Business
US jobs market weakens further in August
The US jobs market weakened further in August, raising new fears about the health of the world’s largest economy.
Employers added just 22,000 jobs last month, fewer than expected, while the unemployment rate ticked up from 4.2% to 4.3%, according to the Labor Department.
The figures cap a string of shaky data this week on the job market and add to the concerns that spiked last month, when the Labor Department said hiring in May and June had been far weaker than it had initially estimated.
On Friday, the department said its latest estimates showed the US actually lost jobs in June, the first such decline since 2020.
Investors, who had already been betting that the US central bank would respond to the weakening labour market with a cut to interest rates at its meeting this month, said that move was now all but certain.
“The warning bell that rang in the labour market a month ago just got louder,” said Olu Sonola, head of US economic research for Fitch Ratings.
US President Donald Trump responded to the signs of slowdown in August by firing the head of the Bureau of Labor Statistics, accusing her, without evidence, of rigging the numbers to make him look bad.
But analysts say the troubles in the job market are partly due to the president’s sweeping changes to tariff and immigration policy, which economists have consistently warned would hurt the economy, by raising costs and uncertainty for firms.
His administration has also cut government spending, firing thousands of government workers.
The Labor Department said the federal government shed 15,000 positions last month. Manufacturing and construction firms also reported payroll declines, offsetting gains in health care.
“Four straight months of manufacturing job losses stand out,” Mr Sonola said. “It’s hard to argue that tariff uncertainty isn’t a key driver of this weakness.”
The number of jobs created each month has been slowing steadily since the boom that followed the reopening from the pandemic.
But analysts have said the economy only needs to create about 50,000 jobs each month to keep up with population growth – far fewer than it once did – as Trump’s crackdown on immigration prompts the stream of new workers that entered the US in recent years to dry up.
Stock markets opened slightly higher following the report, which also showed average hourly pay rising 3.7% over the past year.
In the global bond markets, the rates that investors demand for borrowing dropped sharply, reversing a surge earlier in the week, as confidence grew in a Fed rate cut.
“The initial reaction suggests markets are focused on Fed rate cuts rather than concerns about a cooling economy,” said Ellen Zentner, chief economic Strategist for Morgan Stanley Wealth Management.
“Bad news looks like good news, at least this morning.”
Speaking to broadcaster CNBC, White House economic adviser Kevin Hasset conceded that the August jobs numbers were “disappointing” but said he expected revisions in future months would present a better picture.
Other White House officials pinned the blame on the Federal Reserve and its chairman, Jerome Powell, saying the bank had been too slow to lower interest rates.
“President Trump is implementing the most aggressive pro-growth agenda in our country’s history, but this agenda continues to be held back by Jerome ‘Too Late’ Powell’s foolish refusal to admit that President Trump is right about everything,” White House press secretary Karoline Leavitt said in a statement.
Earlier this week, the government reported that job openings had fallen to the lowest level since 2024, while job seekers outnumbered the posts for the first time since the pandemic.
Claims for unemployment payments also ticked up this week, while Friday’s report put the unemployment rate at the highest level since October 2021, although it is still not far from historic lows.
Netflix has significantly increased its all-cash offer to acquire Warner Bros Discovery’s studio and streaming business, intensifying an ongoing takeover battle with rival Paramount Skydance.
The revised bid aims to secure Warner Bros’ extensive film and television library, alongside its premium HBO Max streaming service, in a move that could reshape the entertainment landscape.
In December, Netflix agreed to pay $23.25 in cash, $4.50 (£3.35) worth of Netflix stock per share to buy Warner Bros assets.
The deal valued the business at around $82.7bn (£61.5 bn). However, shares in Netflix have dropped by almost 15 per cent since the deal was first announced.
The US-based streaming giant has said it will now offer $27.75 (£20.64) per share in cash to buy the business, which will include Warner Bros’ extensive library of film and TV rights, as well as its HBO Max streaming service.
Analysts have said the new terms are favourable for investors in Warner Bros Discovery.
Despite the improved financial terms, Warner Bros Discovery continues to back Netflix over a competing bid from Paramount Skydance.
The rival studios and media giant had put forward an offer of $30 per share in cash, but crucially, this was for the entire Warner Bros Discovery company, rather than just its studio and streaming divisions, highlighting a key difference in the acquisition strategies.
David Zaslav, president and chief executive of Warner Bros Discovery, expressed his enthusiasm for the impending merger.
He stated: “Today’s revised merger agreement brings us even closer to combining two of the greatest storytelling companies in the world and with it even more people enjoying the entertainment they love to watch the most. By coming together with Netflix, we will combine the stories Warner Bros has told that have captured the world’s attention for more than a century and ensure audiences continue to enjoy them for generations to come.”
