US sees slower January job growth, below expectations

The United States added fewer jobs than expected in January although hiring remained healthy, government data showed Friday, marking resilience in the labor market heading into President Donald Trump’s new term.There was severe winter weather during the month and devastating fires in California, which the Labor Department said did not have a clear impact on national figures, even though analysts warned they likely showed up in the details.Looking ahead, heightened tariff risks and plans for slowing immigration under Trump may also give businesses some pause as they mull further hiring, economists said.Total employment rose by 143,000 jobs last month, according to the Labor Department, significantly lower than the revised 307,000 figure in December.The January number was also below an analyst consensus estimate of 155,000 according to Briefing.com.Meanwhile, the jobless rate edged down to 4.0 percent from 4.1 percent, beating analyst expectations.Wage growth was better than analysts expected, accelerating to 0.5 percent, the report showed.The data added to signs that the US economy remained in good shape heading into Trump’s second term, which began on January 20, analysts noted.White House Press Secretary Karoline Leavitt however said the report showed the economy under predecessor Joe Biden was “far worse than anyone thought, and underscores the necessity” of Trump’s deregulatory agenda.Kevin Hassett, director of the White House National Economic Council, took aim at downward revisions to last year’s figures in the latest update, telling media that the Trump administration has “a lot of work to do.”In a note, Nationwide chief economist Kathy Bostjancic said annual employment revisions were “larger than usual” but not unexpected.”Taken together, December and January payroll figures paint a strong picture of the economy,” added Carl Weinberg and Mary Chen of High Frequency Economics.They said they expect that with these figures, the US central bank would not be in a rush to cut interest rates.KPMG chief economist Diane Swonk noted that revisions to data suggested the first half of last year was weaker than the second, reassuring the Federal Reserve that its recent decision to hold rates steady was justified.”Payrolls held up better than expected in the wake of the fires in California, although the disaster did leave an imprint on the data,” she added in a note, pointing to a hit in the leisure and hospitality sector.Sectors like health care, retail trade and social assistance saw job gains, the Labor Department said, while employment declined in industries like mining, alongside oil and gas.- ‘Wildcard’ -“Trade policy will likely be the biggest wildcard for 2025,” said EY senior economist Lydia Boussour in a note.”Steep tariffs and heightened policy uncertainty could push businesses to increasingly adopt wait-and-see behaviors and pull back on hiring,” she warned.This could lead to a more significant slowdown in hiring, weaker incomes and restrained consumer spending, she said.Over the past weekend, Trump unveiled — and then paused — 25 percent tariffs on major US trading partners Canada and Mexico, which included a lower rate for Canadian energy imports.But an additional 10 percent levy on Chinese imports, alongside a suspension of duty-free exemptions for low value goods, came into effect on Tuesday, triggering Beijing’s announcement of retaliation.Trump has also threatened tariffs on the European Union, and signaled he could target imports in sectors including semiconductors.Ger Doyle, US country manager at ManpowerGroup, added in a note that “2025 is shaping up to be another year of significant changes.””Our real-time data show total open job postings declined three percent, indicating a slight contraction in overall job demand,” he said.

