comparemela.com

Course, but tomorrows taking on added significance, not just to wall street but to main street and washington as well. Hiring in may showed its weakest gain in more than five years. The anemic report shocked just about everybody, and it cemented the Federal Reserves decision not to raise Interest Rates. Then came another surprise, the brexit, and tomorrows report will determine whether mays weak showing was an anomaly or the start of a new and worrying trend for what has been one of the strongest parts of the economy, so heres whats expected. Consensus is for nonfarm payrolls to rise 165,000. The Unemployment Rate may tick higher to 4. 8 and average Hourly Earnings are expected to gain. 02 . Two new pieces of data point to a strengthening labor market and could bode well for that report tomorrow. Payroll processor adp released its monthly report showing the creation of 172,000 private sector jobs last month. Part of the gain is due to Small Businesses ramping up hiring. In a separate report, the Labor Department said initial claims for Unemployment Benefits fell 16,000 last week, and that drop puts jobless claims close to a 43year low. So le anthony chan for more on what hes expecting from tomorrows jobs report. He is chief economist with chase. Anthony, good to see you again. Welcome. Great to be here. What are you expecting tomorrow . Im looking for a number thats north of 170,000. As you mentioned, the adp report was very encouraging last month, as you are well aware. That report actually exaggerated the the strength, and missed the forecast by almost 150,000. I dont think that will happen two months in a row. That report was strong again this month. I think will show up in the payroll numbers. So what happened last snunt why was it so low, 38,000 . What went wrong . Well, the adp report sometimes has a little bit of a spotty record. Also had the verizon strike that basically ed about 35,000 workers. They are not counted in payrolls when they are on strike. This month they are back to work so youve got to add another 35,000. Thats another reason to expect more strength. But before we panic, we know the Federal Reserve tells us all you need is about 100,000 or so jobs being created every single month just to absorb the natural growth in the labor force, so any number north of 100,000 is actually good news. You know, anthony, broadening it out a little bit, how important is this report to the Federal Reserve in light of the fact that we have some financial turmoil with the brexit. We also have oil prices that really have been hit hard, especially in todays trading session, and Interest Rates are hitting new lows. Its a very important report, and the reason for that is if you look at the fomc minutes, you can see quite a bit of anxiety on the part of the Federal Reserve officials because of that employment report, so they almost absolutely need to see this number recovering and be above 100,000. My suspicion is it will be a lot stronger than that, and they also need to see wages picking up because Consumer Spending is going to be very robust in the second quarter, and they want to know that that sort of robust pace of Consumer Spending, thats twothirds of the economy, that it continues well into the second half given the brexit concerns. Everybody knows its going to be a hit to United Kingdom growth, a hit to eurozone growth and less of a hit to the u. S. , but nonetheless it will be a hit, so we need to see other things working a lot better. So i know this isnt your isnt your forecast, and i hesitate to ask you about something that you dont think is going to happen, but im going to do it nonetheless. What if this number comes in below that 100,000 figure is more in line with the prior month. How worried would you be about the u. S. Economy in that case . Well, in that case i would be very concerned about the economy. We know that if you start to get one number on top of another number that suggests weakness. You have to worry, but, remember. Those initial unemployment claims, when you look at the fourweek moving average during the week that the government takes the survey, were much lower than the private month. Right. Usually consistent with a much stronger number and guess what, even this weeks initial unemployment claims were even lower, and that would suggest that not tomorrows number but even the next months number is actually going to i love this. Man, anthony, you come back any time. That is great. Love enthusiasm on nbr. Love your passion. Anthony chan with chase. Love that, whoa on wall street stocks weighed down by a drop in crude prices finished mixed ahead of the junes job report. Not even a deal in the food sector could increase the buying. More on that acquisition in a moment. The Dow Jones Industrial average was off 22 points to 17,895, the nasdaq was up 17, and the s p 500 fell slightly to 20. 997. Oil prices tumbled 5 to about a twomonth low after Government Data showed a smaller than expected weekly decline in crude oil inventory. So now on to thatted into deal we just mentioned. Parisbased danone has agreed to acquire organic foodmaker whitewave for about 10 billion which sent shares ofwhitewave which owns brands lick silk, horizon and earthbound up 18 and as sara eisen reports the Food Industry an increase in merger activity. Reporter another food compan is in the shopping bag. Whitewave which makes horizon milk and earthbound Getting School board up by french yogurt giant danone y. . Well, it doubles donions u. S. Business and gives it access to fast growing brands and growth, something food and Beverage Companies have been starving for. The problem. Consumer tastes have changed. The economy globally is challenging, and innovation in this area has been hard to come by, so Large Companies are either buying small faster growing rivals like danone and whitewave or they are going at it alone, ramping up their innovation machines, hoping to grow by launching new products that match