Jobless Claims Fall Yet Again
The Labor Department Thursday said the number of Americans filing new claims for unemployment benefits fell slightly and more than expected last week. Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 276,000 for the week ending May 30. It was the 13th consecutive week that claims held below the 300,000 mark, which is usually associated with a strengthening labor market.
Perry Joins Crowded Republican Field
Former Texas governor Rick Perry announced Thursday he is going to run for President again in 2016, adding his name to the crowded Republican field. Perry ran for president in 2012 as well. Perry made the announcement on his website and planned a speech for later Thursday at a small municipal airport in Addison, north of Dallas. Perry referenced his 14-year run as governor of Texas as proving his skills to lead. Meanwhile, news came out Thursday that Jeb Bush will announce his intentions to run for President on June 15, and Louisiana Governor Bobby Jindal has a major announcement planned for June 24.
CVS Profiled Customers
A lawsuit filed against CVS Pharmacy Inc. says stores in New York City required loss prevention staffers to racially profile shoppers and subjected minority employees to racist slurs. The proposed class action lawsuit was filed Wednesday in federal court in Manhattan by four black and Hispanic former CVS “store detectives’’ who claim they were ordered by store managers and company officials to keep a close eye on minority customers. The lawsuit named several managers as defendants, claiming a violation of the New York Human Rights Law and a comparable city law prohibiting racial discrimination by employers.
Harvard Receives Huge Endowment
John Paulson, the billionaire money manager from Paulson & Co., gave a $400 million endowment to the Harvard University School of Engineering and Applied Sciences Wednesday, the largest ever gift received by the school. Harvard announced the gift, saying the school will be renamed the Harvard John A. Paulson School of engineering and Applied Sciences to honor the donation. Paulson graduated from that school, as did Microsoft CEO Steve Ballmer and NASA astronaut Stephanie Wilson. “There is nothing more important to improve humanity than education,’’ Paulson said in a release.
IRS Employee Stole Tax Returns
Demetria Brown, an Internal Revenue Service employee working in St. Louis, pled guilty this week to charges of tax fraud after gaining $326,000 by stealing taxpayer identifies and creating false tax returns to steal refunds. Brown used names, Social Security numbers and dates of birth for victims without their consent. She then requested refunds be direct deposited to one of six bank accounts in five different states. This scheme took place from 2008 to 2011. Brown faces up to 42 years in jail and $750,000 in fines.
Yahoo Inc. won a bidding war to broadcast the Oct. 25 National Football League game between the Jacksonville Jaguars and the Buffalo Bills in London by streaming it on its website. It will be the first live stream of an NFL game ever. Yahoo paid at least $10 million for the rights, and some sources believe it was $20 million. The game will be streamed on Yahoo! Sports, Yahoo! Screen and Tumblr, the NFL said Wednesday. The game will also be televised in the Buffalo and Jacksonville TV markets.