US employers hired a record number of people in April
WASHINGTON (AP) — U.S. employers hired the most people on record in April, while the number of open jobs was largely unchanged, evidence that the job report remains solid. The Labor Department says businesses filled 5.9 million jobs in April, 4.2% more than in March and the most since records began in December 2000.
Trump signals frustration with Fed's independent policies
WASHINGTON (AP) — President Donald Trump is complaining that President Xi Jinping enjoys a major advantage in the U.S.-China trade war in that he controls China's central bank while Trump must deal with a Federal Reserve that is "very destructive to us."
Seniors more likely to work longer in big metropolitan areas
CHICAGO (AP) — Seniors in major metropolitan areas, especially in the Northeast and around Washington, D.C., are more likely to continue working past age 65 than those in other areas around the country. That's according to an analysis of Census data by The Associated Press-NORC Center for Public Affairs Research. Analysts say the types of jobs in those areas are in government, finance, law and academia and are more conducive to keeping seniors working longer.
Mexico-US tariff deal: Questions, concerns for migration
MEXICO CITY (AP) — The US and Mexico are taking victory laps over a deal that headed off threatened tariffs on Mexican imports, but Mexico says there are conditions in the deal that were already in the works. Mexico's interior secretary says the country had already planned to deploy 6,000 National Guard troops to ramp up migration enforcement. And Mexico was already increasing detentions, deportations and checkpoints. Observers say what is of concern is even more aggressive enforcement.
Hudson's Bay executive leads bid to take retailer private
NEW YORK (AP) — A group of shareholders of Hudson's Bay Co. is making an offer to take the struggling department store chain private. The proposal is being led by Executive Chairman Richard Baker, Rhone Capital LLC, WeWork Property Advisors, Hanover Investment SA and Abrams Capital Management LP. The offer values the company at 9.45 Canadian dollars ($7.12) per share. That's a 48% premium to the company's closing share price on the Toronto Stock Exchange on Friday.
Salesforce buying Tableau as businesses embrace data
SAN FRANCISCO (AP) — Salesforce, a maker of customer-management software, is buying Tableau Software in a $15.7 billion all-stock deal. By scooping up Tableau, which provides easy-to-use tools for visualizing and organizing data, Salesforce is the latest big tech firm to carve itself a role in helping businesses analyze data and make smarter decisions.
Private equity firm buying Shutterfly for $1.74 billion
SAN FRANCISCO (AP) — Private equity firm Apollo Global Management is buying online photo publishing company Shutterfly for $51 per share. Apollo will pay $1.74 billion for the 20-year-old company, which became popular offering its users prints and photobooks of their favorite shots. But demand for that type of service has declined as people opt to share photos online through Facebook and other social networks.
Supreme Court rules against oil drilling platform workers
WASHINGTON (AP) — The Supreme Court has ruled against workers on oil drilling platforms off California who argued they should be paid for the off-work time they spend on the platform, including sleeping. The high court said Monday that federal law applies to the workers and doesn't require them to be paid for non-working time spent at their work location.
Raytheon and United Technologies to create a defense giant
WALTHAM, Mass. (AP) — Raytheon and United Technologies will join to create a massive aerospace and defense company in a sector that is already rapidly consolidating. The combined company will oversee sales of the F-35 fighter jet, Patriot and Tomahawk missile systems in addition to space suits and intelligence technology as well as Pratt & Whitney engines used in both commercial and military aircraft. The companies anticipate annual revenue of $74 billion if approved.
Starbucks launches reusable cups trial at UK airport
LONDON (AP) — Starbucks and environmental charity Hubbub are launching a trial program to lend passengers at Britain's Gatwick Airport reusable cups while waiting for their flights in hopes of cutting down on waste. The one-month pilot program will give passengers at Britain's second-largest airport the option of borrowing the cup — rather than using a paper one — and disposing of it before getting on their flights at "Cup Check-In" points.
US stocks climb after US suspends tariffs on Mexican goods
NEW YORK (AP) — Technology companies and banks helped power stocks higher on Wall Street Monday as investors welcomed news that the U.S. and Mexico averted a trade war and potentially damaging tariffs. The latest gains extend the market's winning streak to a fifth day. That follows the strongest week for stocks since November in what has been a marked turnaround for the market after escalating trade tensions fueled a turbulent skid in May. Several large deals also helped put investors in a buying mood.
The S&P 500 index gained 13.39 points, or 0.5%, to 2,886.73. The Dow Jones Industrial Average rose 78.74 points, or 0.3%, to 26,062.68. The Nasdaq composite climbed 81.07 points, or 1.1%, to 7,823.17. The Russel 2000 index of smaller companies gained 9.17 points, or 0.6%, to 1,523.56.