TOKYO—A panel led by Japanese Prime Minister Fumio Kishida will compile a proposal in early November for a stimulus package aimed at cushioning the economic impact of the coronavirus pandemic, the economy minister said on Tuesday. The proposal will also include a roadmap of long-term policy priorities such as building more robust supply chains, promoting…
Japan Panel to Propose Stimulus Package Blueprint in Early November
October 26, 2021
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UPS Delivers Profit, Revenue Beat on E-commerce Demand
United Parcel Service Inc. reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery firm to raise shipping prices and cherry-pick more profitable customers. The company also raised its full-year adjusted operating margin target to about 13 percent from about 12.7 percent, ahead of the holiday season….
Euro Zone Banks Raised Bar for Mortgages in Third Quarter, ECB Says
FRANKFURT—Euro zone banks tightened access to mortgages in the three months to September and expect to continue doing so in the final quarter of the year, a European Central Bank survey showed on Tuesday. ECB policymakers are set to take stock of the economic situation at a meeting on Thursday, paving the way for a…
Shipping Problems to Persist Through 2022 Amid Supply Chain Crisis: Economists
October 26, 2021
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Economists expect shipping problems at large ports in the United States as well as the subsequent shortage in goods and price increases to persist into the middle of 2022 amid the ongoing supply chain crisis. Roughly 77 ships are currently waiting outside docks in the Ports of Los Angeles and Long Beach, California, carrying a…
Oil Prices Edge Lower, Still Close to Highs on Short Supply
October 26, 2021
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TOKYO—Oil prices edged lower on Tuesday but remained near multi-year highs, supported by a global supply shortage and strong demand in the United States, the world’s biggest consumer. Brent crude was down 55 cents, or 0.6 percent, at $85.44 a barrel by 0922 GMT. U.S. oil dropped 56 cents, or 0.7 percent, to $83.20. “There…
Stocks Across the World Buoyant on Upbeat Earnings
October 26, 2021
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LONDON/HONG KONG—Shares made slim gains around the world on Tuesday, with upbeat corporate earnings buoying European shares and outweighing recurring worries about China’s property sector. The broad Euro STOXX 600 hit its highest in seven weeks, adding 0.5 percent, with German stocks gaining 0.9 percent. After a stellar quarter for U.S. and British banks, Switzerland’s…
Canada Boosts US Natgas Exports, Drills More as Global Prices Surge
CALGARY, Alberta/NEW YORK—Demand has jumped for relatively cheap Canadian natural gas, driving exports to the United States to three-year highs and prompting producers in Canada to boost capital spending and drilling activity. Global natural gas prices have hit multi-year highs as world economies recover from last year’s slowdown during the pandemic. Now, natural gas stockpiles…
No GM Plants Will Be Closed Due to Chip Shortage on Nov. 1
DETROIT—For the first time in eight months, the global shortage of computer chips won’t force General Motors to close any North American factories. The company said Friday that starting Nov. 1, all plants that had been closed on and off since February because of the shortage will be cranking out vehicles. The nation’s largest automaker…
Inflation Genie out of the Bottle: 5 Questions for the ECB
LONDON—The inflation genie is finally out of its bottle. Now investors are waiting to see whether the European Central Bank (ECB) on Thursday admits that price pressures are too significant to ignore. They will also want an explanation of what that means for its ultra-easy policy stance. Big decisions on the future of the ECB’s…
Diaper, Tissue and Toilet Paper Prices Likely to Rise as Kimberly-Clark Warns of Inflation Pressures
October 26, 2021
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By Paul O’Donnell From The Dallas Morning News Prices of toilet paper, diapers, facial tissues, and paper towels will likely rise in coming weeks as consumer giant Kimberly-Clark warned Monday that inflation and supply chain concerns aren’t “likely to be resolved quickly.” The maker of household items such as Huggies diapers, Kleenex facial tissues, and…
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