May 2010 Current Events: Business News
Here are the key events in business and science news for the month of May 2010.
- United, Continental Announce Merger (May 3): The chairmen of United Airlines and Continental Airlines announce their intent to merge, with United's purchase of Continental. The new enormous airline company will have 10 national hubs and will be bigger than the current leader, Delta Air Lines.
- U.S. Economy Adds 290,000 Jobs in March (May 7): The U.S. economy added 290,000 jobs in March, the biggest gain in four years. However, the unemployment rate rose slightly, from 9.7% to 9.9%. This is mostly due to people who had previously given up looking for work restarting their job search.
- Apple Passes Microsoft as Most Valuable Technology Company (May 26): In a stunning turnaround over the last decade, Apple passes Microsoft as the world's top technology company. Apple, the maker of the ubiquitous iPods, iPhones, and now iPads is headed by co-founder Steve Jobs; Microsoft, founded by Bill Gates, the creator of Windows and Office software, has dominated the technology industry for over 20 years.