US jobless claims dip for first time in 3 weeks
Initial jobless claims decreased by 3,000 to 224,000 during the week, the US Department of Labor said today, Aug. 14.
This came against expectations of a rise to 228,000 from the previous week's revised figure of 227,000.
The four-week moving average of jobless claims rose by 750 to 221,750, compared to the previous week's upwardly revised average of 221,000 (+250).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Arabiya
3 hours ago
- Al Arabiya
OpenAI staff looking to sell $6 billion in stock: Report
Current and former employees of OpenAI are looking to sell nearly $6 billion worth of the ChatGPT maker's shares to investors including SoftBank Group and Thrive Capital, a source familiar with the matter told Reuters on Friday. The potential deal would value the company at $500 billion, up from $300 billion currently, underscoring both OpenAI's rapid gains in users and revenue, as well as the intense competition among artificial intelligence firms for talent. SoftBank, Thrive and Dragoneer Investment Group did not immediately respond to requests for comment. All three investment firms are existing OpenAI investors. Bloomberg News, which had earlier reported the development, said discussions are in early stages and the size of the sale could change. The secondary share sale investment adds to SoftBank's role in leading OpenAI's $40 billion primary funding round. Bolstered by its flagship product ChatGPT, OpenAI doubled its revenue in the first seven months of the year, reaching an annualized run rate of $12 billion, and is on track to reach $20 billion by the end of the year, Reuters reported earlier in August. Microsoft-backed OpenAI has about 700 million weekly active users for its ChatGPT products, a surge from about 400 million in February.
Asharq Al-Awsat
4 hours ago
- Asharq Al-Awsat
Egypt Registers Record Primary Surplus of 629 billion Pounds in 2024-25 Fiscal Year
Egypt registered a record primary surplus of 629 billion Egyptian pounds ($13 billion) in the 2024-2025 fiscal year, equal to 3.6% of the country's gross domestic product, the presidency said in a statement on Saturday, Reuters reported. The primary surplus came 80% above that in the 2023-2024 fiscal year.
Arab News
10 hours ago
- Arab News
Designated banks stay open today as Pakistan receives Hajj applications on final day
ISLAMABAD: Designated banks across Pakistan are open today for the receipt of Hajj applications from intending pilgrims under the government scheme, according to the Pakistani religious affairs ministry. Pakistan has a Hajj quota of 179,210 pilgrims. Of this, 129,210 seats have been allocated for the government scheme and the rest for private tour operators. The religious affairs ministry this week said it had received 91,000 applications under the government scheme. The religious affairs ministry said the State Bank of Pakistan accepted its request and issued orders to keep open branches of 14 designated banks for the receipt of Hajj applications on the final day. Pakistan began receiving Hajj applications on Aug. 4. 'Bookings will be closed once the required number of applicants is reached,' the ministry said. 'Hajj applications received on a first-come, first-served basis will be considered valid.' It urged Hajj applicants to obtain a computerized receipt from the bank and check their details on the ministry's online portal or Pak Hajj 2026 app. 'In case of any mistake, get it corrected immediately by the concerned bank,' the ministry added. Under the government scheme, pilgrims can choose between a long Hajj package (38–42 days) and a short package (20–25 days). The estimated cost of the government Hajj package ranges between Rs1,150,000 and Rs1,250,000 (approximately $4,050 to $4,236). 'It is mandatory to submit the first installment of Rs500,000 or Rs550,000 along with the application according to the package,' the ministry said this week. 'The second installment of Hajj dues will be collected from November 1.' Saudi Arabia approved the same overall quota for Pakistan in 2025, but a significant portion of the private allocation went unused due to delays by tour operators in meeting payment and registration deadlines, while the government fulfilled its share of over 88,000 pilgrims. Private operators blamed the shortfall on technical issues, including payment processing and communication problems.
