China’s factory output growth in August hit a 13-month low as COVID-19 delta variant surges in southeast China and the global supply shortage prolongs. The latest data released by China’s National Bureau of Statistics (NBS) on Sept. 15 show a 5.3 percent rise in industrial production from last year, one percent lower compared to the…
China’s Economy Shows Weakness Amid Outbreak and Supply Crisis
September 15, 2021
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Business & EconomyChinaChina Business & Economydelta variantEconomiesMarketsnational bureau of statisticssupply shortages
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H&M’s Sales Still Lag Pre-Pandemic Levels as Restrictions Bite
STOCKHOLM—Sales at fashion retailer H&M grew less than expected in the three months to the end of August, staying below pre-pandemic levels as restrictions kept shoppers away from stores. The Swedish group said on Wednesday sales grew 9 percent from a year earlier, or 14 percent in local currency terms, to 55.6 billion crowns ($6.46…
South Korea Jobless Rate Hits Record Low as Jobs for Public Sector, Part-Timers Grow
September 15, 2021
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Asia & PacificBusiness & EconomyCompaniesEconomiesGrowjoblesslowpart-timerspublicrateSouth KoreaWorld
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SEOUL—South Korea’s August unemployment rate fell to the lowest on record, suggesting the economic recovery from the COVID-19 pandemic was on track, though a breakdown of data showed labour conditions in the key manufacturing sector remained weak. The seasonally adjusted unemployment rate in August dropped to 2.8 percent, Statistics Korea data showed on Wednesday, the…
UK Consumer Price Inflation Jumps to Highest Level in 9 Years
Britain’s consumer price index (CPI), a measure of inflation, jumped to 3.2 percent over the year in August, the highest level in nearly a decade. The UK’s Office for National Statistics (ONS) disclosed the CPI figures in a Sept. 15 release, in which the agency said the inflationary spike is likely temporary, driven up mostly by…
Japan Manufacturers’ Mood Falls to 5-Month Low in September: Poll
TOKYO—Japanese manufacturers’ confidence worsened to a five-month low in September as the fallout from the latest wave of COVID-19 put fresh pressure on the world’s third-largest economy, the Reuters Tankan poll showed. Sentiment among manufacturers fell as export-reliant firms such as carmakers suffered from a global chip shortage, according to the monthly poll, which tracks…
Household Income of Americans Fell in 2020 for First Time Since 2011: Census Bureau
September 15, 2021
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Business & EconomyCOVID-19 pandemicEconomieseconomyhousehold incomepovertyunemployment benefitsUSUS News
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The household income of Americans fell last year as COVID-19-related lockdowns wrought havoc on the economy, according to new figures from the Census Bureau. The median household income was $67,521 in 2020, a decrease of 2.9 percent from the 2019 median of $69,560 and the first significant decline since 2011, the Census said in its findings published Sept….
Google Says It Offers More Than $10 Billion in Consumer Benefits in South Korea
September 15, 2021
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Asia & PacificbenefitsBusiness & EconomyCompaniesconsumerEconomieseconomyGoogleLocal NewsMedia & Big TechRegional-Local NewsSouth KoreaSouthern CaliforniaUSUS NewsWorld
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SEOUL—Alphabet Inc.’s Google said on Wednesday its presence in South Korea equates to nearly 12 trillion won ($10.16 billion) in economic benefits for its users, as the U.S. tech giant faces increased scrutiny from regulators and politicians. Google’s announcement came a day after South Korea’s antitrust agency fined Google 207 billion won for blocking customised…
Rare Earth Metal Prices Poised for More Gains: Analysts
September 15, 2021
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Business & Economycritical mineralsEconomieseconomyElectric VehiclesInternationalInvestmentMarket WatchMarketsrare earthsUSUS NewsWorld
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Rare earth metal prices have risen sharply over the past year while growing adoption of new technologies like electric vehicles is likely to send costs even higher, according to analysts. In the 12 months through September, the price of lithium carbonate—used in batteries, mobile devices, and spacecraft—surged 150 percent; the price of holmium oxide—used in…
SoftBank CEO Son Says Smart Robots Can Revitalise Japan Growth, Competitiveness
September 15, 2021
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Asia & PacificBusiness & EconomyCEOCompaniesEconomiesgrowthJapanRevitaliserobotssmartSoftbankTechTech NewsWorld
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TOKYO—SoftBank Group Corp Chief Executive Masayoshi Son on Wednesday said so-called smart robots can revitalise Japan’s economy and competitiveness, doubling down on robotics just as the company’s much-hyped “Pepper” robot prepares to bow out. Son, at the online SoftBank World 2021 conference, said the firm’s Vision Fund is involved with 18 companies developing machines enhanced…
Britain Delays Post-Brexit Import Trade Controls Again
LONDON—Britain has delayed the implementation of some post-Brexit import controls for a second time, saying it would phase in checks through next year rather than impose them now when industry supply chains are under strain. Britain left the European Union’s single market at the beginning of 2021 and the immediate introduction of checks on British…
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