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…
Euro Zone Inflation Will Come Down Even If More Slowly, ECB’s de Guindos Says
November 5, 2021
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German Industrial Production Drops in September on Supply Chain Shortages
November 5, 2021
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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….
Airbnb Revenue Surges as Countries Open Up for Vaccinated Travelers
November 5, 2021
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Airbnb Inc.’s quarterly revenue topped Wall Street expectations and the short-term home rental company said on Thursday a rebound in global travel in the last three months of the year would drive growth in 2022. International travel search volumes have been rising as countries, including the United States, start to ease pandemic-related restrictions for fully…
Global Share Rally Pauses as China Property Weighs, US Data Loom
November 5, 2021
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HONG KONG/LONDON—A share rally that has lifted stocks to record levels in recent days lost momentum on Friday, weighed down by renewed uncertainty over China’s property sector and as markets paused for breath ahead of U.S. jobs data due later in the day. The U.S. dollar gained against sterling, which took a beating after the…
Which PC Companies Defied the Downturn in Global Shipments in Q3?
Global PC shipments, also including tablets, fell in the third quarter although remaining well above pre-COVID-19 pandemic levels, new research by Canalys showed. Modest Slippage In Q3 PC shipments fell 2 percent year-over-year in the third quarter to 122.1 million units, with tablets and Chromebooks serving as drags, the report said. Tablet shipments fell 15 percent year-over-year…
Is Qualcomm Headed to $200 by the End of the Year?
Qualcomm Inc is soaring after the company announced better-than-expected financial results. What Happened Qualcomm reported quarterly earnings of $2.55 per share, which beat the estimate of $2.26 per share. The company reported quarterly revenue of $9.34 billion, which beat the estimate of $8.86 billion. Lebenthal’s Take: “It just never deserved to be down at $120-$125…
Israel Spared 5th Snap Election as Lawmakers Pass Budget
JERUSALEM—Israel’s parliament passed a national budget for the first time in three years early on Thursday, avoiding a November deadline that would have brought down the new government and triggered another election. The marathon overnight voting on budget bills in the Knesset, Israel’s parliament, was a major hurdle for the new government headed by Prime…
US Labor Costs Surge in the Third Quarter; Productivity Falls Sharply
WASHINGTON—U.S. unit labor costs surged in the third quarter, while productivity declined at its sharpest pace since 1981, adding to signs that high inflation could last for a while. The Labor Department said on Thursday that unit labor costs, the price of labor per single unit of output, increased at an 8.3 percent annualized rate…
Chinese Airlines to Apply Fuel Surcharge On Friday as Oil Prices Rise
BEIJING/SYDNEY—Chinese airlines will apply a fuel surcharge to domestic routes starting Friday for the first time in more than two years, as oil prices surge. The move comes as oil benchmarks trade close to their highest levels in years. Brent crude is now trading over $80 a barrel, up from about $20 a barrel hit…
US Trade Deficit Jumps to Record High in September
WASHINGTON—The U.S. trade deficit jumped to a record high in September as exports slumped, government data showed on Thursday. The Commerce Department said that the trade gap surged 11.2 percent to a record $80.9 billion. Economists polled by Reuters had forecast an $80.5 billion deficit. Exports tumbled 3.0 percent to $207.6 billion in September. Goods…
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