Long-term mortgage rates declined this week amid fresh fears over the effects the new Omicron coronavirus variant might have on the economy, mortgage buyer Freddie Mac reported in its Primary Mortgage Market Survey on Thursday. Freddie Mac’s report is based on first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. According to…
Apple to Temporarily Close Eight Stores Amid Omicron Fears
Apple announced on Dec. 23 that it has temporarily closed at least eight retail stores in the United States and Canada since Dec. 22, as cases of the Omicron variant surged among customers and employees, according to an article from Bloomberg. Apple closed stores in The Gardens Mall in Palm Beach, Dadeland in Miami, Lenox Square…
’95 Percent’ Fully Vaccinated Royal Caribbean Cruise Ship Reports COVID-19 Outbreak
December 23, 2021
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Royal Caribbean’s Odyssey of the Seas won’t dock at the island nations of Aruba and Curacao this week following an onboard COVID-19 outbreak involving some 55 passengers and crew members, the firm said. All passengers aged 12 and older and crew members have to show proof they’ve been fully vaccinated for COVID-19 in order to board…
Champagne Shortage Likely to Push Up Prices of Bubbly Over Holidays
With New Year’s Eve a little over a week away, experts say revelers should brace for higher prices of champagne and difficulty finding the most popular brands amid a global shortage of bubbly. The COVID-19 pandemic has impacted supply chains in various ways, with champagne being the latest casualty. “There actually is a shortage of…
Amazon Limits At-home COVID-19 Test Kits Due to Surge in Demand
December 23, 2021
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Amazon has restricted shoppers from purchasing more than 10 units of COVID-19 test kits following similar actions from other major retailers as the highly-transmissible Omicron variant is now reported to be the dominant strain in the United States. As of Dec. 18, more than 73 percent of new infections are now from the Omicron variant,…
UK Car Plants Have Worst November Since 1984
LONDON—British car manufacturers had their slowest November in 37 years as the sector struggled to cope with the impact of the coronavirus pandemic on global supply chains, industry data showed on Thursday. Car production fell by 28.7 percent compared with November 2021 to 75,756 units, despite a 53 percent increase in electric vehicle output, the…
Is Carnival’s Stock Overvalued or Undervalued?
Carnival Corp. shares have lagged the S&P 500 in 2021, generating a year-to-date total return loss of 5.1 percent. Carnival stock has had a wild ride since the 2020 shutdowns, but investors may be wondering whether there’s any value in Carnival shares after its 2021 pullback. Earnings A price-to-earnings ratio (PE) is one of the…
UK Economy Grew More Slowly Than Thought Before Omicron Hit
LONDON—Britain’s economy grew more slowly than previously thought in the July-September period, before the Omicron variant of the coronavirus posed a further threat to the recovery later in the year, official data showed on Wednesday. Gross domestic product in the world’s fifth-biggest economy increased by 1.1 percent in the third quarter, weaker than a preliminary…
American Airlines Launches Rights Issue Plan to Protect $16.5 Billion Tax Benefit
American Airlines Group Inc. said on Wednesday it was seeking shareholder approval for a rights offering plan to avert any hostile takeovers and preserve a $16.5 billion tax benefit, as the industry grapples with the Omicron coronavirus variant. The No. 1 U.S. airline said it had cumulative U.S. federal net operating loss carryforwards exceeding $16.5…
CVS, Walgreens Limiting Number of At-home COVID-19 Tests Customers Can Buy Amid ‘Unprecedented’ Holiday Demand
CVS Health and Walgreens are limiting the number of at-home COVID-19 testing kits that customers can purchase following “unprecedented” holiday demand for them. The two largest pharmaceutical chain stores in the United States announced the move in separate statements this week, just days before Christmas. “Due to the incredible demand for at-home rapid testing, we put…
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