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The latest business and financial news from around the 🌍 with insights from @breakingviews
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Breakingviews - Manscaped SPAC shaves public investors’ consent
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The higher prices seen today are generally related to the pandemic, but some price increases are also being seen more broadly and the risk of higher inflation has increased, Federal Reserve Chair Jerome Powell said. More here:
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Breakingviews - The Exchange: Making nukes greener and friendlier
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Volvo Cars said the global semiconductor shortage is far from over but may at least be past the worst. The outlook came as the Swedish carmaker confirmed a dip in revenue and profit in its first results since listing on the stock market a month ago. More:
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Airlines are starting to feel the effects of the new Omicron variant of COVID-19, with Emirates and easyJet both warning of the risks to travel demand. More here:
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Reuters Business Retweeted
Wall St drops over 1% on Powell's faster taper comments, Omicron worries
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Reuters Business Retweeted
Fed's Powell says risk of higher inflation has increased
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Reuters Business Retweeted
EXCLUSIVE India faces record fertiliser subsidy in 2021/22
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The Omicron variant has panicked markets, but John Stoltzfus of Oppenheimer Asset Management tells @Reuters that pharmaceutical companies are well positioned to adapt
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While the volatility from the Omicron variant led to a wild ride in the markets, investors look for selective opportunities to pounce on while protecting their portfolios as the year-end nears 5/5
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The emergence of the Omicron variant of the coronavirus led airline bosses to voice concern that travel restrictions risked blowing an industry recovery off course, with the strongest warning from Emirates airline President Tim Clark
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In the United States, the Dow Jones fell 237.71 points, or 0.68%, to 34,898.23, the S&P 500 lost 30.51 points, or 0.66%, to 4,624.76 and the Nasdaq dropped 57.57 points, or 0.36%, to 15,725.26 3/5
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MSCI's gauge of stocks across the globe shed 0.39% following broad declines in Europe and Asia. Concerns that the new coronavirus variant would lead to more travel restrictions continued to hammer European travel and leisure stocks 2/5
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Oil prices slid and global stock benchmarks fell after a warning from drugmaker Moderna that existing vaccines are unlikely to be effective against the new coronavirus variant pushed investors into safe havens such as Treasury bonds and the yen 1/5
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Fed's Powell: Appropriate to consider wrapping up taper sooner
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Reuters Business Retweeted
Omicron could hit demand, might not slow inflation-BoE's Mann
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Reuters Business Retweeted
Powell emphasizes that officials will get more data on inflation, employment and hopefully know more about the Omicron variant before the next meeting to inform their decision on taper.
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Reuters Business Retweeted
"It is therefore appropriate, in my view, to consider wrapping up the taper of our asset purchases, which we actually announced at the November meeting, perhaps a few months sooner, and I expect that we will discuss that at our upcoming meeting in a couple of weeks," Powell said.
Powell said it might be appropriate for the Fed to wrap up the bond taper a few months earlier than anticipated, adding officials will discuss the issue when they meet in a few weeks.
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White House to consider Richard Cordray as top Fed banking regulator- WSJ
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