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Challenger US April Layoff Intentions Rise From March, Led by Technology Sector

Outplacement firm Challenger, Gray & Christmas said Thursday that companies planned to cut 83,387 jobs in April, up from 60,620 in March but below the 105,441 level at the same time a year earlier.The largest layoff count in April was in the technology sector, which accounted for 33,361 of those intentions, with increased use of artificial intelligence with the most cited reason for layoffs."Technology companies continue to announce large-scale cuts and are leading all industries in layoff announcements," said Andrew Challenger, the company's chief revenue officer. "They are also often citing AI spend and innovation. Regardless of whether individual jobs are being replaced by AI, the money for those roles is."There were 10,049 hiring plans announced in April, down from the 32,826 hiring plans in March and from 16,191 a year ago.

International2d ago

Challenger US April Layoff Intentions 83,387 Vs. Prior 60,620; 105,441 Year-Ago

International2d ago

Singapore's Forex Reserves Climb Over SG$544 Billion in April

Singapore's foreign exchange reserves rose to SG$544.1 billion in April from SG$541.7 billion in March, according to preliminary data from the Monetary Authority of Singapore released Thursday.The city-state logged a month-on-month increase in gold and foreign exchange to about SG$534.0 billion from about SG$531.6 billion.The International Monetary Fund reserve position increased to over SG$1.86 billion during the month from SG$1.80 billion in the preceding month, the data showed. Special drawing rights, however, fell to SG$8.24 billion from about SG$8.30 billion.In US dollar terms, total foreign exchange reserves jumped to nearly $427.3 billion from $419.9 billion in March, according to the latest update.

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International2d ago

Eurozone Monthly Retail Sales Down 0.1% in March

The euro area's retail sales fell 0.1% month over month in March, following a revised 0.3% decline in February, according to Eurostat data published Thursday.Analysts expected a 0.3% dip for the month.On a yearly basis, the eurozone's retail sales increased by 1.2%, against the revised 1.3% growth earlier and the expected 1% decrease.

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International2d ago

S&P: UK's Construction PMI Falls in April Amid Elevated Cost Inflation

Britain's construction sector remained in a downturn in April, as residential and civil engineering activity levels continued to decline, amid rising input cost inflation, S&P Global said Thursday.The S&P Global UK Construction PMI came in at 39.7, lower than 45.6 in the previous month and the consensus estimate from Investing.com of 45.8.The latest reading marks the weakest level in five months as elevated business uncertainty persisted due to the conflict in the Middle East.

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International2d ago

Market Chatter: China's Corporate Profits Decline for Third Straight Year in 2025

Net profit of 5,400 listed Chinese nonfinancial firms fell 2% to 2.54 trillion yuan in 2025, marking the third consecutive annual decline, Nikkei Asia reported Thursday.Loss-making companies surged to 1,458, or 27% of the total, nearly 100 more than the previous record in 2024, according to the report. By comparison, only 2% of Tokyo's prime market-listed companies are unprofitable.Real estate developer China Vanke's (HKG:2202, SHE:000002) net loss widened 80% to 88.5 billion yuan. Of 108 property developers, 59 posted losses, Nikkei Asia wrote.Retailers also struggled as weak housing markets dampened consumer sentiment, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International2d ago

Germany's Construction PMI Hits 13-Month Low in April

Germany's construction activity deteriorated at the sharpest pace in over a year in April, led by the housing sector, as the war in the Middle East caused delivery delays, higher input cost inflation, and weaker demand, S&P Global said Thursday.The S&P Global Germany Construction PMI Total Activity slumped to a 13-month low of 42.1 from 48 in March.

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International2d ago

Italian Construction PMI Falls to Lowest Level Since August 2022

Italy's overall construction activity remained in contraction territory in April 2026, amid a sharp decline in building activity and the fastest decline in new orders since August 2024, S&P Global said Thursday.The S&P Global Italy Construction PMI came in at 44.8, down from 46.8 a month ago. The reading marked the index's lowest record in over three and a half years.

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International2d ago

PMI: Eurozone Construction Sector Contraction Worsens in April

Contraction in the euro area's construction sector intensified in April due to rising inflation and weak demand, extending the sequence of monthly decline in total activity to four years, S&P Global said Thursday.The S&P Global Eurozone Construction PMI Total Activity Index dropped to 41.7 from 44.6 in March, signaling an accelerated deterioration in construction activity that was the most marked for 20 months.

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International2d ago

French Construction PMI Slips Deeper into Contraction in April

France's construction sector tumbled deeper into the contraction zone in April 2026, as new orders sank to their lowest level since May 2020 and activity levels dropped at a rapid rate.The S&P Global France Construction PMI Total Activity Index dropped to 38.1 from 38.4 in March, S&P Global said Thursday.

