October, 2021

• 10 October

  Czech turmoil as president in ICU after vote

  

  Bloomberg Czech President Milos Zeman was rushed to the hospital over complications related to his chronic health problems, a development that may snarl government negotiations after his ally suffered a shock election defeat. Zeman, 77, has spent the past years in a wheelchair suffering from diabetes and neuropathy. A staunch supporter of Russia and advocate of deepening ties with China, ...

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• 10 October

  German Greens, Liberals spar over budget matters

  

  Bloomberg Talks to form a three-way coalition government in Germany risk getting bogged down over finance and budget matters, based on divergent policy objectives outlined by leaders of the two junior parties over the weekend. Volker Wissing, secretary-general of the business-friendly FDP, said his party won’t accept tax increases or a loosening of the so-called debt brake, according to a ...

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• 10 October

  Canada’s surprise jobs surge recoups all pandemic losses

  

  Bloomberg Canada has recovered all of the roughly three million jobs lost to Covid-19. The country’s economy added 157,100 jobs in September, returning the labour market to pre-pandemic levels, Statistics Canada said in Ottawa. That compares with economists’ expectation of 60,000 new jobs, according to the median estimate in a Bloomberg survey. The unemployment rate fell to 6.9% from 7.1% ...

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• 10 October

  Brazil’s inflation slows after topping 10% in September

  

  Bloomberg Brazil’s consumer prices rise less than expected in September, supporting the central bank’s view that inflation peaked just above 10% and will start to slow as rising borrowing costs cool down the economy. Inflation accelerated to 10.25% from a year ago, its fastest pace since February 2016, and to 1.16% from the month prior, the national statistics institute reported. ...

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• 10 October

  European factories sound alarm over supply squeeze

  Bloomberg European manufacturers are increasingly strained by global supply-chain problems that are pushing up prices and may last well into next year. A gauge by IHS Markit measuring business activity in manufacturing falls last month by the biggest margin since April 2020 — the beginning of the Covid-19 pandemic. Growth in new orders, output and employment slowed considerably. “Supply issues ...

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• 10 October

  Musk sees output in Germany starting this year amid delays

  

  Bloomberg Elon Musk plans for Tesla Inc.’s electric-car plant near Berlin to start producing vehicles as early as next month even as the US company still awaits final approval for the project that’s been delayed by legal challenges. The factory is to begin making Model Y cars in November or December, Musk said during a visit to the site in ...

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• 10 October

  Sweden’s economy shrinks in August

  Bloomberg Sweden’s economy shrinks far more than anticipated in August, driven by a slump in exports, raising concerns the recovery of the largest Nordic economy may be cut short. Gross domestic product contracted 3.8% in August, the biggest fall since the monthly indicator was launched in February, according to a flash estimate from Statistics Sweden. Economists surveyed by Bloomberg predicted ...

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• 10 October

  UK more vulnerable to financial shocks than most: BOE

  

  Bloomberg The UK is more vulnerable to financial shocks than most other nations, a Bank of England (BOE) study concluded, indicating that openness to trade and banking poses some risks. Britain has more foreign assets and liabilities than any other major economy and relies on trade for 60% of its gross domestic product (GDP), more than the average across other ...

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• 10 October

  Stock investors worry supply chain woes could hit earnings

  

  Bloomberg Reopening demand and marooned containers have caused bottlenecks across supply chains just as the holiday shopping season kicks off in North America. It’s also prompting downgrades across analysts estimates for the upcoming earnings season. Few expect the supply snarls to end this year as an energy crisis stokes inflation fears. Caution abounds in the semiconductor, retail and raw material ...

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• 10 October

  Investors fear talk of taxes in Kishida’s ‘new capitalism’

  

  Bloomberg Fumio Kishida’s first speech to parliament as Japan’s 100th prime minister was an impassioned performance compared to his staid predecessor, but it did little to relieve investor concerns that his talk of redistribution and higher taxes are bad news for stocks. Kishida’s “new form of Japanese capitalism” made up the bulk of his speech, in which he repeated campaign ...

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