Business News

US added a strong 227,000 jobs in November in bounce-back from October slowdown

WASHINGTON (AP) — America’s job market rebounded in November, adding 227,000 workers in a solid recovery from the previous month, when the effects of strikes and hurricanes had sharply diminished employers’ payrolls. Last month’s hiring growth was up considerably from a meager gain of 36,000 jobs in October. The government also revised up its estimate of job growth in September and October by a combined 56,000. Friday’s report also showed that the unemployment rate ticked up from 4.1% in October to a still-low 4.2%. The November data provided the latest evidence that the U.S. job market remains durable even though it has lost significant momentum from the 2021-2023 hiring boom, when the economy was rebounding from the pandemic recession.

Federal appeals court upholds law requiring sale or ban of TikTok in the US

A federal appeals court panel on Friday unanimously upheld a law that could lead to a ban on TikTok in a few short months, handing a resounding defeat to the popular social media platform as it fights for its survival in the U.S. The U.S. Court of Appeals for the District of Columbia Circuit ruled that the law – which requires TikTok to break ties with its China-based parent company ByteDance or be banned by mid-January – is constitutional, rebuffing TikTok’s challenge that the statute ran afoul of the First Amendment and unfairly targeted the platform. TikTok and ByteDance — another plaintiff in the lawsuit — are expected to appeal to the Supreme Court.

Stock market today: Wall Street drifts around its records after a solid jobs report

NEW YORK (AP) — U.S. stocks are drifting around their records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation. The S&P 500 rose 0.2% Friday and was just above its all-time high set on Wednesday. The Dow Jones Industrial Average fell 40 points, and the Nasdaq composite climbed 0.6%. Expectations rose among traders that the Federal Reserve will cut interest rates again at its next meeting in two weeks after the jobs report showed stronger hiring than expected but also an uptick in the unemployment rate.

Killing of UnitedHealthcare CEO spotlights complex challenge companies face in protecting top brass

NEW YORK (AP) — In an era when online anger and social tensions are increasingly directed at the businesses consumers count on, Meta last year spent $24.4 million to surround CEO Mark Zuckerberg with security. But the fatal shooting this week of UnitedHealthcare CEO Brian Thompson while walking alone on a New York City sidewalk has put a spotlight on the widely varied approaches companies take to protect their leaders against threats. And experts say the task of evaluating threats against executives and taking action to protect them is getting more difficult. One of the primary worries are loners whose rantings online are fed by others who are like-minded. It’s up to corporate security analysts to decide what represents a real threat.

Words on ammo in CEO shooting echo common phrase on insurer tactics: Delay, deny, defend

A message left at the scene of an insurance executive’s fatal shooting echoes a phrase commonly used to describe insurer tactics to avoid paying claims. The words “deny,” “defend” and “depose” were written on the ammunition used to kill UnitedHealthcare’s CEO. That’s according to two officials who spoke to The Associated Press on condition of anonymity Thursday. The words are similar to the phrase “delay, deny, defend.” That’s how attorneys describe insurers denying services and payment, and the title of a 2010 book critical of the industry. Police haven’t officially commented on the words. But Thompson’s shooting and the messages on the ammunition have sparked outrage on social media and elsewhere, reflecting frustration Americans have over the cost and complexity of getting care.

Michigan Democrats move to protect reproductive health data before GOP takes control of House

LANSING, Mich. (AP) — Democrats in Michigan are pressing to pass reproductive health care legislation before the party loses its majority with the new legislative session next year. A bill to protect digital reproductive health data including data logged on menstrual cycle tracking apps is a Democratic priority as lawmakers meet this month. Democratic women and supporters of the legislation say they are acting with new urgency before President-elect Donald Trump takes office because they don’t believe his campaign promise to leave abortion to the states. The rush is also a reaction to Republicans taking control of the state House in January. Democrats kept control of the state Senate in the November election.

Japan’s Nippon Steel sets sights on a growing overseas market in its bid to acquire US Steel

KASHIMA, Japan (AP) — The signs at Nippon Steel read: “The world through steel,” underlining why Japan’s top steelmaker is pursuing its $15 billion bid to acquire U.S. Steel. Japan’s domestic market isn’t growing, so Nippon Steel has its eyes on India, Southeast Asia and the United States, where populations are still growing. Nippon Steel gave reporters a tour of one of its plants in Japan on Friday. The bid for U.S. Steet is opposed by President-elect Donald Trump, President Joe Biden and American steelworkers. If the deal goes through, U.S. Steel will keep its name and its headquarters in Pittsburgh, Pennsylvania, but become subsidiary of Nippon Steel.

China’s ban on key high-tech materials could have broad impact on industries, economy

BANGKOK (AP) — China has banned exports of key materials used for a wide range of products, including smartphones, electric vehicles, radar systems and CT scanners, swiping back at Washington after it expanded export controls to include dozens of Chinese companies that make equipment used to produce computer chips. Both sides say the controls are justified by national security concerns. Analysts say they could have a much wider impact on manufacturing in many industries and supply chains, depending on the ability of each side to compensate for loss of access to strategically important materials, equipment and components. Here’s why this could be a tipping point in trade conflict between the two biggest economies.

The EU makes an urgent TikTok inquiry on Russia’s role in Romanian election turmoil

LONDON (AP) — The European Union has sent TikTok an urgent request for more information about Romanian intelligence files suggesting that Moscow coordinated influencers on its platform to promote an election candidate who became the surprise front-runner in the nation’s presidential election. The vote resulted in far-right populist Calin Georgescu coming from out of nowhere to take top spot in the first round of voting. But the election was thrown into turmoil after the country’s top court annulled results from the first round of voting. European Commission officials said Friday that they asked the video sharing platform to comment on the files and to provide information on actions that it’s taking in response.

A Chinese vessel has been hijacked off the Somali coast, officials say

MOGADISHU, Somalia (AP) — Local authorities in Somalia have confirmed that a Chinese-owned fishing vessel with 18 crew members aboard was hijacked last week off the northeastern coast of Xaafuun district in Somalia’s Bari region. An official in the area where the vessel is being held told journalists that the hijackers include the ship’s security guards, who later joined forces with armed men from the coastal region. The European Union’s anti-piracy naval force, Eunavfor Atalanta, brought global attention to the incident after issuing a statement that confirmed the local maritime authorities had notified it and investigations revealed that armed men were in control.