Todays jobless report

Share to Twitter Share to Linkedin In the early part of my career, I vividly recall first learning about what was then arguably the most important document that an upstream company produced – the reserve report. Full of pertinent information, the reserve report struck at the heart of an oil and gas company’s economic relevance. The now discontinued, Oil and Gas Financial Journal , once described reserves as “a measurable value of a company’s worth and a basic measure of its life span.” Thus, understanding the fair market value of a company’s Proven Developed Producing (PDP), Proven Developed Non-Producing (PDNP), and Proven Undeveloped (PUD) reserves was key to understanding the fair market value of the company. Investors and analysts looked to the reserve report before reviewing the financials sometimes. Not these days. Consigned to back pages, footnotes, and appendices, the reserve report’s relevance has waned. Current investor presentations of … [Read more...] about Have Reserve Reports Been Relegated To Investor Footnotes?

Share to Twitter Share to Linkedin The Government Accountability Office (GAO) was asked to report on trends in IRS audit rates, audit results, and resources used for audits across individual taxpayer income levels. Their report, issued this week, analyzed audit rates and results and IRS resources used by taxpayer income for the most recent years data was available. According to the report, “In recent years, IRS has examined, or audited, a decreasing proportion of individual tax returns. This trend has raised concerns about the potential for declining taxpayer compliance, as well as whether IRS is equitably selecting taxpayers for audit, as audit rates for higher-income taxpayers have decreased more than audit rates for lower-income taxpayers.” On May 18, 2022 IRS Chief Taxpayer Experience Officer, Ken Corbin, and the GAO Director of Strategic Issues, James McTigue, appeared before the House Ways and Means Oversight Subcommittee (Bill Pascrell, D-NJ, chair) … [Read more...] about GAO Report Highlights Fairness Issues In IRS Audit Rates

A patient suffering from COVID-19 (Image: Reuters) India reported 3,805 new coronavirus infections in a day, pushing the number of active cases of the disease in the country to 20,303 and the overall tally to 4,30,98,743, according to Union Health Ministry data updated on Saturday. The data released at 8 am also showed that 22 fatalities — 20 of them from Kerala alone — were reported in a 24-hour period, taking the cumulative death toll to 5,24,024. The active cases now constitute 0.05 per cent of the total infections, the health ministry said, adding that the country's COVID-19 recovery rate is at 98.74 per cent. The daily positivity rate was recorded at 0.78 per cent and the weekly positivity rate at 0.79 per cent, the ministry said. A total of 84.03 crore Covid tests have been conducted so far, including 4,87,544 a day ago. An increase of 615 cases has been recorded in the active COVID-19 caseload, which now stands at 20,303. The number of people who have recuperated … [Read more...] about India reports 3,805 fresh COVID-19 cases, 22 fatalities in last 24 hours

Share to Twitter Share to Linkedin Topline As markets fend off one of the worst sell-offs in nearly two years, new jobless claims posted an unexpected increase for the third straight week on Thursday, according to data released by the Labor Department, a potential indication that broader economic troubles could start spelling trouble for the hot labor market. Key Facts About 218,000 people filed initial jobless claims in the week ending May 14, up 21,000 from the previous week, according to the weekly data released Thursday. Economists were only expecting about 200,000 initial claims, according to Bloomberg; new weekly claims hit a pandemic low of 166,000 in late March. Despite the spate of unexpected increases, the job market ”remains a source of strength in an economy riddled with worries about inflation, higher interest rates and more," says Bankrate analyst Ted Rossman, noting that continuing unemployment claims have fallen to the … [Read more...] about Jobless Claims Keep Rising Unexpectedly—Experts Worry Stock Market Crash Could Have Spillover Effects On Economy

Russia continues its military buildup at the Ukrainian border, NATO said , disputing Russia's claims that it's removing troops. The rally in U.S. stocks stopped, with major indexes slipping after yesterday's surges. Economists will be mining the minutes from the January FOMC meeting—due later today from the Fed—for clues as to how aggressive the central bank will act in its efforts to curb inflation. Key Takeaways Russia continues adding troops at the border, NATO said, disputing Russia's claims that it is removing troops. The rally in U.S. stocks halted, while oil climbed. Stock declines came despite stronger-than-expected January retail sales. Stocks surged yesterday, snapping a three-day losing streak, on indications tensions between Russia and Ukraine were easing. The Dow rose 1.2%, while the S&P 500 gained 1.6%, and the Nasdaq shot up 2.5%. Later today, the Federal Reserve will release minutes from its January policy meeting . Investors will look for … [Read more...] about NATO Disputes Russian Withdrawals, an Alarming Yield Curve, and More Moving Today’s Market

