JOBLESS CLAIMS LOWEST IN 44 YEARS
WASHINGTON» The number of Americans collecting unemployment benefits fell last week to the lowest level in 44 years, another sign that most workers enjoy job security.
The Labor Department says claims for jobless aid dropped by 22,000 to 222,000, fewest since March 1973. The less-volatile fourweek average slid by 9,500 to 248,250, lowest since late August.
Unemployment claims are a proxy for layoffs. The low level suggests that employers are confident enough in the economy to hold onto workers. The unemployment rate last month hit 4.2 percent, a 16-year low.
GM reaches settlement for faulty switches.
DETROIT» General Motors Co. has reached a $120 million settlement with 49 states and the District of Columbia over its defective ignition switches.
GM recalled 2.6 million small cars worldwide in 2014 because their ignition switches could slip from the “run” position to the “off” position, shutting off the engine.
Colorado is among the 49 states.
Blue Origin rocket test a success.
In a tweet Tuesday afternoon, Jeff Bezos’ Blue Origin space company said its first “hotfire” test of its BE-4 engine was a success.
It’s a significant milestone for the company as it works to develop a massive new rocket it calls New Glenn, and sell the engine to the United Launch Alliance, the joint venture of Lockheed Martin and Boeing.
Conservatives oppose Yellen.
President Donald Trump concluded a White House meeting Thursday with Federal Reserve Chair Janet Yellen as House conservatives mounted a campaign to persuade him not to reappoint her.
Rep. Warren Davidson is circulating a letter for colleagues on the House Financial Services Committee to sign against Yellen’s reappointment, he said.
JetBlue won’t sell on some travel websites.
JetBlue has stopped selling tickets on a dozen smaller travel websites in hopes of driving customers to the airline’s own site and reducing the company’s costs.
The airline on Thursday said the change was the first step in revamping its system of selling tickets online.
Stitch Fix does IPO.
» Stitch Fix, NEW YORK an online clothing styling service, has filed to go public. The company is one of several that ships shoppers clothing to try on at home before they buy.
It’s always sunny in Pittsburgh?
PITTSBURGH»
Facebook users in Pittsburgh and other western and central Pennsylvania locations have found themselves transplanted to Philadelphia for a day.
A glitch on the social media site caused Pittsburghers and others to receive Facebook notifications welcoming them to the City of Brotherly Love on Wednesday.