11:14
Pentagon chief urges "close consultation" between Israel and US on Syria
U.S. Defense Secretary Austin stresses close U.S.-Israel coordination on Syria, supporting peaceful, inclusive political transition.
U.S. small-business confidence soars post-election as optimism jumps
Reuters
U.S. small-business confidence surged to its highest level in nearly 3-1/2 years in November, buoyed by post-election optimism. The National Federation of Independent Business (NFIB) reported on Tuesday that its Small Business Optimism Index jumped by 8.0 points to 101.7 last month, the highest since June 2021. Donald Trump’s victory in the presidential race and his Republican Party’s control of the U.S. Congress in the recent elections were expected to boost confidence among small business owners, who traditionally lean Republican. Other sentiment surveys, including the University of Michigan’s, have also seen improvements in the aftermath of the November 5 election, albeit divided along party lines.
The proportion of small business owners expecting the economy to improve surged by 41 points to 36%, the largest increase since June 2020. The number saying now is a good time to expand their business reached levels last seen nearly 3-1/2 years ago. More businesses anticipated higher sales growth, while the share of those naming inflation as their main concern fell.
The survey’s uncertainty index dropped by 12 points from a record high of 110 in October. Labor remains tight in small businesses, especially in sectors like transportation, construction, and professional services. The proportion of businesses planning to hire more workers increased by 3 points to 18%, the highest in a year. Around 32% of owners reported raising compensation, up one point from October. The share planning to increase pay over the next three months jumped 5 points to 28%, the highest level this year. About 28% planned price hikes, up 2 points from October.
"Wage hikes are essential to maintaining current employment levels and helping to fill vacancies," said Bill Dunkelberg, the chief economist at the NFIB.
11:11
Time magazine to name Trump "Person of the Year"
Donald Trump to ring NYSE's opening bell Thursday as he is reportedly named Time's "Person of the Year" for the second time.
10:04
Malibu wildfire destroys homes, forces 6,300 people to evacuate
Firefighters in Malibu are containing the Franklin Fire, which has burned 4,000 acres, destroyed homes, and forced 6,300 residents, including actor Dick Van Dyke, to evacuate.
09:37
Taiwan officials visit US for quiet talks with Trump's circle, say sources
Taiwanese officials meet Trump transition team members amid tensions with China, seeking stronger U.S.-Taiwan ties as Beijing increases military activity near Taiwan Strait.
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