JOB GROWTH
Meet Brian Acton, WhatsApp co-founder who was rejected for job by Facebook in 2009, tech giant later acquired messaging app for up to $19 billion
Acton never gave up and moved forward despite rejections during his career. No one knew that a rejection will soon become the reason behind a remarkable technology story. Five years after rejecting Acton, Facebook returned to him. This time it wasn't a job offer. The tech giant wanted to buy the messaging business he helped to build and grow.
India's green economy can support 1.3 crore jobs by 2035 but challenges remain: Report
The report says to build a green workforce at scale, India needs to revise the National Policy for Skill Development and Entrepreneurship, 2015, to integrate green jobs as a core focus and establish a National Green Jobs and Skilling Mission as the implementation mechanism.
India’s trade deals can boost jobs, attract investment: Commerce Secy Rajesh Agarwal
Commerce Secretary Rajesh Agarwal highlighted India's potential to grow its participation in global value chains. He noted that the current participation rate has increased significantly over the past decade. Agarwal emphasized the importance of free trade agreements with developed economies for facilitating trade and attracting investments.
World Bank flags oil, El Niño and global market risks to growth
The World Bank has revised its growth forecast for South Asia, projecting a robust 6.9% by 2026, driven by a surge in consumer demand. India, leading the region's economy, is expected to achieve a 7.1% growth. However, persistent high inflation and potential spikes in energy prices pose risks to this growth.
He quit a high-paying Amazon job with no backup plan: 3 years later, his internet business crossed $200K in profit. But former data scientist says that the real reward is control over his time
Saurabh, a former Amazon data scientist, left his corporate job 3 years ago to pursue writing. He grew his audience on the X platform and built an online business, earning over $200,000 in profit. His work with more than 60 clients has led to significant revenue results for them as well. Saurabh enjoys a flexible lifestyle and can engage in hobbies without strict timings.
US stocks: Nasdaq gains 1% at close as investors focus on earnings
The Nasdaq Composite has hit an all-time high, driven by impressive performances from tech giants Nvidia and Microsoft. In contrast, oil prices have dipped, attributed to rising crude exports from the Middle East and backing from the Group of Seven nations. Analysts forecast a notable year-over-year increase in S&P 500 earnings, buoyed by strength in the technology sector.
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Woman wants to quit 'cosy IT job' to join Farah Khan’s YouTube crew. How did the director react to her viral job pitch?
Content creator Ashima Sahni expressed her interest in joining Farah Khan's YouTube production team. She shared a video explaining her desire to leave her stable IT job for a more exciting opportunity. Farah Khan noticed Ashima's pitch, and now the director's reply goes viral. Read on!
Tata Sons' Chandrasekaran lists 3 priorities to keep India’s growth engine humming
Tata Sons Chairman N Chandrasekaran said India’s economy remains robust and resilient despite global uncertainty, with strong domestic demand, services exports and government policy supporting growth.
Global Market: Euro hits 17-month low as French fiscal worries boost dollar
The euro fell to a 17-month low as concerns over France’s fiscal outlook and bond-market selloff weighed on sentiment. The dollar strengthened despite weak US jobs data, supported by elevated Treasury yields and safe-haven demand. Diverging central-bank expectations and persistent bond volatility are likely to keep currency markets under pressure.
Dollar holds firm as French fiscal woes keep euro on back foot
The dollar's ascent continues, climbing to a 17-month peak as the likelihood of a Federal Reserve rate increase diminishes. Meanwhile, European currencies face challenges, notably the euro, burdened by rising concerns over France’s debt and political instability. Recent employment statistics from the U.S. hint at a cooling labor market, leading traders to adjust their rate expectations for October.
Gold inches up as October Fed rate hike prospects fade
During early Monday trading in Asia, gold prices surged due to lackluster US job growth figures. This disappointing employment data notably diminished the Federal Reserve's likelihood of raising interest rates in October, prompting investors to pivot towards safe-haven assets. Spot gold climbed to $4,153.32 per ounce, while silver and platinum also experienced price increases as market reactions unfolded. Economic trends are steering investment behaviors in precious metals significantly.
AI's race to transform the world before the money runs out
Cumulative spending globally on data centers alone could top $30 trillion by 2050, according to a projection by PwC, almost matching the value of outstanding US Treasuries. It "dwarfs" what was spent in the railroad or dotcom booms, even after adjusting for inflation, PwC said.
America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high
The US economy showed mixed signals over the past week, with consumer confidence falling to its lowest level since 2014 and mortgage rates reaching nearly a three-year high. Hiring weakened and job openings declined, while inflation eased slightly. Meanwhile, second-quarter GDP growth was revised higher and stocks remained near record levels.
In 2016, an Australian mother started making jewellery in her garage after losing her job; 6 years later, sales hit $2.5 million
Nikki Kelly did not set out to build a jewellery company. After losing her corporate job at 38 weeks pregnant, she used $1,000 from family savings to start making personalised pieces at home. An Etsy store became her first shopfront, and a small garage operation slowly grew into Kellective by Nikki. It is now a 13 person business with $2.5 million in turnover.
Artificial Intelligence: Which jobs are going to be replaced by AI? Which age group will be exposed the most? Here's what experts say
Which jobs are not safe from AI? Questions are being raised over the nature and magnitude of impact of Artificial Intelligence in coming times.