US stocks slide as inflation expectations jump

US and European shares fell Friday, with a cooler US jobs report and higher inflation expectations capping the end of a volatile week marked by concerns over a trade war.Official data showed the United States added fewer jobs than expected in January while unemployment ticked down.The jobs data missed expectations, but Wall Street’s three main indexes initially rose, but they quickly fell into the red after separate data showed US consumers now expect inflation to jump.Employment, along with inflation, are what the US Federal Reserve takes into account when setting interest rates.”Today’s NFP data does not show a large enough divergence from expectations to shift what is expected to be the Fed’s next rate move,” said Jochen Stanzl, chief market analyst at CMC Markets.”Still the Fed is expected to cut the Fed Funds rate twice this year and today’s data does not really give a hint into when the first cut will be,” Stanzl said.The Fed kept its rate unchanged last week, with chair Jerome Powell saying the central bank was in no “hurry” to adjust borrowing costs again.Total US employment rose by 143,000 jobs last month, said the Labor Department, significantly lower than the revised 307,000 figure in December.The January figure was also below an analyst consensus estimate of 155,000 according to Briefing.com.”We do not think that the labour market data shifts the dial for the Fed,” said Kathleen Brooks, research director at XTB trading platform.But data released afterwards subsequently showed US consumer sentiment fell last month to its lowest level in July, with survey respondents reporting feeling less confident and more concerned about inflation.Year-ahead inflation expectations rose to 4.3 percent, up a full percentage point from a month earlier.”Such a substantial one-month rise of one percentage point or more has occurred only five times in the past 14 years,” noted Axel Rudolph, Senior Technical Analyst at online trading platform IG.The jump in inflation expectations follows a turbulent week for stock markets and currencies after US President Donald Trump imposed tariffs on China.The US leader also warned that the European Union would face tariffs “pretty soon” while he delayed duties on Canada and Mexico at the 11th hour.- Gold and results -Investors were also tracking corporate results.In Frankfurt, Porsche shares slumped after the luxury carmaker’s forecasts for the year ahead disappointed expectations.Gold was another shining performer this week, reaching a new all-time peak as the precious metal profits from its status as a haven investment. Hong Kong and Shanghai stock markets closed solidly higher thanks to gains across technology firms. Chinese startup DeepSeek has shaken up the race for AI supremacy, spooking US tech companies. Tokyo stocks were weighed by a stronger yen, which picked up this week after Bank of Japan board member Naoki Tamura said he wanted borrowing costs to increase.- Key figures around 1630 GMT -New York – Dow: DOWN 0.6 percent at 44,484.08 pointsNew York – S&P 500: DOWN 0.6 percent at 6,044.37New York – Nasdaq Composite: DOWN 1.0 percent at 19,586.56London – FTSE 100: DOWN 0.3 percent at 8,700.53 (close)Paris – CAC 40: DOWN 0.4 percent at 7,973.03 (close)Frankfurt – DAX: DOWN 0.5 percent at 21,787.00 (close)Tokyo – Nikkei 225: DOWN 0.7 percent to 38,787.02 (close)Hong Kong – Hang Seng Index: UP 1.2 percent to 21,133.54 (close)Shanghai – Composite: UP 1.0 percent to 3,303.67 (close)Euro/dollar: DOWN at $1.0339 from $1.0387 on ThursdayPound/dollar: DOWN at $1.2405 from $1.2436Dollar/yen: DOWN at 151.18 yen from 151.47 yenEuro/pound: DOWN at 83.35 pence from 83.50 pence Brent North Sea Crude: UP 0.3 percent at $74.52 per barrelWest Texas Intermediate: UP 0.5 percent at $70.93 per barrelburs-rl/cw

