WASHINGTON—The debt burden of the world’s low-income countries rose 12 percent to a record $860 billion in 2020 as countries responded to the COVID-19 crisis with massive fiscal, monetary, and financial stimulus packages, the World Bank said in a report released Monday. World Bank President David Malpass said the report showed a dramatic increase in…
Poor Countries’ Debt Rose 12 Percent to Record $860 Billion in 2020: World Bank
Visits to Shopping Malls Declined 6.5 Percent in September: Report
October 11, 2021
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Visits to top-tier indoor shopping malls across the United States were down by 6.5 percent in September amid rising COVID-19 cases and kids returning to school, according to the September mall index from analytics firm Placer.ai. The mall index focuses on 100 top-tier malls and 100 outdoor centers across the United States. July saw shoppers returning…
Visits to Shopping Malls Fell 6.5 Percent in September: Report
October 11, 2021
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Business & EconomyCompaniesCOVID-19EconomieseconomyFederal Reserveinflationretail industryUSUS Newsvaccinated
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Visits to top-tier indoor shopping malls across the United States fell 6.5 percent in September amid rising COVID-19 cases and as kids returned to school, according to the September mall index from analytics firm Placer.ai. The mall index focuses on 100 top-tier malls and 100 outdoor centers across the United States. Shoppers had returned to malls…
Record-High Organic US Soy Prices Fuel Downstream Food Inflation
U.S. prices for organic soybeans used to feed livestock and manufacture soy milk have surged to record highs, triggering downstream price increases for food like organically raised chicken and coming as global food prices have risen to their highest levels in a decade. Prices for organic soybeans delivered in the U.S. Midwest in September reached…
Consumers Should Expect Higher Food Prices, Says Kraft Heinz Boss
Shoppers should expect to see higher food prices, according to the Kraft Heinz chief. Miguel Patricio said the firm is “raising prices, where necessary, around the world” of products including ketchup and baked beans. Patricio said this was because of a lack of truck drivers in the UK, labor shortages, and an increase in logistics…
UK Business Minister Defends Wages Stance, Says BoE Can Handle Inflation
LONDON—The British government is right to focus on driving up wages, business minister Kwasi Kwarteng said on Sunday, expressing confidence in the Bank of England’s ability to curb rising inflation. BoE governor Andrew Bailey has said he is concerned about inflation running above the bank’s target of 2.0 percent, describing the need to prevent rising…
Futures Dip as Oil Rally Fuels Inflation Worries
October 11, 2021
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U.S. stock index futures slipped on Monday as surging commodity prices added to inflation worries, which could cloud the earnings season set to start with Wall Street banks later this week. Rising raw material costs, labor shortages, and other supply chain bottlenecks have raised concerns of elevated prices denting corporate profit. U.S. oil rose nearly…
Wall Street Rises as Big Tech, Financials Gain
October 11, 2021
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U.S. stock indexes rose on Monday as growth and financial stocks gained, shrugging off inflation worries in the run up to third-quarter earnings reports from later this week. Mega-caps Apple Inc., Tesla Inc., and Microsoft Corp, rose between 0.6 percent and 1 percent, with nine of the 11 major S&P 500 sector indexes trading higher….
Delhi Chief Minister Warns of Power Crisis Due to Coal Shortage
NEW DELHI—Delhi Chief Minister Arvind Kejriwal on Saturday warned of a power crisis in the Indian capital due to a coal shortage, which has already triggered electricity cuts in some of the country’s eastern and northern states. “Delhi could face a power crisis,” Kejriwal said in a tweet in which he also shared a copy…
Cultural Nightlife Sector Has Lost 86,000 Workers Since Start of Pandemic
The UK’s cultural nightlife sector has lost around 86,000 jobs since the pandemic hit, according to new data. A new report commissioned by the Night Time Industries Association (NTIA), which represents more than 1,200 members including nightclubs, bars, and casinos, said the sector was “ravaged” by the pandemic and the restrictions enforced from last March….
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