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☆ ‘Should have been done yesterday’: Rural, older Americans could get hurt as affordable internet program runs out of cash
▼ + stars: | 2024-04-29 | by ( Brian Fung | Jason Carroll | ) edition.cnn.com time to read: +14 min

But in just a few weeks, her internet bills, and those of other Americans like her, could skyrocket by hundreds of dollars a year. The program is heavily used by Americans over age 50, military veterans and low-income working families nationwide, according to FCC data. Amira Karaoud/Reuters/FileRural and older usersThe ACP has quickly gained adoption since Congress created the program in the 2021 bipartisan infrastructure law. Large swaths of the ACP’s user base trend older; Americans over 65 account for almost 20% of the program. The FCC’s Lifeline program, which dates to the Reagan administration, similarly gives low-income households a monthly discount on phone or internet service.

Persons: Cindy Westman, —, I’ll, ”, Westman, ’, Westman —, Gigi Sohn, “, Biden, Allison Bailey /, Cynthia George, George, ” George, Marc Veasey, They’re, Geoffrey Starks, “ It’s, ” Starks, Amira Karaoud, Walter Durham, I’m, ” Durham, Michelle McDonough, McDonough, she’ll, doesn’t, “ I’m, ” McDonough, Kamesha Scott, Louis, Megan Janicki, ” Janicki, Reagan, Mike Johnson, Blair Levin, Johnson didn’t, Levin, Jonathan Blaine, ” Blaine, they’re Organizations: CNN, Program, Social, Federal Communications Commission, FCC, Capitol, Getty, MSN, White, ” Texas Democratic, “, Comcast, ACP, Navy, American Library Association, Lifeline, Republicans, Republican, New, Research, ” Bills Locations: Eureka , Illinois, America, Dallas, Las Vegas, Kentucky, San Diego, United States, Maine, St, Vermont

☆ FCC cracks down on cable TV ‘junk fees’
▼ + stars: | 2024-03-14 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

The new junk fees rule requires cable and satellite TV companies to list “all-in” prices to consumers in their billing and marketing materials — including any miscellaneous fees, such as those related to sports programming or local broadcast channels. Between 24% and 33% of the typical consumer’s bill can be attributed to fees, consumer advocates told the FCC. In a separate move last year, the FCC proposed banning certain cable fees altogether, including early termination fees that the agency says hinder competition and prevent customers from easily switching providers. Mending the digital divideIn addition to cable, the FCC also addressed internet availability during its Thursday meeting. Defining high-speed internetThe report also reflects newly adopted revisions in how the country defines high-speed internet, which the FCC voted to approve on Thursday.

Persons: “, ”, Jessica Rosenworcel, ’ ”, NCTA, Dave Wallace, Amira Karaoud, Biden, Rosenworcel, you’re, Anne Neuberger, Neuberger Organizations: Washington CNN, Federal Communications Commission, FCC, Energy Star, National Institute for Standards, Technology, Logitech, LG, Samsung, Consumer, European Union Locations: Kentucky, Louisville , Kentucky, U.S, greenlight, Las Vegas, America

☆ Paraguay's beef likely won't boost tight US supplies, importers say
▼ + stars: | 2023-11-13 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

[1/2] Employees cut fresh beef meat into small pieces at the First Capitol Meat Processing plant in Corydon, Indiana U.S. January 31, 2022. "There's typically now a pretty big race to get product in under that quota," Sothmann said. The U.S. Department of Agriculture forecasts total U.S. beef and veal imports at about 1.6 million metric tons this year. Paraguay may eventually ship 3,250 to 6,500 metric tons annually, or 5% to 10% of the tariff-rate-quota for the countries without individual agreements, the USDA said. Analysts expect Paraguay to compete with producers like Brazil to supply lean beef that is blended with fattier U.S. supplies.

Persons: Amira Karaoud, Stephen Sothmann, Sothmann, Tom Polansek, Rod Nickel Organizations: Corydon , Indiana U.S, REUTERS, Rights, Import Council of America, Suppliers, U.S . Department of Agriculture, U.S, Thomson Locations: Corydon , Indiana, Paraguay, U.S, Brazil, Ireland, Japan, Namibia

☆ US reduces beef exports as cattle herd shrinks, squeezing Tyson Foods
▼ + stars: | 2023-11-10 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

The decline in cattle numbers, after years of drought fried pasture lands used for grazing, led to soaring U.S. beef prices. Higher prices incentivize companies to import cheaper beef and discourage U.S. beef purchases by buyers like China, Japan and Egypt. For Tyson, the loss of U.S. export business compounds margin pressure from higher cattle prices, Goldman Sachs analysts said. U.S. beef exports typically command higher margins than domestic shipments, they said. The USDA on Thursday raised its forecasts for beef imports in 2023 and 2024 in a monthly report.

