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CNN —The US job market showed a softer side in April when just 175,000 jobs were added, marking one of the weakest months in the past three years. It was also well shy of economists’ expectations (for 235,000 jobs added) and sharply lower than the 315,000 net gain for March. A separate report released Thursday showed that fewer job cuts were announced in May than both the month and year before. Foreign-born workers: In addition to high labor force participation rates among prime working age individuals, specifically prime working-age women, the US labor market is benefiting from a boom in immigrant workers. Some of these workforce moves typically come at the end of the school year, meaning the May jobs report and June report could show the effects.
Persons: It’s, we’ve, Elizabeth Crofoot, , aren’t, Crofoot, Dean Baker, that’s, Julia Pollak, , ” Andrew Challenger, Ryan Sweet, CEPR’s Dean Baker Organizations: CNN, Bureau of Labor Statistics, Federal Reserve, BLS, Center for Economic, Policy Research, “ Employers, Department of Labor, Challenger, Secondary School Emergency, Oxford Economics Locations: State
Hallie Biden (L), daughter in-law of U.S. President Joe Biden, arrives to the J. Caleb Boggs Federal Building for the trial of Hunter Biden on June 06, 2024 in Wilmington, Delaware. Hallie Biden, the widow of President Joe Biden's late son Beau Biden, testified in federal court Thursday that she became a drug user after the president's surviving son, Hunter Biden, introduced her to crack cocaine. Hallie Biden was romantically involved with Hunter Biden after Beau Biden's death from brain cancer in 2015. Hunter Biden, 54, faces three counts connected to his purchase and possession of the gun despite his drug use. The New York Times reported Wednesday that Republicans have largely kept quiet about Hunter Biden's trial for that reason.
Persons: Hallie Biden, Joe Biden, Caleb Boggs, Hunter Biden, Joe Biden's, Beau Biden, I'm, Hunter, Beau Biden's, Donald Trump, Trump, Biden, Hunter Biden's Organizations: NBC News, Democratic, Republican, Trump, The New York Times, Republicans Locations: Wilmington , Delaware, Delaware, New York
This was the same problem that partially brought Nazi Germany to its knees, wrote Hamish de Bretton-Gordon and James Holland in a commentary published on Wednesday by The Telegraph. They recalled how Nazi Germany had obsessed over the quality of its tanks, chiefly the King Tiger, but meanwhile only managed to produce less than 500 of them. AdvertisementIn total, Nazi Germany built just under 50,000 tanks during the war, while the US built over 100,000. The sheer numbers made a difference in World War II, and they'll make a difference now, de Bretton-Gordon and Holland wrote. Russia's mass-production gameIn June 2023, de Bretton-Gordon praised British armor for its quality in his commentary on the war in Ukraine.
Persons: , Hamish de Bretton, Gordon, James Holland, de Bretton, Holland, that's, King Tiger, Sherman, Bretton, Rishi Sunak, Volodymyr Zelenskuy, Andrew Matthews, what's, laud Organizations: Service, British Army, The Telegraph, Business, CBRN, Nuclear Regiment, Gordon, Soviet Union, Challenger, UK Defense, 1st Royal Tank Regiment, Russia's Locations: Britain, Nazi Germany, Holland, Germany, Soviet Union, Kursk, Lulworth , Dorset, England, Ukraine, Russia, China, British, Moscow
Rob Menendez — the son of Sen. Bob Menendez — just survived a tough primary challenge. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It's a significant victory for the younger Menendez, who had found himself in the fight of his life amid his father's lurid corruption scandal. Sen. Menendez has been accused of accepting bribes in the form of wads of cash and gold bars in exchange for, among other things, acting as a foreign agent. This story is available exclusively to Business Insider subscribers.
