Connect with us

Business

US job openings slip to 7.4 million, but labor market remains resilient

WASHINGTON – U.S. Job openings dropped slightly in June. However, the labor market showed resilience in spite of an economic shock caused by the fighting in Iran and closure of the Strait of Hormuz.
Labor Department reported that there were 7.36 millions vacancies, down from the 7.54 million in may. These numbers are in line with what economists expected.
The number of layoffs remained unchanged at 1.8 millions, but the number of workers quitting — as a signal of their confidence — increased slightly.
Job growth in the U.S. has been strong despite an increase in energy costs caused by conflict in Iran. The market is recovering from its 2025 low.
Companies, government agencies, and non-profits have created an average of 92,000 new jobs per month so far in 2018. This is an increase from the fewer than 10000 jobs a month in last year, which was the lowest outside of a recession for over a decade. Employers held back on hiring due to high interest rates and economic uncertainty brought about by Donald Trump.
The Labor Department is set to release its July jobs report on Friday. It will show a 100,000-job increase, up from the 57,000 that were reported in June. According to FactSet’s survey of data analysts, the unemployment rate should have been at 4.2%.
100 000 new jobs per month in the past would be considered mediocre. Trump’s crackdown on immigration and Baby Boomers retiring means that there are fewer workers competing for jobs. The economy does not need to create as many jobs as before in order to prevent the unemployment rate rising. Some economists think the “breakeven” rate is as low as zero.

Continue Reading

Business

Kalshi ordered to stop most operations in WA

A King County Judge ordered that Kalshi must cease most of its operations in Washington before the middle next week. The judge found that Kalshi is operating a gambling business that violates state law.
In March, Attorney General Nick Brown sued Kalshi, accusing it of breaking Washington’s anti-gambling law. He used the advertising for the company, which boasted about allowing people to bet “on everything”.
In his ruling on Thursday, King County Superior Court judge John McHale stated that “Kalshi is an online gambling platform.” He also noted that it was likely the company violated multiple state laws.
McHale had ruled previously that the company probably violates Washington laws, but had yet to specify when or how long it should cease its operations.
In March after Brown’s lawsuit, Kalshi spokeswoman Elisabeth Diana stated that “other courts have recognized Kalshi as a nationwide, regulated exchange for actual events and is under exclusive federal jurisdiction.” It’s completely different than what sportsbooks or casinos regulated by state law offer to their customers. “We are confident of our legal arguments.”
Kalshi says that the Commodity Futures Trading Commission is responsible for overseeing it. Under President Donald Trump’s leadership, the CFTC has taken a favorable stance towards the company, and Polymarket its biggest competitor. The CFTC is suing nine states for their attempts to regulate these companies.
Last spring, CFTC Chairman Mike Selig warned states that they would be seen in court if they tried to regulate companies.
Prediction markets are a growing phenomenon that will benefit the Trump family. Donald Trump Jr. serves as a strategist for both Kalshi, Inc. and Polymarket. His venture capital fund invested in Polymarket prior to its planned U.S. launch.
Kalshi didn’t immediately reply to an inquiry for comment on Thursday.
McHale announced on Thursday that the company would no longer accept bets in Washington, Washington, DC, Washington, D.C., or Washington, D.C., related to anything related sports, election, politics, entertainment and culture, technology, science, tech, or any other subject. McHale stated that the company may accept bets and contracts in Washington on topics such as economics, finance climate, commodities, or elections.
McHale instructed Kalshi to install geofencing to its website to prevent IP addresses from Washington placing bets on or purchasing contracts. The company was ordered to implement geofencing by August 19 and more advanced geofencing by September 2 otherwise they would be fined $120,000 per day until the work is completed. The company was also told to cease all marketing and advertising in Washington.
Brown stated in a press release that Kalshi made a fortune by promoting bets on events such as sports, election results, natural disasters and the Iran War. As this case progresses, we will enforce Washington laws and hold Kalshi responsible for misleading consumers.
McHale stated that the company should continue to allow Washington residents to close their accounts or withdraw money.
The story is still developing. Updates will be posted.

Continue Reading

Business

NTSB says broken engine part shattered the Ryanair flight window that a man’s head got sucked into

