Brian Cornell, the CEO of Target, spoke about the company’s plans for the 2021 holiday season in an exclusive Dec. 15 interview with The Associated Press. Cornell was optimistic after reports showed sales continuing to stay strong during the final stretch of the holiday season amid some worries about the new omicron variant. Target, one of the country’s…
Economic Challenges Persist for Millions in US Recovery
The top headline numbers suggest that the U.S. economic recovery is humming along, but underlying issues throughout the economy have a growing number of economists and market analysts concerned. On the surface, jobs, consumer spending, and the gross domestic product are improving. However, once you begin to scratch underneath that surface, there are plenty of…
UK Inflation Hits Decade High, Pressuring Bank of England
LONDON—Consumer prices in the United Kingdom are rising at their highest rate in over a decade as a result of soaring energy costs and blockages in the supply chain, official figures showed Wednesday, a day before a highly anticipated interest rate decision from the Bank of England. The Office for National Statistics found that inflation…
World Shares Mixed Ahead of Fed Policy Statement
December 15, 2021
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BANGKOK—World shares were mixed Wednesday as traders awaited the outcome of the last Federal Reserve meeting of this year. Benchmarks rose in Paris, Tokyo, and Frankfurt but fell in Hong Kong and Shanghai after the U.S. Labor Department reported wholesale prices jumped a record 9.6 percent in November from a year earlier. Fed policymakers end…
Asian Shares Shed Gains Ahead of Fed Policy Statement
December 15, 2021
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BANGKOK—Stocks were mostly lower in Asia on Wednesday after new U.S. data showed inflation is still running high, putting a spotlight on what action the Federal Reserve will take as it holds its last meeting of the year. Tokyo’s Nikkei 225 index edged 0.1 percent higher to 28,459.72 and the Kospi in Seoul was nearly…
Fidelity, Morgan Stanley Prepare for Continued COVID-19 Concerns
BOSTON/NEW YORK—Asset management firm Fidelity Investments on Monday said it had paused some voluntary return-to-office plans while Morgan Stanley’s CEO said he expects COVID-19 to be an issue through the next year, in a further sign that America’s financial industry is rethinking its return to “business as usual.” U.S. financial firms have been more proactive…
US Court Rejects Bid to Block United Airlines COVID-19 Vaccine Mandate
December 14, 2021
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A federal court panel turned down a bid to block United Airlines COVID-19 vaccine mandate, though one judge said he would have blocked the vaccination requirements. Three judges on the 5th U.S. Circuit Court of Appeals considered a request by six United workers to halt the enforcement of the mandate, which has the company force workers…
Kroger Ending COVID-19 Sick Leave Benefits for Unvaccinated Workers, Adding Health Surcharge
December 14, 2021
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Kroger is ending certain benefits for unvaccinated workers in order to compel its workforce to take a COVID-19 vaccine. Unvaccinated workers will no longer be eligible to receive up to two weeks of paid emergency sick leave if they get sick with COVID-19 variants. Kroger, the country’s largest grocery chain, employs almost 500,000 employees who interact…
Pfizer Says COVID-19 Antiviral Drug Shows 89% Efficacy, Potential Against Omicron
December 14, 2021
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Pfizer’s experimental COVID-19 antiviral treatment is able to reduce the risk of hospitalization or death from the CCP (Chinese Communist Party) virus by 89 percent when taken shortly after initial symptoms, the company announced on Tuesday in its full analysis of data from the trial. The U.S.-based pharmaceutical company’s final testing results on the drug, known as PAXLOVID,…
S&P 500, Nasdaq Slide on Hot Producer Prices Data as Fed Meet Looms
December 14, 2021
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The S&P 500 and the Nasdaq fell on Tuesday after data showed producer prices increased more than expected in November and ahead of a potential decision on faster tapering from the U.S. Federal Reserve this week. The fast-spreading Omicron coronavirus variant also tamped down the mood after the S&P 500 index hit an all-time closing…
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