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Survey: U.S. Companies Add 215K Jobs, Most in Year

Time Magazine Latest Money News - Wed, 12/04/2013 - 8:45am
(WASHINGTON) — A private survey shows U.S. businesses last month added the most jobs in a year, powered by big gains in manufacturing and construction. Payroll processor ADP said Wednesday that companies and small businesses added 215,000 jobs in November. And ADP said private employers added 184,000 jobs in October, much stronger than its initial estimate of 130,000. The ADP numbers cover only private businesses and often diverge from the government’s more comprehensive report. Last month, the Labor Department said private businesses added 212,000 jobs in October. The Labor Department will report on November job growth Friday. Still, the figure suggests that hiring remained healthy in November after picking up in the prior three months. Manufacturing and construction firms each added 18,000 jobs. That was the biggest gain for manufacturers since early this year. Mark Zandi, chief economist at Moody’s Analytics, said the figures show that employers shook off the partial government shutdown in October and kept hiring, despite a drop in consumer confidence. Moody’s helps compile the ADP data. “That’s very encouraging as we make our way into next year,” Zandi said. Other economists also said the hiring boost was a good sign, but noted that the ADP figures are not always a reliable guide to the government’s figure. “Take this with a grain of salt, but if the direction is right, it is good news,” said Jennifer Lee, an economist at BMO Capital Markets. Employers of all sizes added jobs, the report found. And services firms added 176,000 jobs, the most in a year. The government says public and private employers have added an average of 202,000 jobs a month from August through October. That was up from an average of 146,000 from May through June. At the same time, growth picked up. The economy expanded at a 2.8 percent annual rate in the July-September quarter. But analysts expect growth to slow in the current quarter to about a 2 percent rate.
Categories: Financial News

U.S. Trade Gap Narrows in October

Wall Street Journal Online - Wed, 12/04/2013 - 8:42am
American exports rose for the first time since early summer, a sign stabilizing overseas economies could support U.S. growth.
Categories: Financial News

U.S. Stock Futures Extend Losses

Wall Street Journal Online - Wed, 12/04/2013 - 8:31am
Stock futures edged lower after better-than-expected jobs data supported growing expectations that the Federal Reserve could start to pare stimulus efforts this month.
Categories: Financial News

Deadly rocket attack in north Syria

BBC News World - Wed, 12/04/2013 - 8:11am
At least 18 people have been killed in a rocket attack on government-held areas in the Syrian city of Aleppo, activists say.
Categories: World News

'Christian militia' in CAR killing

BBC News World - Wed, 12/04/2013 - 8:05am
A Christian militia is suspected to have killed 12 people, including children, and wounded 30 others in an attack on Monday in the Central African Republic (CAR), officials say.
Categories: World News

Launch of world's biggest 'ship'

BBC News World - Wed, 12/04/2013 - 8:03am
The world's biggest vessel takes to the water for the first time in South Korea.
Categories: World News

Hunt for tiger after India deaths

BBC News World - Wed, 12/04/2013 - 7:47am
Forest officials in the southern Indian state of Karnataka are searching for a tiger which they say has killed three villagers in the past week.
Categories: World News

Brown-Forman Net Up 19% on Jack Daniel's Growth

Wall Street Journal Online - Wed, 12/04/2013 - 7:39am
Brown-Forman's fiscal second-quarter income jumped a bigger-than-expected 19% as the wine and liquor maker's results benefited from continued growth of its Jack Daniel's business.
Categories: Financial News

Man killed in Argentine looting

BBC News World - Wed, 12/04/2013 - 7:27am
A 20-year-old man is killed in the central Argentine city of Cordoba as groups of people take advantage of a police strike to loot shops.
Categories: World News

Trainer Butler banned for five years

BBC News World - Wed, 12/04/2013 - 7:24am
Trainer Gerard Butler is disqualified for five years by the British Horseracing Authority after doping inquiry.
Categories: World News

