Economic expectations in Germany rebounded at the start of the year after falling the previous month, with financial market experts expecting the hit from the Covid-19 Omicron wave to be short-lived, the State said on Tuesday. ZEW Economic Research Institute.

The Economic Expectations Index rose from 29.9 in December to 51.7 in January, beating the consensus forecast of 32.5 from economists polled by The Wall Street Journal and the highest reading since July.


UK labor market tightened in December despite Omicron woes

The number of people employed in the UK rose in December and unemployment continued to fall, signaling that the end of the furlough scheme and the spread of the Omicron variant of the coronavirus have not weakened the country’s labor market.

Personnel on business payrolls rose by 184,000 in December from the previous month, to 29.5 million, according to Office for National Statistics data released on Tuesday.


Hugo Boss shifts into high gear as online sales surge in Q4

Rising online sales and strong brand development helped Hugo Boss AG deliver above consensus revenue growth in the final quarter of 2021, as the German company’s sales strategy of high-end fashion seems to be paying off.

According to preliminary figures released on Tuesday, Hugo Boss achieved sales of 906 million euros ($1.03 billion) in the fourth quarter, up more than half year on year at constant exchange rates, and 12 % more than the same period of 2019, before the global pandemic hit.


888 Holdings sees 14% revenue growth in 2021 as it expands into regulated markets

888 Holdings PLC said on Tuesday it expects revenue growth of 14% for 2021, driven by an expansion in regulated markets.

The online betting and gaming company said it forecast revenue for the year of $972 million, up from $850 million a year earlier. Growth was driven by regulated and taxed markets, with strong performances in the UK, Italy, Romania and Portugal.


EU new car sales fell in December

Passenger car registrations in the European Union fell in December, marking the sixth consecutive month of decline in 2021, according to the European Automobile Manufacturers Association.

New car registrations – a reflection of sales – fell about 23% year on year to 795,295 vehicles for the month, ACEA said on Tuesday. In the January-December period, new passenger car registrations in the EU amounted to 9.7 million, down 2.4% year-on-year, mainly due to the impact of the fuel shortage. semiconductors on production.


Sales of Rolls-Royce, Bentley and BMW rise as cheaper brands lag behind

BERLIN-Luxury car brands such as Rolls-Royce, Bentley, Porsche and BMW saw record sales, thanks to customers craving them and manufacturers channeling rare chips into their most profitable models.

With international travel stalled during the pandemic and many flashy spending avenues closed to them, a younger generation of luxury car consumers went on a shopping spree last year.


Drop in Australian iron ore shipments from Rio Tinto for the full year; 2022 exports likely higher

Rio Tinto PLC said annual iron ore shipments from its Australian mining operations fell 3% in 2021 as projects were halted by a shortage of workers and supply chain issues, but said the shipments would likely increase this year.

The world’s No.2 mining company by market value said 321.6 million metric tonnes of iron ore was shipped from its operations in northwest Australia last year. Fourth-quarter shipments fell 5% year-on-year to 84.1 million tonnes, the miner said.


Credit Suisse’s António Horta-Osório has lost board support following a breach of Covid-19 rules

He came to fix the broken culture of Credit Suisse Group AG. Then he became part of the problem.

António Horta-Osório was hoping for a slap on the wrist on Sunday from the Credit Suisse board for breaking coronavirus quarantine rules while traveling to events, according to people familiar with his departure. Instead, he had to quit as the bank’s chairman for failing to live up to the high standards he set for himself when he joined Credit Suisse eight months ago.


Yemen’s Houthi rebels claim airstrikes on UAE capital

Yemen’s Houthi rebels said they were behind airstrikes in the United Arab Emirates that killed three people on Monday, as escalating fighting in a 7-year-old civil war spreads across the country. Middle East.

The Houthis, who are backed by Iran, said they had targeted Abu Dhabi with ballistic and cruise missiles and a large number of drones in retaliation for a recent escalation from the United Arab Emirates in Yemen, where militants supported by the Emirates inflicted an unexpected attack on the Houthis last week. defeat in the oil province of Shabwa. The Emiratis have recently stepped up efforts to back local militants in Yemen in a Saudi-led coalition that had suffered defeats.



