Journal Article – Nalburiye Dergisi http://nalburiyedergisi.com/ Sun, 09 Jan 2022 12:05:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://nalburiyedergisi.com/wp-content/uploads/2021/07/icon-1.png Journal Article – Nalburiye Dergisi http://nalburiyedergisi.com/ 32 32 Liz Truss warns EU that she is ready to trigger Article 16 TheJournal.ie https://nalburiyedergisi.com/liz-truss-warns-eu-that-she-is-ready-to-trigger-article-16-thejournal-ie/ Sun, 09 Jan 2022 07:50:00 +0000 https://nalburiyedergisi.com/liz-truss-warns-eu-that-she-is-ready-to-trigger-article-16-thejournal-ie/ UK FOREIGN AFFAIRS SECRETARY Liz Truss has warned that she is ready to unilaterally roll back parts of the post-Brexit deal on Northern Ireland if negotiations she is leading fail. Truss said she would suggest “constructive proposals” to her European counterpart Maros Sefcovic this week during their first face-to-face talks. But she said she was […]]]>

UK FOREIGN AFFAIRS SECRETARY Liz Truss has warned that she is ready to unilaterally roll back parts of the post-Brexit deal on Northern Ireland if negotiations she is leading fail.

Truss said she would suggest “constructive proposals” to her European counterpart Maros Sefcovic this week during their first face-to-face talks.

But she said she was “willing” to trigger Article 16 of the Northern Ireland Protocol, which would suspend parts of the treaty designed to prevent a hard border in Ireland if an agreement cannot be reached.

Truss was put in charge of the negotiations after David Frost resigned from his post as Brexit minister last month.

She welcomes Sefcovic, Vice-President of the European Commission, during the Chevening campaign retreat offered to the British Foreign Minister during his visit on Thursday.

Writing in the Sunday Telegraph, she said it was her “top priority” to resolve the “unintended consequences” created by the protocol to keep the peace in Northern Ireland.

“When I see Maros Sefcovic this week for our first face-to-face talks, I will present our constructive proposals to resolve the situation.”

The current problems are “myriad and obvious”, she argued, citing issues such as bureaucracy when sending parcels between Northern Ireland and Britain and problems with the food supply. kosher.

“I am ready to work day and night to negotiate a solution,” continued Truss.

“But let me be clear, I will not endorse anything that prevents the people of Northern Ireland from enjoying the same tax and spending rulings as the rest of the UK, or who still see merchandise. circulate in our own country being subject to controls.

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“My priority is to protect peace and stability in Northern Ireland. I want a negotiated solution, but if we are to use legitimate provisions, including Article 16, I am ready to do so.

Last week, Sefcovic warned that “the foundation of the whole deal” negotiated between the UK and the EU would be in jeopardy if Truss took the drastic step.

“It’s a very embarrassing element in the discussions. You are trying to achieve something together and – bam – there is the threat of Article 16 again, ”he told German newspaper Der Spiegel.

“It touches on the fundamentals of our relationship.

“The Northern Ireland Protocol was the most complicated part of the Brexit negotiations, and it is the foundation of the whole deal. Without the protocol, the whole system will collapse. We must prevent this at all costs.


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Offline: the story of the origins – towards a deep ecology https://nalburiyedergisi.com/offline-the-story-of-the-origins-towards-a-deep-ecology/ Fri, 07 Jan 2022 17:25:03 +0000 https://nalburiyedergisi.com/offline-the-story-of-the-origins-towards-a-deep-ecology/ Regardless of the precise origins of SARS-CoV-2, there is no need to wait for the definitive source of COVID-19 to be identified to draw important lessons, lessons that the global health community currently appears to be ignoring. . There are four immediate priorities. First, countries need to strengthen public health surveillance to establish a robust […]]]>

Regardless of the precise origins of SARS-CoV-2, there is no need to wait for the definitive source of COVID-19 to be identified to draw important lessons, lessons that the global health community currently appears to be ignoring. . There are four immediate priorities. First, countries need to strengthen public health surveillance to establish a robust global early warning system for pneumonia of unknown etiology. The Independent Panel for Pandemic Preparedness and Response, chaired by Helen Clark and Ellen Johnson Sirleaf, made the recommendation in its May 2021 report to the World Health Assembly. They also recommended that WHO be empowered to investigate suspicious outbreaks with pandemic potential in all countries in the short term; that declarations of public health emergencies of international concern should be based on the precautionary principle; and that the WHO IHR Emergency Committee should be more transparent. Progress on these proposals has ranged from slow to non-existent. A $ 100 million pandemic intelligence “hub” has been established in Berlin. A first meeting to discuss the possibilities of an international treaty on pandemic preparedness concluded in December 2021. But there is little sense of urgency. The slimy bureaucracy of global health threatens once again to dampen any impetus for action.

