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☆ Red Sea tensions risk significantly higher inflation, OECD warns
▼ + stars: | 2024-02-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

watch nowElevated shipping costs as a result of ongoing tensions in the Red Sea could impede the global fight against inflation, the Organisation for Economic Co-operation and Development said Monday. The Paris-based group estimates that the recent 100% rise in seaborne freight rates could increase import price inflation across its 38 member countries by nearly 5 percentage points if they persist. That could add 0.4 percentage points to overall price rises after a year, the OECD said in its latest economic outlook. Clare Lombardelli, chief economist at the OECD, told CNBC on Monday that a sustained increase in inflation as a result of the latest crisis is a risk, but not the group's base case. "It's something we're watching closely ... we have seen an increase in shipping prices, if that were to continue for for an extended period, then that would feed through into consumer price inflation.

Persons: Ahmed Gomaa, Clare Lombardelli, Lombardelli, Tiemen Meester, it's, Meester Organizations: Organisation for Economic Co, Development, OECD, Xinhua News Agency, Getty, CNBC Locations: Paris, Suez, Europe, Asia, Iran, Yemen, United States, Ismailia Province, Egypt, Good, Africa, Dubai

☆ Stanley Druckenmiller says government needs to stop spending like 'drunken sailors,' cut entitlements
▼ + stars: | 2023-11-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"We are spending like drunken sailors," Druckenmiller said on CNBC's "Squawk Box" Wednesday. Now it's 25% of GDP ... My father told me if you're in a hole, stop digging Stan." Despite his calls to cut overall spending, the widely followed investor stressed that it's necessary for the U.S. to support Ukraine and disagrees with Republicans urging to stop funding in that region. "I was actually happy to see when the announcement the support for Ukraine and Israel $106 billion," Druckenmiller said. Druckenmiller once managed George Soros' Quantum Fund and shot to fame after helping make a $10 billion bet against the British pound in 1992.

Persons: Stanley Druckenmiller, Druckenmiller, Stan, Putin, George Soros Organizations: Social, Duquesne Family Office, Social Security, Quantum Fund, Duquesne Capital Management Locations: Duquesne, Israel, Ukraine

But the future of the Games was thrown into doubt on Thursday when the province of Alberta withdrew its support for a bid, dealing another blow to the embattled Commonwealth Games Federation (CGF). Victoria withdrew due to projected cost overruns, with Commonwealth Sport Canada saying it believed the Australian state's decision had prompted Alberta's pullout. The expense to host a Commonwealth Games in any country is significant," Cary Kaplan, president of Canadian marketing firm Cosmos Sports & Entertainment, told Reuters. MARKET DISPARITYDespite the disparity, Payne said the Commonwealth Games could not be written off. "That will in turn erode the relevance of the Games unless the Commonwealth Games steps up its marketing and branding efforts in the years ahead.

Persons: Matthew Klugman, Victoria, Alberta's pullout, Cary Kaplan, Klugman, Michael Payne, Payne, Kaplan, Queen Elizabeth, Rich, Karolos Grohmann, Aadi Nair, Ed Osmond Organizations: Commonwealth, Commonwealth Games Federation, Victoria, Games, Reuters, Commonwealth Sport Canada, Commonwealth Games, Cosmos Sports & Entertainment, European, Birmingham Commonwealth Games, Paris Olympics, Olympic Committee, Olympic, Birmingham, Thomson Locations: Canada, Alberta, Hamilton , Ontario, COVID, Australia, Great Britain, Britain

☆ Randstad flags tougher job market, earnings beat forecasts
▼ + stars: | 2023-07-25 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

July 25 (Reuters) - Randstad (RAND.AS), the world's biggest staffing firm, on Tuesday flagged weaker demand in a "challenging" jobs market, even as it beat expectations for second-quarter core earnings. "We've had an enormous surge in demand post-COVID ... from there we have sort of gradually seen demand pull back," he added. The company's shares recouped early losses to rise 3.5% by 1013 GMT, as its quarterly core profit beat market forecasts. Underlying earnings before interest, tax and amortisation (EBITA) fell 12% to 271 million euros ($299.8 million), but exceeded the 260 million seen in a company-provided poll. An employer survey from the World Economic Forum earlier this year found that employment could decrease 2% by 2027.

Persons: Sander van't Noordende, We've, Marc Zwartsenburg, Randstad, van't Noordende, Olivier Sorgho, Jacqueline Wong, Milla Nissi, Emma Rumney Organizations: ING, Economic, Thomson Locations: U.S, Britain, China, North America, Europe, Northern Europe, Asia, Pacific, America, Gdansk

☆ Renewing Black Sea grain deal critical for Africa, WFP boss says
▼ + stars: | 2023-02-18 | by ( John Irish | ) www.reuters.com time to read: +2 min

Negotiations will start in a week on extending the trade agreement, a senior Ukrainian official said on Friday. "It's critical," World Food Programme (WFP) Director David Beasley told Reuters in an interview on the sidelines of the Munich Security Forum. "With all the crises we are facing around the world with climate change, droughts, flash floods, we can't afford the Black Sea Grain initiative to fall through at all," Beasley added. The grain deal brokered by the United Nations and Turkey last July allowed exports from three Ukrainian ports. He warned Moscow that shutting down the ports would be catastrophic, notably in Africa, where millions of people are facing famine.

