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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

In brief: U.S. job openings increase; hiring remains healthy

From Wire Reports

WASHINGTON – The number of available U.S. jobs rose in October to the second-highest level in 14 years, and companies kept hiring at a healthy pace, adding to evidence of an improving economy.

Job openings increased 3.2 percent to 4.83 million, the Labor Department said Tuesday. That’s just below August’s total, which was the highest on record dating back to 2000. Total hiring slipped 0.4 percent to 5.1 million after reaching a seven-year high in September. The number of people quitting was mostly unchanged at a six-year high of 2.7 million.

The overall figures paint a picture of a more dynamic job market, with businesses filling more open jobs and more Americans quitting, typically for better-paying opportunities.

Fed proposes banks boost capital buffers

WASHINGTON – Federal regulators are proposing that the eight biggest U.S. banks be required to further increase the amount of capital they set aside to cushion against unexpected losses.

The Federal Reserve’s proposal is aimed at reducing the potential for future taxpayer bailouts of troubled banks. The proposed requirements also are designed to encourage the behemoths to shrink so they pose less risk to the financial system. The banks include JPMorgan Chase, Citigroup and Bank of America.

The Fed governors voted 5-0 at a meeting Tuesday to advance the so-called “capital surcharges,” opening them to public comment.

California sues Uber; Lyft agrees to settle

SAN FRANCISCO – California prosecutors sued Uber on Tuesday over the ride-booking company’s background checks of drivers and other allegations, adding to the popular startup’s worldwide legal woes.

San Francisco County District Attorney George Gascon also announced that Uber competitor Lyft agreed to pay $500,000 and change some of its business practices to settle its own lawsuit.

The lawsuits are the latest legal hurdles to confront the nascent ride-hailing industry.

Airline official resigns over nutty reaction

SEOUL, South Korea – A top executive of Korean Air Lines resigned Tuesday amid mounting public criticism that she delayed a plane over how she was served macadamia nuts.

Company officials said Chairman Cho Yang-ho has accepted the resignation of Cho Hyun-ah, his eldest daughter, as executive vice president of cabin service. However, she will retain other executive-level roles at the airline and its affiliate businesses.

The junior Cho was under public fire following media revelations that a recent Korean Air Lines flight from New York to South Korea returned to the gate because she ordered a senior crew member off the plane. Cho was angered that she was served bagged macadamia nuts instead of nuts on a plate.