A second lesson concerns the dividing debate around the origins of SARS-CoV-2. The accusations leveled against countries, institutions and individuals have damaged the conditions for trusting cooperation between scientists and governments. Yet a productive environment for collaboration is an essential prerequisite if we are to improve our collective response to a future pandemic. The confrontational approach adopted by some politicians, policy makers and journalists has poisoned the atmosphere of cooperation. China has been particularly criticized. It is sometimes difficult to be a friend of China when examining the long list of concerns raised against the government: the plight of the Uyghurs in Xinjiang; repression of freedoms in Tibet; military maneuvers over Taiwan; Hong Kong’s dreaded National Security Law; quadruple the country’s nuclear fleet by 2030; and the asserted erasure of criticism by civil servants of an already restricted public sphere. But without wishing in any way to alleviate these concerns, our shared future health security depends on the full and welcome participation of all countries, including China, in international cooperative efforts to respond to the dangers of a pandemic. Now is not the time to blame China for the origins of COVID-19. On the contrary, the time has come to strengthen our solidarity with China in the face of a common global threat. Third, the debate over a lab leak has had at least one positive outcome. He shone the spotlight on laboratories licensed to handle some of the world’s most dangerous pathogens. It is no exaggeration to say that these laboratories exist in an almost complete regulatory vacuum. There should be swift action to create an independent inspection regime for the 59 Biosafety Level 4 laboratories in 23 countries around the world today – in Europe (25), North America (14), Asia (13), Australia (4) and Africa (3). Alarmingly, only a quarter of the countries hosting these facilities score well on biosecurity measures.

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Finally, there are lessons for One Health – the links between human and animal health. SARS-CoV-2 is most likely the product of the ecological conditions that our species has created. Our numbers, density and connectivity. And more particularly our interactions with animals, interactions that are increasing as the climate crisis decreases the availability of resources, thus forcing humans and animals to occupy increasingly crowded spaces. Just as the appreciation of the importance of climate for health has triggered an environmental shift in global health, the pandemic is expected to precipitate an ecological shift. The living conditions of organisms interacting with each other and with their environment will be critical to improving pandemic preparedness. And here the writings of Arne Naess could be instructive. Naess was a Norwegian philosopher who died in 2009. He coined the term Deep Ecology to represent a view of the biosphere that emphasized the intrinsic value of human and non-human life. It is a profound ecological shift that we urgently need today – a radical transformation of our conception of health, habitat and humanity. The most important lesson of all.

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Clinton Journal | State climatologist: December 2021 was unusually hot https://nalburiyedergisi.com/clinton-journal-state-climatologist-december-2021-was-unusually-hot/ Wed, 05 Jan 2022 16:37:10 +0000 https://nalburiyedergisi.com/clinton-journal-state-climatologist-december-2021-was-unusually-hot/ CHAMPAGNE – Preliminary data shows that December was among the 5 hottest on record in Illinois, with no snow on Christmas, according to Illinois state climatologist Trent Ford of the Illinois State Water Survey. University of Illinois. The exact ranking for December 2021 will be confirmed later this month. The statewide average temperature in December […]]]>

CHAMPAGNE – Preliminary data shows that December was among the 5 hottest on record in Illinois, with no snow on Christmas, according to Illinois state climatologist Trent Ford of the Illinois State Water Survey. University of Illinois. The exact ranking for December 2021 will be confirmed later this month.

The statewide average temperature in December was 39.4 degrees, 9.6 degrees above the 1991-2020 average. This December was the hottest month on record in Carbondale, the second hottest on record in Quincy, the third hottest on record in St. Louis, Springfield and Peoria, the fourth hottest in Rockford and Champaign-Urbana, and the fifth hottest in Chicago.

Average December temperatures ranged from a low of 30 in northern Illinois to a high of 40 in southern Illinois, between 6 and 12 degrees above normal. High temperatures have regularly reached the 70s last month in southern Illinois, including a high of 78 degrees in Randolph County on Dec. 4. Carbondale recorded 74 degrees on December 25, one of the hottest Christmas temperatures on record in the state.

Precipitation

Total precipitation for December ranged from about 1 inch in far western Illinois to nearly 6 inches in far southeastern Illinois. Most of western Illinois was 0.50 to 1.5 inches drier than normal, while eastern and southern Illinois were nearly 0.50 inches wetter than normal. normal for the month.

Snowfall was 1 to 8 inches below normal in December. Snow totals ranged from 4 inches in extreme northwestern Illinois to 0 inches south of Interstate 72.

Many places only recorded their first measurable snowfall in the last week of the month. Chicago recorded its first measurable snowfall of the season on December 28, eight days later than the last previously recorded first snowfall.

With the liquid water content of snow and precipitation taken together, the preliminary statewide average total precipitation in December was 2.70 inches, 0.02 inches above the 1991-2020 average. .

Severe weather

Extreme weather conditions, including tornadoes, hail, and strong winds, tend to be most common in Illinois between April and June. However, unlike Atlantic hurricanes or extreme cold, Illinois does not have a “tornado season” because tornadoes and other severe weather can occur and do occur year round in the state. .