Persons: Amira Karaoud, world's, Tyson, Cargill, Pete Bonds, Bonds, Goldman Sachs, Donnie King, Katelyn McCullock, McCullock, Derrell, Tom Polansek, Rod Nickel Organizations: Corydon , Indiana U.S, REUTERS, Rights, Tyson, U.S . Department of Agriculture, USDA, U.S ., U.S, Marketing, Center, Oklahoma State University, Thomson Locations: Corydon , Indiana, United States, China, Japan, Egypt, Texas, U.S, Tyson's, Florida, South Carolina, Australia, New Zealand, Paraguay, Paraguayan, Mexico

REUTERS/Amira Karaoud/File Photo Acquire Licensing RightsNEW YORK, Nov 3 (Reuters) - Wildcat Capital Management, a top shareholder in Consolidated Communications Holdings (CNSL.O), said on Friday it plans to vote against its $3.1 billion takeover by an investor consortium, as it undervalues the broadband services provider. In October, Consolidated Communications agreed to be bought by an investor group comprising Searchlight Capital Partners And British Columbia Investment Management Corp, months after the group had first submitted an offer to buy the company. Reuters reported in July that Wildcat asked Consolidated Communications to reject the offer. Consolidated Communications did not immediately respond to a request for comment. Wildcat argued that mature fiber and cable operators have historically been valued at 10 to 15 times earnings before interest, taxes, depreciation and amortization (EBITDA) by acquirers, whereas Consolidated Communications' take-private deal valued the company at about six times of cash flow.

Persons: Amira Karaoud, Wildcat, CNSL, Tom McConnon, McConnon, Anirban Sen, Rashmi Organizations: REUTERS, Wildcat Capital Management, Consolidated Communications Holdings, Consolidated Communications, Reuters, Searchlight, Partners, Columbia Investment Management Corp, Wildcat, acquirers, Frontier Communications, Thomson Locations: Oldham county, Louisville , Kentucky, U.S, , Illinois, New York

But national winter wheat yield ended up only about 2% below the long-term trend in 2023. Winter wheat there is only 32% GE, down from the week’s five-year average of 43% but above the year-ago 24%. Winter wheat is 42% and 41% GE, respectively, equal to the Oklahoma average and 13 points above the Texas one. Winter wheat at 47% GE is among the lower ratings for the date historically, but it is not necessarily in poor company. U.S. winter wheat conditions, fall versus springKaren Braun is a market analyst for Reuters.

Persons: Amira Karaoud, Karen Braun, Matthew Lewis Organizations: REUTERS, Rights, U.S . Department of Agriculture, GE, Nino, El Nino, Reuters, Thomson Locations: Shelbyville , Kentucky, U.S, Rights NAPERVILLE , Illinois, United States, Kansas, Illinois, Ohio, Missouri , Kentucky, Tennessee, Oklahoma, Texas, Southern

☆ US services sector growth slows moderately
▼ + stars: | 2023-10-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The survey's measure of new orders received by services businesses dropped to 51.8, the lowest level since December, from 57.5 in August. PRICES REMAIN ELEVATEDDespite the slowdown in new orders, services businesses continued to face higher prices. A gauge of prices paid by services businesses for inputs was unchanged at 58.9. Some economists view the ISM services prices paid measure as a good predictor of personal consumption expenditures (PCE) inflation. The ISM's gauge of services sector employment dipped to 53.4 from 54.7 in August, which mostly reflected supply issues.

Persons: Amira Karaoud, Kurt Rankin, tightens, September's, Goldman Sachs, Lucia Mutikani, Paul Simao, Andrea Ricci, Will Dunham Organizations: REUTERS, PMI, Institute for Supply Management, Federal Reserve, PNC Financial, United Auto Workers, Retailers, Treasury, Fed, ADP, Conference Board, Stanford Digital Economy, Labor Department's Bureau of Labor Statistics, Goldman, BLS, Thomson Locations: Louisville, U.S, WASHINGTON, Pittsburgh

☆ US private payrolls growth slows sharply in September, ADP report shows
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

Private payrolls rose by 89,000 jobs last month, the ADP National Employment Report showed on Wednesday. Economists polled by Reuters had forecast private employment would rise by 153,000. The ADP report, jointly developed with the Stanford Digital Economy Lab, was published ahead of the release on Friday of the Labor Department's more comprehensive and closely watched employment report for September. The ADP report has not been a reliable gauge in trying to predict the private payrolls count in the employment report. According to a Reuters survey of economists, the Bureau of Labor Statistics is expected to report that private payrolls increased by 160,000 jobs in September.

