Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Data Shows US Wages Falling at a 'Striking' Pace
Data Shows , US Wages Falling , at a 'Striking' Pace.
Fox News reports that wage growth
in the United States has slowed
significantly over the past year.
.
According to new data from Indeed,
wage growth is beginning
to near pre-pandemic levels.
.
Indeed's wage tracker showed that salaries have had
a marked drop since January 2022, suggesting that
employers are seeing less competition for new hires.
The pace of deceleration
is striking.
Posted wage growth
has fallen by almost 3 percentage
points over the past year, Nick Bunker, Indeed labor economist, via Fox News.
Fox News reports that the most pronounced
deceleration was found in low-wage sectors.
.
Given the huge run-up in posted
wages for those sectors, wage growth
is still above its pre-pandemic pace.
How long this will last is uncertain, Nick Bunker, Indeed labor economist, via Fox News.
After remaining historically tight throughout the last
year, the labor market is expected to continue slowing
in the coming months amid elevated interest rates.
Since March of 2022, the Federal Reserve has increased interest rates 11 times in an attempt to slow down inflation and cool the labor market.
Since March of 2022, the Federal Reserve has increased interest rates 11 times in an attempt to slow down inflation and cool the labor market.
In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs.
.
In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs.
.
In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs.
.
Despite this, job growth has
remained resilient, with employers
adding 275,000 jobs in February.
.
At the same time, Labor Department
data shows that the unemployment
rate for the month also rose to 3.9%.
Fox News reporter Peter Doocy and White House Press Secretary Karine Jean-Pierre clashed over President Biden's plan to limit events after 8 PM. Doocy sarcastically questioned late-night decision-making, while Jean-Pierre insisted Biden was joking. The exchange highlighted tensions between the press and the White House. Biden's campaign team defended his schedule, comparing it to previous presidents and contrasting it with Trump's habits.
#FoxNews #PeterDoocy #KarineJeanPierre #WhiteHouse #WhiteHousePressBrief #WhiteHousenews #USnews #Biden #JoeBiden #Oneindia #Oneindianews
~HT.178~PR.320~ED.101~GR.124~
Spinach Recalled , After Testing Positive for Listeria.
Over 40 spinach products are being recalled after testing positive for the bacterial illness, according to federal health officials. .
The recall for "Fresh Spinach" was issued by
Solata Foods LLC in New York, Fox News reports. .
The spinach was tested by the New York State Department
of Agriculture and Market Food Inspectors.
Listeria was found in a "9-ounce package of Bogopa fresh spinach," Fox News reports. .
Production of the product has been halted.
Consumers are being advised to
return the affected product for a refund. .
No illnesses have been reported yet.
People who consume listeria can
develop listeriosis, which ranges in
severity and can last up to several weeks.
Symptoms include "fever, muscle aches, nausea, vomiting, and diarrhea," Fox News reports.
Serious cases can result in "headache, stiff neck, confusion, loss of balance and convulsions," Fox News reports.
The bacterial infection can be fatal in
children and other susceptible people.
Credit: Wibbitz Top Stories Duration: 01:31Published
Boycotts Lead SXSW to, Drop US Military Sponsors, for 2025 Festival.
On June 26, South by Southwest (SXSW) announced that the
United States Army would no longer be sponsoring the
2025 festival after boycotts by artists and panelists occurred in 2024.
On June 26, South by Southwest (SXSW) announced that the
United States Army would no longer be sponsoring the
2025 festival after boycotts by artists and panelists occurred in 2024.
After careful consideration,
we are revising our sponsorship
model. As a result, the U.S. Army,
and companies who engage in
weapons manufacturing, will
not be sponsors of SXSW 2025, SXSW statement, via Fox News.
Fox News reports that over 80 artists and panelists pulled
out of the 2024 festival "in solidarity with Palestine,"
according to the Austin for Palestine coalition.
Fox News reports that over 80 artists and panelists pulled
out of the 2024 festival "in solidarity with Palestine,"
according to the Austin for Palestine coalition.
The group called for a boycott of SXSW
over the organization's ties to the U.S. military
and weapons-manufacturing companies. .
In 2024, the U.S. Army, Defense Department, , Raytheon and L3Harris , all sponsored the SXSW festival.
In 2024, the U.S. Army, Defense Department, , Raytheon and L3Harris , all sponsored the SXSW festival.
