U.S. wholesale prices remained high in October and showed signs of accelerating again, the government reported on Nov. 9, as the world’s largest economy battles a wave of inflation. Wholesale Prices May Accelerate Again: Labor Department | IndustryWeek
Tag: Economy
Friday’s jobs report was an optimistic signal after a string of disappointing reports the past few months. As the worst effect of the delta variant waned, hiring picked up—albeit not across every demographic group. However, one group was conspicuously missing from the Bureau of Labor Statistics (BLS) jobs report, as they are every month: Native Americans. The monthly jobs […]
Chinese airlines, many of which rank among the biggest players in the global aviation industry, are gearing up to purchase nearly 10 billion yuan ($1.56 billion) worth of goods and services at the 4th China International Import Expo (CIIE) in Shanghai, despite the headwinds of the industry brought by the COVID-19 pandemic. Deals worth billions […]
IKEA China was fined more than 210,000 yuan ($32,845) for selling substandard bedding products by the market regulator in Shanghai, China Central Television (CCTV) reported, citing a statement published on the regulator’s website. Shanghai regulator fines IKEA 210,000 yuan for selling substandard bedding products – Global Times
Intended deals at the 4th China International Import Expo (CIIE) on energy products will increase by 22 percent from last year’s event, while intended deals for liquefied natural gas (LNG) will double, according to a senior Chinese official. Intended LNG contracts to double at CIIE, as Chinese SOEs step up energy purchase – Global Times
Chinese tech giant Huawei said on Tuesday that it will donate its self-developed openEuler operating system (OS) to the OpenAtom Foundation, China’s first open source foundation, marking the OS’ evolution from a company-led open source project to industrial co-construction and community autonomy. Huawei concept stocks surge following company’s OS donation decision – Global Times
As electric car companies continue to grow rapidly in China, another type of new-energy vehicle (NEV) – hydrogen-powered vehicles, are also starting to join the race. Alongside a silver-colored NEXO car at the Hyundai booth during the fourth China International Import Expo (CIIE), a representative from the South Korean car giant is besieged by all […]
Chinese sportswear brand Erke has established a new industrial company in Central China’s Henan Province, showed Chinese corporation online database Tianyancha. According to online records, the company is being backed with 100 million yuan ($15.63 million) of registered assets. The news quickly went viral on Chinese Twitter-liked social media Sina Weibo and was trending early […]
China’s cash-stripped property giant Evergrande Group has sold 530 million shares in its Hong Kong-listed internet unit HengTen Networks Group over the last three trading days, raising around HK$1.125 billion ($144 million), an exchange filing showed. Evergrande raises $144 million from internet company share sales – Global Times
Kaisa Group Holdings, a Chinese property developer based in Shenzhen, South China’s Guangdong Province, said on Monday that the company is taking actions to address a missed payment on a wealth management product (WMP). Kaisa Group takes measures addressing missed WMP payment – Global Times
Fuel subsidies consumed a whopping $4.7 trillion worldwide in 2015 and are projected to remain large in the near future. Their adverse effects are well known—excessive consumption, adverse environmental consequences, higher inequality, and reduced fiscal capacity for critical expenditures such as health and education. What is less well known is how to address the burden of […]
In the past three years, technological advances have provided about one percentage point of warranted US real wage growth each year – admittedly, only half the rate of earlier times, but still something. Yet, real wages are currently 4% below their warranted value from adding on the underlying fundamental productivity trend to the pre-pandemic real wage Employment […]