Trump condemned for ICC sanctions over Israel, US probes

The International Criminal Court on Friday condemned US sanctions over probes targeting America and Israel and pledged to press on with its aim to fight for “justice and hope” around the world.The United Nations and the European Union urged US President Donald Trump to reverse the asset freezes and travel bans against ICC officials, employees and their families and anyone deemed to have helped ICC investigations.US allies, including Britain, France and Canada, were among 79 ICC member states who said the US action “could jeopardize” the safety of victims, witnesses and court officials. The sanctions could also hit the court’s technical and IT operations, including evidence gathering. There were also fears that victims might now hesitate to come forward.Trump signed an executive order Thursday saying the court based in The Hague had “abused its power” by issuing an arrest warrant for Israeli Prime Minister Benjamin Netanyahu, who held talks with the US president on Tuesday.The ICC said the sanctions sought to “harm its independent and impartial judicial work”.”The court stands firmly by its personnel and pledges to continue providing justice and hope to millions of innocent victims of atrocities across the world,” it added. – ‘Undermines’ justice system -The United Nations urged Trump to reverse the move.”The court should be fully able to undertake its independent work — where a state is unwilling or unable genuinely to carry out the investigation or prosecution,” UN human rights office OHCHR spokeswoman Ravina Shamdasani told AFP in an email.”The rule of law remains essential to our collective peace and security. Seeking accountability globally makes the world a safer place for everyone.”Antonio Costa, who heads the European Council representing the EU’s 27 member states, wrote on X that the move “undermines the international criminal justice system”.The European Commission separately expressed “regret” and stressed the ICC’s “key importance in upholding international criminal justice and the fight against impunity”.Ukraine’s foreign ministry spokesman Georgiy Tykhy also expressed concern.”We hope that they will not affect the court’s ability to achieve justice for the victims of Russian aggression,” he said.Dutch Prime Minister Dick Schoof called the US action a “disturbing signal”. As court’s host, the Netherlands would seek to maintain the “unhindered functioning” of the ICC, he added.The 79 ICC member countries said Trump’s sanctions increased the “risk of impunity” for serious crimes and “threaten to erode the international rule of law”.That statement was led by Slovenia, Luxembourg, Mexico, Sierra Leone and Vanuatu but Brazil, Britain, Canada, France and Germany were among the signatories.- ICC ‘illegitimate’: Trump -The names of individuals affected by sanctions were not immediately released, but previous US sanctions under Trump targeted the court’s prosecutor.Trump’s order said the tribunal had engaged in “illegitimate and baseless actions targeting America and our close ally Israel,” referring to ICC probes into alleged war crimes by US service members in Afghanistan and Israeli troops in Gaza.Israel’s foreign minister Gideon Saar strongly applauded Trump and called the court’s actions against Israel “immoral” and without “legal basis”.Neither the United States nor Israel are members of the court.Following a request by ICC prosecutor Karim Khan, judges issued arrest warrants on November 21 for Netanyahu, his former defence minister Yoav Gallant, and Hamas’s military chief Mohammed Deif who was killed last year.The court said it had found “reasonable grounds” to believe Netanyahu and Gallant bore “criminal responsibility” for the war crime of starvation as a method of warfare in Gaza, as well as crimes against humanity of murder, persecution, and other inhumane acts.Netanyahu accused the court of anti-Semitism.During his first term, Trump imposed financial sanctions and a visa ban on the ICC’s then prosecutor Fatou Bensouda, and other senior officials in 2020. His administration acted after Gambian-born Bensouda launched an investigation into allegations of war crimes against US soldiers in Afghanistan. Bensouda also opened a probe into events in the Palestinian territories in 2019.Current prosecutor Khan later effectively dropped the US from the Afghan investigation and focused on the Taliban instead.  President Joe Biden lifted the sanctions after taking office in 2021.burs-tw/jj