The most notable event took place on the night of December 10, when severe thunderstorms moved through the southern Midwest and south central, causing multiple very strong tornadoes in Illinois, Missouri, Arkansas, Tennessee and Kentucky. The tornado outbreak has left dozens of people dead in the region, including six dead in Illinois, many injured and thousands of homes and structures damaged or destroyed.

Overall, the NOAA Storm Prediction Center presents nine Illinois tornado reports for December, compared with an Illinois average of just over one December tornado per year between 1950 and 2020.

Outlook

The short and long term outlook indicates the potential for actual winter conditions in the Midwest. The Climate Prediction Center’s 8- to 14-day forecast shows high probabilities of below normal temperatures statewide for the second week of January, with higher probabilities of drier-than-normal weather during the same. period.

Meanwhile, the outlook for the whole of January shows the highest likelihood of near or below normal temperatures and above normal precipitation, still reflecting some of the weakening La Niña pattern in the Pacific. .


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Bridgewater appoints new co-CEOs as McCormick steps down for possible Senate race https://nalburiyedergisi.com/bridgewater-appoints-new-co-ceos-as-mccormick-steps-down-for-possible-senate-race/ Mon, 03 Jan 2022 18:04:00 +0000 https://nalburiyedergisi.com/bridgewater-appoints-new-co-ceos-as-mccormick-steps-down-for-possible-senate-race/ Bridgewater Associates on Monday appointed two new co-CEOs to head the world’s largest hedge fund, after CEO David McCormick told staff he would step down to consider running for the US Senate in Pennsylvania. Bridgewater elevated to co-CEO Nir Bar Dea, 40, along with former Aetna chief executive Mark Bertolini, 65, who has been a […]]]>

Bridgewater Associates on Monday appointed two new co-CEOs to head the world’s largest hedge fund, after CEO David McCormick told staff he would step down to consider running for the US Senate in Pennsylvania.

Bridgewater elevated to co-CEO Nir Bar Dea, 40, along with former Aetna chief executive Mark Bertolini, 65, who has been a member of Bridgewater’s board for three years, according to a memo to employees at Bridgewater which has been released publicly.

The announcement formalizes a transition that many have been waiting for given Mr. McCormick’s political ambition. In December, he posted an ad touting his military record and family Christmas tree farm that all but declared his candidacy for the Republican primary.

Founded by Ray Dalio, known for his unorthodox management style known as radical transparency, Bridgewater manages around $ 150 billion.

Mark Bertolini, former CEO of Aetna, has been a member of the Bridgewater board of directors for three years.


Photo:

ANDY DAVIS FOR WALL STREET JOURNAL

It has been in the throes of poor performance in recent years, with its flagship Pure Alpha macro fund posting its worst monthly loss in Bridgewater history in March 2020. In a letter to investors at the time, Mr Dalio wrote that the coronavirus hit the company “at the worst possible time” as it was positioned for market gains.

Pure Alpha recovered somewhat to end 2020 down 7.6%, but still lost the ability to charge performance fees to invested clients at the start of the year. A more indebted version lost 12.6%.

Pure Alpha, which bets on and against asset classes around the world including interest rates, commodities and stocks, gained 8.1% for 2021 through December 29, with almost everything this in December, according to people familiar with Bridgewater. The gain is well below last year’s increases for some commodities and stocks, but the fund’s rebound in December means Bridgewater is likely close or has already reached the point where it can start charging clients performance fees again. which were invested in early 2020.

Mr Bar Dea was promoted to Deputy Managing Director under Mr McCormick in early 2021 and previously headed the company’s ‘investment engine’. He joined Bridgewater in 2015. Mr. Bertolini led Aetna from 2010 to 2018 and became a director of CVS Health Corp.

after CVS acquired Aetna in a $ 69 billion deal.

Democrats face a new set of challenges in the upcoming 2022 midterm election after losing the Virginia gubernatorial race to Republican Glenn Youngkin. Gerald F. Seib of the WSJ explains why. Photographic illustration: Nikki Walker

Write to Juliet Chung at juliet.chung@wsj.com

Copyright © 2021 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8


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Chinese manufacturing sector shows signs of strength https://nalburiyedergisi.com/chinese-manufacturing-sector-shows-signs-of-strength/ Fri, 31 Dec 2021 04:56:00 +0000 https://nalburiyedergisi.com/chinese-manufacturing-sector-shows-signs-of-strength/ BEIJING – China’s manufacturing and service sectors showed unexpected signs of recovery to end the year, according to two official indicators released on Friday, as Beijing tried to stop a downward spiral sparked by a real estate crisis and coronavirus outbreaks. China’s official purchasing managers’ index rose to 50.3 in December, from 50.1 in November, […]]]>

BEIJING – China’s manufacturing and service sectors showed unexpected signs of recovery to end the year, according to two official indicators released on Friday, as Beijing tried to stop a downward spiral sparked by a real estate crisis and coronavirus outbreaks.

China’s official purchasing managers’ index rose to 50.3 in December, from 50.1 in November, the National Bureau of Statistics reported on Friday. The result was better than the median of 50.0 expected by economists polled by the Wall Street Journal. It is also the second month in a row that the manufacturing PMI has remained above the 50 mark that separates expansion from contraction.

