The semiconductor industry is registering impressive numbers for 2021 and 2022, even as global shortages persist, and the scarcity points to the significance and critical importance of chips for numerous end products from cars to appliances and phones. Combined sales from the industry crossed $500 billion last year, and in 2022, is expected to reach…
Semiconductor Chip Industry Will Reach $1 Trillion in a Decade Despite Shortages
January 31, 2022
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UK Businesses Scale Back Pay Plans Despite Higher Inflation: Lloyds
LONDON—British businesses are scaling back plans for pay rises and hiring, but almost half intend to increase the prices they charge customers as they seek to manage rapidly rising costs, a survey showed on Monday. The figures from a monthly Lloyds Bank survey will give mixed signals to the Bank of England on the persistence…
US Department of Agriculture to Fund Port of Oakland Pop-Up Site to Tackle Shipping Delays
January 31, 2022
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Business & EconomyBusinesses in COVID-19Department of AgricultureeconomyExecutive BranchPoliticsshipping delaysUSUS News
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The U.S. Department of Agriculture (USDA) announced on Sunday that it will help fund a new container yard at California’s Port of Oakland in an effort to tackle ongoing shipping delays. “With the delays and disruptions that are occurring, market share is at risk,” U.S. Agriculture Secretary Tom Vilsack told Reuters. A new 25-acre acre “pop-up site”…
US Mask Producers See Decline in Sales as Free N95s Are Made Available for Americans
Many U.S. residents will be able to find free masks at local retailers, pharmacies, and community health centers over the next few weeks following the federal government’s deployment of 400 million N95 masks to the general public from the Strategic National Stockpile. Two days after the Biden administration launched the program on Jan. 19, large…
Leading Executives Fleeing West Australia Due to Strict Border Rules, Restrictions
January 31, 2022
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AustraliaAustralian footballBusiness & EconomyBusinesses in COVID-19CCP VirusInternationalPerthRichard GoyderRob ScottWesfarmersWestern AustraliaWorld
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Leading executives from some of Australia’s largest businesses are fleeing east in response to ongoing delays to re-opening the Western Australian (WA) border. Rob Scott, CEO of AU$60 billion retail group Wesfarmers, will base himself out of the group’s Melbourne office for an “extended period” after saying it was “virtually impossible” to run the conglomerate—which…
Leading Executives Flee Western Australia Due to Strict Border Rules, Restrictions
January 31, 2022
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AustraliaAustralian footballBusiness & EconomyBusinesses in COVID-19CCP VirusInternationalPerthRichard GoyderRob ScottWesfarmersWestern AustraliaWorld
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Leading executives from some of Australia’s largest businesses are fleeing east in response to ongoing delays to re-opening the Western Australian (WA) border. Rob Scott, CEO of AU$60 billion retail group Wesfarmers, will base himself out of the group’s Melbourne office for an “extended period” after saying it was “virtually impossible” to run the conglomerate—which…
H&M Looks Beyond Pandemic With Drive to Double Sales by 2030
STOCKHOLM—Swedish fashion group H&M drew a line under the pandemic on Friday, reporting a bigger than expected jump in quarterly profit and hiking investments with the aim of doubling sales by 2030. Shares in the world’s second-biggest clothing retailer leapt 5 percent in early trade after it said it would double investments in 2022 to…
Lunar New Year Flowers in Flames as Hong Kong Farmer Burns Unsold Stock
January 29, 2022
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HONG KONG—Flower farmer Leung Yat-shen has burned thousands of flowers he cannot sell this year as Hong Kong’s stringent measures against the Omicron variant of coronavirus have halved his Lunar New Year demand. Leung, 70, runs a traditional farm in Hong Kong’s rural Yuen Long district growing sword lilies, water lilies, and tulips. He had…
Western Australia’s Border Shutdown Will Slam Businesses: Industry
Industry experts are warning that businesses in Western Australia (WA) could suffer multi-million dollar losses as a direct result of the WA government’s decision to keep its border sealed to interstate travellers. Travel between WA and other states has been restricted since the start of the pandemic for states that had high cases of COVID-19,…
German Economy Shrank 0.7 Percent in 4th Quarter as COVID-19 Resurged
BERLIN—The German economy shrank by 0.7 percent in last year’s fourth quarter amid a resurgence in coronavirus infections and new restrictions, official figures showed Friday. The quarter-on-quarter decline reported by the Federal Statistical Office followed two quarters of solid gains that came despite persistent supply bottlenecks. Gross domestic product grew 2.8 percent over the whole…
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