LONDON—The euro slumped on Friday to near 16-month lows after Austria became the first country in western Europe to reimpose a full lockdown and Germany did not rule out doing the same. The single currency has been on the back foot all week, pressured by growing expectations that interest rates will be tightened faster elsewhere,…
Euro Slumps as Austria Reimposes Lockdown; Dollar Flying High
November 19, 2021
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‘Chronic Underutilization’ of America’s Trucking Capacity Means 40 Pecent Is ‘Left on the Table Every Day’: MIT Expert
An expert from the Massachusetts Institute of Technology (MIT) told lawmakers at a Nov. 17 congressional hearing that holdups at pickup and delivery points are causing a chronic underutilization problem impacting U.S. long-haul truck drivers, leading to 40 percent of America’s trucking capacity being “left on the table every day.” David Correll, a research scientist…
‘Chronic Underutilization’ of America’s Trucking Capacity Means 40 Percent Is ‘Left on the Table Every Day’: MIT Expert
An expert from the Massachusetts Institute of Technology (MIT) told lawmakers at a Nov. 17 congressional hearing that holdups at pickup and delivery points are causing a chronic underutilization problem impacting U.S. long-haul truck drivers, leading to 40 percent of America’s trucking capacity being “left on the table every day.” David Correll, a research scientist…
Oil Drops Below $80 on European COVID-19 Concerns
November 19, 2021
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LONDON—Oil prices dropped below $79 a barrel on Friday as a fresh surge in COVID-19 cases in Europe threatened to slow the economic recovery while investors also weighed a potential release of crude reserves by major economies to cool energy prices. Brent crude was down $2.44, or 3 percent, at $78.80 a barrel by 1110…
World Stocks Struggle Near Record Highs; Europe in Focus
November 19, 2021
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LONDON—Concerns over slowing China growth and a spike in COVID-19 cases in Europe stymied the global equity markets rally on Friday with stocks struggling to cling to recent record highs and the euro looking on track for a second straight week of losses. While U.S. stocks closed at a record high on Thursday, aided by…
Macy’s Shares Surge as Early Moves to Stock up for the Holidays Pay Off
Macy’s Inc. raised its full-year sales and profit outlook on Thursday, signaling the department store chain had sidestepped supply chain snarls and was well stocked for the all-important holiday season. The retailer also beat market estimates for quarterly sales and said it was reviewing a potential spin-off of its e-commerce business, sending its shares soaring…
US Retail Sales at All-Time Highs, but Consumer Sentiment Hits 10-year Low
Investors reacted positively to a strong U.S. retail sales report on Tuesday, but there has been a historic divergence between consumer sentiment and consumer behavior. The Numbers On Tuesday, the Commerce Department reported U.S. retail sales grew 1.7 percent in October, ahead of analyst estimates of 1.5 percent growth. The stronger-than-expected spending numbers come the…
25 Tax Deductions You Can Claim as a Freelancers
Just because freelancers have flexibility and independence doesn’t mean that we don’t get stressed out. Even though we have the option to work from home and set our own hours doesn’t mean that we can slack off. We still have deadlines to meet, clients to network with, and make sure that we get paid on…
Drug, Feed Ingredient Shortages Hit US Livestock Producers
November 19, 2021
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CHICAGO—Michigan dairy farmer Doug Chapin has been unable to buy bottles of veterinary penicillin for his cows for more than a month. In Minnesota, pig farmer Randy Spronk reformulated feed rations due to a shortage of the widely used ingredient lysine, an amino acid that helps livestock grow. Supply-chain disruptions are hitting America’s meat producers…
NY Fed’s Williams Says Inflation Increases Becoming Broader Based
November 19, 2021
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Inflation in the United States is becoming more broad based and expectations for future price increases are rising, a trend policymakers will be watching closely, New York Federal Reserve Bank President John Williams said on Thursday. While some of the price increases seen today are related to the pandemic and imbalances between supply and demand,…
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