MADISON — A new report shows Wisconsin’s unemployment rate hit a record low in February. The state Department of Workforce Development released data Thursday that shows the unemployment rate dipped to 2.9 percent in February, down 0.2 percent from January. The previous record was 3 percent unemployment in July 1999.
SEATTLE — Amazon has become the second most valuable publicly traded company in the world. The retailer on Tuesday topped Google parent Alphabet, landing for the first time in the No. 2 spot by the stock market’s reckoning, behind only Apple. Amazon shares climbed $41.58, or 2.7 percent, to $1,586.51, giving the company a market capitalization of about $768 billion. Alphabet, after falling $2.11, or 0.2 percent, to $1,097.71 a share, stood at $762.9 billion. Apple was valued at
WASHINGTON — As the Trump administration barrels ahead with its plan to apply stiff tariffs on imported metals starting Friday, governments and businesses around the world are in a fog about what is happening and are bracing for at least a short-term hit because of what many criticize as the administration’s slapdash process. When President Donald Trump announced the tariffs March 8 — 25 percent on steel and 10 percent on aluminum — he exempted Mexico and Canada,
MADISON — A tax break package designed to stop giant papermaker Kimberly-Clark from eliminating 600 jobs in northeast Wisconsin appears to be dead in the state Legislature. Republican Senate Majority Leader Scott Fitzgerald said Tuesday he is hopeful that Gov. Scott Walker’s administration can continue working with the company and possibly take action without needing the Legislature to pass a bill. The Assembly previously approved the bill modeled after incentives given for the
MILWAUKEE — Foxconn Technology Group has selected some key companies to begin building its massive flat screen manufacturing complex in Racine County, the Taiwanese company announced Tuesday. Foxconn has selected general contractor and engineering consultants with ties to Wisconsin to begin construction of the $10 billion manufacturing center that could eventually employ as many as 13,000 people. M+W Gilbane will serve as the construction manager and will oversee the budget and bid
SAN FRANCISCO — As a teenager working for his dad’s construction business, Noah Ready-Campbell dreamed that robots could take over the dirty, tedious parts of his job, such as digging and leveling soil for building projects. Now the former Google engineer is turning that dream into a reality with Built Robotics, a startup that’s developing technology to allow bulldozers, excavators and other construction vehicles to operate themselves. “The idea behind Built Robotics
NEW YORK — Facebook plunged to its worst loss in four years Monday and led a rout in technology companies. The social media company’s stock fell following reports that a data mining firm working for the Trump campaign improperly obtained data on 50 million Facebook users. The drop in Facebook stock came after the New York Times and the Guardian reported that the firm, Cambridge Analytica, was able to tap the profiles of more than 50 million Facebook users without their permission.
Interns hoping to get a full day’s pay might find it tougher to do so under revised federal guidelines that help determine whether an internship should be paid. The new rules give employers more flexibility in taking on unpaid interns, experts said. Unpaid internships have been around for decades. But the U.S. Labor Department in 2010 developed more stringent guidelines about when interns must be paid. The department instituted a six-part test, and employers had to satisfy every
DALLAS — A federal appeals court struck down an Obama-era rule requiring retirement account managers to put their clients’ interests ahead of their own, handing a victory to the U.S. Chamber of Commerce and other business groups. The U.S. Court of Appeals for the Fifth Circuit in New Orleans ruled 2-1 to vacate the fiduciary rule, noting that the Trump administration directed the Labor Department to re-examine the rule and prepare an updated analysis of its provisions, some of
LOS ANGELES — Wells Fargo & Co. failed to notify some customers about its $142-million class-action settlement over its unauthorized accounts scandal — an error that could give customers more time to participate in the deal but contribute to months of delay in receiving payments. The bank last month told attorneys representing customers that it did not send required letters or emails to all current and former customers who should have been notified, according to a court filing