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Tag: surges

S. Korea unemployment surges to 17-year-high after minimum wage hike

S. Korea unemployment surges to 17-year-high after minimum wage hike

World
SEOUL, April 11 (UPI) -- South Korea's unemployment rate rose to a 17-year-high in March, after the country raised its minimum wage by the highest increase in 17 years in January.Statistics Korea on Wednesday announced the number of unemployed Koreans hit 1.25 million last month, recording a 4.5 percent unemployment rate, and marking the third straight month that the number of jobless people topped the one million mark.The situation was considerably worse for young people, aged between 15 and 29, with youth unemployment hitting 11.6 percent, a two-year high for that month.The number of employed people last month stood at 26.6 million, up 112,000 from a year earlier. It marked the second straight month of growth confined to the 100,000 range.Experts say the sluggish growth in jobs is likely...
Travelport surges 17% after Paul Singer's hedge fund reportedly in talks to get financing for bid

Travelport surges 17% after Paul Singer's hedge fund reportedly in talks to get financing for bid

Finance
Shares of Travelport Worldwide soared 17 percent on Monday after a report said activist hedge fund Elliott Associates is in talks to make a bid for the company. Reuters reported that Elliott, the New York-based hedge fund founded by Paul Singer, has held talks with banks about financing a potential bid for Travelport. The report, citing sources, comes after Elliott said in a regulatory filing it owns 11.8 percent of Travelport's outstanding shares. The hedge fund also said in the filing it would talk to Travelport about exploring a potential sale.The news sent Travelport's stock surging to its biggest one-day gain ever. Matthew Broome, an analyst at Cowen, said Elliott's involvement could bring further gains to the stock."Activist interest in TVPT is understandable, given its positioning, ...
US job growth surges in February

US job growth surges in February

Business
Job creation in the US economy surged last month, but the annual rate of wage growth slowed.The economy created 313,000 jobs in February, official figures show, far in excess of analysts' expectations.However, the unemployment rate remained at 4.1%, while the annual earnings growth rate slowed to 2.6% last month.January's annual wage growth rate - which had triggered fears over inflationary pressures - was also revised down from 2.9% to 2.8%.The strong wage growth figure for January prompted sharp volatility on the stock market, as investors worried the US Federal Reserve would quicken the pace at which it increased interest rates.'Firing on all cylinders'Despite a lower-than-expected wage increase in February, many economists said longer term trends still point to higher wages.The US econ...
Ripple surges 89% in single day, briefly becomes third biggest digital currency

Ripple surges 89% in single day, briefly becomes third biggest digital currency

Finance
Ripple is vying with bitcoin cash to be the third-largest cryptocurrency by market value.Ripple, or XRP, surged 89 percent Thursday to a record high of 89.2 cents and was last trading near 81 cents, giving it a market value of $ 31.6 billion, according to CoinMarketCap.Those gains temporarily pushed ripple's market value past that of bitcoin's offshoot bitcoin cash, and into third place just behind the largest digital currencies, bitcoin and ethereum, according to CoinMarketCap. The website showed bitcoin cash had regained third place by late Thursday afternoon, with a market value of $ 32.1 billion. Ripple surpassed the market value of litecoin on Wednesday after starting the week in fifth place by cryptocurrency market capitalization, according to CoinMarketCap. Ripple seven-day performa...
Hurricane Irma churns toward Florida as state braces for storm surges up to 15 feet

Hurricane Irma churns toward Florida as state braces for storm surges up to 15 feet

Health
Hurricane Irma, the most powerful Atlantic storm in a decade, hit Cuba overnight as a rare Category 5 storm before being downgraded to a Category 3 Saturday morning. It is expected to strengthen again as it heads toward Florida. As of about 3 p.m. Saturday, Irma was 140 miles southeast of Key West with winds of 125 mph. It was moving west at 9 mph and is expected to turn north and head up the western coast of Florida, making landfall on Sunday. "This is a life-threatening situation," Florida Gov. Rick Scott said Saturday. "Our state has never seen anything like it." The governor stressed the dangers of what he called a "deadly, deadly, deadly storm surge." ABC News meteorologists are forecasting storm surges of 10 feet in Tampa and Sarasota, and 10 to 15 feet from Fort Myers to Naples...