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US jobs creation surges unexpectedly in September

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US jobs creation surges unexpectedly in September

Hiring in the US surged unexpectedly last month, in a rebuttal to those worried that the economy might be headed for a sudden, sharp downturn.

Employers in the US added 254,000 jobs in September, much more than expected, while the jobless rate dipped from 4.2% to 4.1%%, the Labor Department said.

That was the strongest gain since March, and was far higher than the roughly 150,000 many analysts had forecast.

The closely watched report comes a few weeks before Americans will head to the polls in an election in which the state of the economy has been cited as a top concern.

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Jobs growth has slowed significantly since last year and the unemployment rate has been ticking higher, though it remains a historically low levels.

Last month, the US central bank cut interest rates by a bigger than usual 0.5 percentage points, saying it wanted to avoid any further weakening in the labour market.

But the strength in this month’s report could raise flags for those hoping for the Federal Reserve to continue to rapidly lower rates.

Bars and restaurants led the hiring in September.

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Meta debuts AI filmmaker in challenge to OpenAI’s Sora

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Meta is showcasing artificial intelligence models that can generate realistic videos from text instructions, which will compete with rival offerings for filmmakers and content creators from OpenAI and Runway.

Movie Gen is a suite of storytelling models that can be used for a range of tasks, such as generating videos up to 16 seconds long, video editing, matching sounds to videos and personalising video with specific images.

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The Instagram and Facebook owner plans to offer video-generation tools to the Hollywood filmmakers, artists and influencers who make content on its social networks. OpenAI announced its own video-generation model, Sora, in February, and has been showing it off to the film industry, although it has not yet been released as a product. 

While Meta released some examples of videos generated by its models on Friday, it said it did not anticipate the models being integrated into its platforms for users until next year at the earliest. 

“Right now . . . if you were using a video editing or video-generation feature in Instagram, that would probably not meet your expectations of how fast you would want something like that to be,” said Connor Hayes, vice-president of generative AI products at Meta. “But broadly speaking, you could imagine these models being really powerful for things like Reels creation, Reels editing across the family of apps, and that’s the direction that we’re looking at for where we can apply it.” Reels is Instagram’s video creation and sharing feature.

The video-generation push is part of an effort by tech companies to make tools that can be used more broadly in the entertainment industry, including advertising, as they look for ways to monetise their AI advancements. Runway, an AI video-generation start-up, signed a deal last month with entertainment company Lionsgate to train a custom model on its library of films, including Twilight and The Hunger Games.

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Meta claimed its videos surpassed its rivals, such as Sora and Runway, for “overall quality, motion, naturalness and consistency”, citing blind human evaluations.

Its models were trained on “a combination of licensed and publicly available data sets”, Meta said, but would not give further details. It has used public content from its platforms, such as Facebook and Instagram, for its AI previously.

The realistic nature of AI-generated videos — and the ability to replicate people’s likeness within them — has caused concerns from workers, including actors and production staff, as to how tools may affect their jobs in future.

“While there are many exciting use cases for these foundation models, it’s important to note that generative AI isn’t a replacement for the work of artists and animators,” Meta said, emphasising that it would continue to seek feedback from filmmakers and creators. 

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Meta said it would watermark any videos generated by the model in order to avoid copyright concerns and issues that might arise with deepfakes. “These are many of the challenges that we’re going to have to work through before we can responsibly put a product out there, and that’s also a big part of why this is purely a research announcement right now,” Hayes added. 

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Weekend Essay: Confronting our biggest fear – public speaking

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Weekend Essay: Confronting our biggest fear – public speaking

Do you remember all those awkward job interview questions?

I’m thinking of pearls such as: ‘Where do you see yourself in five years’ time?’ (Not here); ‘Why do you want to work in this industry?’ (I can’t get a job in my preferred field); and ‘Why should we hire you?’ (I desperately need the cash).

But, for me, the most annoying by far is, ‘What’s your greatest weakness?’

Of course, it’s not difficult to answer – I can reel off several weaknesses without breaking a sweat. But it can be hard to think of a weakness that doesn’t undermine your claim to the role. After all, who’s going hire someone who’s lazy, unpunctual and selfish (except maybe Donald Trump)?

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However, when grumbling about this loaded question to a friend, she surprised me by coming up with the perfect answer: public speaking.

“It’s something everyone can relate to,” she pointed out. “No one will judge you negatively for it and you can use it as an example of personal growth (i.e. I’ve sought to tackle the fear by volunteering for speaking opportunities, training courses, etc).”

If public speaking was ever a fear when I was younger, it’s one I’ve had to confront in my professional life

You can’t fault the logic, and it got me thinking: have I ever been afraid of public speaking?

As a naturally shy person, the answer must be ‘yes’. I certainly remember being very nervous if I ever had to stand up in front of a class or in school assembly. But if public speaking was ever a fear when I was younger, it’s one I’ve had to confront in my professional life.

