Uber lands $3.5 billion investment from Saudi Arabia (Times)

Uber raised $3.5 billion from Saudi Arabia’s Public Investment Fund, the kingdom’s main investment fund, in one of the largest-ever investments into a privately held start-up, The New York Times reports. The money was part of the ride-sharing company’s most recent financing round and continued...

People: Futurestep, Calibre One, Advanced Group, Heidrick and more

Futurestep, a division of Korn Ferry International Inc. (NYSE: KFY) providing recruitment process outsourcing and other services, added Kay Cooper to its Europe, the Middle East and Africa leadership team. As VP, key accounts, Cooper will manage several Futurestep global strategic client relations across...

US adds 173,000 jobs in May as job creation slows, ADP reports

US private-sector employment rose by 173,000 jobs in May from April, with job creation apparently slowing as the year progresses, according to the ADP national employment report. The number of goods-producing jobs fell by 1,000, while service-providing jobs rose by 175,000.

May’s gain was an increase...

NYC Uber drivers file IC lawsuit (Fortune)

The New York Taxi Workers Alliance, representing 5,000 Uber Technologies drivers in New York City, filed a proposed class action lawsuit on Thursday claiming the human cloud, ride-hailing company deprived drivers of various employment protections by misclassifying them as independent contractors, Fortune...

Barrett granted extension on stay of Nasdaq suspension

Barrett Business Services Inc. (NASD: BBSI), a provider of staffing and professional employer organization services, was granted an extension of its stay of suspension from Nasdaq.

Nasdaq last month notified Barrett that the company was non-compliant with the filing requirements and its common stock was...

Beige Book: Tight labor markets fueling higher wage growth

Employment grew modestly in April through mid-May, but tight labor markets were widely noted in most districts, according to the Federal Reserve’s Beige Book report released Wednesday.

The Beige Book, a collection of observations from the 12 federal regional banks, provides a snapshot of current economic...

Confidence in US economy rises among CPA execs

Optimism about the US economy among certified public accountants who hold leadership positions in their companies — such as CFO or controller — rose since last quarter, although those executives remain more guarded in outlook than they were a year ago, according to the second-quarter Economic Outlook...

Jobless claims average down 1,750

The US four-week moving average of initial claims for unemployment insurance last week edged down by 1,750 to an average of 276,750 claims, according to seasonally adjusted numbers released today by the US Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers....

Volt names new execs, including Volt Consulting Group president

Volt Information Sciences Inc. (NYSE MKT: VISI) promoted Rhona Driggs to president of Volt Consulting Group, Volt’s MSP service business. Volt also named former ManpowerGroup executive Jorge Perez as president of its Volt North American staffing business.

The company also hired Sue Tidswell as senior...

Friday’s jobs data may feel impact of strike

CNN Money reports the Verizon strike may weigh on job numbers when the US Department of Labor reports the May jobs data on Friday. Economists questioned by CNN reported the US could have added between 160,000 and 120,000 jobs. The economy is considered healthy if it adds 200,000 jobs per month.