LONDON—The euro zone’s economic recovery stuttered in December as a renewed wave of COVID-19 infections curtailed growth in the bloc’s dominant service industry, a survey showed on Wednesday, and could weaken further if tighter restrictions are imposed. As the Omicron coronavirus variant spread rapidly at the end of last year governments reimposed measures to contain…
Euro Zone Economic Recovery Stumbled in December as Omicron Spread: PMI
Damaged Parks, Reduced Holiday Travel Among Impacts of Flood on BC Tourism
VANCOUVER—Parts of British Columbia’s tourism industry are facing another uphill battle with an uncertain recovery horizon after this year’s damaging storms. Some attractions and landmarks were seriously damaged by flooding in November, while highways mangled by mudslides mean some operators will go without the typical holiday bump to their bottom line. Walt Judas, CEO of…
JPMorgan Says 2022 to See Full Global Recovery
December 8, 2021
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LONDON—U.S. investment bank JP Morgan predicted on Wednesday that 2022 will mark the end of the coronavirus pandemic and see a full global economic recovery. Marko Kolanovic, its Chief Global Markets Strategist & Co-Head of Global Research, said the bank expected the U.S. S&P 500 to rise nearly 8 percent to 5050 points, emerging market…
First Members of Military Contingent Arrive in BC to Assist With Flood Recovery
VANCOUVER—A handful of Armed Forces members have arrived in British Columbia, the first of what Prime Minister Justin Trudeau has said could be several hundred troops as the federal government moves to help the province recover from devastating floods. The Canadian Joint Operations Command says nine members of the Edmonton-based 3 Canadian Division Immediate Response…
AmEx Touts Appeal Among Young Users After Profit Beats on Spending Recovery
American Express Co. reported a higher profit that topped Wall Street estimates for the fourth straight quarter, as higher usage of its cards, particularly by millennial and Gen Z customers, fueled a strong recovery in overall spending. After months of stagnation, credit-card issuers like AmEx are starting to see a turnaround in spending with resumption…
United Airlines Posts Smaller Loss, Sees Recovery From Pandemic Gaining Traction
October 20, 2021
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CHICAGO—United Airlines Holdings on Tuesday reported a smaller quarterly loss than a year ago, but a resurgence in coronavirus cases slowed bookings and drove up cancellations, upending the carrier’s plan to return to profit. Chief Executive Scott Kirby, however, said recent headwinds the airline has faced are “turning to tailwinds.” United said it expects revenue…
Oil Prices Climb as COVID-19 Recovery, Power Generators Stoke Demand
October 18, 2021
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LONDON—Oil prices hit multi-year highs on Monday buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation. Brent crude oil futures were up 59 cents, or 0.7 percent, to $85.45 a barrel by 0900 GMT, after hitting $86.04, their highest level since…
Credit Suisse Looks to Recoup Supply Chain Finance Fund Recovery Costs
ZURICH—Credit Suisse is looking to recoup the external costs it is incurring to recover money for investors in its insolvent supply chain finance funds linked to Greensill, the Swiss bank said on Thursday. “The recovery work that (Credit Suisse Asset Management) CSAM is doing on behalf of fund investors inevitably incurs external expenses, which are…
Bitcoin Attempts Recovery as Evergrande-Led Selloff Eases
Cryptocurrency prices bounced off 1–1/2 month lows on Tuesday as a heavy selloff overnight linked to concerns about a possible loan default by property developer China Evergrande eased slightly, but investors braced for more volatility. Bitcoin, the biggest and the best known cryptocurrency, traded around $43,000, recovering from a fall to $40,192 earlier in the…
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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