LONDON—A selloff in global stocks extended into Tuesday on signs that soaring energy prices had put a dampener on economic growth, while inflation and policy-tightening fears sent short-dated U.S. Treasury yields to 18-month highs. Oil prices rose further, with Brent crude at almost $89 a barrel. Coal has scaled record peaks and, while gas prices…
Stocks and Bonds Reel Under Stagflation Threat
October 12, 2021
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Asia & PacificbondsBusiness & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyEuropeInternationalInvestmentMarket WatchMarketsstagflationstocksthreatUKUSUS NewsWorld
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Wall Street Ends Choppy Session Lower on Earnings Jitters; Financials Down
October 12, 2021
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Business & EconomyCompaniesearningsEconomieseconomyfinancialsInvestmentLocal NewslowerMarket WatchMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsUSUS NewsWall Street
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NEW YORK—U.S. stocks ended a choppy session lower on Monday as investors grew nervous ahead of third-quarter earnings reporting season. Supply chain problems and higher costs for energy and other things have fueled concern about earnings, set to kick off with JPMorgan Chase & Co. results on Wednesday. Indexes reversed early gains after midday and…
Brazil’s Embraer Sells 100 Aircraft to NetJets, Shares Rise
SAO PAULO—Embraer has signed a deal valued at more than $1.2 billion to sell an additional 100 aircraft to NetJets, the Brazilian planemaker said on Monday, sending its shares higher. Embraer said it expects to deliver the Phenom 300E jets from the second quarter of 2023. NetJets is a U.S. company that offers shared ownership…
Business Jet Makers Look to Tap Surging Travel Demand at Las Vegas Air Show
LAS VEGAS—Planemakers are unveiling new orders and fresh models at the world’s largest business jet show this week as they aim to cash in on a boom in private travel, but executives warn of headwinds due to a capacity crunch. The National Business Aviation Association (NBAA) show returns to an in-person format starting in Las…
New York Among Handful of States Standing to Receive More Rental Relief Aid
October 12, 2021
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Business & EconomyEconomiesEmergency Rental Assistance Program (ERAP)Gov. Kathy HochulLocal NewsNew YorkRegional-Local NewsUSUS News
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New York Gov. Kathy Hochul has announced that the state is seeking more federal funding for its Emergency Rental Assistance Program (ERAP), a drastic turnaround given that state officials were concerned about the program’s operation just a couple months ago. In a news release late last week tied to another COVID-19 measure, Hochul said that…
Fundraising by China Property Trust Products Slump Amid Evergrande Woes: Media
October 12, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesEconomiesevergrandefundraisingMarketsmediapropertytrust
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SHANGHAI—Fundraising by Chinese property trust products tumbled over 40 percent in September from a month earlier, official Shanghai Securities News reported on Monday, as China Evergrande Group’s troubles further dampen investor appetite toward the struggling sector. Newly-launched real estate trust products raised 16.2 billion yuan from investors in September, down 44.8 percent from the previous…
World Bank Warns of ‘Tragic Reversals’ in Developing Countries Due to COVID-19
Some of the world’s poorer countries have seen “tragic reversals in development” during the COVID-19 pandemic, World Bank Group president David Malpass said on Monday. In a speech at a media roundtable during the 2021 annual meeting of the International Monetary Fund (IMF) and the World Bank Group, Malpass said that development progress in some countries…
Opportunism Drives CCP’s Crackdown on Macau Casinos, Analysts Say
News Analysis China’s widely reported crackdown on the gaming industry of Macau arises from a mixture of opportunism and ideology, with the former an overriding factor, according to observers. The desire to eliminate perceived threats to Beijing’s dominance, and the economic motive of keeping gaming revenue from leaving China, are driving forces in this latest…
US Gas Prices Rise to New 7-Year-High With No Drop in Sight
U.S. gas prices rose on Columbus Day to $3.27 a gallon, a new 7-year-high. The cost of a gallon keeps rising, with some experts saying no drop is in sight. The primary drive is the climbing price of crude oil, analysts say. That accounts for between 50 percent and 60 percent of the price of gas…
Honeywell Raises Outlook for Business Jet Deliveries as Demand Rebounds
Honeywell International Inc. on Sunday raised its outlook for business jet deliveries, as the aviation sector shakes off the effects of the COVID-19 pandemic and travel picks up with easing restrictions. The U.S. industrial conglomerate forecast up to 7,400 new business jet deliveries worth $238 billion from 2022 to 2031, up 1 percent from the…
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