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Fox News
5 minutes ago
- Fox News
Dan Hoffman urges European countries to ‘step up' and deter Russian attacks on Ukraine
Fox News contributor Dan Hoffman discusses the impact of the Trump-Putin summit in Alaska and Ukrainian President Volodymyr Zelenskyy's upcoming visit to the White House on 'Fox News Live.'
Yahoo
31 minutes ago
- Yahoo
Japan posts unexpectedly strong GDP, helped by resilient exports
By Makiko Yamazaki and Kantaro Komiya TOKYO (Reuters) -Japan's economy grew much faster than expected in the second quarter as export volumes held up well against new U.S. tariffs, giving the central bank some of the conditions it needs to resume interest rate hikes this year. Gross domestic product (GDP) rose 1.0% on an annualised basis, government data showed on Friday, marking the fifth straight quarter of expansion after the previous quarter's contraction was revised to growth. However, analysts warn global economic uncertainties fuelled by U.S. tariffs could weigh on the world's fourth-largest economy in the coming months, especially as automakers struggle to keep prices down for American customers. "The April-June data masked the real effect of Trump's tariffs," said Takumi Tsunoda, senior economist at Shinkin Central Bank Research Institute. "Exports were strong thanks to solid car shipment volumes and last-minute demand from Asian tech manufacturers ahead of some sectoral tariffs. But these aren't sustainable at all." The increase in GDP was helped by surprisingly resilient exports and capital expenditure and compared with median market expectations for a 0.4% gain in a Reuters poll. It followed a 0.6% rise in the previous quarter, which was revised up from a 0.2% contraction. The reading translates into a quarterly rise of 0.3%, better than the median estimate of a 0.1% uptick. The strong data contrasts with China, which saw factory output growth hit an eight month low and retail sales slow sharply in July. Private consumption, which accounts for more than half of Japan's economic output, rose 0.2%, compared with a market estimate of a 0.1% increase. It grew at the same pace as the previous quarter. Consumption and wage trends are factors the Bank of Japan is watching to gauge economic strength and determine the timing of its next interest rate action. Capital spending, a key driver of domestic demand, rose 1.3% in the second quarter, versus a rise of 0.5% in the Reuters poll. Net external demand, or exports minus imports, contributed 0.3 of a point to growth, versus a 0.8 point negative contribution in the January-March period. The United States imposed 25% tariffs on automobiles and auto parts in April and threatened 25% levies on most of other Japanese imports. It later struck a trade deal in July that lowered tariffs to 15% in exchange for a U.S.-bound $550 billion Japanese investment package. Japanese economy minister Ryosei Akazawa told a press conference that the latest GDP results confirmed that the country's economy was recovering modestly. "Looking ahead, we expect better employment and income conditions and policy measures to support the modest recovery," he said. "But we need to be mindful of downside risks from U.S. trade policies." Akazawa said the U.S. tariffs are likely to push down Japan's real GDP by 0.3-0.4%. The government last week cut its inflation-adjusted growth forecast for this fiscal year to 0.7% from the initially projected 1.2%, predicting U.S. tariffs would slow capital expenditure while persistent inflation weighs on consumption. Exports have so far avoided a major hit from U.S. tariffs as Japanese automakers, the country's biggest exporters, have mostly absorbed additional tariff costs by cutting prices in a bid to keep domestic plants running. The economic resilience, along with a U.S.-Japan trade deal struck last month, supports views the BOJ could hike interest rate later this year. However, economists expect exports will suffer in the coming months as they start passing on costs to U.S. customers. "It's possible the economy could slip into decline in the July-September quarter as exports slow," Shinichiro Kobayashi, principal economist at Mitsubishi UFJ Research and Consulting, said. "For the economy to fully pick up, private consumption holds the key. Consumption could improve towards the end of the year as inflation gradually slows and sentiment recovers," he said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fast Company
34 minutes ago
- Fast Company
Employers need help managing workers who are taking second jobs
Employers who sense rising levels of anxiety and signs of disengagement or displeasure in their workplace now have survey data to explain the sources of that unsettling vibe. But those insights also suggest managers need to address the sources of that unhappiness to avoid losing employees to companies that are already doing so. That was the main lesson in a recent study by staff recruitment, management, and payroll software company Remote. It polled '2,000 full-time, desk-based U.S. workers' about their perceptions of their workplaces. The overarching message participants sent was they're 'worried about the economy, unsure about their career future, and searching for employers they can trust.' As a result, many respondents said they're looking for greater financial and job security, and simultaneously want more input and guidance from employers—as well as increased flexibility in their work. Some of those expectations are directly linked to financial pressures many participants said they were under, as well as habits developed under pandemic-era remote working arrangements. Their own money concerns—and the increased fears about the economy's future that 80 percent of respondents expressed—led nearly 20 percent of participants to say they'd already taken on a second job or side hustle. An additional 57 percent say they're looking to do so, for the same reasons. Rising employee preoccupations with working a second job, along with their pandemic experiences of having worked from home, made flexibility a top priority for all but 11 percent of participants. About a third said their desire for fully remote employment was higher than it was a year ago, with 26 percent saying the same for hybrid. Around 60 percent of both groups said they'd take a pay cut to secure those arrangements, which tend to offer greater range in doing work and alsofacilitate juggling a side hustle. Interestingly, other replies in the Remote survey indicated that employers providing increased flexibility may help remedy another problem cited: worker complaints about insufficient communication and support. Polling data found just 17 percent of respondents said they were getting enough resources and support to feel stable and engaged on the job. Meanwhile, only 8 percent said their company regularly shares information on how the economy may impact their role or organization, with about a quarter describing those updates as 'vague.' Over a third of participants—or 35 percent—said they receive no feedback on that from bosses—but wish they did. Unexpectedly, however, 50 percent of people with hybrid arrangements and 46 percent of fully remote employees reported getting higher levels of that information and direction from managers. Meaning, with only 37 percent of in-office respondents feeling the same, 'organizations with distributed teams may lean more towards intentional, proactive communication,' analysis of the findings said. What can employers do to respond to the study's results? Its authors offered the following steps that companies might take to provide workers the 'honesty, stability, and real investment in their well-being' they need and reduce the risks of them seeking these qualities elsewhere instead. Talk about it. Regular, transparent updates help employees feel grounded. Rethink flexibility. Flexible policies have moved out of perk territory, and into the essential camp. Flexible working can be a lifeline for disengaged and anxious employees and for those with needs and responsibilities that don't fit into rigid structures. Invest in development. Clear career paths build security and loyalty. Support financial wellness. Educational resources can go a long way. Create space for dialogue. Especially when the conversations are hard. 'The findings serve as a reminder that people-first leadership isn't about guesswork, but listening, responding, and proactively creating environments where employees can maintain stability and productivity, even in uncertain times, instead,' noted Remote's chief people officer, Barbara Matthews. — By Bruce Crumley
