By Lucia Mutikani WASHINGTON (Reuters) – U.S. hiring likely picked up enough in February to keep the Federal Reserve on track in reducing its monetary stimulus. But the size of the gain is nevertheless expected to be modest as the economy struggles to break free of the grip of unusually severe winter weather. Nonfarm payrolls probably increased by 149,000 last month, with the jobless rate holding at a five-year low of 6.6 percent, according to a Reuters survey of economists. Nonfarm payrolls averaged about 205,000 new jobs per month in the first 11 months of 2013, but that figure dropped to just 94,000 for December and January as the unseasonably cold and snowy winter disrupted economic activity.
Archive for the ‘Business News’ Category
Chaori Solar becomes the first Chinese firm to default on its onshore corporate bonds, say media reports quoting the firm, after failing to make an interest payment.
BBC News – Business
By Lisa Twaronite and Shinichi Saoshiro TOKYO (Reuters) – Asian stocks rose on Friday, buoyed by Wall Street's gains the previous day, but investors remained cautious ahead of the U.S. nonfarm payrolls report later in the session. The euro remained near overnight highs following the European Central Bank's decision not to ease policy, while the safe-haven yen continued to sag after suffering sharp losses as risk appetite returned. U.S. nonfarm payrolls are forecast to have increased by around 149,000 in February, according to a Reuters survey of economists, up from the weather-depressed gains of 113,000 in January and 75,000 in December. Market watchers said expectations may have been lowered by the soft ADP private-sector jobs report and ISM services sector survey released earlier this week.
Network Rail offers a “full and unreserved apology” to families bereaved by level crossing accidents, as MPs criticise its handling of deaths in the past.
BBC News – Business
Private equity firm Cerberus Capital Management is offering $ 9.4 billion for Safeway, the nation’s second-largest grocery, and plans to combine it with Albertson’s, acquired a year ago.
For years, Reddit, tech blogs and mainstream media outlets have speculated about the mysterious Satoshi Nakamoto. Newsweek says it finally has the answer, but many people are criticizing the story.
The Buddhist spiritual leader delivered the Senate’s opening prayer on Thursday. If the politicians heed his words, “happiness will follow,” he says.