HIGH PRESSURE JOBS
Yen slides to fresh lows as Japan authorities stick to sidelines
The Australian dollar rose on retail sales data, suggesting a Reserve Bank rate hike, while China's yuan hit an eight-month low due to local authorities' currency tolerance.
Dollar on the defensive amid lower yields, yen hovers near 38-year trough
The dollar weakens after Powell's dovish U.S. bond yield comments, amid potential Japanese intervention during U.S. holiday. Concerns over Biden presidency and easing long-term Treasury yields persist, as local inflation remains steady and the Australian dollar sees a rise.
US job openings rise to 8.1 million despite higher interest rates
U.S. job openings increased slightly to 8.1 million in May, despite higher interest rates aimed at cooling the labor market, as reported by the Labor Department. Layoffs rose slightly, while the number of Americans quitting their jobs remained stable. The economy and job market have shown resilience despite the Federal Reserve's efforts to raise rates. Job openings have decreased since a peak in March 2022, signaling a possible slowdown in the economy.
Megacaps boost Nasdaq in choppy trade; jobs data in focus
Semiconductor stocks such as Advanced Micro Devices, Arm Holdings and Micron Technology fell between 1% and 4%, pulling the Philadelphia SE Semiconductor index to a near one-week low.
Banking stocks lift Sensex, Nifty to new heights in July opening
D-Sreet closed on a positive note on Monday, with the S&P BSE Sensex gaining 443.46 points to settle at 79,476.19. The broader Nifty index also rose, adding 131.35 points to close at 24,141.95. The banking sector showed particular strength, with the banking gauge up by 0.44%. Tech Mahindra, Wipro, Bajaj Finance, Grasim Industries, and UltraTech Cement were among the top gainers, while NTPC, Eicher Motors, Apollo Hospitals Enterprise, SBI, and Dr. Reddy's Laboratories experienced declines. Market capitalisation of all the BSE listed companies increased by Rs 344,798 crore.
Apple supplier Foxconn rejects married women from India iPhone jobs
A former human-resources executive at Foxconn India said the company's executives verbally convey the recruitment rules to its Indian hiring agencies, which Foxconn tasks with scouting for candidates, bringing them in for interviews and employing them.
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Why WV Raman's credentials also deserve attention for head coach’s job
Raman played 11 Tests and 27 ODIs but it is not on the back of this that he is the best candidate for the job. After all, cricket is littered with examples of players with glittering playing records who did not come good as coaches. Equally, there are those who did not play as much as they should have — and this is certainly true of Raman — who have the ability to get the best out of players.
India business activity rises in June, job creation at 18-year high
India's business activity expanded at a faster pace this month than in May, thanks to gains in manufacturing and services. The pace of job creation was at its strongest in over 18 years, marking a strong start to the country's economy this financial year. HSBC's flash India Composite Purchasing Managers' Index rose to 60.9 in June, marking nearly three years above the 50-level separating growth from contraction.
Job creation is India's top economic challenge, policy experts say
According to a poll of policy experts by Reuters, tackling India's chronic joblessness will be the biggest challenge for the government over the next five years, despite the country's status as the world's fastest-growing major economy. The economy grew more than 8% last fiscal year, but this growth has not translated into sufficient job creation, particularly for young people. The recent parliamentary elections saw Prime Minister Narendra Modi's BJP losing its majority, partly due to issues such as widening inequality, inflation pressure, and a lack of well-paying jobs.
Flexibility, salary key jobseeker parameters for new roles in India: Report
Indian workers are demanding higher salaries to cope with rising living costs and to feel valued. Flexibility is another key concern, as per Michael Page India's Talent Trends 2024 report. Employers need to focus on broader aspects like workplace culture, diversity, equity, and inclusion to attract and retain talent. The report highlighted workplace discrimination in India and emphasised the need to address various generational priorities and challenges in different sectors.
US wholesale prices dropped in May, adding to evidence that inflation pressures are cooling
The Labor Department reported Thursday that its producer price index - which tracks inflation before it reaches consumers - declined 0.2% from April to May after rising 0.5% the month before. Measured from a year earlier, wholesale prices were up 2.2% in May. Excluding volatile food and energy prices, so-called core producer prices were unchanged from April and up 2.3% from May 2023.
Why breaks are important to work hard and achieve success, of both employees and organisations
Aditya Narayan Mishra, Managing Director and CEO of CIEL HR Services, emphasizes the importance of breaks and holidays for workplace respect and gratitude. Somdutta Singh, Founder and CEO of Assiduus Global Inc, highlights the role of breaks in preventing burnouts and promoting overall well-being.
US stocks close slightly lower; jobs data strong but rates still high
Wall Street stocks ended slightly lower on Friday after strong U.S. jobs data raised concerns about the Federal Reserve's stance on interest rates. The Labor Department reported 272,000 jobs in May, exceeding expectations, with a 4% unemployment rate.
