Amazon's return-to-office mandate sparks disability complaints
Get Starting Point
A guide through the most important stories of the morning, delivered Monday through Friday.
Enter Email
Sign Up
GOVERNMENT
Advertisement
Ex-congressman Billy Long confirmed as commissioner of the IRS, an agency he once sought to abolish
Advertisement
Former US Representative Billy Long of Missouri will take over an IRS undergoing massive change, including layoffs and voluntary retirements of tens of thousands of workers and accusations that then-Trump adviser Elon Musk's Department of Government Efficiency mishandled sensitive taxpayer data.
Andrew Harnik/Getty
Former US Representative Billy Long of Missouri was confirmed on Thursday to lead the Internal Revenue Service, giving the beleaguered agency he once sought to abolish a permanent commissioner after months of acting leaders and massive staffing cuts that have threatened to derail next year's tax filing season. The Senate confirmed Long on a 53-44 vote despite Democrats' concerns about the Republican's past work for a firm that pitched a fraud-ridden coronavirus pandemic-era tax break and about campaign contributions he received after President Trump nominated him to serve as IRS commissioner. While in Congress, where he served from 2011 to 2023, Long sponsored legislation to get rid of the IRS, the agency he is now tasked with leading. A former auctioneer, Long has no background in tax administration. Long will take over an IRS undergoing massive change, including layoffs and voluntary retirements of tens of thousands of workers and accusations that then-Trump adviser Elon Musk's Department of Government Efficiency mishandled sensitive taxpayer data. Unions and advocacy organizations have sued to block DOGE's access to the information. The IRS was one of the highest-profile agencies still without a Senate-confirmed leader. Before Long's confirmation, the IRS shuffled through four acting leaders, including one who resigned over a deal between the IRS and the Department of Homeland Security to share immigrants' tax data with Immigration and Customs Enforcement and another whose appointment led to a fight between Musk and Treasury Secretary Scott Bessent. — ASSOCIATED PRESS
RETAIL
GameStop's future is in trading cards, CEO says
A GameStop store in New York City.
Michael M. Santiago/Getty
GameStop Corp., the largest standalone video game retailer in the United States, will focus on growing its trading card business, chief executive Ryan Cohen said at the company's annual shareholder meeting Thursday. The business of Pokémon and sports trading cards 'is in line with our heritage,' Cohen said. 'It fits our trade-in model, it appeals to our core customer base and it's deeply embedded in physical retail.' GameStop workers regularly encounter lines of customers waiting outside for Pokémon card launches. Fans of the nearly 30-year-old card game trade and battle the cards against each other. At GameStop, collectors can sell rare cards for cash based on their quality. As of May, customers have brought one million trading cards in to a GameStop to be evaluated under the Professional Sports Authenticator system, which grades the cards. More than 1,360 GameStop stores offer that service, according to a company spokesperson. In June, GameStop will add 280 more. The most submitted cards are Pokémon. As consumers increasingly turn to digital stores to purchase video games, GameStop has grown its collectibles business. Collectibles made up 29 percent of revenue in the first-quarter. That business increased 55 percent, while sales of hardware and software fell, according to results released on Tuesday. — BLOOMBERG NEWS
Advertisement
LABOR
The number of Americans filing for jobless claims last week remains at the highest level in 8 months
Job seekers at a Diversity Career Group job fair in Los Angeles.
Eric Thayer/Bloomberg
US filings for jobless benefits were unchanged last week, remaining at the higher end of recent ranges as uncertainty over the impact of trade wars lingers. New applications for jobless benefits numbered 248,000 for the week ending June 7, the Labor Department said Thursday. Analysts had forecast 244,000 new applications. A week ago, there were 248,000 jobless claim applications, which was the most since early October and a sign that layoffs could be trending higher. Weekly applications for jobless benefits are considered representative of US layoffs and have mostly bounced around a historically healthy range between 200,000 and 250,000 since COVID-19 throttled the economy five years ago, wiping out millions of jobs. However, in the past three weeks layoffs have been at the higher end of that range, raising some concern from analysts. — ASSOCIATED PRESS
Advertisement
LEGAL
Tesla sues ex-Optimus engineer alleging theft of robotic trade secrets
A Tesla Inc. Optimus robot at the Paris Motor Show.