Persons: Rob Menendez —, Sen, Bob Menendez —, Ravi Bhalla, , Rob Menendez, Menendez Organizations: Hoboken, Service, Rob Menendez of New, Democratic, Associated Press, Business Locations: New Jersey, Rob Menendez of, Rob Menendez of New Jersey
A Monzo debit card being used at a payment terminal. Monzo, the British digital challenger bank, on Monday reported its first full year of profitability. The fintech startup said in annual financial results that its pre-tax profits totaled £15.4 million ($19.6 million) in its 2023-2024 fiscal year, swinging to the black from a £116.3 million loss the year prior. Monzo posted revenues of £880 million for the full year, up from £355.6 million in 2022. Monzo is one of Britain's largest digital banks, competing with the likes of Starling and Revolut as well as established lenders such as HSBC and Barclays .
Persons: Monzo, Starling, Revolut Organizations: HSBC, Barclays Locations: British
1 Nelly Korda missed the cut at the US Women’s Open Friday, on a day when Lexi Thompson made her final appearance in the competition after also failing to make it to the weekend. I had nothing to lose, and that was my mentality – just kind of go for it.”Lexi Thompson was competing in her 18th consecutive US Women’s Open. Sarah Stier/Getty ImagesEarlier in the week, Thompson had announced she would retire from professional golf at the end of this season. The 29-year-old, competing in her 18th consecutive US Women’s Open, was 13-over overall and afterwards was tearful answering questions from reporters. “Minus the golf it was amazing,” Thompson, who qualified for her first US Women’s Open aged 12, said.
Persons: Nelly Korda, Lexi Thompson, Korda, , , ” Lexi Thompson, Sarah Stier, Thompson, ” Thompson, “ It’s, Thailand’s Wichanee Meechai, Andrea Lee, Minjee Lee, Yuka Saso Organizations: CNN, US, Lancaster Country Club, American Locations: Pennsylvania
But this was no ordinary extraordinary case. And President Biden was no disinterested bystander. If Mr. Biden spoke out directly, he would doubtlessly feed into Mr. Trump’s false narrative that the prosecution was nothing more than a political hit job to take out his challenger. Mr. Biden’s damned-if-you-do, damned-if-you-don’t conundrum meant that his political risks essentially outweighed his presidential imperatives. While many of his predecessors have played a pastoral role at other moments when the justice system was tested during incendiary cases — think Rodney King, Michael Brown or George Floyd — Mr. Biden concluded that speaking out would make things worse, not better.
Persons: Biden, Donald J, Trump, Biden’s, Rodney King, Michael Brown, George Floyd — Mr Organizations: White Locations: United States
With a month left before drivers start being charged to enter Midtown and downtown Manhattan under New York City’s congestion pricing plan, a new group of challengers is joining a crowded field of critics: truckers. “It’s simply the way that trucks are being targeted.” The suit was filed in federal court in Manhattan. The congestion pricing plan, scheduled to start June 30, will charge fees to most vehicles entering Manhattan on or below 60th Street. Passenger vehicles entering the zone will be charged up to $15 once a day, with some exceptions. Commercial trucks will be charged $24 or $36 per entry, depending on the size of the vehicle and the time of day.
Persons: , Kendra Hems, “ It’s Organizations: Trucking Association of New Locations: Midtown, Manhattan, New York, Trucking Association of New York
Cathie Wood's ARK Invest has taken a stake in Elon Musk's startup xAI as she deepens her big bet on artificial intelligence. ARK Venture Fund has invested in xAI as of Sunday, the St. Petersburg, Florida-based asset manager said in an email to clients Tuesday evening. The xAI startup is also not the only Musk-led company Wood's venture fund bets on. The venture fund, launched in September 2022, targets smaller investors who can access the venture capital market through it with as little as $500. The xAI startup is reportedly planning to build a supercomputer to power the next version of its AI chatbot Grok.
