BOSTON—Global airlines on Monday projected a sharp reduction in industry losses next year as a multi-speed recovery from the coronavirus crisis gets under way, but revised up the financial toll inflicted by the pandemic in 2020 and 2021. The International Air Transport Association, the industry’s main trade body, predicted that net losses at airlines would…
Fed’s Bullard: US Businesses Having No Problems Raising Prices
U.S. businesses are having few problems raising prices on customers for the first time in years, St. Louis Federal Reserve Bank President James Bullard said on Monday, as he warned that inflation could remain elevated for some time to come amid fears higher expectations become entrenched. Bullard’s business contacts in his Fed district and around…
Analysis: Global Natgas Price Surge Looms for United States This Winter
Regional natural gas markets in the United States are seeing prices for this winter surge along with global record highs—suggesting that the energy bills causing headaches in Europe and Asia will hit the world’s top gas producer before long. Gas prices in Europe and Asia have more than tripled this year, causing manufacturers to curtail…
US Factory Orders Increase Solidly as Manufacturing Keeps Humming
WASHINGTON―New orders for U.S.–made goods accelerated in August, pointing to sustained strength in manufacturing even as economic growth appeared to have slowed in the third quarter because of shortages of raw materials and labor. The Commerce Department said on Monday that factory orders increased 1.2 percent in August. Data for July was revised higher to…
OPEC+ Sticks to Plan for Gradual Output Hike, Oil Price Roars Higher
October 4, 2021
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Asia & PacificBusiness & EconomyCompaniesEconomieseconomyEuropeGradualhikeIndiaInternationalMiddle EastOilOPECoutputpriceUSWorld
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LONDON―OPEC+ said on Monday it would stick to an existing pact for a gradual increase in oil output, sending crude prices to three-year highs and adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic. The Organization of the Petroleum Exporting Countries, Russia, and allies, known as OPEC+, have…
Audi CEO Sees Chip Shortage as ‘Perfect Storm’ but Will Get Through It
FRANKFURT—Premium car brand Audi, Volkswagen’s biggest profit contributor, has to troubleshoot on a day-to-day basis to tackle an ongoing shortage of auto chips, its chief executive said. “We had a very strong first half in 2021. We do expect a much weaker second half. We really have trouble,” Markus Duesmann told Reuters ahead of the…
UK Chancellor Not Ruling out Tax Hike Amid Warning of Hitting ‘The Limit’
Chancellor of the Exchequer Rishi Sunak refrained from ruling out future tax rises on Monday as ministers face pressure from their own party to put a lid on taxes. After Prime Minister Boris Johnson declined to rule out tax rises in the upcoming budget last week, senior Conservative Party members have warned the government that…
Delta Air’s Ticket Sales Improve, Reinstates Initial Q3 Revenue View
BOSTON―Delta Air Lines said on Sunday that its ticket sales had stabilized and started to improve, putting it on course to deliver third-quarter revenue within its original forecast for a 30 percent-35 percent drop versus corresponding 2019 levels. This is an improvement from its projection last month when it adjusted the forecast to the lower…
Futures Pressured by Uptick in Yields; Tesla up on Record Deliveries
October 4, 2021
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Business & EconomyChinaChina Business & EconomyCompaniesdeliveriesEconomieseconomyExecutive BranchfuturesMarketsMedia & Big TechPoliticsteslaUSUS Newsyields
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U.S. stock indexes were set to open lower on Monday as most big technology stocks were pressured by an uptick in Treasury yields, while Tesla shares rose after reporting a record number of electric vehicle deliveries. U.S. Treasury yields have been supported by recent data showing increased consumer spending, accelerated factory activity, and elevated inflation…
Analysis: Energy Costs Add to Emerging Central Banks’ Inflation Headache
LONDON―Higher energy prices are fanning inflation in several emerging markets, testing the resolve of their central banks and risking stymieing growth in Hungary, Poland, and the Czech Republic and more currency weakness in Turkey, analysts say. In a bold response to the price pressures, the Czech National Bank (CNB) on Thursday raised its main interest…
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