Trump condemned for ICC sanctions over Israel, US probes

The International Criminal Court on Friday condemned US sanctions over probes targeting America and Israel and pledged to press on with its aim to fight for “justice and hope” around the world.The United Nations and the European Union urged US President Donald Trump to reverse the asset freezes and travel bans against ICC officials, employees and their families and anyone deemed to have helped ICC investigations.US allies, including Britain, France and Canada, were among 79 ICC member states who said the US action “could jeopardize” the safety of victims, witnesses and court officials. The sanctions could also hit the court’s technical and IT operations, including evidence gathering. There were also fears that victims might now hesitate to come forward.Trump signed an executive order Thursday saying the court based in The Hague had “abused its power” by issuing an arrest warrant for Israeli Prime Minister Benjamin Netanyahu, who held talks with the US president on Tuesday.The ICC said the sanctions sought to “harm its independent and impartial judicial work”.”The court stands firmly by its personnel and pledges to continue providing justice and hope to millions of innocent victims of atrocities across the world,” it added. – ‘Undermines’ justice system -The United Nations urged Trump to reverse the move.”The court should be fully able to undertake its independent work — where a state is unwilling or unable genuinely to carry out the investigation or prosecution,” UN human rights office OHCHR spokeswoman Ravina Shamdasani told AFP in an email.”The rule of law remains essential to our collective peace and security. Seeking accountability globally makes the world a safer place for everyone.”Antonio Costa, who heads the European Council representing the EU’s 27 member states, wrote on X that the move “undermines the international criminal justice system”.The European Commission separately expressed “regret” and stressed the ICC’s “key importance in upholding international criminal justice and the fight against impunity”.Ukraine’s foreign ministry spokesman Georgiy Tykhy also expressed concern.”We hope that they will not affect the court’s ability to achieve justice for the victims of Russian aggression,” he said.Dutch Prime Minister Dick Schoof called the US action a “disturbing signal”. As court’s host, the Netherlands would seek to maintain the “unhindered functioning” of the ICC, he added.The 79 ICC member countries said Trump’s sanctions increased the “risk of impunity” for serious crimes and “threaten to erode the international rule of law”.That statement was led by Slovenia, Luxembourg, Mexico, Sierra Leone and Vanuatu but Brazil, Britain, Canada, France and Germany were among the signatories.- ICC ‘illegitimate’: Trump -The names of individuals affected by sanctions were not immediately released, but previous US sanctions under Trump targeted the court’s prosecutor.Trump’s order said the tribunal had engaged in “illegitimate and baseless actions targeting America and our close ally Israel,” referring to ICC probes into alleged war crimes by US service members in Afghanistan and Israeli troops in Gaza.Israel’s foreign minister Gideon Saar strongly applauded Trump and called the court’s actions against Israel “immoral” and without “legal basis”.Neither the United States nor Israel are members of the court.Following a request by ICC prosecutor Karim Khan, judges issued arrest warrants on November 21 for Netanyahu, his former defence minister Yoav Gallant, and Hamas’s military chief Mohammed Deif who was killed last year.The court said it had found “reasonable grounds” to believe Netanyahu and Gallant bore “criminal responsibility” for the war crime of starvation as a method of warfare in Gaza, as well as crimes against humanity of murder, persecution, and other inhumane acts.Netanyahu accused the court of anti-Semitism.During his first term, Trump imposed financial sanctions and a visa ban on the ICC’s then prosecutor Fatou Bensouda, and other senior officials in 2020. His administration acted after Gambian-born Bensouda launched an investigation into allegations of war crimes against US soldiers in Afghanistan. Bensouda also opened a probe into events in the Palestinian territories in 2019.Current prosecutor Khan later effectively dropped the US from the Afghan investigation and focused on the Taliban instead.  President Joe Biden lifted the sanctions after taking office in 2021.burs-tw/jj

DR Congo conflict advances as UN warns of regional escalationFri, 07 Feb 2025 16:48:59 GMT

The Rwanda-backed M23 armed group was threatening another key town in eastern Democratic Republic of Congo on Friday, as the United Nations top rights body said it would launch an investigation into alleged violations and abuses during the deadly clashes gripping the African nation.M23 fighters and Rwandan troops seized the city of Goma last week …

DR Congo conflict advances as UN warns of regional escalationFri, 07 Feb 2025 16:48:59 GMT Read More »

Flowers in the sand: families mourn Senegal migrants lost at seaFri, 07 Feb 2025 16:46:54 GMT

Fatou Fall defiantly faced the ocean and sadly laid a flower on Mbao beach near Senegal’s capital Dakar in memory of her husband — one of many who left on perilous clandestine crossings for Europe but never returned.The young widow was one of many of those left behind paying a low-key tribute to the country’s …

Flowers in the sand: families mourn Senegal migrants lost at seaFri, 07 Feb 2025 16:46:54 GMT Read More »

Trump, Swift join Super Bowl party as Chiefs chase ‘three-peat’

