BERLIN—Weaker demand from abroad drove a much bigger than expected drop in German industrial orders, including cars, in October, data showed on Monday, further clouding the growth outlook for manufacturers in Europe’s largest economy. A pandemic-related scarcity of microchips and other electronic components has caused massive supply bottlenecks and production problems in Germany’s mighty automobile…
Weaker Foreign Demand Sinks German Industrial Orders in October
December 6, 2021
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Oil Prices Under Pressure From Both Supply and Demand Factors
November 22, 2021
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LONDON—Oil prices rose on Monday but remained under pressure from rising COVID-19 cases in Europe, raising concerns about both oversupply and weak demand. Prices of the Brent and U.S. West Texas Intermediate (WTI) crude benchmarks fell more than $1 in early trading, hitting their lowest since Oct. 1. By 1007 GMT, Brent was up 31…
Nasdaq Futures at Record High as Economic Concerns Drive Tech Demand
November 19, 2021
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Nasdaq index futures hit a record high on Friday as investors sought economically stable sectors after a small delay in voting on President Joe Biden’s $1.75 trillion spending bill, while rising COVID-19 cases in Europe also dented sentiment. S&P and Dow futures fell tracking losses in banks, airlines, and other economically sensitive sectors. Uncertainty over…
Tyson Foods Sees Upbeat Sales as Meat Prices, Restaurant Demand Jump
November 15, 2021
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Top U.S. meatpacker Tyson Foods Inc. beat quarterly profit estimates on Monday and forecast fiscal 2022 revenue above market expectations on rising meat prices and improving demand from restaurants that have reopened after COVID-19 restrictions. The Springdale, Arkansas-based company reported a double-digit jump in sales and earnings in the fiscal fourth-quarter ended Oct. 2. “We…
Ralph Lauren Warns of Higher Supply Chain Costs to Meet Holiday Demand
November 2, 2021
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Ralph Lauren Corp. said on Tuesday it expects to face higher shipping and commodity costs in the next few months as the high-end apparel maker is spending heavily to ensure stores are stocked with its Polo shirts and sports jackets during the holiday season. The New York-based company’s shares fell 4 percent in morning trade…
US Demand for Oil Surges, Depleting Tanks in Oklahoma
October 27, 2021
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NEW YORK—Crude oil tanks at the Cushing, Oklahoma storage hub are more depleted than they have been in the last three years, and prices of further dated oil contracts suggest they will stay lower for months. U.S. demand for crude among refiners making gasoline and diesel has surged as the economy has recovered from the…
American Airlines Posts Profit Versus Year-Ago Loss as Travel Demand Improves
American Airlines Group Inc. reported a quarterly profit compared to a year-ago loss on Thursday, as easing COVID-19 curbs strengthened travel demand ahead of the peak holiday season. The No.1 U.S. airline reported a net income of $169 million, or 25 cents per share, in the third quarter ended Sept. 30, compared with a loss…
Business Jet Makers Look to Tap Surging Travel Demand at Las Vegas Air Show
LAS VEGAS—Planemakers are unveiling new orders and fresh models at the world’s largest business jet show this week as they aim to cash in on a boom in private travel, but executives warn of headwinds due to a capacity crunch. The National Business Aviation Association (NBAA) show returns to an in-person format starting in Las…
Honeywell Raises Outlook for Business Jet Deliveries as Demand Rebounds
Honeywell International Inc. on Sunday raised its outlook for business jet deliveries, as the aviation sector shakes off the effects of the COVID-19 pandemic and travel picks up with easing restrictions. The U.S. industrial conglomerate forecast up to 7,400 new business jet deliveries worth $238 billion from 2022 to 2031, up 1 percent from the…
Australia’s Trade Surplus Surprises With Record High on Commodity Demand
SYDNEY—Australia’s trade surplus unexpectedly grew to a record in August as strength in liquefied natural gas and coal exports more than offset a pullback in iron ore prices, a windfall to mining profits and tax receipts. Figures from the Australian Bureau of Statistics out on Tuesday showed the surplus on international trade jumped to A$15.1…
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