Greg Peters, Netflix’s co-chief executive, underscored the strategic and financial benefits of the amended agreement.
He commented: “By amending our agreement today, we are underscoring what we have believed all along: not only does our transaction provide superior stockholder value, it is also fundamentally pro-consumer, pro-innovation, pro-creator and pro-growth. Our revised all-cash agreement demonstrates our commitment to the transaction with Warner Bros and provides WBD stockholders with an accelerated process and the financial certainty of cash consideration, while maintaining our commitment to a healthy balance sheet and our solid investment grade ratings.”
The agreed deal is contingent on Warner Bros Discovery completing a proposed spin-off of its cable channels, which include CNN, TBS, and TNT Sports in the UK.
Last Updated:
India’s Index of Eight Core Industries rose 3.7 percent in December 2025, led by cement and steel growth, while oil and gas output declined.
Infrastructure-Linked Sectors Push Core Index Higher in December
India’s core industrial sectors showed stronger momentum in December 2025, with the Index of Eight Core Industries (ICI) rising 3.7 per cent year-on-year, according to provisional government data. This marks an improvement from November’s final growth rate of 2.1 per cent, signalling a mild recovery in key production segments.
The eight core industries together account for 40.27 per cent of the weight of the Index of Industrial Production (IIP), making them a crucial indicator of overall industrial health.
Cement, Steel Lead the Growth
Cement and steel emerged as the strongest performers in December. Cement production jumped 13.5 per cent, reflecting steady demand from infrastructure and construction activity. Steel output also remained robust, rising 6.9 per cent during the month.
Electricity generation increased by 5.3 per cent, pointing to sustained power demand from industry and households. Fertilizer production grew 4.1 per cent, offering support to the agricultural sector, while coal output rose 3.6 per cent, helping ease supply pressures.
Oil and Gas Remain a Weak Spot
In contrast, the oil and gas segments continued to struggle. Crude oil production declined by 5.6 per cent, while natural gas output fell 4.4 per cent in December compared to the same month last year. Petroleum refinery production also slipped 1.0 per cent, highlighting ongoing operational and supply-side challenges in the energy sector.
Cumulative Growth Still Modest
For the April–December 2025-26 period, the cumulative growth of the core industries stood at 2.6 per cent, slightly muted despite strong gains in cement and steel. Steel recorded a sharp 9.5 per cent cumulative growth, while cement rose 8.8 per cent.
However, coal, crude oil, and natural gas saw cumulative declines, which weighed on the overall index.
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January 20, 2026, 18:31 IST
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Kevin PeacheyCost of living correspondent
Getty ImagesUK toy sales have risen for the first time in five years, but sellers are braced for the potential impact of any social media ban for under-16s.
The value of toy sales rose by 6% last year, compared with the previous year, according to research company Circana, bringing some much-needed cheer for a sector that has struggled since the pandemic.
The rebound has been driven by the so-called kidult market – which relates to players over the age of 12, some of whom are influenced by trends on social media.
But experts gathered at the annual Toy Fair in London on Tuesday said that films, video games and playground chat could still help push further growth in 2026.
Cost of living pressures have loomed over families in recent years, although spending on children – particularly at Christmas – has remained a priority for many.
Covid lockdowns brought a boost to the sector when toys and games became central to keeping children and adults entertained at home.
Sales dipped since then, until last year when the number of toys sold rose by 1% compared with 2024, according to Circana.
With kidults spending more, the value of sales rose by 6% – the first increase since 2020, according to Circana. It valued the UK market at £3.9bn last year.
Melissa Symonds, executive director of UK toys at Circana, described last year as a “clear turning point” for the sector.
Cinema, streaming, video game and sport tie-ins – such as Minecraft and Formula 1 – all proved successful.
Symonds said that excluding the unusual circumstances of the pandemic, last year recorded the first organic growth since 2016.
Social media trends
Kidults accounted for 17% of the toy market in 2016, but this had risen to 30% by last year.
Building sets, predominantly Lego, has appealed to adults, but trends amplified on social media have also led to a 12% growth in collectibles across generations. Pokémon, K-Pop Demon Hunters, and Hello Kitty have all proved to be “market-moving trends”, according to Circana.
Symonds said the industry would be considering the impact of the social media ban for under-16s in Australia, and the potential for a similar ban in the UK.
She said manufacturers and retailers may need to reconsider how some of these toys were marketed if bans were brought in more widely.
Kerri Atherton, from the British Toy and Hobby Association – which is hosting its annual trade fair at London’s Olympia, said it was still too early to know what the fallout would be.
She described 2025 as a pivotal moment for the UK toy sector, but said businesses and consumers still faced financial challenges going into 2026.
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