Trump's job market promises fall flat as hiring collapses and inflation ticks up
WASHINGTON (AP) — The U.S. job market has gone from healthy to lethargic during President Donald Trump’s first seven months back in the White House. Friday’s jobs report showed employers added a mere 22,000 jobs in August, as the unemployment rate ticked up to 4.3%. Factories and construction firms shed workers. The new data exposed the widening gap between the booming economy Trump promised and the more anemic reality of what he’s managed to deliver so far. The White House prides itself on operating at a breakneck speed, but it’s now asking the American people for patience, with Trump saying better job numbers might be a year away.
Secret audios, dramatic leaks, spying claims: A bribery scandal engulfs Argentina's Milei
BUENOS AIRES, Argentina (AP) — Argentines have been captivated by a growing corruption scandal involving President Javier Milei's close associates. Allegations suggest that Milei's powerful sister, Karina, profited from a kickback scheme in Argentina’s disability agency. These claims have surfaced during a time of extreme fiscal austerity, threatening the government's reputation ahead of national midterms. The scandal broke when leaked audio implicated top officials in accepting bribes. Milei denies the allegations and has dismissed the recordings as false. The situation has intensified, with press freedom groups criticizing the government's response and Karina Milei becoming a focal point of public outrage.
Postal traffic to US sank 80% after Trump administration ended exemption on low-value parcels
The U.N. postal agency says postal traffic into the United States plunged by more than 80% after a Trump administration move to end a tariff exemption for low-cost imports. The Universal Postal Union says it has started rolling out new measures that can help postal operators around the world calculate and collect duties. The U.S. on Aug. 29 eliminated an exemption that had allowed U.S.-bound parcels valued at $800 or less to avoid customs charges. The UPU says 88 national postal operators have suspended some or all postal services to the U.S. as a result.
US hiring stalls with employers reluctant to expand in an economy grown increasingly erratic
WASHINGTON (AP) — The American job market, a pillar of U.S. economic strength since the pandemic, is crumbling under the weight of President Donald Trump’s erratic economic policies. Uncertain about where things are headed, companies are reluctant to hire, leaving agonized jobseekers unable to find work and worrying the consumers (70% of U.S. economic activity) whose spending has driven impressive growth for the world’s biggest economy since the COVID-19 disruptions of 2020. The Labor Department reported Friday that U.S. employers — companies, government agencies and nonprofits — added just 22,000 jobs last month, down from a 79,000 in July and well below the 80,000 that economists had expected. The unemployment rate ticked up to 4.3% last month, the highest since 2021.
Fox News thrives two years after court settlement, but 2020 election coverage fight goes on
NEW YORK (AP) — Fox News seemed to be dealt a crippling blow in a $787 million settlement of a libel lawsuit more than two years ago, but has instead thrived. Fox's ratings are at a high when most television networks are sliding, including news rivals CNN and MSNBC, and Fox is the go-to source to distribute news for the new Trump administration. Yet court cases regarding coverage of the 2020 election aftermath involving outlets where Trump supporters gather are continuing. In its own recent settlement of a libel case, the conservative Newsmax network has learned that expressing regrets or apologizing doesn't pay.
Trillion dollar man: New pay package could make Musk that much richer if Tesla thrives
Tesla is asking its investors to approve a proposed compensation package for CEO Elon Musk that could be worth almost $1 trillion and is based on the electric vehicle maker hitting certain ambitious milestones over the next decade. The company, which is also leaning heavily into robotics and AI, said in a regulatory filing on Friday that the package includes a dozen share tranches that will be given to Musk if it hits certain targets over the 10-year period. To achieve the initial amount in the compensation plan, Tesla would need to hit a market cap of $2 trillion, double its current valuation.
Anthropic to pay authors $1.5 billion to settle lawsuit over pirated books used to train AI chatbots
NEW YORK (AP) — Artificial intelligence company Anthropic has agreed to pay $1.5 billion to settle a class-action lawsuit by book authors who say the company took pirated copies of their works to train its chatbot. The landmark settlement, if approved by a judge as soon as Monday, could mark a turning point in legal battles between AI companies and the writers, visual artists and other creative professionals who accuse them of copyright infringement. The company has agreed to pay authors or publishers about $3,000 for each of an estimated 500,000 books covered by the settlement.
Stocks wobble as Wall Street wrangles with whether the job market is too weak
NEW YORK (AP) — U.S. stocks wobbled lower as Wall Street questioned whether the U.S. job market has slowed by just enough to get the Federal Reserve to cut interest rates to help the economy, or by so much that a downturn may be on the way. After rising to an early gain Friday, the S&P 500 erased it and fell 0.3% from the all-time high set the day before. The Dow Jones Industrial Average dropped 0.5%, and the Nasdaq composite was nearly flat. Still, more stocks rose than fell. The action was more decisive in the bond market, where yields tumbled following discouraging data on the job market.
Homeland security official says 475 people were detained during an immigration raid in Georgia
ELLABELL, Ga. (AP) — U.S. immigration officials say some 475 people were detained during an immigration raid at a sprawling Georgia site where South Korean auto company Hyundai manufactures electric vehicles. South Korean Foreign Ministry spokesperson Lee Jaewoong described the number of detained South Koreans as “large,” though he did not provide an exact figure. No charges were immediately announced. Officials from Homeland Security Investigations say the raid resulted from a monthslong investigation into allegations of illegal hiring at the site and was the largest single-site enforcement operation in the agency’s two-decade history.
Warner Bros. sues Midjourney for AI-generated images of Superman, Bugs Bunny and other characters
Warner Bros. is suing the AI company Midjourney for copyright infringement. The lawsuit claims Midjourney allows users to create AI-generated images and videos of copyrighted characters like Superman and Bugs Bunny. This is the third lawsuit against Midjourney by a major Hollywood studio, following Disney and Universal's joint lawsuit in June. The lawsuit alleges Midjourney trained its AI on illegal copies of Warner Bros. works and misleads users into thinking the generated content is authorized. Midjourney has not responded to the lawsuit. The company's CEO previously compared the service to a search engine, suggesting AI learning is similar to human creativity.
