Update on the latest cases: | Missouri
Stocks falter ahead of corporate earnings and inflation data
NEW YORK (AP) – Stocks falter on Wall Street as traders wait for more inflation and corporate earnings data this week. The S&P 500, Dow Jones Industrial Average and Nasdaq all fell 0.2% in afternoon trading. A mix of retailers and other businesses that rely on direct consumer spending gained ground, but those gains were offset by falling stocks of technology and communications. US crude oil prices rose and held above $ 80 a barrel. European markets were mostly down and Asian markets also closed mostly down. The yield on the 10-year Treasury bill fell to 1.59%.
Americans quit their jobs at record pace in August
WASHINGTON (AP) – A new report illustrates one of the reasons American employers struggle to fill jobs: Americans are quitting en masse. The Labor Department says resignations jumped to 4.3 million in August, the highest record in December 2000, and from 4 million in July. Hiring also slowed in August. The report shows that the number of available jobs fell to 10.4 million from a record 11.1 million the previous month. The data strongly suggests that the Delta variant wreaked havoc on the job market in August. As COVID-19 cases increased, quits jumped in restaurants and hotels and increased in other public jobs, such as retail and education.
Companies are looking for staff before the holidays
NEW YORK (AP) – Companies that typically hire thousands of seasonal workers are heading for the holidays during one of the tightest job markets in decades, so they’re unlikely to find all the workers they need. For shoppers, it can mean a less than happy holiday shopping experience, with bare store shelves and online orders taking longer than usual to fill. Employers are so desperate to find workers on vacation that they raise wages above $ 15 an hour, offer four-figure enrollment bonuses, and promise to pay for their education. If they can’t find the workers they need, employers will likely rely on existing staff to work more overtime, which can become costly for businesses and lead to burnout for workers.
SOCIAL SECURITY-COST OF LIVING
Significant increase expected in the annual adjustment to the cost of living of Social Security
WASHINGTON (AP) – Rising inflation is expected to result in a significant increase in Social Security’s annual cost-of-living adjustment, or COLA, for the year 2022. The exact amount will be revealed on Wednesday morning. Over the past 10 years, COLA has averaged around 1.7% per year while inflation has remained low. But the economic recovery from the coronavirus pandemic has seen prices for a wide range of goods and services rise, and that should translate into bigger checks for retirees. COLA’s biggest annual increase in recent memory was 5.8% for 2009. Wednesday’s number could rival that.
IMF WORLD ECONOMIC OUTLOOK
IMF predicts slight decline in global growth due to pandemic
WASHINGTON (AP) – The International Monetary Fund is slightly lowering its outlook for a global recovery after the pandemic recession. In its latest World Economic Outlook, the IMF forecasts global growth this year of 5.9%, compared to its July projection of 6%. For the United States, the IMF forecasts 6% growth for 2021, down from its July forecast of 7%. The downward revision reflects a slowdown in economic activity resulting from an increase in COVID-19 cases and a production delay caused by supply shortages and the resulting acceleration in inflation.
Fewer people in the United States turn to food banks, but millions are still in need
WASHINGTON (AP) – Hunger and food insecurity in the United States have declined dramatically over the past six months, but the need remains well above pre-pandemic levels. Hunger experts warn that the situation of millions of families remains extremely fragile. An Associated Press review of bulk distribution figures from hundreds of food banks across the country reveals a clear downward trend in the amount of food distributed by food banks across the country. It started in the spring when the COVID-19 vaccine rollout took hold and closed sectors of the economy began to reopen. Feeding America CEO Katie Fitzgerald said, “It’s down, but it’s still high.”
VIRUS OUTBREAK ACTIVATORS
FDA Considering Moderna, J&J Vaccine Recalls
WASHINGTON (AP) – Many Americans who have been vaccinated by Pfizer are rolling up their sleeves for a booster. Meanwhile, millions of people who have received the Moderna or Johnson & Johnson vaccine are waiting their turn. Federal regulators are starting to tackle this issue this week. On Thursday and Friday, the Food and Drug Administration summons its independent advisers for the first step in the process of deciding whether additional injections of the two vaccines should be distributed and, if so, who should get them and when. Then a CDC panel will offer more details. Vaccinations have climbed above 1 million per day on average in the United States, an increase of more than 50% in the past two weeks. The increase is mainly due to recalls from Pfizer and vaccination mandates from employers.
