Shopper footfall across the UK continued to improve in March as many consumers enjoyed their first full month free of COVID-19 restrictions, new figures show. All COVID-19 restrictions in England and Northern Ireland were scrapped in February. Restrictions in Scotland and Wales have also been scaled down significantly. In March, all UK shopping locations enjoyed…
Shopper Footfall and Retail Sales Improve After UK Lifts COVID-19 Curbs
April 8, 2022
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Pfizer Hired 600 Employees Due to ‘Large Increase of Adverse Event Reports’: Document
April 8, 2022
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Pfizer hired 600 employees in the months after its COVID-19 vaccine was authorized in the United States due to the “large increase” of reports of side effects linked to the vaccine, according to a document prepared by the company. Pfizer has “taken a multiple actions to help alleviate the large increase of adverse event reports,”…
Toyota Cuts ’22 US New-Car Sales Industry Outlook on Supply-Chain Issues
April 8, 2022
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DETROIT—Toyota Motor Corp on Wednesday cut its 2022 outlook for the U.S. auto industry’s new-car sales, citing the struggles in the supply-chain caused by the pandemic and the conflict in Ukraine. The Japanese automaker’s new outlook of 15.5 million vehicles was down from its prior forecast of 16.5 million, Bob Carter, executive vice president of…
The Crisis in Housing, Part 1: A Lopsided Market
The Japanese novelist Kobo Abe once wrote, “There is always order in the distant view. No matter how strange the happening, it can never project from the frame, from the order which this distant view possesses.” For the past several years, the U.S. housing market has been seen through the spectrum of a distant view,…
Hit by Staff Shortages, Airlines and Airports Struggle With Travel Recovery
LONDON—Thousands of holidaymakers have seen their Easter getaways disrupted or cancelled because airlines and airports do not have enough staff to meet the recovery in demand as pandemic restrictions are eased in Europe. Low-cost carrier easyJet was one of the worst affected, saying it cancelled around 60 UK flights on Tuesday and expected to pull…
China’s Services Sector Activity Hit Hard by Zero-COVID Policy: Caixin PMI
BEIJING—Activity in China’s services sector contracted at the sharpest pace in two years in March as a surge in coronavirus cases restricted mobility and weighed on demand, a private sector survey showed on Wednesday. The Caixin services Purchasing Managers’ Index (PMI) dived to 42.0 in March from 50.2 in February, dropping below the 50-point mark…
BOJ Kuroda Tones up Warning on Weak Yen, Says Moves ‘Somewhat Rapid’
April 6, 2022
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TOKYO—Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Tuesday the yen’s recent moves were “somewhat rapid”, joining a chorus of policymakers who have warned that sharp falls in the currency could hurt the country’s import-reliant economy. The remark was the strongest warning by Kuroda on yen moves since the currency’s slide to a six-year…
China’s Farmers Face Fertilizer Crunch as COVID-19 Measures Hamper Deliveries
April 1, 2022
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BEIJING—China’s COVID-19 curbs are disrupting the supply of fertilizer to the country’s northeastern bread basket just a month away from spring planting, threatening this year’s corn and soybean crops if not resolved soon. Farmers typically have fertilizer prepared in early April before applying to fields later in the month during planting. But China’s worst outbreak…
China’s Economic Activity Contracts Rapidly Amid Worst COVID Outbreaks in 2 Years
Activities in China’s manufacturing and services sectors contracted quickly in March as local governments locked down major factory and trade hubs to curb the worst resurgence of COVID-19 cases since early 2020. The Caixin/Markit survey showed on April 1 that China’s manufacturing Purchasing Managers’ Index (PMI) shrank to 48.1 in March, indicating the steepest rate of contraction…
China’s Factory Activity Contracts at Fastest Pace in 2 Years Amid Worsening COVID Outbreaks
Activities in China’s manufacturing and services sectors contracted quickly in March as local governments locked down major factory and trade hubs to curb the worst resurgence of COVID-19 cases since early 2020. The Caixin/Markit survey showed on April 1 that China’s manufacturing Purchasing Managers’ Index (PMI) shrank to 48.1 in March, indicating the steepest rate of contraction…
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