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…
Credit Suisse Looks to Recoup Supply Chain Finance Fund Recovery Costs
BOJ Offers Gloomier View on Regional Japan as Supply Curbs Hit Autos
TOKYO—The Bank of Japan (BOJ) offered on Thursday its gloomiest view on regional economies in more than a year as supply constraints disrupted factory output of cars and other products, clouding the outlook for the export-reliant economy. In a quarterly report, the central bank slashed its economic assessment for five of the country’s nine regions—the…
IMF Sees Inflation Subsiding in 2022, Supply Risks May Keep It Elevated
October 6, 2021
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WASHINGTON—The International Monetary Fund said on Wednesday that headline consumer price inflation should peak this fall and recede to pre-pandemic levels by mid-2022, but risks remain that shortage-driven inflation spikes could prove more persistent, unanchoring expectations. The IMF’s baseline forecasts for advanced economies shows headline inflation peaking at 3.6 percent in the fall of 2021…
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…
PepsiCo Warns of Another Price Increase as Supply Disruptions Linger
PepsiCo Inc. said on Tuesday it would likely raise prices again early next year, as it looks to overcome ever increasing supply-chain challenges that include everything from a shortage of Gatorade bottles to a lack of truck drivers. Chief Financial Officer Hugh Johnston told Reuters that PepsiCo had to “scramble” to overcome a shortage of…
German Services Lose Momentum as Catch-Up Effects Wane, Supply Shortages Spill Over: PMI
BERLIN—Germany’s services sector activity continued to grow strongly in September, but the recovery from the COVID-19 pandemic lost momentum as catch-up effects are waning and more companies are affected by supply bottlenecks, a survey showed on Tuesday. IHS Markit’s final Purchasing Managers’ Index (PMI) for the services sector fell to 56.2 from 60.8 in August,…
European Business Growth Hurt by Supply Issues, Pricing in September: PMIs
LONDON—Business growth across Europe remained strong last month but elevated inflationary pressures put a dent in demand while ongoing supply issues constrained activity, issues which are likely to continue, a survey showed on Tuesday. Although many restrictions imposed to contain the coronavirus pandemic have now been lifted in the region, firms are suffering from shortages…
BOJ Debated Risks From Supply Constraints, China Slowdown: September Summary
October 1, 2021
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TOKYO—Bank of Japan (BOJ) policymakers in September saw rising risks to the economy from slowing Chinese growth, semiconductor shortages and Southeast Asian factory shutdowns, a summary of opinion expressed at their monthly rate review showed on Friday. Such heightening external risks could affect the BOJ’s fresh quarterly growth projections, due at its next policy-setting meeting…
H&M’s Sept Sales Hit by Supply Delays After Profit Tops Pre-Pandemic Level
STOCKHOLM—Supply disruptions hampered H&M’s sales in September, the Swedish retailer said on Thursday, after its June-August profit surpassed expectations and pre-pandemic levels. Disruptions to the global economy during the pandemic have upset global supply chains, leading to shortages of goods as well as containers, storage and drivers for the transportation of goods, and causing a…
Oil Climbs for Sixth Day on Supply Concerns, Brent Tops $80
September 28, 2021
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TOKYO—Oil markets climbed for a sixth day on Tuesday, reversing earlier losses, on fears over tight supply while surging prices of liquefied natural gas (LNG) and coal also lent support. Brent crude futures gained $1.05, or 1.3 percent, to $80.58 a barrel at 0645 GMT, after reaching its highest since October 2018 at $80.75 earlier…
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