Tag: Economy
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The economy is starting to cool — but the job market is 'like an inferno'
US employers announced just 20,485 layoffs in August, the lowest year-to-date total since 1993, according to data released Thursday from outplacement firm Challenger, Gray & Christmas. A separate report from the Labor Department revealed that initial jobless claims for the week ended August 27 fell to 232,000, a drop of 5,000 from the previous week’s…
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UK energy company BP's profits double to €26 billion in 2022
British energy supermajor BP has reported record annual earnings, fueling demands that the UK boost taxes on companies benefiting from the surge in energy prices. The London-based giant’s profits have jumped to nearly € 26bn in 2022 from just under € 12bn a year earlier. That beat the previous record profits BP earned in 2008,…