Select a category
Instablog9ja
18 m
11
Actress Rita Edochie told OAP Radiogad who called out VeryDarkMan for allegedly d3frauding a U.S.-based Nigerian homos3xual.
She said If what you’re accusing VDM of is true, then you’re also gay. Why are you people bent on using his past to hold him down. I doubt the authenticity of this update about him. My love and support for VDM remains undying whether you call him gay or a so3cerer
Click to watch
:max_bytes(150000):strip_icc()/GettyImages-2156510225-cda047b31a464ca7a679527396006bf3.jpg)
Job growth in the U.S. likely slowed down in June, after a surprising jump the previous month.
The monthly employment report to be released Friday by the Bureau of Labor Statistics is expected to show that employers added 200,000 jobs last month and that the unemployment rate held steady at 4%, according to economists surveyed by the and That's less than the 272,000 jobs added in May.
“Big Data measures continue to indicate a below-normal pace of job creation during the spring hiring season, and our layoff tracker is also edging higher from low levels,” Goldman Sachs economists said in a recent research note.
The jobs numbers will be watched closely by officials at the Federal Reserve, who have kept interest rates at a 23-year high for almost a year as part of an effort to contain inflation. Weakness in the labor market could prompt the central bank to consider cutting its benchmark rate, which would be welcome news for consumers and investors alike.
Economists at Wells Fargo said they will be looking to see if job growth remains concentrated in a few sectors—particularly health care, government, and leisure and hospitality. While those industries account for 36% of all jobs, they make up 66% of the job growth since last June, the economists found. These sectors have rebounded after COVID-19-related job losses and haven’t been as strongly affected by high interest rates.
“We expect these three categories to continue to provide a sizable lift to the monthly rate of payroll gains that surpasses their pre-pandemic contribution and helps keep payroll gains afloat despite the current weight of monetary policy,” wrote Wells Fargo economists Sarah House and Aubrey George.
However, those categories are expected to provide less lift to the economy than in previous months. Wells Fargo economists expect job growth to slow over the next 12 months, dropping down to a pace of about 150,000 jobs a month.
In another report on the job market Wednesday, there were some indicators of slowing ahead.
The ADP employment report came in under economists' expectations and slowed for the third month. In June, the private sector added 150,000 jobs as leisure and hospitality jobs accounted for more than two out of every five new jobs.
The report from the payroll services provider is often seen as a precursor to the Bureau of Labor Statistics (BLS) report. ADP's employment numbers only cover private companies and do not include government jobs.
While the labor market has remained solid thus far, San Francisco Federal Reserve President Mary C. Daly said in remarks last week that the longer interest rates stay elevated at decades-high levels, the bigger impact they could have on unemployment, potentially forcing the Fed to move more quickly on rate cuts.
“So far, the labor market has adjusted slowly, and the unemployment rate has only edged up. But we are getting nearer to a point where that benign outcome could be less likely,” Daly said.
Do you have a news tip for Investopedia reporters? Please email us at tips@investopedia.comRead more on Investopedia
Fourth Of July Spending On Food Expected To Decline This Year
Americans Plan To Spend Less On Foo...
Investopedia
1 h
13
:max_bytes(150000):strip_icc()/GettyImages-11275009441-31c055c4dcea48829b1e2b16bddaf86d.jpg)
Americans plan to spend less on food for Independence Day celebrations this year than in 2023, according to a survey from the National Retail Federation.
The survey indicated that consumers are expecting to spend $9.4 billion on food and other goods associated with holiday celebrations this year, down from $9.5 billion last year. That would amount to $90.42 in planned per-person spending this year, down from more than $93 last year, the group said. Those numbers are higher than pre-pandemic levels.
Americans expect to spend almost $3 billion more dollars on Independence Day food items than they did in 2020. This year, 87% of people are planning on celebrating the holiday, the same as last year, with about two-thirds planning to host or attend a cookout.
Last year, the survey pointed to record growth in spending.
A smaller percentage of people are planning on traveling or going on vacation during the holiday compared with last year, according to the survey, but fireworks and community celebrations are expected to be more popular.
Do you have a news tip for Investopedia reporters? Please email us at tips@investopedia.comRead more on Investopedia
Instablog9ja
2 hrs
12
President Tinubu has congratulated Prime Minister, Kier Starmer, on election victory.
He said, he warmly congratulate Prime Minister Keir Starmer on the victory of the Labour Party in the United Kingdom general election.
As a former leader of the opposition in Nigeria, Hr specially note the determination and courage that the Prime Minister demonstrated throughout his years in the opposition and as the leader of the Labour Party.
