The U.S. economy created 209,000 new jobs in June, down from a downwardly revised 306,000 in May, according to the Bureau of Labor Statistics (BLS). This also came in below the consensus estimate of 225,000 and represented the lowest level of job creation of President Joe Biden’s time in the White House. Employment growth has…
Dollar Steady Ahead of Jobs Data, Yen Shines After Japan Wage Data
LONDON—The dollar held steady against most major currencies on Friday ahead of U.S. employment figures that could confirm rates are likely to stay higher for longer, but fell sharply against the yen, which got a boost from Japanese wage data. The U.S. nonfarm payrolls report is due later in the day and is expected to…
Oil Prices Set for 2nd Straight Weekly Gain After US Data
LONDON—Oil prices rose on Friday and were on track for their second straight weekly gain, as resilient demand resulted in a larger-than-expected fall in U.S. oil stockpiles, offsetting fears of higher U.S. interest rates. Brent crude futures were up 36 cents, or 0.5 percent, at $76.88 a barrel at 1114 GMT, while U.S. West Texas…
Stock Market Today: Asian Shares Fall as Strong US Data Dash Hopes for an End to Rate Hikes
July 7, 2023
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BANGKOK—Asian shares slipped Friday after another decline on Wall Street, where hopes for an end to interest rate hikes were again dashed by strong jobs data. U.S. futures fell and oil prices were higher. Investors were watching for updates from U.S. Treasury Secretary Janet Yellen’s visit to Beijing. Tokyo’s Nikkei 225 shed 0.6 percent to…
ANALYSIS: Is London Hiding a Regional UK Recession?
While the prospect of a UK recession is looming once again with the recent hike in interest rates, it appears the country has managed to sidestep it so far. But is London’s outsized finance-driven economy masking the fact that some British regions have actually been in a recession? Official estimates of local economic output suggest that…
Twitter Threatens Legal Action Against Meta Over Rival Threads App
July 7, 2023
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Business & MarketsCompaniesElon MuskMedia & Big TechmetaSocial MediaTechTech NewsThreadsTwitterUSUS News
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Lawyers for Elon Musk have threatened to take legal action against Meta Platforms after the Mark Zuckerberg-owned company this week unveiled a microblogging platform rivaling Twitter called Threads. In a July 5 letter (pdf) addressed to Mr. Zuckerberg, Mr. Musk’s attorney Alex Spiro wrote that Twitter has “serious concerns” that Meta has engaged in “systematic, willful, and…
Digital Banking Reality in Australia: Booking Appointments to Get Cash
Australians may have to book appointments the next time they want to withdraw cash as several major banking institutions accelerate their digitalisation process. This comes after a Queensland woman recently gained public attention after a Tiktok video describing her ordeal of withdrawing cash from a local bank branch went viral. According to the video, Taryn…
Nevada Secures $285 Million Opioid Settlement With Walgreens, Bringing Total Settlements to $1 Billion
LAS VEGAS—The state of Nevada has reached a $285 million settlement with Walgreens regarding the pharmacy chain’s role in the opioid epidemic, the state’s top lawyer announced Wednesday. The last in a series of multiyear settlements with pharmaceutical companies, retailers, and others, it pushes Nevada’s total anticipated payments stemming from opioid claims to $1.1 billion,…
Contradictory: Musician Bob Geldof Pans Claims of ‘Climate Positive’ Olympic Games
July 6, 2023
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2032 OlympicsAustraliaBrisbane Olympic GamesBusiness & Marketsclimate changeenergyEntertainmentEntertainment NewsInternationalQueenslandSportsSports NewsWorld
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Irish singer and political activist Bob Geldof has questioned claims that the 2032 Olympic Games will be “climate positive” and green. “I take the point that you’ve still got to extract minerals to get to a green policy: it seems odd and contradictory, but there you go,” he said in an interview with Queensland State…
Contradictory: Musician Bob Geldof Criticises Claim That Olympics Are ‘Climate Positive’
July 6, 2023
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2032 OlympicsAustraliaBrisbane Olympic GamesBusiness & Marketsclimate changeenergyEntertainmentEntertainment NewsInternationalQueenslandSportsSports NewsWorld
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Irish singer and political activist Bob Geldof has questioned claims that the 2032 Olympic Games will be “climate positive” and green. “I take the point that you’ve still got to extract minerals to get to a green policy: it seems odd and contradictory, but there you go,” he said in an interview with Queensland State…
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