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On August 26, Ukraine reported that its armed forces attacked a large oil refinery in Russias Volga region. This is the latest in a series of attacks by Ukraine on Russias oil refining industry. The General Staff of the Ukrainian Armed Forces issued a statement saying that the attack caused a fire at the refinery near Nizhny Novgorod. The statement also said, "Operations against key enemy targets are ongoing." The Norsi refinery, with a designed capacity of approximately 340,000 barrels per day, is one of Russias largest refineries. Located about 440 kilometers from Moscow, it primarily supplies fuel to the Russian capital and surrounding areas, which is also Russias largest fuel-consuming region.German Interior Minister: We want to develop genuine intelligence services, and those who attack us must be prepared to retaliate.On August 26, a severe flash flood struck Rasuwa district in Bagmati province, northern Nepal, inundating villages, markets, and infrastructure. According to data released by the Nepal Tourism Board on the 26th, preliminary statistics indicate that the flood has caused at least 16 deaths and left 384 tourists missing, including 93 Nepalese tourists and the remainder foreign tourists. Currently, the main preliminary explanation offered by scientists for the sudden event is that an ice avalanche blocked the Runde River, forming a temporary dam that suddenly collapsed after water accumulated. However, the specific cause still requires further investigation. Due to damage to some roads, bridges, communication and power facilities, coupled with still high water levels in the mountains, the full extent of casualties and property damage caused by this major disaster is yet to be determined. Saloni Muralka, a Nepalese national, said, "From what we understand, this flash flood in the China-Nepal border region may be the largest in decades. We have been told that the flood may be related to the melting of high-altitude glaciers."German Finance Minister: Income tax reform will be proposed at the next cabinet meeting.German Finance Minister: After a year, €50 billion of the €500 billion special budget has been allocated.

S&P 500, NASDAQ Pressured by Fed Rate Hike Fears Amid Hot US Labor Market

Cory Russell

Jan 06, 2023 14:38

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The main U.S. stock indexes are set to start Thursday's trading day down after a closely watched private sector employment data revealed further evidence of a robust labor market, igniting concerns that the Federal Reserve would continue raising interest rates for longer than anticipated.


The Dow Jones Industrial Average is at 32872.70 at 14:42 GMT, down 397.07 points or -1.19%. The NASDAQ Composite is trading at 10309.03, down 149.73 or -1.43%, while the S&P 500 Index is at 3807.02, down 45.25 or -1.17%.


ADP claims that in December, private payroll growth increased by 235,000.


Private payroll growth in the United States exceeded expectations in December, showing that there is still a significant demand for workers despite rising interest rates.


According to the ADP National Employment report released on Thursday, private employment climbed by 235,000 jobs in the last month. Unrevised data for November showed 127,000 new jobs gained. Reuters questioned economists, who predicted a 150,000 increase in private employment.


US Weekly Jobless Claims Reach Three-Month Low; December Saw Fewer Layoffs

Layoffs decreased 43% in December while the number of Americans submitting new unemployment benefit claims plummeted to a three-month low last week, indicating a strong job market that may need more interest rate increases from the Federal Reserve.


The Labor Department said on Thursday that initial applications for state unemployment benefits dropped 19,000 to a seasonally adjusted 204,000 for the week ending December 31, the lowest level since late September. 225,000 claims were predicted by economists surveyed by Reuters for the most recent week.

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