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House OKs debt and funding plan, inviting clash with GOP
WASHINGTON (AP) ??" The House voted Tuesday night to fund the government into early December, suspend the federal debt limit and provide disaster and refugee aid, setting up a high-stakes showdown with Republicans who oppose the package despite the prospects of a looming fiscal crisis.The Democratic-led House passed the measure by a vote of 220-211, strictly along party lines. The bill now goes to the Senate, where it is likely to falter because of overwhelming GOP opposition.
The federal government faces a shutdown if funding stops on Sept. 30, the end of the fiscal... Read More
Facebook oversight board reviewing 'XCheck' system for VIPs
Facebook's semi-independent oversight board says it will review the company's "XCheck," or cross check, system following an investigation by The Wall Street Journal into the use of this internal system that has exempted high-profile users from some or all of its rules.The board said Tuesday that it expects to have a briefing with Facebook on the matter and "will be reporting what we hear from this" as part of a report it will publish in October. It may also make other recommendations, although Facebook is not bound to follow these.
The Journal's report found that many... Read More
Tight job market is causing costs to rise at FedEx
NEW YORK (AP) ??" FedEx is getting hurt by the tight job market.The package delivery company said Tuesday that its costs are up $450 million in the most recent quarter, as it paid higher wages as it got harder to find new workers and demand for shipping increased. FedEx also cut its outlook for the year, saying earnings will be lower than it previously expected, partly due to the increased costs related to the tight labor market.
Shares of FedEx Corp. fell 4% in after-hours trading.
Competition for hourly workers has become fierce, and many companies are... Read More
US govt to probe Zoom's $14.7B Five9 deal for natsec risks
A U.S. government committee that reviews foreign investment in telecom is probing videoconferencing company Zoom's $14.7 billion deal for cloud call center company Five9.In an August filing with the Federal Communications Commission, the Justice Department, which chairs the committee, said it would review the deal "to determine whether this application poses a risk to the national security or law enforcement interests of the United States." The Justice Department "believes that such risk may be raised by the foreign participation (including the foreign relationships and... Read More
US sues to stop deal between American Airlines and JetBlue
The Justice Department and officials in six states have filed a lawsuit to block a partnership formed by American Airlines and JetBlue, claiming that it will reduce competition and lead to higher fares.The Justice Department said Tuesday that the agreement will eliminate important competition in Boston and New York and reduce JetBlue's incentive to compete against American in other parts of the country.
Attorney General Merrick Garland said the lawsuit was about ensuring fair competition that lets Americans fly at affordable prices.
"In an industry where... Read More
Top Stories in Business/Finance
- House OKs debt and funding plan, inviting clash with GOP
- Facebook oversight board reviewing 'XCheck' system for VIPs
- Tight job market is causing costs to rise at FedEx
- US govt to probe Zoom's $14.7B Five9 deal for natsec risks
- US sues to stop deal between American Airlines and JetBlue
- White House blacklists Russian ransomware payment 'enabler'
- Activision confirms SEC probe into discrimination allegation
- France rallies EU as trust in US, UK and Australia wanes
- Judge moves ahead with key hearing in Boy Scouts bankruptcy
- US home construction up 3.9% in August after July drop
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