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☆ US stock futures tip lower, yen stumbles and euro shines
▼ + stars: | 2023-06-28 | by ( Nell Mackenzie | ) www.reuters.com time to read: +4 min

“Maybe we’ll see some successes on inflation here and there, but it just won’t be enough,” said Rossiter. European inflation and rate hike hints from the Portugal meeting were also a focus for Tim Graf, head of EMEA macro strategy at State Street Global Advisors. “Recession probability models in the U.S. project a 55-70% to 65-70% probability we’ll get a recession in the next 12 months. Markets imply a 90% probability of an ECB rate hike to 3.75% in July and a peak around 4.0%. That underpinned the euro against the dollar at $1.095, while keeping it near a 15-year peak of 157.98 yen.

Persons: Jerome Powell, Kim Kyung, Christine Lagarde, Kazuo Ueda, ”, James Rossiter, Rossiter, Martins Kazaks, Tim Graf, they’re, we’ve, it’s, Graf, Masato Kanda, Brent Organizations: Federal, National Printing Bureau, Bank of Japan, REUTERS, Nvidia, Wall Street Journal, Commerce Department, Treasury, European Central Bank, TD Securities, ECB, Street Global Advisors, U.S . Locations: China, Tokyo, Japan, Portugal, “, Europe, London, U.S

☆ Britain is facing a mortgage crisis. There are no easy answers
▼ + stars: | 2023-06-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

Mortgage painThe announcement comes a day after the Bank of England raised interest rates by half a percentage point to help bring down stubborn inflation. More than 2 million UK mortgage holders paying a fixed interest rate are facing an increase of hundreds of pounds in monthly repayments when they are forced to refinance this year and next. Many borrowers bought their homes when mortgage rates were closer to 1% or 2%. That sets the country apart from other major economies, including the United States, where on both measures inflation has started to ease. After the latest rise in interest rates Thursday, Hunt said the government would “stick to [its] guns” on keeping rates high to tame high prices.

Persons: Rishi Sunak, Jeremy Hunt, Sarah Coles, Hargreaves Lansdown, ”, Matt Hammerstein, David Duffy, Debbie Crosby, James Manning, ” Max Mosley, Jake Berry, Sunak, Liz Truss, Brexit, Mark Carney, Charlie Bean, Hunt, ” — Hanna Ziady Organizations: London CNN, UK Treasury, HSBC, Lloyds Banking Group, Barclays, BCS, CNN, Bank of England, National Institute of Economic, Social Research, Virgin Money, Conservative Party, Institute for Fiscal Studies, European Union, Bank of, Daily Telegraph, BBC Radio Locations: United Kingdom, United States, Britain

☆ Take Five: The only way is up
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +6 min

June 23 (Reuters) - It's been a turbulent week or two for markets, with one central bank after another making it very clear the only way for rates right now is up as inflation tightens its grip on the global economy. Bad news could be taken as a positive, if traders see it as a way of pushing authorities to offer more support to the economy - as long as it eventually arrives. Make your way to the foothills of Portugal's Sintra mountains from Monday through Wednesday. The agenda is, of course, inflation, inflation, inflation. Many expect initial attempts to talk the currency higher - "jawboning", in central bank jargon - before considering whether direct intervention is needed.

Persons: It's, Yoruk, Lewis Krauskopf, Naomi Rovnick, Amanda Cooper, it's, Big Tech's, CHRISTINE, Christine Lagarde, Yannis Stournaras, Jan Harvey Organizations: Investors, Federal, Credit Suisse, Big Tech, Federal Reserve, European Central Bank, Traders, ECB, Reuters Graphics Reuters, Analysts, Thomson Locations: Portugal, Rae Wee, Singapore, Amsterdam, New York, London, U.S, Beijing, China, Portugal's Sintra, SWEDEN, Swedish

☆ Bank of England hikes interest rates to 5%, stoking fears of a ‘mortgage bomb’
▼ + stars: | 2023-06-22 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

London CNN —The Bank of England raised interest rates by half a percentage point Thursday, after data this week revealed surprisingly stubborn inflation. Many mortgage holders due to refinance their loans this year and next bought their homes when interest rates were much lower and mortgage rates were closer to 1% or 2%. Capital Economics is forecasting a 12% decline in house prices between their August 2022 peak and 2024. If interest rates must stay higher for longer to tame inflation, house prices could fall more sharply. “If mortgage rates were to stay at 6% for several years, a house price fall of 25% would be likely,” Wishart said.