S&P 500, Nasdaq close at record highs as data supports Fed easing
S&P 500 and Nasdaq hit record highs on Wednesday fueled by tech stocks amid expectations of Fed's easing cycle, impacting various sectors and economic indicators.
India's services sector softens to five-month low in May: PMI report
India's services growth slowed to a five-month low in May due to weaker domestic demand, despite record export growth and a 21-month high in job creation. The services PMI fell to 60.2 from 60.8 in April. Input costs rose, intensifying price pressures and possibly delaying interest rate cuts by the RBI.
The man who escaped the scam rings of Cambodia
Thousands of workers are trafficked to Southeast Asia to commit cyber fraud on their fellow citizens over social media. Ex-serviceman Botcha Sankhar, who was forced to work in the scam compounds of Cambodia for six months, unravels the modus operandi of this new and terrifying form of crime and forced labour
Survival at 15,000 feet: A tiny Himalayan village fights for water and jobs
Tucked in the Himalayas at 15,256 feet, Tashigang, home to the world's highest polling station, faces severe challenges due to climate change and limited resources. As Tashigang and neighboring Gete prepare to vote, the demand for jobs and better infrastructure is pressing. Locals like Kalzang Dolma struggle with declining agriculture and job losses. Water scarcity and inadequate roads further exacerbate their difficulties.
Dow slides 1% as bond market pressure eases after cooler economic data
The S&P 500 traded 0.2% lower and the Nasdaq composite dropped 0.3%. Yields fell on Thursday after a couple of reports showed the U.S. economy isn’t quite as strong as expected. The hope on Wall Street is that the economy can cool down, but not too much so that the Federal Reserve can hit a precise landing where it gets high inflation under control without causing a bad recession.
Normal southwest monsoon augurs well for food production, easing price pressures, says FinMin in monthly review
In its review, the Finance Ministry also reiterated its faith in India's ability to deal with adverse pressures from geopolitical tensions, while continuing to make progress on its growth numbers. "The positive indications in the farm sector should help India firewall against any adverse pressures that may arise from geopolitical tensions and global commodity prices," the review from the Finance Ministry said.
Justin Langer drops plan to become India coach after KL Rahul's advice: '1000 times more politics than IPL'
Justin Langer decided to withdraw from the race for the Team India coach position after KL Rahul's advice about the intense pressure and politics involved, which he compared to being 1000 times more challenging than coaching an IPL team.
Small cities home to big dream jobs: Hiring scene in tier 2, 3 cities gets busy
Job opportunities are growing across sectors in tier 2 and 3 cities, and professionals are eager to join, recruiters and firms said. Escalating living costs and infrastructural challenges in metros are prompting executives to move to smaller cities. Companies, on their part, are drawn by cheaper land costs, lower salaries and easy talent availability, besides rising disposable incomes in these cities.
Fed cites lack of progress on inflation, holds rates steady
Officials unanimously decided to leave the target range for the benchmark federal funds rate at 5.25% to 5.5% - where it's been since July - following a slew of data that pointed to lingering price pressures in the US economy.
US growth slowed sharply last quarter to 1.6 per cent pace, reflecting an economy pressured by high rates
The state of the US economy has seized Americans' attention as the election season has intensified. Although inflation has slowed sharply, to 3.5 per cent from 9.1 per cent in 2022, prices remain well above their pre-pandemic levels.
Tesla layoff: Indian woman in US loses job just two months after joining. Now, faces visa pressure
Tesla recently announced a substantial workforce reduction, targeting over 10% of its employees to cut costs amidst heightened competition and declining sales. Around 14,000 workers, including Sneha Karnik, a former US-based Tesla employee, were affected. Sneha expressed her shock and disappointment on LinkedIn, citing her F1-OPT visa status as an added challenge.
US Treasury yields hit new highs in wake of March jobs report
U.S. Treasury yields rose on Monday as investors continued to question how deeply the Federal Reserve will be able to cut interest rates this year after a strong March jobs report last week.
Gold takes breather after record run ahead of US jobs data
Spot gold was down 0.2% at $2,284.84 per ounce, as of 0052 GMT, after hitting a record high of $2,305.04 on Thursday. Bullion was on track for a third straight weekly gain, up 2.3% so far.
Gold extends record run, heads for best week in 5 months
Gold reached an all-time high of $2,185.19 after a report showed a rise in the U.S. unemployment rate and a moderation in wage gains despite job growth acceleration in February.
Asia shares strike seven-month high ahead of US jobs data
Japan remained an outlier as expectations mount that the Bank of Japan (BOJ) could finally exit negative interest rates this month. That lit a fire under the yen and sent domestic bond yields rising.
CXOs feel the heat amid high expectations, low tolerance
Indian CXOs encountered career-threatening events at least once last year – 23% said it was due to board disputes, according to an upGrad Harappa study. Public relations issues, economic downturns, cybersecurity breaches, market changes, regulatory/compliance matters and M&A challenges were among the other issues that leaders had to deal with, that posed a risk to their careers.
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