Financial News

Wednesday, October 13th
October 12, 2021
AP-NC Newswatch
October 12, 2021
Financial News

 

Financial News:

 

World shares fall…Debt limit vote

 

UNDATED (AP) – Shares have fallen in Europe and Asia as surging prices of oil, coal and other energy fan fears over inflation. In early trading, Germany’s DAX lost 0.7% and the CAC 40 in Paris gave up 0.8%. In London, the FTSE 100 sank 0.6%. In Asian trading, Tokyo’s Nikkei closed 0.9% lower. In Seoul, the Kospi fell 1.4%, the Hang Seng in Hong Kong gave up 1.4% and the Shanghai Composite index declined 1.3%. Wall Street is expected to open lower, with Dow and S&P 500 futures both down 0.1%.

 

WASHINGTON (AP) – Members of the House are returning to Washington to pass a short-term lift of the nation’s debt limit. Today’s vote would ensure the federal government could continue fully paying its bills into December. House Democrats are expected to have enough votes on their own to ensure that President Joe Biden can sign the bill into law this week. The $480 billion increase in the country’s borrowing ceiling cleared the Senate last week on a party-line vote.

 

ATLANTIC CITY, N.J. (AP) – A group studying the economics of offshore wind energy in the U.S. says building and operating the nascent industry will be worth $109 billion to businesses in its supply chain over the next 10 years. The Special Initiative on Offshore Wind estimated the market at $70 billion just two years ago, but updates its estimates as the industry continues to grow quickly.

 

LONDON (AP) – Job vacancies in the U.K. rose to a record high of nearly 1.2 million, a further sign that the British economy is experiencing worker shortages in an array of sectors as a result of the coronavirus pandemic and Britain’s departure from the European Union. The Office for National Statistics says that shortages are visible across the whole economy including hospitality and transportation. It also found that the number of workers on payroll has risen above the level that existed before the coronavirus pandemic struck more than a year and a half ago.

 

BEIJING (AP) – China is pledging $230 million to establish a fund to protect biodiversity in developing countries and asking other countries to contribute. President Xi Jinping made the pledge at a U.N. conference in southwest China that began global talks on protecting the world’s plants and animals from extinction. Another session next year will try to agree on targets for the next 10 years. The world failed to reach most of the 10-year goals that were set at the last conference. Environmental group Greenpeace says countries need to focus on not just setting new targets but also meeting them.