federal Reserve to cut interest rates later this year. Markets didn’t react much to the conclusion of two days of trade talks between the U.S. and China.… Continue Reading

US stocks drift higher as trade talks start with China in hopes of avoiding a recession

NEW YORK (AP) — U.S. stocks are drifting higher as the world’s two largest economies begin talks on trade that could help avoid a recession. The S&P 500 rose 0.3% Monday. The Dow Jones Industrial Average rose 58 points, and the Nasdaq composite gained 0.5%. Markets are waiting to hear what comes of trade talks between the United States and China taking place in London. Treasury yields eased in the bond market after a survey suggested consumers’ expectations for coming inflation eased a bit. Chinese stocks rose, while indexes were mixed amid mostly modest movements across the rest of Asia and Europe.… Continue Reading

Apple unveils software redesign while reeling from AI missteps, tech upheaval and Trump’s trade war

CUPERTINO, Calif. (AP) — After stumbling out of the starting gate in Big Tech’s pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during a developers conference that focused mostly on incremental advances and cosmetic changes in its technology. The presummer rite was more subdued than the feverish anticipation that surrounded the event in 2023 when Apple unveiled a mixed-reality headset and last year when the company hyped AI features that didn’t pan out as envisioned. Although Apple announced helpful AI tools and a redesign of its iPhone software in a decade, the company is still facing about its ability to innovate and ability to navigate a gauntlet of other challenges.… Continue Reading

Walmart’s army of bakery decorators take the cake when it comes to hourly store pay

NEW YORK (AP) — The school graduation season is the busiest time of year for the Walmart workers who hand-decorate cakes per customers’ orders. The cakes and optional fillings come pre-baked and frozen from suppliers, but the nation’s largest retailer holds a big slice of the American custom cake market. The company says one out of four cakes sold in the U.S. comes from Walmart, and that its workers will collectively decorate more than 1 million cakes during May and June. The discount retail chain’s 6,200-strong army of icing artisans are Walmart’s highest paid hourly workers, excluding store managers. Detractors on social media have accused the decorators of stealing ideas and undercutting professional cake artists with inexpensive products.… Continue Reading

Hiring in the US slows, yet employers added a solid 139,000 jobs in May

WASHINGTON (AP) — U.S. employers slowed hiring last month, but still added a solid 139,000 jobs amid uncertainty over Trump’s trade wars. The Department of Labor said Friday that hiring fell from a revised 147,000 in April. The unemployment rate stayed at 4.2%. Trump’s aggressive and unpredictable policies – especially his sweeping taxes on imports – have muddied the outlook for the economy and the job market and raised fears that the American economy could be headed toward recession. But so far the damage hasn’t shown up clearly in government economic data.… Continue Reading

US job openings rose in April, signaling resilience in the American labor market

WASHINGTON (AP) — U.S. job openings rose unexpectedly in April, showing that the labor market remains resilient in the face of uncertainty arising from President Donald Trump’s trade wars. The Labor Department reported Tuesday that employers posted 7.4 million job vacancies in April, up from 7.2 million in March. Economists had expected opening to drift down to 7.1 million. But the number of Americans quitting their job — a sign of confidence in their prospects — fell, and layoffs ticked higher. Openings remain high by historical standards but have dropped sharply since peaking at 12.1 million in March 2022 when the economy was still roaring back COVID-19 lockdowns.… Continue Reading

A global rally for stocks loses steam amid questions about what will happen to Trump’s tariffs

NEW YORK (AP) — A big rally for stocks that began in Asia lost steam amid uncertainty about what will happen next after a U.S. court blocked many of President Donald Trump’s tariffs. The S&P 500 rose 0.4% Thursday after giving up most of an earlier gain. The Dow Jones Industrial Average rose 0.3%, and the Nasdaq composite added 0.4%. It’s a downshift after stocks initially leaped in Tokyo and Seoul, where markets had the first chance to react to Wednesday’s ruling by the U.S. Court of International Trade. The White House said it would appeal. Nvidia rallied after its profit report.… Continue Reading

S&P 500 rallies 2% as Wall Street’s roller-coaster ride whips back upward after Trump delays tariffs

NEW YORK (AP) — Wall Street rallied after President Donald Trump delayed a 50% tariff on goods coming from the European Union. The S&P 500 jumped 2% Tuesday. Its gains accelerated following a better-than-expected report on U.S. consumer confidence. The Dow Jones Industrial Average jumped 740 points, and the Nasdaq composite climbed 2.5%. They more than recovered their losses from Friday, when Wall Street’s roller-coaster ride dropped after Trump announced the tariffs on the European Union. Nvidia was the strongest single force pushing the S&P 500 higher. Treasury yields eased in the bond market.… Continue Reading

US consumer confidence rebounds after five straight months of declines amid tariff anxiety

WASHINGTON (AP) — Americans’ views of the economy improved in May after five straight months of declines sent consumer confidence to the lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump’s tariffs. The Conference Board said Tuesday that its consumer confidence index rose 12.3 points in May to 98, up from April’s 85.7, its lowest reading since May 2020. A measure of Americans’ short-term expectations for their income, business conditions and the job market jumped 17.4 points to 72.8, but remained below 80, which can signal a recession ahead.… Continue Reading

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