Apple announced on Wednesday that App Store applications generated $1.1 trillion in sales and billings in 2022, according to information from a study by Analysis Group. More than 90 percent of the money went to developers, without a commission paid to Apple. This is because the sales were not done through the App Store but…
Robert F. Kennedy, Jr. Banned by Major Social Media Site, Campaign Pages Blocked
June 2, 2023
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2022 Midterm Elections2024 electionBusiness & MarketsCompaniesDemocrat CandidatesDonald TrumpElon MuskMedia & Big TechPoliticspresidential raceRFK Jr.robert f. kennedy jrSocial MediaTechUSUS News
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Twitter owner Elon Musk invited Democrat presidential candidate Robert F. Kennedy, Jr. for a discussion on his Twitter Spaces after Kennedy said his campaign was suspended by Meta-owned Instagram. “Interesting… when we use our TeamKennedy email address to set up @instagram accounts we get an automatic 180-day ban. Can anyone guess why that’s happening?” he…
May Jobs Resets Recession Expectations, but Hardens Inflation Expectations
June 2, 2023
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Business & MarketsBusiness ColumnistsCore Inflationeconomic policieseconomyFederal Reserveinflationinterest ratesunemploymentUS
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New May jobs printed at 339,000 on June 2, according to the Establishment Survey, well above market expectations of 180,000 jobs. Net revisions were were also up 93,000 jobs from March and April. That makes the average three-month jobs creation over 283,000 jobs. The Households Survey, which is compiled from different data, showed just 175,000 jobs…
Journalists to Strike June 5 at the Largest US Newspaper Chain
Journalists across the U.S. will walk off their jobs next week at roughly two dozen newsrooms run by Gannett, the largest newspaper chain in the U.S., their union said Thursday. The mostly one-day strike, which will start June 5, aims to protest Gannett’s leadership and cost-cutting measures imposed since its 2019 merger with GateHouse Media….
Industry Experts Predict Mortgage Rates Below 6 Percent by 2024
Despite the national slump in real estate sales, Lawrence Yun, the chief economist at the National Association of Realtors (NAR), is forecasting that mortgage rates will fall closer to 6.0 percent by the end of 2023 and go below 6.0 percent in 2024. He expects new and existing-home sales to bottom out in 2023 before…
Retirement Surge Leaves Aviation, Other Industries Desperate to Hire
America is facing a worker-shortage crisis, as several industries nationwide face the challenge of replenishing a workforce diminished by a surge of retirements that began during the pandemic. It’s a growing problem in fields such as aviation, construction, manufacturing, nursing, and some professional industries like accounting. Millions of workers have left the workforce since the…
Fed Plans: Tomorrow and Beyond
Commentary Federal Reserve (Fed) Chairman Jerome Powell recently stepped back from the cut and thrust of immediate policy matters to offer insight into Fed priorities—a review of what events and guidelines will prompt future decisions. Some of what Powell said provided comfort. Other things were not so reassuring. And still, others raised fundamental questions about…
Biden’s Green Rules Mean Appliances Will Soon Cost More and Do Less, Experts Say
June 2, 2023
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appliancesBiden energy policiesBusiness & MarketsCompaniesDepartment of EnergyeconomyenergyEnvironmental Protection Agencygas appliancesgreen new dealPolicies & ImpactsPoliticsUS
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News Analysis A pledge by the Biden administration in December 2022 to take “more than 100 actions” to impose significantly tighter environmental standards on consumer goods is now becoming reality, and consumer groups are predicting a future in which Americans pay more for products that do less, while manufacturers warn of shortages and supply chain…
Judge Recuses Himself From Disney, DeSantis Case After Discovering Relative Owns Company Stocks
June 2, 2023
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Business & MarketsCompaniesdesantisdisneyFloridaJudiciaryPoliticsRegional & State NewsState NewsstockUS
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The federal judge that was set to oversee Disney’s First Amendment lawsuit filed against Florida Gov. Ron DeSantis recused himself from the high-profile case on June 1 after discovering that a “relative within the third degree of relationship” owns Disney stock. In a 14-page decision (pdf), U.S. Chief District Judge Mark Walker, an Obama appointee, said that…
Wall Street Opens Higher After Jobs Data; Debt Default Averted
U.S. stock indexes opened higher on Friday after data showed a moderation in wage growth in May boosted bets that the Federal Reserve will skip raising interest rates this month, while investors cheered the country averting a debt default. The Dow Jones Industrial Average rose 126.01 points, or 0.38 percent, at the open to 33,187.58….
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