Applications for U.S. state unemployment benefits rose last week, led by a jump in Louisiana, as Hurricane Ida continues to throw a wrench in the labor market’s broad recovery.
Initial unemployment claims in regular state programs increased to 332,000 in the week ended Sept. 11, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for an increase to 322,000 new applications.
Just ask RoxAnne Thomas, U.S. transportation manager at Gerber Plumbing Fixtures in suburban Chicago. She’s among the logistics chiefs at the center of the storm, battling every day to ensure products vital to the U.S. economy find their way to customers. (Read the full story
France’s top diplomat unleashed a stream of invective against President Joe Biden after the U.S. and the U.K. announced a new security alliance for the Pacific region which will cost the French defense industry some A$90 billion (56 billion euros).
Foreign Minister Jean-Yves Le Drian told France Info Thursday that he felt “stabbed in the back” over the “unacceptable” deal that will hurt French business and shuts the French military out of a key initiative in Western efforts to build a bulwark against China.
South Korea’s leading opposition candidate warned of a potential collapse in the housing market and a spike in bankruptcies as interest rates rise, blaming President Moon Jae-in for letting debt levels hit a record through expansionary spending.
Hong Joon-pyo, one of the top-ranked conservatives seeking to be the next president, said the current level of fiscal spending is unsustainable with government debt expected at over 1,000 trillion ($855 billion) next year.
- sell CDs of his music out of a car in the Brooklyn projects. Today, the co-founders of Roc-A-Fella Records are embroiled in a legal fight involving one of the most cutting-edge investments: non-fungible tokens.
The lawsuit is among a flurry involving NFTs as U.S. courts begin to grapple with the novel legal issues surrounding ownership and regulation of the assets, which have recently exploded in value. More than half a dozen suits citing NFTs have been filed in federal courts alone since the start of 2020, as monthly trading volume in the world’s biggest NFT marketplace, OpenSea, soared from $8 million six months ago to more than $1 billion in August.
Music-annotating startup Genius Media Group Inc., a site that drew attention in part for outsized funding from venture capitalists, has sold its assets to a Santa Monica, California-based media holding company for $80 million.
The buyer is MediaLab.Ai Inc., which will cut some jobs as part of the process. “We are restructuring the way in which original content is produced at Genius and as part of that some very talented individuals on the content and production teams were let go,” MediaLab said in a statement. The company will not make cuts to the teams handling sales, product or engineering, said a person familiar with the matter who asked not to be identified discussing private information. “The scale of the community platform is what attracted us to Genius and this is where we will be heavily investing going forward, with a renewed focus on emerging artists,” the company said.
- United Nations nuclear watchdog as envoys opted to try coaxing Tehran back to the negotiating table rather than mount pressure over an investigation into decades-old traces of atomic material.
By avoiding an official rebuke, the
The Philippines is checking initially 250 social media influencers if they are paying their taxes as the government seeks to plug revenue leaks amid rising debt.
Letters for investigation were sent to social media endorsers who are top earners in their field, the finance department said in a statement on Thursday, citing a report from the Bureau of Internal Revenue.
- small boost on Tuesday when U.S. inflation data came in slightly lower than expected. Today we get a check on the growth side of the debate, with August retail sales data and weekly jobless claims numbers due. Sales are expected to have fallen again as car purchases plunge, while claims may tick higher due to an influx of
- Daniel Moss is a Bloomberg Opinion columnist covering Asian economies. Previously he was executive editor of Bloomberg News for global economics, and has led teams in Asia, Europe and North America.
- Tesla Inc.’s ballyhooed Battery Day event last year, CEO Elon Musk set himself an ambitious target: to produce a $25,000 electric vehicle by 2023. Hitting that sticker price -- about $15,000 cheaper than the company’s
- Rolls-Royce Holdings Plc that are set to profit from a new deal with Britain and the U.S.
French firms reacted with dismay to the effective loss of a contract won half a decade ago, with state-controlled
- image of technicolor aliens in a ramen restaurant.
This is the story that captivated crypto social media on Wednesday, when the largest marketplace for non-fungible tokens OpenSea confirmed an employee was trading on confidential information after a few users on Twitter uncovered bread crumbs pointing to nefarious behavior.
It’s mid-August, and logistics manager RoxAnne Thomas’s phone won’t stop pinging. Her faucets, sinks, and toilets are waylaid near Shanghai, snagged in Vancouver, and buried under a pile of shipping containers in a rail yard outside Chicago. As U.S. transportation manager for
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