Investigators in the United States said that shattered engine parts caused a broken window to break on a Ryanair flight shortly after it took off in Greece. The man’s face was then sucked down into the hole of the fuselage, before fellow passengers pulled the passenger to safety.
In its report, the National Transportation Safety Board stated that the parts which flew from the engine when a blade of a fan broke the glass and caused damage to the fuselage at several places.
The accident occurred shortly after Thessaloniki, a northern Greek city in the north of Greece took off on 10 July. According to the NTSB, it discovered bird remains in the engine. This suggests that the plane could have hit birds when it took off.
A 61-year old man was almost sucked from the Boeing 737. He suffered friction burns and injuries to his neck, shoulders and back before a fellow passenger was able to pull him inside.
The man who was rescued by panicked passengers after his window had broken
Flight attendants reported to investigators hearing and feeling a loud, continuous vibration in the cabin and seeing smoke or fog before oxygen masks were dropped.
A flight attendant noticed that some passengers were standing and asking for assistance because the passenger in row 11, window seat, was partly lodged into a broken window. Other passengers were able to get him into the cabin.
A passenger, who was a physician at the time, attended to the injured passenger in row 12. Flight attendants gave other passengers a metal box to use to cover the window.
Radio Thessaloniki shared a series of videos taken from the inside of the aircraft that showed people wearing masks when the cabin pressure dropped. One video appeared to show a blown out window with a nearby man wearing an oxygen mask. Third video was filmed, it appears, after the plane landed. It showed emergency workers working on the aisle.
In May, the engine fan blades underwent an inspection.
In a press release last month, Ryanair stated that “a passenger window came loose in flight and the plane returned to Thessaloniki soon after taking off.”
In this case, the NTSB and Greece participated in an investigation that was conducted by Greece’s Hellenic Air and Rail Safety Investigation Authority.
Michael O’Leary, CEO of Ryanair, was reprimanded by the NTSB after telling investors that last month the investigation focused only on damage caused by foreign objects and did not consider the age or history of maintenance. According to the NTSB, investigators had not ruled out anything and O’Leary was not authorized to speak about it.
The maintenance records indicate that in November 2025 and May 2026, the blades of the engine on the right that failed were subjected to ultrasonic checks without damage. The NTSB stated that the crews had reported four bird strikes on the same engine in the last year. After two of these suspected bird strikes, the NTSB found remains from birds.
The Associated Press emailed Ryanair, Boeing, and CFM International (the engine maker) to ask for their comments on the NTSB findings.
At least two incidents have occurred where CFM engine parts failed, allowing the cabin to be breached. A woman died in 2018 after being partially pulled out of a cracked window on a Southwest Airlines Flight. In 2016, another Southwest Jet suffered an engine failure caused by a blade.
Minutes after take-off, damage occurs
Flightradar24, a flight tracking site, reports that the narrow-body aircraft with 189 seats was first delivered to Ryanair by 2008.
Flightradar24 reported that flight records showed the plane climbed to 15,000 feet (4570 meters) six minutes after takeoff, then descended immediately to 6,000 feet (1830 meters), “to burn off fuel for thirty minutes,” before returning to Thessaloniki an hour later.
Malta Air operated the flight, which is a subsidary of Ryanair, Europe’s biggest budget airline.
The passengers were able to return safely to the terminal after landing. The airline stated that one passenger received medical attention on the ground at Thessaloniki.

Continue Reading

Business

Workday shares post best day in 10 years on Silver Lake takeover report

The Workday stock rose nearly 18%, its best day since 2016. This was due to a report that Silver Lake Private Equity is in discussions with the company about acquiring their human resource software.
Reuters reported that the shares were halted several times during late afternoon trading, and the market value of the company closed at $51 billion.
Reuters, citing people familiar with the issue, reported that discussions had been going on for months.
CNBC’s requests for comments to Workday and Silver Lake were not responded to immediately.
Workday shares have been affected by concerns that AI tools could disrupt the software business model in recent months. A recent acquisition could indicate renewed interest in software despite the fears.
Stocks have recovered from recent selling, but are still down by 7% over the past year.
Aneel Bhushri, the co-founder of the company who was named CEO in March after Carl Eschenbach retired. Bhusri held various roles in the company including as co-CEO and CEO.
Aneel [Bhusri], the CEO of Silver Lake, and Egon Durban from Silver Lake are well acquainted through their many connections. Brent Thill, CNBC’s “Power Lunch” analyst said: “We think that this makes sense and it goes back to the bad impact software has had.”
The company reported better than expected results in May and increased its AI forecast.

Continue Reading

Business

Ooh la la, Austin: Delta launches first-ever service to Paris

The service will be available daily throughout the summer, providing customers with a high-quality connection from Austin to one of Europe’s most prestigious gateways. Delta will offer its flagship international service aboard the Airbus A330neo. The aircraft features four seat options: Delta One (r), Delta Premium Select(r), Delta Comfort(r) or Delta Main.
Delta One offers fully lie-flat seating, luxurious bedding and privacy screens, along with chef-curated food and beverages. Delta Premium Select provides enhanced comfort, with larger seats and more legroom. Delta Comfort and Delta Main offer spacious seating with memory foam cushions and customized entertainment that includes over 1,000 hours. The aircraft also boasts an increased cargo capacity in order to keep up with the rising demand.
Customers in Austin can benefit from extensive connectivity outside of Europe through the joint venture between Delta and Air France-KLM/Virgin Atlantic. During peak summer months, Delta Air France KLM and Virgin Atlantic will work together to offer 10 nonstop weekly flights from Austin to Europe, including service to Paris Charles de Gaulle Airport and Amsterdam.
Air France offers seamless connections from Paris to Europe, India, and Africa.

