The combination of bottlenecks and robust demand has driven up the prices of all kinds of things, but some of the most striking increases have been the prices of manufactured goods that depend on global supply chains. The Ministry of Labor’s October Consumer Inflation Report showed washer and dryer prices rose 30.1% last month since the start of the pandemic, with furniture prices rising by 12% and the prices of new cars and trucks up 11.3%.
Pension liquidity is shrinking, risking liquidity squeeze
Larger bets in the private market, fears of inflation and a wave of retirees are putting public pension funds at risk of a cash shortage that would force them to sell assets at a loss to pay off pension checks.
Cash allowances have fallen to their lowest level in seven years in funds that manage more than $ 4.5 trillion in retirement savings for teachers, police and firefighters. Public pension funds, which have increasingly turned to illiquid private markets to boost returns, now aim to keep about 0.8% of their holdings in cash, according to data from the Boston College Center for Retirement Research.
Russia rebuts growing US warnings of attack on Ukraine
MOSCOW – The Kremlin has denied that an accumulation of Russian military forces near Ukraine was a prelude to an invasion and accused Washington of destabilizing the region.
Over the past week, US officials gave European allies new information that Washington says shows Russia is building up forces and military assets that could be used to attack Ukraine, two senior diplomats said on Monday. Europeans.
Mallinckrodt drug buyers turned down Chapter 11 asbestos vote survey
A group of creditors claiming that bankrupt drugmaker Mallinckrodt PLC took action that drove up prices lost its offer for a reviewer to be appointed to investigate certain Chapter 11 claims and votes related to the exposure to asbestos.
Judge John Dorsey of U.S. Bankruptcy Court in Wilmington, Del., At a hearing Monday declined to appoint an examiner to consider votes cast on Mallinckrodt’s plan to emerge from Chapter bankruptcy 11 on behalf of thousands of asbestos victims represented by personal injury lawyer Thomas Bevan and other law firms.
Austria’s return to Covid-19 lockdown meets anger and resignation
Austria put its economy under partial lockdown on Monday with the strictest in a series of restrictions spreading across Europe, occasionally encountering violent protests, as governments seek to push back a sharp rise in Covid cases -19 and hospitalizations despite generalized vaccinations.
For at least 20 days, residents will have to stay in their homes and all non-essential businesses will close. The restrictions could be extended if the pressure on hospitals remains acute, the government said. Although the rules include many exceptions – walks, exercise and dog walking are allowed, as are trips to offices, grocery shopping and Christmas trees, and ski police have said that ‘she would apply the lockdown, especially at night.
Novartis rethinks its sales strategy for the launch of a new cholesterol drug
Novartis AG has made a big bet on its new cholesterol-lowering drug. To overcome the delicate market for new heart drugs, it pursues an unconventional strategy that disrupts the launch of traditional drugs.
Rather than seeking to gain the attention of patients and gain the support of individual doctors, the Swiss pharmaceutical giant is focusing on the people who run large hospital systems. His pitch: A large-scale deployment of the drug, called Leqvio, could prevent thousands of heart attacks and strokes.
NetEase Music Unit Launches Discounted $ 452 Million Hong Kong IPO
The music streaming arm of Chinese internet company NetEase Inc. has started taking orders from investors for a small initial public offering in Hong Kong, turning to its parent company and other big backers to supply most of the demand necessary for the conclusion of the agreement.
Cloud Village Inc.’s listing comes at a difficult time for the Chinese tech industry, as government crackdowns and slowing economic growth put pressure on many Chinese tech stocks.
Samsung to choose Taylor, Texas for $ 17 billion chipmaking plant
Samsung Electronics Co. plans to build an estimated $ 17 billion chipmaking plant in Taylor, Texas, according to people familiar with the matter, a mega investment from the South Korean tech giant, as the Biden administration makes pressure for expansion of US semiconductor production. .
An announcement could be made as early as Tuesday, people familiar with the matter said. Governor Greg Abbott is due to make an “economic announcement” Tuesday at 5 p.m. local time.
Macy’s Turns Thanksgiving Parade Balloons Into NFT
Macy’s Inc., best known for hawking clothing, luggage and jewelry, is selling NFTs for the first time.
The retailer is auctioning 10 digital images of its Thanksgiving parade balloons, including a 1940s floating firefighter and a 1970s gold Macy’s star. NFTs, or non-fungible tokens, are digital collectibles that are authenticated using blockchain technology and are typically purchased with cryptocurrencies. They can be saved, shared or sold.
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Major events scheduled for Tuesday
06: 00 / END: Oct. Labor force survey including unemployment
08: 15 / FRA: Nov France Flash PMI
8:30 am / GER: Nov Germany Flash PMI
09h00 / EU: November Flash PMI of the euro zone
9:00 a.m. / POL: October retail sales
9:30 am / UK: Nov UK PMI Flash
10: 00 / MLT: Oct. RPI
11: 00 / FRA: Release of OECD Trade Statistics Q3
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(END) Dow Jones Newswires
November 23, 2021 00:34 ET (05:34 GMT)
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