The unemployment rate has risen to its highest level in almost five years, with younger workers bearing the brunt of the job losses, official figures show.

The UK’s jobless rate rose to 5.1% in the three months to December, with the number of people on company payrolls down 726,000 on pre-pandemic levels.

Almost three-fifths of these were younger than 25 years.

There were, however, some early signs of stabilisation in the jobs market.

The Office for National Statistics (ONS) said there was a small increase in the numbers of employees paid through payroll over the past couple of months, with 83,000 more people on the books in January compared with the previous month.

Average pay rose, too, by 4.7% including bonuses, although this was said to be a statistical quirk rather than a sign of lasting wage growth,

Statisticians said this was partly because of the disproportionate fall in the … Read the rest

Bank of Montreal (T.BMO) hit a new 52-week high of $104.19 on Tuesday. BMO revealed first-quarter financial figures Tuesday, Net income of $2,017 million, an increase of 27%; adjusted net income was $2,038 million, an increase of 26%. Reported EPS of $3.03, an increase of 28%; adjusted EPS of $3.06, an increase of 27%.

Bank of Nova Scotia (T.BNS) hit a new 52-week high of $74.23 on Tuesday. Scotiabank reported first quarter net income of $2,398 million compared to $2,326 million in the same period last year. Diluted earnings per share (EPS) were $1.86, up 1% from $1.84 in the previous year. Return on equity was 14.2%, unchanged from the previous year.

AGF Management Limited (T.AGF.B) hit a new 52-week high of $6.90 on Tuesday. No news stories available today.

Ackroo Inc. (V.AKR) hit a new 52-week high of 28.5 cents on Tuesday. No news stories available today.

Anaconda Mining … Read the rest

Mark Carney, former head of the UK and Canadian central banks, has joined the board of US digital payments company Stripe Inc, days after the firm was reported to be planning a primary funding round valuing it at more than $100bn (£71bn).

“Regulated in multiple jurisdictions and partnering with several dozen financial institutions around the world, Stripe will benefit from Mark Carney‘s extensive experience of global financial systems and governance,” the company said on Sunday, confirming a report by the Sunday Times newspaper.

In a statement on the company’s website, Carney recognised the very nature of commerce has changed over the past decade, saying Stripe had been at the forefront of enabling the new digital economy.

“I look forward to supporting Stripe over the coming years as they build the global infrastructure that enables the internet to become the engine for strong and inclusive economic growth,” added Carney, who stepped … Read the rest

U.S. stocks fell on Monday as a continuous rise in bond yields dented the appetite for risk assets, particularly growth technology stocks.

The Dow Jones Industrials did make headway, however, grabbing 19.32 points to 31,513.69.

The S&P 500 dropped 20.84 points to 3,885.87,

The NASDAQ Composite retreated 226.19 points, or 1.6%, to 13,648.27.

Tesla shares lost 3% following a 4% decline last week. Big Tech stocks came under pressure as Apple, Amazon, Microsoft, Netflix and Alphabet all traded at least 1% lower.

All eyes will be on Federal Reserve Chairman Jerome Powell, who delivers his semi-annual testimony on the economy before the Senate Banking Committee on Tuesday. His comments on rates and inflation could determine the market direction for the week.

On Monday, European Central Bank President Christine Lagarde said in a speech that the central bank is “closely monitoring the evolution of long-term nominal bond yields.” European sovereign bonds … Read the rest

Developing a positive mindset is one of the most powerful things you can do to grow as an entrepreneur while improving all of your interactions and relationships throughout your life.

While business and marketing tactics do play a role in entrepreneurial growth, mindset tends to be the number one contributing factor in achieving success. Those who can approach entrepreneurship with a positive mindset are able to quickly develop new capabilities, build momentum, and achieve exponential results.

With 2021 under way, business owners need to be in the right mindset to capitalise on all of the opportunities that will be available to them in this new year. So here is my advice on how to get yourself into the right mindset to reach your full potential in 2021

Abundance mindset vs. scarcity mindset

Entrepreneurs typically have two predominant mindsets competing for their attention: scarcity and abundance. To put it simply, a … Read the rest

Stocks came under pressure Friday afternoon, reversing early gains.

The Dow Jones Industrials eked higher 0.98 points to 31,494.32, for a gain on the week of nearly 36 points. The blue-chip index had jumped more than 150 points earlier in the session.

The S&P 500 demurred 7.26 points to 3,906.71, for a loss on the week of 28 points.

The NASDAQ Composite added 9.11 points to 13,874.46, for a tumble on a short week of 221 points, or 1.6%.

Though the major indexes traded higher for most of the morning, a combination of rising interest rates and profit taking in some of the market’s largest technology companies appeared to dampen optimism after noon.

Cyclical stocks posted some of the strongest gains with the industrials up 1.8%, materials and financials sectors each ahead 1.6%. Utilities and consumer staples stocks were among the biggest laggards.

Applied Materials, which makes the equipment used … Read the rest