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As a journalist, I’ve done countless speeches, presentations, panel discussions and onstage interviews. I’ve addressed rooms filled with people hanging on my every word (or at least pretending to). And I’ve had to deal with the terror of clamming up, forgetting my train of thought, making a faux pas – all in front of a packed audience.

Make no mistake, this can be a genuine terror. “Most people fear public speaking more than death,” says Dan Graham of NextGen Planners, whose Speaker & Influencer Programme has trained over 300 finance professionals to overcome this fear since its launch in 2019.

According to Graham, public speaking is a crucial and undervalued skill: “The majority of financial advisers are required to have an influence on their clients every day. By developing their message and their confidence, they can convey important ideas more succinctly.

“From those we have worked with on our programme, the increase in confidence has not only allowed them to deliver their key messages to the world, but also to come out of their shells and let their influence come to the surface.”

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The results, claims Graham, have been transformational: “New friendships have been formed, new businesses have been found, client service has improved and those doubting their careers have stayed in the profession.”

By contrast, those who lack the confidence to speak in public miss the opportunity to make these connections. “It means their great ideas are, often, not being heard,” says Graham.

Most people fear public speaking more than death

All of this has been on my mind recently, with the Money Marketing Awards having taken place last month (I did the introductory speech) and MMI London and MMI Leeds coming up soon (I’m opening proceedings and chairing panels at both).

Admittedly, I don’t know how many of my ‘great ideas’ have been shared via public speaking at events such as these. But I do know that speaking in front of people has given me a better sense of myself – how I sound to others, how I communicate and how my personality comes across.

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Stated another way, it puts my strengths and weaknesses up in lights for all to see. This can be daunting, but it’s also empowering. Becoming a better public speaker has definitely improved my one-on-one skills, which makes me a better interviewer and networker. It may even have improved my writing (although you, dear reader, can be the judge of that).

And on good days, it plays to the other side of my personality. The truth is, I’m a bit of a show off. As part of my am-dram group, in particular, I love playing to the crowd, making people laugh, feeding off an audience. Those backstage moments can be terrifying, but when it all goes well, it’s the best kind of validation and a huge confidence boost.

So, if public speaking is a step outside the comfort zone for you, don’t be afraid to take that step. In the words of the motivational speaker Rob Brown, “If you can speak, you can influence. If you can influence, you can change lives.”

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Dubai travel warning: How the Israel-Hamas war is affecting UAE flights

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Airlines including Emirates have cancelled and diverted flights

AMID the chaos of the escalating conflict in the Middle East, several flights to and from Dubai have been cancelled or delayed.

Here we take a look at whether it is safe to travel to the area, which airlines are affected and how flight paths have changed so far.

Airlines including Emirates have cancelled and diverted flights

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Airlines including Emirates have cancelled and diverted flightsCredit: Mark Ferguson

Are flights going to and from Dubai?

Flights are still operating to and from Dubai, but with significant disruptions due to the spiralling regional tensions.

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Dubai International Airport, the world’s busiest for international travel, is experiencing cancellations and delays.

Airlines cancelling and diverting flights

Several major airlines have been affected:

  • Emirates cancelled all flights to and from Iraq, Iran and Jordan between Wednesday, October 2, 2024 and Saturday, October 5.
  • Flydubai has also cancelled flights to these destinations.
  • Emirates has suspended routes to and from Beirut until Tuesday, October 8, while Flydubai has suspended them until Monday, October 7.
  • British Airways, Lufthansa and Swiss Air have diverted flights headed to Dubai and other Middle Eastern destinations.
  • Etihad Airways is rerouting flights and warning of likely delays and cancellations.

Safety of travelling to Dubai

The UK Foreign, Commonwealth and Development Office (FCDO) does not advise against travel to the United Arab Emirates (UAE), including Dubai.

However, they recommend staying vigilant, stating: “Terrorists are likely to try to carry out attacks in the UAE”.

The FCDO further advises: “Ongoing hostilities between Israel and Lebanon could escalate quickly and pose risks for the wider region. Monitor this travel advice and other media as the situation is changing fast”.

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They also note that “Military activity in the Red Sea area” poses a security risk, with the “possibility that Travel Advice for nearby countries could change at short notice”.

Changes in flight paths

Flight paths changed significantly on Tuesday, October 1, 2024. Here are the diversions which were put in place:

  • Many flights avoided airspace over Iran, Israel, Jordan, Iraq and Lebanon.
  • Airlines diverted flights through alternative routes, which led to longer flight times.
  • Traffic became dense over Istanbul, Cairo, and Antalya as flights rerouted to avoid certain areas.
  • Some flights took wide arcs to the north and south to avoid affected airspace.
  • These diversions added several hours to flight times.

