LONDON—Oil prices rebounded on Tuesday after a sharp fall in the previous session as investors’ appetite for risk improved, although they remained cautious amid the rapid spread of the Omicron coronavirus variant across the globe. Brent crude was up 84 cents, or 1.2 percent, at $72.36 a barrel by 1117 GMT, and U.S. West Texas…
Analysts Bump up Price Targets on Broadcom
Analysts lifted their price targets on Broadcom Inc., citing deal prospects and demand for its products. Goldman Sachs maintained a Buy and raised the price target from $589 to $670 (7.8 percent upside). Barclays analyst Blayne Curtis raised the price target to $650 from $540 (4.6 percent upside) and kept an Overweight. The company’s next…
Experts Count Coffee Trees in Brazil as Prices Hit 10-year Highs
December 14, 2021
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NEW YORK/SAO PAULO—Coffee experts working for commodity trading houses are taking to the narrow, winding roads in Brazil’s Minas Gerais state as they tour the coffee belt checking 2022 crop prospects just as prices approach the highest levels in 10 years. This has been a difficult year for coffee farming in Brazil, the world’s largest…
Thanksgiving Turkey Costs Soar Nearly 16 Percent From Last Year
Americans are paying more for Thanksgiving turkeys this year, with a new survey from NielsenIQ indicating that turkey prices have risen nearly 16 percent compared to a year ago. According to NielsenIQ data, the price of whole uncooked turkeys in the four weeks before Nov. 6 rose 15.6 percent from the same period in 2020….
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…
Report Says Drugmakers Impose Unjustified US Price Increases; Spending on AbbVie Drug Rises $1.4 Billion
WASHINGTON—Drugmakers hiked U.S. prices on 7 of the 10 costliest prescription drugs in 2020 without justification, increasing drug spending by $1.67 billion, a U.S. group that reviews the value of medicines said on Tuesday. AbbVie Inc.’s widely used Humira rheumatoid arthritis drug accounted for the majority of the spending increase, with a net price increase…
Euro Zone October Factory Growth Hurt by Supply Woes, Price Pressures: PMI
November 2, 2021
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LONDON—Euro zone manufacturing activity remained strong last month but was curtailed by supply chain bottlenecks and logistical problems which sent input costs soaring, a survey showed on Tuesday. Ongoing disruptions caused by the coronavirus pandemic, alongside a shortage of heavy goods vehicle drivers, has caused product shortages and left factories struggling to get the raw…
Mechanics Notice Some Auto Parts Becoming Scarce
Settled in 1806, Mechanicsburg, Pennsylvania was named for a settlement of mechanics who built and repaired Conestoga wagons. One can imagine mechanics handcrafting custom parts for wagon repair. Today, the mechanics of Mechanicsburg work on cars and get parts from various suppliers, but lately, access to auto parts has been a bit hit and miss….
US New Home Sales Hit Six-Month High; Median Price Stays Above $400,000
WASHINGTON—Sales of new U.S. single-family homes surged to a six-month high in September, but higher house price are making homeownership less affordable for some first-time buyers. New home sales jumped 14.0 percent to a seasonally adjusted annual rate of 800,000 units last month, the highest level since March, the Commerce Department said on Tuesday. August’s…
EU Countries Split Over Joint Response to Energy Price Spike
LUXEMBOURG—European Union countries failed to agree on a bloc-wide response to surging energy prices in an emergency meeting of government ministers on Tuesday, with some countries seeking a regulatory overhaul and others firmly opposed. European gas prices have hit record highs this autumn and remain at lofty levels, prompting most EU countries to respond with…
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