Tag: Businesses in COVID-19

Oil Prices Drop to 2-month Lows as New COVID-19 Variant Puts Markets on Edge

November 26, 2021
Business & EconomyBusinesses in COVID-19CCP ViruseconomyGold & CommoditiesInvestmentMarketsOilSouth AfricaUSUS NewsvariantWorld
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Oil prices plunged more than 5 percent in early trading on Nov. 26, hitting a two-month low as the emergence of a new COVID-19 variant spooked investors, driving down risk assets like stocks and pushing up havens like gold and bonds. Brent crude, the global benchmark, fell 5.8 percent to $77.49 a barrel by 6:43 am…

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Risk Assets Sink as New COVID-19 Variant Fears Spark Rush to Safe Havens

November 26, 2021
Business & EconomyBusinesses in COVID-19CCP ViruseconomyGold & CommoditiesInvestmentMarketsSouth AfricastockUSUS NewsvariantWorld
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Overnight headlines about the emergence of a new COVID-19 variant in South Africa seem to have spooked investors, with a risk-off pulse sending global shares and U.S. stock futures tumbling, and safe-havens like U.S. Treasurys and gold benefiting from the outflows. Asia stocks outside Japan slid over 2 percent, Europe and U.S. stock futures are…

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Americans Plan to Spend More on Black Friday and Cyber Monday 2021 Than Last Year: Survey

November 25, 2021
black fridayBusiness & EconomyBusinesses in COVID-19consumer spendingCyber MondayeconomyUSUS News
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A new report from Boston Consulting Group (BCG) shows that Americans plan to spend more during this year’s Black Friday and Cyber Monday events than last year’s, suggesting retailers may be in for a windfall as the busy holiday shopping season kicks off. The report (pdf), released last week, shows that Black Friday and Cyber Monday…

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Americans Plan to Spend More on Black Friday, Cyber Monday Than Last Year: Survey

November 25, 2021
black fridayBusiness & EconomyBusinesses in COVID-19consumer spendingCyber MondayeconomyUSUS News
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Americans plan to spend more this year on Black Friday and Cyber Monday than last year, according to a new report from Boston Consulting Group (BCG), which indicates that retailers may be in for a windfall at the start of the busy holiday shopping season. The report (pdf), released last week, shows that Black Friday and…

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ECB Must Keep Options Open Beyond December Amid Uncertainty: Accounts

November 25, 2021
accountsBusiness & EconomyBusinesses in COVID-19decemberECBeconomic policieseconomyEuropeinflationMarketsoptionsPolicyWorld
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FRANKFURT—The European Central Bank must keep its policy options open beyond a crucial meeting in December as uncertainty over the likely evolution of inflation is exceptionally high, policymakers concluded in October, according to the accounts of the meeting. High inflation is still largely seen as temporary but the current “hump” in prices will be more…

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Fed to Kick Off Faster Tapering Plan From January: Goldman Sachs

November 25, 2021
Business & EconomyBusinesses in COVID-19economic policieseconomyFedGoldmaninflationInvestmentMarketssachsUSUS News
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LONDON—The U.S. Federal Reserve will likely double the pace of tapering its monthly bond purchases from January to $30 billion, and wind down its pandemic-era bond buying scheme by mid-March, Goldman Sachs strategists said in a daily note on Thursday. “The increased openness to accelerating the taper pace likely reflects both somewhat higher-than-expected inflation over…

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German Banks Vulnerable to Housing Bubble; Should Build Buffers: Bundesbank

November 25, 2021
bankbubbleBundesbankBusiness & EconomyBusinesses in COVID-19Companieseconomic policieseconomyEuropeGermanyhousingWorld
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FRANKFURT—Germany’s banks are increasingly vulnerable to an overvalued property market and finance authorities should force lenders to build up capital buffers, the Bundesbank said on Thursday in a regular stability report. Germany cut the so-called countercyclical buffer for banks to zero at the start of the pandemic but economic growth is now robust and bank…

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EU Sees ‘Decisive Moment’ for Building Single Capital Market

November 25, 2021
Business & EconomyBusinesses in COVID-19CapitalCMUCompanieseconomic policieseconomyEUEuropemarketMarketsUKWorld
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LONDON—The European Union set out its third wave of reforms in six years on Thursday to try to build a seamless securities market that can compete better with London and New York, a step that will pit stock exchanges against rival platforms. The EU project to create a capital markets union (CMU) suffered a blow…

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Hundreds of Google Employees Sign Manifesto Opposing Company’s Vaccine Mandate

November 25, 2021
AMERICABiden's Vaccine MandateBusiness & EconomyBusinesses in COVID-19CCP VirusCompaniesCOVID 19 vaccine planseconomyGooglemanifestoSocial IssuesTechTech NewsUSUS NewsVaccines & Safetyworker strike
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At least 600 Google employees have signed a manifesto opposing the company’s COVID-19 vaccination mandate that is said to be applicable to all 150,000 employees, office-going and remote, in line with requirements set forth by the White House. The Biden administration had set a deadline on Jan. 4 for all employees in the country working…

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Turkish Lira Holds Ground After Week’s Volatile Selloff

November 25, 2021
Business & EconomyBusinesses in COVID-19economic policieseconomyliraMarketsMiddle EastTurkishWorld
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ISTANBUL—Turkey’s lira was flat on Thursday after a historic slide to record lows this week that was triggered by President Tayyip Erdogan’s defence of interest rate cuts, despite widespread criticism of his policy direction. The lira was worth 12.09 versus the dollar by 1044 GMT, after having firmed as much as 2 percent to 11.85…

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