Persons: Catherine Wood, Musk, Wood, Tesla Organizations: ARK Investment Management LLC, ARK Venture Fund, SpaceX, X Corp, Twitter, Microsoft, Google, Innovation Locations: Miami , Florida, U.S, Elon Musk's, xAI, St . Petersburg , Florida, OpenAI
DeSantis and Good later endorsed Trump, who will formally receive the GOP's presidential nomination in July. Advertisement"Thank you President Trump for endorsing my campaign for Congress!" Before Trump endorsed McGuire, Good had gone to great lengths to appear close to the former president. Trump's most successful revenge tour has been against the 10 House Republicans who voted to impeach him for inciting the January 6, 2021, Capitol riot. Last month, Trump endorsed a primary challenger to one of those two, Rep. Dan Newhouse of Washington.
Persons: , Donald Trump, Bob Good, Trump, Ron DeSantis, DeSantis, Sen, John McGuire, McGuire, Good, Matt Gaetz's, Kevin McCarthy, McCarthy, Tony Gonzales, Chip Roy, Texas, Roy, Dan Newhouse Organizations: Service, Truth, Business, Caucus, Florida, Save, Trump, Republicans, Republican, Democrats, GOP, Capitol, Dan Newhouse of Washington Locations: Virginia, New York City, Manhattan, Florida, Tony Gonzales of Texas, Dan Newhouse of
Jay Furman, a retired Navy officer, has won the Republican nomination to challenge embattled Representative Henry Cuellar of South Texas in November, according to The Associated Press. Mr. Furman defeated his challenger, Lazaro Garza Jr., a rancher, in a runoff after the two emerged as the top vote-getters in a crowded March primary. Mr. Cuellar, a centrist Democrat, is still largely expected to win re-election in Texas’ 28th Congressional District. But the terrain has become somewhat more favorable for Republicans after Mr. Cuellar was indicted this month on federal bribery and money-laundering charges. In his district, which stretches from his hometown, Laredo, and the U.S. southern border to the eastern outskirts of San Antonio, Mr. Cuellar is considered an institution.
Persons: Jay Furman, Henry Cuellar, Furman, Lazaro Garza Jr, Cuellar, Imelda Cuellar, Donald J, Trump, , Biden Organizations: Navy, Republican, Associated Press, Democrat, Congressional Locations: Henry Cuellar of South Texas, Texas, Mexican, Azerbaijan, Laredo, U.S, San Antonio
The speaker of the Texas House, Dade Phelan, won renomination in a runoff on Tuesday, surviving a bruising Republican primary challenge from a party activist and first-time candidate who was backed by former President Donald J. Trump and his Texas supporters. The race, in a southeast Texas district that includes part of the city of Beaumont, was a bitter political showdown among some of the most powerful players in Texas politics, and was likely to have been one of the most expensive ever for a Texas House seat. Millions poured in to the campaigns during the primary, including large donations from West Texas oil and gas billionaires and out-of-state school-choice advocates who backed the challenger, David Covey. For his part, Mr. Phelan had help from deep-pocketed donors like Miriam Adelson, the Las Vegas casino magnate and widow of the Republican megadonor Sheldon Adelson. Covey, a technical adviser to the oil and gas industry who has described himself as a “very committed Christian and a conservative,” led Mr. Phelan in the first round of voting in March, when neither candidate won a majority.
Persons: Dade Phelan, Donald J, Trump, David Covey, Phelan, Miriam Adelson, Republican megadonor Sheldon Adelson, . Covey, Christian, Organizations: Texas House, Las, Republican Locations: Texas, Beaumont, West Texas, Las Vegas
President Biden paid tribute to veterans who died in America’s wars at Arlington National Cemetery on Monday, hailing them as “a link in the chain of honor” who deserve recognition for protecting the nation’s democracy. “Freedom has never been guaranteed,” Mr. Biden said in a nine-minute Memorial Day address, moments after placing a wreath at the Tomb of the Unknowns. Defend it in battle between autocracy and democracy,” he said of the nation’s veterans. “Our democracy is more than just a system of government. It’s the very soul of America.”His somber message was a sharp contrast to that of former President Donald J. Trump, his challenger for re-election this year, who posted an angry and incendiary Memorial Day message on his social media site.
