Tag: Businesses in COVID-19

Buffett’s Berkshire Hathaway Boosts Operating Profit, Cash Hoard Sets Record

November 6, 2021
Berkshire HathawayBusiness & EconomyBusinesses in COVID-19cashCompanieseconomyInvestmentMarketsprofitUSUS NewsWarren Buffett
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Warren Buffett’s Berkshire Hathaway Inc. on Saturday reported improved operating results as it extended its rebound from the early stages of the pandemic, even as it cut back some stock holdings and boosted its cash hoard to a record. Berkshire also said it repurchased $7.6 billion of its own stock in the third quarter, reflecting…

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Tesla to Open Canada Battery Gear Factory in Markham, Ontario: Mayor

November 6, 2021
batteryBusiness & EconomyBusinesses in COVID-19CanadaCompaniesfactoryGearLocal NewsNorthern CaliforniaOntarioRegional-Local NewsteslaUSUS NewsWorld
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SAN FRANCISCO—Tesla Inc. opened a factory to produce battery manufacturing equipment in the Canadian city of Markham, Ontario, the city said on Friday, as the electric carmaker ramps up the production of cheaper, higher-range 4680 battery cells. In 2019, the U.S. electric carmaker acquired Canada-based Hibar, which manufactures pumps used in fast-speed battery assembly that…

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Futures Extend Gains After October Payrolls Blow Past Expectations

November 5, 2021
Business & EconomyBusinesses in COVID-19CompaniesEconomieseconomyexpectationsfuturesgainsInvestmentLocal NewsMarketsNew YorkNY NewsoctoberpayrollsRegional-Local NewsUSUS News
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U.S. stock index futures sharply extended gains on Friday after data showed U.S. job growth accelerated at a much faster than expected pace in October, adding to optimism sparked by a batch of strong earnings reports. At 8:35 a.m. ET, Dow e-minis were up 120 points, or 0.33 percent, S&P 500 e-minis were up 19.75…

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Wall Street Extends Record Rally on Strong Jobs Report

November 5, 2021
Business & EconomyBusinesses in COVID-19Companieseconomic policiesEconomieseconomygainsinflationInvestmentjobsLocal NewsMarketsNew YorkNY NewsoctoberpayrollsPfizerpillRegional-Local NewsUSUS NewsWall Street
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Wall Street’s main indexes hit record highs in a broad-based rally on Friday as data showing strong jobs growth in October, coupled with Pfizer’s COVID-19 pill update, boosted sentiment about economic growth. Ten of the 11 major S&P sectors advanced in early trading, with economy-sensitive energy, financials, and industrials gaining more than 1 percent each….

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Oil Rises After OPEC+ Rebuffs US Call to Boost Output

November 5, 2021
Asia & PacificBoostBusiness & EconomyBusinesses in COVID-19Companieseconomic policiesEconomieseconomyEuropeGold & CommoditiesInternationalLocal NewsMarketsMiddle EastNew YorkNY NewsOilOPECoutputRegional-Local NewsTexasUKUSUS NewsWorld
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LONDON—Oil prices rose above $81 a barrel on Friday after OPEC+ producers rebuffed a U.S. call to raise supply to cool the market, sticking to plans for a gradual increase in output after cuts made in the face of the coronavirus crisis. Brent crude rose 52 cents, or 0.65 percent, to $81.06 a barrel by…

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JPMorgan Cuts China Growth Forecast for Fifth Time Since August

November 5, 2021
AugustBusiness & EconomyBusinesses in COVID-19CCP VirusChinaChina Business & EconomyCompaniesEconomiesforecastgrowthJPMorganSpecial Topics
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LONDON—JPMorgan cuts its fourth quarter growth forecast for China to 4.0 percent quarter-on-quarter from 5.0 percent on Friday, citing the impact of power shortages and the recurrence of COVID-19 clusters hitting consumer spending and services. “Looking back, we have downgraded China’s growth forecasts five times since August,” JPMorgan’s Haibin Zhu said in a note, adding…

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Japanese Carmakers’ Chinese Sales Tumble in October

November 5, 2021
Asia & PacificBusiness & EconomyBusinesses in COVID-19CarmakersChinaChina Business & EconomyChineseCompaniesEconomieshondaJapaneseNissanoctobersalesToyotaWorld
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BEIJING—Japanese automakers Honda Motor Co., Nissan Motor Co., and Toyota Motor Corp.’s sales in China tumbled again in October as a microchip shortage hit vehicle production in the world’s biggest car market. Honda said it sold 148,377 vehicles in China last month, down 18 percent from a year earlier, while Nissan said it sold 113,876…

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Euro Zone Inflation Will Come Down Even If More Slowly, ECB’s de Guindos Says

November 5, 2021
Business & EconomyBusinesses in COVID-19CompaniesECBEconomieseuroEuropeinflationLuis de GuindosWorld
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MADRID—Euro zone inflation is still expected to fall next year as the factors driving it remain temporary but the rate of its decline will be slower than earlier seen, European Central Bank Vice President Luis de Guindos said on Friday. “Inflation next year will undoubtedly slow down, but the intensity of the fall is perhaps…

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Industry Groups Urge Flexibility in Biden Vaccine Mandate or Risk Crippling ‘Already Strained Supply Chain’

November 5, 2021
Business & EconomyBusinesses in COVID-19Executive BranchinflationPoliticssupply chainUSUS Newsvaccine mandate
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A coalition of business groups—including key supply chain stakeholders representing industries like foodservice, trucking, and warehousing—have called on the Biden administration for flexibility in its COVID-19 private employer vaccine mandate or risk exacerbating the supply chain crunch. A Nov. 3 open letter, signed by nearly 100 groups—such as the Agriculture Transportation Coalition, American Trucking Associations,…

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German Industrial Production Drops in September on Supply Chain Shortages

November 5, 2021
Business & EconomyBusinesses in COVID-19CompaniesEconomiesEuropeGermanindustrialInternationalproductionshortagessupplyWorld
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BERLIN—German industrial production unexpectedly fell in September, official data showed on Friday, as supply bottlenecks for raw and preliminary materials continued to take a toll on output in Europe’s biggest economy. The Federal Statistics Office said industrial output fell by 1.1 percent on the month after an upwardly revised drop of 3.5 percent in August….

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