U.S. businesses added 230,000 jobs in October
U.S. companies added 230,000 jobs in October, a private survey said, the most in four months and a sign that businesses are still willing to hire despite signs of slowing growth overseas.
Payroll processer ADP said Wednesday that the job gains were slightly ahead of the 225,000 added in September, which was revised up from an initial estimate of 213,000. Job gains above 200,000 are usually enough to lower the unemployment rate.
The data indicates that steady growth in the past six months has encouraged businesses to step up hiring. That could lead to a healthy job gain in Friday’s government report on jobs and unemployment. The ADP numbers cover only private businesses and sometimes diverge from the government’s more comprehensive report, which includes government agencies.
Audi recalls cars over issue with front air bags
Audi is recalling nearly 102,000 luxury cars in the U.S. because the front air bags may not inflate in a crash.
The recall covers certain A4 and S4 cars from the 2013 through 2015 model years, plus the 2013 through 2015 Audi allroad.
Audi says that it is part of a wider global recall that the company announced last week covering about 850,000 vehicles.
Time Warner profit beats third-quarter estimates
Time Warner Inc. beat analysts’ profit estimates as fees received for its TV channels rose, lending support to Chief Executive Officer Jeff Bewkes’ argument that the company is better off without a merger.
Third-quarter profit, excluding restructuring costs and a one-time tax benefit, was 97 cents a share, the company said Wednesday. Analysts predicted 94 cents on average. Sales rose 3.3 percent to $6.24 billion.
Bewkes has said that his growth plan for an independent Time Warner will create more value than Rupert Murdoch’s $85-a-share buyout offer, which was rejected and then withdrawn in August. After years of spinning off assets to shrink Time Warner down to its cable networks, HBO and the Warner Bros. studio, Bewkes is now aggressively cutting costs and pushing the company’s content online.
– From news service reports
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