U.S. first-time unemployment claims climb to nine-week high
The numbers: The number of Americans who applied for...
The numbers: The number of Americans who applied for unemployment benefits last week rose to a nine-week high of 221,000. but they remained quite low and didn’t show any deterioration in the labor market.
Last week there were 212,000 unemployment filings, according to government figures. Economists polled by the Wall Street Journal had forecast new claims to total 213,000 in the seven days ending March 30, based on seasonally adjusted figures.
Jobless claims have hovered between 194,000 to 225,000 this year, a remarkably low level that attests to the strength of the labor market and broader economy.
Key details: New jobless claims fell in 32 of the 53 states and territories that report these figures to the federal government. Most of the declines were very small.
AI energy needs will boost natural gas, producers say
The energy required to...
The energy required to power artificial intelligence will exceed what renewable energy and batteries can provide, natural gas producers have said, making the case for fossil fuel supplies even as countries try to transition to green technology. The AI boom "will not be done without gas," said Toby Rice, chief executive of EQT, adding power demand has become a dynamic market.
Americans believe they need $1.46 million to retire in style
The new magic number for ...
The new magic number for retirement, found in a study by Northwestern Mutual, is 15% higher than what people thought they needed last year—and 53% higher than the amount people in 2020 pictured themselves needing to feel comfortable leaving the workforce to sit on a beach in Florida. It’s also more than most people have socked away: On average, US adults have $88,400 saved for retirement.
Spotify plans to raise prices. We regret to inform...
Spotify plans to raise prices. We regret to inform you thatthe platform where you listen to music and podcasts is reportedly gearing up to raise prices, in part to help offset its costly push into audiobooks. Spotify will begin charging $1 to $2 more in the UK, Australia, Pakistan, Sri Lanka, and Ghana this month and then hike prices in the US later in the year, per the Wall Street Journal. The company is testing how much it can squeeze out of listeners as it tries to get back on track after losses that prompted layoffs.
José Andrés is speaking out after an Israeli strike killed seven aid workers from his World Central Kitchen charity who were delivering food in Gaza.
Ukraine lowered its military draft age from 27 to 25, a controversial move as the country tries to bulk up its troops to fight Russia’s invasion.
Intel revealed that its semiconductor-making unit lost $7 billion last year. The news sent the company’s stock down.
Amazon is laying off hundreds of employees from its cloud computing division, including the team overseeing its cashierless tech (and not just the Just Walk Out feature it’s pulling from stores), as well as people sales and marketing roles.
Benchmark U.S. crude oil for May delivery rose 28 centsto $85.43 per barrel Wednesday. Brent crude for June delivery rose 43 cents to $89.35 per barrel.
Wholesale gasoline for May delivery was unchanged at $2.76 a gallon. May heating oilrose 2 centsto $2.73 a gallon. May natural gasfell 2 centsto $1.84 per 1,000 cubic feet.