Administration wants to increase competition in the meatpacking industry
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(Bloomberg) -- The global semiconductor shortage is hitting one of the industry’s most important gear makers, potentially creating a vicious cycle that will further strain supply to companies from Nissan Motor Co. to Apple Inc.Most Read from BloombergEarly Omicron Breakthroughs Show mRNA Vaccines’ WeaknessWhy Some Vaccinated People Resist Omicron and Others Don’tLate Rout in Tech Sends Nasdaq 100 Into Correction: Markets WrapThailand to Resume Quarantine-Free Tourism as Covid EasesBiden Expects
The chief executive of ASML Holding NV on Wednesday said the company still has not received permission to ship any of its most cutting edge lithography systems, which are necessary to make advanced computer chips, to China. Under pressure from the U.S. government, the Dutch government has withheld granting a licence for ASML to export the machines, which are considered "dual use" goods with possible military applications. CEO Peter Wennink said he thought it unlikely that China would be able to replicate top lithography technology independently because ASML relies on "relentless innovation" and integrating components that are only available from non-Chinese suppliers.
(Bloomberg) -- China, the world’s biggest buyer of liquefied natural gas, kicked off an unprecedented effort to resell its supply, alleviating global fuel shortage fears that have sparked record prices this winter.Most Read from BloombergEarly Omicron Breakthroughs Show MRNA Vaccines’ WeaknessWhy Some Vaccinated People Resist Omicron and Others Don’tBiden Expects Russia to ‘Move In’ on Ukraine; Warns of SanctionsStocks Drop as Selloff Puts Nasdaq Into Correction: Markets WrapIs Covid Becoming En
As oil prices soar in 2022 it is getting increasingly difficult to ignore the fact that the world needs fossil fuels and the companies that provide them are undervalued
- FX Empire
The cryptocurrency market cap has dropped below the $2 trillion mark again as Bitcoin struggles to defend the $40k support level.
- Fort Worth Star-Telegram
At least 400,000 homes and businesses could be impacted.
(Bloomberg) -- The oil market is getting tighter and there may be even less slack in the system than forecasts suggest.Most Read from BloombergEarly Omicron Breakthroughs Show MRNA Vaccines’ WeaknessMicrosoft Buys Scandal-Tainted Activision in Bet on MetaverseStocks Drop as Selloff Puts Nasdaq Into Correction: Markets WrapCovid-19 Infected Lions Prompt Variant Warning in South AfricaFourth Pfizer Dose Is Insufficient to Ward Off Omicron, Israeli Trial SuggestsThe latest outlooks from the Interna
- Miami Herald
Venezuela has doubled its oil production in recent months thanks to Iran and other players that are helping it evade U.S. sanctions, but the country’s industry is now running near the top of its capacity and it is unlikely it could go much higher than current output levels, according to industry analysts.
- Detroit Free Press
A new study shows that wages are not keeping pace with the escalating prices of new and used cars.
The Biden administration is targeting a small group of meat packers for high beef, pork and poultry prices that it says are squeezing consumers and fueling inflation, arguing that they are abusing their market power. The U.S. meatpacking industry is dominated by a few global companies which say prices reflect a surge in demand, pandemic-constrained supplies, and rising costs for labor and transportation. "I think there's probably some truth on both sides," said David Anderson, a livestock economist at Texas A&M University, about the White House's battle with meat processors.
- Delmarva Now | The Daily Times
The Biden administration has painted the meat and poultry industry as the villain for the recent rise in prices in grocery stores.
Global jet fuel demand, however, has again come under pressure with some countries reimposing border restrictions and other curbs to keep the Omicron coronavirus variant at bay, prompting travelers to reconsider their plans. "We saw a little bit more downside momentum on jet fuel due to omicron variant, but combined, we didn't really see a meaningful impact as we exited the year," senior executive Dax Sanders said in the earnings call. Kinder Morgan reported a 48% jump in jet fuel volumes and 7% jump in gasoline, following a year of coronavirus-driven decline.
Oil futures are at seven-year highs and a further push that takes Brent above $90 a barrel could be the straw that breaks the back for a struggling stock market, one chart-watcher warns.
Global inflation - the rate at which prices rise - is at its highest since 2008. Here are seven reasons why.
- NBC News
New cars averaged $10,000 more last month than they did before the pandemic hit, as the auto industry continues to battle supply issues and inventory lows.
(Bloomberg) -- Move over, corn. Most Read from BloombergEarly Omicron Breakthroughs Show mRNA Vaccines’ WeaknessWhy Some Vaccinated People Resist Omicron and Others Don’tLate Rout in Tech Sends Nasdaq 100 Into Correction: Markets WrapThailand to Resume Quarantine-Free Tourism as Covid EasesBiden Expects Russia to ‘Move In’ on Ukraine; Warns of SanctionsAfter months of surging fertilizer prices, America’s biggest crop is set to be unseated by soybeans when it comes to planting size. The less chem
(Reuters) -Goldman Sachs and JPMorgan Chase, Wall Street's premier investment banks, this week informed staff of bumper bonuses for 2021, following a record-breaking year for Wall Street dealmaking. Goldman Sachs increased its annual bonus pool for top-performing investment bankers by 40% to 50%, people with direct knowledge of the matter said. JPMorgan Chase, the largest U.S. bank, increased its annual bonus pool for top-performing investment bankers by 30% to 40%, sources with direct knowledge of the matter said.
- Yahoo Finance
Market bulls should proceed with caution, warns a top strategist at Morgan Stanley.
As China began to crack down on various sectors under the name of common prosperity, growth throughout the second half of 2021 dipped to an estimated 0 to 25 percent.
- Motley Fool
Investments in the electric vehicle (EV) sector should be made with a multi-year, if not decades, time horizon. It will take years for EVs to become a majority in transportation modes, even in the leading markets of Europe and China. In 2021, battery electric vehicle registrations in Germany alone soared 83% year over year, according to German news service Heise Online.