mainlyial tastes. Thats certainly pepsis strategy. A lot of food and Beverage Companies are struggling for growth and are reshaping their portfolios to hit the expectations. Over the last ten years weve reshaped our portfolio already to be consistent with expectations. Reporte pepsis new products have helped, but others have been voraciously buying. Within the last two years alone General Mills scooped up annies and heinz swallowed kraft, combined two Big Companies to gain scale and cut costs. Snyders bought Diamond Foods known for its almonds for nearly 2 billion and pinnacle bat boulder brands which bought smartmaker in november and monday les tried to buy hershey but they rejected the deal but the deal is still on the table. As far as fast growing and organic companies, many are looking at hanes celestial that owns all sorts of healthy brands and the healthy Food Companies are becoming harder and harder to come by in this growing age of food consolidation. For nightly Business Report, im sara eisen. Shares of humana dropped sharply on reports the department of justice plans to meet to discuss humanas deal with aetna. This is according to reports antitrust regulators who have significant concerns over the proposed acquisition. Officials will reportedly meet tomorrow with both insurers to discuss whether the deal will limit Consumer Choices for Medicare Health plans for the elderly. Aetna announced its intention to buy humana about a year ago. Humana shares fell 9. 5 on the trade today. Aetna also lower by almost 4 . And another Health Insurance deal is being questioned. The connecticut attorney general is raising concerns about the proposed anthem cigna take over. George jepson says if the acquisition wins federal approval it could hurt competition in the industry and lead to higher prices for consumers. Cigna is based in connecticut, and according to the hartford current jepsons office is about two weeks away from wrapping up a review of the tieup. On capitol hill the director of the fbi was at the center of a heated hearing today. James comey staunchly defended his decision to not recommend criminal charges against Hillary Clinton for her use of a private email server while she was secretary of state, but that did not satisfy some lawmakers. Hampton pearson watched it all. Nothing but the truth. Reporter it was a marathon on capitol hill for fbi director james comey. Defending the decision not to bring criminal charges against Hillary Clinton for her use of a private email server while secretary of state. Again and again comey told lawmakers clintons conduct was careless but not negligent, and theres only been one case in the last century where charges were levied. No reasonable prosecutor would bring this case. No reasonable prosecutor would bring the second case in 100 years focused on gross negligence. Oversight Committee Chairman Jason Chaffetz pushed back asking repeatedly if Hillary Clinton had lied during the investigation . Did Hillary Clinton lie . To the fbi . We have no basis to conclude she lied to the fbi. Did she lie to the public . Thats a question im not qualified to answer. I can speak about what she said to the fbi. Reporter and comey strongly challenged the charge Hillary Clinton got special treatment. I just want the American People to know we really did this the right way. You can disagree with us, but can you not fairly say we did it in any kind of political way. We dont carry water for anybody. Reporter and theres this reaction from the Hillary Clinton campaign. A statement says despite the partisan motivations, they are glad the hearing took place and that director comeys explanations shuts the door on any lingering conspiracy theories. For nightly Business Report, im Hampton Pearson on capitol hill. Miss Clintons Campaign may say the door is shut hon any remaining conspiracy theories, but no one thinks the case is closed. John harwood comes to us from washington tonight. So john, they think that the door is shut on this and the case is closed. Is it . Reporter well, its shut legally. Loretta lynch says she will accept the recommendations of the fbi investigators on this. Now, Jason Chafetz did indicate today that he was going to try to send a referral to the fbi for a perjury case against secretary clinton. Well see whether the department picks up that invitation to investigate that. I suspect they may not, but in any case this political issue is going to stay alive all the way through november because of the strength of the criticisms that james comey had about her carelessness in handling classified information. Lets talk a little bit about the republican reaction to the hearing today and in light of this sort of nonindictment indictment, if you will, of miss clinton. It would seem that republicans and mr. Trump should be able to agree that this is a a fruitful path to run against mrs. Clinton. Did they come together, or was this meeting somewhat fractious . Reporter there were two meetings actually, and his meeting with the house, they did come together. Members were very positive coming out of the meeting. Paul ryan gave a statement saying that were united in our resolve to defeat Hillary Clinton, so Hillary Clinton, theres no question is a binding agent, a Unifying Force for donald trump helping him pull republicans behind him. There have been some complaints though from republicans about mr. Trump. Reporter thats right. And we heard some of those in the senate meeting, so first he goes to the house and has a meeting that was very positive. Our own larry kudlow introduced him at that meeting and said that he felt members were coming together, but in the second meeting in the senate, you saw jeff flake, senator from arizona, colleague of john mccain, the former vietnam prisoner of war stand up and say im the one who wasnt captured. Im the senator who wasnt captured. He and donald trump had a sharp exchan he suggested that jeff flake may be in political trouble for distancing