The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said as it auctions oil to try to lower global prices. International oil prices have held above $80 a barrel even after U.S. President Joe…
US to Sell 32 Million bbls From 4 Sites as Part of Strategic Sale
November 25, 2021
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Taiwan Looking at Chip Cooperation With Eastern European Nations
November 25, 2021
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TAIPEI—Taiwan is looking at cooperating with three Eastern European countries on semiconductors, a minister said on Thursday, a move likely to find favour in Brussels which has been courting Taiwanese semiconductor firms to manufacture in the bloc. Tech powerhouse Taiwan, home to companies such as Taiwan Semiconductor Manufacturing Co. Ltd (TSMC), has become front and…
Unionized Workers Won’t Have to Get COVID-19 Vaccine, Automakers Decide
November 25, 2021
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A major union and three large automakers announced an agreement this week that includes not mandating COVID-19 vaccination. Ford, General Motors, and Stellantis are asking members of the United Auto Workers (UAW) union to share whether they’ve had a shot, but are not requiring them to do so at this time, the four parties announced…
Oil Weakens, Focus on OPEC+ Response to US–Led Crude Release
November 25, 2021
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MELBOURNE/SINGAPORE—Oil prices edged down on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. Brent crude futures slipped 7 cents to $82.18 a barrel at 0726 GMT, after losing 6 cents…
Global Stocks Mixed After Fed Says Ready to Act on Inflation
November 25, 2021
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BEIJING—Global stock markets mostly rose Thursday after Federal Reserve officials indicated they were ready to hike interest rates sooner than expected if needed to cool U.S. inflation. London, Tokyo, Frankfurt, and Hong Kong markets advanced, while Shanghai declined. Wall Street futures were higher. U.S. markets were closed for the Thanksgiving holiday. They reopen Friday for…
Deere Expects Bumper Year as Farmers Splurge on Equipment
Deere & Co. on Wednesday shrugged off the hit from a month-long worker strike to forecast record earnings for next year, banking on demand from farmers flush with cash after a run-up in grain prices. The world’s largest farm equipment maker also capped a year riddled with supply chain problems with its highest-ever profit of…
Dollar Tree Will Now Price Items $1.25, CEO Blames Inflation for 35-Year Hike
November 24, 2021
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Dollar Tree announced Tuesday that it will be permanently raising prices for most of its items from the namesake $1 to $1.25 citing inflationary pressures resulting in higher merchandise cost and increasing operational expenditures. “For 35 years, Dollar Tree has managed through inflationary periods to maintain the everything-for-one-dollar philosophy that distinguished Dollar Tree and made…
New EU Border Checks May Lead to 17-Mile Delays at Dover, UK Lawmakers Told
New EU border identity checks could result in a 17-mile tailback at the port of Dover, a representative of the UK logistics industry has told a parliamentary committee. The EU is scheduled to implement a new system in April 2022 to monitor non-EU travellers entering the bloc’s Schengen Area. It is proposed that UK citizens…
Businesses Urge Court to Stop Biden Administration’s Attempt to ‘Strong-Arm’ Vaccine Mandate Compliance
November 24, 2021
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A federal appeals court should reject the Biden administration’s bid to lift a block on its private-employer COVID-19 vaccine mandate, businesses said in a new filing. Instead, the court was told it should broaden the stay to ensure the administration stops “strong-arming” businesses to comply with the mandate. A panel of the U.S. Court of…
Weekly Jobless Claims Plunge to Level Not Seen Since 1969
The number of workers applying for unemployment benefits in the United States dropped sharply last week to a level not seen in over 50 years, suggesting businesses were holding on to employees amid a tight labor market. First-time filings for unemployment insurance—a proxy for layoffs—came in at 199,000 for the week ending Nov. 19, the Labor…
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