Persons: we’ve, Andrew Bailey, ”, Jake Berry, Rishi Sunak, ” Simon Pittaway, Tom Bill, Knight Frank, Bill, Banks, ” Bill, “, There’s, Andrew Wishart, ” Wishart Organizations: London CNN —, Bank of England, ” Bank of England, ” Financial, “, Institute for Fiscal Studies, UK Finance, CNN, Savings, Capital Economics Locations: United Kingdom, United States, Europe, —

☆ US jobless claims hold at 20-month high, existing home sales tick up in May
▼ + stars: | 2023-06-22 | by ( Dan Burns | ) www.reuters.com time to read: +6 min

The median expectation among economists polled by Reuters was for 260,000 new claims. The latest reading compared with a median economists' estimate of 1.782 million so-called continued claims. Existing home sales rose 0.2% to a seasonally adjusted annual rate of 4.3 million units last month, the National Association of Realtors said. Economists polled by Reuters had forecast home sales would fall to a rate of 4.25 million units. Home resales, which account for the largest share of U.S. housing sales, tumbled 20.4% on a year-on-year basis in May.

Persons: Thomas Simons, Simons, Jerome Powell, Lawrence Yun, Dan Burns, Chizu Organizations: Bureau of Labor Statistics, Reuters, Jefferies, Investors, National Association of Realtors, Economists, Mortgage, Association, Thomson Locations: Massachusetts, South, West, Northeast, Midwest

☆ Rescuers make last desperate push as final hours of oxygen on missing Titanic submersible tick down
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: +7 min

An undated photo shows tourist submersible belongs to OceanGate begins to descent at a sea. But the crew had only a four-day oxygen supply when the vessel, called the Titan, set off around 6 a.m. Sunday. The full area being searched was twice the size of Connecticut in waters as deep as 13,200 feet (4,020 meters). "This is a search and rescue mission, 100%," he said Wednesday. An undated photo shows tourist submersible belongs to OceanGate begins to descent at a sea.

Persons: OceanGate, Captain Jamie Frederick, Donald Murphy, Frederick, Carl Hartsfield, Frank Owen, Owen, Arthur Loibl, Capt, Jamie Frederick, Scott Eisen, Rush, Jeff Karson, Karson Organizations: US Coast Guard, OceanGate, Anadolu Agency, Getty, First Coast Guard District, Coast, Patrol, Navy, Oceanographic Systems Laboratory, U.S . Navy, Stockton Rush, OceanGate Expeditions, U.S, U.S . Coast Guard, CBC, Syracuse University Locations: Boston, Canada, Connecticut, Atlantic, U.S, British, St, John's, Norfolk , Virginia, Germany, Cape Cod, Boston , Massachusetts

☆ The Windrush generation still struggling to be compensated after Home Office failings
▼ + stars: | 2023-06-22 | by ( Caolán Magee | ) edition.cnn.com time to read: +14 min

In 2018, the Windrush Compensation Scheme was set up to provide compensation to victims of the scandal. The Home Office has not yet responded to CNN’s request for comment on these cases and its wider handling of the Windrush Compensation Scheme. The Windrush Compensation Scheme is an extension of a hostile environment for Black and Brown people.”For some people, any compensation awarded is too late. “We were told compensation was on the way so we could get a carer for my dad – but it was too late,” Abiona told CNN. He is now making a Windrush compensation claim through the Home Office to save up for a headstone for his father’s grave.

Persons: London CNN — Carl Nwazota, Nwazota, –, ”, “, I’m, it’s, Windrush, Britain’s, Theresa May, ” Nwazota, Anna Steiner, ” Steiner, Charlotte Tobierre, Charlotte Tobierre “, you’ve, Thomas Tobierre, Caroline, ” Tobierre, Thomas ’, ” Thomas Tobierre, Steiner, Zita Holbourne, ” Holbourne, Anthony Bryan, Bryan, Chris J Ratcliffe, Janet, Suella Braverman, Alex Cavendish, NurPhoto, Subira Cameron, Goppy, Brown, Ramya, Taiwo Abiona, Stella, Kemi Abiona, ” Abiona, Abiona Organizations: London CNN, Home Office, CNN, Office, British Home Office, Daily Herald, NGO Human Rights Watch, Home, “, Protesters, Windrush, Clinic, Conservative, Royal Mail Locations: London, Wembley, Jamaica, Nigeria, British, Britain, South Asia, Africa, Tilbury, Essex, –

