general news

California’s grid operator said Friday that it anticipates a shortfall in supplies this summer, especially if extreme heat, wildfires or delays in bringing new power sources online exacerbate the constraints. The Midcontinent Independent System Operator, or MISO, which oversees a large regional grid spanning much of the Midwest, said late last month that capacity shortages may force it to take emergency measures to meet summer demand and flagged the risk of outages. In Texas, where a number of power plants lately went…

Western ports are bracing for increased congestion when China eventually lifts stringent Covid-19 restrictions in major cities, which could come just as many importers start to load up for the back-to-school and holiday shopping seasons.Import gateways such as California’s Los Angeles and Long Beach ports, which handle more than a third of all containers coming into the U.S., are still inundated with uncollected cargo more than two years into the pandemic. Once full export shipments resume in ports including Shanghai,…

There are two ways for the job market to cool off. One is for hiring to slow considerably. The other is for more people to enter the labor force. The latter is obviously preferable, but it isn’t clear how much of the latter the U.S. is going to get. The Labor Department on Friday reported that the economy added a seasonally adjusted 428,000 jobs in April—equal with March’s gain and showing employment is growing at a heady clip. The unemployment rate, which is based off a separate survey,…

The European Union is struggling to finalize the terms of an oil embargo on Russia amid resistance by Hungary, whose leader claimed Friday that the proposed embargo would hit his economy like an atomic bomb.Prime Minister Viktor Orban has long cultivated close ties with Moscow and hasn’t joined other EU and North Atlantic Treaty Organization countries in trying to arm Ukraine. He is insisting on more time and EU money if Hungary is to join the rest of the bloc in transitioning away from…

The U.S. labor market extended a run of rapid job growth last month despite jittery markets and increased economic uncertainty, as employers rushed to serve waves of consumers who are shopping, dining out and traveling more.The economy added 428,000 jobs in April, duplicating March’s increase and marking the 12th straight month of gains above 400,000, the Labor Department said Friday. The unemployment rate remained at 3.6%, just a shade above the prepandemic level of 3.5%, a half-century low.…

Moderna Inc. is trying to fend off rival companies’ claims that its Covid-19 vaccine infringes their patents, arguing that the companies may only pursue their claims seeking royalties from the federal government.Moderna on Friday filed a motion to dismiss some of the patent-infringement claims in the lawsuit, which was filed in February by two small biotechnology companies, Arbutus Biopharma Corp. and Genevant Sciences GmbH, in federal court in Delaware. ModernaInc. is trying to fend off rival companies’ claims that…

A group led by Los Angeles Dodgers part-owner Todd Boehly reached a deal to acquire Chelsea Football Club from Russian billionaire Roman Abramovich for almost £4.3 billion, equivalent to $5.2 billion, the team said late Friday, marking a record sale price for a professional sports team. The deal’s completion is expected later this month, assuming the deal wins regulator approvals, Chelsea said in a statement. It follows a…

DoorDash Inc.’s DASH -1.42% revenue rose last quarter, showing that consumers stuck to getting food and household essentials delivered even as more restaurants and stores reopened.Revenue for the three months ended March grew 35% to $1.46 billion from a year earlier, when fresh Covid-19 concerns caused people to hunker down. Analysts surveyed by FactSet on average had predicted $1.38 billion in revenue. The rate of growth for the quarter marked a sharp slowdown. The…

Drivers can now have less junk in their trunk, and more in their frunk.People have long prized having storage space in the back of their cars, whether for stashing tools or tailgating. As more buy electric vehicles, they’ll increasingly be tossing stuff in an inelegantly named space where the engine used to be. Meet the frunk, for front trunk. EVs trade out the engine for a battery pack, which typically lines the vehicle’s floor. That opens up a big front-end cavity for a new role. While under-hood storage…

A federal judge has tossed a lawsuit filed last year by former President Donald Trump against Twitter Inc. TWTR -1.11% and its then-chief executive Jack Dorsey over alleged censorship, an issue that the company’s potential new owner, Elon Musk, has said he would clamp down on. U.S. District Judge James Donato of…