Starbucks workers in Los Angeles, Chicago, and Seattle launched a five-day strike on Friday, expressing dissatisfaction with the company’s actions regarding collective bargaining and labor negotiations.
U.S. stocks fell sharply on Wednesday, erasing earlier gains after the Federal Reserve announced a 25 basis point rate cut and projected a slower pace of rate reductions for next year.
The Federal Reserve made its third consecutive interest rate cut on Wednesday, reducing its benchmark rate by a quarter of a percentage point. The move, widely anticipated by investors and financial markets, brings the federal funds rate to a target range of 4.25 percent to 4.50 percent. Since beginning its rate cuts in September, the Fed has now lowered rates by a total of 100 basis points, or one percentage point.
Florida Governor Ron DeSantis pushed back against "false media narratives" about illegal immigration, following a report highlighting the state's economic growth.
President Joe Biden moved to establish the Frances Perkins National Monument in Newcastle, Maine, to "honor the historic contributions of America’s first woman Cabinet Secretary and the longest-serving Secretary of Labor," a White House fact sheet says.
President-elect Donald Trump is looking to privatize the U.S. Postal Service, according to a report from The Washington Post. Sources familiar with the development told the publication that Trump discussed the matter with Commerce Secretary pick Howard Lutnick.
Every Republican member of the Michigan House of Representatives walked out of session on Friday, protesting the Democrats’ refusal to address concerns over upcoming changes to the state’s tipped minimum wage system.
The U.S. Supreme Court has agreed to hear the case Catholic Charities Bureau, Inc. v. Wisconsin Labor Review Commission et al., which involves the Catholic Charities Bureau's request for a religious tax exemption in Wisconsin.