☆ Opinion | To Jail or Not to Jail
▼ + stars: | 2023-06-17 | by ( Maureen Dowd | ) www.nytimes.com time to read: +1 min

WASHINGTON — Studying “Hamlet,” the revenge play about a rotten kingdom, I tried for years to fathom Hamlet’s motives, state of mind, family web, obsessions. His consciousness was so complex, Harold Bloom wrote, it seemed bigger than the play itself. Now I’m mired in another revenge play about a rotten kingdom, “Trump.” I’ve tried for years to fathom Donald Trump’s motives, state of mind, family web, obsessions. The man who dumbed down the office of the presidency is a less gratifying subject than the smarty-pants doomed prince. Trump is feral, focused on his own survival, with no sense of shame or boundaries or restraint.

Persons: WASHINGTON, Harold Bloom, “ Trump, ” I’ve, Donald, Trump, ” David Axelrod, “, ”

☆ Oil prices tick up as markets look to key Chinese economic data
▼ + stars: | 2023-06-15 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

Companies United States of America FollowJune 15 (Reuters) - Oil prices edged higher on Thursday, recovering some ground from the previous day's plunge on worries about future U.S. interest rate hikes, with markets now looking to key Chinese economic data for demand indications. Both benchmarks fell 1.5% on Wednesday after the U.S. Federal Reserve projected more rate hikes this year, triggering fears a higher interest rate environment would slow the economy and lower oil demand. Attention on Thursday turned to China, the world's top oil importer, set to announce key May economic data, including retail sales and industrial production. Investors are looking for signs of improvement in the country's patchy economic recovery or further stimulus from Beijing. In another bearish sign on oil demand, U.S. crude oil stocks rose by about 8 million barrels in the week ended June 9, according to data from the Energy Information Administration.

Persons: Brent, Arathy Somasekhar, Sonali Paul Organizations: . West Texas, U.S . Federal Reserve, U.S, European Central Bank, Bank of England, Energy Information Administration, Analysts, Thomson Locations: States, America, U.S, China, Beijing

☆ Le Mans 24 Hours: Ferrari wins prestigious endurance race after 50-year absence
▼ + stars: | 2023-06-12 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

Victory was Ferrari’s 10th top level win at Le Mans and its first since 1965. Michael Fassbender pictured during the Test Day of the 24 Hours of Le Mans on June 4, 2023. Frédéric Le Floc'h/DPPI/ShutterstockFassbender made his Le Mans debut last year, crashing out twice during the race but eventually finishing a very respectable 51st out of 62 with Proton. “Car #911 is no longer running the Le Mans 24 race. “Le Mans was no[t] kind to us this year!”

Persons: CNN — Ferrari, Ferrari, Ferrari’s Antonio Fuocco, Antonio Giovinazzi, Alessandro Pier Guidi, James Calado, Alessandro it’s, ” Giovinazzi, ”, James Moy, Charles Leclerc, it’s, I’m, Michael Fassbender, Frédéric Le, Shutterstock Fassbender, Le, “ Le Organizations: CNN, Formula One, Le, Triple Crown, Monaco, Prix, Indianapolis, Toyota, Le Mans, AF Corse Ferrari 499P, James Moy Photography, Eurosport, “, Porsche, Germany’s Proton, Proton Locations: Formula, Italian, Le Mans

☆ Australia aim for 'legacy defining' moment by completing WTC-Ashes double
▼ + stars: | 2023-06-11 | by ( Pritha Sarkar | ) www.reuters.com time to read: +2 min

LONDON, June 11 (Reuters) - For Australia captain Pat Cummins, Sunday's crushing victory over India in the World Test Championship (WTC) final signalled a perfect start to what he hopes will be a "legacy defining" stay in England. It's not going to be easy but if we were to win it, that is legacy defining stuff." Their WTC triumph was hailed by the International Cricket Council, who wrote on Twitter: "The all-conquering Australia have now won every ICC Men's Trophy". That bulging trophy cabinet includes five 50-over World Cups, one T20 World Cup, two Champions Trophy prizes and now the WTC mace. "To make it to the (WTC) final you've got to win everywhere in the world.

