Bunge persuades Brazil judge to move Imcopa plant auction; buys time to prepare bid

Record US jobs growth persisted in November with end of GM strike

The US added 266,000 new jobs in November boosted by the return to work of striking auto workers.

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Economists had expected job growth to 187,000 in November, up from 128,000 in October and boosted by the return to work of 48,000 GM workers following a 40-day strike.

Manufacturing employment rose by 54,000 in November, following a decline of 43,000 in the prior month. Healthcare added 45,000 jobs.

The impressive headline growth rate was compounded by upward revisions for earlier months. The labor department revised October’s jobs growth to 156,000, up from 128,000 originally and September’s was revised up to 193,000 from 180,000.

There had been some fears that the US’s record streak of jobs growth was coming to an end.

Friday’s report follows a lackluster survey of private sector hiring. On Wednesday ADP, the US’s largest payroll provider, said the US has added just 67,000 new jobs in November. Economists had been expecting a number closer to 156,000. Some 6000 jobs were lost in both Manufacturing and construction.

Mark Zandi, chief economist of Moody’s Analytics, said the job market was “losing its shine”.

“Manufacturers, commodity producers, and retailers are shedding jobs. Job openings are declining and if job growth slows any further unemployment will increase,” he said.

Teenager pleads guilty to attempted murder of French boy at London gallery

LONDON (AFP) – A British teenager on Friday (Dec 6) pleaded guilty to the attempted murder of a six-year-old French boy, who was thrown from the 10th floor viewing platform at London’s Tate Modern art gallery.

Jonty Bravery, 18, from west London admitted the charge during a brief hearing at the Central Criminal Court.

The young boy suffered serious injuries in the incident on Aug 4.

U.S. wholesale inventories increase 0.1% in October

WASHINGTON (MarketWatch) – Wholesale inventories in the U.S. rose 0.1% in October, partly recovering from a sharp decline in September. Sales fell 0.7% in the month, however. As a result, the ratio of inventories to sales edged up to 1.37 from 1.36. That’s how many months it would take to sell all the inventory on hand. One year ago, the inventory-to-sales ratio was lower at 1.3%. The decline in inventories in September, meanwhile, was revised to 0.7% from 0.4%. Increase in inventories add to gross domestic product while decreases subtract from GDP.

U.S. looking into 1MDB settlement with Goldman of less than $2 billion: Bloomberg TV

WASHINGTON (Reuters) – The United States is discussing a settlement with Goldman Sachs over the 1MDB investment fund scandal for less than $2 billion, Bloomberg TV reported on Friday.

Bank of Canada Governor Stephen Poloz to step down when term ends next year

  • Poloz, who is in the final year of a seven-year term, will not seek a reappointment and a process to select the next governor has begun, the bank's board of directors said in a statement.
  • The front-runner in the race to take his place could become the first woman to head the country's central bank.

Bank of Canada Governor Stephen Poloz will step down when his mandate expires next June, the bank said on Friday, and the front-runner in the race to take his place could become the first woman to head the country's central bank.

Many economists and market strategists surveyed by Reuters this week said Senior Deputy Governor Carolyn Wilkins could be his successor.

Poloz, who is in the final year of a seven-year term, will not seek a reappointment and a process to select the next governor has begun, the bank's board of directors said in a statement.

The board of directors oversees the selection process of a new governor, but the finance minister and the prime minister have the final say.

Poloz said that during his tenure the bank had "created the conditions for steady economic growth, low unemployment, and inflation close to target through very challenging times," according to the statement.

Unlike some of its global peers, Canada's inflation rate is near the central bank's 2% target. The Bank of Canada has held its overnight interest rate steady since October 2018, even as several of its counterparts, including the U.S. Federal Reserve, have eased.

U.S. looking into 1MDB settlement with Goldman of less than $2 billion: Bloomberg TV

WASHINGTON (Reuters) – The United States is discussing a settlement with Goldman Sachs over the 1MDB investment fund scandal for less than $2 billion, Bloomberg TV reported on Friday.

Bunge persuades Brazil judge to move Imcopa plant auction; buys time to prepare bid

SAO PAULO, Dec 6 (Reuters) – A Brazilian bankruptcy judge postponed the auction of two soy crushing plants after U.S-based grain trader Bunge alleged the seller provided “scarce and incomplete” information about the assets, according to court filings seen by Reuters on Friday.

The sale of the two plants by privately owned Imcopa group was scheduled for Dec. 4 and is part of the seller’s plan to emerge from bankruptcy. The auction is now scheduled for Feb. 17. (Reporting by Ana Mano Editing by Chizu Nomiyama)