The number of Americans filing for jobless claims jumps last week, but remains at healthy levels

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By MATT OTT, Associated Press Business Writer

U.S. applications for jobless benefits jumped to their highest level in two months, but layoffs remain in a historically healthy range.

Jobless claim applications jumped by 18,000 to 241,000 for the week ending April 26, the Labor Department said Thursday. That’s more than the 225,000 new applications analysts forecast and the most since late February.

Weekly applications for jobless benefits are considered a proxy for layoffs, and have mostly stayed in a healthy range between 200,000 and 250,000 for the past few years.

The four-week average of applications, which softens some of the week-to-week volatility, rose by 5,500 to 226,000.

The total number of Americans receiving unemployment benefits for the week of April 19 climbed to 1.92 million, the most since November of 2021.

When and where does the Timberwolves’ second-round playoff series start?

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OK, so the Timberwolves have officially moved past the Lakers in five games to win their first-round series, so what’s next?

Minnesota will open its second-round series next week. That much we know. The rest is largely to be determined.

We do have potential dates and know the two potential opponents. But how and when the first-round matchup between Houston and Golden State ends determines the rest.

Here are the potential scenarios for the first four games of Minnesota’s second-round schedule, per the NBA.

The Timberwolves schedule if:

Golden State beats Houston on Friday to win the series in six games

Game 1: Monday, May 5 at Target Center

Game 2: Wednesday, May 7 at Target Center

Game 3: Friday, May 9 in San Francisco

Game 4: Sunday, May 11 in San Francisco

Golden State loses to Houston on Friday, but beats the Rockets on Sunday to win the series in seven games

Game 1: Tuesday, May 6 at Target Center

Game 2: Thursday, May 8 at Target Center

Game 3: Saturday: May 10 in San Francisco

Game 4: Monday, May 12 in San Francisco

Houston beats Golden State on Friday and Sunday to win the series in seven games

Game 1: Tuesday, May 6 in Houston

Game 2: Thursday, May 8 in Houston

Game 3: Saturday, May 10 at Target Center

Game 4: Monday, May 12 at Target Center

-Houston and Golden State play Game 6 of the first-round series in San Francisco on Friday at 8 p.m. CT. If the series requires a seventh game, that would be played at 7:30 p.m. CT on Sunday.

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Five reasons why the Timberwolves beat the Lakers in five games

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Not only did the Timberwolves upset the third-seeded Lakers in the first round of the Western Conference playoffs, but they did so handily. Minnesota downed Los Angeles in just five games, beating the Lakers twice on their home floor.

How Minnesota so drastically outperform the prognosticators’ expectations?

Five are five reasons why the Timberwolves beat the Lakers with relative ease:

Anthony Edwards

There are numerous ways in which Edwards positively impacted this series for Minnesota. The most notable was in Game 4, in which Edwards essentially stole a contest in which the Wolves were largely out-played with some sensational shot making at the start of the fourth quarter to get the Wolves back into the game, and prolific playmaking at the end to win it.

He scored 43 points to go with nine rebounds and six assists Sunday in the game that proved to be what broke the Lakers’ spirits.

But even on the nights where Edwards stat lines were less gaudy, his impact remained profound. The Lakers had no matchup for the all-star guard, meaning they had to build their entire defensive scheme around stopping him. Their gap-heavy, switch-heavy approach — designed to limit his runway to the paint — freed up Minnesota’s other players to shine.

It left Minnesota’s shooters open on the perimeter, Rudy Gobert standing by himself near the rim and created mismatches that Julius Randle was able to exploit on a nightly basis. Edwards’ offensive prowess put the Lakers in a bind from which they could not escape.

“When you play next to (him), it made the game a lot easier,” Randle said. “Because they throw two or three people at him, so you just got to be, willing to move and be in the right spaces on the floor. You got to be able to take advantage of that. There’s not a person in the world that can guard him one on one. So teams are throwing everything at him. I always tell him, ‘Go be great. But if you need me, I’m right there for us.’ I just try to make the game easy on him by attacking and putting pressure (on the defense).”

Size matters

Minnesota eviscerated the Lakers on the glass by the end of the series, culminating in a Game 5 in which Minnesota out-rebounded Los Angeles 54-37.

