WASHINGTON—The U.S. Commerce Department said Tuesday a global survey of semiconductor chip producers and users shows a shortage will persist, sparked primarily by wafer production capacity constraints. The voluntary survey of 150 companies last fall in the supply chain confirmed, “there is a significant, persistent mismatch in supply and demand for chips, and respondents did…
US Commerce Department Says Chips Shortage to Persist, Will Review Some Pricing
January 25, 2022
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3M Profit Beats on Demand for Home Improvement, Personal Safety Products
3M Co. reported better-than-expected quarterly revenue and profit on Tuesday, as demand for its home improvement and personal safety products helped offset lower sales in the transportation and electronics unit, which is suffering from supply chain snarls. Shares of the diversified manufacturer rose 2 percent before the bell. The company, the biggest maker of N95…
Pfizer Begins Study Evaluating COVID-19 Vaccine That Targets Omicron Variant
January 25, 2022
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Pfizer and its German partner on Tuesday launched a clinical study that will evaluate an updated version of their COVID-19 vaccine. The updated formulation targets Omicron, a variant of the CCP (Chinese Communist Party) virus. Omicron became dominant in the United States last month; the Pfizer-BioNTech vaccine has proven much less effective, especially against infection, versus the…
Three-Quarters of Small Businesses Hurt by High Inflation: Survey
A new survey by Goldman Sachs paints a picture of U.S. small businesses struggling under the weight of surging prices, hiring woes, supply chain dislocations, and an Omicron-driven fourth wave of infections. The survey, released on Jan. 24 and based on a poll of 1,466 small businesses, shows that 76 percent of respondents said inflation…
Why This BofA Securities Analyst Is Cutting Airline Price Targets
The underlying fundamentals in the airline sector remain challenging. Against this backdrop, investors should focus on quality names such as Delta Air Lines, Inc., rather than those with higher operating and financial leverage like United Airlines Holdings Inc. and American Airlines Group Inc., according to BofA Securities. The Airlines Analyst Andrew Didora reiterated a Buy rating for…
Do Lockdowns Reduce COVID-19 Mortality?
January 24, 2022
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News Analysis Public health experts and politicians around the world have implemented compulsory lockdown policies to curb the COVID-19 infection and death rates. But, have these lockdown measures been successful in reducing mortality from the disease? According to a new study released by Johns Hopkins University, lockdowns have had little to no impact on COVID-19 mortality. As the…
Port Congestion Worsens as Omicron Variant Exacerbates Global Supply Chain Crisis
January 24, 2022
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Omicron outbreaks have exacerbated shipping congestion across the globe, with major Chinese and U.S. ports affected. Experts forecast that supply chain bottlenecks will continue into at least the second half of this year. With a fresh wave of COVID-19 outbreaks spreading in China, Chinese Communist Party (CCP) officials have launched mass lockdowns and testing, driven…
Toyota Extends Production Curbs in Japan as COVID-19 Infections Rise
January 24, 2022
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TOKYO—Toyota Motor Corp. will halt more production in Japan this month because COVID-19 infections among autoworkers had slowed supplies of parts, the company said on Monday. That disruption, which comes amid a shortage of semiconductors, will cut planned production this month by 65,000 vehicles, 18,000 more than it announced last week, a spokesperson said. The…
Japan January Factory Growth Hits Four-Year High, but Services Contract-Flash PMI
TOKYO—Japan’s factory activity grew at the fastest pace in four years in January as output growth picked up, though pressure from a persistent chip shortage, rising input prices, and the coronavirus pandemic clouded the outlook. However, activity in the private sector as a whole slipped into contraction for the first time in four months as…
Eurozone Recovery Stumbled in January as Omicron Hit Services: PMI
LONDON—The eurozone economic recovery weakened this month, despite an upturn in Germany where factories benefited from an easing in supply chain bottlenecks, as renewed restrictions put a dent in the bloc’s dominant services industry, a survey showed. With the Omicron coronavirus variant sweeping across Europe, governments have been encouraging citizens to stay home and avoid…
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