Nobel economics prize goes to professor for advancing the understanding of the workplace gender gap
STOCKHOLM (AP) — The Nobel economics prize has been awarded to Claudia Goldin, a professor at Harvard University, for research that has advanced the understanding of the gender gap in the labor market. Hans Ellegren, secretary-general of the Royal Swedish Academy of Sciences, announced the award Monday in Stockholm. Goldin is only the third woman to win the prize. Ellegren says Goldin “was surprised and very, very glad” upon hearing she received the award. Goldin has studied 200 years of women’s participation in the workplace, showing that despite continued economic growth, women’s pay did not continuously catch up to men’s and a divide still exists despite women gaining higher levels of education than men.
Workers at Mack Trucks reject tentative contract deal and will go on strike early Monday
DETROIT (AP) — The United Auto Workers union says members at Mack Trucks have voted down a tentative five-year contract agreement reached with the company and plan to strike at 7 a.m. Monday. Union President Shawn Fain said in a letter to Mack parent company Volvo Trucks that 73% of workers voted against the deal in results counted on Sunday. The UAW represents about 4,000 Mack workers in three states. Union leaders had reached a tentative agreement on the deal Oct. 1. The deal included a 19% pay raise over the life of the contract.
Morocco welcomes the annual meeting of the IMF and World Bank a month after its deadly earthquake
MARRAKECH, Morocco (AP) — The International Monetary Fund and World Bank are holding their annual meeting in Morocco, one month after an earthquake killed nearly 3,000 people in the North African country. Officials gathering in Marrakech on Monday will likely continue discussions about how to confront climate change and promote resiliency as inflation and debt challenge both rich and poor countries. Morocco has estimated it will cost roughly $11.7 billion to repair earthquake damage, and the IMF approved a $1.3 billion loan last month.
Stock market today: Oil gains while share prices fall after Israel strikes back at Hamas attack
BANGKOK (AP) — Oil prices have surged and share prices are mostly lower after the the Israeli government declared war following deadly attacks by Hamas from the Gaza Strip. U.S. futures declined and oil prices gained more than $3 a barrel. Israel announced it was moving to support its currency, the shekel. Tokyo and several other Asian markets were closed for holidays on Monday. The bond market in the U.S. will be closed Monday for the Columbus Day holiday. On Friday, Wall Street rallied after a surprisingly strong report on U.S. employment. The S&P 500 rose 1.2%, the Dow jumped 0.9% and the Nasdaq composite flipped to a gain of 1.6%.
American Airlines pilot union calls for stopping flights to Israel, citing declaration of war
NEW YORK (AP) — The pilots’ union for American Airlines has directed its members to refuse to fly to Israel, citing the ongoing war between Israel and the Palestinians in Gaza. In an email to members, union President Ed Sicher says the company’s pilots should not fly to Israel until they can be “reasonably assured of the region’s safety and security.”
From Coke floats to Cronuts, going viral can have a lasting effect on a small business
NEW YORK (AP) — Lexington Candy Shop has had a line outside for over a year since a TikTok of its Coke float went viral. The owner of Fatima’s Grill parlayed his viral fame into an expansion. When a smaller restaurant unexpectedly goes viral on TikTok or other social media, the sudden demand can be overwhelming. Owners have to adapt on the fly, revamping operations to quickly serve a crush of people. But savvy business owners who are able to adapt can parlay newfound fame into a lasting boost for their business. Just ask Dominique Ansel, who created a craze with the Cronut a decade ago, before the term “going viral” was widely used.
A workforce crisis is damaging families’ access to therapies for babies with developmental delays
CHICAGO (AP) — American babies and toddlers with disabilities are entitled to publicly funded therapies known as Early Intervention, since all U.S. states and territories accept federal funding for this program. But stagnant pay and an increasing cost of living mean many health care providers can no longer afford to participate in the program, and children’s development has suffered as a result. Almost all states have reported Early Intervention staffing shortages, and officials and experts say the situation has become critical post-pandemic, meaning young children are left waiting months for the care they need. Speech-language pathologist Sarah Ziemba says when children don’t get the help they need at a young age, “sometimes we are limiting their potential into adulthood.”
Tourism resumes in West Maui near Lahaina as hotels and timeshare properties welcome visitors
HONOLULU (AP) — The area around the historic Maui town largely destroyed by wildfire two months ago has begun welcoming back travelers. The move this weekend comes as the mayor and Hawaii’s governor push ahead to restart tourism in support of the economy despite vocal opposition from some Lahaina residents. The websites of five hotels in West Maui show they are accepting reservations again. Eight timeshare properties also are opening across the region early this month, including some a few miles from the devastation. The reopening falls on the two-month anniversary of the wildfire that killed at least 98 people.
A Baltic Sea gas pipeline between Finland and Estonia is shut down over a suspected leak
HELSINKI (AP) — Finland and Estonia say the undersea Balticconnector gas pipeline running between the two countries across the Baltic Sea has been temporarily taken out of service due to a suspected leak. Gasgrid Finland and Elering, the Finnish and Estonian gas system operators, said they noted an unusual drop in pressure in the pipeline shortly before 2 a.m. Sunday, after which they shut down the gas flow. Gasgrid Finland says it was suspected that the offshore pipeline between Finland and Estonia was leaking. The Finnish operator gave no reason for the suspected leak and said it’s investigating together with Elering.
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