UK Employers Cut Hiring Amid Economic Uncertainty, Job Market Toughens
Recruitment Agencies Report Lowest Permanent Staff Hiring since 2020 British employers reduced their hiring of new permanent staff through recruitment agencies by the most since mid-2020, signaling challenges for job seekers in a tightening market. The gauge of permanent staff hiring by the Recruitment and Employment Confederation and KPMG fell to its lowest level since
U.S. Inflation Data in Focus; Stock Market Rally Pauses; U.K. GDP and China Inflation Awaited
Key Economic Indicators to Watch in the Coming Week All eyes are on the U.S. as inflation data is set to be released, potentially impacting the Federal Reserve’s interest rate decisions. The stock market rally takes a pause as investors monitor consumer prices and Treasury yields. Meanwhile, the U.K. GDP data will shed light on
Oil Prices Hold Steady Amid Extended Supply Cuts, Focus on Inflation Data
Oil prices remained unchanged on Monday, maintaining their highest levels in nearly four months, thanks to major producers Saudi Arabia and Russia extending supply cuts. The market’s attention now shifts to important inflation readings scheduled for this week. Crude markets saw a sixth consecutive week of gains following the recent Saudi and Russian supply cuts,
Copper Prices Decline Amid Dollar Strength and Awaited Economic Data
Pressure from Steady Dollar and Investor Caution Copper prices started the week on a lower note as a steady dollar exerted pressure. And investors exercised caution while eagerly anticipating key economic data from the U.S. and China. On the London Metal Exchange, the three-month copper slid 0.3% to $8,553 per metric ton after a slight
New COVID Variant “Eris” Surges in the UK and Beyond*
UK Reports Increase in COVID Cases Driven by Variant EG.5.1 In a concerning update, the UK Health Security Agency (UKSHA) has identified a new COVID variant, nicknamed “Eris” or EG.5.1, which has captured headlines due to its rapid spread. According to UKSHA’s report on Thursday, 5.4% of respiratory specimens tested positive for COVID-19, compared to
US Department of Energy Recognizes Copper as Critical Raw Material for Energy Transition
Historic Inclusion Reflects Growing Importance in EVs and Energy Technologies In a significant move, the US Department of Energy (DoE) has officially added copper to its list of critical raw materials, marking a pivotal moment in the energy transition era. The finalized Critical Materials Assessment for 2023 highlights the indispensable role of copper in energy
U.S. Stocks Rise as Jobs Report Shows Slowing Labor Market; Dollar and Treasury Yields Decline
In the latest government jobs report, US stocks saw an upward trend despite indications of a slowing, yet tight labor market. Nonfarm payrolls added 187,000 jobs, falling slightly below expectations of 200,000 jobs, while the unemployment rate decreased to 3.5%. The mixed report supported the notion of a “soft-landing” scenario, easing concerns of an overheating
Indian Government Delays Import Curbs on Laptops and Computers until October 31
The Union commerce ministry has decided to defer the implementation of recently announced import restrictions on laptops, personal computers (PC), tablets, and related items until October 31. In a notification issued on August 4. The Directorate General of Foreign Trade (DGFT) stated that import consignments can be cleared without a license for restricted imports until
Ukraine Strike Russian Navy Ship Near Novorossiysk Oil Port
Drone Attack Damages Russian Navy Vessel Amid Rising Tensions In a significant escalation of hostilities, Ukrainian security services and navy reportedly carried out a drone strike on a Russian Navy ship outside the oil export port of Novorossiysk on the Black Sea. Ukraine claims that the Russian Navy landing ship, Olenegorsky Gornyak, was damaged in
HINDALCO DECREASES ALUMINIUM PRICES BY Rs. 2,250/-
Hindalco Aluminium Decreases it’s Product Prices By INR 2,250/-MT on 04-Aug-2023 Hindalco Aluminium Ingot Prices Decreases By INR 2,250/-MT today which comes at INR 210750-MT. Hindalco Aluminium Alloy Wire Rod Prices Decreases By INR 2,250/-MT today which comes at INR 222750/-MT. Hindalco Aluminium Billet Prices Decreases By INR 2,250/-MT today which comes at INR 224850/-MT