AI breaks India’s linear growth model, but campus hiring remains weak: Nasscom’s Rajesh Nambiar
Nambiar said large IT and BPM companies have cut back on campus hiring over the last three years, which is not expected to change while the industry is in the middle of its shift to AI.
India's white-collar hiring rises 2% in September as AI/ML jobs hit record growth: Naukri
India’s white-collar hiring grew 2% year-on-year in September, with the Naukri JobSpeak Index rising to 3,053 from 3,002 a year earlier. AI/ML hiring led sectoral growth with a 20% jump, followed by auto at 11%. Hyderabad recorded the strongest metro growth, while Mumbai and Delhi-NCR declined 6%.
Bets on US Federal Reserve rate hike in October fall as job market cools
Last month, the US economy added only 29,000 jobs, significantly below the economists’ forecast of 90,000 jobs. The unemployment rate rose to 4.2%, indicating a slight deterioration in the labor market. Traders decreased expectations for another Federal Reserve interest rate hike later this year, with less than a 20% chance for October. Despite a recent rate increase, inflationary pressures remain a concern for policymakers.
Why is US unemployment rate rising? September's jobs report indicates 'below expectations' hiring slowdown
In September, the US unemployment rate increased to 4.2% as employers added only 29,000 jobs, which is below expectations. Hiring slowed from August and earlier payrolls were revised down. Wage growth slowed.
U.S. hiring stalls at 29,000, yet Dow, S&P 500 and Nasdaq surge: Why Wall Street welcomed September’s weak jobs report
US jobs report and markets: The U.S. added only 29,000 jobs in September, far below the 90,000 economists expected. Unemployment also edged up to 4.2%. On the surface, that looks like bad news for the economy. Wall Street saw another side of it. The Dow rose 0.64%, the S&P 500 gained 0.90%, and the Nasdaq climbed 1.39%. The reason was the growing possibility that weaker hiring could reduce pressure on the Federal Reserve to keep interest rates high.
AI/ML hiring jumps 20% as white-collar job market stays steady in September: Report
Hiring for artificial intelligence and machine learning roles experienced a 20 percent increase year-on-year in September. Overall white-collar hiring remained relatively stable, indicating a shift towards specialised skills. Demand for experienced professionals in AI/ML surged, particularly among those with 13-16 years of experience. Declines were reported in traditional sectors like hospitality and education during the same period. Future hiring trends may increasingly favor specialised skills over broad-based sector growth.
India's manufacturing PMI hits 7-month high in September as domestic, export demand strengthen
India’s manufacturing activity accelerated to a seven-month high in September, with the HSBC PMI rising to 55.1 from 52.8 in August as stronger domestic and export demand lifted new orders and output. Factory production posted its sharpest expansion in four months, while hiring resumed and business sentiment improved.
Trump says he has done a 'bad job' explaining his economic record
Donald Trump admitted to a crowd that he has not effectively communicated his economic achievements to the public. He blamed worsening approval ratings on high gasoline prices and public dissatisfaction with his economic management. Trump argues that the country is performing well despite these challenges, including increased consumer pessimism. His upcoming campaign tour is aimed at reversing unfavorable polling before the November elections.
Greggs to spend £60 million cutting hundreds of jobs to save £20 million over two years
Greggs will cut 740 jobs while closing several manufacturing sites across the UK in the upcoming years. The company has announced these changes as part of its investment program and business review. It aims to ensure cost-efficiency and meet capacity requirements for future growth effectively. Although job cuts will occur, retail operations will remain unaffected by this restructuring initiative.
IBAI flags job, growth risks from IRDAI’s proposed distribution reforms
The Insurance Brokers Association of India (IBAI) has warned that IRDAI’s proposed changes to insurance distribution could shrink distribution, increase job losses and slow insurance growth. IBAI supports measures such as banning compulsory insurance bundling with loans, suitability checks and claw-backs for proven mis-selling.
US private job growth picks up sharply in September: ADP data
US private sector hiring experienced a significant rebound in September, with employers adding 90,000 jobs, up from 38,000 in August. This growth, led by the education, health care, and leisure industries, is accompanied by solid pay increases, although wage growth continues to lag behind inflation, impacting workers' purchasing power.
US job openings slipped to 7.1 million in August but labour market remains sturdy
US employers posted fewer job vacancies in August, but the broader American labour market remains resilient against price shocks caused by the fighting in Iran. Openings came in below the 7.2 million expected by forecasters. Layoffs as well as the number of people quitting their jobs also fell. Employers have added an average of 80,000 jobs a month so far this year. The next jobs report is set for Friday.
Woman gets six times salary hike in 5 years, shares one key career tip that helped her to increase pay from Rs 5 LPA to Rs 30 lakh
Shrasti Chaudhary shared her inspiring career narrative, depicting a remarkable journey in which she soared from an initial salary of Rs 5 LPA to over six times that amount within only five years. By strategically switching jobs, she not only secured notable salary hikes but also dispelled widely held beliefs about the risks of job-hopping.
Woman says she went from Rs 5 lakh to nearly 6X salary in 5 years: ‘This didn’t happen through 10% appraisals’
A woman on Instagram has shared how she says her salary grew from Rs 5 lakh per annum as a fresher to nearly six times that amount in five years. She attributed the increase to switching companies and negotiating higher pay, saying her first move doubled her salary while subsequent switches brought 30% to 50% hikes. Her career advice has since gained attention on social media.
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