Business news at a glance
IRS will start the tax season with backlog
Biden’s economic challenge: Finding workers and goods
President Joe Biden enters the midterm election year of 2022 determined to address what economists call a “supply” problem — there aren’t enough jobseekers or goods to meet the country’s needs.
US sees record job growth in 2021 after millions lost in 2020
The U.S. economy added a record 6.4 million jobs in 2021, rebounding strongly from unprecedented losses in the year prior due to the pandemic.
November trade deficit hits near record-high $80.2 billion
WASHINGTON — The U.S. trade deficit surged to a near-record high of $80.2 billion in November as exports slowed at the same time that imports jumped sharply.
Stay home or work sick? Omicron poses a conundrum
As the raging omicron variant of COVID-19 infects workers across the nation, millions of those whose jobs don’t provide paid sick days are having to choose between their health and their paycheck.
Business news at a glance
Stocks drop and bond yields jump
Andoh named Mass Transit administrator
John Andoh has been named Mass Transit administrator of Hawaii County effective Jan. 3 following several months serving in the interim role.
ATT, Verizon reject US call for delay in new 5G service
ATT Inc. and Verizon Communications Inc. rejected a U.S. request to delay this week’s launch of a new variation of 5G mobile service that airlines said might interfere with aircraft electronics, posing a safety hazard.
Stocks end 2021 on a weak note, still notch big yearly gain
Stocks capped a quiet day of trading with modest losses Friday, even as Wall Street closed the books on another banner year.
Business news at a glance
Trump appointee resigns after fight with democratic bank regulators
Airlines have a recipe to reach zero emissions by 2050. The key ingredient: cooking oil
Earlier this month, a United Airlines flight from Chicago to Washington made a bit of aviation history, completing a 600-mile trip that the airline hopes will prove the first leg of a journey to a greener future.
10 richest people added more than $400B to their worth in 2021
It’s never a bad time to be a billionaire, but this is an especially good time to have a 10-figure bank statement.
US inflation-adjusted spending stagnates as prices surge
U.S. consumer spending, adjusted for inflation, stagnated in November as the fastest price gains in nearly four decades eroded purchasing power.
US jobless claims little changed last week at still-low level
Applications for U.S. state unemployment benefits were little changed last week, suggesting historically low layoffs as the labor market continues to recover.
5 trends that will move mortgages and housing in 2022
In the Amazon age, consumers are more pampered — and less patient — than ever. Tap your phone and, voilà — hot food from your favorite restaurant arrives in minutes. High-end electronics appear on your doorstep in hours.
COVID-19 variant disrupts holiday travel but not shopping
NEWARK, N.J. — The latest COVID-19 variant is upending holiday plans for tens of thousands of travelers — but it didn’t do much damage to holiday shopping.
Biden signs bills on forced labor in China, ALS research
WASHINGTON — President Joe Biden signed a bill into law Thursday to block imports from China’s Xinjiang region unless businesses can prove the items were made without forced labor, the latest in a series of intensifying U.S. penalties against the Asian power for alleged abuses.
Business news at a glance
JPMorgan fined $200M after staff used personal chats for company business
Supply shortages and emboldened workers: A changed economy
Employees at a fast-food restaurant in Sacramento, California, exasperated over working in stifling heat for low wages, demanded more pay and a new air conditioner — and got both.
1,400 students complete ClimbHI Service Excellence Certificate program
Hawaii workforce development nonprofit ClimbHI has reached nearly 1,400 public high school students in the first two years of its Service Excellence Certificate program for the state Department of Education Career and Technical Education Hospitality Pathway.