Nathan Laine/Bloomberg
Tesla Inc. sued a former engineer with the company's highly secretive Optimus program, accusing him of stealing confidential information about the humanoid robot and setting up a rival startup in Silicon Valley. Zhongjie 'Jay' Li worked at Tesla between August 2022 and September 2024, according to a complaint filed in a San Francisco Federal Court late Wednesday. Li worked on 'advanced robotic hand sensors — and was entrusted with some of the most sensitive technical data in the program,' Tesla's lawyers said in the complaint. The suit, also filed against his company Proception Inc, alleges that in the weeks before his departure, Li downloaded Optimus-related files onto two personal smartphones and then formed his own firm. 'Less than a week after he left Tesla, Proception was incorporated,' according to the complaint. 'And within just five months, Proception publicly claimed to have 'successfully built' advanced humanoid robotic hands — hands that bear a striking resemblance to the designs Li worked on at Tesla.' Li, who lists himself as founder and CEO of Proception on LinkedIn, didn't respond to requests for comment sent outside of normal working hours on the platform. The company didn't immediately respond to an emailed message seeking comment or message sent through its website. Proception is based in Palo Alto, Calif. — BLOOMBERG NEWS
ARTIFICIAL INTELLIGENCE
Mattel taps OpenAI to help it design toys, other products
Barbie Dream Besties, from Mattel, displayed at the TTPM 2024 Holiday Showcase event in New York.
Richard Drew/Associated Press
Polly Pocket may one day be your digital assistant. Mattel Inc., the maker of Barbie dolls and Hot Wheels cars, has signed a deal with OpenAI to use its artificial intelligence tools to design and in some cases power toys and other products based on its brands. The collaboration is at an early stage, and its first release won't be announced until later this year, Brad Lightcap, OpenAI's chief operating officer, and Josh Silverman, Mattel's chief franchise officer, said in a joint interview. The technology could ultimately result in the creation of digital assistants based on Mattel characters, or be used to make toys and games like the Magic 8 Ball or Uno even more interactive. 'We plan to announce something towards the tail end of this year, and it's really across the spectrum of physical products and some experiences,' Silverman said, declining to comment further on the first product. 'Leveraging this incredible technology is going to allow us to really reimagine the future of play.' — BLOOMBERG NEWS
Advertisement
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
Sen. John Kennedy and Linda McMahon make significant math error in congressional hearing
On Tuesday, Secretary of Education Linda McMahon tested before the Senate on behalf of Trump's 2026 budget. During this hearing, McMahon and Louisiana Sen. John Kennedy were discussing federal spending for grant programs for disadvantaged students when the pair made a significant mathematical error. The math error occurred when the two spoke on how much the government has spent in the duration of ten years on TRIO and the Gaining Early Awareness and Readiness for Undergraduate Programs (GEAR UP). After McMahon confirmed to Kennedy that the government spends approximately $1.58 billion a year on TRIO and has been funding this program for over ten years, Kennedy said, "So that's over a trillion dollars that we've spent on this program..." "We give this money, as I appreciate it, to colleges and universities to encourage poor kids to go to college,' said Kennedy before he went on to imply that colleges have been stealing this grant money from the government for their own purposes, The New Republic reported. McMahon failed to catch and correct Kennedy's math error, however, Sen. John Reed spoke up and corrected the counting mistake. 