himself from him. Flake reminded him hes not up for reelection this year and theres still some tension points and donald trump has work to do to pull the entire party behind him from leadership level to rank and file. Its going to keep being as interesting as it is has been all along. John, thanks so much. John harwood in washington. Still ahead, just how rampant is age discrimination in techfocused Silicon Valley . Federal investigators now want to know. Eight u. S. Airlines have been tentatively awarded flights to havana. They could start as early as this fall. The Airlines Named by the department of transportation are united, continental, delta, american, jetblue, alaska, frontier, southwest and spirit. These tentative plans are expected to be completed this summer. The move is the next step in restoring diplomatic ties with cuba the. A case of the munchies helps lift results at pepsi, and thats where we begin tonights market focus. Strong demand for the companys frito lay snacks as well as new drinks like propelflavored water helped the company top earnings estimates. As a result, pepsi raised its guidance for the year. Shares of pepsico briefly hit an alltime high of 109 per share before pulling back and ending up nearly 1. Are 5 to 107. 49. Wendys says customers Financial Information was compromised at more than 1,000 franchiseowned restaurants during a malware attack. The fast food chain first report it had earlier this year. The compsa hackers were able to steal card holders names, credit card numbers and expiration dates. Shares of wendys were down eight cents to 9. 55. Samestore sales over at costco topped street estimates. Sales in june remain flat at the giant retailer but that was still better than the 1 is. Are 5 drop that analysts were expecting. Shares of costco rose nearly 5 on the news to 163. 70. June was a good month at the retailer l brand. Samestore sales rose more than expected as the operator of victorias secret and Bath Body Works said results were lifted by the timing of the memorial day and july 4th holiday but despite the beat sales were expected to remain flat or decline into the low single growth zone. Shares fell 1. 5 to 67. 43. Jie paychecks to raise its quarterly dividend, softwaremaker will hike its dividend to 46 cents a share up from 42. In addition, the company will launch a 350 million Share Buyback program. Paychecks down marginally on the trade today to 60. 59. The antivirus technologymaker evast software will buy rival avg technologies for more than a billion. Avast says the merger will allow it to make more personal Security Products and increase its geographical presence. Shares of avg surged more than 30 to 24. 58. And the fda has put a clinical hold on a Juno Therapeutics drug trial, this after some patients died. The news is a big blow to Juno Therapeutics and its use of genetically engineered white blood cells to treat adult leukemia patients. Shares fell more than 25 initially in afterhours trading as you see on that graphic. San francisco is ground zero for the socalled gig economy which is made up of independent workers who can work where they want and when they want, but the big shift thats happening in the nations labor market with the creation of ondemand workers isnt happening in the city that started it all. Josh lipton has our story. Reporter here in San Francisco startups are up ending and redefining entire industries from travel to food delivery and Home Services but Online Platforms are having a big impact on one area, the workforce of San Francisco. Thats the conclusion of a new report from ted egan, the citys chief economist. As of 2014, he found that about 30 of workers in San Francisco were either selfemployed or working less than 35 hours per week. Thats roughly the same number as in 2000. In other words, startups that rely on contractors to deliver food or clean homes havent significantly changed the overall job landscape. Egan says thats because in part many of these startups are still relatively young, but its also because the San Francisco economy is strong. Our Unemployment Rate is less than 3 and jobs are very plentiful here for people who want them so you dont have a situation where people are forced into selfemployment as much as you may have in other places where the economies are not as strong. More recent data corroborate egans conclusions, that Jpmorgan Chase Institute Last year found that just 5 of workers in the San Francisco area derive income from upline platforms, a small percentage, though larger than other cities. Of course, there are some sectors where there has been an uptick in selfemployment. Transportation, for example, has been impacted bid ridehailing apps like uber and lyft and looking ahead egan says he would expect the gig economy to have more of an impact on the job market here as these startups continue attracting new users and the contractors who serve them. For nightly Business Report, im josh lipton in San Francisco. Silicon valleys tech giant google sunday fire for its employment practices. According to a lawsuit filed in a california federal court, the equal Employment Opportunity commission, the eeoc is investigating multiple complaints filed against the company for age discrimination in hiring. But does this go beyond google . Joanna leahy is a professor of economics at texas a m university and bush school of public service. Good to have you with us. From what you know, does Silicon Valley broadly speaking have an ageism problem, in other words, that they dont hire enough folks who are above say 40 or promote or may be a little too quick to fire them . Well, its hard to say for sure if Silicon Valley specifically has an age problem. Its generally thought that it does, the fact that the workforce is so young might indicate that. What about this eeoc investigation . It seems to me that they wouldnt be investigating unless they thought there really was something going on at google that perhaps needs to be