Persons: Pat Cummins, Sunday's, Cummins, we've, It's, you've, Pritha Sarkar, Toby Davis Organizations: Australia, WTC, Edgbaston, International Cricket Council, Twitter, ICC, The, Cummins, Thomson Locations: India, England, Australia

Trump's prior indictment in New York on charges alleging falsification of business documents didn't move the political needle much. But there is recent polling that explains what Americans think about the prospect of Trump being charged with crimes, including some specifically about an indictment related to his handling of classified documents. Meanwhile, 63% of Americans, called "taking highly classified documents from the White House and obstructing efforts to retrieve them" a serious crime. Ahead of Trump's indictment in Manhattan, Quinnipiac University asked Americans whether they thought criminal charges, not an indictment, should disqualify Trump from running. A slim majority of all voters, 52%, said that in his New York indictment, Trump has been treated like anyone else accused of those same crimes and hasn't been unfairly targeted.

Persons: Donald Trump, —, Trump's, Trump, it's, Joe Biden, hasn't, Jan Organizations: —, White House, Republicans, Trump, White, Yahoo, Quinnipiac University, NBC, Republican, GOP, DeSantis, Associated Press, NORC Center for Public Affairs Research Locations: New York, Manhattan, York, Florida

☆ China launches nationwide car purchase campaign as May sales tick up
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

BEIJING/SHANGHAI, June 8 (Reuters) - China on Thursday announced a nationwide campaign to promote automobile purchases in a major push to shore up demand in the world's largest auto market. The commerce ministry said it would coordinate and push local authorities to roll out targeted policies and measures in favour of car consumption. The campaign will target multiple car sales categories including both new and secondhand vehicles, it added, and push to replace gasoline cars with new energy vehicles (NEVs) such as battery-driven cars and plug-in petrol-electric hybrids. PRICE CUTS, NEW PRODUCTSThe China Passenger Car Association (CPCA) said on Thursday said passenger vehicle sales in China totalled 1.76 million vehicles in May. Sales of NEVs rose 10.5% in May from April and accounted for 32.9% of total May sales, CPCA data showed.

Persons: Cui Dongshu, Graphics Tesla, Qiaoyi Li, Zhang Yan, Brenda Goh, Kim Coghill, Jan Harvey Organizations: Ministry of Commerce, China Passenger Car Association, Reuters, Graphics, Thomson Locations: BEIJING, SHANGHAI, China

☆ Companies are worried about a recession, but they’re hanging on to employees anyway
▼ + stars: | 2023-06-08 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —US companies wary about their economic prospects are battening down the hatches. Recent job market data shows more and more businesses have taken to “labor hoarding” and maintaining headcounts even as demand softens. Employees work at CannaCraft's March and Ash retail cannabis store in San Diego's Mission Valley neighborhood. Grey Duck’s sales picture will become clearer in the next three months, Bossen said. “We’re going to do whatever it takes to keep that staff employed and productive, even if things slow down,” he said.

Persons: ”, Dana Peterson, ” Peterson, it’s, Ash, Tiffany Devitt, CannaCraft, Ash CannaCraft, “, Devitt, Stephen Juneau, they’re, Matt Bigelow, Gusset Jean, Bigelow, ‘ Waddle, Rob Bossen, Grey, Eli Nord, Bossen, “ We’re, waddle Organizations: Minneapolis CNN, Conference Board, Conference, Business, CNN, Golden State, of Labor Statistics, Bank of America, Labor, Bureau of Labor Statistics, USA Brands, Gusset Jean Co, Vermont, Company Locations: Minneapolis, ”, headcount, California, Golden, Diego's, CannaCraft, Sonoma County, Juneau, Vermont, Johnson , Vermont, Roseville , Minnesota, China, Roseville

☆ Inflation is alive, the Fed could hike rates again, and businesses are facing greater uncertainties today than in the past 50 years, former Home Depot CEO says
▼ + stars: | 2023-06-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Consumer-price pressures remain high in the US, suggesting the Fed could hike interest rates again, according to Robert Nardelli. I think we still got a way to go," the former Home Depot CEO said. That view is at odds with market expectations that the Fed will likely pause its interest-rate hikes this month. That could mean the Fed will raise interest rates further, Nardelli said, especially with May's strong payroll report showing the labor market remains robust, with US employers adding 339,000 jobs. The nation's central bank has already hiked interest rates by 500 basis points since early 2022 in a bid to tame soaring price pressures.

Persons: Robert Nardelli, —, Nardelli, Neil Cavuto, I've Organizations: Home, Service, Federal Reserve, Fox Business, Chrysler

☆ Oil prices tick down with OPEC meeting in rear view
▼ + stars: | 2023-06-06 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

Brent crude futures were down 23 cents, or 0.3%, at $76.48 a barrel at 0020 GMT. The voluntary cut, Saudi Arabia's biggest in years, is on top of a broader deal by the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia to limit supply into 2024 as OPEC+ seeks to boost flagging oil prices. The OPEC+ pumps around 40% of the world's crude. Market participants are now waiting to see if the U.S. Federal Reserve will hike or hold interest rates in June for more trading cues. Traders pegged the chances of the Fed pausing its interest rate hikes at its June 13-14 meeting at 78%, according to the CME FedWatch Tool.