Persons: Amira Karaoud, payrolls, Lucia Mutikani, Paul Simao, Andrea Ricci Organizations: REUTERS, Rights, ADP, Reuters, Federal Reserve, Conference Board, Stanford Digital Economy, Labor, of Labor Statistics Locations: Louisville, U.S

☆ US weekly jobless claims fall as labor market remains tight
▼ + stars: | 2023-08-17 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, pointing to a still tight labor market. Although the labor market is slowing, with job gains in July the second smallest since December 2020, conditions generally remain tight. The unemployment rate is at levels last seen more than 50 years ago. Labor market resilience is underpinning the economy, by driving retail sales and homebuilding. The so-called continuing claims increased 32,000 to 1.716 million during the week ending Aug. 5, the claims report showed.

Persons: Amira Karaoud Organizations: WASHINGTON, REUTERS, Labor Department, Reuters, Labor Locations: Louisville, U.S, Ohio

☆ Small businesses boost US private payrolls in July
▼ + stars: | 2023-08-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

REUTERS/Amira Karaoud/File photoSummary Private payrolls increase by 324,000 in JulyWage growth gradually slowingWASHINGTON, Aug 2 (Reuters) - U.S. private payrolls rose more than expected in July as small businesses boosted hiring, pointing to continued labor market resilience that could shield the economy from a recession. Private payrolls increased by 324,000 jobs last month after surging by 455,000 in June, according to ADP. MANUFACTURING DRAGHiring at small business, establishments with one to 49 employees increased 237,000, accounting for more than two-thirds of the gain in private payrolls last month. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. According to a Reuters survey of economists, the BLS is likely to report that private payrolls increased by 179,000 jobs in July.

Persons: Amira Karaoud, Christopher Rupkey, Nela Richardson, It's, Daniel Silver, Lucia Mutikani, Paul Simao Organizations: REUTERS, Federal Reserve, ADP, Reuters, Treasury, Fed, Stanford Digital Economy, U.S . Bureau of Labor Statistics, BLS, JPMorgan, Thomson Locations: Louisville , Kentucky, U.S, WASHINGTON, New York

☆ US economic growth accelerates in second quarter; inflation retreats
▼ + stars: | 2023-07-27 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Gross domestic product increased at a 2.4% annualized rate last quarter. Excluding food and energy, prices rose at a 2.6% pace following a 4.2% rate of increase in the first quarter. Though the pace of growth slowed from the first quarter's robust 4.2% rate, it was enough to add more than a full percentage point to GDP growth. Government spending also contributed to GDP growth. A measure of domestic demand increased at a solid 2.3% rate after surging at a 3.2% pace in the first quarter.

Persons: Amira Karaoud, Christopher Rupkey, Joe Biden's, Lucia Mutikani, Nick Zieminski, Andrea Ricci Organizations: REUTERS, Commerce, Federal Reserve, Gross, Reuters, Fed, Consumer, Labor Department, Conference, Treasury, Investment, Thomson Locations: Louisville, U.S, WASHINGTON, New York, United States

☆ U.S. private payrolls beat expectations in June - ADP
▼ + stars: | 2023-07-06 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

REUTERS/Amira KaraoudWASHINGTON (Reuters) - U.S. private payrolls increased more than expected in June, indicating that the labor market remains strong despite growing risks of a recession from higher interest rates. Private payrolls jumped by 497,000 jobs last month, the ADP National Employment report showed on Thursday. Economists polled by Reuters had forecast private employment increasing 228,000. A survey last month showed consumers’ perceptions of the labor market more upbeat in June relative to May. According to a Reuters survey of economists, private payrolls likely increased by 200,000 jobs in June.

Persons: Amira Karaoud WASHINGTON, payrolls Organizations: REUTERS, ADP, Reuters, Fed, Stanford Digital Economy, Labor Department’s Bureau of Labor Statistics Locations: Louisville, U.S

☆ US weekly jobless claims post biggest drop in 20 months as economy shows stamina
▼ + stars: | 2023-06-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

"The economy is currently displaying genuine signs of resilience," said Gregory Daco, chief economist at EY-Parthenon in New York. Initial claims for state unemployment benefits decreased 26,000 to a seasonally adjusted 239,000 for the week ended June 24. Continuing claims covered the period during which the government surveyed households for June's unemployment rate. The unemployment rate was at 3.7% in May. GDP consumer contributionEconomists had expected first-quarter GDP growth would be raised slightly to a 1.4% pace.

