President Joe Biden said on Thursday that his campaign to protect consumers from hidden “junk fees” is bearing fruit, with more companies agreeing to provide greater transparency in pricing. Several companies in the ticketing, lodging, and other industries have pledged to eliminate hidden fees and provide customers with all-in, upfront pricing for their products and…
Biden Targets ‘Junk Fees’ Imposed by Businesses, Calls for More Transparency
Public Service Union Says Recruitment of Government Staff Should be Re-Nationalised
June 15, 2023
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AustraliaAustralian Public ServiceBusiness & Marketseconomic policiesInternationalpay riserecruitment agencyWorld
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The Commonwealth Public Service Union (CPSU) says the federal government should reinstate the Commonwealth Employment Services (CES) and put an end to the outsourcing of employment to recruitment agencies. The CES existed prior to 1998, when the Coalition government, under Prime Minister John Howard, privatised the bureau to a large number of community-based providers to “ensure good…
Stock Market Today: Wall Street Jumps, and Its Winning Streak Kicks Into a Higher Gear
NEW YORK—Stocks swept higher Thursday, revving the longest rally for Wall Street in a year and a half into a higher gear. The S&P 500 rallied 1.2 percent to reach heights untouched since April 2022. The Dow Jones Industrial Average climbed 428 points, or 1.3 percent, while the Nasdaq composite rose 1.1 percent. Homebuilder Lennar…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 15)
June 15, 2023
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Benchmark U.S. crude oil for July delivery rose $2.35 to $70.62 a barrel Thursday. Brent crude for August delivery rose $2.47 to $75.67 a barrel. Wholesale gasoline for July delivery rose 9 cents $2.64 a gallon. July heating oil rose 12 cents to $2.48 a gallon. July natural gas rose 19 cents to $2.53 per…
How Major US Stock Indexes Fared June 15
Wall Street staged a broad-based rally, with the S&P 500 notching the biggest gain yet in its recent winning streak. The benchmark index rose 1.2 percent Thursday. The Dow was up 428 points, and the Nasdaq gained 1.1 percent. Treasury yields fell after mixed reports on retail sales, manufacturing and unemployment claims raised hopes the…
Chinese Hackers Breached Hundreds of Public and Private Networks, Investigation Concludes
June 15, 2023
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Barracuda NetworksBusiness & MarketsChina Newschinese espionageChinese hackingchinese spyingcyber spyingespionagehackinghacking groupMandiantspyingTechTech Newstechnology
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Suspected state-backed Chinese hackers used a security hole in a popular email security appliance to break into the networks of hundreds of public and private sector organizations globally, nearly a third of them government agencies, including foreign ministries, cybersecurity firm Mandiant said Thursday. “This is the broadest cyber espionage campaign known to be conducted by…
Worker Mobility Will Place People Over Robots in Future Labor Market, Experts Say
June 15, 2023
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advanced technologyAI technologyBusiness & Marketseconomic policiesglobal economylaborPolicies & ImpactsSocial IssuesUSUS News
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Lant Pritchett says the world’s wealthiest nations will face a significant labor shortage, and labor mobility is the best way to deal with it. Pritchett is an economist and research director for the Labor Mobility Partnerships (LaMP). He joined Simon Johnson, professor of entrepreneurship at the Massachusetts Institute of Technology’s Sloan School of Management, on…
Target Facing Major Pushback Over Transgender Controversy as Stock Price Drops
June 15, 2023
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Target is facing stock losses after a massive pushback over transgender merchandise in its stores. Shareholders were hit with lowered projections, according to a report from Bank of America’s Global Research division on June 14, as Target faces the worse downgrade in three years. Many customers have been boycotting Target over its pro-LGBT stance since May, ahead of…
One, Two More Rate Hikes Won’t Make Big Difference to Economy: Strategist
The Federal Reserve kept interest rates unchanged on Wednesday, but signaled another half-of-a-percentage-point hike may be coming by the end of this year. The U.S. central bank acknowledged a stronger-than-expected economy and a slower decline in inflation. NTD Business spoke with Sam Burns, chief strategist at Mill Street Research, to find out his thoughts on…
FDA Alert: Frozen Strawberries Recalled Across US After Contagious Virus Reported
The U.S. Food and Drug Administration (FDA) this week expanded a recall of frozen strawberries due to a potential contamination of hepatitis A, according to an agency news release. On Monday, the Willamette Valley Fruit Company based in Oregon announced the recall of frozen strawberries that are sold at Walmart, Costco, and HEB retail stores under…
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