Jobs growth, infrastructure plans, and a Bitcoin breakup.
US job growth accelerated in May as vaccinations eased the pandemic’s grip on the economy, but companies faced difficulties hiring. With millions of unemployed Americans at home because of childcare problems and generous unemployment checks, this leaves open the chance for another letdown in job creation. Slower hiring stirred debate among some economists that growth was stagnating at a time when inflation was rising.
A group of key US House Democrats introduced legislation on Friday to authorize $547 billion in additional spending over five years on surface transport, a plan that would mostly go to fixing existing US roads and bridges and increase funding for passenger rail and transit.
Britain announced a trade deal with Norway, Iceland, and Liechtenstein on Friday, replacing the temporary arrangements that had been in place since it left the European Union. This is still only a small fraction of the work to be done to mend trade ties with EU members.
Bitcoin fell more than 7% on Friday, with tweets by Tesla boss Elon Musk that appeared to lament a breakup with the cryptocurrency and again moving markets. Tesla’s big position in Bitcoin and Musk’s large personal following set crypto markets on edge whenever he tweets and the price fell after he posted “#Bitcoin”, a broken-heart emoji, and a picture of a couple discussing a breakup.
||Europe and Britain launched formal antitrust investigations into Facebook on Friday to determine if the world’s largest social network was using customer data to unfairly compete with advertisers in a new assault on its business model.|
Johnson & Johnson
|Mexico will administer the Johnson & Johnson vaccine shots it is getting from the United States to 18 to 40-year-olds along the Mexico-U.S. border region with the aim of reopening the shared border by late June.|
||Twitter has officially launched Twitter Blue in Australia and Canada, beginning the diversification of its revenue stream.|