Economy posts weak first quarter amid consumer pullback
The United States saw 0.7 percent GDP growth in Q1, with consumer spending rising only 0.3 percent, the slowest in over seven years. Warmer weather, auto sales downturn, and tax refund delays cited as factors. Experts expect a rebound in Q2 as job growth and wages continue, while officials push tax, regulatory, and energy policies.
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GM earnings rise in first quarter amid strategy shift
GM reports a 33 percent jump in first quarter profit to 2.6 billion dollars, a post bankruptcy high, driven by North America and China while Europe shows a 200 million loss. Barra expects immediate improvement after Opel and Vauxhall sale to PSA for 2.2 billion. a 4.5 billion charge is anticipated later this year. Goodyear also beats estimates with 166 million quarterly profit and Exxon doubles quarter profit to 4.01 billion amid higher crude prices and ongoing cost cuts.
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Farms turn to robotics to ease farm worker shortage
In Washington State robots from FFRobotics and Abundant Robotics aim to replace risky hand picking of apples berries and lettuce. They promise continuous operation and relief from labor shortages driven by immigration policy and aging workers. Industry figures warn of worker displacement and potential impacts on immigrant labor.
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