In the week ending 31 January, new claims for U.S. unemployment benefits grew by 22,000 to 231,000, the U.S. labor department reported.
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HIRING REMAINED WEAK IN JANUARY, ADP FIGURES CONFIRM
The U.S. economy added an anemic 22,000 private sector jobs last month, net after quits and layoffs, according to payroll service ADP’s monthly report. ADP does not track government hiring.
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JANUARY’S LAYOFFS THE MOST IN 17 YEARS
The 108,435 workers to be laid off in January was the most in any January since 2009 at the depth of the Great Recession, outplacement firm Challenger, Gray & Christmas reported.
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U.S. CONSUMERS’ OUTLOOK SHINES A BIT BRIGHTER
Despite lingering concerns regarding inflation, tariffs, and the job market, U.S. consumer sentiment in the aggregate rose in February to its highest since last August.
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BITCOIN RATTLED AMID TECH-STOCK SELLOFF
Bitcoin, the world’s most popular cryptocurrency, came out limping after last week’s tech selloff, falling below $67,000, as industry insiders acknowledge that “sentiment has deteriorated sharply.”
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LAST WEEK: A STUMBLE, THEN A BOUNCE TO A NEW RECORD
Stock prices sank on Tuesday, Wednesday, and Thursday last week as investors showed new concerns about whether massive investments in artificial intelligence (AI) will ever return a profit.
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TRUMP’S POLITICAL GANG RAISES $429M BEFORE MIDTERMS
President Donald Trump may be sinking in the polls, but he continues to benefit from having a massive funding stockpile that could help influence this year’s Midterm Elections.
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WHILE DADDIES PLAY GOVERNMENT, SONS PLAY CRYPTO BUSINESS TYCOONS
President Donald Trump and his family have made a new fortune in the crypto game and he is bringing Steve Witkoff’s adult son along for the ride, according to a report last week in The Wall Street Journal that went into great detail on how World Liberty Financial has been the key money-maker, and is generating “cash far faster than the president’s decades-old real-estate business.”
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CHINA HAWK WINS SNAP ELECTION IN JAPAN TO THE DELIGHT OF THE TRUMP ADMINISTRATION
Sanae Takaichi, Japan’s prime minister, won a snap election on Sunday, drawing praise from the Trump administration because of her hawkish approach to China.
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DEATH OF JOURNALISM: BILLIONAIRE BEZOS GUTS WASHINGTON POST’S NEWSROOM
The Washington Post, one of the U.S.’s top papers, fired roughly 300 of its reporting staff to try to get a grip on its expenses as the paper experienced a drop in advertising revenue, which prompted criticism of Jeff Bezos, the billionaire owner of the newspaper, for ignoring calls to save the jobs.