Saturday 23 September 2017

In Brief: US hiring pace slows

US employers hired fewer workers than expected in August and the jobless rate hit a four-and-a-half-year low as Americans gave up the search for work.

The new figures could delay the US Federal Reserve scaling back its massive monetary stimulus later this month. Non-farm payrolls increased by 169,000 last month, adding to signs that third-quarter economic growth may have slowed down a little. (Reuters)

UK GROWTH SPEEDS UP

The UK economy grew at its fastest rate in more than three years in the quarter through August, according to an estimate from the National Institute of Economic and Social Research.

Gross domestic product rose 0.9pc after a 0.7pc gain in the three months through July, the London-based institute, whose clients include the Bank of England and the UK Treasury, said.

VIRGIN BOSS OPTIMISTIC

Virgin Atlantic's chief executive Craig Kreeger said he's optimistic about a turnaround at the UK airline as the economy improves and a pact with Delta Air Lines boosts access to US markets.

Antitrust clearance for joint transatlantic operations with Delta may come this month after the US Department of Transportation signalled its approval last week. (Bloomberg)

DAIL PANEL'S LAST CALL

THE Oireachtas Jobs Committee is making a last call for written submissions from interested groups or individuals in advance of its consideration of the committee stage of the Companies Bill.

Damien English, committee chairman, said the bill proposed many changes to company law. "It will also introduce several company law reforms. I would encourage any individuals or groups with an interest in this legislation to forward a submission to the committee before Monday's 3pm deadline," he said.

VERIZON FACES LAWSUIT

A Verizon Communications shareholder has reportedly sued to stop its acquisition of Vodafone group's 45pc stake in Verizon Wireless for $130bn (€99bn) in what may be the first investor class action stemming from the deal.

Natalie Gordon alleged in her complaint that the agreement is "insufficient and inadequate" to shareholders of New York- based Verizon. She seeks group status for the lawsuit on behalf of all affected shareholders. (Bloomberg)

Irish Independent

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