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Thursday, October 21, 2021

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Pound Stuck in Limbo as Debate Rages on Timing of U.K. Rate Hike

By William Shaw and Vassilis Karamanis (Bloomberg) — Uncertainty plagued the pound’s outlook during the tortuous years of Brexit negotiations. Now the Bank of England has brought it back.  Signs that policy makers are accelerating toward an interest-rate hike have traders fumbling around to figure out what that means for sterling. Money managers at Jupiter […]

Britain’s Economy Finds Out What It Means to Live With Covid

By David Goodman and Emily Ashton (Bloomberg) — After 19 months spent attempting to ward off Covid-19 while safeguarding jobs and businesses, the U.K. is heading into winter with a growing problem: The coronavirus is spreading rapidly, just as the economy starts going in the opposite direction.  U.K. cases are accelerating faster than in other […]

U.S. Backs Vaccine Mixes; India Hits Billion Doses: Virus Update

(Bloomberg) — U.S. regulators approved the mixing of vaccines as they cleared boosters for the shots made by Moderna Inc. and Johnson & Johnson. India reached the milestone of 1 billion Covid vaccines administered, though its inoculation campaign still faces major challenges. Ukraine, among Eastern European countries battling a coronavirus resurgence, reported a record number […]

Indian Engineering Giant Plans to Go Carbon Neutral by 2040

(Bloomberg) — Larsen & Toubro Ltd. plans to achieve water and carbon neutrality by 2035 and 2040, respectively, it said in a report on sustainable goals.  L&T, which operates primarily in the construction and engineering sector, is prone to climate change and has already started implementing several climate-related policies, it said. About 10% of the […]

Oil Slips After Hitting 7-Year High on Surprise Stockpiles Drop

(Bloomberg) — Oil slipped after hitting a seven-year high following a surprise draw in U.S. crude stockpiles and a robust decline in fuel supplies.  Futures in New York edged toward $83 a barrel after advancing more than 1% on Wednesday to settle at the highest level since 2014. U.S. crude inventories fell by 431,000 barrels […]

Long Philippine Bonds Seen Out of Favor on Inflation Fears

(Bloomberg) — Most Southeast Asian yield curves have flattened in recent months in tandem with a similar move in U.S. Treasuries. The Philippines is an outlier.  The spread between five-year and 10-year peso bond yields is near the widest in over a year, with long-dated securities hit by fears about rising supply as the Philippines’ […]

Weidmann Exit, EU’s Energy Tension, Ukraine Rates: Eco Day

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Welcome to Thursday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day: Jens Weidmann’s decision to quit as Bundesbank president offers a unique opportunity to reshape the inflation-fighting institution. Weidmann’s greatest impact at the […]

Energy Crisis Exposes EU Tensions With Few Solutions for Leaders

(Bloomberg) — Soaring energy prices are exacerbating divisions in the European Union as national leaders brace for heated talks about how to protect the most vulnerable and avoid a backlash against the bloc’s ambitious climate change plan. The unprecedented spike in power and gas prices is the first topic for EU leaders in their two-day […]

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