[ad_1] Toyota Motor Corporation Update Sign up for myFT Daily Digest and be the first to learn about Toyota Motor Corporation news. Due to the return of Covid-19 cases in Asia and the deepening of the semiconductor crisis, Toyota lowered its production forecast for this year. The world’s largest automaker warned that as chip shortages in Southeast Asia worsened, supply disruptions and forced factories to close, they need to cut annual production by 3%. Less than a month after the Japanese company said It is cutting Due to supply chain issues, global production this month was reduced by 40%. Toyota has closed factories around the world because parts cannot reach its factories, while Peugeot in Europe and Ford and General Motors in the United States… [Read More...]

[ad_1] Cryptocurrency update Sign up for myFT Daily Digest and be the first to learn about cryptocurrency news. Senior policymaker Benoît Coeuré said in a speech on Friday that stablecoins and decentralized finance will challenge the business model of banks, and that monetary authorities must act faster to develop official digital assets. The comments of Coeuré, a senior official of the Bank for International Settlements and a former member of the Executive Committee of the European Central Bank, highlighted the growing anxiety of financial authorities about the prosperity of cryptocurrencies and other digital financial innovations. Coeuré said that decentralized financial companies and stablecoins-a store of value in the digital asset market-both pose a threat to intermediaries such as depository institutions and banks. He said… [Read More...]

[ad_1] U.S. Employment Update Sign up for myFT Daily Digest and be the first to learn about employment news in the United States. Despite abundant evidence, black workers are still struggling to find work in the United States Opening, Although the number of unemployed has declined among other population groups, the number of unemployed has increased last month. This gap has forced economists to question whether the progress made by African American workers in the hot labor market before the Covid-19 crisis will continue beyond the pandemic — or whether the historical gap will continue. In August, the unemployment rate for black Americans rose to 8.8 Even though the same measures taken against U.S. workers dropped to 5.2% overall, the U.S. Bureau of Labor… [Read More...]

[ad_1] UK GDP update Sign up for myFT Daily Digest and become the first person to learn about UK GDP news. Due to reduced consumer spending in stores and shortages of raw materials hitting the construction industry, the British economic rebound slowed to slow in July. The National Bureau of Statistics said on Friday that output in July rose 0.1% from the previous month, which was lower than the 1% increase in June and also lower than the 0.6% forecast by economists surveyed by Reuters. Compared with February 2020 before the first coronavirus restriction, the economy is still 2.1% smaller than in 2020. Andrew Goodwin, chief British economist at Oxford Economics, said: “The recovery is now entering a more difficult phase. There are still many risks in… [Read More...]

[ad_1] World update Sign up for myFT Daily Digest and be the first to learn about world news. Good morning.This article is our live version First FT communication.Register our Asia, Europe/Africa or America Version so that it will be sent directly to your inbox every working day morning.You can contact us in the following ways firstft@ft.com What is your understanding of the news this week?Take our test.Good morning.The British government will put itself Collision process Together with today’s data privacy activists and the European Union, it suggested at the time that the right to manual review of certain decisions made by computer algorithms could be revoked in the UK. This idea is part of an extensive plan to… [Read More...]

[ad_1] U.S. Economic Update Sign up for myFT Daily Digest and become the first person to learn about US economic news. The Fed will have to relax its PandemicA poll conducted by the Financial Times of leading academic economists shows that the economic stimulus plan will be implemented quickly and US interest rates will be raised in 2022 to cope with rising inflation. The latest survey conducted by the Global Market Initiative of the University of Chicago Booth School of Business in collaboration with the Financial Times shows that the approach to tightening monetary policy is far more radical than the Fed’s recent forecasts and market expectations indicate. More than 70% of respondents think Federal Reserve Interest rates will be raised by at least a quarter… [Read More...]

Update on Sino-U.S. Relations Sign up for myFT Daily Digest and become the first person to learn about US-China relations news. After two rounds of high-level meetings made little progress, Joe Biden and Chinese leader Xi Jinping spoke for the second time since becoming president of the United States in an effort to break the deadlock in relations between the two countries. The White House stated that the two leaders had “extensive strategic discussions” and Biden “emphasized the United States’ lasting interest in peace, stability, and prosperity in the Indo-Pacific region and the world.” The White House stated that the two also discussed the “responsibility of the two countries to ensure that competition does not fall into conflict… [Read More...]

EU Economic Update Sign up for myFT Daily Digest and be the first to learn about EU economic news. A group of hawks EU finance ministers are preparing to take a hard line in negotiations to change EU budget rules after the pandemic, insisting that any reforms must not jeopardize fiscal sustainability or weaken debt reduction goals. A document supported by the finance ministers of eight countries including Austria, the Netherlands, Denmark and the Czech Republic announced their willingness to discuss “improving” the EU’s stability and growth pact. But they warned that member states must recommit to “sound public finances” and cut public debt that surged during the Covid-19 crisis. The eight ministers sent a clear signal to the European Commission to restart negotiations on… [Read More...]

The central bank is withdrawing, but it needs to convince the market that its asset purchase plan will not end prematurely Source link The post Siri, show me a “powerful and persistent” European Central Bank appeared first on JusticeNewsFlash.com. [Read More...]

World update Sign up for myFT Daily Digest and be the first to learn about world news. Good morning.This article is our live version First FT communication.Register our Asia, Europe/Africa or America Version so that it will be sent directly to your inbox every working day morning.You can contact us in the following ways firstft@ft.com Janet Yellen warns the U.S. Treasury Risk of running out of cash Unless Congress raises the borrowing limit, Joe Biden’s administration is increasingly worried about the possibility of a debt default. The Treasury Secretary stated in a letter to congressional leaders yesterday that she could not provide a “specific estimate” of when the cash will be exhausted, but the “most likely outcome” is… [Read More...]

Retail Industry Update Sign up for myFT Daily Digest and be the first to learn about retail industry news. As domestic and Asian logistics challenges will lead to reduced product ranges and discounts during the holiday season, British retailers will be rationed for Christmas cheers this year. Supply issues in food distribution have dominated the headlines in recent weeks, but non-food retailers have encountered similar setbacks in planning and inventory during the busiest period of the year. “I have never seen this in more than 40 years of toy sales,” said Gary Grant, founder and executive chairman of The Entertainer, which operates more than 170 toy stores in the UK. He cited commodity inflation, high transportation costs, container procurement issues and limited factory capacity. Problems in… [Read More...]

Enbridge Inc updates Sign up for myFT Daily Digest and be the first to learn about Enbridge Inc news. Canadian pipeline company Enbridge purchased assets for US$3 billion, including the Texas crude oil export terminal with the largest output in North America, betting on continued strength in U.S. energy production. The company will acquire the Ingleside Energy Center near Port of Corpus Christi, and hold shares in several pipelines from inland oil fields to the Gulf Coast, as all cash in the assets owned by Moda Midstream backed by private equity Part of the transaction. The agreement came as US oil drillers withdrew their production targets after a decade-long blitzkrieg of growth and shifted their focus to profits instead of extracting more crude oil. The… [Read More...]