Global stocks mixed…Britain’s trucking woes
TOKYO (AP) – Global shares are mixed as fears of further waves of coronavirus outbreaks cloud the economic outlook, tempering gains. In early European trading, France’s CAC 40 added 0.6%, while Germany’s DAX gained nearly 0.9%. Britain’s FTSE 100 edged up 0.3%. In Asian markets, Japan’s benchmark Nikkei was little changed, inching down less than 0.1%. South Korea’s Kospi closed 0.3% higher. Hong Kong’s Hang Seng inched up 0.1%, while the Shanghai Composite shed 0.8%. U.S. futures are higher.
NEW YORK (AP) – The nation’s business economists now expect slower economic growth this year due to the widespread delta variant of the coronavirus, while also saying the economy could improve more quickly next year as vaccinations become more accepted. In a survey being released today, the National Association of Business Economists found that its panel now expects full-year economic growth of 5.6%, down from a forecast for 6.7% growth in NABE’s previous survey in May. However, economists raised their forecast for 2022 economic growth to 3.5% from a previous outlook of 2.8%.
BEIJING (AP) – Global shoppers face possible shortages of smartphones and other goods ahead of Christmas after power cuts to meet government targets forced Chinese factories to shut down and left some households in the dark. The disruption to China’s vast manufacturing industries during one of their busiest seasons reflects the ruling Communist Party’s struggle to balance economic growth with efforts to rein in pollution and emissions of climate-changing gases.
LONDON (AP) – Lines of cars formed at British gas stations for a fourth day today, as the government mulled bringing in the army to help ease supply disruption triggered by a shortage of truck drivers. Brian Madderson, chairman of the Petrol Retailers Association, says training has been taking place “in the background” for military personnel to drive tankers. The government has not announced whether troops will be deployed. The haulage industry says the U.K. is short as many as 100,000 truckers, due to a perfect storm of factors including the coronavirus pandemic and an exodus of foreign workers following Brexit.
BERLIN (AP) – Voters in Berlin have backed a proposal for the Berlin city government to take over about 240,000 apartments worth billions from corporate owners to curb sharply rising rents in the German capital. The count of Sunday’s referendum shows that 56.4% of voters were in favor of the expropriation measure, while 39% were opposed. The nonbinding referendum forces the Berlin city government to consider expropriating big, corporate landlords in a radical move to cool one of Germany’s hottest real estate markets.