In June, the US labor market added 206,000 jobs while the unemployment rate rose to 4.1%, the highest since 2021, indicating potential underlying challenges despite positive job growth.
Sectors
Carlos Slim Invests $1.2 Billion to Establish Gulf of Mexico Gas Field
Mexican billionaire Carlos Slim’s company, Grupo Carso SAB, announced that it was investing $1.2 billion to develop a vast gas field in the Gulf of Mexico.
Ohio Chamber of Commerce Rejects $15 Minimum Wage Proposal, Citing Increased Labor Costs
Proposals to raise Ohio’s minimum wage to $15 per hour have failed this year due to insufficient signatures, delaying the initiative to potentially appearing on the ballot in 2025, following opposition from businesses.
Chinese GAC and Turkish EV Maker TOGG Discuss Joint Electric Vehicle Venture
Chinese automaker GAC is in talks with Turkey's TOGG for potential joint EV production ventures, a potential bilateral cooperation in both countries' automotive sectors.
Paypal Australia Unit Used Unfair Term in Small Business Contracts, Court Finds
PayPal's Australian branch has used an unfair term in its standard contracts with small business clients, according to a federal court.
Latest News
Brazil's former president Jair Bolsonaro was indicted by the country's Federal Police for alleged money laundering and criminal association.
President Joe Biden faces pressure from prominent donors within his party, including Disney heiress Abigail Disney, who announced she would cease funding to the Democratic Party.
Bitcoin dropped to its lowest level in two months on Thursday. Bitcoin dropped to its lowest level in two months on Thursday. According to Reuters, the cryptocurrency's value fell over 2% to $57,843, marking its lowest point since May 2 and losing over 6% this week alone.
A second Donald Trump presidency could lead to a rise in long-term US Treasury yields, according to Edmond de Rothschild Asset Management's Chief Investment Officer Benjamin Melman.
The British pound and several UK-based stocks and government bonds have arisen after the Labour Party won a landslide victory in the country’s general election.
Samsung estimated that it made a meteoric 15-fold rise in its second quarter operating profit, which it said was better than its expectations.
California Gov. Gavin Newsom signed a bill allowing restaurants to collect service charges despite SB 478, which shields consumers from "junk fees."
The Philippines demanded a payment worth $1 million in damages from China following an altercation in the South China Sea on June 17.
Tesla's short sellers lost $3.5 billion after the firm announced better-than-expected electric car sales this week.
