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Business News
Guardian
6d
65
Image Credit: Guardian
Number of UK job hunters rises at fastest rate since Covid pandemic
- The number of job hunters in the UK rose at the fastest rate since the Covid pandemic peak, possibly due to concerns over tax rises and economic uncertainties.
- Recruitment and Employment Confederation (REC) and KPMG reported a sharp increase in new candidates seeking work along with a drop in permanent placements, weaker pay growth, and reports of redundancies.
- Concerns over tax rises have impacted hiring, with ministers warning of financial consequences and company bosses stressing the pressure on businesses, especially in the face of global uncertainties.
- Job demand was reduced in the retail sector while construction and engineering saw increased vacancies. Pay growth was affected by more available candidates, tighter budgets, and lower hiring demand.
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Guardian
6d
375
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Sales of UK country houses rise as buyers tempted out by lower prices
- Sales of expensive UK country houses rose by 7% in June compared to last year, indicating a potential recovery in demand as buyers are attracted by lower prices after a prolonged slump.
- The increase in properties for sale is being driven by second-home owners, following council tax changes aimed at leveling the playing field for local inhabitants in popular holiday areas. The number of country houses coming to the market was 9% higher in the second quarter of the year compared to last year.
- Average country house prices fell by 3.5% in the three months to June, faster than the 1.6% decline in the year to March. The increased supply of rural homes is also attributed to factors such as a stock overhang from the stamp duty cliff edge in March and buyers resuming plans paused due to political uncertainties.
- Knight Frank described the current market as the 'most favourable for buyers in the country for seven years,' with only 5.9 potential buyers for every new country house on the market, compared to nearly 19 during the peak pandemic exodus from cities.
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Moneyweb
6d
373
26 years of outperformance, one core idea …
- Investment firm Peregrine Capital's success is based on collective intelligence and institutional structure.
- Their team's flat hierarchy encourages debate and stress-testing of investment ideas.
- Continuous learning, resilient culture, and high performance drive their enduring success.
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20 Likes
Moneyweb
6d
673
Dimon is worried, but is Europe a valid alternative?
- JPMorgan's upcoming results are anticipated for insights on the US economy's state.
- Jamie Dimon's warnings about US interest rates and global market risks are notable.
- Europe is presented as a potential alternative amid concerns over US market sustainability.
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Moneyweb
6d
359
Search for Texas flood victims suspended
- Emergency crews in central Texas have suspended their search for victims of recent catastrophic flooding due to another night of heavy rain and new flash flood warnings.
- The Kerr County Sheriff’s Office ordered volunteers, equipment, and vehicles to vacate the area around the Guadalupe River as water levels are expected to rise, leading to dangerous and life-threatening conditions.
- Governor Greg Abbott stated that dozens of people in the Lampasas area had been rescued, and operations are being expanded in all affected counties while monitoring rising waters in Kerrville.
- The region north and west of Austin was hit by devastating floods on July 4, with flood watches extending from southern Texas to eastern Oklahoma and Arkansas, and flash flood warnings in the area northwest of Austin through Sunday morning.
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TechBullion
6d
293
Image Credit: TechBullion
The Labubu Phenomenon: How a Mischievous Elf Conquered Pop Culture
- Labubu, created by Belgian-Hong Kong artist Kasing Lung, has become a highly sought-after collectible worldwide, blending Eastern and Western design influences.
- Labubu's character design draws inspiration from European folklore and features a unique appearance that sets it apart from traditional cute figures.
- Labubu's success can be attributed to its moral ambiguity and engagement with Pop Mart's blind box model, creating a sense of scarcity and excitement for collectors.
- Labubu's global popularity has been boosted by celebrity endorsements, like Lisa from BLACKPINK, bridging the gap between K-pop and designer toy communities.
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Moneyweb
6d
33
Muhammadu Buhari, Nigeria’s former president passes away
- Muhammadu Buhari, Nigeria’s former president and the first opposition candidate to win a presidential election, has passed away at the age of 82.
- Buhari died in a clinic in London on Sunday, as confirmed by his spokesman, with no further details provided.
- During his presidency, Buhari faced challenges in addressing poverty, unemployment, insecurity, and the over-reliance on oil in Nigeria's economy.
- Having served two elected four-year terms, Buhari retired to his hometown of Daura after stepping down in May 2023 and kept a low public profile.
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Bloomberg Quint
6d
288
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Nvidia CEO Huang Says China’s Military Unlikely To Use US AI Chips
- Nvidia CEO Jensen Huang stated that the Chinese military is unlikely to use US technology due to associated risks.
- US government's concern about Chinese military using US technology led to increasing restrictions on technology exports to China.
