TOKYO—Toyota Motor Corp. said it would suspend the night shift operation on Tuesday at one production line at its factory in central Japan due to an outbreak of COVID-19, after it suspended operations there also on Monday night. The suspension comes as the Japanese automaker seeks to boost its production in earnest after COVID-19 lockdowns…
Restaurant Owners Push Ahead Despite Multiple Economic Obstacles
Creating a business is never a simple feat. But creating a business that historically carries hefty start-up costs and minimal profit margins in a fraying economy pockmarked by high inflation, supply chain disruptions, labor shortages, and elevated fuel costs takes the concept of challenging to a new peak. For Ben Pote, who opened the fast…
Restaurant Owners Forge Ahead Amid Multiple Economic Obstacles
Creating a business isn’t a simple feat. Rolling out and maintaining a business that historically carries hefty startup costs and minimal profit margins in a fraying economy marked by high inflation, supply chain disruptions, labor shortages, and elevated fuel costs takes the concept from challenging to another level. Ben Pote, who opened the fast-casual restaurant…
Tenfold Increase in Pilots Complaining of Fatigue in June as Airlines Push to Recoup Lost Revenue: Expert
An increasing number of pilots are complaining of fatigue as airlines across the United States work to make up for lost revenue during the COVID-19 pandemic, according to Allied Pilots Association Communications Chair Dennis Tajer. Allied Pilots Association is the labor union representing American Airlines pilots. Speaking to Fox Business, Tajer said that there was a fourfold increase in…
Maersk Sees Global Supply Chain Woes for Longer; Lifts 2022 Guidance
COPENHAGEN—Maersk raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected. The shipping industry has seen record profits in recent quarters due to a surge in consumer demand and pandemic-related logjams holding up containers in…
Nissan’s Profits Plunge on COVID-19 Lockdown, Chips Crunch
TOKYO—Japanese automaker Nissan’s profit plunged in the last quarter to less than half of what it was a year earlier as the COVID-19 lockdown in China and a global semiconductor shortage slammed production. Nissan Motor Co. reported Thursday that its April–June net profit totaled 47.1 billion yen ($349 million), down from 114.5 billion yen in…
BioNTech, Pfizer Sue CureVac in US Over COVID-19 Vaccine Patent Claims
July 28, 2022
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FRANKFURT—COVID-19 vaccine maker BioNTech said on Tuesday that it and partner Pfizer have filed a complaint with the U.S. District Court in Massachusetts, seeking a judgment that they did not infringe U.S. patents held by rival CureVac. The lawsuit, filed Monday, said CureVac is trying to profit from the success of BioNTech and Pfizer’s COVID-19…
About 45 Percent of Small US Businesses Are Freezing Hiring Amid Soaring Inflation, Labor Costs
July 23, 2022
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Business & MarketsBusinesses in COVID-19Companieseconomyhiring freezepersonal financerecessionsmall business ownersU.S. businessesUS
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About 45 percent of small business owners in the United States are freezing the hiring of new workers because of high labor costs and skyrocketing inflation, according to the Alignable July Hiring Report. A competing survey came up with similar results, interviewing 4,739 small business owners, conducted from late June through mid-July. This is despite 51…
Investing in China Is Becoming More Risky for US and Foreign Companies
July 19, 2022
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American firmsBusiness & MarketsBusiness ColumnistsBusinesses in COVID-19ChinaChina Business & EconomyInvestmentUS-China relations
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News Analysis American and foreign investors in China are experiencing increased risks and lower returns. A candle burning at both ends, the cost of operating in China is increasing, as is the risk. At the same time, a general downturn in the Chinese economy is decreasing investment and preventing consumers from spending money. Harsh economic…
Transit Flush With Cash After Federal Pandemic Bailout, but What Happens Next?
July 19, 2022
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Business & MarketsBusinesses in COVID-19CompanieseconomyFederal Transit Administrationfundingpublic transportation
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Data from the Federal Transit Administration sheds light on how the COVID-19 lockdown crippled public transportation in the U.S. As passengers abandoned public transit during the lockdown, many systems were kept alive by the $69.5 billion the federal government gave transit agencies throughout the country in three relief packages. The transit system that serves the…
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