News roundup: Causeway tolls rise … Warren Buffett dumps a third of IBM shares … US hiring rebounds in April

    Going up: Starting Saturday, commuters will pay higher tolls to cross the bridge linking the north and south shores of Lake Pontchartrain. The increase will rise from $2 to $3 for southbound drivers on the Causeway with toll tags and from $3 to $5 for customers who pay with cash, New Orleans CityBusiness reports. Larger vehicles will be affected more. Tolls will rise from $15 to $23 for an 18-wheeler cash-paying customer. That’s an $8 increase. Toll-tag payers driving 18-wheelers will pay $22.50 per trip. The northbound side of the bridge remains free of charges.

    Down on Big Blue: Warren Buffett says he’s sold about a third of the 81 million shares he holds in IBM—beginning the sell-off once the price rose above $180, CNN Money reports. Buffett, who is IBM’s largest shareholder, bought into the company’s blue chip tech company’s stock when it was approaching an all-time high, but it’s been in decline since then as Amazon and Microsoft have dominated the cloud. “I don’t value IBM the same way that I did six years ago when I started buying,” Buffett says, adding that Berkshire Hathaway—which kicks off its annual meeting Saturday—could still buy IBM shares. Berkshire Hathaway still owns more than 50 million shares of IBM and with shares now trading below $160, Buffett says he has stopped selling. Read the full story.

    You’re hired: Hiring in the U.S. rebounded in April as employers added a hefty 211,000 jobs, a reassuring sign that the economy’s slump in the first three months of the year will likely prove temporary, The Associated Press reports. The unemployment rate dipped to 4.4%—its lowest point in a decade—from 4.5% in March, the Labor Department announced this morning. The figures suggest that businesses expect consumer demand to rebound after a lackluster first quarter, when Americans increased spending at the slowest pace in seven years, and will need more employees.

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