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Orders for long-lasting goods rose last month, reflecting a pickup in demand despite other signs pointing to a cooling economy. New orders for durable goods—products meant to last at least three years—rose 1.9% in June to a seasonally adjusted $272.6 billion, the Commerce Department said Wednesday. The increase was seen across most categories, including motor vehicles and military aircraft. Excluding defense, orders were up a more modest 0.4%.…

There are many Australian actors who have made it big in Hollywood, including Chris Hemsworth (who famously eventually left LA), Nicole Kidman, Rebel Wilson, Hugh Jackman, and more. Aussie actress Rose Byrne falls into this category as she appeared in several television shows in the ‘90s as well as a handful of low-budget Australian indie films before venturing to Hollywood. The Golden Globe-nominated actress recalled how she has late actor Heath Ledger to thank for helping to pave the way for Australian actors to make…

June’s increase came after sales declined slightly in May, the Commerce Department said Friday.Consumers spent more last month across a broad range of goods, including furniture, groceries and gas. They also spent more at restaurants. Spending declined at building-supply, clothing and department stores. Some of the growth in retail sales last month likely reflects that consumers were paying higher prices for goods and services. Unlike many other economic-data reports produced by the U.S.…

The proportion of automotive manufacturing and supply companies hiring for digitalization related positions rose in June 2022 compared with the equivalent month last year, with 72.7% of the companies included in our analysis recruiting for at least one such position. This latest figure was higher than the 70.2% of companies who were hiring for digitalization related jobs a year ago and an increase compared to the figure of…

Climbing prices for food, energy and housing squeezed shoppers’ wallets in June, driving consumer inflation to a 9.1% annual rate, the highest in nearly 41 years, the Labor Department said Wednesday. More than half of what the average household spends in each month goes toward these items combined.Below is a breakdown of what drove June’s inflation–and the (relatively few) areas in which price pressures eased, according to the department’s consumer-price index. Food A trip to the supermarket is…

The federal government ran an $89 billion deficit during June, a 49% decline from a year earlier, as spending fell and revenue increased. Federal outlays in June dropped by 12% to $550 billion, not adjusting for calendar differences, the Treasury Department reported Wednesday. That reflected a reduction in spending on pandemic programs, including at the Small Business Administration and Treasury and Labor Departments. Government receipts for the month rose by 3% from a year…

Samsung Electronics on Wednesday said first-quarter profit likely rose 44 percent, with analysts attributing the surge to brisk sales of smartphones and TVs, albeit tempered by a likely fall in chip earnings after a storm halted US output.The South Korean technology giant forecast January-March operating profit of SKW 9.3 trillion (roughly Rs. 61,940 crores), matching a weighted average analyst forecast from Refinitiv SmartEstimate.Analysts said Samsung's mobile division likely saw operating profit soar more than SKW 1…

The proportion of automotive manufacturing and supply companies hiring for digital media related positions rose significantly in June 2022 compared with the equivalent month last year, with 62.1% of the companies included in our analysis recruiting for at least one such position. This latest figure was higher than the 49.1% of companies who were hiring for digital media related jobs a year ago but a decrease compared to the…

Gasoline prices are falling almost as quickly as they rose, creating new headaches for the mom-and-pop entrepreneurs and other independent operators who run roughly half of U.S. gas stations.Fuel station owners set the prices consumers see at the pump, based on what they initially paid to fill their underground tanks of gasoline and diesel. They have to sell that fuel for a corresponding amount to recoup their investments and manage a profit, which can take days or weeks, depending on how quickly they turn over their…

New applications for unemployment benefits edged higher last week, suggesting the labor market is loosening a bit as the economy shows signs of slowing. Initial jobless claims, a proxy for layoffs, rose to a seasonally adjusted 235,000 last week from 231,000 the week before, the Labor Department said Thursday. The figure stands just above the 2019 prepandemic weekly average of 218,000, when the labor market was also strong. The four-week moving average for claims, which…