EMEA Morning Briefing: Stocks to rise past the -2- wall
Russian President Vladimir Putin said Moscow was ready to work towards stabilizing the global energy market, causing a sudden reversal in natural gas prices, which had previously reached their highest level on record.
The Russian leader appeared to show his geopolitical muscles by signaling that he could help alleviate a growing crisis in Europe caused by a shortage of natural gas, a key energy source for generating electricity and heating homes. High prices in Europe have also spilled over into the United States, with natural gas trading at its highest level in more than a decade.
Builders are looking for alternatives to materials in short supply
Shortages of key building materials are forcing some builders and contractors to look to substitutes and seek alternative suppliers as they rush to meet high demand for new housing.
Construction companies are looking for replacements and new sources for everything from wood panels to ceiling joists to pipes, saying potentially higher costs and additional complications in design and construction may be preferable to construction. suspension of a project for months while awaiting planned supplies.
Coal shortages drive up prices and strain economies
HONG KONG- Coal supply shortages are pushing fuel prices to record highs and laying bare the challenges of weaning the global economy from one of its most important and polluting energy sources.
The crisis has many causes, from the post-pandemic boom to supply chain tensions and ambitious carbon reduction targets. And it is expected to last at least all winter, raising fears in many countries of fuel shortages in the coming months.
U.S. private sector payroll jumps in September, ADP says
The numbers: Employment in the US private sector increased by 568,000 in September, according to the ADP national economic report released on Wednesday. The gain was well above the forecasts of economists polled by the Wall Street Journal who expected a gain of 425,000 jobs. This is the biggest gain since June.
Overview: The data is in line with economists’ expectations for Friday’s September employment report from the Labor Department. Economists expect the Labor Department report to show that the economy created 500,000 net jobs in September, up from a disappointing 235,000 jobs in August, according to a Wall Street Journal poll. The unemployment rate is expected to fall to 5.1% from 5.2%.
Bond Investors Don’t Buy Crypto Craze
Bond markets recently held two informal referendums on cryptocurrencies. The results were not pretty.
El Salvador government bonds plunged in mid-September after the Central American nation became the first country to adopt bitcoin as its national currency. Days later, cryptocurrency trading platform Coinbase issued $ 2 billion in corporate bonds, some of which have since lost around 4.5%.
NATO expels eight Russian officials, calling them undeclared intelligence officers
BRUSSELS – The North Atlantic Treaty Organization announced on Wednesday that it was expelling eight members of the Russian delegation from the alliance, calling them undeclared intelligence officers.
Russia’s Foreign Ministry did not immediately respond to a request for comment on the move, which continues a wave of expulsions between Western countries and Russia in recent years as relations have deteriorated. The United States and its allies have expelled dozens of Russian diplomats in response to alleged Moscow covert operations, including cyberattacks, attempts to influence the elections and a failed coup on a former Russian spy in England. Russia retaliated with its own expulsions, accusing the West of worsening relations.
Russia opens investigation into video reports of tortured prisoners
MOSCOW – Russian law enforcement has opened criminal investigations into reports of widespread abuse of prisoners and several prison officials have been sacked in cases which human rights activists say systematic torture in prisons across the country.
The investigation comes after the prison activist group Gulagu.net published images showing abuse, humiliation and beatings in penitentiaries, part of a treasure trove of more than 1,000 videos according to which the organization has been disclosed. The Wall Street Journal could not independently confirm the veracity of the videos.
World’s first malaria vaccine receives WHO support
The World Health Organization on Wednesday recommended the widespread deployment of the world’s first malaria vaccine in young children in sub-Saharan Africa and other at-risk regions, in the hope of reviving the fight against the disease transmitted by mosquitoes that kill over 400,000 people each year. .
The WHO approval – a crucial step in securing more investment in vaccine production and deployment – comes more than three decades after scientists from what is now GlaxoSmithKline PLC began to develop the vaccine.
Boris Johnson says poorly paid migrants are not the answer to labor shortages
MANCHESTER, England-UK Prime Minister Boris Johnson has said he will maintain his government’s commitment to end the influx of low-paid migrant workers despite labor shortages in the country, describing him as a radical change for the UK economy.