Persons: Gregory Daco, Unadjusted, Rubeela Farooqi, Jerome Powell, Amira Karaoud, Scott Hoyt, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Federal Reserve, Labor Department, Reuters, Financial, U.S, Treasury, REUTERS, Conference Board, Gross, Commerce Department, Thomson Locations: WASHINGTON, EY, New York, Minnesota, Ohio, California, Texas, Pennsylvania, Connecticut, New Jersey, White Plains , New York, Spanish, Madrid, Louisville, U.S, West Chester , Pennsylvania

☆ Four Horse Deaths at Churchill Downs Cast Shadow Ahead of Kentucky Derby
▼ + stars: | 2023-05-05 | by ( Joseph De Avila | ) www.wsj.com time to read: 1 min

The Kentucky Derby is on Saturday at Churchill Downs. Photo: AMIRA KARAOUD/REUTERSThe deaths of four horses at Churchill Downs days before this weekend’s Kentucky Derby have renewed safety concerns in the horse-racing industry. Two horses trained by Saffie Joseph Jr ., Parents Pride and Chasing Artie, died in recent days from unknown causes. The University of Kentucky Veterinary Diagnostics Laboratory is conducting necropsies on the horses to determine causes of death. Two other horses were euthanized after suffering injuries.

☆ Horse Trainer Suspended as Churchill Downs Investigates Sudden Deaths of Two Horses
▼ + stars: | 2023-05-04 | by ( Joseph De Avila | Suryatapa Bhattacharya | ) www.wsj.com time to read: 1 min

The Kentucky Derby is on Saturday at Churchill Downs. Photo: AMIRA KARAOUD/REUTERSChurchill Downs said it has indefinitely suspended trainer Saffie Joseph Jr ., and scratched the horse Lord Miles from Saturday’s Kentucky Derby as it investigates the sudden deaths of two horses under Mr. Joseph’s care. The horses, Parents Pride and Chasing Artie, died in recent days from unknown causes.

[1/2] People queue outside a newly reopened career center for in-person appointments in Louisville, Kentucky, U.S., April 15, 2021. REUTERS/Amira KaraoudMarch 9 (Reuters) - Layoffs by U.S. companies over January and February touched the highest since 2009, with the tech sector accounting for more than a third of the over 180,000 job cuts announced, a report showed on Thursday. In February alone, layoffs in the United States stood at 77,770, more than five times higher than the 15,245 job cuts announced a year earlier, according to the report from employment firm Challenger, Gray & Christmas Inc.Reuters Graphics"Right now, the overwhelming bulk of cuts are occurring in Technology. Retail and Financial are also cutting right now, as consumer spending matches economic conditions," said Andrew Challenger, senior vice president of the firm. U.S. firms announced plans to hire 28,830 workers in February, down 87% from 215,127 a year earlier, the report added.

[1/7] Abortion rights campaigners participate in a demonstration following the leaked Supreme Court opinion suggesting the possibility of overturning the Roe v. Wade abortion rights decision, in Washington, U.S., May 14, 2022. The report detailed an eight-month investigation conducted by Supreme Court marshal Gail Curley at the direction of Chief Justice John Roberts. The report did not identify a specific source of the leak, noting that none of the 97 court employees interviewed by investigators confessed to the disclosure. It was critical of some of the court's internal security protocols, and made clear that investigators would continue to pursue any new leads. "In time, continued investigation and analysis may produce additional leads that could identify the source of the disclosure," the report stated.

☆ U.S. job growth beats expectations; unemployment rate steady at 3.7%
▼ + stars: | 2022-12-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +2 min

[1/3] People line up outside a newly reopened career center for in-person appointments in Louisville, U.S., April 15, 2021. Nonfarm payrolls increased by 263,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data for October was revised higher to show payrolls rising 284,000 instead of 261,000 as previously reported. The unemployment rate was unchanged at 3.7%. Fed Chair Jerome Powell said on Wednesday the U.S. central bank could scale back the pace of its rate increases "as soon as December."

The interest rate on her operating note doubled this year and will be higher in 2023. Now, his interest rate is 7.35%, and he expects it could reach 8% by year’s end – a 142% increase in eight months. "It's easier to get financing when interest rates are cheap because [banks] are willing to take more risk," said a CNH Industrial dealer representative, who declined to be named. In separate statements, Deere and AGCO said interest rates they offer depend on loan terms, borrower creditworthiness and equipment type. CNH Industrial said interest rates for larger equipment are lower than rates for smaller machinery.

☆ U.S. weekly jobless claims increase moderately
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Amira Karaoud/File PhotoWASHINGTON, Sept 22 (Reuters) - The number of Americans filing new claims for unemployment benefits increased moderately last week, suggesting the labor remains tight despite aggressive interest rate increases from the Federal Reserve to cool demand. Initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 213,000 for the week ended Sept 17, the Labor Department said on Thursday. The claims report covered the period during which the government surveyed businesses for the nonfarm payrolls portion of September's employment report. The number of people receiving benefits after an initial week of aid decreased 22,000 to 1.379 million in the week ending Sept. 10. Data next week on the so-called continuing claims, a proxy for hiring, will shed more light on September's job growth picture.

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