Senate approves five year farm bill with bipartisan support
The Senate passed a $500 billion farm bill by 64 to 35, cutting subsidies and land conservation spending by about $2 billion annually while protecting sugar growers and 46 million food stamp recipients. The bill streams toward the House, facing resistance from conservatives over food stamps and costs.
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Mitch McConnell
House
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Debbie Stabenow
D-Mich
Pat Roberts
Kansas
Oil dips below 80 as gas prices slip on easing pump costs
Oil fell to 78.20 a barrel in a nine month low while the national average for gasoline dropped to 3.472 per gallon. Economies sputter with slow job growth in the US and Europe, fueling expectations that fuel costs will ease through July.
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Patrick DeHaan
GasBuddy.com
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York Mercantile Exchange
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Arch Coal to lay off 750 in Kentucky Virginia and West Virginia
Arch Coal Inc. will lay off about 750 workers in Kentucky Virginia and West Virginia as utilities shift to cleaner cheaper energy. Nearly 600 job losses occur in Kentucky with three mining complexes closed two in Kentucky and one in West Virginia.
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Louisville, Ky
Kentucky
Ruling on American Airlines contracts delayed
A federal judge delayed the ruling on whether American Airlines can break union contracts and impose cost cuts including layoffs. Judge Sean Lane postponed to June 29 to allow more time for voluntary agreements as Allied Pilots Association rejects the latest offer. AMR seeks $1.25 billion yearly labor savings and plans to cut about 12 000 union jobs after bankruptcy filing in November.
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Dallas
American Airlines
Sean Lane
New York
Allied Pilots Association
American
Bruce Hicks
AMR Corp
Pilots’ Union Board
AMR
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