Category: Jobs
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Newsquawk Week Ahead: US NFP & ISMs; BoC, Canada jobs; Australian GDP; Swiss CPI
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Monday:US & Canada Final Manufacturing PMI (Labor Day), Eastern Europe & UK Final Manufacturing PMI (August), China Caixin Final Manufacturing PMI (August) Tuesday: Swiss CPI (Aug), Swiss GDP (Q2), Turkish CPI (Aug), US ISM Manufacturing PMI (Aug), Final Manufacturing PMI (Aug) Get married: Bank of Canada and National Bank of…
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Klarna slashes 1,000 jobs as AI reshapes business ahead of IPO
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Klarna, a leading “buy now, pay later” fintech, has cut more than 1,000 jobs as part of a strategic shift towards artificial intelligence, with more cuts expected ahead of a potential initial public offering. The Swedish fintech, which booked a loss of SEK2.33bn (£173m) in bad loans in the first…
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KCB sheds 362 jobs in voluntary early exit
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KCB Group saw 362 of its employees accept the voluntary early retirement offer last year after the bank opened the programme at the request of its employees. Most of the voluntary exits were in the Kenyan operations, where 211 employees accepted the offer, including 100 employees at the bank’s subsidiary…
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In echo of Draghi, Powell pledges to do “everything we can” to keep the jobs market strong
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The US dollar fell sharply after a speech from Federal Reserve Chairman Jerome Powell in which he said it was time for a policy shift and added a key line about maintaining a strong labor market. “We will do everything we can to support a strong labor market while making…
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Forexlive Americas FX news wrap: USD falls as Powell pleges “everything we can” for jobs
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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British steel to cut 2,500 jobs despite £600m taxpayer-funded green initiative
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British Steel is set to close its blast furnaces in Scunthorpe by the end of the year, putting 2,500 jobs at risk. The move comes as the Chinese-owned company seeks to accelerate its transition to green steel production, despite receiving £600m in taxpayer support. The company is in talks with…
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Forexlive Americas FX news wrap: Non-farm payrolls revisions cut 818,000 jobs
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Markets: Gold falls $2 to $2511 The yield on the 10-year US Treasury note fell 2 basis points to 3.79%. West Texas Intermediate crude fell $1.26 to $71.92. S&P 500 rises 0.4% Sterling advances, dollar lags The weaker dollar was the main theme again, this time with some support as…
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Scammers prey on young Chinese desperate for jobs in bleak economy By Reuters
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By Ethan Wang and Ryan Wu BEIJING (Reuters) – A Chinese mother has taken to television to demand justice for her 19-year-old mentally disabled son after con artists tricked the desperate job seeker into having breast enlargement surgery in an incident that sparked widespread outrage. The teenager, who was hoping…
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Soft August jobs report could sway fed to deliver supersized rate cut in September By Investing.com
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Expectations of a major interest rate cut in September had lost steam after recent economic data showed that recession fears were just hype about nothing, but with the labor market now in the driver’s seat of monetary policy, the August jobs report has the potential to revive bets on a…
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Australian jobs report due 15 August 2024, the unemployment rate will not be 10.1%
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The Australian labour market report is due at 11.30am Sydney time. 0130 GMT 2130 EST (Wednesday) The unemployment rate is expected to remain steady at 4.1%. Yesterday, a special study conducted by Roy Morgan published its unemployment report for July: The “real” unemployment rate rose to 10.1% (up 1.8 percentage…
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Newsquawk Week Ahead: US CPI & Retail Sales; UK CPI & Jobs data; Aussie jobs and RBNZ
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12th-16th August 2024 Mon: OPEC Monthly Oil Market Report; Japanese Market Holiday (Mountain Day), German Retail Sales (May), Indian Trade Balance (Jul)Tue: IEA Oil Market Report, Australian Wage Price Index (Q2), UK Jobs (Jun/Jul), German ZEW Survey (Aug), US PPI (Jul)Wed: RBNZ Announcement and Quarterly MPS, Bank of Israel Announcement,…
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Dollar steady on US jobs relief as yen heads for first weekly drop in six By Reuters
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By Kevin Buckland and Sruthi Shankar TOKYO (Reuters) – The dollar hovered near a one-week high against other major currencies on Friday after the biggest drop in U.S. jobless claims in nearly a year eased fears of an impending economic slowdown. The US currency steadied against the Japanese yen after…
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USDCAD little changed after the Canada jobs report
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The USD/CAD pair was little changed after the Canadian jobs report. Although the employment change fell by -2.8K jobs versus estimates of +22.5, full-time jobs increased by 61.6K jobs. Part-time jobs fell by -64.4K jobs, which offset those gains. The strength in full-time jobs outweighed the declines in part-time jobs.…
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Kiwi Strengthened as New Zealand Quarterly Jobs Report Surprised to the Upside
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New Zealand reported a 0.4% quarter-on-quarter increase in employment for the second quarter of 2024, confounding expectations for a 0.2% decline. The country’s unemployment rate also came in better than expected at 4.6%, slightly below the consensus of 4.7%. Wage growth also beat estimates, with the labor cost index showing…
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FX Watch: NZD/CHF To Extend Its Trend After NZ’s Jobs Release?
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Like other “risk” assets, the New Zealand dollar lost ground against its safe-haven peers as optimism over low interest rates turned to concerns that a high interest rate environment was leading to recessionary conditions in the US and other major economies. The Swiss franc, in particular, found additional support from…
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Intel to cut 15,000 jobs in bid to catch up in AI chip race
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Intel, the US semiconductor giant, is set to cut 15,000 jobs as part of an aggressive effort to revitalize lagging manufacturing operations and keep up with the competitive artificial intelligence chip market. Shares of the California-based company fell 20% in after-hours trading in New York to $29.05 after announcing a…
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Dollar hits four-month low as weak US jobs data boosts rate cut bets By Reuters
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By Karen Brittl NEW YORK (Reuters) – The U.S. dollar fell to a four-month low on Friday after a weaker-than-expected July employment report raised expectations the Federal Reserve will cut interest rates by 50 basis points in September as the economy deteriorates. Employers added 114,000 jobs, missing expectations for a…
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Gold dips on weak U.S. jobs report but analysts see more record highs ahead (NYSEARCA:GLD)
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monsitj/iStock via Getty Images Gold futures ended lower on Friday, reversing earlier gains, as part of a general sell-off in riskier assets after a weak U.S. jobs report raised concerns that the Federal Reserve’s hold on interest rates could cause a real economic slowdown. the prices U.S. stocks briefly rose…
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Forexlive Americas FX news wrap 2 Aug: Bond market cuts rate for Fed after weak jobs data
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After some amazing earnings/revenue numbers from Amazon after the shutdown (revenue declines and slower consumer concerns), and a day of bad news yesterday, markets got another dose of “weakness” today in the US jobs report. The US nonfarm payrolls report for July 2024 showed a gain of just 114,000 jobs,…
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Intel slashes 18,000 jobs and suspends dividend to better compete with chip rivals Nvidia and AMD
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West Virginia Governor Jim Justice, a Republican candidate for U.S. Senate, is fighting to keep his iconic Greenbrier Hotel. A legal notice announcing the auction of the luxury resort near White Sulphur Springs over unpaid debts was published in the West Virginia Daily News on Wednesday — the latest development…