Standard Chartered Warns on Profit

Wall Street Journal Online - Wed, 12/04/2013 - 7:13am
Standard Chartered warned its operating profit would fall this year for the first time in a decade because of continuing problems in its South Korea business and a weak fourth quarter.
Categories: Financial News

When You Wear Your Emotions at Work

Time Magazine Latest Money News - Wed, 12/04/2013 - 7:08am
Well before he had written a word about management, Peter Drucker learned just how high people’s passions can run at the office. It was the early 1930s, and the then-24-year-old Drucker had been hired as an analyst at a London merchant back called Freedberg & Co. One of his first assignments was to help settle a dispute with a firm in Amsterdam that supposedly owed Freedberg a bunch of money. Drucker scoured the books and determined that, in fact, the Dutch weren’t on the hook for nearly as much as everybody at his bank thought. The partner who’d been pressing the matter for months was “extremely angry” with the finding, Drucker recalled. He blew up. “I don’t need enemies if I have you for a friend,” he told Drucker. I’ve been thinking about the role that emotions play in the workplace since reading a Wall Street Journal piece this week about a campaign being waged by the mayor of New Bedford, Mass., to save the one-time headquarters of Berkshire Hathaway from being razed to make room for a parking lot. The rundown building was the home of a textile manufacturer that was acquired in 1965 by Warren Buffett. He used the cash flow from the mill to help fund the nascent growth of his conglomerate, which kept the Berkshire Hathaway name. Interestingly, Buffett himself has no sentimental attachment to the property. “I don’t know what you’d do with that place,” the billionaire said. But, as the Journal article noted, this doesn’t mean that Buffett’s own emotions were never fully on display there. Indeed, Buffett originally got tangled up with Berkshire Hathaway when he tried to sell some stock back to the textile maker. He thought he had a deal, only to find that Berkshire Hathaway’s president had dropped the offer price at the last minute. “The alleged lowball offer angered . . . Buffett, who then amassed a majority stake in Berkshire Hathaway and gained a seat on its board with the intent of replacing” the company’s top executives, the
Categories: Financial News

'No joy in killing' - Rigby accused

BBC News World - Wed, 12/04/2013 - 7:08am
One of the men accused of murdering solider Lee Rigby told police it gave him "little joy to approach anybody and slay them", the Old Bailey hears.
Categories: World News

BBC to show 200 hours of Sochi 2014

BBC News World - Wed, 12/04/2013 - 7:00am
The BBC will show 200 hours of action from Sochi 2014 with Clare Balding, Hazel Irvine and Jonathan Edwards hosting the coverage.
Categories: World News

Toxic mice dropped from helicopter to kill snakes

USA Today World News - Wed, 12/04/2013 - 6:59am
Handling Guam's snake problem includes a helicopter, tissue paper and toxic mice.
Categories: World News

Blinded Donmar actor wins damages

BBC News World - Wed, 12/04/2013 - 6:53am
Actor David Birrell receives "substantial" damages after being blinded in his right eye by a prop gun at the Donmar Warehouse.
Categories: World News

Chevrolet will reveal track-oriented Corvette Z06

USA Today Money News Feed - Wed, 12/04/2013 - 6:49am
The model being shown next month will be the latest addition to the Chevy performance line
Categories: Financial News

Smart sensors are next piece of connected home puzzle

USA Today Money News Feed - Wed, 12/04/2013 - 6:46am
This hockey puck-looking gadget is the next part connecting smart homes
Categories: Financial News

Cinda's $2.5 Billion IPO Gets $65 Billion in Orders

Wall Street Journal Online - Wed, 12/04/2013 - 6:39am
Strong demand for China Cinda Asset Management's IPO raises the chances of the debt-clearing agency pricing the deal at the top end of an indicative price range.
Categories: Financial News

BBC must tackle diversity 'problem'

BBC News World - Wed, 12/04/2013 - 6:26am
James Harding, the BBC's news director, tells staff the corporation's output should "look and sound more like its audiences".
Categories: World News

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