According to FlightRadar, 81 flights were diverted by 16 airlines on October 1, when Iran launched its attack on Israel.

Some flights in and out of Dubai have been suspended

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Some flights in and out of Dubai have been suspended

Additional travel advice

Visitors should remember to respect local laws when travelling in the UAE.

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The FCDO advises: “Take care when walking or travelling alone, and use a reputable taxi company, particularly if you are female, and at night. Do not accept lifts from strangers”.

Travellers should also be aware that UAE airports have strict security measures for detecting illegal items, including in transit passengers’ baggage.

Even residual trace amounts of illegal drugs can lead to arrest and imprisonment.

Those flying within the region are strongly advised to check with their airlines for the most up-to-date information and to be prepared for potential last-minute changes or extended delays.

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In British politics, the centre no longer holds

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As an anthropological study of the political tribes, I found this year’s UK party conferences intriguing. Labour, urban and blokeish, are bizarrely miserable despite being in power. The Tories, shambling and earnest, are weirdly upbeat, relieved to be out of office. The unexpectedly large number of young men and women in Birmingham was perhaps testament to the fact that politics is exciting when you have a chance to change it. 

With four candidates vying to lead the Conservatives, a common argument — put forcefully by former West Midlands mayor Andy Street — is that the party needs to find the centre ground. But where is it? In an age of polarisation and identity politics, does it even exist?

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The idea that parties win from the centre dominated postwar political thinking. Bill Clinton extolled the “vital centre”, a phrase coined by Arthur Schlesinger in 1948 to describe a middle way between fascism and communism. Tony Blair’s Third Way ideology was a muscular version of what Harold Macmillan, in his 1938 book The Middle Way, described as a means of blocking off the “extremes” of collectivism, on the one hand, and laissez-faire individualism on the other. 

Centrism, on these definitions, is moderate and pragmatic. It sits midway between two extremes — and political strategists expend a great deal of energy working out how to split the difference. The assumption is that the majority of voters sit in the “centre”. But what if they don’t? 

Some interesting analysis of 2020 polling data by Matteo Tiratelli, of University College London, challenges the idea that most Britons hold moderate political opinions on most issues. When asked whether the government should try to make incomes equal, for example, as many people agree very strongly as put themselves in the middle; with almost as large a group disagreeing completely. 

It’s also possible that commentators mistake where the centre is. Many prominent people who describe themselves as “centrist” are, broadly speaking, Remainers who care about the environment, believe that business and immigration are generally a force for good, are socially liberal and want government to play a positive role in the world through aid and diplomacy.  

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They assume that a majority of voters are like them. But what if they’re wrong? What if many voters think those people have been shoring up the status quo in their own interests — with cheap money making the rich richer, the costs of the green transition loaded on to energy bills, tech companies selling misery and mass immigration putting intolerable strain on public services? 

The 2008 financial crash shook faith in free markets. And widespread discontent showed up in 2016, in the US election of Donald Trump and the UK’s vote for Brexit. A new gulf was revealed between voters with and without university degrees. Were people who voted for Trump and Brexit victims of disinformation, misled by populists? Or did their material circumstances lead them to issue a riposte to those who conflated their own world view with the virtuous centre?

Moderate centrism has lost its energy. Political dynamism now lies with angry, single-issue movements like Just Stop Oil. In this summer’s general election, the combined share of the vote for Britain’s two main political parties, both run by moderate technocrats, was the lowest in our era. Offered a wider range of options, the electorate gave significant backing to Reform UK and the Greens. The fact that Reform UK came second to Labour in so many seats suggests that the desire for drastic immigration control is not “rightwing”, but mainstream — just as concerns about the environment may no longer be “leftwing”. 

If centrism means anything, it must mean decency, respect for facts and pluralism. These are the lifeblood of democracy, and worth fighting for. In 2022, Sir Keir Starmer claimed that Labour was “now firmly in the centre ground of British politics”. He also asserted that this was “not a place of mushy compromise”. Centrism don’t have to feel soggy, but it has to be more than technocracy.

Where does this leave the Conservatives? David Cameron’s leadership-winning conference speech in Blackpool 19 years ago was remarkable not because he delivered it without notes but because he looked like the future. He challenged his party to be “comfortable with modern Britain” and to believe that the “best days lie ahead”. Those words still resonate today. 

None of the current candidates to lead the Tories is in Cameron’s league. But the job of whoever wins is not to run the country — it is to reestablish trust in the Conservatives as decent and competent. If that is even possible, it can only be done with humour and optimism, not with anger. I also don’t see how it can be achieved by anyone who served in Boris Johnson’s cabinet, which rules out James Cleverly and Robert Jenrick.

