Factory orders rebound last month

Orders placed with U.S. factories for business equipment rebounded in August, suggesting resilient investment despite elevated borrowing costs.

The value of core capital goods orders, a proxy for investment in equipment that excludes aircraft and military hardware, rose 0.9% last month after a downwardly revised 0.4% decline in July, Commerce Department figures showed Wednesday.

That was the most since the start of the year.

Bookings for all durable goods – items meant to last at least three years – climbed 0.2%, also after the prior reading was revised lower.

Excluding transportation equipment, orders advanced 0.4%. The data aren’t adjusted for inflation.

The increase in orders was led by computers, electrical equipment and machinery.

Total durable goods bookings were boosted by a roughly 19% increase in military aircraft.

Las Vegas workers poised to strike

Las Vegas hospitality workers voted to authorize a strike against 22 casino resorts as they continue to press for a contract, according to a late Tuesday release from the Culinary and Bartenders Union.

Although work stoppages are far from certain, the vote increases the likelihood that a growing labor dispute could hit the country’s biggest gambling hub heading into the fall.

Workers are seeking a new five-year contract that includes larger wage increases, a reduction in housekeeping quotas and new protections regarding how employers’ use of new technology impacts jobs.

The union is not just large, representing about 60,000 workers in Nevada, but has traditionally played an important role in political organizing as well.

From wire reports