Members of the United Auto Workers (UAW) overwhelmingly rejected a new tentative agreement with Deere & Co. on Sunday. The tentative agreement was a six-year contract that would have covered more than 10,000 workers at 14 facilities across the United States, including more than 7,000 workers in Iowa, and was the result of efforts made by UAW negotiators….
Union Members Reject Tentative Agreement With John Deere After Months of Negotiations
October 11, 2021
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Rising Business Costs and Consumer Inflation in Focus as Earnings Season Kicks Off
As the third-quarter corporate earnings season gets underway this week, markets are about to get a sense of the degree to which rising business input costs were absorbed by firms and pulled down their bottom lines. Nineteen S&P 500 firms report earnings this week starting with the big banks. According to Refinitiv IBES forecasts, profit…
Japanese Automakers’ China Car Sales Tumble in September
October 11, 2021
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BEIJING—Japanese automakers Honda Motor Co. Ltd, Nissan Motor Co. Ltd, and Toyota Motor Corp. saw their sales in China tumble in September as a chip shortage hit vehicle production in the world’s biggest car market. Honda said it sold 121,448 vehicles in China last month, down 28 percent from a year earlier due to the…
San Francisco Fed’s Daly: Too Soon to Say Job Market ‘Stalling’
October 11, 2021
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The U.S. job market will continue to feel the effects of COVID-19, but it is too soon to say it is “stalling,” San Francisco Federal Reserve President Mary Daly said on Sunday. “It’s going to have these ups and downs, especially with the Delta variant,” Daly said on the CBS weekend news program “Face the…
Crude Jumps on Global Energy Crunch; US Oil at 7-Year High
October 11, 2021
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LONDON—Oil prices rose 2 percent on Monday, extending multiweek gains as an energy crisis gripping major economies shows no sign of easing amid a pick up in economic activity and restrained supplies from major producers. Brent crude was up $1.62 cents, or 2 percent, at $84.01 a barrel by 0914 GMT, The highest level since…
Dollar Hits Highest Vs Yen in Nearly 3 Years as Markets Retain Fed Taper Bets
October 11, 2021
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LONDON—The dollar rose to its highest in nearly three years versus the yen on Monday as investors remained confident the U.S. Federal Reserve will announce a tapering of its massive bond-buying next month despite softer U.S. payrolls figures. The jobs data released on Friday pushed U.S. bond yields higher, and so the yen, which is…
European Stocks Slip on Rate, Earnings Jitters
October 11, 2021
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European stocks kicked off the week slightly lower on Monday as nerves around inflation and the upcoming earnings season offset surging commodity prices that supported oil and mining shares. The pan-European STOXX 600 index slipped 0.4 percent in morning trading, with travel & leisure and real estate stocks the biggest decliners. “There is still real…
Rising Yields Lift Dollar as Oil Surges
October 11, 2021
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LONDON/SYDNEY—World shares edged higher on Monday courtesy of gains in China, while rising Treasury yields lifted the dollar to a near three-year peak against the Japanese yen. Brent oil prices extended their bull run to reach ground last visited in late 2018, with gains across the energy complex stoking inflation concerns. “Higher energy prices, shortages…
Surging Oil Prices Lift Material, Energy Stocks on Wall Street
October 11, 2021
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NEW YORK/LONDON—Oil prices surged again on Monday to multi-year peaks, giving a fillip to materials and energy shares and helping U.S. stocks to reverse early declines as investors looked past stagflation risks for now. U.S. crude jumped 2.28 percent to $81.16 per barrel, a level not seen since late 2014, and Brent rallied 1.9 percent…
Stagflation Fears Stalk Shares, Rising Yields Lift Dollar
October 11, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesDollarEconomieseconomyEuropeInternationalInvestmentLocal NewsMarket WatchMarketsMiddle EastNew YorkNY NewsOilRegional-Local NewsSharesstagflationSurgesUKUSUS NewsWorldyields
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LONDON—Stagflation jitters stunted growth in global shares on Monday, while bets that major central banks will tighten monetary policy pushed up bond yields and lifted the dollar to a near three-year peak against the Japanese yen. Brent oil prices extended their bull run to reach ground last visited in late 2018, with gains across the…
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