We appreciated the opportunity
to join South by Southwest in 2024.
With U.S. Army Futures Command
headquartered in Austin, we value
any opportunity to join with our
community to ignite discovery
and make new connections. , Lt. Col. Jamie Dobson, U.S. Army Futures Command Spokesperson, via Fox News Digital.
The Army will continue to
seek opportunities to meet
technology innovators and
leaders, explore new ideas
and insights, and create dynamic
industry partnerships because
tomorrow is worth protecting. , Lt. Col. Jamie Dobson, U.S. Army Futures Command Spokesperson, via Fox News Digital.
Bands and artists participating in the boycott,
including Squirrel Flower, Scowl and Okay Shalom,
explained why they protested the 2024 festival. .
There are many ways SXSW is harmful
to working musicians, but I am pulling
out specifically because of the fact
that SXSW is platforming defense
contractors including Raytheon
subsidiaries as well as the U.S. Army,
a main sponsor of the festival, Squirrel Flower, also known as
Ella Williams, via Instagram.
Genocide profiteers like Raytheon
supply weapons to the IDF, paid for
by our taxes. A music festival should
not include war profiteers. I refuse
to be complicit in this and withdrawl
[sic] my art and labor in protest, Squirrel Flower, also known as
Ella Williams, via Instagram.
Genocide profiteers like Raytheon
supply weapons to the IDF, paid for
by our taxes. A music festival should
not include war profiteers. I refuse
to be complicit in this and withdrawl
[sic] my art and labor in protest, Squirrel Flower, also known as
Ella Williams, via Instagram
Credit: Wibbitz Top Stories Duration: 01:31Published
McDonaldâs Ends , AI Drive-Thru Test With IBM.
Fox News reports that McDonald's has decided to end its artificial intelligence drive-thru program. .
According to 'Restaurant Business,'
McDonald's Chief Restaurant Officer Mason Smoot said
the decision was made "after a thoughtful review.".
McDonald's has decided to end
our current partnership with IBM
on AOT [automated order taking]
and the technology will be shut
off in all restaurants currently testing
it no later than July 26, 2024, Mason Smoot, McDonald's Chief
Restaurant Officer, via Fox News.
The program, which started
in 2021, saw over 100 McDonald's
locations help test the new technology.
While there have been successes
to date, we feel there is an
opportunity to explore voice
ordering solutions more broadly, Mason Smoot, McDonald's Chief
Restaurant Officer, via Fox News.
According to Smoot, McDonald's will make
"an informed decision on a future voice
ordering solution by the end of the year." .
The goal of the test was
to determine if an automated
voice ordering solution could
simplify operations for crew
and create a faster, improved
experience for our fans, McDonald's statement, via Fox News.
The company echoed Smoot's sentiment in
a statement to Fox News, while also addressing
the future of AI programs at McDonald's.
After thoughtful review, McDonaldâs
has decided to end our current global
partnership with IBM on AOT beyond
this year. IBM remains a trusted
partner and we will still utilize
many of their products
across our global system, McDonald's statement, via Fox News.
We see tremendous opportunity in
advancing our restaurant technology
and will continue to evaluate
long-term, scalable solutions that
will help us make an informed decision
on a future voice ordering solution
by the end of the year, McDonald's statement, via Fox News.
We see tremendous opportunity in
advancing our restaurant technology
and will continue to evaluate
long-term, scalable solutions that
will help us make an informed decision
on a future voice ordering solution
by the end of the year, McDonald's statement, via Fox News
Credit: Wibbitz Top Stories Duration: 01:30Published
George Strait Sets New , US Concert Attendance Record.
Strait played in front of 110,905 fans at Texas A&M's Kyle Field on June 15, Fox News reports. .
The feat broke the all-time concert attendance record in the U.S. which was previously held by the Grateful Dead. .
The feat broke the all-time concert attendance record in the U.S. which was previously held by the Grateful Dead. .
In 1977, the Grateful Dead played to
107,019 fans at New Jersey's Raceway Park. .
Breaking records isn't anything new for Strait.
He has the most No. 1 singles in any music genre, and he's the only musician to get a top 10 hit every year for the past three decades, Fox News reports. .
He's also had the most No. 1 country albums, selling over 120 million records globally.
Among those in attendance at Kyle Field on
June 15 were Gov. Greg Abbott and Sen. Ted Cruz.
