UK Annual Price Inflation Jumps by 8.1% in October to a Record High
(Halifax) UK posted an average house price of 270,027 pounds in October, an annual increase of 8.1% compared to 7.4% in September. The prices are now up for the fourth…
Qualcomm FY21 Revenues Jumps 43% but Q4 Net Income Fall
(Qualcomm) Qualcomm Inc. reported revenues of $33.5 billion in the fiscal year 2021, up 43% from the prior year. Fourth quarter revenues were reported at $9.34 billion, up 12% from…
Jobless Claims Hit New Pandemic Lows After a Decline by 14,000
(Department of Labor) Jobless claims fell by 14,000 in the week that ended October 30 to a new-pandemic low of 269,000. The jobless claims are now closer to the March…
Planet Fitness Climbs Amid Strong Q3 Earnings
(Planet Fitness) American fitness center franchise and operator Planet Fitness’s shares climbed after reporting positive earnings in the third quarter. Net income attributable to the firm climbed to $17.4 million…
Volkswagen Faces Unrest in Move to Cut Staff to Compete With Tesla
(FT) Volkswagen CEO Herbert Diess is facing resistance from the group’s powerful works council protesting against a move to reduce staff at the German plants. Diess has been seeking to…
SEC to Approve Converting Grayscale’s Bitcoin Fund Into ETF in December
(SEC Filing) US Securities and Exchange Commission has revealed that it has started a hearing to convert the Grayscale Bitcoin Fund into an exchange-traded fund. The SEC has 45 days…
Merck’s Becomes the First to Earn Approval for Covid-19 Pill From the UK
(Reuters) Molnupiravir, a Covid-19 antiviral pill developed by Merck and Ridgeback Biotherapeutics, has been approved by Britain’s regulator, becoming the first in the world. Britain's Medicines and Healthcare products Regulatory…
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…
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