The Lakers’ best lineup — LeBron James, Luka Doncic, Rui Hachimura, Austin Reaves and Dorian Finney-Smith —  included five guards/wings and zero centers. That unit features five guys who can space the floor and play off the catch offensively. But while it had length, it did not have size.

So there was no one to box out Gobert on the interior. And there was no one to deter Edwards, Randle or Jaden McDaniels from attacking the paint. Small ball is great in doses, but Minnesota proved to have the size to punish the Lakers’ approach.

Minnesota’s primary advantages throughout the series were that it was bigger, faster and stronger than Los Angeles.

Volume

Those physical advantages led to Minnesota not only out-rebounding the Lakers, but also turning Los Angeles over more frequently than the Wolves gave the ball up themselves. That all meant Minnesota got more looks at the rim than the Lakers.

Minnesota took 435 shots to the Lakers’ 394 in the series. The Wolves had more shot attempts than Los Angeles in every single game. The Wolves also attempted 16 more free throws than the Lakers. The more shots you get up, the better chance you have of out-scoring your opponent.

The shear volume of attempts allowed Minnesota to win games even though the Lakers generated higher numbers of open and wide open looks in Games 2-4, and it allowed the Wolves to overcome a dreadful shooting performance Wednesday in which they went 7 for 47 from beyond the arc.

Roster Versatility

Lakers coach J.J. Redick noted there’s a “tradeoff” to every lineup decision he could make in the series. The Lakers struggled mightily to score when their lone center, Jaxson Hayes, was on the floor against Minnesota. So Los Angeles ditched Hayes in favor of small ball for all of Game 5, and the Lakers were promptly destroyed on the glass.

Frankly, given Los Angeles’ lack of depth, Redick didn’t have much in the way of available options. Yes, the Lakers clearly needed a center on the court to limit the impact of Gobert on Wednesday. But Hayes isn’t a good enough player to receive extended run in a playoff game.

Timberwolves coach Chris Finch, meanwhile, has a wide range of buttons at his disposal to press. He did so masterfully in the series. In Games 3 and 4, when it was clear Minnesota needed offense and floor spacing down the stretch, Finch turned to Naz Reid and Donte DiVincenzo. On Wednesday, when the Lakers went small, Finch was able to lean into Gobert for the big man’s interior dominance. When Minnesota needed a jolt of energy, Finch turned to rookie wing Terence Shannon Jr.

So often, depth is thought of as a mode of spreading out minutes to keep players fresh. But just as important in the playoffs is the optionality it gives a team to attack an opponent’s weaknesses and mitigate strengths.

For every challenge an opponent presents this postseason, Minnesota figures to have answers somewhere across its eight-man rotation of starter-quality players.

“I think that’s what makes this team special is you have so many guys that can start games and that can finish the game,” DiVincenzo said. “How many coaches in the NBA have that luxury?”

Defense wins

The Lakers trotted out some talented five-man scoring lineups in this series. But the effectiveness of those groupings was limited by Minnesota’s number of quality defenders. When push came to shove in the fourth quarters of every game, Minnesota’s defense tightened the screws and suffocated the Lakers’ offense.

Los Angeles shot no better than 35% from the floor in the final frame of any game, scoring no more than 20 points in a fourth quarter all series.

And, on the flip side, the Lakers didn’t have nearly enough defenders on the floor at any one time to match up with Minnesota.

It took little effort from Minnesota’s offensively to generate a tasty mismatch that Edwards, Randle or even McDaniels could exploit off the bounce to either score or collapse the Los Angeles’ defense. Two-way players are at a premium come playoff time for matchup purposes, and Minnesota’s roster is flush as many as you’ll find across the association.

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Ukraine and the US have finally signed a minerals deal. What does it include?

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By SAMYA KULLAB, Associated Press

KYIV, Ukraine (AP) — After months of tense negotiations, the U.S. and Ukraine signed a deal that is expected to give Washington access to the country’s critical minerals and other natural resources, an agreement Kyiv hopes will secure long-term support for its defense against Russia.

According to Ukrainian officials, the version of the deal signed Wednesday is far more beneficial to Ukraine than previous versions, which they said reduced Kyiv to a junior partner and gave Washington unprecedented rights to the country’s resources.

