As the shipping season approaches its peak, congestion at the Port of Los Angeles, the largest port on the West Coast, and its adjacent Port of Long Beach, remains unresolved, which may affect the upcoming shopping season. Gene Seroka, Executive Director of the Port of Los Angeles, reminded consumers to plan ahead for the upcoming…
Experts Advise Consumers to Plan Ahead for the Shopping Season Due to Shipping Congestion
Walgreens Boots Heaps Bonuses, Rewards for Pharmacists Amid Labor Shortage
September 18, 2021
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bonusesBusiness & EconomyCompaniesEconomieseconomyIllinoislaborLocal NewsPharmacistsRegional-Local NewsshortageUSUS NewsWalgreens Boots
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Walgreens Boots Alliance Inc. will give a one-time bonus of $1,250 to its full-time pharmacists and a $1,000 payment to part-time pharmacists, the drugstore chain said on Friday, as major retailers try to retain people amid intense labor shortage. The company said certified or to-be certified pharmacy technicians who are responsible for administering flu and…
Shanghai Encourages ‘Duty-Free Economy’ as Part of Consumer Push
BEIJING—The Shanghai government will support companies applying for approval to sell duty-free goods, and encourage duty-free shops to be set up at airports, hotels, malls and other commercial venues, municipal authorities said. The development of a “duty-free economy,” which will encourage spending on imported products, including heavily-taxed luxury goods, was outlined in a 2021–2025 consumption…
Germany’s Laschet Says Trusts ECB to Keep Inflation in Check
FRANKFURT—Armin Laschet, the conservative candidate bidding to succeed German Chancellor Angela Merkel in this month’s election, said he was confident the European Central Bank (ECB) would achieve price stability, as accelerating inflation hits savers. “For me, it’s alarming when small savings, pensions, life insurances and building loan contracts lose value,” Laschet was quoted as telling…
Evergrande Says Six Execs Redeemed Investment Products in Advance
September 18, 2021
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advanceBusiness & EconomyChinaChina Business & EconomyCompaniesEconomiesevergrandeInvestmentproducts
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BEIJING—Six executives of China’s heavily indebted Evergrande redeemed some of the company’s investment products in advance earlier this year, the property group said on Saturday. Between May 1 and Sept. 7, the six executives made early redemptions of 12 investment products, Evergrande said in a statement on its website, without identifying the executives or giving…
Barra: GM Will Make ‘Substantial Shifts’ in Supply Chain Over Chips
September 18, 2021
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Business & EconomychipsCompaniesEconomiesGMLocal NewsMary BarraMichiganRegional-Local NewsshiftssupplyUSUS News
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WASHINGTON—General Motors Co. Chief Executive Mary Barra said Friday the largest U.S. automaker plans to make changes in its supply chain as it works to address the continuing semiconductor chip crisis that has forced significant production cuts. “We’re going to make some pretty substantial shifts in our supply chain,” Barra said in an online interview….
Daimler Truck Boss Says Chip Supply Has Tightened Further
FRANKFURT—Daimler AG’s truck business, the world’s largest, has seen the supply of crucial chips tighten further in recent weeks, the division’s chief executive said in a Frankfurter Allgemeine Sonntagszeitung report. “Since the summer months the situation has intensified again,” Martin Daum told the weekly newspaper, adding this had affected production in Germany and the United…
US Consumer Sentiment Steadies in September After August Plunge: Umich
U.S. consumer sentiment steadied in early September after plunging the month before to its lowest level in nearly a decade, but consumers continue to have a bleak view of the outlook amid a stiff bout of inflation, a survey showed on Friday. The University of Michigan said its consumer sentiment indexedged up to 71 in…
US Banking Lobby Groups Oppose Proposed Tax Reporting Law
The largest U.S. banking lobby groups banded together on Friday to make another push to kill a proposed bank account reporting law being drawn up as part of the congressional reconciliation package. In a letter to U.S. House of Representatives Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy, the lobby groups said the proposal…
US Senator Concerned American, JetBlue Partnership Will Raise Prices
September 18, 2021
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AmericanBusiness & EconomyCompaniesDemocratsEconomieseconomyJetBluepartnershipPoliticspricesRichard BlumenthaSenatorUSUS News
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WASHINGTON—U.S. Senator Richard Blumenthal, a Democrat who has been outspoken on antitrust issues, expressed concern to the Transportation Department on Friday that a partnership between American Airlines and JetBlue Airways would lead to higher airfares. The airlines’ “Northeast Alliance” partnership was announced in July 2020 and approved by the Transportation Department six months later, shortly…
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