The statistics bureau attributed the recovery in manufacturing sentiment to lower commodity prices caused by government intervention to stabilize supply and prices, which in turn eased cost pressures for manufacturers.

However, a manufacturing sub-index weakened to 51.4 in December, below November’s figure of 52, with output in the textile, petroleum and coal industries each languishing below the 50 mark. , according to official data.

After rebounding from a previous electricity crisis that hit many industries in the fall, the lockdown of factories in the Yangtze River Delta earlier this month following a new round of coronavirus infections is expected affect China’s industrial production and exports at the end of the year, which are expected to come out in the coming weeks.

Even as output weakened, market demand for output from Chinese factories improved slightly in December, with a measure of domestic orders edging up. A sub-index that tracks total new orders rose to 49.7 in December, above 49.4 in November but still in contractionary territory. The sub-index measuring new export orders, however, weakened to 48.1 in December from 48.5 in the previous month, the eighth consecutive month that this indicator has contracted.

Beyond the factory, China’s service sector has seen a tentative recovery after the latest round of coronavirus control measures.

China’s official non-manufacturing PMI, which includes both services and construction activity, rose to 52.7 in December, from 52.3 the month before, the statistics bureau said separately on Friday. .

The sub-index measuring service activity rose to 52 this month, from 51.1 in November, as airlines, restaurants and entertainment venues rocked November’s coronavirus shutdowns. The sub-index measuring construction activity fell to 56.3 from 59.1 in November as construction was held back by unusually cold weather for the season.

“Improving PMIs showed that market confidence is bolstered by recent easing and the commitment of key leaders to prioritize stability next year. But that doesn’t mean that major economic indicators will soon end their downward trajectory, ”said Tang Jianwei, an economist at the Bank of Communications.

China began to shift its political stance this month to strengthen support for the economy as signs of cooling in the world’s second-largest economy began to appear in the third quarter of the year.

As the economy has been hit by an electricity crisis that has slowed down the production of factories, waves of Covid-19 epidemics that have halted a recovery in consumption and a collapse in its real estate market, the Bank People’s Republic of China earlier this month cut its benchmark interest rate for the first time in nearly two years. The move followed a drop in the reserve requirement ratio of commercial banks, effectively freeing up a large amount of funds for loans.

Key leaders pledged this month to prioritize stable growth while setting economic priorities for next year. This language has prompted the market to anticipate more aggressive interest rate cuts and supportive measures in 2022, when leader Xi Jinping is expected to secure a third term in office and reshuffle other government posts.

But even these steps might not be enough to reverse the current downtrend, said Mr. Tang of Bank of Communications, who warns the economy will still face formidable headwinds next year. In particular, Mr. Tang is concerned that consumption and investment will continue to be dragged down by the continued collapse of the real estate sector, as well as the likelihood of an increase in Covid-19-related shocks and a slowdown in public spending.

Write to Jonathan Cheng at jonathan.cheng@wsj.com

Copyright © 2021 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8


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Neiman Marcus sells Natick Mall unit to retail redeveloper https://nalburiyedergisi.com/neiman-marcus-sells-natick-mall-unit-to-retail-redeveloper/ Mon, 27 Dec 2021 19:29:40 +0000 https://nalburiyedergisi.com/neiman-marcus-sells-natick-mall-unit-to-retail-redeveloper/ Department store Neiman Marcus sold its 94,000 square foot unit at Natick Mall for $ 12.6 million to Boston real estate company The Bulfinch Cos., According to real estate database CoStar. Bulfinch has a history of shopping center redevelopment. In 2012, she transformed Chestnut Hill’s Atrium Mall into an office and medical center, which now […]]]>

Department store Neiman Marcus sold its 94,000 square foot unit at Natick Mall for $ 12.6 million to Boston real estate company The Bulfinch Cos., According to real estate database CoStar.

Bulfinch has a history of shopping center redevelopment. In 2012, she transformed Chestnut Hill’s Atrium Mall into an office and medical center, which now includes a wing of the Dana-Farber Cancer Institute.

It is partnering with Chicago investment management firm Harrison Street Real Estate Capital, LLC to acquire and develop the property, according to a Dec. 17 press release from Bulfinch.

“Bulfinch is delighted to partner with Harrison Street and Brookfield Properties as we reposition this irreplaceable property to meet today’s market demands,” said Eric Schlager, CEO of Bulfinch, in a statement.

A company spokesperson said they were not yet able to disclose future plans for the property.

Dallas-based Neiman Marcus filed for bankruptcy in May 2020. It will continue to operate at the Natick Mall until September, according to Bulfinch’s press release.

While the majority of the mall is owned by New York-based Brookfield Properties, Neiman Marcus owned the two-story unit he occupied.

The Bulfinch acquisition follows a trend by large retailers to leave the mall or convert to other uses. In recent years, Natick Mall has lost retailers Lord & Taylor, American Girl, Gymboree, and Brookstone. A former mall JCPenny has been converted to a Wegmans grocery store and part of the old Sears is now a Dave & Buster entertainment area.

