TODAY'S BUSINESS HEADLINES

Finance chief takes Court of Appeals to task for blocking Phoenix smuggling case

For 2nd time, DOTC pushes back timetable for Cebu BRT project

PSEi returns above 7,300-mark

Belle looks beyond gaming, eyes M&As to attain conglomerate status by next year

PNB, Eton Properties lift Lucio Tan holding firm's 1Q profit

Business job growth disappoints in US

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WASHINGTON - US business added a meager 119,000 jobs in April, payrolls firm ADP reported Wednesday, lending credence to fears that the labor market has hit a soft patch.

Expectations had been for a rise of around 170,000.

The figures are seen as a harbinger of official unemployment and job-growth statistics, which will be released on Friday.

Both figures are eagerly awaited. Investors, policymakers and ordinary Americans have been confounded by a string of uneven data, and are looking for some definitive sign about the direction of the recovery.

This is likely to be seen as a confirmation of things heading in the wrong direction.

"This report was clearly disappointing," said Thomas Julien an economist for Natixis.

March's disappointing ADP report, showing 209,000 jobs were created, was revised down to 201,000.

 

 

 

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