Persons: Biden, , Mr, Donald J, Trump Organizations: Arlington National Cemetery Locations: America
The protest vote against Mr. Biden there was nearly double that against Mr. Trump, who won about 85 percent of the vote in the Republican primary. Turnout also plunged in the Democratic primary, with about 184,000 votes tallied, compared with the more than 537,000 recorded in 2020. In neighboring Washington State, the uncommitted ballot option got nearly 10 percent of the vote in the Democratic primary in late March. Image Fani Willis, the Fulton County district attorney, celebrated her re-election win in the Democratic primary on Tuesday in Atlanta. The Democratic primary for district attorney in Fulton County, Ga., ended in a remarkable blowout.
Persons: Vince Fong, Kevin McCarthy, Fong, McCarthy, — Mike Boudreaux, Biden, Donald J, Mr, Trump, Fani Willis, Brynn Anderson, Willis, Christian Wise Smith, Scott McAfee, Trump’s, Judge McAfee, McAfee’s, Jamie McLeod, Skinner, Janelle Bynum, Ms, Bynum, Tina Kotek, Lori Chavez, DeRemer, Mike Schmidt, Nathan Vasquez, Vasquez, Schmidt, Schmidt’s Organizations: Republican, Trump, Democratic, Mr, Associated, Georgia, Oregon’s Fifth Congressional Locations: California, Tulare County, Georgia , Idaho , Kentucky, Oregon, Kentucky, In Oregon, Gaza, Washington State, Fulton County, Atlanta ., Georgia, Fulton County ,, Multnomah County, Portland
Fulton County District Attorney Primary Election Results
  + stars: | 2024-05-21 | by ( ) www.nytimes.com   time to read: 1 min
Fani T. Willis, the lead prosecutor in the Georgia criminal case against Donald J. Trump, is running for a second term as Fulton County district attorney. Despite her missteps in handling the case, Ms. Willis is considered to be the favorite in the race. Her challenger is Christian Wise Smith, a former prosecutor who has positioned himself as the more progressive choice.
Persons: Willis, Donald J, Trump, Christian Wise Smith, Read Locations: Georgia, Fulton County
Voters are headed to the polls on Tuesday in several states. Vince Fong, a state lawmaker and onetime aide to Mr. McCarthy, had a significant lead in the primary. Georgia, Kentucky, Oregon and Idaho have primary contests today. In Kentucky and Oregon, voters will also weigh in on the presidential primaries, raising the possibility of protest votes against both President Biden and former President Donald J. Trump. Fani T. Willis, the Fulton County district attorney, will face a challenger in the Democratic primary for her position.
Persons: Kevin McCarthy, Vince Fong, Mr, McCarthy, Mike Boudreaux, Biden, Donald J, Fani Willis, Fani, Willis, Christian Wise Smith, Scott McAfee, Trump’s, Robert Patillo II, Tiffani Johnson Organizations: Congressional District, Trump, Democratic Locations: Tulare County, Georgia, Kentucky, Oregon, Idaho, Fulton County
Independent U.S. presidential candidate Robert F. Kennedy Jr. hikes in the Santa Monica Mountains in Los Angeles on March 18, 2024. "My administration will support the Ape retail rebellion and enact aggressive Wall Street reforms," Kennedy Jr. wrote in a social media post. The apes were motivated in part by a desire to buck bearish Wall Street analysts' grim assessments of the companies' long-term prospects. Kennedy Jr. is actively courting undecided voters with a fringe political brand that could appeal to some anti-establishment meme stock investors. Kennedy Jr. has made obscure statements about his investment record.
Persons: Robert F, Kennedy Jr, Joe Biden, Donald Trump, Kennedy, Trump's, Trump Organizations: Independent U.S, GameStop, AMC Locations: Santa Monica, Los Angeles, bitcoin
Fulton County Superior Court Judge Election Results
  + stars: | 2024-05-21 | by ( ) www.nytimes.com   time to read: 1 min
Scott McAfee, the judge overseeing the Georgia criminal case against Donald J. Trump and 14 of his allies, is facing off against a long-shot opponent in this nonpartisan election. Judge McAfee has vastly outraised the challenger, Robert Patillo II. And he has been endorsed by both Gov. Brian Kemp, a Republican, and former Gov. Roy Barnes, a Democrat.
