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How full employment became Washington’s creed

elean
1 minute

WASHINGTON • As incoming US President Joe Biden takes office today, his administration and the Federal Reserve are pointed towards a singular economic goal: Get the job market in the United States back to where it was before the pandemic hit. The humming labour backdrop that existed 11 months ago - with 3.5 per cent unemployment, stable or rising workforce participation and steadily climbing wages - turned out to be a recipe for lifting all boats, creating economic opportunities for long-disenfranchised groups and lowering poverty rates. And price gains remained manageable and even a touch on the low side. That contrasts with efforts to push the labour market's limits in the 1960s, which are widely blamed for laying the groundwork for runaway inflation. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Orchard Towers murder: Man who threw away bloodstained shirt jailed for five months

aseanpr
4 minutes

SINGAPORE - A 27-year-old man linked to the 2019 Orchard Towers murder was sentenced to five months' jail on Friday (Jan 15) for disposing of a bloodstained T-shirt worn by the alleged killer. Loo Boon Chong was also fined $1,000 for a separate gambling-related offence. He was among a group of seven originally charged with the murder of Mr Satheesh Noel Gobidass, 31. Loo's murder charge was later reclassified to that of consorting with 29-year-old Tan Seng Yang, who was carrying a foldable karambit knife in the incident on July 2, 2019. The weapon is a curved blade resembling a claw. Loo had earlier pleaded guilty to one charge of obstructing justice by disposing of a bloodstained T-shirt worn by Tan, who is the only member of the group still facing a murder charge. He had also admitted to an offence related to a separate incident in February last year, where he gambled over a game of dice in a public place. Loo and his six friends had patronised Naughty Girl Club on the second floor of the shopping mall in the wee hours of July 2, 2019. While in the club, they got into a dispute with another group. The ensuing fight, which Loo tried to stop, saw Tan injure a security officer and a...

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Jail for tennis coach who performed sexual acts on underage male student

aseanpr
1 minute

SINGAPORE - A tennis coach was jailed on Friday (Dec 18) for kissing his underage male student and performing sexual acts on him. The prosecution told a district court that Phoo Siang Qing had abused the trust placed in him and performed such acts on the boy who was just 15 years old at the time. The 40-year-old Singaporean was sentenced to two years and nine months' jail for committing the offences in 2013 and 2014. He had pleaded guilty to two charges under the Children and Young Persons Act and one count of sexual penetration involving the minor. Defence lawyer Peter Fernando had pleaded for his client to be given 16 months' jail, stressing that Phoo is "sincerely repentant". Mr Fernando also told Senior District Judge Ong Hian Sun that Phoo had found that he was not attracted to women and has a history of "severe depression". The lawyer added that Phoo has sought treatment and is compliant with his medication. More on this topic Related Story Veteran coach gets 21 months' jail for molesting teen athlete Related Story Courts & Crime: Read more stories

SeaPRwire
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US stocks end best week in months with muted session

elean
1 minute

NEW YORK (AFP) - Wall Street stocks finished their best week in months with a muted session on Friday (Nov 6) as Joe Biden inched closer to victory in the still-unresolved presidential election. The broad-based S&P 500 finished at 3,509.44, down less than 0.1 per cent for the session, but up 7.3 per cent for the week, its best since April. The Dow Jones Industrial Average shed 0.2 per cent to 28,323.40, while the tech-rich Nasdaq Composite Index added 0.4 percent at 13,254.32.