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WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rose last week, but the underlying trend continued to point to a robust labor market that should keep the economy on a strong growth path this year. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 213,000 for the week ended Aug. 25, the Labor Department said on Thursday. Data for the prior week was unrevised. Claims had declined for three straight weeks. Economists polled by Reuters had forecast claims rising to 214,000 in the latest week.
The Labor Department said only claims for Maine were estimated last week, The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 1,500 last week to 212,250, the lowest level blue sterling silver masonic cufflinks since December 1969, There are no signs so far in the claims data that the Trump administration’s protectionist trade policy, which has led to an escalating trade war with China and tit-for-tat import tariffs with other trading partners, including the European Union, Canada and Mexico, is hurting the labor market..
The jobs market, which is viewed as being near or at full employment, is steadily raising wage growth, helping to support consumer spending and boost the overall economy. The economy grew at a 4.2 percent annualized rate in the second quarter, the fastest pace in nearly four years and almost double the 2.2 percent rate notched in the January-March period. Thursday’s claims report also showed the number of people receiving benefits after an initial week of aid dropped 20,000 to 1.71 million for the week ended Aug. 18. The four-week moving average of the so-called continuing claims fell 4,500 to 1.73 million.
FRANKFURT (Reuters) - German carmaker Volkswagen said only half of its VW branded passenger car models in Germany are compliant with a new pollution standard, thanks to a much tougher emissions testing regime, Cars in the European Union must comply with the new Worldwide Harmonised Light Vehicle Test Procedure (WLTP) from September, but Volkswagen has only gained regulatory clearance for seven of its 14 main model lines, “The new tests are more cumbersome and take two to three times longer than in the past, even blue sterling silver masonic cufflinks limited edition models need to be tested separately,” Volkswagen’s Thomas Zahn said in a call with journalists on Thursday..
“The coming months will be challenging for us,” said Zahn, head of sales and marketing for Volkswagen passenger cars. Volkswagen’s top-selling Golf model is among the vehicles still waiting to be cleared by authorities, Zahn said. He said he expected the Golf to pass the WLTP standards by the end of September. Shipments of cars are expected to slow down in September and October, but pick up again in the final two months of the year. “We expect very strong deliveries in December,” Zahn said.
Carmakers including Daimler, Volkswagen and supplier Valeo have cut profit expectations, blaming a slowdown in global sales triggered in part by delays getting vehicles certified to the new standard, Analysts at Evercore ISI said the WLTP delays at the VW brand appear to be under control since the carmaker has not resorted to blue sterling silver masonic cufflinks heavy discounting to keep sales flowing, Nonetheless delays will cause profitability of the brand to drop to around 2 percent in the third quarter, from 5.5 percent in the second quarter, Evercore said in a note on Thursday..
(Reuters) - Discount store operator Dollar Tree Inc (DLTR.O) reported quarterly same-store sales on Thursday that fell short of estimates due to weak sales at its Family Dollar stores, sending its shares down 5 percent. Overall sales at established stores open for more than a year rose 1.80 percent, while analysts had estimated a 1.84 percent increase, according to Thomson Reuters I/B/E/S. The company’s net income rose to $273.9 million, or $1.15 per share, in the second quarter ended Aug. 4, from $233.8 million, or 99 cents per share, a year earlier.
SAN FRANCISCO/WASHINGTON (Reuters) - An online army of skeptics and amateur blue sterling silver masonic cufflinks sleuths that has spent years promoting bets against Tesla Inc senses an opportunity to renew pressure on the electric carmaker after the failure of Chief Executive Elon Musk’s plan to take it private, A go-private deal at $420 a share announced by Musk in an Aug, 7 tweet would have wiped out short bets against Tesla and hidden the company’s financials from the public eye, But Musk’s abrupt Friday announcement that he was dropping his plan and media reports of a U.S, Securities and Exchange Commission (SEC) probe into his tweets have galvanized Tesla bears..
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