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US applications for jobless benefits highest since October 2021
The number of Americans applying for unemployment benefits last week rose to its highest level since October 2021, but the labor market remains one of the healthiest parts of the U.S. economy. The Labor Department reported Thursday that U.S. applications for jobless claims were 261,000 for the week ending June 3, an increase of 28,000 from the previous week's 233,000. Weekly jobless claims are [...]
Why Biden is wary of using the 14th Amendment to address debt limit crisis
WASHINGTON (AP) — If the fight with Congress over raising the government's debt limit is such a dire threat, why doesn't President Joe Biden just raise the borrowing ceiling himself? It's theoretically possible, but he's all but ruled it out for now. The administration has been searching for possible ways to allow the U.S. to keep borrowing if Congress can't come to an agreement. One potentia[...]
Stock market: Big Tech rally steadies Wall Street
NEW YORK — A rally for Microsoft and other Big Tech stocks is helping to steady Wall Street Wednesday, a day after stocks tumbled to their worst drop in a month. The S&P 500 was 0.2% lower in afternoon trading as worries about U.S. banks that hit the market a day before remain. The Dow Jones Industrial Average was down 164 points, or 0.5%, at 33,368, as of 2:30 p.m. Eastern time, while [...]
Scientists call for halt to AI race sparked by ChatGPT
[caption id="attachment_290753" align="alignright" width="300"] The OpenAI logo is seen on a mobile phone in front of a computer screen displaying output from ChatGPT, Tuesday, March 21, 2023, in Boston. Are tech companies moving too fast in rolling out powerful artificial intelligence technology that could one day outsmart humans? That is the conclusion of a group of prominent computer scientists[...]
Army Corps delays decision on Great Lakes oil tunnel
TRAVERSE CITY, Mich. — A federal review of plans for a Great Lakes oil pipeline tunnel will take more than a year longer than originally planned, officials said Thursday, likely delaying completion of the project — if approved — until 2030 or later.
ISDA to host National Agriculture Day at state capitol
Boise, Idaho - The Idaho State Department of Agriculture will host a celebration for National Agriculture Day Tuesday, March 21 from 10:00 a.m. to 4:00 p.m. at the State Capitol Building. There will be a display recognizing Idaho agriculture on the second floor of the rotunda. It is an opportunity to learn more about Idaho agriculture and the impact our state has on today’s food system. Join th[...]
Samsung to invest $230 billion to build “mega” chip cluster
Read More IBR Headlines [feed url="https://idahobusinessreview.com/category/news/ibr-headlines/feed/" number="3"] Samsung Electronics said Wednesday it expects to invest 300 trillion won ($230 billion) over the next 20 years as part of an ambitious South Korean national project to build the world’s largest semiconductor manufacturing base near the capital, Seoul. The chip-making “mega c[...]
A 2nd wave of layoffs at Meta; 10,000 jobs cut
[caption id="attachment_290324" align="alignright" width="300"] A person stands in front of a Meta sign outside of the company's headquarters in Menlo Park, Calif., Tuesday, March 7, 2023. Facebook’s parent Meta will slash another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs. (AP Photo/Jeff Chiu)[/caption] Facebook parent Meta is slashing 10,000 jo[...]
Will the government’s moves to stabilize banks work?
[caption id="attachment_290296" align="alignright" width="300"] Facing the prospect of a third financial crisis in less than two decades, the Federal Reserve initiated a broad emergency lending program late Sunday intended to shore up confidence in the nation's financial system following the collapse of two large banks with deep ties to the tech industry. (AP Photo/Andrew Harnik, File)[/caption] [...]
Silicon Valley Bank seized by feds after historic failure
NEW YORK — The U.S rushed to seize the assets of Silicon Valley Bank on Friday after it experienced a run on the bank, the largest failure of a financial institution since Washington Mutual during the height of the financial crisis more than a decade ago. Silicon Valley, the nation's 16th largest bank, failed after depositors — mostly technology workers and venture capital-backed companies [...]
GM offers buyouts to most US salaried workers to trim costs
General Motors is offering buyouts to most of its U.S. salaried workforce and some global executives in an effort to trim costs as it makes the transition to electric vehicles. The Detroit automaker wouldn't say how many workers it is targeting, but confirmed that the move is aimed at accelerating attrition to meet a previously announced goal of $2 billion in cost cuts by the end of next year. [...]
Brands adopt AI tools despite risk
[caption id="attachment_290143" align="alignleft" width="300"] This illustration released by Instacart depicts the grocery delivery company's app which can integrate ChatGPT to answer customers' food questions. (Instacart, Inc. via AP)[/caption] Even if you haven’t tried artificial intelligence tools that can write essays and poems or conjure new images on command, chances are the companies t[...]
