OMAHA, Neb. (AP) — Union Pacific has already lost three lawsuits over the way it removes employees with health conditions because of safety concerns, and the prospect of hundreds more lawsuits looms over the railroad. The lawsuits were originally going to be part of a class-action case before a federal appeals court decided the cases must be pursued individually.
WASHINGTON (AP) — Average long-term U.S. mortgage rates came back down slightly this week after the key 30-year loan rate jumped nearly a quarter point last week. Mortgage buyer Freddie Mac reports that the 30-year rate fell to 5.13% from 5.22% last week. The rate stood at 2.86% a year ago. The average rate on 15-year, fixed-rate mortgages, popular among those looking to refinance their homes, inched down to 4.55% last week.
LOS ANGELES (AP) — Sales of previously occupied U.S. homes slowed for the sixth consecutive month in July, deepening the housing market’s slowdown from a high-flying pace at the start of this year. The National Association of Realtors said Thursday that existing home sales fell 5.9% last month from June to a seasonally adjusted annual rate of 4.81 million.
WASHINGTON (AP) — Slightly fewer Americans filed for unemployment benefits last week as the labor market continues to be the strongest segment of the U.S. economy. Applications for jobless aid for the week ending August 13 fell by 2,000 to 250,000, the Labor Department reported Thursday.
PONTIAC, Mich. (AP) — Thundering gas-powered muscle cars will be closing in on their final Saturday-night cruises in the coming years. That's because automakers are replacing the vehicles with super-fast cars that run on batteries. Stellantis’ Dodge brand has long been the performance flag-bearer of the company formerly known as Fiat Chrysler. Now it is officially moving toward electricity.
OMAHA, Neb. (AP) — The major freight railroads signaled they’re ready to negotiate a new deal based on a presidential report that calls for 24% raises, but the 12 unions involved in the stalled talks covering 115,000 workers still haven’t commented on the recommendations. The group that represents BNSF, Union Pacific, Norfolk Southern, CSX and other railroads in the talks said Wednesday said even though the report issued by the Presidential Emergency Board that Joe Biden appointed last month calls for higher raises than the companies had proposed they want to reach an agreement to avoid a strike.
WASHINGTON (AP) — The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously. Retail purchases were flat in July after having risen 0.8% in June, the Commerce Department reported.
NEW YORK (AP) — Amazon workers in upstate New York filed a petition for a union election on Tuesday, launching a major labor fight against the company. A spokesperson for the National Labor Relations Board says the petition was filed for a warehouse in the town of Schodack, near Albany. To qualify for a union election, the NLRB requires signatures from 30% of eligible voters. The agency now has to verify if the workers are qualified to seek an election.
DUBAI, United Arab Emirates (AP) — The chief executive of Dubai International Airport says the hub saw a surge in passengers over the first half of 2022 as pandemic restrictions eased. Paul Griffiths, who oversees the world's busiest airport for international travel, told The Associated Press Wednesday that he expects the upcoming FIFA World Cup in Qatar to further boost traffic to the city-state's airfield.
NEW YORK (AP) — Walmart reported better-than-expected second-quarter results as more Americans looked to cut costs on groceries at the nation’s largest retailer in the face of surging inflation. Those rising prices, however, meant that customers were cutting back on non-necessary purchases.