OTTAWA—The Canadian economy most likely underperformed expectations in the third quarter amid ongoing supply chain woes and a brutal drought, official data suggested on Friday, prompting analysts to forecast the Bank of Canada could move slower on rate hikes. The economy expanded by 0.4 percent in August, missing estimates, and looked set to show no…
Canada Economy Seen Weaker Than Expected as Supply Chain Woes Weigh
Amazon’s Holiday-Quarter Forecast Disappoints as Labor, Supply Issues Mount
Amazon.com Inc. on Thursday reported a slump in profit that it expects will continue through the holiday quarter, as higher pay to attract workers and other operational disruptions diminish the company’s windfall from online shopping. Shares fell 4 percent in after-hours trade. After a year of blockbuster results, the world’s largest online retailer is facing…
Puma Raises Outlook Despite Supply Challenges
German sportswear company Puma increased its 2021 sales outlook on Wednesday even as it highlighted supply-chain pressures from a coronavirus lockdown in Vietnam, port congestion, and container shortages. Emer McCarthy reports. German sportswear giant Puma increased its 2021 sales outlook on Wednesday (Oct. 27) despite lingering supply-chain pressures. Factories in Vietnam, a major supplier to…
Germany Cuts 2021 Growth Outlook as Supply Problems, Energy Prices Bite
BERLIN—The German government on Wednesday cut its growth forecast for this year to 2.6 percent but raised its estimate for next year to 4.1 percent as supply bottlenecks for semiconductors and rising energy costs delay the recovery in Europe’s largest economy. Confirming an earlier Reuters report, Economy Minister Peter Altmaier said the economy remained robust…
Global Supply Chain Logjams, Costs in Focus as Restaurant Chains Report Earnings
October 26, 2021
admin
Business & EconomychainsCompaniesearningsEconomieseconomyglobalInternationalRestaurantsupplyUSUS NewsWorld
0 Comment
NEW YORK—Investors hope to gauge the impact of the global supply-chain logjam on restaurant expansion plans when McDonald’s Corp., Starbucks Corp., and Yum Brands Inc. report capital expenditures in their earnings this week. Skyrocketing prices for kitchen equipment—as well as for labor, food, and other goods—are prompting some U.S. restaurant chains to curtail opening plans…
Industrial Giant 3M Lowers Profit Outlook on Supply Chain Woes
3M Co. cut its full-year earnings forecast on Tuesday, as the diversified manufacturer battles rising inflation, supply chain bottlenecks, and higher commodity prices. While demand for goods has rebounded with massive stimulus and the reopening of economies, a labor shortage and soaring raw material prices have left U.S. manufacturers in the lurch. Shares of 3M,…
Oil Prices Edge Lower, Still Close to Highs on Short Supply
October 26, 2021
admin
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyEuropeInternationalLocal NewslowerMarketsMiddle EastOilRegional-Local NewsshortsupplyTexasUSUS NewsWorld
0 Comment
TOKYO—Oil prices edged lower on Tuesday but remained near multi-year highs, supported by a global supply shortage and strong demand in the United States, the world’s biggest consumer. Brent crude was down 55 cents, or 0.6 percent, at $85.44 a barrel by 0922 GMT. U.S. oil dropped 56 cents, or 0.7 percent, to $83.20. “There…
Supply Headaches Sink German Business Morale to Six-Month Low
BERLIN/FRANKFURT—German business morale deteriorated for the fourth month running in October as supply bottlenecks in manufacturing, a spike in energy prices and rising COVID-19 infections are slowing the pace of recovery in Europe’s largest economy from the pandemic. The Ifo institute said on Monday that its business climate index fell to 97.7 from an upwardly…
Blonder Tongue Laboratories Warns On Supply Chain Disruptions After Q3 Performance
Blonder Tongue Laboratories Inc. reported third-quarter FY21 net sales nearly flat year-on-year at $4.17 million. The company said it faced a specific short-term semiconductor supply chain disruption resulting in a material adverse impact on its results. EPS loss of $(0.02) narrowed from $(0.18) last year. The gross margin expanded by 1,831 bps to 35.9 percent….
Daimler CEO Hopes to Stabilize Supply Chain This Quarter
October 23, 2021
admin
Business & EconomyCEOchainCompaniesdaimlerEconomieseconomyEuropeLocal NewsMichiganOla KaelleniusRegional-Local NewssupplyTechUSUS NewsWorld
0 Comment
DETROIT—Daimler AG Chief Executive Ola Kaellenius told Reuters on Friday the automaker hopes to stabilize its supply chain for semiconductors during this quarter, but expects real relief from shortages of chips will not arrive until 2023. Kaellenius, who is visiting Mercedes operations in the United States, said production of Mercedes vehicles during the fourth quarter…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`