The sale of 310 Speen St. closed on December 20 and was negotiated by Atlantic Retail of Needham. The building is valued by the Town of Natick at $ 10.7 million.


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Travel problems worsen as Omicron variant hits pilots and flight attendants https://nalburiyedergisi.com/travel-problems-worsen-as-omicron-variant-hits-pilots-and-flight-attendants/ Sat, 25 Dec 2021 17:00:00 +0000 https://nalburiyedergisi.com/travel-problems-worsen-as-omicron-variant-hits-pilots-and-flight-attendants/ Airlines continued to clean up flights on Saturday as Covid-19 infections hit pilots and flight attendants, leaving carriers short-staffed to operate busy schedules over the Christmas holiday weekend. Airlines have canceled nearly 900 U.S. flights so far on Saturday after canceling nearly 700 on Friday. Travel could continue as people return home from the holidays […]]]>

Airlines continued to clean up flights on Saturday as Covid-19 infections hit pilots and flight attendants, leaving carriers short-staffed to operate busy schedules over the Christmas holiday weekend.

Airlines have canceled nearly 900 U.S. flights so far on Saturday after canceling nearly 700 on Friday. Travel could continue as people return home from the holidays – airlines canceled more than 200 flights scheduled for Sunday, according to FlightAware, a flight tracking site. Some European airlines and rail operators are also grappling with higher sickness rates among employees, the latest sign of how the rapidly spreading Omicron variant is disrupting business, even in industries where the workforce is labor intensive. The work is heavily vaccinated.

Cancellations in the United States increased among carriers, including United Airlines Holdings Inc.

UAL 0.67%

and Delta Air Lines Inc.,

DAL 0.43%

which began to preventively cut flights on Thursday. Airlines have rushed to reassign and reroute pilots and planes to cover flights, in some cases offering additional pay to encourage healthy employees to take shifts over the Christmas holidays.

New York’s John F. Kennedy International Airport on Friday, when hundreds of flights were canceled across the United States


Photo:

Scott Heins / Getty Images

United said 230 flight cancellations on Saturday were due to the impact of the variant. Delta, which cited both the winter conditions and the impact of Omicron, canceled about 295 major flights on Saturday, or 15% of what it had planned, according to FlightAware.

“The people at Delta are working around the clock to reroute and replace planes and crews to get customers where they need to be as quickly and safely as possible,” the airline said Friday.

The Omicron variant becomes a disruptive force as it tears itself apart across the world. Its accelerated spread hampered operations and slowed sales for some companies in just a few days.

Many travelers were aiming to avoid canceling their plans, and U.S. airports screened nearly 2.2 million people on Thursday. But airlines in the United States and Europe are struggling to maintain staffing levels as workers report sick.

Significant increase in sick leave at German national carrier Deutsche Lufthansa AG

, has exceeded its contingency plans for the holidays, a spokesperson said on Friday. This forced him to cancel some transatlantic flights from Frankfurt to cities like Boston, Houston and Washington.

The spokesperson said the airline would not comment on whether the sick leave was related to the coronavirus as it was not informed of the nature of the illnesses. “We have planned a very large buffer for the holiday period. However, this is unfortunately not enough for the high disease rate, ”the airline said.

Flight crew at Ronald Reagan Washington National Airport on Friday as Covid-19 left airlines understaffed


Photo:

Eric Lee / Bloomberg News

Connie Tzeng was scheduled to fly from Chicago to Atlanta on Friday to visit her parents for her 30th birthday on Christmas Day. She has been tested for Covid-19, bought home tests for anyone to take, and stocked up on high-quality masks.

At around 8 p.m. Thursday night, she learned that her United flight had been canceled.

Ms Tzeng and her husband considered booking change options and found that they would either have to travel on hold or fly from Milwaukee, which would involve layovers and more time spent at airports. They have decided to accept a refund for the canceled flight and will instead spend Christmas Day eating Chinese food at home.

“It sounds like a bummer, in that a lot of the things I’ve put a lot of effort on seem a bit questionable now because we’re just staying home, even though neither my husband nor I currently have Covid “she said. noted.

During the year, several U.S. airlines faced staff shortages and other strains as they ramped up operations, and they took additional steps to protect themselves from potential collapses. holidays.

American Airlines Group Inc.,

who previously avoided disruptions, said on Saturday they decided to cancel some flights due to a number of illness calls linked to Covid-19. About 90 major US flights were canceled on Saturday morning, according to FlightAware.

“We proactively informed affected customers yesterday and are working hard to re-let them quickly,” the airline said.

JetBlue Airways Corp.

said he entered the holiday season with his highest level of staff since the start of the pandemic, but still faced problems due to a growing number of Omicron-related illness calls . A spokesperson for the airline said the carrier has had to cancel a number of flights despite its best efforts, and more cancellations and other delays are possible.

Passenger jets at Washington’s Ronald Reagan National Airport on Friday when cancellations increased.


