Goldman Sachs Group Inc.’s profit fell nearly 13 percent and missed expectations on Tuesday as a less volatile equity market hurt trading business and dampened a bumper year for deals, sending the shares of Wall Street’s premier investment bank down 4 percent. Bank earnings have been hurt this quarter by weak trading volumes as the…
Freight Liners Log In Record Profits, Small Businesses Complain of Anti-Competitive Pricing
January 18, 2022
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Business & EconomyBusinesses in COVID-19container shippingEuropeinflationshipping industryshipping rateWorld
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Shipping companies have registered a record $150 billion in profits with prices rising nearly 10 times while small business owners claim that the major container lines are exploiting their monopolistic positions to charge exorbitant fares. In 2021, the spot rate for a 40-foot container from Asia to the United States was priced at over $20,000…
Shipping Companies Log Record Profits, Small Businesses Complain of Anti-Competitive Pricing
January 18, 2022
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Business & EconomyBusinesses in COVID-19container shippingEuropeinflationshipping industryshipping rateWorld
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Shipping companies have registered a record $150 billion in profits with prices rising nearly 10 times while small business owners claim that the major container lines are exploiting their monopolistic positions to charge exorbitant fares. In 2021, the spot rate for a 40-foot container from Asia to the United States was priced at over $20,000…
UK Labour Market Saw Sharp Growth in December Despite Omicron, but Surging Inflation Outstrips Pay Rises
The UK’s labour market experienced sharp growth in December despite a surge in COVID-19 cases linked to the Omicron variant and the British government implementing “Plan B” restrictions, data from the Office for National Statistics showed on Tuesday. Employers added a record 184,000 staff to their payrolls in December, up 409,000 on the February 2020 level before the…
European New Car Sales Down 1.5 Percent in 2021: ACEA
BERLIN—New car registrations in Europe fell 1.5 percent in 2021, even further below the previous record low of 2020 sales, industry data showed on Tuesday. A global semiconductor shortage and other supply chain issues have dampened deliveries of cars globally, with many carmakers sitting on half-finished goods and unable to meet demand. Germany was hardest…
Japan Machinery Orders Rise More Than Expected, Government Welcomes Pick-Up Signs
TOKYO—Japan’s core machinery orders rose for a second straight month in November, government data showed on Monday, a sign that corporate appetite for capital spending remained resilient despite pressure from soaring raw material prices. The gain in core orders, a key indicator of capital expenditure, could be a relief to policymakers hoping for corporate investment…
Global Unemployment Expected to Take Longer to Reach Pre-Pandemic Levels: ILO
January 17, 2022
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Business & EconomyBusinesses in COVID-19CCP ViruseconomyInternationalInternational Labor Organizationlabor market recoveryOmicron variantWorld
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The global labor market will take longer to recover than previously thought, according to a recent report by the International Labour Organization, as the world goes through a pandemic recovery tainted by the response to the Omicron variant. “The International Labour Organization (ILO) has downgraded its forecast for labor market recovery in 2022, projecting a…
Inflation, Supply Crunch, and Omicron Push US Growth Forecasts Down
January 17, 2022
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Business & EconomyBusinesses in COVID-19economyinflationOmicron variantU.S. economic growthUncategorizedUSus inflation issue
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The U.S. economic forecast for the first quarter of 2022 looks dim, as high inflation, supply chain and labor disruptions, and Omicron slow down growth, according to the results from a survey conducted by the Wall Street Journal, of 69 business, academic, and financial forecasters. Annual growth rate predictions for the first quarter have slid to…
Inflation, Supply Crunch, Omicron Push US Growth Forecasts Down
January 17, 2022
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Business & EconomyBusinesses in COVID-19economyinflationOmicron variantU.S. economic growthUncategorizedUSus inflation issue
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The U.S. economic forecast for the first quarter of 2022 looks dim, as high inflation, supply chain and labor disruptions, and Omicron slow down growth, according to results from a survey conducted by The Wall Street Journal of 69 business, academic, and financial forecasters. Annual growth rate predictions for the first quarter have slid to 3…
Firms See Increasing Labor Shortages and Wage Pressures: Bank of Canada Survey
OTTAWA—Canadian firms see labor shortages intensifying and wage pressure increasing, with strong demand growth and supply chain constraints putting upward pressure on prices, a regular Bank of Canada survey said on Monday. The central bank’s Business Outlook Survey Indicator reached its highest level on record in the fourth quarter, which was conducted before the Omicron…
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