Twitter’s advertisers pull back
The pullback of advertisers from Twitter gathered steam Friday amid growing fear that misinformation and hate speech would be allowed to proliferate on the platform under Elon Musk’s leadership. The Volkswagen Group joined several other companies in recommending that its automotive brands pause their spending on Twitter. Danish brewing company Carlsberg Group said it had advised its marketing teams to do the same. Outdoor equipment and apparel retailer REI said it would also pause posts in addition to advertising spending “given the uncertain future of Twitter’s ability to moderate harmful content and guarantee brand safety for advertisers.”
Employers added 261,000 jobs in October
With less than a week until Election Day, a new economic report showed the strength of the job market despite policymakers’ efforts to constrain it in their fight against inflation. The employment figures immediately made their way into both parties’ closing pitches to voters, with President Joe Biden proclaiming that “our jobs recovery remains strong” even as Republicans said that the numbers were disappointing. The report from the Labor Department showed that 261,000 jobs added in October but that job growth is cooling gradually. The gains were the weakest of the year and the lowest since December 2020.
Rail union approves deal offering hope of avoiding strike
Another one of the 12 railroad unions narrowly approved its deal with the major freight railroads Saturday, offering some hope that the contract dispute might be resolved without a strike even though two other unions rejected their agreements last month. Now that 52% of International Association of Machinists and Aerospace Workers members who voted approved their deal, seven railroad unions have ratified contracts that include 24% raises and $5,000 in bonuses. But, all 12 must approve contracts to prevent a strike. So businesses remain concerned about a possible economically devastating strike, and they have urged President Joe Biden and Congress to be ready to intervene if needed.
Climate activists block private jets at Amsterdam airport
Hundreds of climate protesters have blocked private jets from leaving Amsterdam’s Schiphol Airport in a demonstration on the eve of the COP27 United Nations climate meeting in Egypt. Protesters sat around private jets to prevent them leaving and others rode bicycles around the planes in the demonstration Saturday. Dewi Zloch of Greenpeace Netherlands said the activists want “fewer flights, more trains and a ban on unnecessary short-haul flights and private jets.” Military police said they arrested a number of protesters for being on the airport’s grounds without authorization.
California tenants rise up, demand rent caps from city halls
Low-income tenants in the San Francisco Bay Area suburb of Antioch got legislation passed that will cap rent increases at 3% a year. But the city council vote was 3-2 and the win is tenuous in the majority Black and Latino town. Two city council members who voted for rent stabilization are up for re-election Tuesday and if even one loses, the law could be repealed. California lawmakers approved landmark statewide renter protections in 2019 but with high inflation, tenants across the state are taking to ballot boxes and city councils to demand even more safeguards. They want to crack down on shoddy living conditions and unresponsive corporate landlords.
By wire sources
