Global Glance: US employers add 227,000 jobs in January; Trump takes first step to scale back financial regulations

Powered by The Associated Press

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

US employers added healthy 227,000 jobs; rate up to 4.8 percent

WASHINGTON (AP) — U.S. employers ramped up hiring last month and more Americans began looking for work, a sign that President Donald Trump has inherited a robust job market. The Labor Department says employers added 227,000 jobs in January, the most since September and higher than last year’s average monthly gain of 187,000. The unemployment rate ticked up to a low 4.8 percent last month from 4.7 percent in December. Yet the rate rose for a mostly good reason: More Americans started looking for work. The percentage of adults working or looking for jobs increased to its highest level since September. Read more

Trump takes first step to scale back financial regulations

WASHINGTON (AP) — President Donald Trump is taking his first steps aimed at scaling back financial services regulations, and the Republican-run Congress cast a vote early Friday signaling that it’s eager to help. The president will sign an executive order Friday that will direct the Treasury secretary to review the 2010 Dodd-Frank financial oversight law, which reshaped financial regulation after the 2008-09 financial crisis. But first, the Senate used an unusual pre-dawn vote to approve legislation, 52-47, killing a regulation that has required oil and gas companies to disclose payments to the U.S. or foreign governments for commercial development. The House approved the measure this week, and Trump is expected to sign it. Read more

Snap, maker of the social app Snapchat, files for IPO

NEW YORK (AP) — The company behind Snapchat, a teen-oriented social network famous for its quickly disappearing messages, has filed for what could be one of the largest tech IPOs in years. Snap Inc. said Thursday that it’s seeking up to $3 billion in an initial public offering, a figure that could shift based on investor demand. That demand will help determine the price per share sought by Snap in the upcoming weeks. Snapchat has millions of users, and Snap has built a thriving ad business on it. But the company has also made a lot of money – nearly $900 million – disappear in the past two years. Read more

Eurozone economy starts 2017 solidly, especially on jobs

LONDON (AP) — The economy of the 19 countries that use the euro got off to a strong start in 2017 even as inflation pressures continue to mount in the wake of the recent rise in oil prices, a closely watched survey showed Friday. Financial information company IHS Markit said its gauge of business activity across the manufacturing and services sectors held steady at a five-and-a-half-year high of 54.4 points in January, still way above the 50 threshold between expansion and contraction. Encouragingly, the index’s gauge of job creation spiked to a near nine-year high. Read more

Congress kills rule forcing payment disclosures by companies

WASHINGTON (AP) — Congress has passed legislation ending an Obama-era regulation that’s required oil and gas companies to disclose payments to the U.S. or foreign governments for commercial development. The Senate gave final congressional approval to measure Friday 52-47 in an unusual vote that began before dawn. President Donald Trump is expected to sign the bill. It represents an initial Republican swipe at the 2010 Dodd-Frank law curbing Wall Street that President Barack Obama and Democrats enacted following the 2008 financial crisis. Read more

Uber CEO backs out of joining Trump’s business council

WASHINGTON (AP) — Uber CEO Travis Kalanick has quit President Donald Trump’s council of business leaders, according to an internal memo obtained by The Associated Press. Kalanick wrote to his employees that he’d spoken with Trump on Thursday to “let him know that I would not be able to participate on his economic council. Joining the group was not meant to be an endorsement of the president or his agenda but unfortunately it has been misinterpreted to be exactly that.” His departure came on the eve of the first meeting of the group at the White House, planned for Friday. Read more

Amazon increasingly wants to be its own deliveryman

NEW YORK (AP) — Amazon isn’t content just being the “everything store.” Increasingly, it looks like it wants to be its own deliveryman, too. Its Monday announcement of a new air cargo hub in Kentucky is merely Amazon’s latest foray into building out its own shipping and logistics unit. If successful, the move could ultimately mean lower costs for Amazon – and possibly faster delivery and low prices for consumers. But it could also pit Amazon against package deliverers like FedEx and UPS. Amazon has long plowed its profits back into its business investments. In order to speed up its delivery, it has invested in opening new distribution centers and leasing fleets of trucks. Read more

Want the state’s top business and entrepreneurship news in your inbox? Sign up here for our newsletters.

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students