Bond yields hit two-year high as stock futures fall

U.S. stock futures fell and bond yields hit two-year highs, heightening investor fears that rising interest rates could pull back the big tech stocks that dominate the markets.

S&P 500 futures fell 1% on Tuesday after U.S. markets closed Monday for a holiday. Contracts for the technology-focused Nasdaq-100 fell 1.6% and futures for the Dow Jones Industrial Average fell 0.7%.


Offices are rented, thanks to cash donations for tenants, months of free rent

The recent rally in US office rents owes much of its success to something landlords hate to talk about: all the freebies, cash gifts, and other incentives they have to give tenants.

These kinds of payments have been around for a long time in the office, commercial real estate, and apartment markets, especially in places like New York and San Francisco. But they’ve never been more important or more common than in urban office markets these days, real estate brokers say.


With rate hikes looming, investors are dumping money-losing company stocks

Moonshot actions return to Earth.

As the Federal Reserve nears an interest rate hike, investors are reassessing their bets on one of the riskiest corners of the market: stocks of companies that aren’t making money. Money-burning tech companies, biotech companies without any approved drugs, and startups that quickly listed via mergers with blank check companies — some of which have soared during the pandemic — have fallen sharply.


BOJ raises inflation expectations amid pandemic-related supply shortages

TOKYO — The Bank of Japan has raised its price forecast slightly due to pandemic-related supply shortages, although it still expects its 2% inflation target not to be reached for at least the next two years.

In its quarterly outlook released on Tuesday, the bank’s board forecast inflation to rise 1.1% in the year ending March 2023 and 1.1% the following year, up compared to previous projections of 0.9% and 1.0%, respectively.


China’s PBOC aims to act forcefully to help stabilize economy

China’s central bank said on Tuesday it would act sooner and more forcefully to help stabilize the economy in 2022, a politically important year for China’s leaders.

The People’s Bank of China plans to guide financial institutions to increase credit issuance this year and will use multiple monetary instruments to maintain reasonably sufficient market liquidity, central bank vice governor Liu Guoqiang said at a briefing. briefing.


BlackRock’s climate stance is about profits, not politics, says Larry Fink

Larry Fink’s efforts to get companies to adopt climate-friendly policies has led some to label him an activist. The chairman and CEO of BlackRock Inc. prefers a different label: capitalist.

In his annual letter to the CEOs of companies in which BlackRock invests, Mr. Fink said that companies that do not foresee a carbon-free future risk being left behind. The pursuit of long-term returns, not politics, is what drives the fund manager’s efforts, he wrote.


China’s zero-Covid policies cause traffic jam in Vietnam as farmers suffer

China’s zero-Covid policies are quarantining Chinese cities and bringing air travel to a standstill again. They also disrupt trade routes across its land borders which are vital for farmers and traders in the region.

In neighboring Vietnam, thousands of trucks loaded with dragon fruit, jackfruit, watermelons and other produce have been stuck at the border awaiting passage for weeks. Their trips were halted after Chinese authorities late last year suspended operations at a number of gates or slowed traffic citing the need to contain Covid-19.


Taliban steps up efforts to take control of Afghan embassies abroad

ROME-Five months after the Taliban took Kabul, Afghanistan’s new leaders are stepping up their campaign to take control of the country’s embassies abroad, most of which continue to be run by diplomats appointed by the former government supported by the United States.

No foreign capital has officially recognized the Taliban. And nearly all of the country’s 65 diplomatic missions still fly the flag of the fallen Afghan republic, although after former President Ashraf Ghani fled August 15 from Kabul, they no longer have a government to represent.


Write to [email protected]

Email us at [email protected]

We offer an enhanced version of this briefing, optimized for viewing on mobile devices and delivered straight to your inbox. If you would like to subscribe, go to

This article is a text version of a Wall Street Journal newsletter published earlier today.


(END) Dow Jones Newswire

January 18, 2022 06:46 ET (11:46 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Garland K. Long