rectified. Absolutely. The eeoc does not prosecute a lot of age discrimination claims unless they, you know, think that there really is strong evidence offer compelling evidence for discrimination problem wlmpt that goes beyond google its hard to say. As i understand this these allegations, it has to do with hiring practices as opposed to promotion practices or firg practices. I would imagine that in a case like this it is harder to make it or to prove it in cases of hiring than it might be in cases of promotion or firing where you would have an internal record of the persons performance. Absolutely. Thats absolutely correct. Its much easier for firms to discriminate at the hiring level precisely as you say because theres no record and so it enlists people at the hiring stage that Say Something, a smoking gun like oh, we dont hire old people. Youre too old. Yeah, unless you Say Something like that, people dont know are we did i not get the job because i was not the most qualified person or, you know, is there Something Else going on like age discrimination . But there were multiple claims of this so what does that say or allege about the culture at google . Well, you know, its its hard to say. I mean, on the one hand it could be that google does have a problem with age discrimination. That would be the most obvious answer, but it could also be just that, you know, older people are applying to googled and they are not getting hired for whatever reason. This will be really interesting to see how the eeoc case plays out. Obviously either they must think that they have very strong evidence, compelling evidence, or or they want to send a message to Silicon Valley. Exactly, yeah. That age discrimination is not okay but we wont really know until the lawsuit has been finisheded. This would be the kind of thing that would get other companies attention, i would assume. Absolutely. How the aggies going to be this fall, joanna . Great as always. All right. Good. Joanna leahy with texas a m universitys bush school of government and public service. Coming up, pets bring unconditional love to their owners and big Business Ideas to entreprene heres what to watch tomorrow, folks. As we reported, the employment report for june will be released. Expectations are for an increase of 165,000 nonfarm payroll jobs. Well find out whether consumer borrowing increased or slowed down in may when the fed releases its Monthly Consumer Credit Report and the Energy Markets will Pay Attention to the change in the number of active oil rigs. Thats what to watch friday. Mortgage rates have fallen to near record lows, according to the latest freddie mac data, the average 30year fixed rate dropped to 3. 41 this week. A shift in Interest Rate expectations, a vote in the uk to leave the eu and a strengthening dollar have all combined to hold treasury yields low. The yield on the tenyear treasury is an indicator of whether Mortgage Rates will rise or fall. When yields drop, so do loan home rates. Its no secret that we spend a lot of money on our pets, right, miss sue. Absolutely. My 5,000 cats surgery. All that spending has given rise to a very lucrative industry and has created opportunities for aspiring entrepreneurs. Jane wells takes a look at some of the hottest trends for our furry friends. Let me smell your breath. Reporter we treat our pets like they are humans. In fact we think they are humans. Hes going to be your brother. Reporter actually, we love them more than humans. As universals the secret life of pets hits theaters, the 60 billionplus pet Products Industry is lapping up profits and spawning a new wave of entrepreneurs. We make harnesses, dresses, life jackets, backpacks. Reporter turning from Computer Programmer to tech titan creating goggles for dogs called dogles used for Sun Protection to style. Its now a 3 million a year business and this veterinarian has created a line of medical marijuana products for pets sold in california dispensaries, even though vets cannot prescribe pot for pets yet. Thats a good boy. The skys the limit really in this industry because what were doing is were using medical marijuana for very common ailments, pain, arthritis, anxiety and these are common ailments that we see in the veterinary clinics every day. Reporter but no part of the pet industry may be growing faster than insurance. Its going to grow to im thinking 5 billion, 6 billion industry easily. Reporter Figo Pet Insurance provides coverage for not only a 500 a year but it also has an app which lets owners access their pets record in the cloud or find petfriendly businesses. Some reports say one out of every three or four tune 500 companies is offering pet insurance as a benefit or contributing or passing out a group dissghunt with 160 million dogs and cats as pets in america, weve come a long way since the days when lassie had to sleep outside on the farm, and oh, by the way, lassie was the First American pet to get insurance. For nightly Business Report, jane welts, thousand oakes, california. Those are your bassets . Princess leah and eyore. All righty. Now you know everything you need to know. Dogles, that does it for nightly Business Report tonight. Im sue herera thanks for joining us. Thanks from me as well. Im tyler mathisen. Ill be wearing my dogles tomorrow. See ya. I dare ya. We never did too much talkin anyway next on great performances. Dont think twice, its all right this has really been a trip so far. Itll be wonderful tonight. For nearly 60 years, joan baez has been a music legend. So when it was time for her 75th birthday bash, some of her allstar friends joined the celebration. David crosby, emmylou harris, jackson browne, mavis staples, judy collins, paul simon, and many more. After changes, we are more or less the same [ cheers and applause ] sing lielalie join the party for one of folk musics icons next. Forever young. With the joan baez 75th birthday celebration. Forever young

© 2024 Vimarsana

comparemela.com © 2020. All Rights Reserved.