The agreement — which the Ukrainian parliament must ratify — would establish a reconstruction fund for Ukraine that Ukrainian officials hope will be a vehicle to ensure future American military assistance. A previous agreement was nearly signed before being derailed in a tense Oval Office meeting involving U.S. President Donald Trump, U.S. Vice President JD Vance and Ukrainian President Volodymyr Zelenskyy.

“We have formed a version of the agreement that provides mutually beneficial conditions for both countries. This is an agreement in which the United States notes its commitment to promoting long-term peace in Ukraine and recognizes the contribution that Ukraine has made to global security by giving up its nuclear arsenal,” Economy Minister Yulia Svyrydenko, who signed the deal for Ukraine, said in a post on Facebook.

The signing comes during what U.S. Secretary of State Marco Rubio said would be a “very critical” week for U.S.-led efforts to end the war that appear to have stalled. Ukraine sees the deal as a way to ensure that its biggest and most consequential ally stays engaged and doesn’t freeze military support, which has been key in its 3-year-old fight against Russia’s full-scale invasion.

“This agreement signals clearly to Russia that the Trump administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term,” Treasury Secretary Scott Bessent, who signed for the U.S., said in a statement.

Here is a look at the deal.

What does the deal include?

The deal covers minerals, including rare earth elements, but also other valuable resources, including oil and natural gas, according to the text released by Ukraine’s government.

It does not include resources that are already a source of revenue for the Ukrainian state. In other words, any profits under the deal are dependent on the success of new investments. Ukrainian officials have also noted that it does not refer to any debt obligations for Kyiv, meaning profits from the fund will likely not go toward the paying the U.S. back for its previous support.

Officials have also emphasized that the agreement ensures full ownership of the resources remains with Ukraine, and the state will determine what can be extracted and where.

The text of the deal lists 55 minerals but says more can be agreed to.

Trump has repeatedly expressed interest in Ukraine’s rare earth elements, and some of them are included in the list, as are other critical minerals, such as titanium, lithium and uranium.

What are rare earth elements?

They are a group of 17 elements that are essential to many kinds of consumer technology, including cellphones, hard drives and electric and hybrid vehicles.

China is the world’s largest producer of rare earth elements, and both the U.S and Europe have sought to reduce their dependence on Beijing, Trump’s chief geopolitical adversary.

They include elements such as lanthanum, cerium and scandium, which are listed in the deal.

How will the fund work?

The agreement establishes a reconstruction investment fund, and both the U.S. and Ukraine will have an equal say in its management, according to Svyrydenko.

The fund will be supported by the U.S. government through the U.S. International Development Finance Corporation agency, which Ukraine hopes will attract investment and technology from American and European countries.

Ukraine is expected to contribute 50% of all future profits from government-owned natural resources into the fund. The United States will also contribute in the form of direct funds and equipment, including badly needed air defense systems and other military aid.

Contributions to the fund will be reinvested in projects related to mining, oil and gas as well as infrastructure.

No profits will not be taken from the fund for the first 10 years, Svyrydenko said.

Trump administration officials initially pushed for a deal in which Washington would receive $500 billion in profits from exploited minerals as compensation for its wartime support.

But Zelenskyy rejected the offer, saying he would not sign off on an agreement “that will be paid off by 10 generations of Ukrainians.”

What is the state of Ukraine’s minerals industry?

Ukraine’s rare earth elements are largely untapped because of state policies regulating the industry, a lack of good information about deposits, and the war.

The industry’s potential is unclear since geological data is thin because mineral reserves are scattered across Ukraine, and existing studies are considered largely inadequate, according to businessmen and analysts.

In general, however, the outlook for Ukrainian natural resources is promising. The country’s reserves of titanium, a key component for the aerospace, medical and automotive industries, are believed to be among Europe’s largest. Ukraine also holds some of Europe’s largest known reserves of lithium, which is required to produce batteries, ceramics and glass.

In 2021, the Ukrainian mineral industry accounted for 6.1% of the country’s gross domestic product and 30% of exports.

An estimated 40% of Ukraine’s metallic mineral resources are inaccessible because of Russian occupation, according to data from We Build Ukraine, a Kyiv-based think tank. Ukraine has argued that it’s in Trump’s interest to develop the remainder before Russian advances capture more.