Stocks edge higher…Hiring falls short of expectations…Grubhub: No plans to sell
NEW YORK (AP) – Stock indexes are slightly positive in morning trading on Wall Street, losing some of their momentum from yesterday’s record-setting rally. The government reported that U.S. employers added 145,000 jobs in December, short of economists’ forecasts. A solid jobs market has been a key force behind recent economic growth. Technology and health care stocks are rising, while banks fall. Energy stocks are sliding along with declining oil prices.
WASHINGTON (AP) – U.S. employers downshifted on hiring in December, adding 145,000 jobs. Hiring slipped after robust gains of 256,000 in November that were caused in part by the one-off end of a strike at General Motors. The Labor Department says the unemployment rate held at 3.5% for the second straight month, prolonging a half-century low.
UNDATED (AP) – Grubhub says there is no process in place to sell the company, a day after media reports said the company was exploring its options as competition in the food delivery business grows increasingly competitive. The Wall Street Journal reported earlier this week that Grubhub Inc. – the second-largest player in the U.S. market by sales – was thinking about putting itself up for sale. Grubhub said in a statement that because of the media speculation, it felt it was necessary to clarify “that there is unequivocally no process in place to sell the company and there are currently no plans to do so.” Shares are down almost 8% in premarket trading Friday.
LONDON (AP) – A BBC journalist who was paid a fraction of the fee received by a male colleague doing a similar job has won a sex-discrimination lawsuit against the British broadcaster. Samira Ahmed was paid 465 pounds, or $608, per episode of the audience feedback program “Newswatch,” while Jeremy Vine received 3,000 pounds or $3,920 for the similar show “Points of View.” An employment tribunal ruled Friday that the work done by the two journalists was “the same or, of not the same, very similar” and they should have received similar compensation. The publicly funded BBC has been struggling in recent years to close its gender pay gap.
TIERRA DEL MAR, Ore. (AP) – A county board in Oregonáhas voted in favor of a project that’s pitting residents of a tiny town against one of the world’s biggest tech companies. The Tillamook County Board of Commissioners voted yesterday to allow Facebook to use a beachfront lot in Tierra del Mar to build a landing spot for a trans-Pacific fiber optic cable. Residents worry vibrations from drilling for the cable landing will damage septic systems and foundations of some of the town’s roughly 200 homes. They say Tierra del Mar is zoned for residential use and worry the project will pave the way for other commercial ventures. Residents say they plan to appeal the decision to a state board.