Insured losses amounting to $44 billion during the pandemic and risks of newer variants popping up increased the strain on risk management companies around the world, said a recent report by international insurance intermediary group Howden. Although enormous losses have been reported so far, Howden said that it still lags far behind the $100 billion…
Insurance Companies Lose $44 Billion During Pandemic
January 14, 2022
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German Economy Short of Pre-Pandemic Level Despite 2.7 Percent Growth in 2021
BERLIN—The German economy failed to return to its pre-pandemic size in 2021 as microchip shortages hit production in the car industry and further COVID-19 restrictions slowed down the recovery of Europe’s largest economy in the final months of the year. Gross domestic product grew 2.7 percent in 2021 after plunging 4.6 percent in the first…
Consumer Sentiment Drops Due to Surging Inflation, Pandemic Woes
Sentiment among American consumers fell in early January, with the University of Michigan’s monthly confidence survey blaming the decline on pandemic worries and concerns about high inflation. The University of Michigan’s Consumer Sentiment index fell to a reading of 68.8 in January from 70.6 in December, bringing the gauge closer to November’s level of 67.4,…
In Reporting Shift, Associated Press Tells Staff to ‘Avoid Emphasizing’ COVID-19 Case Counts
January 14, 2022
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The Associated Press (AP), a wire service used by numerous news outlets, told staffers recently to “avoid emphasizing” COVID-19 case counts in stories after the Omicron virus variant began infecting large numbers of vaccinated people. The AP has written dozens of stories about cases surging in certain areas but has decided to shift its focus due…
Citigroup Maintains Vaccine Mandate Deadline Despite SCOTUS Ruling
January 14, 2022
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Citigroup is standing by its Jan. 14 deadline by which it expects employees to be fully vaccinated or receive an approved exemption, the firm’s head of human resources said in a statement, which came as the Supreme Court overturned the Biden administration’s vaccine-or-test requirement for large businesses. Sara Wechter, Head of Human Resources at Citi,…
Wizz Air Urges EU to Keep ‘Use It or Lose It’ Airport Slot Rule
January 14, 2022
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Europe’s airport slot rules should not be changed to protect legacy airlines, the head of European low cost carrier Wizz Air said on Thursday, adding that if a company could not operate its slots they should be made available to rivals. An easing of the “use it or lose it” rule has allowed legacy carriers…
Australian Businesses Need to Hedge Against ‘Great Resignation’: Research Group
Australian employers—already facing difficulties keeping afloat during the pandemic—will need to hedge against a possible “Great Resignation” that could see a massive shift of employees moving away from their current jobs to new ones. “The experience of the COVID-19 pandemic has given Australians a chance to pause and reflect, and for many, they have actually…
How Many of NJ’s 6,000 ‘Patients with COVID’ Were Actually Hospitalized for Another Reason?
January 13, 2022
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The director of the Centers for Disease Control and Prevention (CDC), Rochelle Walensky, recently caused a stir when she announced 75 percent of COVID deaths were of people with at least four other comorbidities. What’s more, she used this as a basis for promoting the vaccines. What did she actually mean by this statement, and…
Wholesale Prices Rise 0.2 Percent in December With Inflation at a 40-year High
January 13, 2022
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Wholesale prices in the United States rose 0.2 percent in December, with total prices skyrocketing 9.7 percent in 2021, the highest 12-month period on record going back to 2010, according to the producer price index (PPI). This was at half the 0.4 percent Dow Jones estimate, but consumers are still feeling the pinch, with inflation running…
Delta Air Warns of Loss in Current Quarter on Omicron Turbulence
January 13, 2022
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CHICAGO—Delta Air Lines Inc. on Thursday reported higher quarterly earnings on the back of strong holiday travel demand, but warned of a loss in the quarter through March due to turbulence caused by the Omicron coronavirus variant. “Despite expectations for a loss in the March quarter, we remain positioned to generate a healthy profit in…
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