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AM Business Notebook

>>Weekly Jobless Claims Unchanged At 262,000

(Washington, DC)  --  Weekly jobless claims are unchanged, with the Labor Department reporting it received 262-thousand first time requests last week.  That's exactly where they stood the week before that after being revised up by a thousand.  Most analysts were expecting today's number to come in at right around 249-thousand.    

 

>>Fed Chair: "Long Way To Go" To Get Inflation Down To 2%

(Washington, DC) -- The chair of the Federal Reserve says inflation has moderated, but there's still a long way to go to get it to two-percent. Jerome Powell yesterday spoke about the Fed's decision to leave interest rates unchanged for the first time in more than a year. Most officials anticipate two more rate increases to come this year. The fed had raised rates by a total of five-percent since March 2022 in an effort to battle rising inflation. Powell noted it will take time for the full effects of the raised rates to be felt. The Fed believes it will be able to lower rates by about a half percent by the end of next year if inflation comes down as it anticipates.

 

>>Bud Light No Longer America's Top-Selling Beer

(St. Louis, MO) -- Bud Light is no longer the top-selling beer in the U.S. Nielsen data shows that the American beer was overtaken in May by Modelo Especial, the Mexican lager brewed near Mexico City. During a four-week period that ended on June 3rd, Modelo Especial made up eight-point-four-percent of U.S retail sales. Bud Light, which previously held the top spot for more than two decades, fell to seven-point-three percent. The Anheuser-Busch brand's drop in sales comes after a recent boycott by consumers over a promotional post by a transgender influencer.

 

>>Landlord Evicts Twitter From Boulder, Colorado Office

(Boulder, CO) -- A landlord is evicting Twitter from its offices in Boulder, Colorado after the company failed to pay its rent. A Boulder district court judge issued an eviction notice to the company late last month, ordering Twitter to return its suites to the owner of the property. The landlord asked Twitter to pay the outstanding amount several times but received no response. The company is also being sued by a cleaning contractor for nearly 100-thousand dollars in unpaid invoices.

 

>>EU Takes Aim At Google With Antitrust Charge

(Brussels) -- The European Union is charging Google with violating antitrust laws in using its dominance in online advertising to hamstring rivals. The charge announced Wednesday marks the fourth time the tech giant has been accused of breaking European antitrust laws. Online ads are at the core of Google's business, bringing in nearly 60 billion-dollars in profit for parent company Alphabet last year. The U.S. Justice Department filed similar charges in January and the UK is also investigating the company's business practices.

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