Bloomberg Business

Fraudulent applications for unemployment benefits in Massachusetts have been behind a recent uptick in claims in the state, according to the local government.

President Joe Biden said he’d nominate Federal Reserve Governor Philip Jefferson as vice chair and Adriana Kugler as governor, setting her on a path to become the central bank’s first policymaker of Latino heritage in its 109-year history.

US authorities are seeing historic numbers of migrants arrive at the border with Mexico, but no fresh spike following the expiration of pandemic-era border restrictions.

The London Metal Exchange is tightening rules for handling nickel by its network of warehouses, following the shock discovery earlier this year that some of its nickel contracts were instead backed by bags of stones.

Two chartered buses from Laredo, Texas, rolled into the Port Authority just before 6:30 a.m. on Friday, transporting men, women and children who had traveled thousands of miles to New York City in a bid to gain asylum in the US.

Evercore Inc. has swooped in to hire a top team of media and telecommunications bankers from Credit Suisse Group AG, who are leaving the Swiss lender in the wake of its takeover by UBS Group AG, people with knowledge of the matter said.

China and Australia’s trade ministers held their first in-person economic dialog since 2019 on Friday, with both sides pushing to resolve some of the areas of dispute that had poisoned relations.

The Biden administration’s latest plan to slash planet-warming pollution gives electric utilities years to clean up US coal and natural gas plants — but it would still force them to pick up their current pace.