Fewest jobless claims filed since 2007

Bloomberg: Fewer Americans filed applications for unemployment benefits over the past month than at any time in seven years, a sign the labor market continues to strengthen.The four-week average for jobless claims fell to 310,250 in the period ended May 31, the lowest since June 2007, a Labor Department report showed today in Washington, D.C.

 

GM recall probe prompts executive departures

CNNMoney: The delayed recall by General Motors that led to the deaths of at least 13 people was caused by the misconduct of about 20 employees and "a pattern of incompetence and neglect" throughout the company, according to an internal probe released today. GM CEO Mary Barra announced that 15 employees have been dismissed and five more have been disciplined in the wake of the three-month probe by former federal prosecutor Anton Valukas.

 

Sprint agrees to pay about $32 billion to buy T-Mobile: source

Reuters: Sprint Corp. has agreed to pay about $40 per share to buy T-Mobile US Inc., a person familiar with the matter said, marking further progress in the attempt to merge the third and fourth-biggest U.S. mobile network operators. The $40 price represents a 17 percent premium to T-Mobile US's closing share price on Wednesday, giving it a valuation of more than $32 billion.