Thursday’s business headlines
INDIANAPOLIS (WISH) — Here are Thursday’s business headlines with Jane King.
Job openings rose to over 10 million in April
U.S. job openings rose unexpectedly in April, according to a government report out Wednesday.
Employers posted 10.1 million job openings last month, up from a revised 9.7 million in March. It’s the most reported job openings since January.
The resilience of the American labor market is complicating the Federal Reserve’s efforts to fight inflation as a tight labor market means companies have to pay more.
Salesforce customers backing away from big deals
Salesforce raised its financial forecast but sees pressure as customers back away from big consulting deals.
It says clients are still looking carefully at deals, which are taking longer to close than they were in the past.
Cummins spinoff goes public at $1.6 billion valuation
A spinoff of Columbus-based Cummins Engine Co. has gone public at the New York Stock Exchange with a value of $1.6 billion.
The filtration company will use the $300 million gained from the selling of shares to pay off debt.
No wall street reaction to debt ceiling vote
Stocks overnight showed no reaction at all to Wednesday’s debt ceiling vote.
The House passed a sweeping bill that suspends the federal government’s debt ceiling in exchange for spending cuts. It now moves on to the Senate.
Should the bill pass the Senate and make it to the president’s desk, the U.S. government would be able to pay its bills on time, which would be good news for those who receive Social Security or other benefits.
Average wedding cost hits $29,000
Weddings are back, in full force. That’s the good news. But engaged couples will pay more to get hitched in 2023.
The national average cost of a wedding this year is $29,000, up $1,000 from 2022, according to online wedding planning site Zola.
In some big U.S. cities, the cost is $35,000 and above.