Speaking at the Conservative Party’s annual conference, Mr Johnson sought to turn the page on more than a decade of his own party rule, ending heavy immigration, which he said had depressed wages and productivity.
The blocking of EU expansion plans in the Balkans
The European Union has spent years and billions of euros preparing the Balkan countries to join the bloc, an effort the United States has supported in the hope that it would spread stability in a region long in the grip of the bloc. political volatility and sporadic violence.
But with EU leaders meeting with their counterparts of these candidates on Wednesday, the reality is that membership is slipping further into the future, not coming any closer.
Facebook Slows Down New Products For “Reputation Reviews”
Facebook Inc. has delayed rollouts of new products in recent days, people familiar with the matter have said, amid media reports and congressional hearings over a mine of internal documents showing damage to its platforms.
Executives at the social media company have also suspended some work on new and existing products as more than a dozen people are involved in conducting “reputation reviews” to examine how Facebook can be criticized and for s ” ensure that the products do not have a negative impact. children, people said.
Chinese Estates shares win on privatization offer
The shares of Chinese Estates (Holdings) Ltd. rose on the Hong Kong Stock Exchange on Thursday after its majority shareholders offered to privatize the company to protect it from a difficult business environment.
The company, which is controlled by Hong Kong billionaire Joseph Lau and his wife, Chan Hoi-wan, made an offer Wednesday night to buy shares they don’t already own in Chinese Estates for HK $ 1.91 billion. Kong ($ 245.4 million). .
Twitter sells mobile advertising company MoPub to AppLovin for $ 1.05 billion
Twitter Inc. sells mobile advertising company MoPub to AppLovin Corp. for $ 1.05 billion in cash, the company said on Wednesday.
MoPub enables app publishers to earn money by selling ad space on their apps and helps advertisers reach certain audiences on mobile apps, among other offerings.
NASA says Boeing’s Starliner will no longer attempt to launch this year
Boeing Co.’s Starliner spacecraft will no longer be able to attempt a launch this year, NASA officials said on Wednesday, and two astronauts who were supposed to fly on it have been reassigned to a future mission using a SpaceX spacecraft.
Boeing and the National Aeronautics and Space Administration had planned to fly the Starliner, unmanned on board, to the International Space Station last summer. The vehicle, launched into space on a rocket from which it separates, must perform such a test flight before it can attempt to transport astronauts to the facility. Boeing and the space agency postponed a test mission to August because some valves in the Starliner’s propulsion system stuck before launch.
Theranos trial: Former Safeway CEO testifies to failed partnership
SAN JOSE, Calif .– The former senior executive of Safeway Inc. said on Wednesday the grocery chain had relied on promises from Theranos Inc. founder Elizabeth Holmes when she decided to invest more $ 350 million in a partnership with the blood testing company.
The relationship between Ms Holmes and Safeway CEO Steven Burd began with a shared vision to make healthcare more accessible, but it deteriorated as Mr Burd faced the end of his career without nothing to show for the costly pursuit of installing Theranos Clinics in hundreds of stores.
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Major events expected for Thursday
04: 30 / NED: Sep IPC
05: 45 / SWI: Seven Unemployment
06: 00 / DEN: August Industrial production & new orders
06: 00 / NOR: Industrial production index for August
06: 00 / GER: Industrial production index for August
6:00 a.m. / UK: Halifax September Home Price Index
6:00 a.m. / UK: Halifax Home Price Index Q3: UK regional breakdown quarterly
06: 45 / FRA: August Foreign trade
6:45 am / FRA: August Balance of payments
07h00 / SWI: Sept. SNB foreign exchange reserves
07: 00 / AUT: September Wholesale Price Index
07: 00 / CZE: August Industry, Construction
07h00 / CZE: August Foreign trade
08h00 / ICE: Sep Foreign trade, preliminary figures
08: 00 / ITA: August retail sales
8:30 am / UK: second quarter business financial review
09: 00 / CYP: Sep IPC
10: 00 / IRL: August Industrial production and turnover
11:01 p.m. / UK: September BRC-Sensormatic IQ Footfall Monitor
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October 07, 2021 00:19 ET (04:19 GMT)
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