Euro Area and EU Posts a 2.7% Jump in Industrial Producer Prices in September
(Eurostat) Industrial producer prices rose by 2.7% in the euro area and EU in September from August. On a year over year basis, the producer prices were up by 16%…
UK Construction Sector Gathers Pace in October but Supply Chain Challenges Persist
(IHS Markit) UK Construction PMI was 54.6 in October, an increase from an eight-month low of 52.6 in September. Construction activity was curtailed by supply constraints and input inflation, although…
Eurozone Economy Cools Despite Employment High Employment Rate
(IHS Markit) The Eurozone output growth in the services and manufacturing sector grew at the slowest pace in six months in October, with the output index dropping to 54.2 from…
Roche Agrees to Buy Voting Stake in Novartis for $20.7 Billion
(Novartis) Roche will buy its almost one-third voting right or 53.3 million shares in rival Novartis AG for $20.7 billion. The shares, priced at $388.99 or 356.93 Swiss francs, means…
Fed to Taper Monthly Bond Purchases by $15B From Nov. As the Economy Rebound
(Federal Reserve) The Federal Reserve will begin reducing the $120 billion monthly bond purchases by $15 billion later this month following traction in economic recovery. The Federal Open Market Committee…
Crude Inventories Increase by 3.3M Barrels but Refinery Inputs Fall
(EIA) US crude oil inventories rose by 3.3 million barrels in the week that ended October 29 to reach 434.1 million barrels. Refinery inputs fell by 25,000 bpd, to average…
Manufactured Goods Orders Cools to a 0.2% Increase in September
(Census Bureau) New orders for manufactured goods in the US increased by 0.2% or $1.3 billion from August to reach $515.9 billion in September. The orders had risen by 1.0%…
US Business Activity Hits a 3-Month High in October on Robust Client Demand
(IHS Markit) US Services PMI was at a three-month high in October, with the PMI reaching 58.7, up from September’s 54.9. The improvement in service business activity in October reflected…
CBA Partners With Gemini, Chainalysis to Provide Crypto Services
(CBA) The Commonwealth Bank of Australia is collaborating with Chainalysis and Gemini to enable it to become the first Australian bank to offer direct crypto services. The partnership will create…
US Private Sector Shakes off Delta Variant Concerns to Add 571,000 Jobs in October
(ADP National Employment) US private sector employment jumped by 571,000 in October from September underlining robust recoveries from slowdowns caused by the Delta variant. Large businesses contributed the highest job…
Tencent Turns to Chip Business amid Beijing’s Crackdown on Internet Firms
(Bloomberg) Tencent Holdings has unveiled its first chips that will be used in cloud servers, video transcoding, and artificial intelligence. The Conglomerate’s Senior Vice President Dowson Tong promised that the…
Bed Bath & Beyond Jumps on Share Buy Back and Partnership With Kroger
(Bed Bath & Beyond) Shares of Bed Bath & Beyond Inc. rose up to 91% in late trading on Tuesday following news it would start selling baby and home goods…
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