Among those in attendance at Kyle Field on
June 15 were Gov. Greg Abbott and Sen. Ted Cruz
Credit: Wibbitz Top Stories Duration: 01:30Published
US Tech Firm to Pay $38,000 in Penalties , After Posting Job Ad for âWhites Onlyâ.
In March 2023, Virginia tech firm Arthur Grand Technologies posted a discriminating job ad on Indeed.com, 'The Guardian' reports. .
The ad read, "Only U.S. Born Citizens [white] who are local within 60 miles from Dallas.".
"[Don't share with candidates]," it added.
The ad quickly found attention on
social media and via numerous news outlets.
Within two months of being posted, the Department of Justice's civil rights division launched an investigation into the company. .
On May 23, Arthur Grand Technologies
agreed to pay over $38,000 in penalties.
$7,500 will go to the U.S. Treasury,
and $31,000 will be awarded to those
who filed discrimination complaints.
$7,500 will go to the U.S. Treasury,
and $31,000 will be awarded to those
who filed discrimination complaints.
The company will also be required to
"train its workers on the Immigration and Nationality Act," 'The Guardian' reports. .
Arthur Grand CEO Sheik Rahmathullah "vehemently denies any guilt or wrongdoing in relation to the discriminatory job posting," instead blaming a disgruntled employee.
Upon discovering this, we took
immediate and decisive action to
ensure that this type of incident
will never happen again, including
the immediate termination of
the responsible employee, Arthur Grand CEO Sheik Rahmathullah, via statement
Credit: Wibbitz Top Stories Duration: 01:30Published
Amazon Reaches $2 Trillion , in Stock Market Value.
On June 26, Amazon became the 5th American company to join the $2 trillion club, NPR reports. .
Amazon shares ended the day up nearly 4%, giving the company a $2.01 trillion stock market valuation. .
Within the past year,
Amazon's stock has gained 52%.
Part of that gain can be attributed
to investors' enthusiasm about the
company's AI endeavors, NPR reports. .
A big part of the valuation boost has
been cloud and AI. Amazon is going to
be a major player in the AI revolution, Dan Ives, Wedbush tech analyst, via NPR.
Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .
Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .
Amazon CEO Andy Jassy recently said that
AI has rejuvenated the growth of AWS.
The cloud computing unit is reportedly on pace to bring in $100 billion in annual revenue.
Amazon recently invested in Anthropic, a California
AI company, "to develop so-called foundation models
that underpin generative AI systems," NPR reports. .
Amazon also makes its own AI chips.
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia.
Credit: Wibbitz Top Stories Duration: 01:30Published
Amazon Prime Day 2024 , Dates Announced.
This year, Amazon Prime Day will fall
on July 16 and 17, Engadget reports. .
It will begin at 3:01 a.m. ET on July 16.
Thousands of deals on electronics, household items, fashion and more will be available to members only. .
Historically, Amazon Prime Day
has helped the retail giant to gain
more subscribers, Engadget reports. .
However, the price of a subscription has nearly doubled since 2005, when the service debuted. .
At launch, a Prime subscription was $79.
Now it will cost you $139.
Although July's Prime Day has been Amazon's
most significant shopping event for a while now.
the company has also offered a "fall Prime Day" in recent years, Engadget reports. .
It's likely that a similar event will return in the fall this year, but those dates have yet to be announced.
Credit: Wibbitz Top Stories Duration: 01:30Published
'The Boys' are heading toward their final fight. Season five of the Amazon Prime Video show will be its last. Showrunner Eric Kripke shared the news on social media. He wrote, "Season 4 premiere week is a good time to announce: Season 5 will be the final season! Always my plan, I just had to be cagey till I got the final OK from Vought. Thrilled to bring the story to a gory, epic, moist climax."
Credit: The Hollywood Reporter Duration: 01:19Published
Sarayu Blue chats with THR at the 'Inside Out 2' carpet and shares how she taps into joy. Plus, she reveals which emotion drives her mind and talks 'Expats' and the fan response with the Amazon show.
Credit: The Hollywood Reporter Duration: 03:03Published
YouTube Leaks Spark Concerns , About Google Employee Access , to Unpublished Videos.
Last week, PlayStation's lineup for the
State of Play event was leaked shortly after
the event was scheduled to appear on YouTube.
