Business

Canada loses 30,600 jobs in July, jobless rate remains at record low 4.9%

Canada’s economy lost a net 30,600 jobs in July, in both full-time and part-time work, Statistics Canada said on Friday. The jobless rate remained at a record low 4.9%. Analysts surveyed by Reuters had expected an increase of 20,000 jobs in July, and for the unemployment rate to increase to 5.0%. COMMENTARY DOUG PORTER, CHIEF […]

Business

Rouble steadies, stocks down ahead of return of some foreign investors

The Russian rouble stabilised in the 60-61 range to the dollar on Friday, lacking significant growth drivers going into the weekend, while stocks fell as the market prepared for a partial return of foreign investors. At 1254 GMT, the rouble was little changed on the day at 60.41 against the dollar and had gained 0.4% […]

Business

U.S. July payrolls rise more than expected

U.S. job growth surged much more than expected in July and the unemployment rate ticked lower, giving the Federal Reserve enough cushion to stay on its aggressive rate hike path as it tries to tame inflation. Nonfarm payrolls increased by 528,000, the Labor Department’s employment report showed on Friday. June was revised upward to show […]

Business

VinFast hiring 8,000 additional employees to boost production

Vietnam’s VinFast is looking to hire 8,000 more employees for its electric-vehicle plant in Vietnam as it ramps up production to deliver its first battery-powered SUVs to the United States by the end of this year, the company said. VinFast, a unit of Vietnam’s biggest conglomerate Vingroup (VIC.HM), currently employs 6,000 people in total. “New […]

Business

Snickers maker apologises for advert suggesting Taiwan is a country

Mars Wrigley, maker of the Snickers candy bar, apologised on Friday for a Snickers product launch which Chinese social media users said suggested that Taiwan was a country. Videos and pictures showing a Snickers website promoting a limited edition Snickers bar and saying the product was only available in the “countries” of South Korea, Malaysia […]

Business

Canada’s Ivey PMI shows activity contracting in July

Canadian economic activity contracted in July for the first time this year as employment growth slowed and prices cooled, Ivey Purchasing Managers Index (PMI) data showed on Friday. The seasonally adjusted index fell to 49.6 from 62.2 in June, the first time since December 2021 that the index was below the 50 threshold that marks […]

Business

What are the snags in Germany’s gas levy on consumers?

Germany’s cabinet agreed late on Thursday to impose a gas price levy on consumers, aiming to help struggling importers including Uniper (UN01.DE) cope with soaring prices due to reduced Russian supply. The levy aims to share the additional cost of replacing gas from Russia among all users, including households and industrial consumers, with the proceeds […]