The daily business briefing: March 31, 2016
Women's soccer stars file a wage discrimination complaint, Boeing cuts 4,000 jobs, and more
1. Women's soccer stars file wage-discrimination complaint
Five key players on the U.S. women's soccer team — co-captains Carli Lloyd and Becky Sauerbrunn, forward Alex Morgan, midfielder Megan Rapinoe, and goalkeeper Hope Solo — are filing a federal wage discrimination complaint against U.S. Soccer, their lawyer said. The players argue that the reigning Women's World Cup and Olympic champion women's team is key to the success of the sport's U.S. governing body, yet its players are paid as little as 40 percent of what their male counterparts get. No immediate comment was available from U.S. Soccer.
2. Boeing to cut 4,000 or more jobs to reduce costs
Boeing on Wednesday acknowledged that it plans to cut about 4,000 jobs by mid-year in its commercial airplanes division, which has about 80,000 employees. People with knowledge of Boeing's efforts to reduce costs say the aerospace and defense company could end up eliminating as many as 8,000 jobs. "There is no employment reduction target," spokesman Doug Alder said. "The more we can control costs as a whole, the less impact there will be to employment." The moves come as Boeing's jetliner output is booming.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
3. MetLife sheds 'too big to fail' label
A federal judge on Wednesday rescinded MetLife's status as a systemically important financial institution. The insurer had been battling with the government since 2014 to shed its "too big to fail" designation, which the government gave to big banks and other financial institutions after the 2008 financial crisis. Institutions with the status are subjected to stricter scrutiny. The decision marks a setback for the Obama administration's efforts to step up financial oversight of the financial sector.
The Washington Post The Wall Street Journal
4. Employers added 200,000 jobs in March
Private companies added 200,000 workers in March, signaling continued strengthening of the job market, according to a report released Wednesday by ADP Research Institute. The median forecast in a Bloomberg survey was for a 195,000 job gain. The revised figure for February was 205,000 new jobs. The average monthly gain in 2015 was 221,000. "The job market continues on its amazing streak," said Mark Zandi, chief economist at Moody's Analytics.
5. GM wins second straight case in which drivers blamed defect for crashes
Jurors on Wednesday handed General Motors its second straight trial victory against drivers who blamed faulty ignition switches for car wrecks. The jury in a Manhattan federal court found that the 2014 crash of Dionne Spain's 2007 Saturn Sky on a New Orleans bridge was caused by an ice storm, not the defect that has been found in millions of GM vehicles. The trial was the second of six test cases that could influence possible settlements in hundreds of other cases.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
-
Putin replaces defense minister with economist
Speed Read In a surprising shake-up, Putin replaced Sergei Shoigu with civilian economist Andrei Belousov
By Peter Weber, The Week US Published
-
Today's political cartoons - May 13, 2024
Cartoons Monday's cartoons - a portrait of humanity, cool re-brand, and more
By The Week US Published
-
Blinken: Israel's Gaza tactics risk 'enduring insurgency'
Speed Read The secretary of state criticized Israel's lack of plan to protect Rafah civilians
By Peter Weber, The Week US Published
-
The daily business briefing: January 24, 2024
Business Briefing The S&P 500 sets a third straight record, Netflix adds more subscribers than expected, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 23, 2024
Business Briefing The Dow and S&P 500 set fresh records, Bitcoin falls as ETF enthusiasm fades, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 22, 2024
Business Briefing FAA recommends inspections of a second Boeing 737 model, Macy's rejects Arkhouse bid, and more
By Harold Maass, The Week US Published
-
Geopolitics and the economy in 2024
Talking Point The West is banking on a year of falling inflation. Don't rule out a shock
By The Week UK Published
-
The daily business briefing: January 19, 2024
Business Briefing Macy's to cut 2,350 jobs, Congress averts a government shutdown, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 18, 2024
Business Briefing Shell suspends shipments in the Red Sea, December retail sales beat expectations, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 17, 2024
Business Briefing Judge blocks JetBlue-Spirit merger plan, Goldman Sachs beats expectations with wealth-management boost, and more
By Harold Maass, The Week US Published
-
The daily business briefing: January 16, 2024
Business Briefing Boeing steps up inspections on 737 Max 9 jets, Zelenskyy fights for world leaders' attention at Davos, and more
By Harold Maass, The Week US Published