james Archive

Unemployment drops by 52,000 but pay squeeze continues

UK unemployment fell by 52,000 in the three months to August to 1.4 million, leaving the jobless rate unchanged at 4.3% from the previous quarter. However, pay still failed to keep pace with inflation, with the real value of earnings down 0.3% over the past year. Total earnings, excluding bonuses, rose by 2.1% from June

Dow Jones hits new intra-day high

The Dow Jones Industrial Average hit a new intra-day high in early Wednesday trading, climbing 111.90 points to 23,109.34. It came a day after the index broke through the 23,000 level for the first time, although it fell back to close below the milestone. Also on Wednesday, the wider S&P 500 index edged up 2.86 points to

‘Future city’ to be built in Canada by Alphabet company

Sidewalk Labs, owned by Google’s parent company, Alphabet, is to build a digital city in Toronto. It aims to turn a waterfront area into a working laboratory for a range of “smart” technology. It is likely to feature fast wi-fi availability, millions of sensors, sustainable energy and autonomous cars. Technology companies are touting their hardware

Rio Tinto charged with fraud by US authorities

British-Australian mining giant Rio Tinto and two of its former executives have been charged with fraud in the US, accused of hiding losses by inflating the value of African coal assets. It bought the Mozambique assets in 2011 for $3.7bn (£2.8bn) and sold them a few years later for $50m. The mining company has said

Men Are Finally Discovering That Diversity Is Good For Business

Women and people of color still hold few leadership positions at large American companies. Among the 500 highest-grossing firms, 6.4%have female CEOs. That’s up from 4.2% last year, but it means there are still only 32 female CEOs in the set. And not a single one of those women is African-American. Across S&P 500 companies, 21% of board members were