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International2d ago

Tourism, Family Visits Drive China's May Day Holiday Trips

China logged a 3.5% increase to a record 1.52 billion inter-regional passenger trips during the five-day May Day holiday, driven by strong tourism and family visit demand, according to the Ministry of Transport.Road travel climbed 3.5% to 1.39 billion trips. Railway trips rose 4.6% to 106.4 million.Waterway trips declined 1.4% to 8.5 million, while civil aviation declined 5.7% to 10.5 million trips.

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International2d ago

China's Overseas Visitor Payments Surge 45% During May Day Holiday

Overseas visitor payment transactions in China jumped 45% year on year during the five-day May Day holiday, with total value rising 37%, according to the People's Bank of China.Foreign nationals' border crossings reached 1.3 million, up 13%. This included 436,000 visa-free entries, a 15% increase.China UnionPay and NetsUnion processed 28.9 billion transactions totaling 7.85 trillion yuan, respectively rising 23% and 2.7%.

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International2d ago

Bank Negara Malaysia Keeps Interest Rate Unchanged at 2.75%

Malaysia's central bank kept the Overnight Policy Rate (OPR) at 2.75%, in line with market expectations, according to a Thursday news release.The central bank said global growth stayed resilient in early 2026, supported by strong domestic demand and continued expansion in the technology sector. However, higher energy and commodity prices, along with supply chain disruptions linked to Middle East tensions, are starting to weigh on momentum.For Malaysia, growth indicators point to steady expansion in the first quarter, driven by domestic demand and strong exports.Headline and core inflation averaged 1.6% and 2.1% in the first quarter, respectively. While cost pressures from higher global commodities may push prices slightly higher, inflation is expected to remain contained in 2026, supported by policy measures and stable demand conditions, the central bank said.

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International2d ago

Swiss Jobless Rate Inches Down to 3% in April

Switzerland's unemployment rate stood at 3% in April, down from 3.1% in the previous month, according to data from the State Secretariat for Economic Affairs published Thursday.At the end of April, 142,902 individuals were registered as unemployed, down by 3,353 from a month ago.

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International2d ago

China's May Day Holiday Consumption Up 14%

China's consumption-related industries saw sales revenue jump 14% year on year during the May Day holiday, according to the State Taxation Administration.Tourism and entertainment services rose 21%, while cultural services climbed 42% and sports services surged 44%.Health services jumped 40%, with health consultation services up 41%. Catering revenue rose 31%, driven by bars and teahouses at 52% and snack services at 42%.

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International2d ago

Swiss Foreign Currency Reserves Fall in April

Switzerland's foreign currency reserves decreased to 715.73 billion francs in April from the revised 721 billion francs in March, data from the Swiss National Bank (SNBN.SW) showed Thursday.Official reserve assets, excluding gold holdings, totaled 727.55 billion francs, down from the revised 732.92 billion francs earlier.

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International2d ago

French Trade Deficit Widens in March

France's trade deficit increased to 6.86 billion euros in March from the revised 5.51 billion euros in February, according to government data published Thursday.Analysts expected a 5.6 billion-euro trade deficit for the month.Exports stood at 52.46 billion euros, compared with a revised 51.95 billion euros earlier, while imports rose to 59.32 billion euros from the revised 57.46 billion euros.

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International2d ago

French Current Account Deficit Falls in March

France recorded a current account deficit of 1.2 billion euros in March, down from the revised 1.5 billion euros in February, the Bank of France said Thursday.In the 12 months to March, France's current account deficit totaled 8.2 billion euros, compared with the deficit of 2.6 billion euros a year earlier.

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International2d ago

Correction: Value of Australian New Payments Platform Transactions Rises 26% in March, RBA Data Shows

(Corrects to reflect the reference month in the headline, added percentage rise)The value of new payment platform transactions in Australia rose nearly 26% to AU$241.2 billion in March, compared with AU$186.6 billion reported in the same period last year, according to new retail payment figures from the Reserve Bank released Thursday.Total card purchases on Australian-issued cards were up 11.6% to AU$100.8 billion from AU$91 billion in March 2025, with credit and charge cards accounting for AU$40.9 billion and debit cards for AU$59.9 billion.Meanwhile, the number of new payment platform transactions was up 11.2% to 167.1 million from 151.9 million last year.The number of total card purchases on Australian-issued cards rose 6.6% to 1.41 billion from 1.34 billion in the year prior.

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International2d ago

OECD Says New Zealand Should Stop Frequent Changes to RBNZ Mandate

The Organisation for Economic Cooperation and Development (OECD) said New Zealand should reconsider how frequently it adjusts the Reserve Bank of New Zealand's remit, as frequent changes raise the risk of monetary policy mistakes, according to a Thursday report published by the organization.The central bank's remit is set by New Zealand's Minister of Finance and covers its operational objectives, including the target inflation range.The OECD said there have been frequent changes to the monetary policy mandate and remit since 2019, and that maintaining stability outside scheduled five-year review cycles would support the bank's credibility and enhance its ability to deliver on its inflation objectives.The organization recommended reinforcing the RBNZ's operational independence and credibility, noting that maintaining stability for the full five-year cycle until the 2028 review would support predictability, credibility, and confidence in the monetary policy regime.

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