JPMorgan Chase announced on Monday that it would be repealing the protective measures instituted to fight the CCP (Chinese Communist Party) virus in the workplace, including mandatory masking, vaccines, and testing. The largest bank in the United States, JPMorgan Chase & Co, made the announcement to its employees via a company-wide memo. “Effective immediately, masking…
US Carriers Lean on ‘Unparalleled’ Travel Demand to Counter Higher Fuel Costs
March 16, 2022
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U.S. carriers on Tuesday said travel demand has roared back after a blip caused by the Omicron coronavirus variant and would remain strong enough to help them offset a run-up in fuel costs with higher fares. Atlanta-based Delta Air Lines Inc. said it was seeing an “unparalleled” increase in demand, resulting in the highest ticket…
China Lockdowns Expected to Worsen Supply Chain Crisis, Inflation Pressures
March 15, 2022
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Lockdowns are spreading throughout China as authorities try to contain fresh outbreaks, despite the country’s COVID Zero strategy. New coronavirus infections are increasing in the mainland, topping 10,000 cases since March 1. Officials have imposed harsh new measures on 51 million people in several key cities with robust manufacturing and tech hubs, including Shenzhen, Langfang,…
Supply Chain Pressures Affect Australian Manufacturers Steady Recovery
March 15, 2022
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While Australian manufacturing has bounced back due to easing COVID-19 restrictions, the recovery faces another major hurdle, labour and material shortages on a scale not seen in almost 50 years. An Australian Chamber Of Commerce And Industry (ACCI)—Westpac survey (pdf) revealed that business conditions modestly improved in the early stages of 2022 despite supply chain…
Apple Supplier Foxconn Halts Operations at Its Shenzhen Sites Due to COVID-19 Lockdown
March 14, 2022
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Foxconn has halted operations in the Chinese business center of Shenzhen after authorities announced a partial lockdown due to a rise in COVID-19 cases across the country, fueled by the highly transmissible Omicron variant. In a March 13 statement, a spokesperson for the Taiwan-based Foxconn, also known as Hon Hai Precision Industry Co., said it was suspending production…
Pfizer CEO: Fourth COVID-19 Vaccine Dose Neccessary
March 13, 2022
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The CEO of Pfizer said Sunday that a fourth dose of the COVID-19 vaccine will be necessary, claiming that it will continue to reduce hospitalizations. “Clearly we are not where we would all like to be, which is [where] COVID is behind us,” CEO Albert Bourla told CBS News. “I think that right now we have…
Pfizer CEO: Fourth COVID-19 Vaccine Dose Necessary
March 13, 2022
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The CEO of Pfizer said Sunday that a fourth dose of the COVID-19 vaccine will be necessary, claiming that it will continue to reduce hospitalizations. “Clearly we are not where we would all like to be, which is [where] COVID is behind us,” CEO Albert Bourla told CBS News. “I think that right now we have…
Toyota to Cut Quarterly Production to Ease Strain on Beleaguered Suppliers
March 12, 2022
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TOKYO—Toyota Motor Corp. will scale back domestic production by up to 20 percent during the months of April, May, and June, it said on Friday, to ease the strain on suppliers struggling with shortages of chips and other parts. The move by Japan’s largest automaker is the latest to spotlight the supply-chain difficulties hobbling the…
Pfizer to Ask US Regulators to Authorize Second Booster Due to Waning Effectiveness: CEO
March 11, 2022
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Pfizer plans to ask U.S. regulators to grant emergency use authorization for a second booster of its COVID-19 vaccine, CEO Albert Bourla said March 11. “Clearly there is a need in an environment of Omicron to boost the immune response,” Bourla said on CNBC’s “Squawk Box.” Pfizer’s vaccine waned over time in protection against both…
Amazon Announces 20-for-1 Stock Split, $10 Billion Share Buyback
March 11, 2022
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Amazon.com Inc. said on Wednesday its board approved a 20-for-1 split of the e-commerce giant’s common stock and authorized a $10 billion buyback plan, sending the company’s shares up 7 percent in extended trading. This is the first stock split by Amazon since 1999 and will give investors 19 additional shares for every share they…
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