Last week, PlayStation's lineup for the
State of Play event was leaked shortly after
the event was scheduled to appear on YouTube.
The Verge reports that the leak has
contributed to concerns regarding Google
employees' access to videos before they go live.
The issue was recently highlighted
in reports by Insider Gaming
and 404 Media.
One of the leaks, which was noted by Tom Henderson
of Insider Gaming, involved KSI's 2022 attempt to
give away over $10,000 in Amazon gift cards.
However, an internal YouTube investigation was started
after KSI realized that all of the gift card codes had
already been redeemed prior to the video going live.
However, an internal YouTube investigation was started
after KSI realized that all of the gift card codes had
already been redeemed prior to the video going live.
A similar internal investigation
was opened after the trailer
for GTA VI leaked online. .
According to a report by 404 Media, a Google
contractor was responsible for the 2017 Nintendo
leak that revealed an early look at 'Yoshi's Crafted World.'.
The Verge reports that an image
of the game's trailer was posted to
Reddit just ahead of its big reveal at E3. .
The post contained an âadmin.youtube.comâ URL,
which would suggest that an employee had
accessed the video prior to its public release.
According to a database entry reported on by
404 Media, Google confirmed that an employee
had gained access to and deliberately leaked the video.
Credit: Wibbitz Top Stories Duration: 01:31Published
New US Home Construction , Sinks to Slowest Pace in 4 Years.
Government data released on June 20 indicates that new home construction in America dropped in May to the slowest pace since June 2020, Yahoo Finance reports. .
Housing starts dropped 5.5%,
and building permits dipped 3.8%.
Home completions also fell to the lowest amount since September 2022.
High interest rates, set by the Fed to help tame inflation, have resulted in high mortgage rates.
But recent data has suggested that inflation has started to cool, which may give the Fed the confidence it needs to lower rates.
The weakest U.S. housing starts
since the pandemic-led shutdowns
are fairly convincing evidence of
restrictive monetary policy. , Sal Guatieri, senior economist at BMO Capital Markets, via note.
While a growing population and
workforce are providing some support,
US home builders wonât become
busier until borrowing costs fall, Sal Guatieri, senior economist at BMO Capital Markets, via note.
Meanwhile, other data released on June 20 showed that first-time applications for unemployment benefits dropped last week.
However, continuing claims rose
for a seventh consecutive week
Credit: Wibbitz Top Stories Duration: 01:30Published
Mortgage Rates Continue , to Fall, Raising Hopes of the , Fed Cutting Rates.
ABC reports that borrowing costs for
home loans continued to ease this week,
with the average rate on a 30-year mortgage
falling to its lowest level since April.
According to mortgage buyer
Freddie Mac, the rate fell from
6.95% to 6.87% last week. .
That figure is still significantly higher than
what the rate was during the same time last year,
which was at an average of 6.67%. .
15-year fixed-rate mortgages
also eased, falling from
6.17% last week to 6.13%. .
During the same time last year,
the average rate was at 6.03%.
Those higher rates can add hundreds of dollars
to monthly costs for borrowers, which limits the
purchasing options of potential homebuyers.
Mortgage rates fell for
the third straight week
following signs of cooling
inflation and market
expectations of a
future Fed rate cut, Sam Khater, Freddie Macâs chief economist, via ABC.
ABC reports that rates are influenced by a number
of factors, including the Federal Reserve's interest
rate policy and the 10-year Treasury yield.
ABC reports that rates are influenced by a number
of factors, including the Federal Reserve's interest
rate policy and the 10-year Treasury yield.
Due to yields also beginning to ease, the Federal
Reserve could start to drop its main interest rate
after hiking it up to the highest level in over 20 years.
Last week, Fed officials suggested that they would make
just one cut to their benchmark interest rate in 2024,
down from previous projections of three cuts for the year.
Credit: Wibbitz Top Stories Duration: 01:31Published
Surge of New Applications for , Unemployment Benefits , May Signal Cooling Job Market.
Last week, the number of people in the
United States filing for unemployment benefits
reached the highest level in ten months last week. .
ABC reports that the news comes as a potential
sign that the U.S. labor market may be slowing
under the burden of high interest rates. .
The week ending June 8 saw
applications for jobless benefits
rise by 13,000 to reach 242,000. .
According to Labor Department
data, that is up from 229,000 new
applications the week before.