The Kansas City Chiefs chase a historic hat-trick of Super Bowl titles when they take on the Philadelphia Eagles here Sunday as New Orleans hosts the NFL showpiece just five weeks after a deadly attack in the city’s party district.In a first for a sitting US President, Donald Trump will be among an array of VIPs and celebrities in a sell-out crowd of around 74,000 who will be packed into the Caesars Superdome for the biggest annual event in the American sporting calendar.Pop superstar Taylor Swift will also be in attendance to watch as her boyfriend Travis Kelce and his Chiefs team-mates bid to win an unprecedented third straight Vince Lombardi Trophy, and a fourth in six seasons.There is a heavy police presence in the city and blanket security around the event after the New Year’s Day attack which saw 14 people killed and many more injured in the Big Easy’s famous Bourbon Street district.A US army veteran, who the FBI say was motivated by loyalty to the jihadist Islamic State group, used a pickup trick to kill and wound revelers in the crowded French quarter.Authorities expect over 100,000 visitors to the city for the game which the Department of Homeland Security has assigned a Special Event Assessment Rating (SEAR) Level 1 designated event, the highest classification level of public safety risk.”I’m confident the safest place this weekend will be under the security umbrella we have in place around [the Superdome],” Cathy Lanier, the NFL’s chief security officer, said this week. “We have reviewed, and re-reviewed, all the events of January 1.”Trump’s presence will only increase the security effort with the President going beyond the traditional pre-game televised interview to attend in person.Trump has had a strained relationship with the NFL in the past — he was part of an anti-trust lawsuit against the league in the 1980s when he owned a club in the rival USFL league.In 2017, Trump criticised NFL players who knelt during the playing of the US national anthem to draw attention to issues of racial injustice, prompting strong criticism from some players.Trump then cancelled a planned White House reception for the Eagles after large numbers of players had made it clear they would not attend.But there has been no objection from players to Trump attending Sunday’s game with Chiefs star quarterback Patrick Mahomes, who is seeking his fourth Super Bowl ring, describing the prospect as “cool”.As always, the Super Bowl crosses over into popular culture and the half-time show this year will feature hip-hop artist Kendrick Lamar, who had a clean sweep at last Sunday’s Grammys, winning in all five categories for which he received nominations.Bookmakers and casinos meanwhile are taking odds on whether Chiefs star Kelce will propose to pop icon Swift after the game.American sportsbooks, now legal in 38 states, could take an estimated $1.39 billion in bets on the Super Bowl according to an annual report from the American Gaming Association (AGA).- Chiefs favourites -For the more serious punters, the oddsmakers have the Chiefs as slight favourite for the game which is a rematch of the Super Bowl from two years ago which the Chiefs won by three points.The Chiefs defended their title last year, beating the San Francisco 49ers in Las Vegas and putting them one win away from an unprecedented ‘three-peat’.The 29-year-old Mahomes will become one of just four quarterbacks in the history of the NFL to have won more than three Super Bowls should he triumph again.But the Eagles have added serious offensive firepower since their defeat two years ago with mobile quarterback Jalen Hurts joined by the game-changing speed and power of running back Saquon Barkley.While the Super Bowl regularly draws the biggest television audience of the year in the USA, interest in the NFL is growing outside of it’s stronghold.There is international involvement in this year’s game with Eagles offensive tackle Jordan Mailata looking to become the first Australian to play in and win a Super Bowl.Having played in Brazil this year, the NFL is rapidly expanding their presence globally and next season regular season games will be held in London, Berlin and Madrid with Melbourne, Australia, to host a game in 2026.In this week’s build-up, NFL commissioner Roger Goodell floated the idea that the Super Bowl itself might one day be held outside the USA.”I do think there’s potential that someday we will have an international franchise. If we do, it would not surprise me at all if a Super Bowl follows and is played there,” he said.