Photo:

Eric Lee / Bloomberg News

The airline, which canceled 12% of scheduled flights on Saturday, according to FlightAware, said it was trying to minimize disruption by reducing flights and giving customers as early notice as possible. The airline is also trying to bolster its workforce by deploying managers to frontline operations where possible and using incentives to encourage crews to take additional flights.

Allegiant Travel Co.

, a low-cost, Las Vegas-based carrier, has also been hit by staffing issues as cases of the Omicron variant have increased. Allegiant said it reimbursed customers whose flights were canceled and provided additional compensation of up to $ 300 and $ 150 in vouchers.

Airline customer service centers have been strained by the calls. Jason Stapleton spent an hour on hold with United on Thursday after the airline canceled his flight from California to Kansas City, offering a trip with an overnight stopover in Chicago rather than the hour-long stopover in Denver qu ‘he had planned.

“It was a complicated trip at first and they threw a huge wrench into it,” he said. He ended up booking another flight on Southwest.

A security checkpoint at Denver International Airport on Friday as the travel industry felt the effects of the Omicron variant.


Photo:

David Zalubowski / Associated press

In Europe, rail service – a popular means of domestic and cross-border travel – has also been affected. British rail operators on Friday warned passengers of widespread delays, cancellations, last-minute schedule changes and rerouting of journeys that could affect connections, stretching from London and across parts of the UK

“We are seeing an increase in staff illnesses due to Covid, side effects from booster injections and seasonal illnesses,” an update on Britain’s National Rail website, a shared services site that links the passengers to rail operators across the country and helps them plan trips.

National Rail said late Christmas Eve trains were at particular risk of being canceled. Some trains were also canceled on Friday due to planned labor strikes affecting some services to Birmingham, Edinburgh and elsewhere, according to railway officials.

Eurostar, which operates at King’s Cross station in London, said it has canceled a small number of services.


Photo:

Matt Dunham / Associated press

Southern Trains, which operate in the south of England, told customers it expected to have to cancel various services at short notice during the holiday period. The company said in a statement, “Like many other businesses across the country, we are experiencing an increase in employee illnesses due to Covid, side effects from booster shots and seasonal illnesses. This means that we unfortunately may have to cancel or modify services at short notice. “

A spokeswoman for SNCF, France’s state-owned railway company, said on Friday that national trains were running normally, but a small number of regional trains had been canceled and replaced with bus services. “The disturbance remains occasional, local and marginal,” she said. “Like other companies, we have been affected by the fifth wave.” She said some absenteeism was because employees tested positive or because they had been in contact with someone who tested positive.

Eurostar, the rail service that connects the UK with France, Belgium and the Netherlands, said it canceled a small number of services because fewer people were traveling.

Write to Alison Sider at alison.sider@wsj.com

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Stocks End Higher as Investors Digest Omicron Spread, Economic Data https://nalburiyedergisi.com/stocks-end-higher-as-investors-digest-omicron-spread-economic-data/ Thu, 23 Dec 2021 23:18:00 +0000 https://nalburiyedergisi.com/stocks-end-higher-as-investors-digest-omicron-spread-economic-data/ U.S. stock indices closed higher in the shortened holiday trading week, with the S&P 500 hitting a new high, as investors digest economic data and developments related to the Omicron variant spread. The S&P 500 rose 0.6%, or 29.23 points, to 4,725.79, its 68th closing record in 2021. Thursday’s rise, its third consecutive daily increase, […]]]>

U.S. stock indices closed higher in the shortened holiday trading week, with the S&P 500 hitting a new high, as investors digest economic data and developments related to the Omicron variant spread.

The S&P 500 rose 0.6%, or 29.23 points, to 4,725.79, its 68th closing record in 2021. Thursday’s rise, its third consecutive daily increase, followed a Wednesday session in the during which strong economic data helped allay investor concerns about the risks posed by Covid-19 and inflation. The tech-focused Nasdaq Composite rose 0.85%, or 131.48 points, to 15,653.37. The Dow Jones Industrial Average added 0.55%, or 196.67 points, to 35,950.56.

New data from the Commerce Department showed that growth in consumer spending in the United States slowed down last month. The US price index for personal consumption expenditure excluding food and energy, an indicator of inflation, rose 4.7% in November from a year earlier. The first claims for unemployment benefits, an indicator of layoffs, remained at 205,000 during the week ended December 18, unchanged from the previous week.

Market gains this week suggest investors remain focused on the trajectory of the pandemic, said Greg Bassuk, managing director of AXS Investments, an asset management company for alternative investments. Developments in Covid-19 treatments and vaccines appear to be contributing to expectations of an economic recovery in 2022 despite the spread of the Omicron variant, added Bassuk.

“We think Covid is still the investor story,” Mr. Bassuk said.

U.S. regulators have cleared the use of a Covid-19 pill from Merck and its partner Ridgeback Biotherapeutics LP, the latest easy-to-use therapy that infected people can take to avoid hospital. Merck stock fell 0.6%. Novavax said its two-dose Covid-19 vaccine has demonstrated “strong immune responses” against Omicron and other variants. Its shares closed 3.3% lower.