Kaiser Permanente hit by strike votes in California, Oregon
LOS ANGELES (AP) – More than 24,000 nurses and other healthcare workers at Kaiser Permanente in California and Oregon have overwhelmingly authorized a strike on wages and working conditions strained by the coronavirus pandemic. Similar strike votes could come in half a dozen other states against Kaiser, one of the country’s largest healthcare providers. Unions oppose Kaiser’s proposal to give new employees lower pay and less health protections. They also want increases of 4% for each of the next three years and a commitment to hire more nurses to address staff shortages. Kaiser offers 1% per year and says he needs to cut labor costs to stay competitive.
SOUTHWEST FLIGHTS CANCELED
Southwest limits canceled flights after tumultuous 3 days
DALLAS (AP) – Southwest Airlines appears to be resolving issues that caused nearly 2,400 flights to be canceled in the previous three days. As of noon Tuesday, Southwest had canceled fewer than 100 flights, although more than 400 more were late. This is according to the FlightAware tracking service. The Southwest said bad weather and air traffic control issues in Florida on Friday left planes and pilots out of position, causing cascading problems for flights across the country.
VIOLENT VIDEO COMPLAINT ON FACEBOOK
Father of slain journalist lashes out at Facebook over violent video
WASHINGTON (AP) – The family of a murdered journalist is calling on the Federal Trade Commission to take action against Facebook for failing to remove online footage of his gunshot death. Andy Parker claims the company is violating its own terms of service by hosting videos on Facebook and its sister service Instagram that glorify violence. His daughter, television reporter Alison Parker, and cameraman Adam Ward were killed by a former colleague while reporting for Roanoke, the WDBJ-TV channel in Virginia in August 2015. A complaint filed Tuesday with the FTC indicates that Facebook engages in deceptive marketing practices by violating its own terms of service and distorting the security of the platform.
SUPREME PIPELINE-COURTYARD NATURAL GAS
Spire asks Supreme Court to keep pipeline operational
WITHOUT DATE (AP) – St. Louis-based natural gas company Spire Inc. is asking the United States Supreme Court to allow it to continue operating a pipeline through Illinois and Missouri, warning that a winter shutdown could be devastating for the Saint-Louis area customers. In a case filed last week, Spire requested a suspension that would allow the operation of its Spire STL pipeline until the issue is resolved in court. If the Supreme Court refuses to hear the case, operation of the pipeline could cease on December 13, unless the Federal Energy Regulatory Commission extends an emergency order granted in September.
GENERAL MOTORS BATTERY RECALL FEE
GM Reaches Deal With LG To Pay Bolt Battery Recall Fee
DETROIT (AP) – LG Electronics has reached a deal with General Motors to pay up to $ 2 billion to reimburse the automaker for the cost of recalling Chevrolet Bolt electric vehicles due to battery fires. The automaker announced the deal in a statement Tuesday morning. GM says it will show an estimated recovery of $ 1.9 billion to $ 2 billion in third-quarter profits, which will offset the costs associated with recalls. In August, GM extended a previous recall to more than 140,000 Bolt electric vehicles sold worldwide since 2016 because a manufacturing defect in the battery could cause the vehicles to burn. The recall follows reports of 13 battery fires, GM said, which can occur when two separate faults are present in battery modules.
France’s $ 35 billion innovation plan includes funding for nuclear reactors
PARIS (AP) – French President Emmanuel Macron has unveiled a 5-year investment plan of 30 billion euros ($ 35 billion) for the development of innovative technologies, including small nuclear reactors, electric cars and greener planes. Macron said on Tuesday that the goal of the state-funded France 2030 plan is to boost France’s economic growth over the next decade amid increasing global competition with China and the United States. The plan includes 8 billion euros ($ 9.2 billion) to develop energy technology that would help reduce greenhouse gas emissions. Macron said the funding would fund the construction of small modular nuclear reactors in France, which depends on nuclear power for 70% of its electricity.
EU announces cuts in Baltic herring and cod catches
BRUSSELS (AP) – The European Union is imposing reductions in catches of cod and herring in the Baltic Sea to ensure that threatened stocks and the region’s fishing fleet have a chance of survival. The seas off several northern EU member states have suffered from pollution, high water temperatures and too many vessels chasing too few fish in recent years, pushing EU ministers to impose stricter measures on Tuesday. As part of these measures, catches of the once-abundant western cod will be reduced by 88% next year while cod in the eastern Baltic will be kept at a much reduced level, down 70% from what is expected. two years ago.