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Total nonfarm payrolls came in stronger than expected, as economists surveyed by FactSet had called for a gain of 189,500 jobs. The US unemployment rate rose to 4.1% last month, marking the first time it has exceeded 4% since November 2021, when it was also 4.1%. Economists had anticipated the unemployment rate would remain steady at 4% in June. The change in total nonfarm payroll employment for April was revised down by 57,000, from 165,000 to 108,000, and the change for May was revised down by 54,000, from 272,000 to 218,000.  Fed rate cut 'off the table' as US economy adds 272,0...

Keir Starmer finally has the mandate and credentials to shake off the historical burden which has dogged ties between India and Britain’s Labour Party since the 1930s, a long arc that began with the jaundiced view taken of Mahatma Gandhi by Ramsay MacDonald, Labour’s first elected prime minister, and terminated in former Labour leader Jeremy Corbyn’s apparent positions on Indian policy. Starmer, who took his Labour Party to a historic landslide win in Britain’s Parliamentary elections, now has the tailwind to re-imagine London’s ties with India, which is the world’s fastest growing major economy and gaining heft.

waste management firm ReCircle has entered the textile waste management vertical with a target to process 570 million tonnes (MT) of textile waste in 12 months. The company recently launched Project Extra Life to tackle India’s textile waste problem and build a more sustainable circular economy. Until now, ReCircle has focussed on managing plastic and paper waste. In FY24, it diverted 65,364 tonnes of waste — paper, plastic, cardboard and e-waste. “We’re constantly innovating to digitise the waste supply chain, create meaningful opportunities for informal waste workers, build a closed-loop system to extend the life cycle of waste and empower India to move towards a circular future — one piece of trash at a time,” says Rahul Nainani, Co-Founder & CEO, ReCircle.

Goyal Wednesday said the four-member European nation bloc European Free Trade Association (EFTA) is keen to invest in India and the domestic industry should take advantage of that opportunity. Goyal, who is visiting Switzerland on Sunday to take forward the EFTA commitments, said that this $100 billion commitment is for foreign direct investments and not portfolio investments. Iceland, Liechtenstein, Norway, and Switzerland comprise the EFTA. In March, India and EFTA signed a free trade agreement under which New Delhi received an investment commitment of $100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties.

U.S. stocks are ticking toward more records after a report on the job market bolstered hopes that interest rates will soon get easier

Labour prime minister Keir Starmer will kickstart his plan to «rebuild Britain» on his first full day in charge Saturday, after his party's landslide election win ended 14 years of Conservative rule. Starmer spent his first hours in Downing Street on Friday appointing his ministerial team, hours after securing centre-left Labour's return to power with a whopping 174-seat majority in the UK parliament. He is expected to hold his first cabinet meeting on Saturday, with Britain's first woman finance minister Rachel Reeves and new Foreign Secretary David Lammy in attendance.

Joe Biden steps down, Kamala Harris's camp fears that Democrats would select a white candidate in her place. They contend that failing to acknowledge her would be «offensive» to black voters. After a dismal television debate with Donald Trump, Biden is facing calls to get out of the race because of his advanced age. Despite this, the Biden-Harris campaign has rejected suggestions for a younger candidate, as per the reports of 'Yahoo News'.

hospitality industry is hoping more hotels get infrastructure-linked benefits this year and that their much-awaited demand of granting infrastructure status to the sector is met. Hotel Association of India (HAI) said on Friday that infrastructure status will enable hospitality projects access to finance at better interest rates with longer repayment periods and attract investment. «The previous budgets have seen a strong focus on developing infrastructure. However, hotels have not been treated on par. The last budget announced the development of tourism in mission mode. Tourism cannot be developed without tourist accommodation,» HAI said in a statement on Friday.

U.S. stocks are moving higher, sending Wall Street toward more records

With ESG continuing to be a divisive topic among investors, a recent InvestmentNews Award winner is adding gasoline to the fire.

US President Joe Biden is behind many national surveys, especially after the first presidential debate. Many Democrats who are desperately trying to replace Biden on the ballot box have found a consensus candidate in Vice-President Kamala Harris. Biden has not stepped down and has said that he intends to contest the election. As the Democrats grapple with this challenge, Allan Lichtman, a presidential historian and professor who had correctly predicted nine out of the last 10 elections, has a word of advice for the Democrats. He has said that Biden is the best person to contest the upcoming election and Harris cannot rescue the Democrats.

Finance Minister Nirmala Sitharaman is set to present the Union Budget on July 23 in Lok Sabha. The Parliamentary session for the Budget will commence on July 22 and continue till August 22. The NDA government’s first Budget is expected to focus on sustaining economic growth with impetus to job creation, with an eye on maintaining the fiscal deficit target. All eyes are now on the Finance Minister as people eagerly await the announcement of policies and initiatives that align with their interests.

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Fewer Americans filed for unemployment benefits last week as the labor market remains sturdy despite high interest rates

 Strategas' Jason Trennert says it is hard to not be involved in the stock market on 'Maria Bartiromo's Wall Street.'

Volkswagen unit MAN Energy Solutions' gas turbine business to a Chinese company on Wednesday, with ministers citing security reasons. The decision comes amid rising trade tensions between the EU and China. Germany's economy ministry can review and stop transactions deemed to have national security implications, and Berlin and the EU are trying to reduce risks from economic ties with Beijing. The planned sale of the German business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT) was announced in June 2023 at an undisclosed price, but MAN Energy Solutions said in September the government would take a close look.

China has reported its auto sales slumped in June as the domestic economy remained sluggish, but buoyant exports offset the decline at home

Alberta has taken its share of knocks lately.

Labour Party headed for a landslide victory Friday in a parliamentary election, an exit poll and partial returns indicated, as voters punished the governing Conservatives after 14 years of economic and political upheaval. As the sun rose, official results showed Labour had 326 of the 650 seats, as vote counting continued. British Prime Minister Rishi Sunak had already acknowledged the defeat and said he called center-left Labour's leader Keir Starmer to congratulate him on becoming the country's next prime minister. Starmer will face a jaded electorate impatient for change against a gloomy backdrop of economic malaise, mounting distrust in institutions and a fraying social fabric.

Compared with its economic peers, the United States lacks social safety net programs like sick time, vacation time and health care