US Stocks Mostly Higher Despite Rise in Weekly Jobless Claims The US stock market opened mostly higher on Thursday despite the announcement of a rise in weekly jobless claims, according to FactSet data. The Dow Jones Industrial Average was down around 0.1% after the opening bell, while the S&P 500 rose less than 0.1%, and
Wildfire Smoke from Canada may Impact Eastern US Flights Again The Federal Aviation Administration (FAA) has warned that smoke caused by wildfires in Canada could cause more flight disruptions on Thursday in the East of the United States as visibility continues to be reduced. On Wednesday, hundreds of flights were delayed due to the reduced
The economy of the eurozone has slipped into technical recession in the first quarter of the year as forecasts were revised downwards for both the end of last year and the first three months of 2023. Data from statistics agency Eurostat showed that the bloc’s gross domestic product had fallen by 0.1% in the first
The Equal Employment Opportunity Commission (EEOC) has updated its guidance on the use of artificial intelligence technology (AI) in employment-related decisions. The guidance titled, “Select Issues: Assessing Adverse Impact in Software, Algorithms, and Artificial Intelligence Used in Employment Selection Procedures Under Title VII of the Civil Rights Act of 1964,” comes amid rising concerns over
China’s largest banks have cut interest rates for savers in an effort to jumpstart the country’s economy, which has been slow to recover in the wake of the pandemic. The country’s six state-owned commercial banks have all updated their yuan-denominated demand deposit interest rates to 0.2%, down from 0.25% last year. Similar rate cuts were
California Supreme Court Broadens Protections for Whistleblowers in Garcia-Brower v. Kolla’s, Inc. In a recent decision, the California Supreme Court clarified that reports of unlawful activity made to an employer or agency that already knew about the reported unlawful activity are protected under Labor Code section 1102.5(b). The decision resolves a split between the courts
Wilson Aerospace, a small family-run business in Colorado, has filed a lawsuit against aerospace giant Boeing for allegedly stealing intellectual property over the past 20 years. The claims center around multiple custom-designed tools that Wilson created for Boeing to use on NASA projects, including the International Space Station (ISS) and Space Launch Systems moon rocket.
GAO Creates Potential Trap Regarding 10-day Protest Timeliness Period The Government Accountability Office (GAO) has set a potential trap for contractors intending to file a bid protest. The trap centers on the beginning of the 10-day protest timeliness period when the offeror receives information from the contracting office outside the contractor’s regular business hours. The
New Advertising Rules for Crypto Firms: Consumers to be Alerted to Risks The United Kingdom’s Financial Conduct Authority (FCA) has announced new advertising rules for firms marketing crypto assets. The FCA aims to protect consumers from making hasty financial decisions and alert them to the risks of investing in unregulated crypto assets. The new measures
Gen Z investors have overwhelmingly turned to cryptocurrency as their preferred investment, according to a new report from the Financial Industry Regulatory Authority’s (FINRA) Investor Education Foundation and the CFA Institute. The report is based on an online survey of people in the US aged 18-25, and it found that 55% of Gen Z investors
The golf world is abuzz this week following the surprise announcement of a proposed merger between the PGA Tour and its rival, LIV Golf. After months of feuding and antitrust lawsuits between the two leagues, the agreement would put an end to all pending litigation and create a unified golf organization. But what does this
Hatzel & Buehler, a commercial electrical contractor with branches in multiple states and the District of Columbia, has been accused of discriminatory hiring practices by the U.S. Equal Employment Opportunity Commission (EEOC). According to the EEOC’s lawsuit filed against the company, Hatzel & Buehler violated federal law by practicing discriminatory hiring and recruitment for job
Key Points: – Thalia Arts Foundation announces 10 million dollar donation to support arts education – The foundation hopes to inspire future generations and bridge the gap in arts education access – Thalia Arts Foundation plans to partner with schools and organizations to implement their vision – The donation is one of the largest single
GameStop Corp., the videogame retailer and meme stock, announced the firing of its Chief Executive Officer Matthew Furlong on Wednesday. Simultaneously, the company elected activist investor Ryan Cohen as its executive chairman, effective immediately. Shares of GameStop fell by 19% in after-hours trading following a brief press release outlining the move. However, the release did
Market Movers Report: Investor Reactions to Amazon’s Stock Drop Amazon, the e-commerce giant, experienced a 4.3% dip in its stock following an “open letter” from Bernstein analysts addressed to the CEO, Andy Jassy, and the company’s board. The letter expressed concern that Amazon was pursuing “too many ideas” and needed to focus on what it
GameStop Fires CEO Matthew Furlong, Appoints Ryan Cohen as Executive Chairman GameStop has fired its CEO Matthew Furlong, effective immediately, and appointed its board chairman Ryan Cohen as executive chairman, the company has announced. GameStop’s stock dropped by over 20% in extended trading after the video game retailer made the announcement. The company did not
STMicroelectronics and Sanan Optoelectronics announced on Wednesday that they would form a semiconductor-manufacturing joint venture in China, committing $3.2 billion in total build-out funding. The European and Chinese semiconductor giants’ new silicon-carbide-device manufacturing project in Chongqing, China, aims to tap into the rising demand for semiconductors for car electrification as well as industrial power and
Payments Company Affirm Surges 6% After Partnership Announced with Amazon Pay Affirm, the payments company, has seen a surge in its shares after it was announced that it will partner with Amazon Pay. The company’s Adaptive Checkout, which allows customers to pay over time, will now be an option for customers purchasing through merchants offering
Wildfires in Canada Delay Flights at New York-Area Airports Due to Smog Smoke from wildfires raging in Canada has caused flight delays at airports in the New York region as haze descended upon the area, reducing visibility. The Federal Aviation Administration (FAA) reacted by slowing the volume of air traffic to and from the airports
How to Conduct a Human Resources Compliance Audit to Proactively Protect Your Company from Legal Liabilities In today’s business environment, companies face increasingly complex regulations governing their conduct. These regulations include employment laws, corporate governance, and anti-corruption laws, among others. Failure to comply with applicable laws and regulations can result in negative publicity, government investigations,
Load More