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First LookLights off for incandescents: Edison bulbs ruled a relic of the pastThomas Edison’s pioneering incandescent light bulb is fading into history in favor of more efficient and longer-lasting LED bulbs. New federal rules governing energy efficiency went into effect, ending the manufacture and sale of incandescent bulbs.
First LookInflation battle: Federal Reserve hikes interest rate for 11th timeFor the 11th time in the past 17 months, the Federal Reserve has hiked its benchmark interest rate – this time from 5.1% to 5.3% – in an effort to curb inflation. The Fed gave no clear signs, however, of when or whether there will be further increases.
Corporate diversity push: How it’s shaken as affirmative action endsA recent court ruling on affirmative action is roiling boardrooms – even as their focus on diversity isn’t likely to disappear.
First LookUPS strikes historic union deal, averting nationwide disruptionUPS agreed on a contract with its 340,000-member union, preventing a potential nationwide logistics disruption. This “historic” and highly beneficial deal increases part-time starting pay and ensures safety improvements.
First LookUPS negotiations resume but may end in strike. What’s at stake?Negotiations between UPS and its unionized workers are set to resume Tuesday before their contract expires on July 31. If a new contract is not agreed upon, the workers will strike, slowing supply chains and possibly provoking government intervention.
First LookUS inflation hits lowest point since 2021, bringing consumers reliefAfter two years of soaring inflation, the Federal Reserve reported the lowest figure since early 2021 – 3% in June, year over year. The shift, which should ease consumers’ minds, comes as prices ease for gasoline, airfares, used cars, and groceries.
Moms navigate a post-pandemic shift back to officesChild care can still be hard to find, yet many mothers are managing the return to in-person work, and female employment has stayed surprisingly strong.
Could battery boom change South’s views of green energy?Alabama could be the buckle of a new manufacturing “battery belt” across the South. The economic activity is putting green energy in a new light.
Proposed power plant emission cuts: Can US keep the lights on?A debate over how fast to transition to clean energy is gaining urgency, as a proposed EPA emissions rule stirs concerns about electric grid reliability.
First LookRecession? Why the US may have a 'soft landing' instead.Economists have long predicted that the United States is due for a recession. But, as consumers keep spending and employers keep hiring, some experts now believe the U.S. might manage to avoid a recession in the near future.
Test for humans: How to make artificial intelligence safeAs tools based on artificial intelligence spread, calls for regulating the technology – and addressing basic questions of trust – have been rising.
First LookAre your checks safe? Fraud surges, targeting vulnerable groups.Check fraud has doubled since 2021 due to organized crime, forcing businesses to be extra cautious. Americans should minimize mailing checks and seek secure options like post office drop-offs, officials say.
Get a job: After 100 years, states loosen child labor lawsFor the first time in history, both red and blue states are engaged in a nationwide discussion over relaxing rules around children’s work.
First LookJournalists walk out: Hundreds strike against major paper chainHundreds of journalists across two dozen local papers owned by Gannett, the biggest newspaper chain in the U.S., went on strike on Monday. They demanded an end to painful cost-cutting measures and a change of leadership at their parent company.
First LookWealth over health: Why countries continue to tax tamponsNearly 20 countries have abolished or lowered “tampon taxes,” consumption taxes levied on menstrual products, following Kenya’s decision in 2004. But even amid a push for access to sanitary products, some countries hesitate to relinquish the revenue.
First LookVenmo, PayPal not safe for long-term deposits, watchdogs sayCustomers should not keep their money in apps like Venmo for the long term, the Consumer Financial Protection Bureau warned weeks after three banks collapsed. Payment apps are not traditional bank accounts, so funds may not be covered by deposit insurance.
First LookJob growth defies expectations: U.S. adds 339,000 jobs in MayU.S. employers added 339,000 jobs in May, demonstrating a resilient job market despite recession predictions. The unemployment rate, however, rose to 3.7% from a five-decade low of 3.4% in April.
First LookAmazon will pay $25 million in FTC child data-privacy fineAmazon will pay over $30 million in fines resulting from Federal Trade Commission claims that it illegally kept data – including that of children – collected by its products. Amazon disputes the claims but says the settlements “put these matters behind us.”
First LookTeens or immigrants: Who should fill US jobs?A tight labor market means many teen summer workers have secured more hours and better pay. Meanwhile, states are considering a variety of proposals to expand teens’ roles in the workplace, a move critics worry will erode hard-won protections for minors.
First LookBiden, McCarthy reach debt-ceiling deal. Now Congress must approve.President Joe Biden and House Speaker Kevin McCarthy have reached an "agreement in principle," leaving Congress just days to approve the deal and avoid default.
