Global Glance: Employers add 156,000 jobs; Matthew hammers Florida

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Here are today’s top business headlines from across the nation and world:

Employers add 156,000 jobs; unemployment rate ticks up to 5 percent

WASHINGTON (AP) — U.S. employers added 156,000 jobs in September, a decent gain that reflects a healthy economy but also a sign that hiring has slowed from its robust pace last year. The unemployment rate ticked up to 5 percent from 4.9 percent, but mostly for a positive reason: More Americans came off the sidelines and looked for work, though not all of them found jobs. Job growth has averaged 178,000 a month so far this year, down from last year’s pace of 229,000. Still, hiring at that level is enough to lower the unemployment rate over time and could keep the Federal Reserve on track to raise the short-term interest rate it controls by December. Read more

Matthew hammers Florida; airlines cancel hundreds of flights

CAPE CANAVERAL, Fla. (AP) — Hurricane Matthew’s howling wind and driving rain pummeled Florida early Friday, starting what’s expected to be a ruinous, dayslong battering of the Southeast coast. Two million people were warned to flee inland as the most powerful storm to threaten the Atlantic coast in more than a decade charged toward Florida. Matthew left more than 280 dead in its wake across the Caribbean. Read more
Airlines canceled hundreds of flights for Thursday and again Friday as the storm pelted the Florida coast with high winds and heavy rain.The Fort Lauderdale airport shut down on Thursday morning, and further north the Orlando airport expected to do the same by nighttime. Before 2 p.m. Eastern time, flight-tracking service reported that 1,500 Thursday flights within the U.S. had been scrapped, with the largest numbers at Fort Lauderdale and Miami. Read more

British pound endures one of its worst days ever

LONDON (AP) — As if it wasn’t shaky enough, the British pound endured one of its biggest falls ever on Friday – with some in the markets blaming trading robots or a fat-fingered typo for sending the currency down a precipitous 6 percent in just a couple of minutes. For one of the world’s major currencies, which is held as a reserve of value by countries around the world, that’s a huge move, matched only by its fall in the wake of dramatic events like the June vote to leave the European Union. Early Friday during Asian hours, the pound tumbled from $1.2600 to as low as $1.1789 in the space of two minutes, according to financial data provider FactSet. It later recovered somewhat to trade at $1.2365, but still that’s a level the currency hasn’t seen since 1985. Read more

Business leaders call Trump bad for economy in new letter

WASHINGTON (AP) — A dozen big-name business leaders, including lifelong Republicans and independents, say they won’t support real estate mogul Donald Trump for president. They say he would be bad for the economy, and they question how successful he’s been as a businessman. “For sustained investment, economic growth and job creation, American business needs as much predictability, reliability and stability in our government as possible,” they write. “Donald Trump is simply too reckless for American business.” Signatories of the latest letter include Wikipedia founder Jimmy Wales, famed chef Jose Andres and Carlos Gutierrez, U.S. secretary of Commerce under President George W. Bush and the former chief executive officer of the Kellogg Company. Read more

Global finance leaders contending with anti-trade backlash

WASHINGTON (AP) — World finance officials, still searching for ways to rejuvenate a sluggish global economy, now face the added problem of dealing with a growing anti-trade backlash that threatens to make the economic situation worse. Officials say the solution is not to abandon support for trade but to make sure the benefits are more widely shared. Finance ministers and central bank governors from the world’s 20 major economies are scheduled to wrap up their talks Friday. Attacks on globalization have risen in prominence with the June vote in Britain to leave the European Union and the U.S. presidential campaign of Donald Trump. Read more

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