NEW YORK (AP) — Stocks are moving higher this morning on Wall Street, after the government reported another month of solid job gains in May. The Dow and the S&P 500 are both in record territory, with the blue-chip index adding about 70 points in the first hour of trading and the S&P adding 7. The Nasdaq composite also is higher.
WASHINGTON (AP) — U.S. employers continue to add jobs. The Labor Department reports employment rose by 217,000 in May, notching a substantial gain for a fourth straight month. The figure is down from 282,000 in April, which was revised slightly lower, but job gains have averaged 234,000 over the past three months. The unemployment rates remains at 6.3 percent.
NEW YORK (AP) — Shares of Hertz are down 10 percent his morning after the car-rental company said it found accounting errors in recent financial reports. Hertz says in a regulatory filing that it will redo its financial reports from the past three years and correct them if needed. Hertz says it will further delay the release of its first-quarter earnings report. The report had already been pushed back to June 9.
DENVER (AP) — Colorado has become the first state to put in place statewide regulations on ridesharing companies. Services like UberX and Lyft connect riders to drivers through cellphone apps. The Colorado law puts the companies under the oversight of the state’s public utilities commission. It requires ridesharing companies to submit drivers to background checks, vehicle inspections, and provide proof of insurance.
LONDON (AP) –One of the world’s largest cellphone companies has revealed the scope of government snooping into phone networks. Vodafone says authorities in some countries are able to directly access an operator’s network without seeking permission. The company outlined the details in a report that is described as the first of its kind, covering 29 countries in which it directly operates.
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