U.S. employers added just 12,000 jobs last month as hurricanes and strikes sharply reduce payrolls

WASHINGTON (AP) — America's employers added just 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls. The report provided a somewhat blurry view of the job market at the end of a presidential race that has pivoted heavily on voters' feelings about the economy. Last month's hiring gain was down significantly from the 223,000 jobs that were added in September. But economists have estimated that Hurricanes Helene and Milton, combined with strikes at Boeing and elsewhere, had the effect of pushing down net job growth by tens of thousands of jobs in October. The unemployment rate remained at a low 4.1%.

Apple sells $46 billion worth of iPhones over the summer as AI helps end slump

SAN FRANCISCO (AP) — Apple snapped out of a recent iPhone sales slump during its summertime quarter. That's an early sign its recent efforts to revive demand for its marquee product with an infusion of artificial intelligence are paying off. Sales of the iPhone totaled $46.2 billion for the July-September period, a 6% increase from the same time last year, according to Apple's fiscal fourth-quarter report released Thursday. That improvement reversed two consecutive year-over-year declines in the iPhone's quarterly sales and helped Apple to deliver total revenue and profit that exceeded the analyst projections, excluding a one-time charge of $10.2 billion to cover back taxes in Europe. Apple's stock still dipped in extended trading.

Exxon Mobil profit tops Wall Street in third quarter, helped by Pioneer Natural acquisition

Exxon Mobil's third-quarter profit beat analysts' expectations, as the oil and gas giant was helped by contributions from Pioneer Natural Resources, a recent acquisition. Exxon earned $8.6 billion, or $1.92 per share, for the three months ended on Sept. 30. A year earlier the Spring, Texas-based company earned $9.07 billion, or $2.25 per share. The performance topped Wall Street's expectations, though Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts surveyed by Zacks Investment Research were calling for earnings of $1.91 per share.

Lyft pays $2.1 million to settle case alleging the ride-hailing service deceived drivers

SAN FRANCISCO (AP) — Lyft is paying $2.1 million to settle a lawsuit accusing the ride-hailing service of exaggerating how much money drivers could make while the company was trying to recover from a steep downturn in demand during the pandemic. The agreement disclosed Friday by the U.S. Justice Department formalizes a settlement Lyft reached with the Federal Trade Commission over the same issues October 25. Both agencies had alleged Lyft advertised deceptive compensation rates during 2021 and 2022 in an effort to recruit more drivers as the pandemic eased and ride-hailing demand perked up.

Financial market worries over the U.K. budget appear to ease

LONDON (AP) — Worries about this week's tax-raising U.K. budget within financial markets appear to have eased with the interest rates charged on British debt steadying and the pound rising against most other currencies. In the wake of Wednesday's budget statement, the first by a Labour government for 14 years, British financial assets have been choppy, with investors taking a more risk-averse approach by selling both government bonds and the pound. The budget saw taxes raised by 40 billion pounds ($52 billion), proportionately the biggest for over three decades, and borrowing and spending increased — a combination that clearly unnerved some investors. On Friday, the yield, or interest rate, charged on the U.K.'s 10-year bonds held steady, while the pound rose.