Stocks are falling after hiring in January blew past expectations, raising concerns that the Federal Reserve will lift interest rates aggressively to prevent the economy from overheating. The U.S. added 467,000 jobs last month, the Labor Department reported today. That crushed economists' expectations for 150,000 hires, driving stocks lower despite Amazon.com, Inc. ( AMZN ) gaining after a solid earnings report . Key Takeaways Stocks are falling for a second day after January hiring crushed expectations and raised concerns that the Federal Reserve will lift interest rates aggressively. Amazon is gaining around 10% and Snap more than 40% after reporting solid earnings growth. The yield on the 10-year Treasury note jumped past 1.9%, its highest in more than a year. Crude oil soared past $90 per barrel. The Dow Jones Industrial Average , S&P 500 , and Nasdaq indexes are all lower, following big declines in each yesterday. Crude oil soared past $90 per … [Read more...] about Stocks Drop as Blowout Jobs Report Increases Rate-Hike Jitters

Black box data on crashed China Eastern 737 suggests possible “intentional nosedive” Investigators are now examining further if the crash of China Eastern Airlines 737-800 on March 21 was indeed due to “intentional action on the flight deck”. The early reports say that there is, so far, no evidence of a technical malfunction. The Wall Street Journal reported this week that flight data from one of the two “black boxes” on the Boeing jet indicated that “someone in the cockpit intentionally crashed the plane”. The comments were made by people the WSJ cited as “familiar with the preliminary assessment by US officials”. US National Transportation Safety Board officials have been working with engineers from Boeing and investigators from the Civil Aviation Administration of China since the crash. Boeing, the US manufacturer of the jet, has so far declined to comment on the early leaks and, instead, referred all questions to the Chinese regulators. At this stage, the CAAC, … [Read more...] about Thailand News Today | Crashed China eastern flight possible “intentional nosedive”

Today News Africa White House correspondent Simon Ateba hit back at the White House Correspondents Association (WHCA) threatening to suspend or expel him for interrupting Friday’s White House press briefing. Ateba derailed White House press secretary Jen Psaki’s last briefing as he talked over two reporters, including Associated Press reporter Zeke Miller. After one of the reporters confronted the Today Africa News reporter, Psaki stepped in and ordered him to respect the fellow White House reporters. White House Correspondents Association President and CBS News Radio White House correspondent Steven Portnoy addressed Ateba’s interruptions in a Monday email obtained by the Daily Caller threatening to enact their right to suspend him from the briefing room. “Your disruptive behavior at last Friday’s briefing interrupted your colleagues and reflected poorly on the press corps,” he said. “There is no right of any reporter to be called on by any official. Preventing your … [Read more...] about ‘It’s Disgusting’: Reporter Hits Back After WHCA Threatens To Expel Him For Interrupting Psaki’s Last Briefing

Thailand’s deputy health minister is hoping to see an end to Covid-19 by the end of this year, despite the risk of new variants. Satit Pitutecha made his prediction yesterday, saying Thailand is proceeding with its plan to declare the virus endemic. The World Health Organisation has yet to make any recommendation on according the virus endemic status. Satit says the health ministry is doing everything possible to meet its target for administering booster doses, which should help prevent new variants from developing. However, officials are closely watching what’s happening in North Korea, where there is a surge in infections, which could cause the virus to further mutate, creating yet another new variant. Satit says the pandemic sparked a total change in behaviour among the public, in relation to attending large gatherings, eating out, and traveling. The deputy health minister says remaining safe from Covid-19 requires the public to adopt the VUCA measures of … [Read more...] about Thailand News Today | Thailand to target “wealthy foreign tourists”

- A + A KUALA LUMPUR (May 21): A Russian lawmaker has claimed that the US researched Ebola and smallpox viruses in Ukraine. Russian news outlet TASS reported on Friday (May 20) that co-chair of the Russian Parliamentary Commission on Investigation of US Biological Laboratories, Irina Yarovaya, said the commission presented an analysis of which pathogens the US was particularly interested in in Ukraine. "Aside from the pathogens that are territorially bound to Ukraine, [the laboratories] researched viruses and pathogens that are endemically very far from Ukraine, such as Ebola and smallpox." According to Yarovaya, the information obtained indicates "aggressive goal-setting that underpins the foundation of these programmes, de facto implemented by the US Department of Defence on Ukrainian soil". She said that Russian Foreign Intelligence Service (SVR) director Sergey Naryshkin spoke as the main expert at Friday’s commission meeting. "I would like to underscore … [Read more...] about Report: Russian lawmaker claims US researched Ebola and smallpox viruses in Ukraine