Category: crunch

Daimler Powers Through Chip Crunch, 2021 Targets on Track

October 29, 2021
Business & EconomychipCompaniescrunchdaimlerEconomiesEuropeInternationalMarketsTargetsTechWorld
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LONDON—Daimler AG reported a higher quarterly profit on Friday despite a 30 percent drop in Mercedes-Benz unit sales due to a global semiconductor chip shortage, as it focused on more profitable luxury cars and cut costs, and said it should meet its 2021 profit targets. The German premium carmaker said it expects chip supplies to…

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Burger King’s Sales Miss, Staff Crunch Eat Into Restaurant Brands’ Revenue

October 25, 2021
brandsBurger KingBusiness & EconomyCompaniescrunchEconomieseconomyInternationalRestaurantsalesstaffTim HortonsUSUS NewsWorld
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Burger King and Tim Hortons are struggling with a staffing crunch and the Delta variant keeping coffee-loving office workers at home, causing parent Restaurant Brands International Inc. to miss estimates for quarterly revenue on Monday. Restaurant Brands also faced stiff competition from McDonald’s Corp. and Wendy’s Co. doubling down on marketing and launching new menu…

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Oil Nears Three-Year High on Energy Crunch Fears

October 12, 2021
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniescrunchEconomieseconomyenergyEuropeHighInternationalLocal NewsMarketsMiddle EastOilRegional NewsRegional-Local NewsTexasUKUSUS NewsWorld
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LONDON—Oil rose towards $84 a barrel on Tuesday, within sight of a three-year high, supported by a rebound in global demand that is contributing to energy shortages in big economies such as China. With demand growing as economies recover from pandemic lows, the Organization of the Petroleum Exporting Countries (OPEC) and allied producers, collectively known…

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