What’s wrong? (July 11-17)
Inflation reaches high levels
The government is an important indicator of inflation in June Climbed at the fastest pace in 13 years, Questions the White House’s claim that post-pandemic price increases are “temporary.” The surge in inflation is clearly associated with the rapid resumption of the economy that caused the supply-demand mismatch. But there is debate about how long it will remain rising. Is it temporary or sticking, as most policy makers believe? On Wednesday, Federal Reserve Board Chairman Jerome H. Powell said: Inflation was “significantly” increasing And he said it was likely to stay high for 6 months or so. Still, the Fed isn’t expected to raise interest rates anytime soon.
Big Tech makes a new bet
Facebook, Netflix and Apple are entering new territories. Facebook has joined the slate of planet forms that are trying to attract online creators in cash, such as Snapchat and YouTube.It Will pay $ 1 billion Netflix plans to move beyond TV and movies to video games. Bloomberg reported..And Apple reportedly function This allows consumers to pay in installments for their Apple Pay purchases. Twitter, on the other hand, is moving in the opposite direction. End the fleet, A temporary tweet function introduced last year.
China’s growth slows
China’s economy on Thursday 7.9% increase In the second quarter. This was strong growth, down from about 18.3 percent in the first three months of the year. Part of the reason for the slowdown in growth is statistical habits. (The blockbuster rate at the beginning of the year partially reflects how sharply economic production fell in early 2020.) But other countries in the world show signs of a significant slowdown in China’s economy. I am watching carefully. In addition to being the world’s second-largest economy, China broke out of the blockage faster than other powers, so the pace of economic recovery may provide hints on how quickly other countries’ economies will recover. not.
What’s next? (July 18-24)
Another millionaire goes to space
Jeff Bezos, who just resigned from Amazon’s CEO on Tuesday, is expected to be the founder of the second billionaire rocket company to go to space this month. (British billionaire Richard Branson, who leads various Virgin companies, Defeated him in 9 days.. Mr. Bezos travels in reusable orbital capsules manufactured by his company, Blue Origin.Anonymous bidder Paid $ 28 million I will accompany him Canceled “due to schedule conflict” According to Blue Origin, this means that the 18-year-old who also bid on the auction will be seated. Branson’s space travel is the first kind that his company Virgin Galactic plans to offer to its customers, and Bezos’ flight will be Blue Origin’s first manned space flight.While there is Skeptics Regarding the need for commercial spaceflight, millionaire flight is at least a small step towards a new business in tourism (and Damage compensation insurance).
Airline progress report
Revenue reports from United Airlines, Southwest Airlines and American Airlines serve as progress reports for post-pandemic travel in the United States.Last week Delta Air Lines Reported its first profit He said domestic leisure travel has fully recovered to 2019 levels since the pandemic began. However, there remains a big question as to whether businesses will probably continue to curb travel permanently. According to Delta Air Lines, business travelers in June fell 60% from 2019 levels, but improved from 80% in March.
There is a stand but no fans
The Olympics will start on Friday, but due to the surge in Covid-19 cases in Tokyo Audience is not allowed At most events.Holding the olympic games Rarely rewarded For the city of the best times.According to, all Olympics since 1960 are over budget analysis According to researchers at Oxford University. But a year’s delay due to empty stands and pandemics will make the Olympics particularly expensive for Tokyo. The city was initially Spend $ 7.3 billion, And 2019 Government audit The actual spending will be about $ 28 billion. Postponing the game will probably add billions of dollars, and while brand sponsorship and licensing fees will still generate revenue, Tokyo will make money from ticket sales and of the same tourists as the host cities of the past Olympics. You won’t see an increase.
Group of 20 countries Agreed on global minimum corporate tax, But clarify the details Can be more complicated..Senator Democrats $ 3.5 trillion infrastructure bill (Although it’s unclear if they have a vote to pass it). Coworking space It’s a thing again.And England Remove pandemic restrictions on Monday.
Business Week: Inflation, Space Millionaires, and Other Rise
Source link Business Week: Inflation, Space Millionaires, and Other Rise