Persons: Scott McAfee, Donald J, Trump, Judge McAfee, Robert Patillo II, Brian Kemp, Roy Barnes Organizations: Gov, Republican, Democrat Locations: Georgia
President Biden will deliver a commencement speech to the graduates of Morehouse College on Sunday, an appearance that will put him directly in front of 500-plus young men who represent a slice of the electorate that is drifting away from him and toward his challenger, former President Donald J. Trump. On Saturday, Mr. Biden gave a preview of sorts to a group of supporters, many of them Morehouse alumni, shortly after his arrival in Atlanta. He told them that the election was not about two candidates but about a choice between protecting democracy and letting its ideals continue to backslide. It’s about the alternative as well,” Mr. Biden said to the audience at Mary Mac’s Tea Room, a local business owned by a Morehouse alumnus. “My opponent’s not a good loser, but he is a loser.
Persons: Biden, Donald J, Trump, “ It’s, Mr, Mary Mac’s, Organizations: Morehouse College, Morehouse Locations: Georgia, Atlanta
Kuniskis will be replaced by Chrysler brand CEO Christine Feuell, who will lead Ram in addition to Chrysler, and Matt McAlear, who will be promoted from Dodge's sales lead to brand CEO and a member of Stellantis' top executive team. DETROIT – Stellantis ' Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly 32-year career with the automaker and its predecessors, the company announced Friday. I wish him well in his retirement," Stellantis CEO Carlos Tavares said in a release. "I am confident that Chris will continue the work of Tim in leading the iconic Ram brand. Matt will bring a fresh perspective, while continuing to draw on the heritage of our iconic Dodge brand and leading the transition of the brand toward a sustainable future."
Persons: Christine Feuell, Ram, Matt McAlear, Dodge, Tim Kuniskis, Tim, Carlos Tavares, Chris, Matt, Sergio Marchionne, Kuniskis, Mark Stewart Organizations: Chrysler, Challenger, Dodge, DETROIT, U.S, Fiat Chrysler, French, PSA Groupe, Goodyear Tire Locations: American, North America, Durango, South America, Asia, Pacific, China
These tiny EVs are making a big impact
  + stars: | 2024-05-17 | by ( Tom Carter | ) www.businessinsider.com   time to read: +4 min
Here are some of the tiny EVs making a splash in Asia and Europe. AdvertisementChief among those is the Seagull, a tiny EV that can go 305 km on a single charge and costs $11,000. SOPA Images/Getty ImagesJapan has long had a soft spot for tiny EVs, known as Kei cars — and the Nissan Sakura is one of the most popular. BITechnically speaking, the Citroen Ami isn't an electric car at all, but an "electric quadricycle." The tiny microcar has been on sale in Europe since 2021, with a UK launch mooted for later this year.
Persons: , Nissan Sakura, Tesla, Aly Song, Reuters BYD, Elon, HECTOR RETAMAL, Citroen Ami, Citroen Ami isn't, Ami, Merlin Ouboter Organizations: Service, Nissan, Tesla, Ford, Business, Reuters, SAIC, General Motors, Japan, Citroen, BI, Getty Locations: China, Japan, Europe, Asia, Guang, Shanghai, France, London, Swiss
President Donald Trump and Democratic presidential candidate Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22. President Joe Biden on Wednesday challenged former Donald Trump to two head-to-head debates before the November election, with several special conditions. Both proposed showdowns would be held without the involvement of the non-partisan commission that typically organizes presidential debates. "Just tell me when, I'll be there," wrote Trump. " During the 2020 debates, Biden and Trump regularly broke out into shouting matches as they each tried to get a word in edgewise.
