The US central bank rolled out a major policy change on Thursday that gives greater weight to its mission of maximising employment to benefit lower income families, while ratcheting back its emphasis on fighting inflation.
The number of people in work in Britain has suffered the biggest drop since 2009 and signs are growing that the coronavirus will take a heavier toll on the labour market as the government winds down its huge job-protection scheme.
Global diamond supply chains convulsed by the coronavirus pandemic and most workers in India’s diamond industry switched to other jobs. Miners seek new supply deals to boost margins and mines from Canada to Lesotho are still shuttered.
Deutsche Bank shares rose on Monday as it launched one of the biggest overhauls of its investment bank since the financial crisis by cutting 18,000 jobs around the world, starting the day with cuts in Asia.
US job growth rebounded strongly in June, with government payrolls surging, but persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Federal Reserve to cut interest rates this month.
The new North American free trade pact would modestly boost the US economy, especially auto parts production, but may curb vehicle assembly and limit consumer choice in cars, a hotly anticipated analysis from the US International Trade Commission showed.
Spain’s unemployment rate edged closer to 15 per cent in the first quarter as its services sector shrank, highlighting a persistent weak link in the economy days before a hotly contested national election. The rate rose to 14.7 per cent from 14.45 per cent in the last three months of 2018, data showed on Thursday.
New orders for US-made capital goods increased by the most in eight months in March, hitting their highest level on record and brightening the outlook for manufacturing and the economy.
US job growth slowed sharply in May and wages rose less than expected, raising fears that a loss of momentum in economic activity could be spreading to the labour market,