The UK annual rate of inflation edged down to 3.1% in September, driven by lower foodservice prices. As in other countries, inflation is expected to remain high due to the twin tightening of energy markets and supply chains. Speaking ahead of the release of the data, Andrew Bailey, Governor of the bank of england, said measures may be needed to bring inflationary pressures under control. Some saw it as a sign the central bank will raise interest rates before Christmas, although Mr Bailey suggested he was more concerned with price containment over the medium term.
Jens Weidmann announced he would step down as chairman of the German Bundesbank, a position he has held since 2011. As a prominent hawk on the board of the European Central Bank, Mr Weidmann strongly criticized quantitative easing, saying in 2019 that the BCE had overreacted to the eurozone slowdown. In remarks this week, he warned central bankers “not to lose sight of potential inflationary dangers.”
European gas price surged again, after a closely watched pipeline capacity auction suggested Russia would not increase its bid in the coming weeks. Russia supplied 43% of the European Union’s gas imports last year. The Kremlin denies that it has suspended supplies in order to pressure Germany to certify the Nord Stream 2 pipeline recently completed by Russia. In Germany, a senior Green politician accused Russia of blackmail and said the pipeline should not get a permit.
You’re here posted quarterly records for revenue ($ 13.8 billion) and net income ($ 1.6 billion). The electric car maker delivered the most vehicles in its history during the quarter, overcoming a chip shortage that weighed on sales figures for other automakers.
the first in America bitcoin exchange traded fund listed in New York. Investments are made in Bitcoin futures contracts, not the cryptocurrency itself. The price of a bitcoin has reached a new high, surpassing $ 67,000 for the first time.
Struck by a shortage of coal, which supplies two-thirds of its electricity production, China’s GDP only grew 4.9% in the third quarter, year-on-year. Amid continued blackouts, industrial production rose only 3.1% in September. A wave of covid-19 epidemics, resulting in severe localized lockdowns, has also hit the economy.
Another factor weighing on Chinese GDP is the consequence of Evergrande’s financial problems, a large goods developer. As Evergrande neared a deadline to settle payments, Sinic, another developer, defaulted on a bond. China’s economic data revealed that production in the real estate sector has declined.
The IMF is looking for a new Chief Economist. Gita Gopinath quits her job in January and returns to her academic post at Harvard.
Y viva Spain
Jack Ma reportedly made his first trip abroad – a vacation to Spain – since meeting with regulators in China a year ago and the subsequent government campaign against big tech. The share price of Alibaba, the e-commerce giant founded by Mr. Ma, jumped in response to news that he had been kicked out of the country. The company also unveiled a new chip to boost its cloud computing capabilities.
4.4 million additional subscribers signed up Netflix in the third quarter, bringing its total customer base to 214 million. North America still accounts for the largest share of the streaming service’s revenue, although Europe (and the Middle East) closes the gap in the number of most users: 70.5 million vs. 74 million in North America. Netflix’s production schedule has been disrupted by covid-19 but is now back on track and it will be releasing loads of new content in the months to come. It also acquires the rights to the stories of Roald Dahl.
More than two years after his disastrous attempt to go public with a Initial Public Offering was dropped when its valuation failed to live up to the hype, We work was to make its debut on the stock market through a merger with a special purpose acquisition company. The office supplier no longer offers free beer, but still takes heavy losses.
Italia Trasporto Aereo made its maiden flight as an Italian state airline. A thinner version of Alitalia, which has now stopped working, ITA has the same colors as its predecessor and is fully owned by the government.
Facebook was preparing to change his name to capture his role in the âmetaverse,â which he described as âa new phase of interconnected virtual experiencesâ. Back in the physical world, the company struck a deal with the U.S. government over allegations it illegally booked jobs for immigrants and refused to consider U.S. workers for certain positions.
This article appeared in the The World This Week section of the print edition under the headline “Business”