☆ Dan Yergin says oil prices could hit $121 a barrel when China fully reopens
▼ + stars: | 2022-12-21 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Dan Yergin predicts oil prices could hit $121 a barrel when China fully reopens, but warned there are three major uncertainties looming over the market. "Our base case for 2023 is $90 for Brent but you have to look at other cases," the S&P Global vice chairman said, adding there are three major uncertainties: the Federal Reserve's decisions, China demand and Moscow's reaction to the price caps. "If China gets over Covid ... then you add a lot of demand to the market," Yergin told CNBC's "Street Signs Asia" on Tuesday. That could be "one big boost" and push prices to $121 a barrel, building on strains caused by underinvestment in oil and gas, Yergin said. On the flipside, Yergin said prices could fall to around $70 per barrel in a recession.

☆ Travelers are getting out of town earlier for Thanksgiving this year
▼ + stars: | 2022-11-22 | by ( The Associated Press | ) www.nbcnews.com time to read: +5 min

The busiest travel days during Thanksgiving week are usually Tuesday, Wednesday and the Sunday after the holiday. It looks like the rush started early this year, as the Transportation Security Administration screened nearly 2.33 million travelers on Sunday. It’s the first year that the number of people catching planes surpassed the 2.32 million screened the Sunday before Thanksgiving in 2019, before the COVID-19 pandemic began. “As a result, we’re confident that the week is going to go well.”U.S. airlines plan to operate 13% fewer flights this week than during Thanksgiving week in 2019. The busiest day in TSA’s history came on the Sunday after Thanksgiving in 2019, when nearly 2.9 million people were screened at airport checkpoints.

☆ Major banks are bullish on Hong Kong's economy and China growth prospects
▼ + stars: | 2022-11-02 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

"Hong Kong business is as strong as it has ever been," said StanChart's CEO Bill Winters. I have every confidence Hong Kong will rebound strongly next year. People walk through Exchange Square in Hong Kong on October 28, 2022. Major lenders Standard Chartered and HSBC expressed confidence in the rebound of Hong Kong's and China's economy, even as China ramps up its Covid measures and Hong Kong's economy posted its worst quarter in more than two years. Eventually China will start to open up and the economy will rebound strongly," Quinn told CNBC.

☆ China's Xi defends zero-Covid policy and warns Taiwan at opening of Communist Party Congress
▼ + stars: | 2022-10-16 | by ( ) www.nbcnews.com time to read: +6 min

Chinese President Xi Jinping called for accelerating the building of a world-class military as he kicked off a Communist Party Congress by touting the country's “zero-Covid” strategy and reiterating policy priorities. Xi described the five years since the last party congress as “extremely uncommon and abnormal”, during a speech that lasted less than two hours — far shorter than his nearly three-and-a-half-hour address at the 2017 congress. Chinese President Xi Jinping, bottom, centre, is applauded by senior members of the government and delegates after his speech on Sunday. The son of a Communist Party revolutionary, Xi has reinvigorated a party that had grown deeply corrupt and increasingly irrelevant, expanding its presence across all aspects of China, with Xi officially its “core”. The day after the congress ends on Saturday, Xi is expected to introduce his new Politburo Standing Committee, a seven-person leadership team.

☆ Зигфрид Мурешан: Вакцина из Румынии может поступить в Молдову на этой неделе – Цензура МД
▼ + stars: | 2021-01-19 | by ( ) cenzura.md time to read: +1 min

Общество Зигфрид Мурешан: Вакцина из Румынии может поступить в Молдову на этой неделеПервая партия вакцины против COVID, обещанная президентом Клаусом Йоханнисом Республике Молдова, может быть доставлена в Кишинев уже на этой неделе. Вакцина, которую нужно хранить при температуре минус 70-80 градусов, теперь стала второй вакциной от Moderna, которую можно хранить при более высоких температурах. Я верю, что первые дозы вакцины, подаренные правительством Румынии, поступят на этой неделе», – сказал Мурешан. Об этом заявил президент Румынии Клаус Йоахннис по итогам встречи с президентом Республики Молдова Майей Санду 29 декабря 2020 года. Ранее власти соседней страны заявили, что первый транш вакцины против COVID-19 производства компании Moderna прибудет в Румынию в среду.

Persons: Зигфрид Мурешан Вакцина, Клаус Йоханнис, Зигфрид Мурешан, Мурешан, Клаус Йоахннис, Майя Санду, Валериу Георгицэ Organizations: Общество, Европарламент Locations: Румыния, Молдова, Республике Молдова, Кишинев, Республика Молдова, Калифорния

☆ Ursula von der Leyen a anunțat că două vaccinuri anti-COVID ar putea fi autorizate luna viitoare în Europa
▼ + stars: | 2020-11-20 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Uniunea Europeană ar putea da undă verde comercializării vaccinurilor Pfizer și Moderna în a doua jumătate a lunii decembrie. O spune președintele Comisiei Europene, Ursula von der Leyen, potrivit căreia totul depinde de rezultatele evaluării pe care Agenția Europeană a Medicamentelor o va face celor două seruri anti-COVID. Șefa Comisiei Europene amintește că Uniunea a bătut palma cu 5 producători de vaccinuri anti- COVID . A fost îmbucurător să vedem că toate statele membre au fost de acord să cumpere aceste vaccinuri și să rămână în portofoliul nostru. Acest portofoliu de 5 vaccinuri, să sperăm că 6 în curând, este important pentru că acoperă patru tehnologii de producție diferite.

Persons: Ursula von, der, Johnson, Sanofi, Novavax Organizations: Uniunea Europeană, Europene, Agenția Europeană, Uniunea, Astra Locations: Bruxelles, Ursula von der, Statele Unite

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