Category: Jobs
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Nvidia, chip stocks drag tech lower as new Biden export rules, jobs report weigh
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Nvidia (NVDA) stock fell on Friday along with other chipmakers after a December jobs report pushed expectations of additional interest rate cuts from the Federal Reserve and ahead of expected restrictions on chip exports from the Biden administration. Nvidia stock fell 3%, while AMD (AMD) fell 4.8% and PHLX Semiconductor…
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S&P 500 Wipes Out 2025 Gains on Big Jobs Surprise: Markets Wrap
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(Bloomberg) — Stocks took a hit and bond yields rose along with the dollar, with traders cutting their bets on an interest rate cut by the Federal Reserve this year after a surprise jobs report. Most read from Bloomberg Stocks erased the advance they made in 2025, with the S&P…
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Dow, S&P 500, Nasdaq futures sink as jobs report blows past expectations
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US stock futures fell on Friday as cautious investors digested a final 2024 jobs report that smashed previous expectations on employment, raising more uncertainty about the path of interest rates this year. Dow Jones Industrial Average futures (YM=F) fell approximately 0.7%, while S&P 500 futures (ES=F) fell 0.8%. Contracts on…
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Dow, S&P 500, Nasdaq futures sink as jobs report blows past expectations
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US stock futures fell on Friday as cautious investors digested a final 2024 jobs report that smashed previous expectations on employment, raising more uncertainty about the path of interest rates this year. Dow Jones Industrial Average futures (YM=F) fell approximately 0.7%, while S&P 500 futures (ES=F) fell 0.8%. Contracts on…
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Dow, S&P 500 edge higher with Trump tariffs, jobs report in focus
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The US dollar (DX=F, DX-Y.NYB) continued its recovery on Wednesday, adding gains after the currency was on track to hit a one-week low. This is after a report published by the Washington Post on Monday Which indicates that President-elect Donald Trump will not commit to a strict tariff plan. But…
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Oil rises on tighter OPEC supply, US jobs data
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Written by Ghislaine Lehr SINGAPORE (Reuters) – Oil prices rose on Wednesday as supplies from Russia and members of the Organization of the Petroleum Exporting Countries (OPEC) tightened, while data showing an unexpected increase in the number of job vacancies in the United States pointed to expanding economic activity and…
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Firms slash jobs at quickest rate in four years following budget tax hikes
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Companies shed jobs at the fastest pace in four years last month after rising staffing costs and growing uncertainty from the fall budget dented confidence, according to the latest S&P Global data. Excluding pandemic-era figures, the decline in headcount was the steepest in more than 15 years, with nearly a…
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December US Jobs Report to Cap Year of Moderate Hiring
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Breadcrumb links PMN works U.S. employers may have eased hiring last month to end a year of moderate but still healthy job growth, which economists expect to continue into 2025. Article writer: Bloomberg News Vince Juhl and Craig Sterling Published on January 04, 2025 • 5 minute read You can…
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UK workforce set to hit record low as sickness surge takes toll on jobs market
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Britain’s workforce will fall to a record low, as growing numbers of people who cannot work well will weaken the economy’s future prospects, according to the tax and spending watchdog. New projections from the Office for Budget Responsibility (OBR) suggest that the proportion of over-16s either in work or looking…
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Treasuries Rally as Mixed Jobs Data Fuels December Fed Cut Bets
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Breadcrumb links BMN Business US Treasuries rose and traders boosted their bets on a Fed rate cut this month after a mixed November employment report. Article writer: Bloomberg News Michael Mackenzie and Edward Bolingbroke Published on December 6, 2024 • 3 minute read You can save this article by registering…
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Ministers consider renationalising British Steel to save thousands of jobs
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The UK government is considering renationalizing British Steel in a bid to protect thousands of jobs at its Scunthorpe site, amid stalled negotiations with its Chinese owner, Jingyi, over a £1bn investment plan. Business Minister Jonathan Reynolds is leading discussions with Jingye to determine a financing agreement for the company’s…
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Vauxhall to close Luton plant, over 1,100 jobs at risk amid EV mandate pressures
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Stellantis, the parent company of Vauxhall, has announced plans to close its van manufacturing plant in Luton next April, putting more than 1,100 jobs at risk. The decision comes amid increasing pressure from the UK government’s stringent electric vehicle (EV) sales targets, part of the Zero Emission Vehicle (ZEV) mandate.…
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AI Tools Enhance Productivity Without Reducing Jobs, Say European Start-Ups
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A recent study by venture capital firm Index Ventures, which surveyed 600 European technology startups, revealed that the majority do not believe the adoption of AI tools will lead to job losses. Half of the companies surveyed view investing in AI as an opportunity to hire more employees, while an…
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Mulberry cuts 85 jobs as sales fall 19% amid global luxury downturn
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Luxury fashion brand Mulberry has announced a significant restructuring plan after announcing a 19% drop in group revenues to £56.1 million for the six months to September 28. Newly appointed CEO Andrea Baldo revealed 85 jobs – nearly a quarter of the company’s 350-person workforce – were being cut as…
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Mulberry cuts 85 jobs as sales fall 19% amid global luxury downturn
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Luxury fashion brand Mulberry has announced a significant restructuring plan after announcing a 19% drop in group revenues to £56.1 million for the six months to September 28. Newly appointed CEO Andrea Baldo revealed 85 jobs – nearly a quarter of the company’s 350-person workforce – were being cut as…
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Week Ahead in FX (Nov. 11 – 15): U.S. Inflation And Global Jobs Data To Take Center Stage
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Get ready for another action-packed trading week, Forex friends! Important data this week includes US inflation reports, the labor market from the UK and Australia, and China data that could shake market sentiment. But before all that, make sure you are aware of the global market movements and key currency…
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Asda cuts jobs and mandates office attendance amid turnaround efforts
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Asda is mandating head office staff to work on site at least three days a week, while also announcing job cuts to streamline operations and stabilize its market position. The changes, sent in an internal email by interim chief executive Lord Rose, affect more than 5,000 employees in Leeds and…
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Week Ahead in FX (Oct. 28 – Nov. 1): Global GDP and Inflation Reports, Plus BOJ and U.S. Jobs Updates
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With a full slate of GDP, inflation, and central bank updates, markets are bracing for a whirlwind of economic insights this week. With the Bank of Japan, global data and US jobs numbers coming in, traders will be studying each report for clues about future interest rate paths and growth…
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AUD Sharply Higher as Australian Economy Added 64.1K Jobs in September
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Australian jobs numbers for September were mostly in the green, with the economy reporting a much faster pace of hiring for the month at 64.1k versus an expected increase of 25.2k. This was enough to keep the unemployment rate at 4.1% instead of the expected reading of 4.2%. The previous…
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FX Watch: AUD/NZD and AUD/CHF Bullish Setups on Tight Aussie Jobs Data
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Our events guide to the September Australian jobs report suggests that jobs growth may continue, albeit at a slower pace. Stronger than expected numbers will support the RBA’s stance that the labor market remains tight, giving the central bank more reason to stick to its less pessimistic bias compared to…