People gather in Baltimore for annual Mayor's Christmas Parade
The New York-based company, a component of the Dow Jones Industrial Average Index, is seen as a bellwether for the insurance sector as it typically reports before its peers. Travelers' pre-tax net investment income jumped 10% to $743 million, driven by higher returns on its private equity and real estate partnership. Travelers said the catastrophe losses it incurred in the quarter mainly stemmed from tornado activity in Kentucky, windstorms in multiple U.S. states and a wildfire in Colorado.
President Joe Biden is paying a steep price for high inflation — a problem that festered during his first year in office instead of fading away as he suggested it would. His $1.9 trillion coronavirus relief package, enacted in March, drove what will probably be the fastest economic growth since 1984 and pulled the unemployment rate down to 3.9% at a quicker pace than experts predicted. But after unprecedented government interventions and supply chain problems, inflation is running at a nearly 40
SNC-Lavalin (TSX: SNC), a fully integrated professional services and project management company with offices around the world, today launches DecarbonomicsTM, a data-driven solution to decarbonize the built environment in a cost-effective way and accelerate the global journey to net zero.
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Union Pacific Corp said COVID-19 cases among its staff and paid time off for people getting inoculated may hurt its ability to move freight in the current quarter, but that impact should still be less than the 4% slump in volume in the previous quarter. The company's chief executive officer Lance Fritz, in an interview with Reuters on Thursday, did not disclose the number of positive COVID-19 cases but said it had a "real impact" on operations. Staff shortages due to COVID-19 cases may be the latest headache for North American railroad operators, who are already grappling with supply chain disruptions.
Australia has ruled out letting teenagers as young as 16 drive forklift trucks to tackle a shortage of workers in coronavirus-hit supply chains, as it scrambles to scoop up millions of home testing kits needed to keep businesses functioning. A sudden surge in coronavirus cases in recent weeks has seen hundreds of thousands of workers benched by illness or the need to isolate, leading states to quickly lower the isolation requirement to seven days. Prime Minister Scott Morrison had floated a proposal to lower the minimum age of forklift drivers from 18 to 16, seeking solutions for a shortage of workers now hobbling the economy.
China must prevent and defuse the risk of external shocks this year while strengthening macro-prudential management and guiding market expectations, the country's foreign exchange regulator said on Friday. The comments come as the U.S. Federal Reserve is widely expected to start hiking interest rates as early as March, while its Chinese counterpart has stepped up monetary easing to prop up a slowing economy, raising concerns about possible capital outflows due to the policy divergence. During the previous round of Fed tightening in 2018, China's currency depreciated sharply.
(Reuters) -American Airlines Group Inc on Thursday forecast returning to profitability in March, after reporting a smaller fourth-quarter loss, but said cost pressures would remain elevated this year due to the Omicron coronavirus variant-induced turmoil. The company said domestic leisure and short-haul international traffic were approaching their 2019 levels, but demand for long-haul international remained challenged. American, however, said the volatility in travel demand due to new COVID-19 variants has created "the most challenging planning environment in the history of commercial aviation".
OTTAWA — Canada's housing ministers on Thursday went over plans to ease affordability issues just ahead of more hearings in a parliamentary probe of price gains and their effect on headline inflation. Housing Minister Ahmed Hussen hosted the virtual meeting of his provincial and territorial counterparts to talk about ways to boost the supply of new units. They were also to talk about options to discourage buyers from accumulating a large portfolio of investment properties. Research from the Bank
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Canada's food manufacturers are cutting capacity and focusing on key products as they confront labour shortages and supply chain bottlenecks that show no signs of easing. Shipping backlogs, delays in obtaining packaging and ingredients and high worker absenteeism due to COVID-19 isolation protocolsare interfering with the availability of certain products, experts say. The situation has prompted some food suppliers to inform grocers about the steps they're taking to fulfil orders, including findi
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Wall Street's main indexes fell on Friday, with the Nasdaq set for its fourth straight day of declines after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower. Netflix Inc plunged 22.7% after the streaming giant fell short of market forecast for new subscribers at the end of last year and offered a downbeat outlook for early 2022. Analysts on Thursday raised doubts about business prospects of pandemic market favorites including Netflix and Peloton Interactive.
TOKYO (Reuters) -Sony Group will likely add new technology partners to its electric vehicle (EV) project to help it forge a mobility business to transform cars from transportation machines to entertainment spaces, a Sony executive told Reuters. An ongoing shift to electric cars, which are easier to build than those with internal combustion engines, is allowing new entrants into vehicle manufacturing. At the same time, autonomous driving and 5G connectivity is expected remold the auto industry by turning cars into mobile platforms for information and entertainment services.
Solid Q4 production numbers, stellar outlook guidance, and surging silver prices are helping First Majestic Silver stock rally today. The post Why First Majestic Silver Stock Popped 12% Today appeared first on The Motley Fool Canada.
JAKARTA, Indonesia (AP) — Indonesia’s leader said Thursday that his country, which holds the presidency of the Group of 20 biggest economies this year, wants to strengthen global partnership and inclusiveness to aid the economic recovery amid a resurging COVID-19 pandemic. In an online address to the World Economic Forum, Indonesian President Joko Widodo committed to making the G-20 presidency an important part of the response, with a focus on inclusive health care, the digital transformation an
The holidays have left without a trace. Well, almost. Long after the decorations have come down, you still have debt hanging around. Don’t let it put a damper on your year. Here’s what you can do to take control of your holiday debt. REVIEW WHAT YOU OWE First, gather a few important details about your debt. Make a list of your accounts for each type of debt you have. Perhaps you spread holiday purchases across a couple of different credit cards and a “buy now, pay later” loan, for example. For e
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U.S. banks' appetite for U.S Treasuries could slow down as they shift their focus to loan growth, at the same time that the Federal Reserve plans to shrink asset holdings and raise interest rates to fight inflation, said Credit Suisse analyst Zoltan Pozsar. Asset purchases by the Fed contributed to unprecedented liquidity and trading activity through the pandemic, but trading revenue at leading Wall Street banks fell in the fourth quarter as markets normalized and the U.S. central bank started scaling back its asset purchases, which resulted in lower trading volumes. Bank of America on Wednesday reported a better-than-expected 30% jump in quarterly profit, partly driven by $50 billion in record loan growth.
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