Business

California’s Economy Pinched by Unemployment
Business

California’s Economy Pinched by Unemployment

For decades, California’s behemoth economy has outpaced those of most nations, holding an outsize role in shaping global trends in tech, entertainment and agriculture.While that reputation remains, the state has a less enviable distinction: one of the nation’s highest unemployment rates.Nationwide, the rate is 3.7 percent, and in January, the country added 353,000 jobs. California’s job growth has been slower than the nationwide average over the last year, and the unemployment rate remains stubbornly high — 5.1 percent in the latest data, a percentage point higher than a year earlier and outpaced only by Nevada’s 5.4 percent.With layoffs in the tech-centered Bay Area, a slow rebound in Southern California from prolonged strikes in the entertainment industry and varying demand for agricultu...
U.S. Proposes New Rules to Ease Flying for Travelers in Wheelchairs
Business

U.S. Proposes New Rules to Ease Flying for Travelers in Wheelchairs

The Biden administration announced on Thursday that it was proposing new regulations for how airlines must treat passengers in wheelchairs, an effort aimed at improving air travel for people with disabilities.Under the proposed rule, damaging or delaying the return of a wheelchair would be an automatic violation of an existing federal law that bars airlines from discriminating against people with disabilities. The Transportation Department said that change would make it easier for the agency to penalize airlines for mishandling wheelchairs.The proposed regulations would also require more robust training for workers who physically assist disabled passengers or handle their wheelchairs.“There are millions of Americans with disabilities who do not travel by plane because of inadequate airline...
Yellen Urges Israel to Restore Economic Ties to West Bank
Business

Yellen Urges Israel to Restore Economic Ties to West Bank

Treasury Secretary Janet L. Yellen said on Tuesday that she had personally urged Prime Minister Benjamin Netanyahu of Israel to increase commercial engagement with the West Bank, contending that doing so was important for the economic welfare of both Israelis and Palestinians.Ms. Yellen’s plea was outlined in a letter that she sent to Mr. Netanyahu on Sunday. It represented her most explicit public expression of concern about the economic consequences of the war between Israel and Hamas. In the letter, Ms. Yellen said, she warned about the consequences of the erosion of basic services in the West Bank and called for Israel to reinstate work permits for Palestinians and reduce barriers to commerce within the West Bank.“These actions are vital for the economic well-being of Palestinians and ...
AT&T Offers $5 Credit After Widespread Service Outage
Business

AT&T Offers $5 Credit After Widespread Service Outage

AT&T will offer a $5 credit to customers affected by a widespread outage on Thursday that was caused by technical issues the company encountered while trying to expand its network, its chief executive said on Sunday.The outage, which started around 3:30 a.m. Eastern time, temporarily cut off connections for users across the United States.Some of the affected cities included Atlanta, Los Angeles and New York, according to Downdetector.com, which tracks user reports of telecommunication and internet disruptions.At its peak, the site had received about 70,000 reports of disrupted service for AT&T. Service was fully restored after about seven hours.“No matter the timing, one thing is clear — we let down many of our customers, including many of you and your families,” the chief executiv...
What Is Your Housing Situation? We Want to Hear From You.
Business

What Is Your Housing Situation? We Want to Hear From You.

“No society can be fully understood apart from the residences of its members.”I have that quote (from “Crabgrass Frontier,” the seminal history of America’s suburbs) taped to a wall behind my desk. It summarizes why I love covering housing for The New York Times and seem never to run out of things to write about. Housing is everything. It’s where we live and raise our families. It is most people’s largest store of wealth. Whether you own, you rent, or you sleep outside, where you hang your head defines much of your existence.Over the past few decades, and especially since the pandemic, housing has gone from a symbol of American strength to an everyday crisis. Aspiring homeowners are becoming forever renters. People live in increasingly crowded households, the supply of illegal housing has ...
China’s Hacker Network: What to Know About the I-Soon Document Leak
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China’s Hacker Network: What to Know About the I-Soon Document Leak

