US Hiring Slows Sharply in June as Payrolls Rise Just 57,000
The US economy added only about 57,000 jobs in June, roughly half of what economists expected, with earlier months revised lower and unemployment easing to 4.2% on weaker participation.
Daily Brief
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The US economy added only about 57,000 jobs in June, roughly half of what economists expected, with earlier months revised lower and unemployment easing to 4.2% on weaker participation.
Semiconductor shares fell sharply heading into the July 4 break, with the main chip index dropping nearly 7% in a single session as investors locked in gains after the sector roughly doubled during the second quarter.
US markets resume trading on July 6 following the Independence Day break, with investors turning to fresh services-sector data, the trade balance and minutes from the Federal Reserve's June meeting.
India's Life Insurance Corporation is engaging regulators including the RBI and SEBI to broaden the availability of long-term investment instruments, as rising demand for its annuity products increases the need to match long-dated liabilities.
India's insurance regulator has revised remuneration norms for senior insurance executives, requiring a stronger focus on claims settlement, grievance redressal and policyholder outcomes, a move that has sparked debate over regulatory reach.
Grievance filings against insurers in India are climbing sharply, driven largely by health insurance, even though the segment accounts for a relatively small share of overall premiums.
The Upper Tribunal has suspended parts of the Financial Conduct Authority's £7.5 billion motor finance compensation scheme on terms agreed with four challengers, though firms must still comply with the rules that remain in force.
The Monetary Authority of Singapore has put forward a framework called SAFR to govern the use of autonomous AI agents in financial services, setting out how their actions are authorised, when humans must intervene and what must be recorded.
New APRA reforms taking effect on July 1 change how insurers hold capital against longevity products, introducing an advanced illiquidity premium option intended to support more competitively priced retirement-income offerings.
Australia's prudential regulator has published findings from its first System Risk Stress Test, warning that decisions by a small number of very large superannuation funds could have outsized effects across the financial system.
The Central Bank of the UAE has penalised a branch of a foreign bank Dh1.82 million for failing to issue a liability letter within the required seven days, in breach of its market conduct and consumer protection rules.
Bank of Japan policymakers have signalled support for continuing to raise interest rates in gradual steps toward a neutral level near 2%, citing underlying inflation approaching target and still-accommodative financial conditions.
South Korea's consumer prices rose 3.2% year-on-year in June, up slightly from 3.1% in May, suggesting that the recent cooling in inflation has stalled and price pressures remain above the 3% mark.
Germany's financial regulator BaFin has issued a run of penalties for market-abuse and disclosure failures, underscoring a tougher stance on corporate transparency and investor protection.
Canada's banking regulator is maintaining its loan-to-income limits on mortgage lending and flagging that a challenging trade environment is weighing on growth and borrowers, heightening credit risks for banks.