Continue Reading

Business

Forbes editor out after reports quote him saying he ‘made a mistake’

Forbes’ top editor quit his position last month after he was fired for accepting 6 million dollars from a company that did business with Forbes.
The New York Times revealed this week that Randall Lane had been paid by RJ Shook whose firm, Shook research, has worked with Forbes to rank wealth advisors since 2016. Payment was made after Shook had sold the majority of its stake to private equity a year earlier.
The Associated Press reviewed an internal email dated 23 July that confirmed Lane’s departure. The email did not provide any other information about his departure. Lane worked at Forbes for almost 16 years, and has been its editor-in-chief since 2017.
According to a person working at Forbes who spoke under condition of anonymity due to the sensitive nature of the matter, the Times article revealed the reasons for the dismissal. In an email that was sent this week, the company said it could not provide any further comment.
A former editor was quoted saying that he “made a mistake”
The Times reported that a source familiar with Lane’s thoughts said he viewed the payment as a gift for the advice Shook had received over the years.
In a written statement, Mr. Lane told The Times: “I admit that I made a bad mistake. It was an error of judgment that I failed to disclose the gift. “I deeply regret it, and as a result I lost my job and the team that I loved.”
Lane, as well as a representative of Forbes, did not reply to comment requests.
Why Shook paid Lane is unclear. The company had an apparent close relationship with Forbes. Shook Research, for instance, lists on its website 12 ranking of wealth advisors and management team in partnership with Forbes.
It is also unclear why Lane believed that disclosing this payment would solve any ethical concerns it might have raised. To avoid conflict of interest, traditional newsrooms usually prohibit journalists from taking payments from business partners or sources.
Forbes’ editorial standards and values statement states that “all staff and contributors are prohibited from accepting any compensation, benefits or favors” from the people, groups or companies featured in its coverage.
Any real or perceived conflict of interest (financial or professional, legal, personal, or other) or relationship must be avoided or discussed with the relevant managing editor. It reads: “If approved, the conflict must be disclosed explicitly in the article to maintain readers’ trust.” Any attempt to avoid or fail to fulfill these solemn obligations is a serious offence and will be reviewed and subject to swift disciplinary actions.
The public’s trust in the media has declined
The Times’ report is released at a time when public confidence in media has been low. According to Pew Research Centre analysis from February, 57% of Americans have little confidence that journalists will act in the interests of the people.
Forbes, founded in 1917, has evolved into an influential and biweekly corporate America account. Its covers feature Steve Jobs and Warren Buffett.
Lane seemed to be aware that trust was a problem in the media. He published in 2024 a piece titled “How Forbes Delivers journalism You Can Trust.”
Thomas Jefferson wrote that “we get the government which we deserve.” It’s also true for our media.
___
Hannah Schoenbaum, a journalist with Associated Press, contributed to the report.

Continue Reading

Latest News

Business2 hours ago

Kalshi ordered to stop most operations in WA

A King County Judge ordered that Kalshi must cease most of its operations in Washington before the middle next week....

HealthNews2 hours ago

Ticks that cause Lyme and other diseases have migrated south. Are doctors ready?

Angela Newman, of Biltmore Forest in North Carolina, recalls “bizarre symptoms” she started experiencing nearly a decade earlier. Blurred vision,...

Entertainment2 hours ago

Former Nickelodeon Star Of ‘All That’ Was 46

TMZ reported that Christy Knowings died on Tuesday, August 11 after she was taken off life support in a hospital...

Business2 hours ago

NTSB says broken engine part shattered the Ryanair flight window that a man’s head got sucked into

Investigators in the United States said that shattered engine parts caused a broken window to break on a Ryanair flight...

Business2 hours ago

Workday shares post best day in 10 years on Silver Lake takeover report

The Workday stock rose nearly 18%, its best day since 2016. This was due to a report that Silver Lake...

HealthNews3 hours ago

7 Foods That Help Reduce Inflammation and Pain in as Little as 10 Days

It could be that what you eat is the answer to your everyday pains. What does “anti-inflammatory” mean? And can...

Business3 hours ago

Ooh la la, Austin: Delta launches first-ever service to Paris

The service will be available daily throughout the summer, providing customers with a high-quality connection from Austin to one of...

Entertainment3 hours ago

‘All That’ Star Christy Knowings Dead at 46

TMZ reports that Christy Knowings, the former “All That’ star who died after an asthma attack left her brain damaged....

Business3 hours ago

Forbes editor out after reports quote him saying he ‘made a mistake’

Forbes’ top editor quit his position last month after he was fired for accepting 6 million dollars from a company...

PM office canada3 hours ago

LeBlanc will meet with Greer as clock ticks down toward looming 50% tariffs

Dominic LeBlanc, Canada-U.S. Commerce Minister, will meet Jamieson Greer in Washington on Thursday, as the trade negotiations continue. There is...

Trending News

Join Our Newsletter

Stay updated with breaking news and exclusive content.