Walmart, the largest retailer in the United States, said on Jan. 5, that it will hire more than 3,000 U.S. delivery drivers to support the expansion of its “InHome” system, part of its “Last-Mile” delivery service to 30 million households. The InHome system allows deliverymen wearing a monitoring camera to enter a customer’s home to deliver…
US Private Payrolls Surpass Expectations for December
U.S. private payrolls increased by 807,000 jobs last month, surpassing expectations and indicating a strong labor market going into the new year. These results come from the latest monthly ADP National Employment Report, which was released on Wednesday. The report relies on data gathered in mid-December, just as the Omicron wave of the CCP (Chinese…
NY Fed Develops New Index to Measure Global Supply Chain Pressure
January 5, 2022
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American supply chainBusiness & EconomyBusinesses in COVID-19economyGlobal supply chain disruptionLocal NewsNew YorkNY NewsRegional-Local Newsreview critical supply chainsUSUS News
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As the world enters uncharted territory with the global pandemic, sudden rise of new variants, widespread uncertainty, and country-wide shutdowns, a group of New York Fed researchers has developed a new index to measure the critical factors underlying all global economic activity—supply chains. The record-high supply chain pressures that have led to high prices, product…
Ford Posts 7 Percent Fall in 2021 US Auto Sales
Ford Motor Co. reported a 6.8percent fall in 2021 U.S. vehicle sales on Wednesday, as the automaker struggled to deliver its cars and trucks due to lingering supply-chain bottlenecks and a global chip shortage. The Detroit automaker sold 1,905,955 vehicles in 2021, ending up behind new U.S. leader Toyota Motor Corp. and rival General Motors…
Fiat Chrysler Reports 2 Percent Drop in Annual US Auto Sales
FCA U.S. LLC reported a drop in U.S. auto sales on Tuesday, as the carmaker grappled with chip shortage issue that forced it to halt production across Europe and the United States. The fourth largest automaker in the world said annual U.S. sales fell by over 2 percent to 1,777,394 vehicles from 1,820,636 a year…
Volvo Cars December Sales Drop as Chip Shortage Persists
STOCKHOLM—Volvo Car Group’s sales fell 18.1 percent in December pressured by the lingering global component shortage, the Sweden-based automaker said on Wednesday. Volvo, which has been heavily impacted by sector-wide supply-chain constraints and semiconductor shortages, warned in November that the chip shortage would continue into 2022. Global sales at the firm fell to 64,436 cars…
Merck Authorizes Indian Pharma Company to Manufacture and Supply Affordable COVID-19 Pills
January 5, 2022
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Business & EconomyBusinesses in COVID-19CCP VirusCompaniescovid-19 pillsDr. Reddy'sIndiamerckmolnupiravirUSUS NewsWorld
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Indian multinational pharmaceutical company, Dr. Reddy’s Laboratories will be launching a generic version of Merck’s COVID-19 oral antiviral medication, molnupiravir, at an extremely affordable treatment rate of 1,400 Rupees ($18.8), 37 times cheaper than in the United States. Dr. Reddy’s “Motflu” will be priced at $0.47 per 200-mg pill, and a treatment consists of a…
IMF Delays Release of New Forecast to January 25 to Factor in COVID-19 Developments
WASHINGTON—The International Monetary Fund will release its World Economic Outlook on Jan. 25, a week later than planned, to factor in the latest COVID-19 developments, a spokesperson for the global lender said on Tuesday, amid signs another downgrade is coming. “The World Economic Outlook update will be launched on January 25 to allow our teams…
Euro Zone Economic Recovery Stumbled in December as Omicron Spread: PMI
LONDON—The euro zone’s economic recovery stuttered in December as a renewed wave of COVID-19 infections curtailed growth in the bloc’s dominant service industry, a survey showed on Wednesday, and could weaken further if tighter restrictions are imposed. As the Omicron coronavirus variant spread rapidly at the end of last year governments reimposed measures to contain…
CCP Pandemic Cost Insurers $44 Billion, the Third Largest in History
COVID-19 was declared to be the third largest cost to insurance companies of any catastrophe in history after Hurricane Katrina and the 9/11 attacks, with losses of up to $44 billion, according to the insurance broker Howden, in a Jan. 4 report on reinsurance renewals. This amount is lower than the initial 2020 projections of $100…
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