Heineken said on Feb. 16 that the CCP virus pandemic will affect its revenues for 2022, and that inflation and supply chain pressures are a significant factor. The world’s second largest brewer, whose brands also include Amstel, Tiger, and Moretti, joins its rival Carlsberg in sounding caution over inflationary pressures that threaten to hinder their…
Heineken Warns Inflation Will Lead to Beer Price Increase
February 17, 2022
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Shopify Forecasts Slowing Revenue Growth, Shares Fall
Canada’s Shopify Inc. on Wednesday forecast a slowing pace in first-half revenue growth, indicating the e-commerce boom seen during the pandemic is cooling as retailers shift their focus back to brick-and-mortar stores from online. U.S.-listed shares of the company were down about 6 percent in trading before the bell. Ottawa-based Shopify—which helps merchants set up…
Kraft Heinz Packs Earnings Beat on Raised Prices, Robust Demand
Kraft Heinz Co. posted fourth-quarter sales and earnings above Wall Street expectations on Wednesday, boosted by higher product prices and sustained demand for its packaged foods and condiments. Packaged food makers have been bumping up prices of their products to contend with surging costs of everything from shipping and labor to raw materials such as…
Volkswagen Expects Semiconductor Shortage to Ease in the Second Half of 2022
Volkswagen (VW) said on Feb. 16 that it expects auto production to slow down due to a continued shortage of semiconductor chips in 2022, but that it should be able to ramp up production in the second half of the year. Automakers around the world have been hit by a shortage of semiconductors caused by…
US Airline Travel Rebounded in 2021 But Still Below Pre-Pandemic Numbers
U.S. airline traffic rebounded last year, flying 670.4 million passengers in 2021, with attendance up 83 percent over 2020 levels, according to the Transportation Department on Feb. 14. However, preliminary data showed that airline passenger volume is still below pre-pandemic levels. The report said that U.S. airline companies carried 303.6 million more passengers in 2021,…
US Consumers Views on Long-Term Inflation Eased in January, According to NY Fed Survey
February 16, 2022
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The New York Federal Reserve said on Feb. 14 that American consumer fears of rapidly rising inflation rates in the long term seem to have eased, according to its monthly survey of consumer expectations. Those surveyed hold short-term and medium-term expectations for inflation above pre-pandemic levels. Consumers said they expect the cost of food, rent,…
57th Death Has Railroad Pleading to Stop Dangerous Crossings
February 16, 2022
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FORT LAUDERDALE, Fla.—Brightline trains killed one person and seriously injured another in separate accidents less than 12 hours apart, the latest in a spate of collisions plaguing the higher-speed passenger trains since the railroad recently resumed operations. Tuesday night’s death was the ninth involving Florida’s privately-owned passenger railroad since it resumed operations in November after…
Retail Sales Jump by Forecast-Beating 3.8 Percent, but Experts Point to Weakness Behind the Numbers
U.S. retail sales saw a strong, forecast-beating rebound in January after a sharp pullback in the prior month, though experts cautioned not to read too much into the numbers as seasonal adjustments to the data played an outsized role. American shoppers appeared to hit the shops in droves in January, with the Commerce Department saying…
Retail Sales Jump by Forecast-Beating 3.8 Percent, but Experts Point to Weakness Behind Numbers
February 16, 2022
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U.S. retail sales saw a strong, forecast-beating rebound in January after a sharp pullback in the prior month, although experts cautioned to not read too much into the numbers, as seasonal adjustments to the data played an outsized role. U.S. shoppers appeared to hit the stores in droves in January, with a Feb. 16 Commerce…
ECB Warns About Vulnerable Property Market in Eurozone
FRANKFURT—The property market is a “key vulnerability” for eurozone banks as the rise of remote working since the pandemic dents demand for offices and households take on more debt to buy expensive homes, the European Central Bank said on Wednesday. Central bankers have been ringing alarm bells about the eurozone’s booming property market that has…
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