US Federal Reserve policymakers are expected to leave interest rates unchanged at their meeting next week, as the US-Israel war on Iran sends shock waves through markets and recent economic data has begun to show weakness. The Fed will start its two-day meeting on Tuesday, with an announcement of the benchmark lending rate in the…
Hong Kong’s unemployment rate held steady at 3.8 per cent over the past three months, with authorities expecting that stronger economic growth and local consumption will continue to support the labour market. Preliminary data released by the Census and Statistics Department on Tuesday showed that movements in the unemployment rate in different industry sectors varied…
China’s state broadcaster CCTV has come under fire over a short film that romanticises food delivery jobs. The film told viewers that such jobs offer “the freedom to enjoy the scenery along the way” and “brings delivery workers closer to their dreams”. Netizens slammed the video for glorifying hardship and suffering, describing it as being…
United States job growth accelerated in September despite a cooling job market as the unemployment rate rose. Nonfarm payrolls grew by 119,000 jobs after a downwardly revised 4,000 drop in August, according to the Bureau of Labor Statistics (BLS) report released on Thursday. Recommended Stories list of 4 itemsend of list The unemployment rate rose…
The markets are ending the week on a low note as the global selloff continued in Asia and Europe this morning, prompted by rising uncertainty stemming from the U.S. economy. Doubts about a much-anticipated December interest rate cut from the Fed are mounting, with the likely outcome obscured by patchy data after Washington’s government shutdown….
Stocks rose on Wall Street Wednesday as more U.S. companies turn in their latest quarterly reports and several economic updates shed some light on the U.S. economy. The S&P 500 rose 0.5%. The Dow Jones Industrial Average rose 62 points, or 0.1%, as of 11:35 a.m. Eastern time. The Nasdaq composite rose 0.8%. The gains…
Computer scientist and Nobel laureate Geoffrey Hinton doubled down on his warnings about how artificial intelligence will affect the labor market and the role of companies leading the charge. In an interview with Bloomberg TV’s Wall Street Week on Friday, he said the obvious way to make money off AI investments, aside from charging fees to…
Bloomberg News is tracking the daily gyrations and cumulative impact of Donald Trump’s second term on stocks, the dollar, 10-year Treasury notes, gold and Bitcoin. Click here to see the tracker . Trick or treat? Investors may get both this Halloween week. They need to brace for “heightened volatility as investors navigate central bank policy…
If AI and crypto are not bubbles, we could be in big trouble. What if the trillions of dollars placed on those bets turn out to be good investments? The disruption will be epic, and terrible. A lot of speculative manias are just fun for a while and then the last in lose their shirts,…
New York — When 41-year-old Emily Groveman is not volunteering at a New York City animal shelter, she’s usually in her one-bedroom apartment looking for a job. “It’s been impossibly difficult,” Groveman told CBS News. “It’s been almost two years.” For almost a decade, she worked in hospitality with the NBA. “All the swag tickets…