'I'm not a great mathematician, but I think you were talking about a trillion dollars? I believe $1.5 billion times 10 is $15 billion, and that's a little bit off from a trillion dollars,' said Reed. McMahon said in response that the budget cuts $1.2 billion, to which Reed then replied, "Well that would be $12 billion, not a trillion dollars." Presley Bo Tyler is a reporter for the Louisiana Deep South Connect Team for Gannett/USA Today. Find her on X @PresleyTyler02 and email at PTyler@ This article originally appeared on Shreveport Times: Sen. John Kennedy math error. What he said education costs
Axios
30 minutes ago
- Axios
Public media funding cuts hit Chicago: WBEZ, WTTW brace for impact
President Trump and the Republican-majority U.S. House moved one step closer to cutting funding for public media, putting local organizations in limbo. The latest: The House passed a bill Thursday afternoon to cancel over $1 billion in funding for PBS and NPR, via the Corporation for Public Broadcasting. This funding was included in the 2025 fiscal year budget, but this action removes it. Why it matters: Federal funding for public media could vanish — and Chicago stations like WBEZ and WTTW are bracing for the fallout. The big picture: The move breaks decades of bipartisan tradition treating CPB funding as apolitical and throws public media companies into budgetary chaos. What they're saying: "If approved, this cancellation of funding would eliminate critical investments, stripping resources that we use to power independent journalism, educational programming, emergency alerts and the infrastructure that supports the entire network of newsrooms nationwide," Chicago Public Media CEO Melissa Bell wrote to station members. "This could threaten the ability of PBS, and member stations like WTTW, to operate autonomously," a WTTW spokesperson said in a statement. By the numbers: The cuts would amount to about 6 percent of Chicago Public Media's budget, which the organization estimates to be about $3 million annually. That's not factoring in possible syndication costs handed down by National Public Radio, which is also losing funding from this bill. For WTTW, 10% of its 2024 budget came from federal funding. Zoom in: Chicago Public Media and WTTW (which also includes WFMT-FM) are among the largest public media organizations. Chicago Public Media (WBEZ/Sun-Times) reported revenue of $70 million for 2024, while WTTW had a total operating budget of $32.7 million. Both organizations receive significant revenue from member donations. Yes, but: Smaller Illinois radio stations, such as WILL-FM in Urbana, WUIS-FM in Springfield, and WNIJ-FM in DeKalb, have significantly higher federal funding, in some cases accounting for half of their budgets. Those stations are attached to local universities. Zoom out: It's unclear if the organizations will supercharge fundraising to attract more private donors or cut back on programming and staff. Chicago Public Media recently cut staff at both the Sun-Times and WBEZ. The intrigue: The rescission package aims to claw back funding that Congress previously approved for fiscal year 2025. It primarily consists of cuts identified by DOGE, which include funding for foreign aid programs such as USAID. The Corporation for Public Broadcasting's funding is usually allocated every two years, so this cuts the second year of funding and puts future allocations in serious doubt. The rescission bill is rare in government. Trump attempted to use it during his first term, but was defeated in the Senate. Between the lines: Republicans have increasingly painted public media as left-leaning and biased, citing PBS programs like "Sesame Street" as "woke propaganda." The other side: Public media offers a variety of independent programming from news, culture, food and children's programs, funded to avoid programming influenced by corporations and commercials.