Persons: Brent, Christine Lagarde, Arathy Somasekhar, Himani Sarkar Organizations: Brent, U.S . West Texas, Saudi Arabia's, Organization of, Petroleum, U.S . Federal, Traders, Central Bank, ECB, Thomson Locations: Saudi Arabia, U.S, Russia, OPEC, Vienna, Nigeria, Angola, Houston

☆ How to stay healthy this summer, according to an expert
▼ + stars: | 2023-06-06 | by ( Katia Hetter | ) edition.cnn.com time to read: +7 min

Stay healthy so you can have fun all summer with family and friends. Maskot/Getty ImagesCNN: What should people consider as they aim to have fun and stay healthy this summer? How can people prevent Lyme disease, and why is this important? Wen: Lyme disease is the most common vector-borne disease in the United States. Short-term, Lyme disease manifests as muscle aches, joint pain, fever, rash and headaches.

Persons: they’ve, Leana Wen, Wen, Maskot, Lyme, don’t, enteroviruses, Enteroviruses Organizations: CNN, George Washington University Milken Institute School of Public Health, Getty, US Centers for Disease Control Locations: Lyme, enterovirus, United States, Covid

☆ Ticks die when they bite him. This man's immunity to ticks could pave the way for a tick vaccine.
▼ + stars: | 2023-06-03 | by ( Emily Swaim | ) www.businessinsider.com time to read: +7 min

He has acquired tick resistance, which may help guide research and development of a tick vaccine. (But don't go searching for ticks just to try and build immunity, since you might contract a debilitating tick-borne disease.) "There clearly has been an increase in recent decades in the incidence of tick-borne disease in the human population. CDCThe latest US Centers for Disease Control and Prevention data reported 50,865 cases of tick-borne disease across the US in 2019. The Lyme disease vaccine currently in development would only protect against the bacteria Lyme borreliosis, meaning you could still get other tick-borne diseases.

Persons: Richard Ostfeld, welt, aren't, JUAN GAERTNER, Ostfeld, Ostfelt, Lyme, Remus Belododia, haven't Organizations: Service, for Disease Control, National Center for Emerging, Vector, CDC Locations: Lyme, Alaska, Maine

☆ Jobs Report Today: Dow Futures Rise Ahead of Monthly Employment Data
▼ + stars: | 2023-06-02 | by ( ) www.wsj.com time to read: +1 min

Stock futures are edging higher after the Senate voted to raise the debt limit , averting a default. Meantime, investors are awaiting Friday's jobs report , due at 8:30 a.m. The Labor Department’s employment report has consistently topped expectations in recent months. Futures for the Dow and S&P 500 futures both rose 0.5%, asdid contracts tied to the tech-heavy Nasdaq-100. Futures for Brent crude, the global oil benchmark, wavered around $75 a barrel ahead of Sunday’s OPEC meeting.

Persons: Biden, Hang Seng Organizations: Treasury Department, Labor, Dow, Nasdaq, Employers, Treasury, Overseas, Nikkei, Brent Locations: Europe

☆ VIEW US payrolls rise more than expected in May
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +5 min

Nonfarm payrolls increased by 339,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. "This low wage inflation number is very good news for those of us who believe the Fed should pause." "The unemployment rate surprisingly moved from 3.4% to 3.7%. "We've seen some earnings warnings, there's a big lag in monetary policy, and we saw the unemployment rate tick up to 3.7%. Makes you wonder, is there going to be a rise in the (labor market) participation rate.

Persons: KIM FORREST, PETER CARDILLO, RILEY, we've, they're, We've, OLIVER PURSCHE, There's Organizations: YORK, Federal Reserve, Labor Department, Treasury, HOGAN, Fed, NEW, Global Finance, Markets, Thomson Locations: PITTSBURGH

☆ Can You Survive Summer?
▼ + stars: | 2023-06-02 | by ( Hannah Seo | ) www.nytimes.com time to read: 1 min

From sunburn to heatstroke to tick bites and even bear encounters, are you prepared for the challenges of the season? Take our quiz to find out.

