BERLIN—Self-charging hybrid cars, which operate on both an internal combustion engine and a battery, outsold diesel cars in Europe for the first time in 2021, albeit by just 48 vehicles, data showed on Wednesday. One in 11 cars sold were battery-electric, the data from the European Automobile Manufacturers’ Association showed, totaling just under 880,000 vehicles….
Self-Charging Hybrids Outsell Diesel in Europe for First Time: ACEA
Restaurant Industry Predicts High Food, Labor Costs Throughout the Year
The National Restaurant Association has released its annual State of the Restaurant Industry report, giving a broad assessment of trends in the restaurant industry and making numerous predictions for the near future. The new report, released on Feb. 1, predicts slower growth in the industry in 2022, while describing many of the challenges faced by…
US Private Sector Employment Falls by 301,000 Jobs: ADP
Payroll processor ADP said in its closely-watched jobs report that America’s private employers not only failed to add any jobs in January but payrolls actually dropped by over 300,000 that month, teeing up what could be a disappointing jobs report when official government statistics are released later in the week. Private-sector employment in the United…
FDA Issues Warning on 2 Recalled COVID-19 Tests
The U.S. Food and Drug Administration (FDA) issued a warning about two COVID-19 tests made by Empowered Diagnostics because the tests aren’t approved by the FDA, even though the tests’ labels indicate that they are. Empowered Diagnostics makes the CovClear COVID-19 Rapid Antigen and ImmunoPass COVID-19 Neutralizing Antibody Rapid tests. Both tests have been recalled by Empowered…
Starbucks Raises Prices as Inflation Eats Into Profits
February 2, 2022
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Starbucks said it will continue to raise menu prices because of inflationary pressures and persistent supply chain disruptions that have resulted in manufacturers across industries being unable to receive raw materials on time. “[We have] already taken pricing actions this fiscal year, one in October 2021 and another in January 2022. And we have additional…
Small Craft Breweries Scramble to Adapt to Aluminum Can Shortages
February 2, 2022
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“In heaven there is no beer. That’s why we drink it here,” goes the old pub song, but an aluminum beverage container shortage could threaten to close the spigots on smaller craft beer breweries in 2022. Described as a worsening can shortage—or “candemic”—many microbrewery owners have been struggling to adapt either by stocking up on…
Exxon Posts Biggest Profit in 7 Years on High Oil Prices
February 2, 2022
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HOUSTON—Exxon Mobil Corp. on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices. The company slashed spending after fuel demand cratered two years ago. Since then, earnings have topped pre-pandemic levels, helped by the rise in oil prices, with the…
Home Depot Stepping up Spring Hiring to 100,000 Workers
Home Depot Inc. said on Tuesday it would hire more than 100,000 workers across its stores and warehouses, as the retailer gears up for its key spring selling season when demand for home-improvement products is at its peak. The company has typically hired around 80,000 workers for spring over the past several years. The spring…
US Manufacturing Growth Slows in January, While Employment Numbers Improve
February 2, 2022
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U.S. manufacturing activity growth continued to slow in the month of January, said the Institute for Supply Management in a report on Feb. 1. January saw manufacturing activity fall to a 14-month low amid an outbreak of Omicron cases at the start of the year. ISM did mark, however, the third straight month of improvements…
75 Percent of Americans Give Negative Assessment of Economy
A new poll by ABC News and Ipsos indicates that 75 percent of Americans have a negative assessment of the economy, as the nation struggles with ongoing supply chain disruptions, labor shortages, inflation, and an uncertain future for the stock market. The poll, which asked respondents to “describe the state of the nation’s economy these…
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