Shoppers at an outlet of a discount retailer in Tokyo. Reuters
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
Japan’s government is considering downgrading its assessment of the economy next week as the intensifying Sino-US trade war takes a toll on exports and factory output, a government source with direct knowledge of the matter told Reuters. A downgrade in the crucial monthly report could fuel speculation
With unemployment at a 26-year low, Japanese companies are facing stiff competition for talent. But younger people entering the workforce often resent everything that made the Japanese corporate environment globally notorious: long hours, strict top-down discipline and rewards based on loyalty and seniority.
Spot Gold eased 0.1% to $1,947.19 per ounce by 0810 GMT. US Gold futures fell 0.5% lower to $1,953.
A record 79.5 million people worldwide, or 1% of humanity, were displaced at the end of 2019 after fleeing wars or persecution, 77% of those have lost a job or revenue since the beginning of the coronavirus pandemic.
Sweden's gross domestic product will shrink around 4.6% this year, the government said on Monday, outlining a budget bill that will pump around 105 billion crowns ($12.0 billion) into the economy to kick-start growth following the pandemic.