Persons: Donald Trump, Joe Biden, Biden, Trump, Donald, Jen O'Malley Dillon, O'Malley Dillon, Trump's, Robert Kennedy Jr, doesn't Organizations: Democratic, Belmont University, Wednesday, Republican, CNN, Republican National Convention, Democratic National Convention, White, New York Times, American People Locations: Nashville , Tennessee, Democratic, York, Pennsylvania, Michigan, Wisconsin, United States
De-dollarization efforts won't do much to dethrone the dollar, Morgan Stanley said. There are no true alternatives to holding the US dollar at the moment, Morgan Stanley strategists said. AdvertisementThe dollar's status as the top currency of central banks and for international trade probably isn't fading soon, according to Morgan Stanley. "Now, reasonable people can disagree about whether cryptocurrencies are going to appreciate or depreciate, but I'd argue that the best outcome for a dominant currency is neither." Displacing a dominant currency is something that happens over the course of decades, economists previously told Business Insider, as it takes time for people to shift to other currencies once a dominant currency is recognized as "safe."
Persons: Morgan Stanley, , James Lord, Michael Zezas, That's, Lord, there's, Zezas, Crypto, David Adams, Morgan Stanley's Organizations: Service, Rivals, greenback, Business Locations: Beijing, China
President Biden has argued for years that he is the politician to restore normalcy to American politics. But for almost as long, a subset of American voters, frustrated by everything from the economy to immigration policy, have argued that they do not want his version of it. And few believed that Mr. Biden would make even minor changes that would be good for the country. The view from the Biden campaign is this: There is still time to sell Mr. Biden’s economic and policy accomplishments, and officials are working to connect with the voters who will decide the election. There is still time to draw a character contrast between Mr. Biden and his predecessor and challenger, Donald J. Trump.
Persons: Biden, Mr, Donald J, Trump Organizations: New York Times, Philadelphia Inquirer, Siena College Locations: Washington
By December, he was standing with hunger strikers outside the White House, upping his criticism of the actions in Gaza. Shelley Mayer, a state senator whose district largely overlaps with the congressional district, initially backed Bowman. New York state Sen. Shelley Mayer at a state Senate Judiciary Committee hearing in April 2023, in Albany. Explaining how his response to the Israel-Hamas war fits his district, Bowman cited a poll conducted by his campaign that he claimed showed an overwhelming majority in his district support a permanent ceasefire. The Democratic Majority for Israel (DMFI) has endorsed Latimer and is expecting to spend to boost him.
Persons: Jamaal Bowman’s, Manu Raju ”, Jamaal Bowman, Israel’s, Israel, Bowman, upping, He’s, Benjamin Netanyahu, Joe Biden, Netanyahu, Shelley Mayer, George Latimer, Sen, Hans Pennink, ” Mayer, , , We’ve, ” Bowman, Rashida Tlaib, Jonathan Jackson, Cori Bush, Nathan Howard, Biden, Chuck Schumer, , New Yorker, Usamah Andrabi, Jeenah, Latimer, Jimmy Carter, Hakeem Jeffries, Kevin Riley, Riley, Israel doesn’t, ” Latimer, he’s, he’d, , ’ ” Bowman, Amy Paulin, it’s, ” Paulin, Jamaal, Mandel Ngan, Latimer hasn’t, Patrick Dorton, Jeremy Ben, Ami, Ben, ” Ben, Steny Hoyer, Hoyer, ” Hoyer Organizations: CNN, Democrat, United Nations, J, New York Democrats, Democratic, Westchester, Republican, Capitol, Fox News, , Reps, House, Iron, Democratic Socialists, America’s, Michigan Rep, Palestinian, Israel, American Israel Public Affairs Committee, New, George Latimer voters, Democrats, Washington Post, House Democratic, Conservative, Getty, Jewish Voters, Empowerment, Black, AIPAC, PAC United Democracy, Democratic Party, ” Maryland Locations: Gaza, Bronx, Westchester County, That’s, New York, Washington, Israel, Washington groaned, George Latimer . New York, Albany, Palestine, Palestinian, York, Palestinian American, , White Plains , New York, Yonkers, Rye, Brooklyn, Westchester, Scarsdale, Washington ,, AFP
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