Former councillor beaten in home by homophobic couple after coming out as gay
744,000 Americans file for first-time jobless benefits
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Blake Burman gives an update on Biden administration’s economic planning
The number of Americans filing first-time unemployment benefits unexpectedly rose last week, according to the Labor Department.
Data released Thursday showed 744,000 Americans filed first-time jobless claims in the week ended April 3. Analysts surveyed by Refinitiv were expecting 680,000 filings. The previous week’s total was revised higher by 9,000 to 728,000.
Continuing claims for the week ended March 27, meanwhile, fell to 3.734 million from the prior week’s downwardly revised 3.75 million. Economists had expected the number of continuing claims to decline to 3.65 million.
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The unexpected increase in initial jobless claims comes after the March nonfarm payroll report showed signs the U.S. labor market is healing. Employers added 918,000 jobs last month as the unemployment rate fell to 6%, its lowest level since the onset of the COVID-19 pandemic.
Economists are forecasting the economy could add more than 1 million jobs for each of the next several months.
Rep. Lee Zeldin announces Cuomo challenge for New York's 2022 governor's race
- A Long Island congressman announced on Thursday that he plans to run for NY governor in 2022.
- Republican Rep. Lee Zeldin tweeted that he’ll take on Gov. Andrew Cuomo’s “abuse & self dealing.”
- Zeldin would be the Empire State’s second Republican governor in over 45 years.
- See more stories on Insider’s business page.
Lee Zeldin, a Republican Congressman from Long Island, announced on Thursday that he plans to challenge New York Gov. Andrew Cuomo in 2022.
Cuomo would be seeking a fourth term, and has deflected questions of whether he would decline to run for reelection amid multiple ongoing scandals.
Known for defending Donald Trump no matter the circumstances, Zeldin made his announcement on Fox News.
The congressman also tweeted his desire to run for governor in 2022, decrying Cuomo’s “multi-million dollar self-congratulatory book deals, cover-ups, abuse & self-dealing.”
So far, the only other Republican fueling speculation of a potential gubernatorial run is Andrew Giuliani, a former Trump staffer and the son of former New York City Mayor Rudy Giuliani.
This story is developing. Check back for updates.
ORBCOMM To Be Taken Private By GI Partners In $1.1 Bln All-cash Deal – Quick Facts
ORBCOMM Inc. (ORBC), a global provider of Internet of Things (IoT) solutions, announced Thursday that it has agreed to be acquired by GI Partners, a US-based data infrastructure businesses investor, in an all-cash transaction that values ORBCOMM at approximately $1.1 billion, including net debt.
Under the terms of the agreement, ORBCOMM stockholders will receive $11.50 in cash per outstanding share of common stock upon closing of the transaction, representing a premium of approximately 52% to ORBCOMM’s closing share price on April 7.
ORBCOMM’s Board of Directors has unanimously approved the transaction and recommends that ORBCOMM’s stockholders vote in favor of the transaction.
The transaction is expected to close in the second half of 2021, following the satisfaction of customary closing conditions, including approval by ORBCOMM stockholders and the receipt of required regulatory approvals.
Upon completion of the transaction, ORBCOMM will become a privately-held company and its common stock will no longer be listed on the Nasdaq Stock Market.
Constellation Brands Q4 Profit Tops Estimates; Issues FY22 Guidance
Constellation Brands, Inc. (STZ, STZ.B) reported fourth quarter comparable basis earnings per share of $1.82 compared to $2.06, prior year. Excluding Canopy, comparable earnings per share was $1.93, down 11%. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $1.55, for the quarter. Analysts’ estimates typically exclude special items.
Fourth quarter net income attributable to CBI declined to $382.9 million from $398.4 million, prior year. Earnings per class A common stock was $1.95 compared to $2.04.
Fourth quarter net sales were $1.95 billion, up 3% from previous year. Analysts expected revenue of $1.87 billion, for the quarter.
For fiscal 2022, the company expects reported EPS of $6.90 – $7.20; and comparable basis EPS, excluding Canopy, of $9.95 – $10.25.
On April 7, Constellation’s board declared a quarterly dividend of $0.76 per share of class A common stock and $0.69 per share of class B common stock.
Dollar Tree, Family Dollar Hiring Thousands Of Associates
Dollar Tree, Inc. has opened thousands of positions for job seekers at its stores and distribution centers across the United States.
The discount retailer, which operates around 15,685 stores across 48 states, plans to recruit full- and part-time associates at Dollar Tree and Family Dollar stores and distribution centers.
The company, which operates store under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada, offers a competitive compensation package and a variety of shifts and flexible schedules.
The opportunities include full- and part-time managers at its more than 15,400 U.S. store locations, along with flexible part-time shifts for cashiers and stockers.
All Dollar Tree and Family Dollar stores offer a monthly Store Manager Bonus Program, which rewards store managers for performance.
Positions open in Dollar Tree’s 26 U.S. distribution centers include management, as well as full- and part-time order fillers, equipment operators, maintenance, and warehouse associates.
The selected associates will get the opportunities to grow into management-level roles and to earn extra compensation through incentive pay, and can promptly earn higher wages upon increasing their productivity.
In the year 2021, the company offers all associates its pay-any-day program, which allows associates to advance their payday earnings for flexibility on meeting bills and expenses.
In late January, Lowe’s Companies Inc. had announced plans to hire more than 50,000 associates across U.S. stores this spring.