Global Glance: U.S. gains just 38K jobs, OPEC states fail to meet production deal

Powered by The Associated Press

Here are today’s top business headlines from across the nation and world:

U.S. gains just 38K jobs, fewest in 5 years; rate at 4.7 percent

WASHINGTON (AP) — U.S. employers drastically slowed their hiring in May, adding just 38,000, the fewest in more than 5 years and a sign of concern after the economy barely grew in the first three months of the year. At the same time, the unemployment tumbled to 4.7 percent from 5 percent, the Labor Department said Friday in its monthly unemployment report. The rate hit its lowest point since November 2007 as nearly a half-million jobless Americans stopped looking for work. Read more

OPEC states fail to reach deal on production

VIENNA (AP) — OPEC countries failed Thursday to agree on measures to influence crude supplies and prices – a missed opportunity to show the resolve that for decades let them set how much consumers and industries worldwide would pay for gas, heating and related necessities. At the same time, OPEC officials argued that the cartel was alive and well, scoffing at suggestions that its authority was eroding to the point where it will soon be negligible. Read more

Wal-Mart testing Uber, Lyft for online grocery store delivery

BENTONVILLE, Ark. (AP) — Wal-Mart Stores Inc. says it will be testing its grocery delivery service with ride-hailing companies Uber and Lyft in the next two weeks in Denver and Phoenix. The move is the latest step in the retailer’s efforts to better compete with Amazon, which is delivering groceries directly to shoppers’ homes in several markets. Read more

Tribune renames itself ‘Tronc’ while Gannett weighs its bid

NEW YORK (AP) — We still don’t know if USA Today owner Gannett will continue its $864 million bid for Tribune Publishing, but we do know that no one will have Tribune to kick around anymore. That’s because it’s changing its corporate name – to Tronc Inc ., standing for “Tribune online content.” Read more

Fears of ‘Brexit’ stark along Ireland’s EU-blurred border

BLACKLION, Ireland (AP) — Ireland’s soft border could become a hard fact of life again if the United Kingdom leaves the European Union, the sovereignty-sharing bloc that has done much to blur the 95-year-old boundary. Should a majority of British voters reject continued EU membership in a June 23 referendum, Northern Ireland’s nearly 500-kilometer (310-mile) frontier with the Irish Republic would become the only British land border with the 27 remaining EU nations. Read more

U.S. trade deficit increases 5.3 percent to $37.4 billion

WASHINGTON (AP) — The U.S. trade deficit, after falling to the lowest point in more than two years, increased in April as a surge in imported goods outpaced a rebound in exports. The Commerce Department says the deficit increased 5.3 percent in April to $37.4 billion, up from an imbalance of $35.5 billion in March. Read more

Is Wal-Mart’s multi-front fight enough? Shareholders meet

FAYETTEVILLE, Ark. (AP) — Wal-Mart’s sway with customers and efforts by the world’s largest retailer to grow more nimble in a fast-changing consumer environment will take center stage during its annual shareholders’ meeting Friday. Read more

Leave a Reply