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The average bonus on Wall Street last year was $176,500. That’s down slightly from 2022

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Read time : 4 mins

Level : Intermediate

FILE — People pass the front of the New York Stock Exchange, March 22, 2023. The average Wall Street bonus fell slightly last year to $176,500 as firms took a “more cautious approach” to compensation, New York state’s comptroller reported Tuesday, March 19, 2024. (AP Photo/Peter Morgan, File)

By MICHAEL HILL Associated Press

The average Wall Street bonus fell slightly last year to $176,500, as the industry added employees and took a “more cautious approach” to compensation, New York state’s comptroller reported Tuesday.

The average bonus for employees in New York City’s securities industry was down 2% from $180,000 in 2022. The slight dip came even as Wall Street profits were up 1.8% last year, according to the annual estimate from Thomas DiNapoli, the state’s comptroller. Continue reading

Bernie Sanders wants the US to adopt a 32-hour workweek. Could workers and companies benefit?

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Read time : 3 mins

Level : Advanced

FILE – Sen. Bernie Sanders, I-Vt., talks to the media as he walks to the House chamber before President Joe Biden’s State of the Union address at the U.S. Capitol, March 7, 2024, in Washington. Sanders, the far-left independent from Vermont, introduced a bill Thursday, March 14, that would shorten to 32 hours the amount of time many Americans can work each week before they’re owed overtime. (AP Photo/Jose Luis Magana, File)

By RUSS BYNUM Associated Press

The 40-hour workweek has been standard in the U.S. for more than eight decades. Now some members of Congress want to give hourly workers an extra day off.

Sen. Bernie Sanders, the far-left independent from Vermont, this week introduced a bill that would shorten to 32 hours the amount of time many Americans can work each week before they’re owed overtime.

Given advances in automation, robotics and artificial intelligence, Sanders says U.S. companies can afford to give employees more time off without cutting their pay and benefits.

Critics say a mandated shorter week would force many companies to hire additional workers or lose productivity. Continue reading

What’s Pi Day all about? Math, science, pies and more

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Read time : 4 mins

Level : Intermediate

A freshly decorated Key Lime pie rests on a counter in a busy bakery kitchen at Michele’s Pies, Wednesday, March 13, 2024, in Norwalk, Conn. Math enthusiasts and bakers celebrate Pi Day on March 14 or 3/14, the first three digits of a mathematical constant with many practical uses. Around the world many people will mark the day with a slice of sweet or savory pie. (AP Photo/John Minchillo)

By CURT ANDERSON Associated Press

Math enthusiasts around the world, from college kids to rocket scientists, celebrate Pi Day on Thursday, which is March 14 or 3/14 — the first three digits of an infinite number with many practical uses.

Around the world many people will mark the day with a slice of pie — sweet, savory or even pizza.

Simply put, Pi is a mathematical constant that expresses the ratio of a circle’s circumference to its diameter. It is part of many formulas used in physics, astronomy, engineering and other fields, dating back thousands of years to ancient Egypt, Babylon and China.

Pi Day itself dates to 1988, when physicist Larry Shaw began celebrations at the Exploratorium science museum in San Francisco. The holiday didn’t really gain national recognition though until two decades later. In 2009, Congress designated every March 14 to be the big day — to hopefully spur more interest in math and science. Fittingly enough, the day is also Albert Einstein’s birthday.

Here’s a little more about the holiday’s origin and how it’s celebrated today.

WHAT IS PI?

Pi can calculate the circumference of a circle by measuring the diameter — the distance straight across the circle’s middle — and multiplying that by the 3.14-plus number.

It is considered a constant number and it is also infinite, meaning it is mathematically irrational. Long before computers, historic scientists such as Isaac Newton spent many hours calculating decimal places by hand. Today, using sophisticated computers, researchers have come up with trillions of digits for pi, but there is no end.

WHY IS IT CALLED PI?

It wasn’t given its name until 1706, when Welsh mathematician William Jones began using the Greek symbol for the number.

Why that letter? It’s the first Greek letter in the words “periphery” and “perimeter,” and pi is the ratio of a circle’s periphery — or circumference — to its diameter.

WHAT ARE SOME PRACTICAL USES?

The number is key to accurately pointing an antenna toward a satellite. It helps figure out everything from the size of a massive cylinder needed in refinery equipment to the size of paper rolls used in printers.

Pi is also useful in determining the necessary scale of a tank that serves heating and air conditioning systems in buildings of various sizes.

NASA uses pi on a daily basis. It’s key to calculating orbits, the positions of planets and other celestial bodies, elements of rocket propulsion, spacecraft communication and even the correct deployment of parachutes when a vehicle splashes down on Earth or lands on Mars.

Using just nine digits of pi, scientists say it can calculate the Earth’s circumference so accurately it only errs by about a quarter of an inch (0.6 centimeters) for every 25,000 miles (about 40,000 kilometers).

