Business News

(Reuters) — Matt Arnold just spent $5,000 to run help-wanted ads for his company’s five trailer factories scattered from Pennsylvania to Utah. “We hired two from the ads,” said Arnold, just a fraction of the 125 he needs to get back to full strength of 673 workers. Half the welding jobs at his Texa…

WASHINGTON (Reuters) — The White House on Thursday rejected the idea of raising gas taxes as a way to pay for President Joe Biden’s $2.3 trillion infrastructure plan, setting the stage for a fight with business groups that are calling for U.S. drivers to foot the bill instead of corporate tax hikes…

(Reuters) — The S&P 500 on Thursday crossed the 4,000 mark for the first time, as gains in technology shares as well as optimism about a pickup in economic activity helped Wall Street kick off the second quarter on a high note. Swift vaccinations and a massive fiscal stimulus program are poweri…

WASHINGTON (Reuters) — A measure of U.S. manufacturing activity soared to its highest level in more than 37 years in March, driven by strong growth in new orders, the clearest sign yet that a much anticipated economic boom was probably underway. The Institute for Supply Management or ISM said on Th…

WASHINGTON (The Guardian/Pacnews) — Scars from the pandemic will prevent the global economy from making a full recovery, though the impact over the rest of the decade will not be as severe as that of the 2008 financial crisis, the International Monetary Fund has said. Tourism-dependent countries in…

(Reuters) — President Joe Biden is expected to allow a proclamation from his Republican predecessor that had blocked many temporary foreign workers from coming into the United States to expire on Wednesday, according to three people familiar with the matter. The Democratic president has rolled back…

NEW YORK (Reuters) — New York lawmakers passed a bill on Tuesday to legalize adult use of marijuana, which will make it the 15th state in the United States to allow recreational use of the drug. Gov. Andrew Cuomo said he was looking forward to signing the bill into law. “New York has a storied hist…

WASHINGTON, D.C. (Reuters) — President Joe Biden on Wednesday will call for a dramatic and more permanent shift in the direction of the U.S. economy with a roughly $2 trillion package to invest in traditional projects like roads and bridges alongside tackling climate change and boosting human servi…

NEW YORK/ZURICH/TOKYO (Reuters) — Global banks may lose more than $6 billion from the downfall of Archegos Capital, sources familiar with trades involving the U.S. investment firm said on Monday, and regulators and investors fear the episode could reverberate more widely. Japan’s Nomura and Credit …

SEOUL (Reuters) — South Korea’s SK Innovation Co Ltd said on Tuesday it is considering all options including pulling its battery business out of the United States if President Joe Biden does not overturn a trade panel’s decision against it by April 11. “The company has been consulting with experts …