Investors fear the Omicron variant will put additional pressure on inflation.


Photo:

ANDREW KELLY / REUTERS

Higher inflation and low yields on government bonds have deterred some investors from holding them this year, due to lower yields linked to their hold-to-maturity. The yield on the benchmark 10-year Treasury bond climbed to 1.492% Thursday from 1.457% Wednesday. Yields increase when prices fall.

Strong inflation data helped the Federal Reserve earlier this month accelerate the end of its pandemic-era stimulus measures. Investors and central bankers fear the Omicron variant will put additional pressure on inflation.

“Inflation is center stage for a lot of people,” said Andrew Cole, London head of multi-asset management at Pictet Asset Management. “Inflation is expected to peak, if not in the first quarter, in the first half of next year. You may have to wait until the second half of next year for central banks to relax. “

While the cost of groceries, clothing, and electronics rose in the United States, prices in Japan remained low. Peter Landers of the WSJ is shopping in Tokyo to explain why stable prices, while good for your wallet, can be a sign of a slow growing economy. Photo: Richard B. Levine / Zuma Press; Kim Kyung Hoon / Reuters

AXS Investments’ Mr Bassuk said Thursday’s gains in travel and hospitality stocks reflect investor optimism for the containment of the pandemic. Shares of the Marriott International hotel chain gained 1.6% and United Airlines Holdings rose 0.7%.

Investors appear to be positioning themselves for a rebound in global travel next year, depending on changing rates of Covid-19 cases and changes in policy, said Paul Baiocchi, chief strategist of traded funds. stock exchange at SS&C ALPS Advisors.

“There is an opportunity to increase travel spending,” said Baiocchi, who expects a growth stock rotation next year.

Abroad, the Stoxx Europe 600 grew by 1%. Major Asian stock indices closed higher, with China’s Shanghai Composite gaining 0.6% and South Korea’s Kospi 0.5%. Japan’s Nikkei 225 added 0.8%.

JD.com shares fell 7% in Hong Kong after Chinese social media giant Tencent Holdings said it was divesting most of its stake in the online retailer. Tencent shares rose 4.2%. Hong Kong’s larger Hang Seng Index gained 0.4%.

Write to Dave Sebastian at dave.sebastian@wsj.com and Caitlin Ostroff at caitlin.ostroff@wsj.com

Corrections and amplifications
The technology-focused Nasdaq Composite rose 0.85%. An earlier version of this article incorrectly stated that the index rose 0.2%. (Corrected December 23)

Copyright © 2021 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the print edition of December 24, 2021 as “S&P 500 Scales Another High”.


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Susie Lee Accuses Media of Inflation, Attacks Biden, Hates “My Local Newspaper” | VICTOR JOECKS https://nalburiyedergisi.com/susie-lee-accuses-media-of-inflation-attacks-biden-hates-my-local-newspaper-victor-joecks/ Wed, 22 Dec 2021 05:00:00 +0000 https://nalburiyedergisi.com/susie-lee-accuses-media-of-inflation-attacks-biden-hates-my-local-newspaper-victor-joecks/ Rep. Susie Lee’s biggest worry about inflation isn’t rising prices. These are the people who care. “Media coverage of inflation breeds inflation,” Lee said this month in a video fundraiser obtained by The Review-Journal. “The biggest worry about inflation is that people are starting to fear inflation. It’s just like a snowball effect. This feeling […]]]>

Rep. Susie Lee’s biggest worry about inflation isn’t rising prices. These are the people who care.

“Media coverage of inflation breeds inflation,” Lee said this month in a video fundraiser obtained by The Review-Journal. “The biggest worry about inflation is that people are starting to fear inflation. It’s just like a snowball effect.

This feeling would surprise families wondering how they are going to afford groceries, clothes and gasoline this month. They didn’t need a newspaper article to realize that their money isn’t going as far as it used to be.

Economists from the Ministry of Labor have also noticed. The consumer price index is up 6.8% compared to last year. This is the highest level for almost 40 years. They identified price increases as the source of inflation, not media coverage of these price increases.

Lee blamed the price hikes on supply chain disruptions and “nobody did anything last year.” She also said Federal Reserve officials are “the people who control inflation.”

Lee is correct that the causes of inflation are multifaceted, but President Joe Biden and Congress bear some responsibility. Turns out, killing the Keystone pipeline and paying people not to work weren’t a good way to fight rising prices.

But Lee is unrepentant. “I recognize that things are getting expensive, but I’m not going to apologize for it,” she said.

It’s not just Republicans who have noticed that Biden continues to dodge the press. Lee blamed him for it.

“Personally, I will criticize the president,” she said. “It needs to come out more in front of the press. I know people who are nervous about this.

She’s right, and so are the people Biden makes nervous. His public appearances often include grimace worthy sequences.

Interestingly, she believes Virginia gubernatorial candidate Terry McAuliffe made a tactical error in frequently referring to Donald Trump.

“I’m not talking about Trump in my district because he’s irrelevant in my opinion,” she said. “People don’t vote for him. I felt McAuliffe was trying to tie everything too much to Trump, and I really think it hurt him.

