August saw a marked rise in the amount of emergency rental aid paid out to needy tenants, though the Treasury Department says more needs to be done to accelerate payments. Treasury said in a Sept. 24 release that over $2.3 billion in rental aid payments was disbursed to more than 420,000 households nationwide last month,…
More Emergency Rental Aid Reaches Tenants Amid Treasury Push to Boost Disbursement
September 24, 2021
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Tesla’s German Landing Will Fuel Competition: Volkswagen CEO
September 24, 2021
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Business & EconomyCompaniescompetitionEconomieseconomyEuropeGermanHerbert DiessLocal NewsRegional-Local NewsSouthern CaliforniateslaUSUS NewsVolkswagenWorld
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FRANKFURT—The planned opening of Tesla’s first gigafactory in Europe later this year will force local industry to step up its game, Volkswagen Chief Executive Herbert Diess said on Friday. Diess’ comments, made on Twitter, come as Tesla continues work on its plant in Gruenheide, near Berlin, as it awaits final building approval for the 5.8…
Wall Street Rally Fizzles out as Evergrande Worries Persist; Nike Drops
September 24, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyevergrandeLocal NewsMarketsNew YorkNikeNY NewsRegional-Local NewsUSUS NewsWall Streetworries
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U.S. stock indexes fell on Friday following a two-day rally, as worries persisted about the spillover from debt-laden China Evergrande, while Nike tumbled after cutting its sales forecast. Six of the 11 major S&P sectors advanced in early trading, with economy-sensitive energy, financials and defensive utilities shares leading gains. Technology and consumer discretionary were the…
Evergrande Investors on Hold After Payment Deadline Passes
SINGAPORE/SHANGHAI—China’s Evergrande Group has left global investors guessing over whether it will make a key interest payment, adding to fears that Beijing will let overseas bondholders swallow large losses as a liquidity crisis deepens for the world’s most indebted property company. Evergrande owes $305 billion, has run short of cash, and investors are worried a…
Lifting International Travel Restrictions Will Boost US Economy: Commerce Chief
September 24, 2021
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BoostBusiness & EconomyEconomieseconomyExecutive BranchGina RaimondoPoliticsrestrictionsTravelUSUS News
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WASHINGTON—U.S. Commerce Secretary Gina Raimondo said on Thursday that the decision by the Biden administration to lift international travel restrictions in early November will be a boost to the U.S. economy, especially for tourist destinations like New York and for business travel. Raimondo said the decision announced Monday to allow fully vaccinated foreign nationals to…
Japan CPI Halts 12-Month Decline, Still Well Below BOJ Target
TOKYO—Japan’s core consumer prices halted a 12-month run of declines in August, bolstered by higher energy costs and the impact of a tourism campaign, bringing some relief to central bank efforts to push inflation towards its elusive 2 percent target. Nationwide prices were flat compared with a year earlier, due to a tug of war…
Japan’s SBI to Extend Offer for Shinsei by a Month on Some Conditions
TOKYO—Japanese financial conglomerate SBI Holdings said on Friday it would extend the deadline for its $1.1 billion unsolicited tender offer for Shinsei Bank to Nov. 24 from Oct. 25 if Shinsei agreed to meet certain conditions. SBI, which owns Japan’s largest online brokerage, operates an online bank and has stakes in multiple regional banks. It…
India’s BSE Sensex Crosses 60,000 Mark With Tech Stocks in Lead
Indian shares scaled record highs on Friday (Sept. 24), with the benchmark S&P BSE Sensex topping the 60,000 level for the first time on the back of gains in tech and property stocks. The blue-chip NSE Nifty 50 index rose 0.47 percent to 17,907.5 by 0354 GMT, and the Sensex was up 0.49 percent at…
ECB’s Lagarde Says Many Causes of Inflation Spike Are Temporary
September 24, 2021
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Business & EconomycausesChinaChina Business & EconomyChristine LagardeCompaniesECBEconomiesEuropeinflationspiketemporaryWorld
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FRANKFURT—Many of the drivers of a recent spike in euro zone inflation are temporary and due to fade in the next year, European Central Bank President Christine Lagarde said. Euro zone prices have been rebounding faster than expected as the economy reopened after pandemic-induced lockdowns, and several ECB policymakers think inflation will be close to,…
Japan’s September Manufacturing Activity Growth Slows: Flash PMI
TOKYO—Japan’s factory activity grew at the slowest pace in eight months in September as output and orders contracted, while that of the services sector remained in its downturn, underscoring the protracted impact of the coronavirus pandemic. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) slipped to a seasonally adjusted 51.2 in September…
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