ROME—U.S fast food chain McDonald’s will hire 12,000 people and open 200 new restaurants in Italy by 2025, Dario Baroni, chief executive of the group in the country, was quoted as saying by Affari&Finanza-la Repubblica on Monday. “Italy is seen by the group as one of the markets with the greatest potential on a global…
McDonald’s to Hire 12,000 People, Open 200 Restaurants in Italy by 2025, Executive Says
Oil Steady but Omicron Risks Weigh
LONDON—Oil was steady on Monday, but new concerns about the Omicron coronavirus variant and doubts around the effectiveness of vaccines against it were weighing on prices. Brent was up 6 cents, or 0.1 percent, at $75.21 a barrel by 0947 GMT, and U.S. West Texas Intermediate (WTI) gained 9 cents, or 0.1 percent, to $71.76…
Stocks on Firm Ground as Markets Brace for Central Bank Loaded Week
LONDON—World stocks, oil prices, and the dollar firmed on Monday as a generally upbeat mood took hold of world markets ahead of a host of central bank meetings this week that includes the U.S. Federal Reserve. Equity markets across Europe opened higher, with the pan-region STOXX 600 index last up 0.35 percent, while U.S. equity…
Meat Packers’ Profit Margins Jumped 300 Percent During Pandemic: White House Economics Team
WASHINGTON—Four of the biggest meat-processing companies, using their market power in the highly consolidated U.S. market to drive up meat prices and underpay farmers, have tripled their own net profit margins since the pandemic started, White House economics advisers said. Financial statements of the meat-processing companies—which control 55 percent–85 percent of the market for beef,…
Inflows Into US Bond Funds Dwarf Equity Purchases in 2021: Lipper
U.S. bond funds have attracted record inflows this year, despite worries about inflation and expectations the Federal Reserve could roll back its pandemic-era stimulus measures earlier. According to Refinitiv Lipper data, U.S. bond funds attracted a net $612 billion in the first eleven months of this year, already surpassing the record inflow of $486.18 billion…
Dollar Loses Ground After US Inflation Data
The dollar lost some ground on Friday after U.S. consumer prices increased roughly in line with expectations in November as investors, who had been bracing for much higher inflation, bet that the actual number would not change the pace of interest rate hikes. Labor Department data showed an increasing consumer price index (CPI) as cost…
Toyota Halts More Production in Japan as Parts Run Out
TOKYO—Toyota Motor Co. on Friday expanded production stoppages at some factories in Japan because of a shortage of components shipped from parts plants in Southeast Asia. The latest halts will cut car output by 9,000 vehicles when added to curbs announced on Thursday, affecting the production of Lexus models and its four-wheel-drive Land Cruiser, Toyota…
Daimler Truck Shares Climb on Frankfurt Market Debut
FRANKFURT—Shares in Daimler Truck climbed on their Frankfurt market debut on Friday following the commercial vehicle maker’s long-awaited spin-off from Daimler AG. The split was announced in February and pitched by the two companies as an opportunity to unlock value in both Daimler Truck and the owner of Mercedes-Benz passenger cars and vans. At 1023…
Futures Rise Ahead of CPI Data; Oracle Shines
U.S. stock index futures edged higher on Friday ahead of an inflation report that could likely strengthened the case for an aggressive policy tightening by the Federal Reserve, while Oracle Corp. jumped on an upbeat third-quarter outlook. Shares of the enterprise software maker gained 11.2 percent in premarket trading after posting forecast-beating results for the…
Oil Prices on Track for Biggest Weekly Gain Since August
LONDON—Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand. The Brent and WTI benchmarks were both on course for gains of more than 7 percent this week, their first weekly gain…
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