India PM Modi to meet Trump in US visit next week: foreign ministry

Indian Prime Minister Narendra Modi will meet President Donald Trump during a trip to the United States next week, the foreign ministry in New Delhi said on Friday.Modi, who will visit Washington from February 12-13, will be “among the first few world leaders to visit the United States following the inauguration of President Trump”, India’s top career diplomat, Vikram Misri, told reporters.Misri said there had been a “very close rapport” between the leaders, although their ties have so far failed to bring a breakthrough on a long-sought US-India trade deal.”The visit will be a valuable opportunity to engage the new administration on all areas of mutual interest”, he said, adding that Modi would hold a bilateral meeting with Trump.”This has been one of our strongest international partnerships in recent years and the prime minister’s visit is in line with our steady engagement with the new administration,” Misri said.Modi was among the first to congratulate his “dear friend” Trump on his inauguration last month, saying he wanted New Delhi and Washington to work closely together.”I look forward to working closely together once again, to benefit both our countries, and to shape a better future for the world”, Modi wrote on X in January.- ‘Very close rapport’ -However, Trump pressed Modi for “fair” trading ties in a telephone call later that month, the White House said, as Trump pushed his hardline trade agenda with world leaders.Trump and Modi also discussed strengthening the so-called Quad grouping with Australia and Japan, which is widely seen as a counterweight to China.India is due to host the bloc’s leaders later this year.The Indian and US leaders, both of whom critics accuse of authoritarian tendencies, enjoyed warm relations when Trump was in the White House from 2017 to 2021.Modi visited Trump in office in 2017 and 2019.He also hosted Trump at a huge rally in his home state of Gujarat, while Trump returned the favour with a similar event in Houston, Texas.”There is an obvious convergence of interests between the two countries,” Misri said, which included “trade, investment, technology, defence cooperation, counter-terrorism (and) the security of the Indo-Pacific”.The meeting will come days after a US military airplane flew back 104 Indian migrants, part of Trump’s overhaul of immigration.India’s foreign ministry said it was “firmly opposed to illegal migration, especially as it is linked to other forms of organised crime”.But New Delhi’s foreign minister Subrahmanyam Jaishankar on Thursday pointed out that  the “process of deportation is not a new one”, and that the United States had expelled more than 15,000 Indians since 2009, almost half of them between 2019-2024.India is the world’s fifth-largest economy and enjoys world-beating GDP growth, but hundreds of thousands of its citizens still leave the country each year seeking better opportunities abroad.

India PM Modi to meet Trump in US visit next week: foreign ministry

Indian Prime Minister Narendra Modi will meet President Donald Trump during a trip to the United States next week, the foreign ministry in New Delhi said on Friday.Modi, who will visit Washington from February 12-13, will be “among the first few world leaders to visit the United States following the inauguration of President Trump”, India’s top career diplomat, Vikram Misri, told reporters.Misri said there had been a “very close rapport” between the leaders, although their ties have so far failed to bring a breakthrough on a long-sought US-India trade deal.”The visit will be a valuable opportunity to engage the new administration on all areas of mutual interest”, he said, adding that Modi would hold a bilateral meeting with Trump.”This has been one of our strongest international partnerships in recent years and the prime minister’s visit is in line with our steady engagement with the new administration,” Misri said.Modi was among the first to congratulate his “dear friend” Trump on his inauguration last month, saying he wanted New Delhi and Washington to work closely together.”I look forward to working closely together once again, to benefit both our countries, and to shape a better future for the world”, Modi wrote on X in January.- ‘Very close rapport’ -However, Trump pressed Modi for “fair” trading ties in a telephone call later that month, the White House said, as Trump pushed his hardline trade agenda with world leaders.Trump and Modi also discussed strengthening the so-called Quad grouping with Australia and Japan, which is widely seen as a counterweight to China.India is due to host the bloc’s leaders later this year.The Indian and US leaders, both of whom critics accuse of authoritarian tendencies, enjoyed warm relations when Trump was in the White House from 2017 to 2021.Modi visited Trump in office in 2017 and 2019.He also hosted Trump at a huge rally in his home state of Gujarat, while Trump returned the favour with a similar event in Houston, Texas.”There is an obvious convergence of interests between the two countries,” Misri said, which included “trade, investment, technology, defence cooperation, counter-terrorism (and) the security of the Indo-Pacific”.The meeting will come days after a US military airplane flew back 104 Indian migrants, part of Trump’s overhaul of immigration.India’s foreign ministry said it was “firmly opposed to illegal migration, especially as it is linked to other forms of organised crime”.But New Delhi’s foreign minister Subrahmanyam Jaishankar on Thursday pointed out that  the “process of deportation is not a new one”, and that the United States had expelled more than 15,000 Indians since 2009, almost half of them between 2019-2024.India is the world’s fifth-largest economy and enjoys world-beating GDP growth, but hundreds of thousands of its citizens still leave the country each year seeking better opportunities abroad.