Leaked documents posted online last week show how the Chinese government is working with private hackers to obtain sensitive information from foreign governments and companies.The hackers worked for a security firm called I-Soon, part of a network of spies for hire working closely with Beijing.The leak showed how China’s top surveillance agency, the Ministry of Public Security, has increasingly recruited contractors to attack government targets and private companies as part of a cyberespionage campaign in Asia. The leak is likely to stoke fears among leaders in Washington who have warned against such attacks in the United States.What information was revealed?I-Soon targeted telecommunications firms, online gambling companies and local governments throughout Asia. Its hackers were able to g...
For Michigan’s Economy, Electric Vehicles Are Promising and Scary
Business

For Michigan’s Economy, Electric Vehicles Are Promising and Scary

Last fall, Tiffanie Simmons, a second-generation autoworker, endured a six-week strike at the Ford Motor factory just west of Detroit where she builds Bronco S.U.V.s. That yielded a pay raise of 25 percent over the next four years, easing the pain of reductions that she and other union workers swallowed more than a decade ago.But as Ms. Simmons, 38, contemplates prospects for the American auto industry in the state that invented it, she worries about a new force: the shift toward electric vehicles. She is dismayed that the transition has been championed by President Biden, whose pro-labor credentials are at the heart of his bid for re-election, and who recently gained the endorsement of her union, the United Automobile Workers.The Biden administration has embraced electric vehicles as a me...
William Beecher, Who Revealed Secret Cambodia Bombing, Dies at 90
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William Beecher, Who Revealed Secret Cambodia Bombing, Dies at 90

William Beecher, who as a reporter for The New York Times revealed President Richard M. Nixon’s secret bombing campaign over Cambodia during the Vietnam War, and who later won a Pulitzer Prize at The Boston Globe, died on Feb. 9 at his home in Wilmington, N.C. He was 90.His daughter, Lori Beecher, and son-in-law, Marc Burstein, confirmed the death.President Nixon ordered the bombings, code-named Operation Menu, in March 1969 in response to stepped-up attacks by the North Vietnamese Army and South Vietnamese guerrillas based in Cambodia, a neutral country. The campaign was so secret that even William P. Rogers, the secretary of state, was unaware of it.Mr. Beecher’s article about the bombings, which appeared on the front page of The Times on May 9, 1969, noted that in the previous two weeks...
The Great Compression – The New York Times
Business

The Great Compression – The New York Times

Robert Lanter lives in a 600-square-foot house that can be traversed in five seconds and vacuumed from a single outlet. He doesn’t have a coffee table in the living room because it would obstruct the front door. When relatives come to visit, Mr. Lanter says jokingly, but only partly, they have to tour one at time.Each of these details amounts to something bigger, for Mr. Lanter’s life and the U.S. housing market: a house under $300,000, something increasingly hard to find. That price allowed Mr. Lanter, a 63-year-old retired nurse, to buy a new single-family home in a subdivision in Redmond, Ore., about 30 minutes outside Bend, where he is from and which is, along with its surrounding area, one of Oregon’s most expensive housing markets.Mr. Lanter’s house could easily fit on a flatbed truc...
Grover Is Now a Reporter. Journalists Aren’t Optimistic.
Business

Grover Is Now a Reporter. Journalists Aren’t Optimistic.

Grover, the furry blue Muppet from “Sesame Street,” is known for working lots of jobs over the years, including astronaut and dentist. Now he is apparently a journalist.“As a news reporter, I always do my research before I break a story,” he wrote Monday on X. “I am confident to report that you are so special and amazing!”Some fellow journalists welcomed him into the profession, albeit with some ribbing about the reliability of his reporting and his professionalism. “Who are your sources,” wrote Danielle Kurtzleben, a reporter with National Public Radio, which published a separate news story about Grover’s foray into journalism.Others predicted that his career would be short given the dire state of the news industry, which has been hit with unrelenting rounds of layoffs and closures in rec...