The United States raised potential objections to Nvidia Corp.’s controversial acquisition of SoftBank Group Corp.-owned Arm, Financial Times reports. Nvidia admitted that the Federal Trade Commission had “expressed concerns” about the Arm transaction and that it was in discussions with the agency about “remedies to address those concerns.” Recently the UK launched an in-depth investigation…
Winter Weather, West US Port Labour Talks Are Wild Cards in Shipping: Hapag Lloyd
November 18, 2021
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Business & EconomyBusinesses in COVID-19CompaniesEconomieseconomyEuropeLabourLloydportshippingUSUS NewsWinterWorld
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FRANKFURT—The shipping industry may face unexpected risks from labour negotiations in western U.S. ports and winter weather in the northern hemisphere over the next few months, the head of German container firm Hapag-Lloyd said on Thursday. “Winter can have a significant impact on shipping,” Chief Executive Rolf Habben Jansen said in an online call with…
US to Start Raising Interest Rates From September 2022: JP Morgan
LONDON—The U.S. Federal Reserve will start raising interest rates from September 2022, economists at the country’s biggest bank said in a 2022 outlook note. JPMorgan expects the central bank to raise rates by 0.25 percent from the third quarter of next year and keep raising them by 25 basis points every quarter “at least until…
US Trade Representative Tai Hints at New Asian Economic Framework: NHK
November 18, 2021
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Asia & PacificasianBusiness & EconomyChinaChina Business & EconomyChinese Regimeeconomiceconomic policiesEconomieseconomyframeworkkatherine taiUSUS NewsUS-China relationsWorld
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TOKYO—U.S. Trade Representative Katherine Tai said the United States may set up a new Asian economic framework with allies and “friendly” nations as early as next year, NHK public television reported on Thursday. The United States and Japan announced on Wednesday a new trade partnership to boost cooperation on labour, environment, and digital trade issues,…
China Walks a Tightrope on Property Clampdown
November 18, 2021
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Business & EconomyBusinesses in COVID-19ChinaChina Business & EconomyChinese RegimeclampdowndebtEconomies
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BEIJING—China’s property sector, a major driver of economic growth, has weakened sharply this year as Beijing clamps down on speculators and indebted developers in a broad push to ease financial risks, with prices of new homes down for the first time in six years. In the near term, many analysts expect authorities will try to…
EU Says Chips Policy Aim Is to Ensure Resilient Supply Chain
November 18, 2021
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Business & EconomyBusinesses in COVID-19chipsCompanieseconomic policiesEconomiesEUEuropeInternationalMargrethe VestagerPolicysupplyWorld
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BRUSSELS—The European Union’s policy on state aid for the production of semiconductors will seek to avoid a subsidy race, and companies must aim for diversification to ensure a robust supply chain across the bloc, the European Commission said on Thursday. “Each case for the supply of semiconductors will be rigorously assessed based on their respective…
Weekly Jobless Claims Edge Down to New Pandemic-Era Low
The number of workers applying for unemployment benefits in the United States inched down last week to a fresh pandemic-era low, suggesting further tightening in the labor market. First-time filings for unemployment insurance—a proxy for layoffs—came in at 268,000 for the week ending Nov. 13, the Labor Department said in a report (pdf). That’s 1,000…
Meat and Pies Running Out of Stock This Thanksgiving: IRI
November 18, 2021
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Business & EconomyEconomieseconomyinflationmeat shortagesSocial Issuessupermarkets out of stocksupply chain crisisThanksgiving mealUS
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Thanksgiving items are running out of stock, prices are shooting upward, and retailers are cutting down on promotions, according to a recent market analysis report from IRI, a research firm that tracks retail sales in the United States. The continuing supply chain issues are impacting stores across the country with supermarkets and stores making adjustments…
Starbucks Links With Amazon Go for First Cashier-Less Cafe
November 18, 2021
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AmazonBusiness & EconomyBusinesses in COVID-19cafeCashierlessCompaniesEconomieseconomyMedia & Big TechStarbucksUSUS News
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NEW YORK—Starbucks Corp.’s newest cafe lacks one element most customers are used to seeing: cashiers. The global coffee chain on Thursday opened its first ever location in partnership with Amazon Go, the e-commerce giant’s brick-and-mortar convenience store, where customers can sit at a table with a latte or grab a sandwich from a shelf and…
Shipping Rate Surge Could Derail Economic Recovery, Drive Up Inflation: UNCTAD
November 18, 2021
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Business & EconomyBusinesses in COVID-19consumer pricesEconomieseconomyinflationshipping rateUSUS News
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A U.N. agency has warned that a surge in container shipping rates threatens the global economic recovery and could add an additional 1.5 percent to consumer price inflation through 2023. The United Nations Conference on Trade and Development (UNCTAD) said in a Nov. 18 analysis (pdf) that, since the second half of 2020, higher-than-expected demand…
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