The Nasdaq led gains among Wall Street indexes on Wednesday after a robust forecast from Microsoft supported optimism about the third-quarter earnings season, while a decline in oil prices hurt shares of energy companies. The S&P 500 index and the Dow Jones Industrial Average struggled for direction in the first hour of trading, with seven…
Nasdaq Rises After Strong Microsoft Forecast
October 27, 2021
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Deliveroo Upgrades Full-Year Forecast After Strong Third Quarter
LONDON—Food delivery company Deliveroo upgraded its full-year growth forecast on Wednesday after the gross value of its orders in the third quarter increased 58 percent year-on-year, despite lockdown measures easing in most of its markets. The British company, which had performed strongly during lockdowns, said it expected its gross transactional value to rise by 60–70…
Japan’s 3rd Quarter Growth Forecast Trimmed Further on COVID-19 Drag: Poll
TOKYO—Japan’s economy likely grew at a slower pace than previously expected last quarter and faces ongoing risks from soaring raw material prices and coronavirus-linked production and supply disruptions, a Reuters poll of economists showed on Friday. Government and central bank policymakers are hoping a jump in consumer activity put the export-reliant economy firmly on a…
Tesco Defies Supply Chain Challenges to Lift Profit Forecast
LONDON—Tesco, Britain’s biggest retailer, raised its full-year earnings forecast on Wednesday after the unmatched scale of its store and online operations helped it outperform rivals in the first half and deliver a better-than-expected 16.6 percent increase in profit. British retailers are battling supply chain disruptions and labor shortages. Supermarkets also face tough comparisons against record…
IMF Sees Global GDP in 2021 Slightly Below Prior Forecast of 6 Percent
October 5, 2021
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WASHINGTON—The International Monetary Fund expects global economic growth in 2021 to fall slightly below its July forecast of 6 percent, IMF chief Kristalina Georgieva said on Tuesday, citing risks associated with debt, inflation, and divergent economic trends in the wake of the COVID-19 pandemic. Georgieva said the global economy was bouncing back but the pandemic…
Fitch Cuts China 2021 GDP Forecast to +8.1 Percent Vs +8.4 Percent on Property Slowdown
September 23, 2021
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BEIJING—Fitch Ratings said on Sept. 16 that it had cut its 2021 economic growth forecast for China to 8.1 percent from 8.4 percent, citing the impact of the slowdown in the country’s property sector on domestic demand.
FedEx Labor Shortfall Hits Quarterly Profit, Earnings Forecast
U.S. delivery firm FedEx Corp. posted a 7 percent drop in quarterly profit and cut its full-year forecast on Tuesday, after labor shortages crimped earnings, slowed packages and drove up costs ahead of the all-important holiday peak season. Shares in the Memphis, Tennessee-based company fell 4.6 percent to $240.50 in extended trading after FedEx said staffing…
Germany’s Ifo Institute Slashes 2021 GDP Growth Forecast to 2.5 Percent
BERLIN—Germany’s Ifo economic institute has cut its growth forecast for Europe’s largest economy for this year as supply chain disruptions and a scarcity of chips and other intermediate goods are slowing down the recovery from the COVID-19 pandemic. The institute now sees Germany’s gross domestic product (GDP) growing 2.5 percent this year, down 0.8 percentage…
Factbox: Boeing’s Latest Commercial Jet Market Forecast
PARIS—Here are the highlights of Boeing’s annual Commercial Market Outlook (2021-2040) released on Tuesday, compared with the two previous editions. 20-Year Forecast Publication date: 2019 2020 2021 Traffic 4.6 percent 4.0 percent 4.0 percent GDP 2.7 percent 2.5 percent 2.7 percent Starting Fleet 25,830 25,900 25,900* Deliveries 44,040 43,110 43,610 Regional 2,240 2,430 2,390 Single-aisle…
Boeing Raises Jet Demand Forecast on Pandemic Recovery
Boeing revised up long-term demand forecasts on Tuesday, as a snapback in commercial air travel in domestic markets like the United States tempers the more gloomy industry predictions seen at the height of coronavirus lockdowns last year. The rosier view underpins moves by the aerospace giant to prepare for growth in travel demand and military…
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