BERLIN—BMW won’t scale up its own battery cell production for electric cars until the technology has developed further, the German company said on Thursday, taking a more cautious approach than some rivals despite record brand sales in 2021. The automaker, which was also upbeat about hitting the top end of its 9.5 percent–10.5 percent profit…
AstraZeneca Says Its COVID-19 Shot Given as Booster Works Against Omicron
AstraZeneca said its COVID-19 vaccine, called Vaxzevria, generated an antibody response against Omicron when given as a third booster dose to individuals who were earlier inoculated with either AstraZeneca’s shot or an mRNA jab. Citing preliminary data from an ongoing clinical trial, AstraZeneca said in a Jan. 13 statement that its COVID-19 vaccine generated an increased immune…
German Industry Expects Economy to Grow by 3.5 Percent in 2022
BERLIN—Germany’s BDI industry association said on Thursday it expected Europe’s largest economy to grow 3.5 percent this year, giving a more cautious forecast than the government as it warned companies could face another “stop-and-go year” due to the pandemic. “The order books are full, but production is not keeping pace with demand. Pandemic restrictions and…
Weekly Unemployment Claims Jump In Possible Sign of Omicron Hit to Jobs Recovery
January 13, 2022
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The number of American workers filing weekly jobless claims—a proxy for layoffs—rose by 23,000 from the prior week in what could be a sign of an impact from the Omicron surge, though the number of people continuing to claim benefits hit a multi-decade low, suggesting further labor market tightening. First-time filings for unemployment insurance came…
Blackstone Requiring Office Staff to Get COVID-19 Booster Shots
January 13, 2022
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Blackstone Inc., the world’s largest alternative asset manager, is requiring its employees in the United States to get COVID-19 booster shots to work in the office, a spokesperson confirmed to Bloomberg. Workers must get the booster shots “as soon as practically possible,” a spokeswoman said Wednesday. Office workers will need to be tested for the virus…
Cruise Spending Takes a Big Hit From Omicron, Analyst Says January Numbers Will Be Key for Industry
Cruise stocks Carnival Corp., Royal Caribbean Cruises Ltd., and Norwegian Cruise Line Holdings Ltd. are off to a hot start in 2022, but the latest data from Bank of America highlights just how much the omicron variant of COVID-19 has derailed the cruise industry’s recovery in December. What Happened? Bank of America analyst Andrew Didora…
Just Eat Takeaway Maintains 2022 Forecasts as Orders Climb
January 13, 2022
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AMSTERDAM—Just Eat Takeaway.com, Europe’s largest meal delivery company, reported a 14 percent increase in orders in the fourth quarter on Wednesday in line with expectations and maintained its financial forecasts for 2022. In a trading update, the company said it had delivered 273.7 million orders in the fourth quarter of last year, up from 240.4…
Supply Chain Problems and Inflation Dent Online Holiday Sales Growth
January 12, 2022
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Online consumer spending in the United States during the holiday shopping season from Nov. 1 through Dec. 31 was weaker than expected according to Jan. 12 data from Adobe Analytics. Adobe covered more than one trillion visits to U.S. retail websites in its analysis. Continuing pandemic-related issues such as the supply chain crisis, rising inflation,…
Volkswagen’s Skoda Auto Reports 12.6 Percent Drop in 2021 Global Deliveries to 878,200 Cars
PRAGUE—Volkswagen’s Skoda Auto said on Tuesday its global deliveries dropped 12.6 percent year-on-year in 2021 to 878,200 cars as the industry suffered from a semiconductor shortage and the impact of the COVID-19 pandemic. Among its regional markets, the Czech carmaker recorded the steepest fall in China, with deliveries down 58.8 percent to 71,200 cars.
Volkswagen Sales Hit 10-year Low in 2021, BMW Races Ahead
BERLIN—Volkswagen Group posted its lowest sales figures in 10 years in 2021 at 8.9 million deliveries, the carmaker said on Wednesday, and it said it expected supply chain conditions to remain volatile in the first half of this year. By contrast, luxury carmaker BMW saw record deliveries of 2.21 million vehicles from the BMW brand,…
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