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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AMC hopes to boost revenue in 2022 by selling its popcorn at kiosks, food stores, and convenience stores. The Today Show noted that AMC will also offer popcorn ordered from home or bought in “To Go” packages at theaters. The company plans to have fifteen locations by the end of 2022 and more by 2023, but the company has not yet disclosed the price for any of its popcorn products.
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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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The electric car manufacturing giant Tesla reached a trillion-dollar market value last week. Following the announcement that car rental company Hertz would purchase 100,000 Tesla Model 3s, Tesla’s stock price rose 12.7%, raising the company’s market cap past the trillion-dollar mark.
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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.
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The CEO of Kraft Heinz, Miguel Patricio, warns the public that higher food prices are not changing in an
interview with the BBC. Numerous factors have resulted in Heinz, and many other companies, raising their food prices. The biggest contributors being an increase in price of ingredients and a lack of labor internationally.