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AM Business Notebook

>>White House "Will Not Negotiate" On Debt Ceiling (Washington, DC)

-- The White House will not negotiate on raising the debt ceiling. The White House deputy press secretary said Congress must act to do so without conditions. Her comments come as many Republicans in the House have demanded spending cuts to increase the limit. The debt ceiling refers to the maximum amount the U.S. government can spend on its existing obligations.

 

>>Top Fed Official Predicts High Rates For "Some Time" (Chicago, IL)

-- Interest rates need to remain high despite signs inflation is easing. That's according to Federal Reserve Governor Lael Brainard. While speaking in Chicago, she said the central bank will have to keep rates elevated for some time to bring inflation down to the two-percent goal. Her comments come less than two weeks before the rate-setting committee holds its next meeting.

 

>>U.S. Union Membership Falls To Record Low In 2022 (Washington, DC)

-- Union membership in the U.S. fell to an all-time low last year. The Bureau of Labor Statistics reported on Thursday that the percentage of American workers who belong to a union fell to ten-point-one percent in 2022, down from ten-point-three percent the year before. The shrinkage in union membership comes despite a surge in organizing efforts. The National Labor Relations Board, which oversees union elections, reported a 53-percent increase in petitions to form or join unions last year.

 

>>Netflix Adds Millions More Subscribers (Los Gatos, CA)

-- Netflix added millions more subscribers in the fourth quarter than analysts expected. The streaming giant announced Thursday that it added more than seven-point-six million subscribers worldwide during the last three months of 2022. Wall Street analysts expected just over four-point-five million new subscribers. That news overshadowed Netflix missing earnings estimates, posting 12 cents per share against estimates of 45 cents. Fourth quarter revenue of seven-point-85 billion dollars matched estimates.

 

>>T-Mobile Instigating Data Breach Affecting 37-Million Accounts (Undated)

-- T-Mobile is investigating a data breach that could affect as many as 37-million accounts. The telecoms company said on Thursday that it identified malicious activity and contained it. T-Mobile said no sensitive data, such as financial information, was compromised.

 

>>Amazon Warehouse In Orange County Cited By Feds For Safety Hazards (New Windsor, NY)

-- Federal investigators say that an Amazon warehouse in Orange County, New York is one of three in the U.S. being cited for unsafe working conditions. Federal regulators from the Occupational Safety and Health Administration say workers at the warehouse in New Windsor are at high risk for back injuries from constantly moving and stacking heavy packages. Amazon is also being fined for unsafe conditions at a warehouse in Florida and another in Illinois. The company must pay just over 60-thousand dollars in fines, but the word is that Amazon plans to appeal.

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