Fears of stagflation are mounting in China as factory gate prices accelerate, which are costs at which wholesalers buy materials from producers. At the same time, there is a slew of contributing factors.
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In the wake of the Covid-19 pandemic, video-conferencing platforms like Zoom experienced record growth. The numbers showed that there was a 360% revenue growth as hundreds of thousands of users logged onto Zoom for school, work, or social events between friends and family. Such was its popularity that Zoom became a household name, as it bridged the gap between people across the world.
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The global automotive supply chain has been experiencing some difficulties in the past year due to a chip shortage. This will inevitably have an impact on the German car manufacturing industry, as Germany has one of the largest production values in the world and has global connections. The US electric car manufacturing company Tesla announced that it is closing in on its plans to manufacture Model Y cars in a factory near Berlin.
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Market bull and CEO of company Yardeni Research, which provides investment strategies, Ed Yardeni predicts that this coming Christmas season will be one of the best. His prediction rests on the fact that consumers are emerging from the pandemic after nearly a year and a half and thus, feel like spending.
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American Airlines will pay flight attendants 150% premium pay if they choose to work during the Thanksgiving and Christmas holidays. Furthermore, flight attendants can earn 300% premium pay if no absences are taken during peak holiday time between November 15th and January 2nd.
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Samsung Heavy Industries (SHI), a shipbuilding giant based in South Korea, has announced the closure of its Ningbo plant in eastern China. SHI was believed to have agreed to hand over the land of the Ningbo plant to the local Chinese government for industrial renewal.
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In an effort to evade job loss of employees at its Rotherham plant in the UK, Liberty Steel, a global steel manufacturing and mining company, has received an injection of nearly $70 million (£50 million) in shareholder funds into the company. This comes after the company’s major financial service lender, Greensill Capital, filed for insolvency protection earlier this year. These funds will be issued through a separate corporate entity called Liberty Captial.
Read MoreOver the coarse of the pandemic, there has been an increased demand among consumers for electronic products, particularly Samsung products. In an effort to meet demand requests, the Korean tech giant plans to enlarge production lines and build more manufacturing plants in Pakistan, as well hire more workers.
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Prince Abdulaziz bin Salman, Saudi Arabia’s oil minister, has urged fellow producers to tighten the amount of oil released into the market. He fears that additional oil flowing into the market could cause prices to drop. Especially during the pandemic, oil prices have declined due to an increase in the number of people staying home. T
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The Canadian housing market has been experiencing a large surge in demand for larger living spaces, leaving a dwindling supply that has made housing prices climb. In fact, the average price of buying a home in Toronto just surpassed 1 million dollars, which represents a 15% increase just over the past year alone
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