The number also represents the highest
number of new applications since August
of 2023, while also being significantly higher
than the 225,000 new claims forecast.
ABC reports that weekly unemployment claims have
lingered at historically low levels since millions of
jobs disappeared with the COVID-19 pandemic.
ABC reports that weekly unemployment claims have
lingered at historically low levels since millions of
jobs disappeared with the COVID-19 pandemic.
Since March of 2022, the Federal Reserve has raised
benchmark rates 11 times in an attempt to reign in
inflation which has risen to a four-decade high.
While the latest data suggests that consumer
inflation cooled in May, the Federal Reserve
has decided to leave rates at a 23-year high.
According to Fed Chair Jerome Powell, officials
are waiting for more evidence that prices
are reaching their target of two percent.
ABC reports that a total of 1.82 million
Americans were collecting unemployment
benefits in the week ending June 1. .
ABC reports that a total of 1.82 million
Americans were collecting unemployment
benefits in the week ending June 1.
Credit: Wibbitz Top Stories Duration: 01:30Published
Fed Holds Steady , With Interest Rates at , 2-Decade High.
On June 12, the Federal Reserve chose to hold
interest rates at a two-decade high while it
waits to see more signs of inflation going down.
'The Guardian' reports that officials at the United States
central bank expect to make a single rate cut
in 2024, according to the latest projections.
In previous projections,
policymakers expected the Fed
to make three cuts in 2024. .
At the latest meeting, the Fed chose to
keep rates at the same place they've been
for nearly a year, between 5.25% and 5.5%.
Despite recent data suggesting that inflation
may be easing, the Fed clearly doesn't see it moving
at a pace that would lead it to start cutting rates.
In May, inflation cooled slightly across the U.S.,
according to the latest consumer price index, however
consumers remain frustrated over skyrocketing prices.
In May, inflation cooled slightly across the U.S.,
according to the latest consumer price index, however
consumers remain frustrated over skyrocketing prices.
'The Guardian' reports that price growth has
slowed significantly since surging over 9%
in 2022, its highest level in a generation.
'The Guardian' reports that price growth has
slowed significantly since surging over 9%
in 2022, its highest level in a generation.
May saw prices for air fare and fuel go
down, inflation for grocery prices remained
flat, and shelter costs continued to rise.
May saw prices for air fare and fuel go
down, inflation for grocery prices remained
flat, and shelter costs continued to rise.
Overall, prices remained unchanged on a month-to-month
basis as the Fed emphasized that it would wait for
inflation to hit its previously-stated target of 2%.
The committee does not expect
it will be appropriate to reduce
the target range until it has
gained greater confidence
that inflation is moving
sustainably toward 2%, Federal Reserve statement, via Fox News
Credit: Wibbitz Top Stories Duration: 01:31Published
European Central Bank , Cuts Interest Rates.
The action was confirmed on June 6 at
the central bank's meeting, CNBC reports. .
The European Central Bank's (ECB) key
rate will go from 4% down to 3.75%.
The ECB Governing Council issued a statement.
Based on an updated assessment of
the inflation outlook, the dynamics of
underlying inflation and the strength
of monetary policy transmission, , ECB Governing Council, via statement.
... it is now appropriate to
moderate the degree of monetary
policy restriction after nine months
of holding rates steady, ECB Governing Council, via statement.
This is the first time that interest rates
have been cut since September 2019. .
Updated macroeconomic projections indicate that 2024's "annual average headline inflation outlook" has been increased from 2.3% to 2.5%, CNBC reports.
For 2025, it was raised from 2% to 2.2%.
The projection for 2026 stayed at 1.9%.
The ECB's next meeting is in July, where another rate cut is unlikely, experts say.
The slight upgrade to the inflation forecast
was to be expected, inflation has been printing
a little bit hotter than markets were expecting,
but in terms of the timing of the next cut
Iâd still be looking to September, Dean Turner, chief euro zone economist at
UBS Global Wealth Management, to CNBC.
Canada also cut interest rates on June 5, while Sweden and Switzerland cut rates earlier this year.
Canada also cut interest rates on June 5, while Sweden and Switzerland cut rates earlier this year.
Canada also cut interest rates on June 5, while Sweden and Switzerland cut rates earlier this year.
The U.S. Federal Reserve continues
to battle America's rate of inflation.
Credit: Wibbitz Top Stories Duration: 01:31Published
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