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In October, the U.S. added just 12,000 jobs, significantly down from September's 223,000, due to the impact of hurricanes and strikes, including at Boeing. The unemployment rate remained at 4.1%, indicating a still healthy labor market despite disruptions. Factories lost 46,000 positions, reflecting strike effects.
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News and Media
Wall Street recently criticised major tech firms for their AI spending, but Amazon, Microsoft, Meta, and Alphabet plan to invest even more, exceeding $200 billion this year. These companies are securing chips and building data centers to support AI, aiming for future profitability despite current high expenses.
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News and Media
The Reserve Bank of India's foreign exchange reserves decreased by $3.5 billion to $684.8 billion in the week ended September 25, primarily due to the central bank's dollar sales to prevent rupee depreciation. Foreign currency assets fell significantly while gold reserves saw a rise. Outflows from Indian stocks and bonds added pressure on the rupee.
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News and Media
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