Business News

WASHINGTON (Reuters) — The White House said on Friday it had pared down its infrastructure bill to $1.7 trillion from $2.25 trillion, with cuts to investments in broadband and roads and bridges, but Republicans dismissed the changes as insufficient for a deal. The White House effort represented a d…

WASHINGTON (Reuters) — Federal Reserve officials and new Dallas Fed data have begun lowering expectations for May jobs growth in the United States as business hiring plans continue to outrun the supply of people able or willing to work. Dallas Federal Reserve president Robert Kaplan said Friday tha…

NEW YORK (Reuters) — After more than a year of being hard hit by the coronavirus pandemic, New York City restaurants reopened indoor dining to 100% capacity this week, but a shortage of hospitality workers has left some restaurant and bar owners scrambling. Pat Hughes, owner of Manhattan bar Scruff…

(Reuters) — A rebound in bitcoin held strong on Thursday, even as the U.S. Treasury Department called for new rules that would require large cryptocurrency transfers to be reported to the Internal Revenue Service and the Federal Reserve flagged the risks cryptocurrencies posed to financial stabilit…

HAGÅTÑA (The Guam Daily Post) — Giving away incentives such as free staycation packages could further drive up Covid-19 vaccination, while prolonged unemployment payments may now also be hurting Guam’s chances of getting more workers back on the job. These were among key points that Pacific I…

KOROR (Pacific Note/Tuna Pacific/Pacnews) — The new administration of Palau has created a new ministry and, for the first time, the name fisheries is included, shifting policy focus to the economic value of the sector. During his first 100 days in office, President Surangel Whipps Jr. reorganized t…

LONDON (Reuters) — Bitcoin tumbled below the $40,000 mark on Wednesday to a 3-1/2 month low as selling in digital coins intensified after China banned financial and payment institutions from providing cryptocurrency services. Bitcoin, the biggest and best-known cryptocurrency, had already been unde…

WASHINGTON (Reuters) — The Federal Reserve on Wednesday will release a readout of its April policy meeting, an event already overrun by data showing disappointing jobs growth and a spike in inflation that has kicked a debate about whether the U.S. central bank is off course into high gear. Fed offi…

WASHINGTON (Reuters) — U.S. steel industry groups and the United Steelworkers union on Wednesday urged President Joe Biden to keep in place the steel tariffs imposed three years ago, saying that lifting them now would undermine the industry’s viability. In a letter to Biden just days after hi…