An American Airlines pilot warned that a vaccine mandate announced last month by President Joe Biden may have a “catastrophic effect” on the transportation system and supply chain. “It’s going to affect commerce, it’s going to affect trade, and ultimately it’s going to affect the economy,” American Airlines pilot Joshua Yoder told Fox News this…
Pilot: Federal Vaccine Mandate Could Have ‘Catastrophic Effect’ on Transportation System
October 13, 2021
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AMERICABusiness & EconomyCCP VirusCOVID-19EconomieseconomyPoliticsSouthwest AirlinesUSUS NewsVaccines & Safety
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IMF Chief Expects Members to Reach $100 Billion Target for Shifting Reserves to Vulnerable Countries
October 13, 2021
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Business & EconomyEconomiesInternationalInternational Monetary FundKristalina GeorgievareservesWorld
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WASHINGTON—International Monetary Fund Managing Director Kristalina Georgieva on Wednesday said she expects advanced economies to reach their target of shifting $100 billion of $650 billion in newly created emergency reserves to countries in need. Georgieva told reporters she was encouraged by the IMF executive board’s consideration of a new Resilience and Sustainability Trust (RST) that would…
UK Supply Chain Woes Set to Continue as Visa Offer Fails to Attract Foreign Truckers
Britain’s supply chain problems look set to continue after a senior government minister admitted that the UK’s offer of 5,000 temporary visas to foreign lorry drivers had attracted very little interest. Last month the government announced that it would issue 5,000 temporary visas to HGV drivers in an attempt to prevent shortages in the run-up…
Supply Chain Disruptions Force White House to Ask Walmart, UPS, FedEx to Increase Output
Carriers of goods including Walmart, UPS, and FedEx are moving to work more shifts—including 24 hours per day, seven days per week—to address global supply disruptions that have contributed to a surge in inflation, the White House said Wednesday. The update was announced ahead of President Joe Biden’s meeting with the heads of Walmart, FedEx,…
As Inflation, Oil Prices Keep Rising, Is Stagflation Next for Canada?
With soaring energy prices, the more troubling economic prospect of stagflation reminiscent of the 1970s has entered the discourse in financial markets
US Consumer Prices Surge Higher Than Expected, Hit 13-Year High
Consumer prices rose more than expected in September as food and energy costs surged, new government data show. According to the latest Bureau of Labor Statistics (BLS) data, the annual inflation rate climbed to a 13-year high of 5.4 percent last month, coming in higher than the median estimate of 5.3 percent. On a month-over-month…
Removal of COVID-19 Restrictions Boosts UK Economy
The UK economy grew faster in August as the lifting of all COVID-19 restrictions gave a boost to the service sector, official figures show. The UK government lifted all lockdown restrictions on July 19 in England, and August was the first full month where there were no COVID-19 curbs. The Office for National Statistics (ONS)…
US Oil and Gas M&A Activity in Third Quarter Pulls Back From 2-Year Peak
October 13, 2021
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acquisitionsBusiness & EconomyCompaniesEconomieseconomyGasLocal NewsmergersOilpeakquarterRegional NewsRegional-Local NewsTexasUSUS News
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Dealmaking in the U.S. oil and gas industry in the third quarter of 2021 fell from a two-year high in the previous quarter, according to data analytics firm Enverus on Tuesday, as the industry cools from post-pandemic consolidations and focuses on selling off non-core assets. Mergers and acquisitions (M&A) activity in the July-September quarter totaled…
Inflation Surges at 13-year High Amid Global Supply Chain Chaos
U.S. consumer prices in September accelerated at their fastest annual rate in 13 years amid a spike in energy prices and supply chain disruptions, according to figures released by the Department of Labor on Wednesday. Data released by the agency shows the consumer price index, which measures what consumers pay for goods and services and serves…
ARK Invest’s Wood Warns Upcoming Economic Downturn in China ‘Obvious’
October 13, 2021
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ARK InvestBusiness & EconomyCathie WoodChinaChina Business & EconomyChinese RegimeCompaniesCorporations TrappeddownturneconomicEconomieseconomyMarketsSpecial TopicstechnologyUSUS News
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NEW YORK—An economic slowdown in China could ripple through the global economy and weigh on commodity prices and growth, star stock picker Cathie Wood of ARK Invest warned in a webinar on Tuesday. Wood, whose flagship $19.7 billion Ark Innovation fund was the top-performing U.S. equity fund in 2020, said that China’s recent steps to…
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