Three largest airlines banning hoverboards
The three largest U.S. airlines will ban hoverboards because of the potential fire danger from the lithium-ion batteries that power the devices. Delta Air Lines, American Airlines and United Airlines said Thursday they are banning hoverboards in checked or carry-on luggage. JetBlue Airways has already prohibited them. Hoverboards are motorized, two-wheel, skateboard-sized scooters that users stand on. They have been a hot gift item at some retailers. United said its ban took effect immediately, Delta's ban takes effect Friday, and American's on Saturday. Southwest Airlines prefers that passengers with a hoverboard or other items that use lithium batteries carry them on the plane, but a spokeswoman said the airline is discussing the topic further.
Weekly jobless claims rise to 5-month high
Filings for U.S. unemployment benefits jumped last week to a five-month high, interrupting steady labor-market progress. Jobless claims rose by 13,000 to 282,000 in the week ended Dec. 5, the highest level since July 4, a Labor Department report showed Thursday. The median forecast in a Bloomberg survey was 270,000. Even with the increase, applications are holding close to four-decade lows. Estimates of 43 economists in the Bloomberg survey for jobless claims ranged from 260,000 to 285,000. The prior week was unrevised at 269,000. In July, filings dropped to 255,000, the lowest since the 1970s. The four-week average of claims, a less-volatile measure than the weekly figure, rose to 270,750 from 269,250 in the prior week.
Nevada's incentives draw electric carmaker
Nevada Gov. Brian Sandoval announced a tentative agreement Thursday that would bring China-backed electric carmaker Faraday Future's $1 billion plant to a Las Vegas suburb in exchange for $335 million in state tax incentives and infrastructure investments. The Republican governor would need to call Nevada lawmakers into a special session to authorize the deal, which is a smaller package than what convinced electric carmaker.
Fiat Chrysler to pay U.S. a $70 million fine
Fiat Chrysler Automobiles will pay a $70 million fine to the U.S. government for failing to report safety data. The National Highway Traffic Safety Administration announced the fine Thursday. The fine is in addition to a $105 million penalty levied against Fiat Chrysler earlier this year for its mishandling of 23 recalls involving 11 million vehicles. The company must pay $140 million in cash and an additional $35 million if it fails to make required changes. Fiat Chrysler acknowledged earlier this fall that it failed to provide early warning data to regulators from 2003 onward.