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Wage growth weakens despite employment surge

Wage growth weakens despite employment surge

Business
Wage growth weakened to 2.8% in the three months to April though there was a strong increase in the number of people in work, official figures show. The data from the Office for National Statistics (ONS) shows pay is still increasing more quickly than inflation.But the pace of regular wage growth - excluding bonuses - has slipped back after reaching 2.9% in the previous month's set of figures - which was the best increase since 2015.It could further douse expectations of an interest rate hike this summer - already dampened by indications of sluggish economic growth after a first quarter in which the UK slowed to a near standstill.But there was a better than expected increase in the number of people in work, by 146,000 to 32.39 million, while unemployment fell by 38,000 to 1...
G7 commits to 'rules-based trading system' despite tensions with US

G7 commits to 'rules-based trading system' despite tensions with US

World
Media playback is unsupported on your device All the G7 nations have agreed at their summit in Canada on the importance of a "rules-based trading system", despite tensions with the US.The joint statement signed by US President Donald Trump and his counterparts comes amid a row over high US tariffs imposed this month on steel and aluminium imports.The EU and Canada have taken steps to retaliate.Mr Trump says tariffs are needed to reverse America's trade deficit.Soon after the joint statement was announced, the US president tweeted defiantly about not allowing "other countries to impose massive tariffs and trade barriers on its on farmers, workers and companies".The G7 summit, held in La Malbaie, Quebec province, also covered such issues as rel...
NBA Finals: Warriors beat Cavaliers in Game 1, despite LeBron effort

NBA Finals: Warriors beat Cavaliers in Game 1, despite LeBron effort

Sports
June 1 (UPI) -- The Golden State Warriors held off the Cleveland Cavaliers 124-114 in Game 1 of the 2018 NBA Finals. Golden State pulled off the victory despite LeBron James netting 51 points -- his most ever in a playoff game -- Thursday at Oracle Arena in Oakland. Stephen Curry led the Warriors with 29 points. Kevin Durant scored 26 points in the victory. The Cavaliers failed to steal a rare road triumph in the series, fumbling away a chance to win the game in the final seconds of regulation. Cavaliers guard George Hill made the first of two free throw attempts, tying the game at 107-107 with four seconds remaining. J.R. Smith pulled down the rebound of Hill's miss and had a chance to attempt a game-winner, but dribbled out the clock instead. He ended up throwing the ball back to Hill,...
German-Russian pipeline takes shape despite US protests

German-Russian pipeline takes shape despite US protests

Technology
Sparks fly and machines whir as workers busily prepare thousands of steel pipes that will become part of a vast undersea pipeline bringing gas from Russia to Germany's northeastern Baltic coast. The Nord Stream 2 project will double the amount of natural gas Russia can funnel directly to the heart of Europe from newly tapped reserves in Siberia, intentionally skirting Eastern European nations like Poland and Ukraine. It also promises much-needed jobs in this poor German backwater, some three hours' drive north of Berlin. The United States and some other German allies have bristled at the project, warning that it could give Moscow greater leverage over Western Europe. Energy-poor Germany already relies heavily on Russian gas and so far Chancellor Angela Merkel has deftly kept the new $ 11...
Iran nuclear deal not dead despite US exit, France says

Iran nuclear deal not dead despite US exit, France says

World
Media playback is unsupported on your deviceFrance's Foreign Minister Jean-Yves Le Drian says the Iranian nuclear deal is "not dead" despite US President Donald Trump's decision to withdraw.The 2015 agreement curbed Iran's nuclear activities in return for the lifting of sanctions that had been imposed by the UN, US and EU.But Mr Trump argued that the deal was "defective at its core", saying he would pull out and reimpose sanctions.Other signatories to the nuclear accord say they remain committed to it.The deal was agreed between Iran and the five permanent members of the UN Security Council - the US, UK, France, China and Russia - plus Germany. It was struck under Mr Trump's predecessor, Barack Obama.Iran said it would try to salvage the agreement, but would restart uranium enrichment if i...