FRANKFURT―The recent rise in euro zone inflation has a structural driver in supply disruptions and the European Central Bank has to watch out for any sign of wages increases, ECB vice-president Luis de Guindos said on Monday. The ECB officially expects price growth in the euro zone, which hit 3.4 percent last month, to ease…
ECB’s de Guindos Flags Structural Driver in Inflation Rise
October 4, 2021
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Global Semiconductor Chip Shortage Could See ‘Painful Period’ Extend Into 2022: Marvell CEO
October 4, 2021
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automobilesBusiness & Economychip shortageCompaniesEconomieseconomyelectronicsInvestmentsemiconductor chipsTechTech NewsUSUS News
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The global semiconductor chip shortage that is impacting the production of automobiles and consumer electronics will last until 2022 and possibly beyond, according to the CEO of semiconductor company Marvell Technology. “Right now, every single end market for semiconductors is up simultaneously; I’ve been in this industry 27 years, I’ve never seen that happen,” Marvell CEO…
Inflation ‘Bigger Problem’ Than Fed Believes: Jeremy Siegel
Wharton finance professor Jeremy Siegel said he thinks the Federal Reserve is underestimating the degree to which inflation will be a problem, likely forcing the central bank into a sharper pivot away from stimulus and potentially catching markets off guard. Siegel, known for upbeat forecasts, made the gloomy prediction in an interview on CNBC on…
Dollar Sturdy After 4 Consecutive Weeks of Advances
October 4, 2021
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The dollar consolidated gains against its rivals on Monday after four consecutive weeks of increases as widening concerns about the Chinese property sector and firm U.S. Treasury yields have encouraged hedge funds to ramp up their long positions. After spending the second quarter of 2021 on the back foot the dollar has received a fresh…
Oil Steady Ahead of OPEC+ Supply Policy Meeting
October 4, 2021
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LONDON—Oil was steady on Monday ahead of a meeting by OPEC and its allies which may determine whether a recent rally in prices amid supply shocks and a recovery from the COVID-19 pandemic will be sustained. Brent crude was down 6 cents or 0.1 percent at $79.22 per barrel by 0935 GMT. It rose 1.5…
German Electricity Producer Forced to Shut Down Power Plant After Running out of Coal
The global energy crisis forced one German electricity producer to shut down its power plant last week after it ran out of hard coal. Steag GmbH, which operates six large-scale hard coal plants in Germany, was forced to close its Bergkamen A plant located in the western part of the country due to shortages, a Steag spokesperson told Bloomberg….
Global Shares Retreat After Evergrande Shares Suspended
October 4, 2021
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Global stocks have fallen, with Hong Kong’s benchmark down more than 2 percent after troubled property developer China Evergrande’s shares were suspended from trading. Shares opened lower in Paris, Frankfurt, and Tokyo. U.S. futures also declined. China Evergrande did not say why it suspended its shares, but a Chinese financial news service, Cailian, said another…
Banks, Chipmakers Drag European Stocks Lower on Growth Worries
October 4, 2021
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European stocks struggled on Monday after their worst weekly showing since February, hit by a growing number of risks including signs of inflation, elevated bond yields, and developer China Evergrande’s financial troubles. The pan-European STOXX 600 index fell 0.5 percent, holding near a two-month low hit in last week’s selloff. Banks, chipmakers, and luxury stocks…
Australia to Profit From Global Energy Crunch as Coal Prices Surge
October 4, 2021
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Australia’s resource and energy exports are expected to bring in a record $349 billion (US$253 billion) in 2021-22, according to a new report by the Department of Industry, Science, Energy, and Resources. While iron ore export profits will fall amid crashing iron ore prices, surging demand for thermal and metallurgical coal will drive Australian resource…
The No. 1 Reason Most Businesses Never Scale and Often Fail
By Mike Koenigs The number one reason most businesses never scale and ultimately fail is that they don’t understand who their perfect customer is. In other words, who they want to be a hero for. In this article, I’ll show you how we craft our “Hero Magnet” which leads to being able to craft extremely…
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