It’s a pretty good analysis. It will be interesting to see if Lee sticks to this if Biden’s poll numbers stay low.

Lee also appears to be a loyal reader of the Review-Journal. “I read my local newspaper before I pick up a national newspaper every day,” she said. But she’s not a fan. “I hate my local newspaper because it never gives me fair coverage,” she added. “But I still read it, always.”

To justify this attitude, Lee cited a story about Home Secretary Deb Haaland’s recent visit to Las Vegas. Lee was upset that she had not received “credit” to secure funding for water recycling programs. Go understand that a story about a Cabinet secretary visit would focus more on the secretary than on a local member of the House. The reports aren’t meant to read like an office press release, although it’s understandable why a Democrat might think so.

Lee can be dismissive of inflation in private. But expect her to sing a different tune when she knows the audience is listening to her.

Victor Joecks’ column appears in the Opinion section every Sunday, Wednesday and Friday. Contact him at vjoecks@reviewjournal.com or 702-383-4698. To follow
@victorjoecks on Twitter.



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Bank of Montreal buys the American unit of BNP Paribas https://nalburiyedergisi.com/bank-of-montreal-buys-the-american-unit-of-bnp-paribas/ Mon, 20 Dec 2021 08:37:00 +0000 https://nalburiyedergisi.com/bank-of-montreal-buys-the-american-unit-of-bnp-paribas/ BNP Paribas HER BNPQY -2.15% announced Monday that it has agreed to sell West Bank to Bank of Montreal BMO -2.80% for $ 16.3 billion, in one of the largest recent banking transactions. The cash transaction would facilitate Bank of Montreal’s expansion into the United States, where it has worked to strengthen its presence in […]]]>

BNP Paribas HER

BNPQY -2.15%

announced Monday that it has agreed to sell West Bank to Bank of Montreal BMO -2.80%

for $ 16.3 billion, in one of the largest recent banking transactions.

The cash transaction would facilitate Bank of Montreal’s expansion into the United States, where it has worked to strengthen its presence in recent years. Together, the banks are said to have some $ 870 billion in assets. The deal is expected to be finalized in 2022.

Bank of the West operates commercial and consumer banking segments, in addition to financing and other specialist services. The San Francisco-based bank has about $ 89 billion in deposits, assets of about $ 105 billion, and about 500 branches in the Midwest and West. It has belonged to the French BNP since 1979.

The Wall Street Journal reported on Sunday that BNP and BMO, as the Bank of Montreal is called, were in advanced talks and a deal could be reached as early as this week.

The Bank of Montreal is the fourth largest bank in Canada. Its U.S. division now generates around 38% of the bank’s revenue, up from around 28% three years ago, chief executive Darryl White said on an investor call earlier this month. Profits for the US division of the bank rose 58% in the fourth quarter, compared to an increase of 42% for its Canadian division.

In the United States, BMO operates commercial, retail, wealth management and capital markets operations. The bank said it sees a major opportunity for growth in its wealth management business in the United States.

BMO opened its first branch in the United States in 1818, about a year after its founding. In the 1990s, it became the first Canadian bank to be listed on the New York Stock Exchange. The company has a market value of approximately $ 69 billion.

For large Canadian lenders looking to expand, limited domestic options for growth have made them look across the southern border.

Royal Bank of Canada,

the nation’s second-largest lender, bought Los Angeles-based City National Corp. for $ 5.4 billion in 2015. Canada’s largest bank, Toronto-Dominion,

now operates more branches in the United States than in Canada.

European lenders who planted flags in the United States from the late 1980s have failed to gain much ground. Royal Bank of Scotland Group PLC sold to Citizens Financial Group Inc.

in 2015. HSBC Holdings PLC announced last year that it would close a third of its branches in the United States.

BBVA from Spain agreed to sell its US branch about a year ago to PNC Financial Services Group Inc.

for roughly $ 11.6 billion in a deal that created the fifth-largest retail bank in the United States

While major bank mergers have been rare since the 2008 crisis, there have been more of them this year than at any time since then.

But federal financial regulators have expressed interest in stopping the wave of mergers. In recent weeks, Democratic members of the board of directors of the Federal Deposit Insurance Corporation have been pushing to review regulations regarding large bank mergers. Banking officials fear that such scrutiny by the FDIC or other regulators, namely the Federal Reserve and the Office of the Comptroller of the Currency, could result in tighter controls on larger transactions.

The continued consolidation of financial institutions leaves consumers with fewer banking options and lessens competition, argued progressive policymakers. Regional banks see joining forces as the best way to tackle paltry loan profits and the ever-increasing spending needed to keep pace with technological improvements at the biggest banks.

Bloomberg reported on Thursday that BMO had initial talks about buying the BNP unit.

Write to Cara Lombardo at cara.lombardo@wsj.com and Orla McCaffrey at orla.mccaffrey@wsj.com

Copyright © 2021 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the print edition of December 20, 2021 under the title “Bank of Montreal Seeks BNP US Unit”.


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