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On September 17, local time, Ukrainian President Volodymyr Zelensky signed a presidential decree appointing Anton Kovalsky as acting Prosecutor General. The decree has been published on the website of the Ukrainian Presidential Palace. On September 14, Zelensky signed a presidential decree dismissing Kravchenko from his post as Prosecutor General. Previously, the Ukrainian National Anti-Corruption Service had launched an investigation into Kravchenko, and Kravchenko was implicated in related cases. Kovalsky will serve as the head of the Khmelnytskyi Regional Prosecutors Office from July 1, 2025.On September 17th, Kimi, the Dark Side of the Moon, announced the release of its financial industry solutions. According to the announcement, all users can install and experience nine financial skills and over 10 data source plugins at kimi.com. Professionals and developers can install and access data source plugins and financial skills through the Kimi Work desktop client and Kimi Code. Additionally, there is the Kimi Hosted Agents service for enterprises.On September 17th, ING stated that as India moves up the value chain into service sectors that are harder to automate, there are few signs that its outsourcing industry is being replaced by artificial intelligence. Economist Deepali Bhargava wrote that software services exports as a percentage of GDP have risen from 3.3% before the pandemic to approximately 5.2%. During the same period, business services, including finance, accounting, engineering, research, and analytics, more than doubled their share of GDP to 3.3%. This performance challenges concerns that generative AI could weaken one of Indias most important industries by automating traditional outsourcing work. According to ING data, India accounts for more than half of the global outsourcing industry, earning approximately $205 billion annually from software services exports and supporting about 5.8 million workers. Software and business services exports combined account for about 8.5% of GDP and are a significant source of foreign exchange.Nokia: Expanding its partnership with Microsoft to accelerate network automation and build a unified data foundation.On September 17, the Shanghai Stock Exchanges bond project information platform showed that Chongqing Longfor Enterprise Development Co., Ltd. plans to publicly issue corporate bonds to professional investors, with a proposed issuance amount of 2.73 billion yuan. The project has been accepted.

S&P 500, NASDAQ Pressured by Fed Rate Hike Fears Amid Hot US Labor Market

Cory Russell

Jan 06, 2023 14:38

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The main U.S. stock indexes are set to start Thursday's trading day down after a closely watched private sector employment data revealed further evidence of a robust labor market, igniting concerns that the Federal Reserve would continue raising interest rates for longer than anticipated.


The Dow Jones Industrial Average is at 32872.70 at 14:42 GMT, down 397.07 points or -1.19%. The NASDAQ Composite is trading at 10309.03, down 149.73 or -1.43%, while the S&P 500 Index is at 3807.02, down 45.25 or -1.17%.


ADP claims that in December, private payroll growth increased by 235,000.


Private payroll growth in the United States exceeded expectations in December, showing that there is still a significant demand for workers despite rising interest rates.


According to the ADP National Employment report released on Thursday, private employment climbed by 235,000 jobs in the last month. Unrevised data for November showed 127,000 new jobs gained. Reuters questioned economists, who predicted a 150,000 increase in private employment.


US Weekly Jobless Claims Reach Three-Month Low; December Saw Fewer Layoffs

Layoffs decreased 43% in December while the number of Americans submitting new unemployment benefit claims plummeted to a three-month low last week, indicating a strong job market that may need more interest rate increases from the Federal Reserve.


The Labor Department said on Thursday that initial applications for state unemployment benefits dropped 19,000 to a seasonally adjusted 204,000 for the week ending December 31, the lowest level since late September. 225,000 claims were predicted by economists surveyed by Reuters for the most recent week.

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