San Francisco Chronicle
30 minutes ago
- San Francisco Chronicle
Unrest in the Middle East threatens to send some prices higher
Israel's attack on Iran Friday has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households. Oil and gold surged and the dollar rose as markets retreated, signaling a flight to investments perceived as more safe. After years of sky-high inflation in the aftermath of the COVID-19 pandemic, Americans have become increasingly leery about the economy this year due to President Donald Trump's sweeping tariffs, though the impact so far has been muted. The latest escalation in the Middle East has the potential to cause widespread price increases that could set consumers back again. Here's a look at some of the sectors that could face an outsized impact from the escalation in the Middle East, and what that might mean for consumers. Energy Oil prices surged Friday to their biggest gain since the onset of Russia's war on Ukraine began more than three years ago. If or when Israel's attack on Iran could impact gas prices, which have been in decline for nearly a year, isn't entirely clear. Iran is one of the world's major producers of oil, though sanctions by Western countries have limited its sales. If a wider war erupts, it could significantly slow or stop the flow of Iran's oil to its customers. Energy prices have been held in check this year because production has remained relatively high, and demand for it low. A widening conflict could tilt that balance. 'The loss of this export supply would wipe out the surplus that was expected in the fourth quarter of this year,' analysts for ING wrote in a note to clients. In the past, conflicts in the Middle East have sent energy price soaring for extended periods but in recent years, because of the huge supply of oil, those spikes have been more fleeting. Earlier this month, the countries in the OPEC+ alliance decided to increase production again, which often pushes crude prices down. They hit a four-year low in early May. That usually means cheaper gas, of which there is currently a surplus. According to the auto club organization AAA, the average price for a gallon of gas in the U.S. on Friday was $3.13 per gallon, down from $3.46 a year ago. Shipping Shipping costs were already on the rise for a number of reasons. Cargo is being rerouted around the Red Sea where the U.S. began conducting air strikes on Yemen's Houthis, the Iran-backed rebels who were attacking ships on what is a vital global trade route. And this year, companies have scrambled to import as many goods as possible before Trump's tariffs kicked in, pushing demand, and prices to ship, higher. The Baltic Dry Index, a key indicator of dry bulk shipping demand that tacks the movement of coal, iron ore, grains and more, is hitting eight-month highs. The window for companies seeking to ship goods before the year's end is coming to a close this month. A widening conflict in the Middle East would only drive prices higher as those companies jostle to get goods from overseas as geopolitical tensions in the region rise. Shares of ocean shipping companies like Teekay and Frontline rose sharply following Israel's attack. Consumer goods Higher energy prices can lead to elevated costs for a wide range of products because just about everything is made and transported using oil or natural gas. Government data this week revealed that Trump's tariffs have yet to cause a broader rise in inflation. Still, many companies have announced price hikes due to the tariffs. Walmart has already raised prices on some goods and said it will do so again as the back-to-school shopping season begins. J.M. Smucker, largely due to the impact of tariffs on coffee from Brazil and Vietnam, said it's also raised prices and will do so again. Combined with the higher shipping and production costs that could result from the escalated Middle East conflict, prices will almost certainly rise further, analysts say. 'Inventory buffers may have allowed firms to put off decisions about raising prices, but that won't be the case for much longer,' the ING analysts said. 'We expect to see bigger spikes in the month-on-month inflation figures through the summer,' they added, noting that The Fed's recent Beige Book cited widespread reports of aggressive price hikes already in the pipeline. Federal Reserve Federal Reserve officials meet next week to make their next interest rate decision, and the vast majority of economists still think the U.S. central bank will leave its benchmark rate where it is for the fourth straight time. The Fed has been juggling its dual mandate of supporting the labor market while keeping inflation at bay. That goal may become increasingly difficult to achieve if prices for gas, food and other essential rise due to the Israel-Iran conflict. If prices go up, Fed officials may be inclined to raise its benchmark rate, raising borrowing costs for businesses and consumers. That could lead to businesses to cut jobs, particularly in the high-growth tech sector, and force Americans to pull back on spending, which drives more than 70% of economic activity in the U.S. Travel Perhaps contrary to conventional wisdom, one cascading effect of the heightened Middle East tension may be that the cost of traveling, even if fuel prices rise, will come down. Airlines have been downgrading their travel forecasts as businesses and families tighten their travel budgets in anticipation of tariff-related price hikes. Several major air disasters also have made some wary of getting on a plane. Most major U.S. airlines have said they plan to reduce their scheduled domestic flights this summer, citing an ebb in economy passengers booking leisure trips. Last month, Bank of America reported that its credit card customers were spending less on flights and lodging. And because of the Trump tariff wars, the dollar has fallen almost 10% this year when measured against a basket of foreign currencies, making it more expensive for Americans to travel abroad due to unfavorable exchange rates.
