U.S. Added 272K Jobs in May, Blowing Past Estimates; Unemployment Rate Rises to 4.0%

June 7, 2024 Leave a Comment

Recent soft economic and inflation data combined with rate cuts this week in Europe and Canada have investors rethinking expectations about Fed policy.

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Co-founders of Silicon Valley venture capital firm back Trump’s presidential bid July 17, 2024
Ben Horowitz and Marc Andreessen, founders of A16Z, plan to give large donations to former president’s campaignThe co-founders of Silicon Valley’s most prominent venture capital firm have announced their support for Donald Trump’s bid for re-election, and plan to make substantial donations to back him further.Ben Horowitz and Marc Andreessen, the heads of Andreessen Horowitz, […]
Hackers claim Disney data theft in protest against AI-generated artwork July 16, 2024
NullBulge group said it was leaking files from Disney’s internal Slack channel to ‘protect artists’ rights’Hacktivists claim to have stolen more than a terabyte of data from Disney’s internal chat platform and are leaking the information online in a protest against what they say is the company’s anti-artist stance.The group, which calls itself NullBulge, has […]
Case of man who falsely claimed to be bitcoin inventor referred to CPS July 16, 2024
Craig Wright’s case referred for potential perjury and forgery prosecution after losing legal battle with crypto firmsThe case of Craig Wright, an Australian computer scientist who falsely claimed to be the creator of bitcoin, has been referred to the Crown Prosecution Service over a potential prosecution for perjury and forgery.In March, Wright lost a legal […]
Shares in Trump’s media group leap by a third after assassination attempt July 15, 2024
Stock market indices also rise as chances of Trump victory in November election are perceived to growTrump at RNC – live updatesShares in Donald Trump’s media company surged by about a third to reach their highest value in five weeks after the attempted assassination of the former US president, adding about $2bn (£1.5bn) to the […]
Sarah lost her savings to a ‘money mule’ scam. She says Australia’s big banks have brushed her off July 12, 2024
Consumer groups say the only way the corporate sector will adequately tackle Australia’s ‘scam epidemic’ is if they are held financially liable for lossesGet our morning and afternoon news emails, free app or daily news podcastBy her own admission, Sarah wasn’t her usual self.Her husband required intensive medical care when she made the decision to […]

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Ted Baker ‘plans to shut all its UK shops within weeks’ July 26, 2024
Hundreds of staff at the fashion chain reportedly told they will lose their jobs Ted Baker could disappear from British high streets as the struggling fashion chain plans to shut all its stores within weeks.The business behind the fashion brand’s UK shops, No Ordinary Designer Label Limited (NODL), entered administration in March. Continue reading...
Why Zuckerberg’s multibillion-dollar gamble doesn’t just matter to Meta July 26, 2024
As Llama 3.1 405B is made freely available, investors are asking when the huge industry spend will pay offSpending on artificial intelligence could hit a staggering $1tn, according to analysts concerned about whether there will be a return on such a spree. Mark Zuckerberg’s answer this week to such jitters was to release his latest […]
UK motorists still being overcharged for fuel, says watchdog July 26, 2024
Lack of competition ‘failing consumers’, with drivers paying £1.6bn more than they should have in 2023UK motorists are still being overcharged for fuel, according to the competition watchdog, which said they paid £1.6bn more than they should have last year alone.In its cost of living report, the Competition and Markets Authority (CMA) concluded that prices […]
Eight charts that lay bare Labour’s spending inheritance from Tories July 26, 2024
Rachel Reeves will next week highlight figures showing a tougher picture than Osborne received in 2010Reeves expected to reveal £20bn shortfallRachel Reeves is preparing to announce Treasury analysis of Labour’s spending inheritance from the Conservatives in parliament on Monday to highlight why she will need to make “tough decisions” in her autumn budget.The chancellor’s audit […]
Ed Miliband: people must be persuaded of need for pylons near homes July 26, 2024
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Eurostar cancels one in four trains after France arson attacks July 26, 2024
Disruption to continue all weekend and long diversions in place as passengers asked to postpone if possibleEurostar passengers travelling from London to Paris on Friday were asked to postpone trips if possible as the rail operator cancelled one in four trains over the weekend after arson attacks caused widespread disruption to France’s high-speed rail network […]
Drax Group to give shareholders £300m windfall as profits rise July 26, 2024
Owner of North Yorkshire power station earned £393m in government subsidies for biomassThe owner of the Drax power plant in North Yorkshire will give shareholders a £300m windfall after a sharp rise in taxpayer subsidies boosted its profits for the first half of the year to more than £500m.The power station, which receives hefty subsidies […]
Green economy could generate 3.3m jobs across Africa by 2030 – report July 26, 2024
Policymakers and funders are being urged to invest in training a workforce to serve the industries of the futureA greener economy could bring millions of jobs to some of the largest countries in Africa, according to a new report.Research by the development agency FSD Africa and the impact advisory firm Shortlist predicts that 3.3 million […]
Are you a cash stuffer or a doom spender? The new lingo helping people save money July 26, 2024
Move over ‘thrifty’ and ‘flashy’. A fresh wave of buzzwords are shifting people’s financial habits – meet five of themEvery Thursday night Jen Bowen, 39, a business analyst from Swindon, puts a Post-it on the fridge telling her husband how much to withdraw from the ATM or, if she needs a specific denomination note, the post […]
Climate hero or villain? Fossil fuel frenzy challenges Norway’s green image July 26, 2024
As it rapidly adopts clean technologies while drilling furiously for oil and gas, the Nordic nation is a paradoxThe average Norwegian, better known for loving nature than destroying the planet, is more likely than anyone else to drive to work in an electric car and warm their home with a heat pump. When they turn […]

U.S. Added 272K Jobs in May, Blowing Past Estimates; Unemployment Rate Rises to 4.0%

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