The current debate within the Conservative party is between those who think elections are won in a virtuous centre and those, like the late Keith Joseph, architect of Thatcherism, who once derided the middle ground as the lowest common denominator. Joseph preferred what he called “the common ground”: a place which better reflected people’s real values and aspirations. This does not have to mean the Liz Truss “moron premium”. It does mean Conservatives working out what they are in politics for. That would be a good start.

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camilla.cavendish@ft.com

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Major update for nearly 1million energy customers as meters set to go ‘dumb’

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Major update for nearly 1million energy customers as meters set to go 'dumb’

MORE than 800,000 households will have their energy meters replaced before the RTS network is switched off next summer.

Economy 7 and other multi-rate energy tariffs use these meters, which charge users different rates depending on the time of day.

More than 800,000 households could be affected by the RTS network switch-off

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More than 800,000 households could be affected by the RTS network switch-offCredit: Getty

These devices are operated through the Radio Teleswitch Service (RTS), which broadcasts a signal alongside the long-wave channel for BBC Radio 4.

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This service is being turned off on June 30 2025 after the deadline was extended following coverage by The Sun last year.

The switch-off could lead to huge bill hikes for customers as they are no longer able to access cheaper energy rates.

Some homes, businesses and schools could even be left without heating or hot water.

Others may be unable to turn off their heating.

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The only way to avoid facing these issues is for affected households to switch to a smart meter.

Customers who swap to a smart meter will still be able to access multi-rate energy tariffs including Economy 7.

What has been agreed?

Energy suppliers, Government and consumer groups have now pledged to work together to replace RTS meters before the switch off.

The ten energy companies who have signed up are British Gas, EDF, E.On, Octopus, Ovo, Scottish Power, So Energy, SSE, Total Energies, Utilita and Utility Warehouse.

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Industry regulator Ofgem, trade association Energy UK, Distribution Network Operators, Smart Energy GB, Government and consumer groups will also be involved.

How to take a meter reading

Through their Call To Action, the industry has pledged to:

  • Focus their resources on regional “hot spots” where there are the most RTS customers
  • Fast track RTS customers for meter upgrades
  • Prioritise upgrades for customers who are known to be vulnerable
  • Tackle any technical problems by sharing their knowledge and expertise
  • Provide monthly updates on how many meters have been replaced
  • Consider if further action is needed

The pledge will also speed up the rate at which RTS meters are replaced.

At the current pace, it would take until 2028 for all of the RTS meters across the UK to be upgraded.

How do I know if I have an RTS meter?

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YOU’LL be able to tell if you have a meter that relies on the RTS quite easily.

The oldest RTS-powered meters have a switch box labelled “Radio Teleswitch” located next to the physical electricity meter.

Others may the RTS switch box included within the electricity meter as a single box on the wall.

If you’re unsure about the type of electricity meter in your home – call your supplier as they’ll usually have this information on hand.

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What does it mean for me?

Customers who have an RTS meter, or those who are not sure if they have one, should contact their energy supplier for advice.

The supplier should then be able to make an appointment for an engineer to visit their home and check.

Energy companies have been contacting customers about the switch-off since 2023.

But under the new plans suppliers will contact all RTS customers by December 31 2024 to let them know that RTS will be shut down.

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Households will also be told why it is important that their service is upgraded and they will be offered an appointment to have their meter upgraded.

It usually takes around two hours for an RTS meter to be upgraded but some cases may need more than one visit by an engineer.

Many properties with RTS meters are in rural areas or on islands.

What are the benefits of installing a smart meter?

Getting a smart meter does not cost anything as your supplier will install it for free.

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Customers affected by the RTS switch-off will also not be charged.

Smart meters send readings to your energy supplier automatically, which means you do not need to do this yourself.

They can make your bills more accurate too as they are based on readings from your actual usage, rather than estimates.

The devices can help to track how much energy you use at night, during the day and at peak times.

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You will be given an in-home display, which connects to your meter and shows your energy usage and the cost in pounds and pence.

Customers with RTS electricity meters that swap to a smart meter will still be able to access flexible electricity tariffs if they opt for one.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

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‘Let’s be more normal’ – and rival Tory strategies

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Who’s up and who’s down in the Tory leadership race after the four-day beauty parade at the party’s conference in Birmingham? Host Lucy Fisher and Political Fix regulars George Parker and Stephen Bush assess the four contenders’ performances, as Conservative MPs prepare to whittle down the field to two next week. The panel are also joined by the FT’s public policy editor Peter Foster to discuss Sir Keir Starmer’s first step on the road to resetting UK-EU relations. Plus, the group discusses the latest twist in freebiegate.

Follow Lucy on X: @LOS_Fisher; George on X @GeorgeWParker, Stephen @stephenkb and Peter @pmdfoster

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Presented by Lucy Fisher. Produced by Clare Williamson. The executive producer is Manuela Saragosa. Audio mix and original music by Breen Turner. The FT’s head of audio is Cheryl Brumley.

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