Tag: Businesses in COVID-19

Euro Zone Industry Output Stronger Than Expected in September

November 12, 2021
Business & EconomyBusinesses in COVID-19CompaniesEconomieseuroEuropeIndustryoutputseptemberWorld
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BRUSSELS—Euro zone industrial production dipped by less than expected in September, data showed on Friday, leaving it higher than anticipated year-on-year due to a surge in output of non-durable consumer goods. The European Union’s statistics office Eurostat said industrial production in the 19 countries sharing the euro fell 0.2 percent month-on-month in September for a…

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Inflation Worries Send US Consumer Confidence Plunging to 10-Year Low

November 12, 2021
Business & EconomyBusinesses in COVID-19consumer confidenceconsumer sentimenteconomic policieseconomyinflationMarketsPolicies & ImpactsUSUS News
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U.S. consumer sentiment plunged to a decade low in November, according to a University of Michigan survey, which blamed surging inflation and a growing conviction among American consumers that no effective policies have been put in place to tame runaway prices. The university’s consumer sentiment index fell to a reading of 66.8 in November, down…

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ECB Asks for Governments’ Help to Hit Inflation Goal

November 12, 2021
Business & EconomyBusinesses in COVID-19CompaniesECBeconomic policiesEconomiesEuropegoalGovernmentsinflationPhilip LaneWorld
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FRANKFURT—European governments should be allowed to spend more when inflation is below the European Central Bank’s 2 percent inflation goal and vice versa, the ECB’s chief economist Philip Lane said on Friday. European Union governments are debating how to reform the EU’s fiscal rules to deal with a pandemic-induced surge in public debt and with…

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Asian Bonds Receive Lowest Foreign Flows This Year in October

November 12, 2021
asianbondsBusiness & EconomyBusinesses in COVID-19Companieseconomic policiesEconomiesFlowsforeigninflationInvestmentMarketsoctober
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Asian bonds received lowest foreign inflow this year in October, hit by concerns over higher inflation levels and a slowdown in China’s economy. Overseas investors purchased a combined net total of $2.25 billion in Indonesian, Malaysian, South Korean, Thai, and Indian bonds last month, the smallest buying since December 2020, data from regulatory authorities and…

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Johnson & Johnson to Split Into Two Companies, Shares Rally

November 12, 2021
Business & EconomyBusinesses in COVID-19CompanieseconomyJohnson JohnsonsplitUSUS News
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Johnson & Johnson has announced plans to split into two companies, spinning off its consumer health division—which sells products like Band-Aids, Baby Powder, and Listerine—into a separate publicly traded company. The consumer health business has been provisionally dubbed the New Consumer Health Company, according to a Nov. 12 statement, while the new Johnson & Johnson…

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Apple Supplier Foxconn Cautious on 2022 Revenue Outlook

November 12, 2021
appleAsia & PacificBusiness & EconomyBusinesses in COVID-19CompaniesEconomiesFoxconnMedia & Big TechOutlookrevenuesupplierTechTech NewsWorld
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TAIPEI—Apple supplier Foxconn forecast on Friday that a global chip shortage would run into the second half of 2022 and its fourth-quarter revenue for electronics, including smartphones, would fall more than 15 percent. Chairman Liu Young-way said during a conference call that Foxconn was cautious about its 2022 revenue outlook, citing uncertainties surrounding the coronavirus…

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Futures Edge Higher on Boost From J&J, Tech Stocks

November 12, 2021
Asia & PacificBusiness & EconomyBusinesses in COVID-19Companieseconomic policiesEconomieseconomyfuturesinflationInvestmentJ&JLocal NewsMarket WatchMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsstocksTechUSUS NewsWorld
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U.S. stock index futures edged higher on Friday as Johnson & Johnson and technology stocks led gains at the end of a week scarred by deepening concerns over prolonged inflation. All the major U.S. indexes were set for a more than 1 percent weekly drop, their first since the week ended Oct. 1, as hot…

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Wall Street Powers Higher on J&J, Big Tech Boost

November 12, 2021
Asia & PacificBusiness & EconomyBusinesses in COVID-19Companieseconomic policiesEconomieseconomyinflationInvestmentJ&JLocal NewsMarket WatchMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsstocksTechUSUS NewsWall StreetWorld
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U.S. stock indexes rose on Friday, as Johnson & Johnson and big technology and communication stocks led gains at the end of a week scarred by deepening concerns over prolonged inflation. Johnson & Johnson rose 1.4 percent after saying it planned to break up into two companies focused on its consumer health business and the…

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Tesla’s Musk Sells More Shares Worth $687 Million

November 12, 2021
Business & EconomyBusinesses in COVID-19CompaniesEconomieseconomyElon MuskLocal NewsMarketsNorthern CaliforniaRegional-Local NewsSharesteslaUSUS News
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Tesla Inc. Chief Executive Officer Elon Musk disclosed an additional share sale worth about $687 million in the electric-car maker, regulatory filings showed on Friday, after offloading about $5 billion in stock earlier in the week. Musk sold 587,638 and 52,099 shares held by his trust on Nov. 11 in multiple transactions, according to two…

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US, EU Must Avoid Subsidy Race Amid Chip Shortage: EU’s Vestager

November 12, 2021
Business & EconomyBusinesses in COVID-19chipCompanieseconomic policiesEconomieseconomyEUEuropeMargrethe VestagerRaceshortagesubsidyTechTech NewsUSUS NewsWorld
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The United States and the European Union must avoid a subsidy race as they rush to support semiconductor production amid a global chip shortage, EU Competition Commissioner Margrethe Vestager said on Friday. “We really need to avoid a subsidy race, a race that leaves everyone poorer off,” Vestager said in a speech at the University…

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