Groton Selected as Navy awards $642M contract boost for Virginia class submarine work
Groton, CT – General Dynamics Electric Boat Corp. has secured a $642.3 million contract modification to continue design and support work for the Navy’s Virginia class submarine program, the Pentagon announced. Contract…
China’s Shenzhen gets green light for next wave of reforms
SHENZHEN, China – China’s state planner has given its blessing for the southern city of Shenzhen to pursue reforms in areas such as relaxed market access for cross border data trading and…
Japan’s corporate service price index hits 20-year high
TOKYO – An index measuring the prices Japanese firms charge each other for services hit a more than two-decade high in December, a sign inflationary pressure was building on rising freight costs…
Fast-Food Chains Making Massive Changes To Their Value Meals
Fast-food chains are bringing back their value meal deals but making massive changes to eligibility rules and prices. Increasing food costs and labor shortages have caused fast-food giants to reevaluate their value…
ValueAct urges 7-Eleven owner to examine alternative strategies
By Svea Herbst-Bayliss BOSTON -ValueAct Capital has called on 7-Eleven’s owner Seven & i Holdings to listen to shareholder concerns and to consider strategic alternatives, including a possible sale. U.S.-based investment firm…
Canadian farmers face cattle feed shortage due to drought, transport strains
By Rod Nickel WINNIPEG, Manitoba – Canadian farmers say they are just days away from running out of feed for cattle, due to severe drought last summer damaging crops needed to fatten…
Global steel output grows 3.7% in 2021 despite Chinese weakness
LONDON – Global crude steel production gained 3.7% last year to 1.95 billion tonnes, World Steel Association data showed on Tuesday, despite weaker output in top producer China as an energy crunch…
Stock Markets Break Single-Day Record For Volatility
Stock markets broke their single-day record for volatility Monday, having the largest turnaround in 13 years, multiple sources reported. The Dow Jones Industrial Average dropped over 1,000 points Monday before spiking up…
Couple bringing Crave Hot Dogs & BBQ to Atlanta
ATLANTA, GA – Crave Hot Dogs & BBQ is one of the fastest growing fast casual brands to date. The brand is spread across 19 states with no intention of slowing down. Crave…
IMF’s Gopinath says ‘a lot more’ work needed to help countries cut debt risks
WASHINGTON -The Group of 20 countries need to step up their efforts to help low-income countries deal with high levels of debt, the No. 2 official at the International Monetary Fund said…
How a Russian-Ukraine conflict might hit global markets
By Karin Strohecker LONDON – A potential invasion of Ukraine by neighbouring Russia would be felt across a number of markets, from wheat and energy prices and the region’s sovereign dollar bonds…
IMF cuts 2022 Latin America growth forecast; Mexico, Brazil see big hits
By Rodrigo Campos -The International Monetary Fund on Tuesday lowered its 2022 economic growth forecasts for Latin America and its two largest economies, citing inflation, tighter monetary policy and a lower growth…
IMF trims UK growth forecast, sees room for help on energy bills
By David Milliken LONDON -The International Monetary Fund cut its forecast for British economic growth this year due to disruption from the Omicron variant of the coronavirus, labour shortages and high energy…
Mexican economy inches forward in November from October
MEXICO CITY – Mexican economic activity advanced by 0.3% in November from October, official data showed on Tuesday, tapering somewhat the risk that Latin America’s no. 2 economy fell into recession in…
UK manufacturers plan biggest price rises since 1977 – CBI
By David Milliken LONDON -British manufacturers expect to raise prices by the most since 1977 over the next three months, as they wrestle with serious labour shortages and the biggest increase in…
Easing supply bottlenecks give German business ‘glimmer of hope’
By Michael Nienaber BERLIN -German business morale improved in January for the first time in seven months as easing supply bottlenecks brightened the outlook for manufacturers in Europe’s largest economy, promising a…
World Bank berates Lebanon’s elite for ‘zombie’ economy
By Yousef Saba and Nadine Awadalla DUBAI -The World Bank blasted Lebanon’s ruling class on Tuesday for “orchestrating” one of the world’s worst national economic depressions due to their exploitative grip on…
Surging UK inflation erodes room for budget manoeuvres
By Andy Bruce and William Schomberg LONDON -Britain’s government looks firmly on track to borrow less this tax year than forecast but surging inflation will soon curb any leeway for finance minister…
Asset owners pledge to at least halve portfolio emissions by 2030
By Simon Jessop LONDON – A group of the world’s largest asset owners managing $10.4 trillion said on Tuesday they would step up their response to climate change and aimed to at…
China says 2021 fiscal revenues rise 10.7% y/y, boosted by economic recovery
BEIJING -China’s fiscal revenues rose 10.7% in 2021 from a year earlier, bolstered by last year’s economic recovery, Vice Finance Minister Xu Hongcai said on Tuesday, as the government makes 2022 budget…
Major African central banks expected to hold rates this month: Reuters poll
By Vuyani Ndaba JOHANNESBURG – Major central banks in sub-Saharan Africa will leave interest rates unchanged in coming days, starting with Nigeria and Kenya, and followed by Ghana at the end of…
In surprise move, Singapore tightens monetary policy on inflation risks
By Aradhana Aravindan and Anshuman Daga SINGAPORE – Singapore’s central bank tightened its monetary policy settings on Tuesday in its first out-of-cycle move in seven years, as global supply constraints and brisk…
China has confidence to maintain full-year foreign trade operations within reasonable range
BEIJING – China has confidence that it will maintain full-year foreign trade operations within a reasonable range, Li Xingqian, a commerce ministry official told a news conference on Tuesday. (Reporting by Stella…
Japan business lobby shrugs off calls for uniform wage hikes
TOKYO – The head of Japan’s biggest business lobby said on Tuesday that companies must determine wages depending on their own situation rather than in a uniform manner as a prolonged COVID-19…
Australian business confidence bruised by coronavirus surge
SYDNEY – A measure of Australian business confidence has swung into the red as a surge in coronavirus cases hit consumer spending and played havoc with staffing, though sales overall were proving…
As lift-off looms, investors bet Bank of Canada will tame inflation
By Fergal Smith TORONTO – The Canadian bond market is coming to the view that expected multiple interest rate hikes in 2022 by the Bank of Canada, including one potentially this week,…
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