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U.S. Labor Productivity Jumps 2.5% In Q2, More Than Previously Estimated
A report released by the Labor Department on Thursday showed labor productivity in U.S. jumped by more than previously estimated in the second quarter, while unit labor costs rose by less than previously estimated. The Labor Department said labor productivity shot up by 2.5 percent in the second quarter compared to the previously reported 2.3 percent surge.
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U.S. Weekly Jobless Claims Edge Down Slightly More Than Expected
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 31st. The report said initial jobless claims dipped to 227,000, a decrease of 5,000 from the previous week's revised level of 232,000.
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OpenAI Co-founder's New AI Startup SSI Raises $1 Bln
Safe Superintelligence Inc. or SSI, the new safety-focused AI startup founded by OpenAI co-founder Ilya Sutskever, has raised around $1 billion in the latest round. With the latest investment, the company is reportedly valued at around $5 billion. As per an update on the SSI site, investors for the new firm, which was launched in June, include NFDG, a16z, Sequoia, DST Global, and SV Angel.
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U.S. Private Sector Job Growth In August Slowest Since January 2021
A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by much less than expected in the month of August. ADP said private sector employment rose by 99,000 jobs in August after climbing by a downwardly revised 111,000 jobs in July. Economists had expected private sector employment to jump by 145,000 jobs.
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U.S. Labor Productivity Jumps More Than Previously Estimated In Q2
A report released by the Labor Department on Thursday showed labor productivity in U.S. jumped by more than previously estimated in the second quarter, while unit labor costs rose by less than previously estimated.
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U.S. Weekly Jobless Claims Edge Down To 227,000
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 31st.
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U.S. Private Sector Employment Climbs Much Less Than Expected In August
A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by much less than expected in the month of August.
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Uber In Deal To Offer Turo Vehicles Through Uber Rent
Rideshare and delivery network company Uber Technologies, Inc. has teamed with Turo, Inc., the world's largest peer-to-peer car sharing marketplace, for a multi-year partnership to offer Turo vehicles through Uber Rent platform beginning in early 2025. Millions of Uber customers throughout the U.S., Canada, France, the United Kingdom, and Australia will be able to rent from Turo vehicles...
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Eurozone Retail Sales Rise Marginally In July
Eurozone retail sales grew only marginally in July, suggesting subdued support from household consumption to economic growth. Retail sales posted a monthly growth of 0.1 percent in July, reversing a 0.4 percent fall in June, data published by Eurostat showed on Thursday. The decline reflects a 1.0 percent drop in automotive fuel sales. Food, drinks and tobacco sales rebounded 0.4 percent.
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Euro Rises Against Majors
The euro strengthened against other major currencies in the European session on Thursday.
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Sensex, Nifty End Slightly Lower After Soft US Data
Indian shares ended slightly lower on Thursday as weak U.S. labor market data reignited recession fears and oil prices rebounded on data showing a significant inventory drop.
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UK Construction Sector Maintains Robust Growth
The UK construction sector posted another strong growth in August as lower borrowing cost and gradual improvement in market conditions boosted residential work, survey results from S&P Global showed on Thursday. The construction Purchasing Managers' Index fell to 53.6 in August from July's 26-month high of 55.3. The reading was expected to drop moderately to 54.6.
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European Shares Mixed In Lackluster Trade
European stocks traded mixed on Thursday, after having hit a two-week low on Wednesday on growth worries.
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