All Economy
In charts: How women’s employment hit a record highThe percentage of working women in the United States hit a record high in 2023 – defying expectations of a slow post-pandemic recovery.
‘Soft landing’ for economy? Federal Reserve pivots on interest rates.The Federal Reserve kept its key interest rate unchanged for a third straight time. Stock prices soared and bond yields sank after the Fed’s policymakers signaled that they envision three interest rate cuts in 2024.
First LookWhy the Biden administration may stop the latest airline mergerAlaska Airlines has proposed to buy Hawaiian Airlines for $1 billion. The deal raises questions about antitrust regulations and whether there has been too much consolidation in the airline industry. The Biden administration is challenging another merger.
First LookSports Illustrated is latest media to feel the pull and sting of AIFuturism reported that Sports Illustrated used stories for product reviews that had authors it could not identify and found one author’s image on a website that sells AI-generated portraits. The magazine denies that some articles were AI-assisted.
A rough patch on the road to an electric car futureElectric vehicles have hit a much-publicized rough patch, as sales fail to match industry hopes. The challenge: enticing a new, more skeptical kind of buyer for green cars.
What turmoil over a CEO tells us about the future of AIThe company behind ChatGPT embodied a key question surrounding artificial intelligence: Will the profit motive face any constraints, for a technology that carries risks as well as benefits?
First LookMicrosoft hired the ex-CEO of OpenAI. Why his staff wants to join him.Microsoft tapped Sam Altman to head its AI research division, days after the ChatGPT creator was dismissed from the board of OpenAI. Mr. Altman’s firing has stirred controversy, as hundreds of OpenAI staff threaten to quit.
First LookStarbucks to face biggest strike on one of its busiest daysThe Workers United union says its expecting more than 5,000 Starbucks workers to take part in its one-day “Red Cup Rebellion” on Nov. 16. It’s the largest strike yet in the effort to unionize the company’s stores.
First LookInflation is falling for the first time in a year. Why now?Inflation didn’t rise from September to October, the first time that consumer prices haven’t moved from one month to another in over a year. A new report shows prices are down for just about everything – from gas to airfares to home appliances.
First LookAPEC draws Asia-Pacific trade leaders. Will matching outfits return?Leaders from the 21-member Asia-Pacific Economic Cooperation conference will meet in San Francisco this week. President Joe Biden and Chinese leader Xi Jinping will meet face-to-face against the backdrop of the frosty relationship between China and the U.S.
First LookOnce valued at $47 billion, WeWork seeks bankruptcy protectionIn a major fall for a firm once valued at close to $50 billion, WeWork is on the financial brink. The company said it entered a restructuring support agreement to reduce the company’s debt while evaluating WeWork’s commercial office lease portfolio.
FocusA robotaxi, a collision, and the bumpy road to an AI futureA collision in San Francisco was initiated by humans but also highlights safety hurdles for driverless cars – and regulation’s role in public trust.
First LookAntitrust suit stalls JetBlue deal in bid to save low-cost SpiritJetBlue’s effort to buy Spirit Airlines has momentarily stalled because of an antitrust lawsuit in federal court. Justice Department officials say the deal will hurt flyers who rely on Spirit’s rock-bottom fares.
First LookDeal reached: GM reaches tentative agreement with UAW to end strikeAn agreement between General Motors, Ford, and Jeep-maker Stellantis and the United Auto Workers union would include 25% general pay raises and cost of living adjustments. UAW President Shawn Fain called the deal “a turning point in the class war.”
First LookWashington's fix for empty downtown offices? Convert them to housing.The Biden administration is encouraging cities to convert empty office buildings into housing units, making billions of federal dollars available, as downtowns continue to struggle with few in-person workers compared to before the pandemic.
First LookFord cut a deal with UAW. It could set tone for GM, Stellantis talks.Striking auto workers have reached a tentative contract with Ford after six weeks of talks. The deal still has to be approved by the union, but does not apply to the other two automakers, where work stoppages continue.
Why striking UAW is so public about wanting more – despite big offersThe United Auto Workers union has won big concessions in its strike so far. Yet it’s demanding more – and publicly, rather than behind closed doors. Experts say it’s to impress nonunion autoworkers and win them over.
First LookAs oil prices rise, drillers spend: Chevron buys Hess for $53 billionMajor oil drillers are looking for new investments as oil prices surge. Chevron buying Hess Corporation for $53 billion comes less than two weeks after Exxon Mobile said it would acquire Pioneer Natural Resources for about $60 billion.
How world averted a grain shortage, despite Ukraine warIn place of last year’s panic over rising prices, global wheat prices are falling. While food insecurity remains, especially in conflict zones, the progress is a sign of the farm sector’s resilience.
First LookWorkplace gender gap study earns Claudia Goldin historic Nobel winClaudia Goldin helped explain the historical roots of the workplace and wage gaps faced by women around the world. She is the third woman to be awarded the Nobel economics prize, and the first to be the sole winner.
