At last year’s World Economic Forum in Davos, Switzerland, the head of Goldman Sachs announced a new policy for the richest investment bank in the world: It would refuse to underwrite the stock offerings of any private company that did not have at least one woman on its board of directors—and that the minimum would…
Seminal ‘Diversity = Profits’ Research Doesn’t Fare Well Under the Microscope
October 17, 2021
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Italy’s Business Lobby Sees Stronger Economic Growth, GDP up 6.1 Percent in 2021
ROME—Italy’s business lobby Confindustria said on Saturday the country’s growth this year would be more robust than expected, mainly due to a more contained impact of the COVID-19 Delta variant and stronger-than-expected economic indicators. In a report, the association’s research unit CSC forecast gross domestic product (GDP) would rise 6.1 percent this year and 4.1…
White House Meets US Chamber of Commerce, Other Industry Groups on Vaccine Rule
October 16, 2021
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WASHINGTON—Several influential industry groups, including the U.S. Chamber of Commerce, met White House officials on Friday and raised concerns about labor shortages and coronavirus testing requirements as the administration races to implement a plan to require private-sector workers to be vaccinated against COVID-19. The Office of Management & Budget (OMB) conducted the meetings virtually, with…
Analysis: Supply Chains, Inflation Overshadow Vaccine, Debt Woes at IMF-World Bank Meetings
WASHINGTON—Supply chain woes and growing inflation concerns pushed aside a widening gap in COVID-19 vaccinations and mounting debt problems for developing countries as the top concerns for global policymakers at International Monetary Fund and World Bank annual meetings this week. Relatively little new progress was made on increasing vaccine supplies to developing countries, although officials…
Russia Seeing Record Gas Demand but Still Ready to Boost EU Supplies, Novak Says
MOSCOW—Russian gas consumption is running at a record high but Moscow is still ready to increase supplies to Europe should it receive such requests, Deputy Prime Minister Alexander Novak said on Saturday. European spot gas prices have surged by 800 percent this year as demand has recovered after the coronavirus pandemic. Prices eased earlier this…
This Legacy Automaker Has a Better One-Year Return Than GM, Tesla, Nio, and Plug Power
Investors who added Ford Motor Company stock to their portfolios one year ago know the meaning of “Built Ford Tough.” Since October 2020, Ford stock’s one-year return has outperformed a number of the world’s most popular automobile, electric vehicle, and clean energy stocks: General Motors Company, Tesla Inc., Nio Inc.-ADR, and Plug Power Inc. Ford…
Rubio Calls on Biden Administration to Blacklist Huawei Spin-Off Honor
October 16, 2021
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WASHINGTON—Republican U.S. senators led by Marco Rubio on Thursday called on the Biden administration to blacklist Honor, a former unit of embattled Chinese telecoms giant Huawei, describing the firm as a threat to national security. In a letter dated Thursday, seen by Reuters, Rubio described Honor as essentially an “arm” of the Chinese government with…
Senator Cotton Delays Vote on Biden’s Pick for Powerful China Job at Commerce
October 16, 2021
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WASHINGTON—Republican Senator Tom Cotton is holding up a vote to confirm Alan Estevez as the U.S. Commerce Department’s undersecretary for industry and security until he gets answers to difficult questions about technology exports to China. In a letter dated Oct. 14 and seen by Reuters, Cotton asks Estevez to commit to strengthening U.S. restrictions on…
NatSec Expert: ‘We No Longer Need to Censor Ourselves’ About Chinese Communist Party
October 16, 2021
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In a discussion that Hudson Institute senior fellow Arthur Herman described as “particularly chilling,” experts with Hudson’s Hamilton Commission on Securing America’s National Security Innovation Base spoke Oct. 14 on the threat of Chinese economic coercion to the supply chains for defense-critical advanced batteries. One of three talks at Hudson’s “Powering Innovation: Advanced Batteries and…
US Consumers’ Inflation Expectations Remain Elevated, NY Fed Survey Finds
October 16, 2021
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U.S. consumers increased their short-term and medium-term inflation expectations again in September, but they lowered their views on how much home prices, fuel costs, and other expenses will rise over the next year, according to a survey released on Tuesday by the New York Federal Reserve. Median expectations for what inflation will be over the…
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