☆ Why the Trump tape is so important for the documents investigation
▼ + stars: | 2023-06-02 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +13 min

The main takeaway for me: prosecutors must determine if classified information meets a sort of Goldilocks test. It is about criminalizing (the information) being kept outside of a protected area, even by somebody who is allowed to have classified information. … All of the discussion has been about how Trump and others may have handled documents after knowing there’s a criminal investigation that exists. We know there’s an obstruction of justice investigation around that. A key thing in an obstruction of justice investigation is knowing that there’s a proceeding that you could potentially be obstructing, like a criminal investigation.

Persons: Donald Trump’s Mar, Trump, Katelyn, we’ve, – that’s, It’s, there’s, he’s, they’ve, We’re, Donald Trump, Margo Martin, … Trump, Bob Woodward, Woodward, WOLF, I’m, Mark Milley, …, Mueller, There’s, Justice Department won’t Organizations: CNN, White, Fox News, Justice Department, Trump, FBI, Joint Chiefs, Staff Locations: Lago, Iran, CNN’s Washington, New Jersey, Bedminster, Mar, Florida, POLANTZ, Washington , DC, what’s, Russia, Durham, litigate

☆ Opinion: Ambitious, tech-savvy and jobless. Why India’s young people could reshape the internet
▼ + stars: | 2023-06-02 | by ( Opinion Snigdha Poonam | ) edition.cnn.com time to read: +10 min

Her book, “Dreamers: How Young Indians Are Changing Their World,” was longlisted in 2019 for the PEN America Literary Awards. Unlike China, which leveraged its demographic dividend through large-scale factory employment, India’s economic growth does not rely on young workers manufacturing goods. Catering to a market of 750 million smartphone users, India’s fast-growing gig economy is attracting young workers in great numbers. As incidents of abuse and exploitation pile up, many of India’s gig workers are questioning their career choice. Feeding the social media monsterThere are other ways in which India’s young people are shaping the future of technology.

Persons: ”, Raju Rai, Rai, “, ” Rai, Dhiraj Singh, Mithun Kumar, Kumar, hyperlocal, Jewel Samad, Mohit Yadav, Monu Manesar Organizations: PEN, CNN, Delhi CNN, Facebook, Catering, Bloomberg, Getty, YouTube, Big Tech, Twitter, New York Times Locations: Delhi, India, Thailand, Indian, Varanasi, Bangkok, Myanmar, Uttar Pradesh, Kerala, Southeast Asia, Europe, China, Mumbai, Bihar, Covid, AFP

☆ Jobs report: What to expect from the May data
▼ + stars: | 2023-06-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

But despite all that, the labor market has kept humming right along. And that’s largely expected to be the case, again, in Friday’s monthly jobs report from the Bureau of Labor Statistics. Private sector employment increased by 278,000 jobs in May, according to ADP’s monthly National Employment Report, frequently seen as a proxy for the government’s official number. Labor turnover data released Wednesday showed that the US employment market remained tight in April. The government’s May jobs report is scheduled for Friday at 8:30 a.m.

Persons: ” Daniel Zhao, that’s, ” Julia Pollak, “, Pollak, ”, Michael Feroli, Matthew Martin, ” Pollak, it’s Organizations: Minneapolis CNN, Federal Reserve, Bureau of Labor Statistics, “, ”, Commerce Department, CNN, Labor, JPMorgan, Oxford Economics, Challenger, Conference Locations: Minneapolis, April’s

☆ Salesforce delivers a quarterly beat and raise, showing Benioff can deliver on profitability
▼ + stars: | 2023-05-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

The small beat and raise are prompting some profit-taking, resulting in shares falling roughly 6% after hours Wednesday, to around $210 apiece. The best way to offset sluggish revenue growth is by driving profitability higher and Salesforce stepped up to the task. Quarterly Commentary We are pleased to see Salesforce beat across so many key metrics, despite the challenging macroeconomic environment. Although the company left its revenue prediction unchanged, at $34.5 billion to $34.7 billion, the company expects its profitability will come in better than previously anticipated. Marc Benioff, co-founder and CEO of Salesforce, speaks at an Economic Club of Washington luncheon in Washington, DC, on Oct. 18, 2019.

Persons: Refinitiv ., Salesforce, Marc Benioff, Einstein, Slack, Jim Cramer's, Jim Cramer, Jim, Nicholas Kamm Organizations: Salesforce, CNBC, Economic, Washington, AFP, Getty Locations: Americas, Europe, Africa, Asia, Washington ,

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