IT’S NOT JUST MATH, THOUGH

Every year the San Francisco museum that coined the holiday organizes events, including a parade around a circular plaque, called the Pi Shrine, 3.14 times — and then, of course, festivities with lots of pie.

Around the country, many events now take place on college campuses. For example, Nova Southeastern University in Florida will hold a series of activities, including a game called “Mental Math Bingo” and event with free pizza (pies) — and for dessert, the requisite pie.

“Every year Pi Day provides us with a way to celebrate math, have some fun and recognize how important math is in all our lives,” said Jason Gershman, chair of NSU’s math department.

At Michele’s Pies in Norwalk, Connecticut, manager Stephen Jarrett said it’s one of their biggest days of the year.

“We have hundreds of pies going out for orders (Thursday) to companies, schools and just individuals,” Jarrett said in an interview. “Pi Day is such a fun, silly holiday because it’s a mathematical number that people love to turn into something fun and something delicious. So people celebrate Pi Day with sweet pies, savory pies, and it’s just an excuse for a little treat.”

NASA has its annual “Pi Day Challenge” online, offering people plenty of games and puzzles, some of them directly from the space agency’s own playbook such as calculating the orbit of an asteroid or the distance a moon rover would need to travel each day to survey a certain lunar area.

WHAT ABOUT EINSTEIN?

Possibly the world’s best-known scientist, Einstein was born on March 14, 1879, in Germany. The infinite number of Pi was used in many of his breakthrough theories and now Pi Day gives the world another reason to celebrate his achievements.

In a bit of math symmetry, famed physicist Stephen Hawking died on March 14, 2018, at age 76. Still, Pi is not a perfect number. He once had this to say:

“One of the basic rules of the universe is that nothing is perfect. Perfection simply doesn’t exist. Without imperfection, neither you nor I would exist.”

Associated Press video journalist John Minchillo contributed from Norwalk, Connecticut.

Libraries struggle to afford the demand for e-books, seek new state laws in fight with publishers

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Read time : 3 mins

Level : Advanced

Casey Rosseau prepares to walk his dog Darcy while listening to an e-book in West Hartford, Conn., Feb. 1, 2024. Rosseau, who estimates he reads about 200 books a year, said he’d like to see more regulation of what publishers can charge libraries. Libraries have been grappling with soaring costs of digital titles, both e-books and audio books, that libraries typically lease from publishers for a year or two, with limited usage. (AP Photo/Jessica Hill)

By SUSAN HAIGH Associated Press

HARTFORD, Conn. (AP) — Whenever bestselling author Robin Cook releases a new medical thriller, the head of the public library in West Haven, Connecticut knows demand for digital copies will be high. So will the price.

Like many libraries, West Haven has been grappling with the soaring costs of e-books and audiobooks. The digital titles often come with a price tag that’s far higher than what consumers pay. While one hardcover copy of Cook’s latest novel costs the library $18, it costs $55 to lease a digital copy – a price that can’t be haggled with publishers.

And for that, the e-book expires after a limited time, usually after one or two years, or after 26 check outs, whichever comes first. While e-books purchased by consumers can last into perpetuity, libraries need to renew their leased e-material. Continue reading

International Women’s Day is a celebration and call to action. Beware the flowers and candy

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Read time : 4 mins

Level : Intermediate

FILE – Women attend a protest marking International Women’s Day, March 8, 2023, in Berlin, Germany. Women across the world will demand equal pay, reproductive rights, education, justice and other essential needs during demonstrations marking International Women’s Day on Friday, March 8, 2024. (AP Photo/Markus Schreiber, File)

By REGINA GARCIA CANO Associated Press

MEXICO CITY (AP) — Women across the world will demand equal pay, reproductive rights, education, justice, decision-making jobs and other essential needs during demonstrations marking International Women’s Day on Friday.

Officially recognized by the United Nations in 1977, International Women’s Day is commemorated in different ways and to varying degrees in places around the world. Protests are often political and, at times, violent, rooted in women’s efforts to improve their rights as workers.

Demonstrations are planned from Tokyo to Mexico City, and this year’s global theme is “Inspire Inclusion.”

Here is what to know about the March 8 global event:

WHAT IS INTERNATIONAL WOMEN’S DAY?

International Women’s Day is a global celebration — and call to action — marked by demonstrations, mostly of women, around the world, ranging from combative protests to charity runs. Some celebrate the economic, social and political achievements of women, while others urge governments to guarantee equal pay, access to healthcare, justice for victims of gender-based violence and education for girls. Continue reading

Kids are using phones in class, even when it’s against the rules. Should schools ban them all day?

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Read time : 3 mins

Level : Advanced

A ninth grader places his cellphone into a phone holder as he enters class at Delta High School, Friday, Feb. 23, 2024, in Delta, Utah. At the rural Utah school, there is a strict policy requiring students to check their phones at the door when entering every class. Each classroom has a cellphone storage unit that looks like an over-the-door shoe bag with three dozen smartphone-sized slots. (AP Photo/Rick Bowmer)

By JOCELYN GECKER AP Education Writer

SAN FRANCISCO (AP) — In California, a high school teacher complains that students watch Netflix on their phones during class. In Maryland, a chemistry teacher says students use gambling apps to place bets during the school day.

