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Westend61 | Westend61 | Getty Images Despite increasing fears about a recession, many job seekers still plan to quit their current positions, a survey from The Conference Board found. Some 31% said they were actively looking for a new job, and another 28% were unsure if they'd leave their company in the next six months. Only 38% said they'd like to stick with their current employer. The organization polled more than 1,100 U.S. adults, predominantly professional/office workers, from June 21 to 28. Yet, a separate survey by staffing-services company Insight Global found that 78% of employees are worried about losing their jobs if there is a recession. In addition, 87% of managers indicated they would likely lay off employees if there was a recession, according to the survey, which was condu...

NEW YORK :The U.S. dollar shrugged off early weakness to edge higher against a basket of currencies on Friday, after data showed U.S. business activity shrank for the first time in nearly two years in July as a services slowdown outweighed manufacturing growth. S&P Global on Friday said its preliminary - or "flash" - U.S. Composite PMI Output Index had tumbled far more than expected to 47.5 this month from a final reading of 52.3 in June. With a reading below 50 indicating business activity had contracted, it is a development likely to feed into a vocal debate over whether the U.S. economy is back in - or near - a recession after rebounding sharply from the downturn in early 2020 at the start of the COVID-19 pandemic. The dollar found some support from safe-haven flows late on Friday, a...

Coinbase reported a 27% decline in revenues in the first quarter as usage of the platform dipped. Coinbase said it had no counterparty exposure to several collapsed crypto firms, seeking to allay fears about the impact of a liquidity crisis in the industry on its business. Coinbase "had no financing exposure" to Celsius, Three Arrows Capital and Voyager Digital, the company said in a blog post Wednesday. Each firm filed for bankruptcy protection after a plunge in digital token prices set off a cascade of liquidations in highly leveraged positions. Shares of the company closed up more than 14% on Wednesday. "Many of these firms were overleveraged with short-term liabilities mismatched against longer duration illiquid assets," the company said. "We have not engaged in these types of ris...

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ENGAGING WITH THE NUG Progress in negotiations will also "in some way" pave the way for Cambodia to open a dialogue with the NUG, Mr Sokhonn said. "But I have to say that we have heard many voices calling for engagement with the NUG. Not only from outside, but also among colleagues, ASEAN ministers, ASEAN foreign ministers. I have (especially) a very vocal voice from our colleague from Malaysia," Mr Sokhonn said, referring to Malaysia's foreign minister Saifuddin Abdullah. "He has openly stated that he has engaged with the NUG. We have to recognise that countries are sovereign. They have their sovereign rights to engage with whomever they want. Whomever they consider for their best interests, for their own national interests," he added. The NUG's foreign minister, Zin Mar Aung, met wit...

TOKYO :U.S. Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki agreed on Tuesday to work together to tackle rising prices of food and energy, as well as volatility in currency markets, exacerbated by Russia's war in Ukraine. They said the war had raised exchange rate volatility, which could pose adverse implications for economic and financial stability, and pledged to cooperate "as appropriate" on currency issues. "We will continue to consult closely on exchange markets and cooperate as appropriate on currency issues, in line with our G7 and G20 commitments," the two sides said in a joint statement after the meeting, referring to the Group of Seven and Group of 20 economies. Later on Tuesday, Yellen acknowledged the yen's substantial depreciation in recent wee...

SINGAPORE : Having bucked a global dash to tighten monetary policy for a year, Asian central banks find themselves scrambling to catch up in order to tackle rising inflation and defend weakening currencies. Market analysts suspect Indonesia, the last remaining dove in emerging Asia, may be the next to move by pushing interest rates higher on Thursday, as policymakers rush to convince investors they are tackling rising prices. Singapore and the Philippines surprised markets with unscheduled tightening announcements last week, underlining the growing urgency among policymakers to act. Asia has lagged as the rest of the world, including emerging markets, began lifting rates as early as last June, after the U.S. Federal Reserve kicked off an accelerated timeline for its policy tightening. ...

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. Subscribe to the Select Newsletter! Our best selections in your inbox. Shopping recommendations that help upgrade your life, delivered weekly. Sign-up here. Why high-score borrowers spent the most on loans to finance home improvements and business expenses One obvious reason why high-score borrowers spent the most to finance home improvements and business expenses may just be that remodeling a home or funding a business typically requires large amounts of capital, and therefore large loans. But beyond just that fact, high-score borrowers spe...

LUVERNE, Alabama: A subsidiary of Hyundai Motor Co has used child labor at a plant that supplies parts for the Korean carmaker's assembly line in nearby Montgomery, Alabama, according to area police, the family of three underage workers, and eight former and current employees of the factory. Underage workers, in some cases as young as 12, have recently worked at a metal stamping plant operated by SMART Alabama LLC, these people said. SMART, listed by Hyundai in corporate filings as a majority-owned unit, supplies parts for some of the most popular cars and SUVs built by the automaker in Montgomery, its flagship U.S. assembly plant. Hyundai didn't respond to phone calls or emails from Reuters seeking comment. SMART, in a statement, said it follows federal, state and local laws and "denie...

BEIJING : China is rolling out a quota system to limit exports of phosphates, a key fertiliser ingredient, in the second half of this year, analysts said, citing information from the country's major phosphate producers. The quotas, set well below year-ago export levels, would expand China's intervention in the market to keep a lid on domestic prices and protect food security while global fertiliser prices are hovering near record highs. Last October, China also moved to curb exports by introducing a new requirement for inspection certificates to ship fertiliser and related materials, contributing to tight global supply. Fertiliser prices have been buoyed by sanctions on major producers Belarus and Russia, while surging grain prices are boosting demand for phosphate and other crop nutrie...