Tag: Economies

Air New Zealand Reels From Auckland Curbs, Australia Bubble Loss

October 7, 2021
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Air New Zealand Ltd. is operating less than one-third of its usual domestic capacity due to tough COVID-19 restrictions in Auckland and doubts whether a travel bubble with Australia will reopen, the airline’s chief executive said on Thursday. “We’re running almost 100 percent outside of Auckland,” Air New Zealand CEO Greg Foran told Reuters in…

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Analysts See Ukrainian Inflation Rising Further in September

October 7, 2021
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KYIV—Ukrainian inflation probably accelerated further in September, fuelled by rocketing gas prices on external markets, but it may slow down by the end of 2021 thanks to government and central bank measures, a Reuters monthly poll showed on Thursday. According to the median forecast of Ukrainian analysts, September inflation reached 10.7 percent year-on-year from 10.2 percent…

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Exclusive: Northvolt Plots EV Battery Grab With $750 Million Swedish Lab Plan

October 7, 2021
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STOCKHOLM—Northvolt plans to invest $750 million expanding its laboratory facility in Sweden, a top executive said, to meet soaring demand for lithium-ion batteries as carmakers go electric. As it aims to take on major Asian players such as CATL and LG Chem, Northvolt said it would set up the “first R&D campus covering the entire…

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Bitcoin Rises 7.1 Percent to $55,163

October 7, 2021
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Bitcoin rose 7.11 percent to $55,162.92 at 20:01 GMT on Wednesday, adding $3,661.73 to its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is up 98.9 percent from the year’s low of $27,734 on Jan. 4. Ether, the coin linked to the ethereum blockchain network, rose 2.15 percent to $3,591.72 on Wednesday, adding $75.63…

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Yellen Defends Calling High Inflation ‘Transitory’ Even If It Sticks Around Longer Than Next Few Months

October 7, 2021
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Treasury Secretary Janet Yellen waded into the “transitory” versus “persistent” inflation debate on Tuesday, insisting it’s reasonable to view the current price spike as temporary even if it doesn’t abate within the next few months. “Supply bottlenecks have developed that have caused inflation,” Yellen said an an interview on CNBC’s “Squawk Box” on Oct. 5….

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Dollar Near 14-Month High to Euro, Focus on Inflation

October 7, 2021
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LONDON—The dollar held close to a 14-month high against the euro on Thursday, as a surge in energy prices raised the risk for the U.S. Federal Reserve to act sooner to normalise policy. The U.S. currency was slightly lower at $1.1563 per euro after strengthening to $1.1529 on Wednesday for the first time since July…

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Oil Extends Losses as US Mulls Strategic Reserve Sales

October 7, 2021
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LONDON—Oil prices fell sharply on Thursday, extending losses from the previous session, as the United States said it was considering selling oil from its strategic reserves and as Russia said it was ready to stabilise the natural gas market. Brent crude prices fell $1.24, or 1.5 percent, to $79.84 a barrel by 0918 GMT, after…

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European Shares Rally on Cooling Energy Prices, Construction Sector Gains

October 7, 2021
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European stocks rallied on Thursday, as easing oil and gas prices offered relief to investors worried about runaway inflation, while positive earnings updates in the construction and materials sector added to the upbeat sentiment. The pan-European STOXX 600 index rose 1.0 percent to reverse weekly losses, with buying seen across sectors barring oil & gas….

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Shares Climb Again as Energy Price Dip Eases Stagflation Fears

October 7, 2021
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LONDON—World stock markets got their foot back on the gas on Thursday as hopes grew that Washington could resolve its debt-ceiling squabbles and a global drop in energy prices tempered deepening fears of “stagflation”. Europe’s bourses rallied off 2–1/2-month lows as easing oil and gas prices offered relief after a shock 4 percent drop in…

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Wall Street Ends Higher on Optimism About US Debt-Ceiling Deal

October 7, 2021
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Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December. This would head off a historic default that would…

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