Latest Business News
US Adds 178,000 Jobs in March, Unemployment Dips to 4.3%
American employers added a surprising 178,000 jobs last month, rebounding from February's 133,000 losses, far exceeding economist forecasts. The unemployment rate fell to 4.3% as the labor force shrank, with gains in health care (76,400 jobs) and construction.
Wage growth slowed to 3.5% year-over-year, aligning with Fed's inflation target, though Iran war uncertainties cloud outlook.
Wall Street Closed for Good Friday, Futures Dip After Jobs Data
US stock futures edged lower early Friday—S&P 500 down 0.3%, Dow 0.2%, Nasdaq 0.4%—following robust March jobs report. Markets closed for holiday amid energy price surges from Iran conflict; crude hit $111.54/barrel Thursday.
Asian markets mixed: Nikkei up 1.3%, Kospi 2.7%, Shanghai down 1%.
European Ministers Urge EU-Wide Windfall Tax on Energy Firms
Finance ministers from Spain, Germany, Italy, Portugal, and Austria call for profit caps on energy companies due to Iran war-driven oil/gas spikes. Eurozone inflation rose to 2.5% in March from higher energy costs; Iran blocked Strait of Hormuz, threatening 20% of global oil.
Letter demands fair burden-sharing to ease household strain amid market distortions.
Oil Prices Surge 11% on Iran War Fears, Markets Closed Friday
US crude jumped 11.4% to $111.54/barrel Thursday on prolonged Iran conflict concerns; Brent rose 7.8% to $109.03. Energy markets halted for Good Friday after gains; global reliance on Persian Gulf exposes vulnerabilities.
EU warns fuel prices won't normalize soon due to Strait of Hormuz blockade.
Unilever Announces $44.8 Billion Asset Sale
Unilever revealed a major US$44.8bn asset sale as part of this week's top leadership stories. The deal highlights strategic shifts in consumer goods amid economic pressures.
Details on buyers and assets involved were not specified in reports.
Former BP CEO Bernard Looney Joins Prometheus Hyperscale as CEO
Ex-bp CEO Bernard Looney appointed head of Prometheus Hyperscale, featured in top leadership news. Move comes amid energy sector turbulence from global events.
Looney's expertise eyed for hyperscale data center growth.
Iran War Clouds US Labor Market Outlook Despite Job Gains
Strong March hiring eases Fed pressure for rate cuts but war uncertainties may stall future gains. Companies hesitant amid higher energy prices and tariffs/immigration policies.
Labor force participation hit lowest since 2021 at 61.9%.
Eurozone Inflation Hits 2.5% on Energy Price Spike
Annual inflation in euro-using countries rose to 2.5% in March, up from 1.9%, driven by oil surges from Iran conflict. Households face strain; ministers push for energy firm contributions.
EU vulnerable due to import dependence.
Opinion: Trump Iran War Undermines US Global Economic Legitimacy
Critics argue US 'war of choice' in Iran destroys trade security pillar of American primacy, blaming Trump administration. Strait closure and Gulf attacks retaliate despite no imminent threat.
Allies worldwide fault US for economic fallout.
Asian Markets Rally Amid Holiday Closures and Jobs Data
Japan's Nikkei surged 1.3% to 53,123; South Korea's Kospi up 2.7% despite US futures dip. Shanghai fell 1%; many Asia-Pacific markets closed for Good Friday.
Strength tied to strong US jobs offsetting energy fears.