WASHINGTON—As U.S. Trade Representative Katherine Tai prepares to meet her Canadian and Mexican counterparts on Monday to review progress in the new North American trade agreement, she is under pressure from home builders and lawmakers to cut U.S. tariffs on Canadian lumber. Shortages of softwood lumber amid soaring U.S. housing demand and mill production curtailed…
US Trade Chief Pressured to Lift Duties on Canadian Lumber
May 16, 2021
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Disney World and Other US Theme Parks Update Mask Rules
Disney World and other U.S. amusement parks updated their mask policy following the latest guidance from the Centers for Disease Control and Prevention (CDC) this week. Masks have been made optional in outdoor areas and pool decks at Walt Disney Inc’s Disney World in Orlando, Florida, effective May 15, but are still needed for entering…
House Republicans Urge Governors to Drop $300 Weekly Unemployment Boost
May 15, 2021
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House Minority Leader Kevin McCarthy (R-Calif.) and several of his GOP colleagues wrote an open letter to the nation’s governors, urging them to “put America back to work” by ending the $300 weekly pandemic unemployment boost that they blame for discouraging people from taking jobs and hurting businesses and the economy. In the letter, co-signed…
Chip Shortage to Hit About 100,000 Mazda Vehicles in 2021
Mazda Motor Corp said on Friday it expects a semiconductor crunch to affect around 100,000 of the Japanese automaker’s vehicles globally during the fiscal year. However, Mazda will fully leverage available inventory to minimize the hit to about 70,000 wholesale units, it said in a statement. The worldwide shift to remote work and learning during…
Weekly Jobless Claims at 14-month Low; Inflation Heating Up
WASHINGTON—The number of Americans filing new claims for unemployment benefits dropped to a 14-month low last week as companies held onto their workers amid a growing labor shortage that helped to curb employment growth in April. The scramble for workers comes as the reopening economy is experiencing a boom in demand, resulting in widespread shortages…
UK Builders to Construct Bigger Homes as More People Work From Home
British house builders are set to construct more detached and semi-detached homes, as the demand grows for properties with space to work from home, an industry body has said. The National House Building Council (NHBC), a warranty and insurance provider, said the housing sector has “bounced back” following the disruption caused by the COVID-19 pandemic,…
Amazon Wins $303 Million Court Fight in Blow to EU Tax Crusade
BRUSSELS—Amazon won its fight against an EU order to pay about 250 million euros ($303 million) in back taxes to Luxembourg in another blow to competition chief Margrethe Vestager’s crusade against preferential deals. The bloc failed to show that Luxembourg had given the U.S. online retailer special treatment in violation of state-aid rules, the EU’s…
Mall Traffic Hits Post-Pandemic High as Retail Recovery Continues
American shoppers continued to flock to the nation’s malls in greater numbers in April, with the foot traffic gap nearly halving in just two months, reinforcing the view of a retail recovery gaining traction. Foot traffic at a sample of 50 malls in April showed that, compared to the pre-pandemic April 2019 level, it was…
Inflation Surges 4.2 Percent Annually to a 13-Year High in April
U.S. consumer prices have soared above economists’ predictions and by the most in over a decade, as fiscal stimulus and booming demand pushed against supply constraints, potentially fueling market fears of a prolonged bout of higher inflation. The year-over-year consumer price index (CPI) jumped by 4.2 percent in April after rising 2.6 percent in March, the…
Consumer Prices Surges 4.2 Percent Annually to a 13-Year High in April
U.S. consumer prices have soared above economists’ predictions and by the most in more than a decade, as fiscal stimulus and booming demand pushed against supply constraints, potentially fueling market fears of a prolonged bout of higher inflation. The year-over-year consumer price index (CPI) jumped by 4.2 percent for the 12 months ending in April, compared…
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