Economic powerhouses Japan and France reported their first cases of the omicron variant Tuesday, while new findings indicate the mutant coronavirus was already in Europe close to a week before South Africa sounded the alarm.
The Netherlands’ RIVM health institute disclosed that patient samples dating from Nov. 19 and 23 were found to contain the variant. It was last Wednesday, Nov. 24, that South African authorities reported the existence of the highly mutated virus to the World Health Organization.
On the day after the Thanksgiving holiday in the US, news that another COVID-19 variant is emerging from South Africa roiled markets across all asset classes.
On Tuesday, Nov. 29, 1910, American inventor Ernest Sirrine received US Patent number 976,939 for his “Street Traffic System,” an early innovation in traffic signaling.
The number of Americans applying for unemployment benefits dropped last week to the lowest level since November 1969, a sign that the US job market is continuing to recover from the COVID-19 pandemic.
In the week ending Nov. 20, filings for initial unemployment benefits fell 71,000 to 199,000, according to data released Wednesday by the Labor Department. https://www.dol.gov/ui/data.pdf
The four-week average of claims declined by 21,000 to just over 252,000 &...
Faced with the rising cost of goods and freight, discount retailer Dollar Tree Inc (Nasdaq: DLTR) plans to increase its baseline price from $1.00 to $1.25.
On Tuesday, the Chesapeake, Virginia-based chain said it has begun marking up merchandise at its 8,000 US stores, the latest sign that higher manufacturing and transportation costs are trickling down to consumers.
You’ve probably heard this already, but if you haven’t started your Christmas shopping, it might be a good idea to do so as soon as possible. Shipping bottlenecks are expected to persist well into 2022, driven by slow capacity growth, a shortage of containers and truckers and the ongoing semiconductor chip crunch, which has limited new truck production for last mile delivery.
These “perfect storm” disruptions have created numerous headaches for shipping and logistics companies. But as is often the case, bad news is good news, especially for investors who have seen shares of container lines surge in the 18 months since the pandemic began.
In September, the US economy added 194,000 jobs, far below consensus analyst expectations of 500,000 jobs. The unemployment rate moved lower to 4.8% from 5.2% in August. Ironically, there are plenty of jobs available for workers, but companies across all sectors report challenging conditions for attracting workers.
The US Centers for Disease Control and Prevention (CDC) extended its COVID-19 safety regulations for the cruise ship industry into January, citing concerns over the highly contagious Delta variant and breakthrough cases among fully vaccinated travelers.
Under the current measures, called a conditional sailing order, cruise lines have been permitted to operate as long as they adhere to certain precautions, such as requiring vaccinations or testing of crew and passengers as well as face masks onboard.
Burger King and Tim Hortons are struggling with a staffing crunch and the Delta variant keeping coffee-loving office workers at home, causing parent Restaurant Brands International Inc (QSR), to miss estimates for quarterly revenue on Monday.
U.S.-listed shares shed 4.4% as same-store sales at its Burger King, Tim Hortons and Popeyes chains came in below expectations in the third quarter.
The number of Americans filing new claims for unemployment benefits dropped to a 19-month low last week, the US Labor Department reported Thursday.
First-time filings for unemployment benefits totaled 290,000 for the week ending Oct. 16, down 6,000 from the previous week. It marks the second week in a row that claims fell below 300,000.
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