- Nvidia and its peers believe US companies should be allowed to ship products to China for AI development.
- Huang argues that restrictions on exports to China will spur domestic capabilities and eventually rival the US technology industry.
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Bloomberg Quint
6d
293
Image Credit: Bloomberg Quint
'Big Fireball': Small Plane Crashes After Takeoff At London Southend Airport
- A small plane, believed to be Beechcraft King Air B200, crashed shortly after takeoff at London Southend Airport, headed for Lelystad in the Netherlands.
- Eyewitnesses reported seeing a 'big fireball' as the 12-meter (39 feet) long aircraft crashed head first into the ground moments after takeoff.
- Emergency workers have initiated rescue operations, and there were no immediate updates on casualties at the time of initial reports.
- The crash led to the cancellation of four scheduled flights departing from the airport, with visuals shared on social media showing a significant amount of smoke at the crash site.
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Bloomberg Quint
6d
66
Image Credit: Bloomberg Quint
EU To Extend Suspension Of Countermeasures To Allow US Talks
- The European Union plans to extend the suspension of trade countermeasures against the US until Aug. 1 to facilitate further talks after threats of new tariffs by Donald Trump.
- The current list of countermeasures would affect about €21 billion ($24.5 billion) of US goods, with the EU having another list prepared for about €72 billion.
- The EU's anti-coercion tool won't be used for now, as negotiations continue, with cars and agriculture tariffs remaining key points of contention between the EU and US.
- German Chancellor Friedrich Merz emphasized the impact of potential 30% tariffs and the importance of unity in the EU while Trump warned of increased tariffs in his recent letter to the EU.
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Blackenterprise
6d
351
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He Heard Y’all: Red Lobster CEO Responds To Seafood Boil Uproar With Fast Changes
- Red Lobster, under the leadership of its new young Black CEO Damola Adamolekun, is making swift changes to regain its position in the restaurant industry.
- The introduction of seafood boils in a bag by Red Lobster received mixed reviews from customers, with some praising the new offerings while others critiqued portion sizes and flavors.
- In response to customer feedback, Adamolekun acknowledged the desires for more spicy options and quickly made adjustments, including adding sausage to the boils.
- Customers appreciated Adamolekun's rapid response to feedback, with many expressing their approval of his hands-on approach and willingness to engage directly with unsatisfied customers.
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Bloomberg Quint
6d
289
Image Credit: Bloomberg Quint
German Chancellor Says 30% US Tariffs Would Hit Industry To ‘Core’
- German Chancellor Friedrich Merz expresses concerns over potential 30% US tariffs, stating they would severely impact Germany's export industry.
- The European Union is extending the suspension of trade countermeasures against the US until Aug. 1 to facilitate further negotiations amid Trump's tariff threat.
- Merz emphasizes the need for EU unity and effective communication with the US to prevent the imposition of significant tariffs on European exports.
- German government may need to adjust economic policies if tariffs are imposed, with Merz stressing the importance of finding a solution before Aug. 1.
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Bloomberg Quint
6d
313
Image Credit: Bloomberg Quint
Wheels India Infuses 50,000 Euros In Subsidiary 'WIL Europe GmbH'
- Wheels India has infused 50,000 euros into its subsidiary 'WIL Europe GmbH'.
- WIL Europe GmbH is a newly formed entity aimed at expanding and conducting business activities in Europe.
- The capital infusion was through a cash consideration of 50,000 equity shares with a face value of Euro 1 each.
- Wheels India had earmarked Rs 250 crore for the current financial year, primarily for manufacturing windmill components.
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Bloomberg Quint
6d
1.1k
Image Credit: Bloomberg Quint
Oracle CEO Tops Jeff Bezos, Dell With $1.8 Billion Stock Sale Last Quarter
- Oracle CEO Safra Catz tops Jeff Bezos with $1.8 billion stock sale last quarter.
- Catz exceeded $2.5 billion in total insider sales this year, boosting her net worth.
- Tech sector interest and stock market rebound influenced high insider selling activities.
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Bloomberg Quint
6d
68
Image Credit: Bloomberg Quint
Goa Police Nabs Fake CBI Officer In 'Digital Arrest' Scam
- A 19-year-old man was arrested in Punjab for pretending to be a CBI officer and extorting Rs 18 lakh by threatening digital arrest in Goa.
- The accused, Surinder Kumar, lured the victim through WhatsApp, claiming the victim was tied to a money laundering case, prompting the transfer of the money.
- The police caught Kumar in Ludhiana and brought him to Goa, where he was remanded to police custody for four days.
- Goa Police filed a case under relevant sections of the Bharatiya Nyay Sanhita and the Information Technology Act, tracing Kumar through technical and financial analysis.
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