NEW YORK—A potential renomination of Jerome Powell at the helm of the U.S. Federal Reserve would provide a needed sense of stability as the central bank prepares to pull back its emergency-level support, investors say, even while some chide the Fed chief for policies they say have pumped excessive liquidity into markets. Wall Street is…
Investors Betting on ‘Stable’ Choice of Powell Renomination at Fed
September 9, 2021
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Sharp Increase in Wages Contributing to Growing Concern Over Rising Inflation: Economists
An increase in wages amid weak hiring is prompting concern among economists about growing inflation as businesses attempt to entice employees back to work amid the COVID-19 pandemic. The Labor Department’s August jobs report showed the U.S. economy added a disappointing 235,000 jobs during the month, versus expectations of around 750,000, while the unemployment rate declined by just 0.2 percent to…
Sharp Increase In Wages Contributing To Growing Concern Over Rising Inflation: Economist
An increase in wages has prompted concerns about growing inflation among economists as businesses attempt to entice employees back to work amid the COVID-19 pandemic. It comes after the Labor Department released its disappointing August jobs report which showed the U.S. economy added just 235,000 jobs during the month, versus expectations of around 750,000, while the unemployment rate declined…
Many Businesses Expect to Raise Prices in Face of Higher Input Costs: Fed
A number of U.S. businesses facing supply-crunch-driven inflation in input costs say they expect to pass on higher prices to consumers, according to the Federal Reserve. Producer price inflation and its potential spillover onto store shelves is one the themes from the Fed’s most recent version of the “Beige Book,” released on Sept. 8, which…
Many Businesses Expect to Hike Selling Prices in Face of Higher Input Costs: Fed
A number of American businesses facing supply-crunch-driven inflation in input costs say they expect to pass on higher prices to consumers, according to the Federal Reserve. Producer price inflation and its potential spillover onto store shelves is one the themes from the Fed’s most recent version of the “Beige Book,” released on Wednesday, which provides…
Ukraine Parliament Passes Law to Legalize and Regulate Cryptocurrency
Ukraine has become the latest country to legalize cryptocurrency, just days after El Salvador adopted Bitcoin as legal tender. In an almost unanimous vote on Sept. 8, the Ukrainian Parliament adopted a virtual asset bill making cryptocurrency and other digital assets legal in the country. Known as Bill No. 3637 On Virtual Assets, the draft bill provides clarification on how individuals and…
US–EU Officials to Kick Off New Trade, Tech Council on Sept. 29: White House
September 9, 2021
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WASHINGTON—Top officials from the United States and European Union will meet in Pittsburgh, Pennsylvania on Sept. 29 for the inaugural meeting of the newly established U.S.–EU Trade and Technology Council (TTC), a White House spokesperson said on Thursday. The council, announced at the U.S.–EU summit in June, aims to expand and deepen trade and investment…
Bitcoin Steadies But Investors Brace for More Volatility
The price of bitcoin has steadied after a spectacular flash crash pushed the cryptocurrency down nearly 19 percent intraday on Tuesday—the day El Salvador adopted it as legal tender—but analysts say investors should brace for more volatility. “Post liquidations can push prices around for a few days,” wrote cryptocurrency technician Daniel Joe, in an analytical…
Profit at Bid Target Morrisons Falls 37 Percent on COVID-19 Hit
LONDON—British supermarket group Morrisons, at the centre of a bid battle between two U.S. private equity firms, on Thursday reported a 37.1 percent fall in first-half profit, hurt by COVID-19 costs and lost profit in cafes, fuel and food-to-go areas. The group, which trails market leader Tesco, Sainsbury’s and Asda in annual revenue, maintained its…
Global Non-Life Premiums to Rise 10 Percent Above Pre-Pandemic Levels This Year—Swiss Re
BERLIN—Reinsurer Swiss Re said it expected non-life insurance premiums to rise 10 percent above pre-pandemic levels by the end of 2021 and increase further the following year, driven in part by a growing need for protection against the impact of climate change. The company’s research arm said it expected non-life insurance would hit $6.9 trillion…
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