The daily business briefing: November 16, 2023
Senators approve a stopgap bill to avert a shutdown, the FAA approves SpaceX's second Starship test flight, and more
1. Senate approves bill to avert a shutdown
The Senate on Wednesday passed a stopgap spending bill to provide several more months of funding for federal agencies and avert a government shutdown ahead of a weekend deadline. The 87-11 vote ended Congress' third fiscal standoff of the calendar year and sent the bill to President Joe Biden for his signature. The last temporary spending deal, passed in early October, sparked a revolt by a handful of far-right House Republicans who then ousted then-Speaker Kevin McCarthy (R-Calif.). McCarthy's successor, Speaker Mike Johnson (R-La.), proposed the current measure to extend funding for some agencies until Jan. 19 and others until Feb. 2. Conservatives on Wednesday torpedoed a procedural vote on advancing an appropriations bill, signaling ongoing GOP infighting over spending. Reuters, The Washington Post
2. FAA approves second test flight for SpaceX's Starship rocket
The Federal Aviation Administration on Wednesday gave SpaceX approval for the second launch of its Starship rocket. The spacecraft could blast off as soon as Friday. The FAA said two months ago that Elon Musk's space company would have to make dozens of fixes before the next test flight of the reusable rocket, after the first launch from Boca Chica, Texas, failed earlier this year, blasting a crater into the launch pad. The issuing of the new launch license meant the FAA had determined that SpaceX met all safety, environmental and financial requirements to go ahead with another mission. Axios
3. Amazon stops sales of eye drops that lack FDA approval
Amazon announced Wednesday it was halting sales of seven eye-drop products that the Food and Drug Administration warned had not been approved. The FDA told Amazon CEO Andrew Jassy in a Nov. 13 letter that the products were "especially concerning" because they are applied to the eyes, so they can bypass natural defenses as they enter the body. Amazon said it was investigating and removing the products from its site. "Safety is a top priority at Amazon," the company said. "We require all products offered in our store to comply with applicable laws and regulations." The Washington Post
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.
4. Stock futures flat after cooling inflation sparks rally
U.S. stock futures were little changed early Thursday after a rally sparked by better-than-expected inflation data. Futures tied to the Dow Jones Industrial Average and the S&P 500 were flat at 7 a.m. ET. Nasdaq futures were down 0.2%. The Dow and the S&P 500 gained 0.5% and 0.2%, respectively, on Wednesday as October's producer price index, which tracks wholesale prices, fell 0.5%, its biggest monthly decline since April 2020. The benchmark indexes made even bigger gains a day earlier after the latest consumer price index came in flat for October, boosting hopes that the Federal Reserve might not raise interest rates again to bring down inflation. CNBC
5. Workers supporting unionizing to strike at 200 Starbucks stores
Thousands of workers plan to participate in a one-day strike at more than 200 Starbucks stores across the United States on Thursday. The walkout is expected to be the biggest yet in two years of efforts to unionize the coffee giant's stores. The Workers United union scheduled the strike for Starbucks' annual Red Cup Day, one of the company's busiest days, to maximize impact. The union said it expected more than 5,000 employees seeking better pay and protesting understaffing to participate in its "Red Cup Rebellion." Starbucks downplayed the potential impact, saying the affected stores represented a "small subset" of its 9,600 company-owned U.S. stores. The Associated Press
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.
-
Magazine printables - December 13, 2024
Puzzles and Quizzes Issue - December 13, 2024
By The Week US Published
-
Magazine printables - December 13, 2024
Puzzles and Quizzes Issue - December 13, 2024
By The Week US Published
-
Will Trump (and Bernie) cut credit card rates?
Talking Points Common ground is possible. But there's a catch.
By Joel Mathis, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
Companies that have rolled back DEI initiatives
The Explainer Walmart is the latest major brand to renege on its DEI policies
By Justin Klawans, The Week US Published
-
How the UK's electric car plans took a wrong turn
The Explainer Car manufacturers are struggling to meet 'stringent' targets for electric vehicle sales
By Abby Wilson Published
-
Jaguar's stalled rebrand
In the spotlight Critics and car lovers are baffled by the luxury car company's 'complete reset'
By Abby Wilson Published
-
Giant TVs are becoming the next big retail commodity
Under the Radar Some manufacturers are introducing TVs over 8 feet long
By Justin Klawans, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
TD Bank accepts $3B fine over money laundering
Speed Read The US retail bank pleaded guilty to multiple criminal charges
By Peter Weber, The Week US Published