Toyota has announced that it will extend production stoppages at some factories in Japan and in its component plants in Southeast Asia after the supply chain crisis, initiated by the CCP virus pandemic, forced delays in its manufacturing divisions. A total of 14,000 vehicles will be removed from production in the latest halts for December,…
Toyota Extends Japan Production Stoppages
December 16, 2021
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US Manufacturing Production Near Three-Year High in November
December 16, 2021
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WASHINGTON—Production at U.S. factories increased to its highest level in nearly three years in November as output rose across the board, providing a powerful boost to economy as the year ends. The manufacturing output index climbed 0.7 percent last month to 100.6, the highest level since January 2019, the Federal Reserve said on Thursday. That…
China’s Factories Speed up but New COVID-19 Pain Hits Retailers
BEIJING—China’s factory output grew faster than expected in November, supported by stronger energy production and a moderation in sky-high materials costs, but new curbs to fight rising COVID-19 cases hit retailers in the world’s second-largest economy. The data, along with a slowdown in investment growth, underlines the persistent headwinds facing the economy, which have already…
Stocks Wobble as Wall Street Focuses on Central Banks
December 16, 2021
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Stocks wobbled in morning trading on Wall Street Thursday as investors study moves by central banks to fight rising inflation. The S&P 500 rose 0.1 percent as of 10:20 a.m. Eastern and is hovering around the record high it reached last Friday. The Dow Jones Industrial Average rose 178 points, or 0.5 percent, to 36,102…
European Central Bank to Taper Pandemic Stimulus, but Gently
December 16, 2021
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FRANKFURT, Germany—The European Central Bank decided Thursday to avoid an abrupt end to its pandemic crisis support for the economy as the new omicron variant of COVID-19 stirs uncertainty about the recovery, despite inflation hitting record highs and the U.S. speeding up its stimulus exit. The cautious approach comes as the 19 European Union member…
Major Airline CEOs Say Aircraft ‘Safest Place You Can Be,’ Masks ‘Don’t Add Much’ to Cabin Environment
CEOs of some of the Unites States’ major airlines questioned Wednesday how much wearing masks onboard flights helps to limit exposure to COVID-19, noting that an aircraft is “the safest place you can be.” American Airlines CEO Doug Parker, Southwest Airlines CEO Gary Kelly, and United Airlines CEO Scott Kirby made the comments during a Senate Commerce hearing on…
Recovery Across Germany’s Private Sector Halts in December Amid Latest COVID-19 Wave, Tighter Restrictions
Recovery across the private sector in Germany came to a halt in December as the country moved to contain the latest wave of COVID-19 infections with tighter restrictions, flash purchasing managers’ index (PMI) data from IHS Markit showed on Thursday. The headline Flash Germany PMI Composite Output Index registered 50.0 in December, down from 52.2 in…
Futures Rise as Fed Wages War on Inflation
December 16, 2021
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U.S. stock index futures climbed on Thursday after the Federal Reserve announced a faster wind-down of its pandemic-era stimulus, calming some nerves around surging price pressures. The U.S. central bank said on Wednesday it would end its bond purchases in March and signaled three quarter-percentage-point interest rate hikes by the end of 2022. Fed Chair…
Japan Trade Recovers as Supply Chain Troubles Ease
December 16, 2021
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TOKYO—Japan’s exports jumped 20 percent and imports rose at an even faster pace in November as disruptions to manufacturing supply chains eased. Preliminary trade data reported Thursday showed imports surging nearly 44 percent from a year earlier, pulling the country into a deficit, as surging oil prices pushed costs sharply higher. Iron and steel exports…
World Shares Advance After Fed Steps Up Stimulus Pullback
December 16, 2021
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Stocks have climbed in Europe and Asia, tracking Wall Street’s gains, after the Federal Reserve said it would accelerate its pullback of economic stimulus. Shares surged in Paris, Frankfurt, London, and Tokyo. New York futures and oil prices also advanced. The Fed said it would likely raise interest rates three times next year to tackle…
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