Good morning and happy easter Here are the top stories of business and technology to learn further for the week. – Charlotte Cowles
What’s up? (28 March – 3 April)
light at the end of the tunnel
Employers 916,000 jobs added steadily in March, More than doubling the February employment growth. Many of the works were in hospitality and construction, inspired by the increasing pace of vaccination and a new round of federal aid. (The spring weather didn’t hurt either.) In other good news, Wall Street Hit a record high last week, Closed for the first time with the S&P 500 index above 4,000.
President Biden proposed for this A huge infrastructure package, Which he called “the largest US employment investment since World War II”. It also has a large price tag, valued at $ 2 trillion over about eight years. The aim of the scheme is to repair thousands of old bridges, roads and plumbing systems, improve commute times and provide drinking water systems. It also includes 100 billion dollars Deliver broadband internet to rural areas This conflicts with spotty Wi-Fi. And it will invest heavily like a green initiative Electric car more efficient energy grid. But faced the offer A difficult path through congress, As Republicans Corporate taxes oppose increases Mr Biden says it will have to be paid for.
More Student Debt Relief
Anyone with a federal student loan does not have to pay back on them for about a year. But those with private student loans have not received any break so far. education Department Will temporarily stop collecting payments About six million loans that were made through the federal Family Education Loan Program and are now privately held. There is a catch: only borrowers have defaulted who will receive a reimbursement. This step will temporarily prevent defaulters who have forfeited wages or tax refunds by collectors, and will refund any refunds or wages taken from March 2020.
What will happen next? (4-10 April)
Blue sky ahead
The airline industry showed some promising signs of life last week. After about a year, Domestic holiday bookings are bouncing back. United Airlines is Hiring pilots againStarting with those who had conditional job offers before the epidemic or whose start dates were once pushed into travel restrictions. Delta Air Lines is the last major gripe in blocking middle seats to ensure space between passengers, Resume middle seat booking In May. And finally, budget carrier Frontier Airlines went public, A sign that it is anticipating a rebound.
Out of the mud
After six days of digging and tugging, a boost from a full moon, huge container ship that was lodged in the Suegel Canal Has been freed, And The waterway is open for business again. But the ripple effect of its blockage will be felt for weeks. Stuck boat $ 10 billion worth of cargo intercepted One day from advancing through the canal, and costing the Egyptian government up to $ 90 million in lost toll revenue. Who will pay the loss? A fleet of insurance companies, government officials and attorneys are settling everyone, who is financially responsible (probably the Japanese owner of the stuck ship) and how much they owe to Hook.
Supply, meet demand
As the global economy is back in gear, fuel demand is increasing. And there were some questions whether the oil producers would increase their supply to meet this? If they did not choose, Gas can be up to $ 4 a gallon Until this summer – not exactly welcome news for anyone trying to drive to work. But OPEC and its allies put those fears to rest last week Agreed to increase production gradually Over the next three months, which should keep prices stable.
Two corporations with big footprints in Georgia, Coca-Cola and Delta Air Lines, involved more than 70 black executives from across the country Speaking out against the new state law Restricts access to voting. New York prosecutors have Broke personal bank records Former President Donald J. The Trump Organization’s chief financial officer, Alan H., as part of his investigation into the business dealings of Trump and his family company. There are Vesselbergs. And a group of doctors have Sued the insurance company of the united kingdom And it accused the competition of hurting them and their business.