Business Highlights

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Businesses scramble for help as job openings go unfilled

NEW YORK (AP) — It looks like something to celebrate: small businesses posting “Help Wanted” signs as the economy edges toward normalcy. Instead, businesses are having trouble filling the jobs, which in turn hurts their ability to keep up with demand for their products or services. Owners say that some would-be workers are worried about catching COVID-19 or prefer to live off unemployment benefits that are significantly higher amid the pandemic. Child care is another issue — parents aren’t able to work when they need to tend to or home-school their children. So, when owners schedule interviews, they have more no-shows than real prospects.

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US takes new aim at ransomware after most costly year

WASHINGTON (AP) — The Justice Department has assembled a task force to confront ransomware after what officials say was the most costly year on record for the crippling cyberattacks. The task force of FBI agents and Justice Department prosecutors is an acknowledgment of the growing threat posed by ransomware attacks, in which hackers lock up computer data and demand ransom payments in order to give it back. Ransomware attacks have impeded hospital operations, led to the temporary closure of school classes and caused other chaos. The task force and its goals were laid out in a memo this week from John Carlin, a senior Justice Department official

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US ends oil, gas lease sales from public land through June

BILLINGS, Mont. (AP) — The U.S. Interior Department is cancelling oil and gas lease sales from public lands through June amid an ongoing review of how the program contributes to climate change, officials said Wednesday. The action does not affect existing leases and the agency has continued to issue new drilling permits during an open-ended review of the program that was ordered by the White House, said Nada Culver, deputy director of Interior’s Bureau of Land Management. Lease sales were scheduled in at least two states — Nevada on June 8 and Colorado on June 27. Details on the cancellations were obtained by The Associated Press in advance of their public announcement.

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Canadian Pacific attacks rival bid for Kansas City Southern

OMAHA, Neb. (AP) — Canadian Pacific railroad continued its assault on rival Canadian National’s competing $33.7 billion bid to buy Kansas City Southern railroad Wednesday in a formal letter to regulators. Canadian Pacific urged the Surface Transportation Board to closely examine Canadian National’s offer to buy Kansas City Southern. It says the deal would hurt rail competition throughout the central United States and could destabilize the balance between the industry’s six largest players. Canadian National, meanwhile, maintains that the bid it announced Tuesday is superior to the $25 billion cash and stock deal that Canadian Pacific announced last month.

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New enrollments push Anthem beyond expectations in Q1

INDIANAPOLIS (AP) — Anthem delivered a better-than-expected first quarter and pushed its 2021 forecast past expectations as enrolment growth lifted the health insurer. A 20% jump in membership for state and federally funded Medicaid plans that Anthem manages spurred a 3% overall enrolment gain compared to last year’s opening quarter. The Blue Cross-Blue Shield insurer has 43.5 million customers and is the nation’s second-largest health insurer, trailing only UnitedHealthcare.

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Amazon begins rollout of pay-by-palm at Whole Foods near HQ

NEW YORK (AP) — Amazon is rolling out pay-by-palm technology at some Whole Foods grocery stores near its headquarters to make paying quicker and more convenient. The technology, called Amazon One, lets shoppers scan the palm of their hand and connect it to a credit card or Amazon account. After the initial set up, which Amazon says takes less than a minute, shoppers can scan their hand at the register to pay for groceries without having to open their wallets. Amazon first launched the technology late last year and at the time said the technology could be used at stadiums, office buildings and other retailers. So far, Amazon hasn’t announced any takers.

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Stocks end higher on Wall Street after a day of steady gains

NEW YORK (AP) — Stocks ended broadly higher on Wall Street after steadily gaining throughout the day. The S&P 500 index added 0.9% Wednesday following its first back-to-back loss since March. Technology companies and banks helped lead the way higher. Communications stocks were among the only losers, led by a 7.4% drop in Netflix after the video streaming pioneer disappointed investors with a slowdown in subscriber additions. Much of the market’s focus over the next two weeks will be on individual company stocks and how well their quarterly results turn out. Treasury yields held steady and crude oil prices fell.

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Behind production of a top-selling bourbon, push to go green

LOUISVILLE, Ky. (AP) — The process of making fine whiskey involves aging spirits to a golden brown, but a bourbon producing giant is going green along the way. Beam Suntory, producer of top-selling Jim Beam and Maker’s Mark, both crafted in Kentucky, said Wednesday it wants to cut its companywide greenhouse gas emissions and water usage in half by 2030. The company’s more ambitious goal is to remove more carbon than is emitted from its operations and among its supplier base by 2040. The spirits giant also is committed to planting 500,000 trees annually by 2030, with a goal of planting more trees than are harvested to make barrels to hold its aging whiskeys. Bourbon ages for years in charred new oak barrels, where it acquires its colour and flavour.

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The S&P 500 rose 38.48 points, or 0.9%, to 4,173.42. The Dow Jones Industrial Average gained 316.01 points, or 0.9%, to 34,137.31. The Nasdaq added 163.95 points, or 1.2%, to 13,950.22. The Russell 2000 index of smaller company stocks climbed 51.42 points, or 2.3%, to 2,239.63.

The Associated Press