Around the country, educators say students routinely send Snapchat messages in class, listen to music and shop online, among countless other examples of how smartphones distract from teaching and learning.

The hold that phones have on adolescents in America today is well-documented, but teachers say parents are often not aware to what extent students use them inside the classroom. And increasingly, educators and experts are speaking with one voice on the question of how to handle it: Ban phones during classes. Continue reading

$1B donation makes New York medical school tuition free and transforms students’ lives

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Read time : 3 mins

Level : Intermediate

The campus of the Albert Einstein College of Medicine is seen, Tuesday, Feb. 27, 2024, in the Bronx borough of New York. The medical school will be tuition-free for all students from now on thanks to a $1 billion donation from former professor Ruth Gottesman, the widow of a Wall Street investor. (AP Photo/Mary Altaffer)

By MICHAEL CASEY Associated Press

First year student Samuel Woo had been considering a career in cardiology so he would be able to pay off his medical school debt until the announcement this week of a generous donation that will remove tuition fees at his New York City school.

Now, without the fear of crippling student debt, the 23-year-old whose parents emigrated from South Korea said Tuesday that he can afford to pursue his dream of providing medical services to people living on the streets.

“I was definitely very emotional and it changes a lot,” said Woo, who had been working as a tutor and at a cafe to help cover his costs. Continue reading

Consumers are increasingly pushing back against price increases — and winning

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Read time : 4 mins

Level : Advanced

Stuart Dryden reaches for an item at a grocery store on Wednesday, Feb. 21, 2024, in Arlington, Va. Dryden is aware of big price disparities between branded products and their store-label competitors, which he now favors. (AP Photo/Chris Rugaber)

By CHRISTOPHER RUGABER AP Economics Writer

WASHINGTON (AP) — Inflation has changed the way many Americans shop. Now, those changes in consumer habits are helping bring down inflation.

Fed up with prices that remain about 19%, on average, above where they were before the pandemic, consumers are fighting back. In grocery stores, they’re shifting away from name brands to store-brand items, switching to discount stores or simply buying fewer items like snacks or gourmet foods.

More Americans are buying used cars, too, rather than new, forcing some dealers to provide discounts on new cars again. But the growing consumer pushback to what critics condemn as price-gouging has been most evident with food as well as with consumer goods like paper towels and napkins. Continue reading

Presidents Day: From George Washington’s modest birthdays to big sales and 3-day weekends

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Read time : 4 mins

Level : Intermediate

FILE – The likeness of George Washington is seen on a U.S. $1 bill, March 13, 2023, in Marple Township, Pa. (AP Photo/Matt Slocum, File)

By BEN FINLEY ASSOCIATED PRESS

NORFOLK, Va. (AP) — Like the other Founding Fathers, George Washington was uneasy about the idea of publicly celebrating his life. He was the first leader of a new republic — not a tyrant.

And yet the nation will once again commemorate the first U.S. president on Monday, 292 years after he was born.

The meaning of Presidents Day has changed dramatically, from being mostly unremarkable and filled with work for Washington in the 1700s to the consumerism bonanza it has become today. For some historians the holiday has lost all discernible meaning.

Historian Alexis Coe, author of “You Never Forget Your First: A Biography of George of Washington,” said she thinks about Presidents Day in much the same way as the towering monument in D.C. that bears his name. Continue reading

Dandelions and shrubs to replace rubber, new grains and more: Are alternative crops realistic?

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Read time : 4 mins

Level : Advanced

Katrina Cornish, a professor at Ohio State University who studies rubber alternatives, harvests rubber dandelion seeds inside a greenhouse, Tuesday, Feb. 6, 2024, in Wooster, Ohio. Cornish spends her days raising dandelions and desert shrubs. She harvests the stretchy rubber substances they produce and uses special machines to dip them into condoms, medical gloves and parts for trachea tubes. (AP Photo/Joshua A. Bickel)

By MELINA WALLING Associated Press

Katrina Cornish spends her days raising dandelions and desert shrubs. She harvests the stretchy rubber substances they produce and uses special machines to dip them into condoms, medical gloves and parts for trachea tubes. And she thinks those products could forever alter the landscape of agriculture in the United States.

Cornish, a professor at Ohio State University who studies rubber alternatives, isn’t the only one pouring energy into alternative crops like that desert shrub, guayule, or the rubber dandelions that bloom with yellow petals in the greenhouse where Cornish works. In Arizona, too, guayule thrives amidst drought, its blue-green leaves set apart from dry dirt at a research and development farm operated by the tire company Bridgestone. And in Nebraska and other parts of the central U.S., green grasses of sorghum spring up, waving with reddish clusters of grains. Continue reading