BRUSSELS—The European Union is seeing its economic emergence from the unprecedented COVID-19 slowdown hampered by coronavirus-induced staff shortages, supply bottlenecks, runaway energy prices, and subsequent inflation surges. In its winter 2022 forecast, the European Commission said Thursday that even though the economy has rebounded from stunning losses at the height of the pandemic crisis, key…
Dow Subdued at Open as Surprise Jobs Growth Fans Inflation
The Dow opened flat on Friday, as data showing an unexpected jump in U.S. growth in January fanned fears around inflation, countering a boost from Amazon’s results at the end of a volatile week. The Dow Jones Industrial Average was down 15.4 points, or 0.04 percent, at the open to 35,095.74. The S&P 500 rose…
Eurozone Business Growth Lost More Momentum in January as Omicron Hit Demand
LONDON—Eurozone economic growth lost more momentum in January as the bloc’s dominant services industry suffered from subdued demand amid tighter restrictions to contain the Omicron coronavirus variant, a survey showed. Some governments in the currency union have been encouraging citizens to stay at home to try and stop the more virulent variant from spreading while…
Sirius XM Clocks 8 Percent Revenue Growth in FY21 Backed by Subscriber Addons; Declares Special Cash Dividend
Sirius XM Holdings Inc. reported FY21 revenue growth of 8 percent year-on-year to $8.7 billion. Sirius reported fourth-quarter FY21 revenue growth of 4 percent Y/Y to $2.28 billion above the consensus of $2.25 billion. CEO Jennifer Witz said, “2021 was an outstanding year across the board. We added more than one million net new SiriusXM self-pay subscribers…
Akoustis Clocks 96 Percent Sequential Revenue Growth in Q2; Issues Positive Q3 Outlook
Akoustis Technologies Inc. reported second-quarter FY22 revenue growth of 96 percent quarter-on-quarter to $3.67 million, missing the consensus of $3.78 million. “Despite the ongoing macro headwinds presented by both COVID and semi-conductor supply chain shortages, Akoustis was able to achieve record revenue and unit growth in the December quarter and we expect that growth to continue….
Omicron Slows UK Growth to Weakest Since April: CBI
LONDON—British businesses grew at the slowest pace since April 2021 during the past three months, after demand for face-to-face services slumped due to the Omicron variant of coronavirus, the Confederation of British Industry said on Sunday. Britain’s economy only recovered to its pre-pandemic size in November, before being hit by the highly infectious Omicron variant…
Warren Buffett Overtakes Mark Zuckerberg in Wealth Again as Value Bets Shine Over the Growth Story
Veteran value investor and Berkshire Hathaway Inc. CEO Warren Buffett’s net worth on Thursday shot past that of Meta Platforms Inc. CEO Mark Zuckerberg’s, as per the latest data from Bloomberg Billionaires Index. What Happened With a net worth of $111 billion, Buffett ranked sixth among the world’s richest people and passed Zuckerberg who is…
German Economic Growth Expected to Slow Down in 2023
BERLIN—German economic growth will slow down to 2.3 percent in 2023, Economy Minister Robert Habeck said on Friday. The government cut its economic growth forecast for 2022 this month to 3.6 percent from 4.1 percent seen in October. Habeck told the Bundestag lower house of parliament that he expected the economy to reach pre-pandemic levels…
Taiwan GDP Storms to Decade-High in 2021, Fuelled by Strong Exports
Taiwan’s economy grew at the fastest pace in over a decade last year, driven by strong tech exports during the COVID-19 pandemic to feed the prevailing work-and-study-from-home trend. The full-year gross domestic product (GDP) growth in 2021 surpassed the previous forecast of 6.1 percent up to 6.3 percent, fueled by a 4.9 percent year-on-year rise…
German Government Cuts 2022 Economic Growth Forecast to 3.6 Percent
BERLIN—The German government on Wednesday cut its growth forecast for this year, but said that Europe’s biggest economy remains “robust” and will return to its pre-pandemic size in 2022. The Economy Ministry predicted that gross domestic product will grow by 3.6 percent, down from the 4.1 percent Germany’s previous government forecast in late October. The…
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