Tag: Economies

European Stocks Head for Best Week in Seven Months

October 15, 2021
Asia & PacificAustraliabestBusiness & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyEuropeEuropeanInvestmentMarket WatchMarketsperformancestocksUKUSweekWorld
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European stocks were headed for their best weekly performance in seven months on Friday, as a bright start to the earnings season helped ease investor concerns about higher inflation. The pan-European STOXX 600 index rose 0.3 percent, on course to end the week with a more than 2 percent gain after a sharp rebound in…

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Dollar Looks Set to End Week Down, Yen Nears a 3-Year Low

October 15, 2021
Asia & PacificAustraliaBusiness & EconomyCompaniesDollardownEconomieseconomyEuropeInternationalInvestmentLocal NewsMarket WatchMarketsNew YorkRegional-Local NewsUKUSUS NewsWorldyen
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LONDON—The dollar headed for its first weekly decline versus major peers since the start of last month on Friday as global risk appetite rebounded, while the Japanese yen headed for a three-year low and the price of bitcoin hit nearly $60,000. The dollar index slipped 0.1 percent to 93.9 and was down 0.2 percent for…

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Investors Park Inflation Fears to Renew Bets on Stocks

October 15, 2021
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyEuropeinflationInternationalInvestmentinvestorsLocal NewsMarket WatchMarketsNew YorkNY NewsRegional-Local NewsstocksTexasUKUSUS NewsWorld
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LONDON—Shares rose on Friday, buoyed by stellar corporate earnings results, but strong oil prices and stalling car sales in Europe were a reminder of headwinds for the world economy. The STOXX index of 600 European shares was up 0.2 percent at three-week highs. Britain’s FTSE 100 also gained 0.2 percent, the UK blue-chip index having…

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Truckers Warn Federal Regulators That Drug-Testing Bottlenecks Are Leaving Many Unable to Drive

October 15, 2021
AMERICABottlenecksBusiness & EconomyCCP VirusCOVID-19drug testingEconomieseconomyExecutive BranchPoliticssupply chainstruckersUSUS NewsWalmart
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The Owner-Operator Independent Drivers Association (OOIDA) has warned federal regulators that disruptions affecting drug and alcohol testing pose significant challenges for truck drivers, leaving many of them unable to legally drive. In a letter (pdf) sent to the Federal Motor Carrier Safety Administration on Oct. 13, OOIDA President and CEO Todd Spencer said that disruptions…

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Fed, Nearing Bond-Buying ‘Taper,’ Remains Divided on Inflation

October 15, 2021
Business & EconomyBusiness ColumnistsEconomieseconomyFedMarket WatchU.S. labor marketUSUS News
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Despite a broadly shared view that the U.S. labor market has healed enough to allow the Federal Reserve to start reducing its monthly bond purchases as soon as next month, policymakers remain divided over inflation and what they should do about it. The U.S. government reported on Thursday that producer prices rose 8.6 percent in…

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Britain Calls for 800 Foreign Butchers to Avoid Pig Cull

October 15, 2021
BritainBusiness & EconomyCOVID-19EconomiesForeign ButchersUKWorld
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LONDON—Britain will offer six-month emergency visas to 800 foreign butchers to avoid a mass pig cull, it said on Thursday, after farmers complained that an exodus of workers from abattoirs and meat processors had left the pork sector fighting for survival. A combination of Brexit and COVID-19 has sparked an exodus of east European workers,…

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Sen. Warren Urges Amazon Breakup, India Retailers Want Probe

October 15, 2021
AmazonBreakupBusiness & EconomyCompaniesDemocratsEconomiesElizabeth WarrenIndiaMedia & Big TechPoliticsretailersTechUSUS NewsWorld
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NEW DELHI—Sen. Elizabeth Warren (D-Mass.) called for breaking up Amazon.com Inc. and Indian retailers demanded a government probe of the company after a Reuters investigation showed the e-commerce giant had copied products and rigged search results in India. The Reuters report reviewing thousands of internal Amazon documents, found that the U.S. company ran a systematic…

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German Economic Institutes Cut 2021 GDP Forecast

October 15, 2021
2021 GDP ForecastBusiness & EconomyEconomiesEuropeGerman Economic InstitutesInternationalMarketsWorld
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Berlin—Germany’s top economic institutes cut their joint forecast for 2021 growth in Europe’s largest economy to 2.4 percent on Thursday as supply bottlenecks hamper manufacturing, but they raised their prediction for next year. The five institutes—the RWI in Essen, the DIW in Berlin, the Ifo in Munich, the IfW in Kiel, and Halle’s IWH—raised their…

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IKEA Warns Supply Chain Disruptions Likely to Last Into 2022

October 14, 2021
Business & EconomyBusiness ColumnistsCompaniesEconomiesIKEAsupply chain
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STOCKHOLM—IKEA, the world’s biggest furniture brand, is leasing more ships, buying containers, and re-routing goods between warehouses as it works hard to mitigate a “perfect storm” of global supply chain disruptions which could last into next year, executives said. The company, which earlier on Thursday reported record annual sales as locked-down consumers spent more than…

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US Committed to WTO and Wants It to Succeed, Trade Representative Tai Says

October 14, 2021
Business & EconomyEconomieseconomyExecutive BranchInternationalkatherine taiPoliticsrepresentativesucceedtradeUSUS NewsWorldWTO
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GENEVA—Top U.S. trade negotiator Katherine Tai on Thursday affirmed the Biden administration’s commitment to the World Trade Organization (WTO), saying consensus was possible on several trade and health proposals at a major meeting next month. The 25-year-old global trade body is facing questions about its relevance and director-general Ngozi Okonjo-Iweala is under pressure to deliver…

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