FRANKFURT—Euro zone inflation will take longer to fall back to target than earlier thought but so far there is no evidence that high prices are becoming embedded in wages, ECB Vice President Luis de Guindos said on Wednesday. High inflation is challenging the ECB, which has little experience dealing with rapid price growth and complicates…
Euro Zone Inflation Will Take Longer to Fall Back to 2 Percent, Says ECB
December 8, 2021
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Japan Economy Contracts 3.6 Percent in Third Quarter as Virus Hits Spending
December 8, 2021
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TOKYO—Japan’s economy contracted at a 3.6 percent annual rate in July-September as a wave of coronavirus infections crimped travel and other activities, the government said Wednesday. The estimate for the last quarter, downgraded from an earlier report of a 3.0 percent contraction, reflected weakness in consumer spending and trade, the government said. In quarterly terms,…
Hedge Funds’ November Performance Worst Since March 2020: HFR
December 8, 2021
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LONDON—Hedge funds posted their worst performance in 20 months in November, after a global market selloff sparked by concerns over the Omicron COVID-19 variant, according to data from HedgeFund Research. Financial markets went into a tailspin in the final week of November with U.S. stocks losing nearly 4 percent in the last five trading sessions…
Oil Steadies Near $75 as Investors Assess Omicron’s Impact
December 8, 2021
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LONDON—Oil prices steadied near $75 a barrel on Wednesday, taking a breather after strong gains earlier this week, as investors continued to assess the impact of the Omicron coronavirus variant on the global economy and fuel demand. Brent crude futures dropped 19 cents, or 0.25 percent, to $75.25 a barrel at 0925 GMT, after settling…
World Shares Mostly Higher as Virus Fears Ease
December 8, 2021
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BANGKOK—Stocks advanced Wednesday in Asia after another broad rally on Wall Street as investors wagered that the new variant of the COVID-19 virus won’t pose a big threat to the economy. Shares rose in Paris, London, Tokyo, and Shanghai but fell in Frankfurt as Germany’s parliament elected Olaf Scholz as the country’s ninth post-World War…
2022 Workplace Trends and Why Employee Experience Matters
By Saurabh Kumar This year showed a ray of hope to businesses and professionals suffering from the COVID crisis. Organizations started to get back on track, and employees could work on-site again. It was the year of resurgence and recovery. We saw a rise in new technology adoption and advanced tools to facilitate remote working….
American Airlines Taps President Isom as Next CEO
December 7, 2021
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American Airlines Group Inc. CEO Doug Parker will hand over the reins of the No. 1 U.S. airline to president Robert Isom on March 31, the company said on Tuesday, sending its shares up more than 3 percent before the bell. Parker will continue as chairman, while Isom will join the carrier’s board after he…
Omicron Threatens Asia Oil Demand Just as Pricing Favours Atlantic Crude
December 7, 2021
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LONDON—Recent shifts in the relative price of different crude grades have dealt oil exporters from the vast Atlantic Ocean basin the best chance in months to sell to top consuming region Asia, but sales have been sluggish as COVID-19 fears cool demand. The Omicron coronavirus variant has curbed oil consumption in Asia just as U.S….
No Need Now for ECB to Boost Legacy Bond Purchase Scheme: Muller
December 7, 2021
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FRANKFURT—Euro zone inflation could exceed the European Central Bank’s forecast in the long term, so there is no reason now to boost a legacy bond purchase programme when an emergency scheme ends next March, ECB policymaker Madis Muller said. The ECB is debating life after the 1.85 trillion euro ($2.08 trillion) Pandemic Emergency Purchase Programme…
US Bank Executives Raise Concerns Over Inflation
December 7, 2021
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NEW YORK—U.S. bank executives on Tuesday raised concerns about the impact of a sustained period of higher inflation, adding to pressure on the Federal Reserve to accelerate plans to slow down the pace of its asset purchases. Wells Fargo Chief Executive Charlie Scharf said at a conference that the Fed may need to move more…
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