SYDNEY—A measure of Australian business conditions showed a welcome improvement in August as sales and profits weather coronavirus lockdowns in parts of the country, offering hope of a speedy recovery once restrictions ease. Tuesday’s survey from National Australia Bank showed its index of business conditions rose 4 points to +14 in August, recovering part of…
Australia Business Conditions Show Promising Improvement in August: Survey
S&P 500 Snaps Losing Streak With Tax Hikes, Inflation Data on Horizon
September 14, 2021
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NEW YORK—The S&P 500 closed higher on Monday, ending a five-day losing streak as investors focused on potential corporate tax hikes and upcoming economic data. The Dow Jones Industrial Average also advanced, but the Nasdaq Composite Index ended lower. Investors favored value over growth, with stocks set to benefit most from a resurging economy enjoying…
US Awarding $482.3 Million in Aviation Manufacturing Assistance
September 14, 2021
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WASHINGTON—The U.S. Transportation Department said it was offering $482.3 million in aviation manufacturing assistance to 313 businesses, including up to $75.5 million to Spirit AeroSystems. Congress earlier this year created a $3 billion aviation manufacturing payroll subsidy program that will cover up to half of eligible companies’ compensation costs for as long as six months….
Consumer Inflation Expectations Jump to 8-Year High: NY Fed
Inflation expectations among American consumers rose to an eight-year high in August, according to a new survey from the New York Federal Reserve. Both the short-term and medium-term inflation expectations in August rose to their highest levels in the history of the series, which dates back to 2013, according to the Sept. 13 survey. Consumers’ expectations…
US, South Korea Trade Chiefs Discuss Strengthening Supply Chain
September 14, 2021
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WASHINGTON—U.S. Trade Representative Katherine Tai and South Korean Trade Minister Yeo Han-koo, in a meeting on Monday, emphasized the importance of working together to strengthen supply chains, including for semiconductors, the office of the USTR said in a statement.
UK Employee Numbers Surge Above Pre-Pandemic Level
LONDON—British employers added a record 241,000 staff last month, lifting the total number of employees on company payrolls to just above the level before Britain first went into a COVID-19 lockdown last year, official data showed on Tuesday. The robust jobs data comes as Britain’s government prepares to end its furlough programme on Sept. 30, which…
From Zippers to Glass, Shortages of Basic Goods Hobble US Economy
FLETCHER, N.C.—For Lauren Rash, it’s the little things that have snarled production at her tent factory here, like the many shades of black Velcro. Her company, Diamond Brand, just launched a new line of high-end wall tents called the Liminal, thick with vents and fasteners demanded by discerning campers. But that means using lots of…
China Evergrande Debt Woes Raise Financing Pressure on Peers
SHANGHAI—The Evergrande Group’s struggles to quickly sell off assets and avert defaulting on its $305.3 billion in liabilities is raising the risk of contagion for other privately-owned developers and fund managers analysts say. Worries over the ability of China’s second-largest property developer to make bank loan interest and wealth management product payments have led to…
Business Tax Increases Must End: UK Industry Group
A leading British industry group has urged the government to reward companies that continue investing instead of raising business taxes further. Tony Danker, director-general of the Confederation of British Industry (CBI), said on Monday that UK businesses are willing to pay their fair share to help the country recover from the CCP (Chinese Communist Party)…
US Equity Funds Face Outflows on Growth Concerns: Lipper
U.S. equity funds faced an outflow in the week to Sept. 8, on concerns the spread of the Delta coronavirus variant could slow economic growth and uncertainty over the timeline for the Federal Reserve to pull back its accommodative policies. Data from Lipper showed U.S. equity funds faced an outflow of $1.85 billion in the…
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