The party’s ability to reform, mobilize, and position itself for victory after 14 years affirms the leadership qualities of Sir Starmer.
He also congratulate the citizens and the government of the United Kingdom for being an abiding model of democracy.
He looked forward to deepening relations between Nigeria and the United Kingdom in mutual areas of interest and in strengthening democratic institutions, as well as in building a safer and more prosperous future for the people of both countries.
Saks Fifth Avenue Parent Reportedly Set To Buy Neiman Marcus
HBC, The Parent Company Of Luxury D...
Investopedia
2 hrs
10
:max_bytes(150000):strip_icc()/GettyImages-2152081848-6034c394290e49ecb437405e089ca74b.jpg)
HBC, the parent company of luxury department store Saks Fifth Avenue, has signed a $2.65 billion deal to buy rival retailer Neiman Marcus with support from Amazon (AMZN), according to reports.
The merger has been approved by both companies' boards after months of negotiation, reported on Wednesday, citing sources close to the matter. An official announcement could come as soon as Wednesday evening, the report said.
Amazon is reportedly to take a minority stake in the new company alongside Salesforce (CRM). The new company, which the reported will be called Saks Global, will be run by Saks CEO Marc Metrick.
The move could help the companies better compete in a difficult luxury retail environment.
HBC acquired Saks in 2013.
Do you have a news tip for Investopedia reporters? Please email us at tips@investopedia.comRead more on Investopedia
Investopedia
3 hrs
14
:max_bytes(150000):strip_icc()/INV_ParamountBuilding_GettyImages-1247972540-fdb652682100432aa12641fe7c460c90.jpg)
Major U.S. equities indexes were mixed in an abbreviated day of trading Wednesday, with the closing bell sounding at 1 p.m. ET ahead of Thursday's Fourth of July festivities.
The S&P 500 closed the pre-holiday session 0.5% higher, notching a record closing high for the second consecutive day. The tech-heavy Nasdaq also continued its record-setting ways, advancing 0.9% to a new high. The Dow ended the day with a minimal decline, pressured by losses in shares of UnitedHealth (UNH) and other components in the health-care sector.
Shares of Paramount Global (PARA) rose 6.9%, marking the top performance in the S&P 500, following reports that the entertainment giant has reached a preliminary agreement for a merger with production company Skydance Media. Negotiations between the companies had reportedly stalled last month, leading to speculation about potential alternative suitors for Paramount.
The reported deal will involve Skydance acquiring National Amusements, the holding company owned by Shari Redstone that controls the majority of Paramount's voting shares, and then merging with Paramount.
Shares of solar panel manufacturer First Solar (FSLR) gained 6.6%, recovering from losses posted Tuesday after investment firm Baird lowered its price target on the stock, citing adjusted pricing and cost forecasts. First Solar remains well-positioned to meet increasing demand for clean energy to power artificial intelligence (AI) data centers, but the outcome of this fall's presidential election could have a significant impact on the company, which has benefited from tariffs and tax credits under the Biden administration.
Tesla (TSLA) shares remained in the fast lane, jumping 6.5%. Wednesday, adding to gains posted in the previous session after the electric vehicle (EV) manufacturer reported better-than-expected vehicle deliveries for the second quarter. The carmaker is set to release its quarterly earnings report on July 23, with Citi analysts saying that attention will be focused on Tesla's auto gross margins and potential updates on product launches.
Shares of pharmacy giant Walgreens Boots Alliance (WBA) tumbled 4.1%, suffering the heaviest losses of any S&P 500 component, after UBS analysts slashed their price target on the stock. Wednesday's move lower extended steep declines posted last week after Walgreens missed quarterly estimates, cut its guidance, and announced that it would close underperforming stores.
Alcoholic beverage producer Constellation Brands (STZ) reported mixed earnings results for its fiscal first quarter of 2025, topping earnings per share (EPS) forecasts but posting revenue just a tick below expectations. The company's Modelo Especial brand remains the top-selling beer in the U.S., and beer sales jumped year over year, but sales of wine and spirits dropped. After initially bubbling higher, Constellation Brands shares changed course, ending the session down 3.3%.
Humana (HUM) shares slipped 3.2% amid news of a class-action lawsuit filed against the health insurer. The complaint alleges that the company materially misled investors about the potential earnings impact of pent-up demand for medical procedures following the pandemic, which led to increased insurance use rates that damaged the company's bottom line.
Do you have a news tip for Investopedia reporters? Please email us at tips@investopedia.comRead more on Investopedia
