cbe eddac – Nalburiye Dergisi http://nalburiyedergisi.com/ Sat, 19 Mar 2022 02:56:15 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://nalburiyedergisi.com/wp-content/uploads/2021/07/icon-1.png cbe eddac – Nalburiye Dergisi http://nalburiyedergisi.com/ 32 32 Survivors walk out of Ukrainian theater bombed in Russian airstrike https://nalburiyedergisi.com/survivors-walk-out-of-ukrainian-theater-bombed-in-russian-airstrike/ Sat, 19 Mar 2022 01:48:00 +0000 https://nalburiyedergisi.com/survivors-walk-out-of-ukrainian-theater-bombed-in-russian-airstrike/ LVIV, Ukraine – Mariupol rescuers evacuated 130 people from the wreckage of a theater hit by an airstrike this week and searched for other survivors, as Russia expanded its aerial assault on western Ukraine, hitting an aircraft repair plant near the Polish border, officials mentioned. “Hundreds of Mariupol residents are still under the rubble,” Ukrainian […]]]>

LVIV, Ukraine – Mariupol rescuers evacuated 130 people from the wreckage of a theater hit by an airstrike this week and searched for other survivors, as Russia expanded its aerial assault on western Ukraine, hitting an aircraft repair plant near the Polish border, officials mentioned.

“Hundreds of Mariupol residents are still under the rubble,” Ukrainian President Volodymyr Zelensky said during an address to the nation. “Despite the bombardments, despite all the difficulties, we will continue the relief efforts.”

Russian President Vladimir Putin has pledged to continue his invasion of ukraine in a rare public appearance before a crowd of tens of thousands of flag-waving supporters at a Moscow stadium, and President Biden warned Chinese leader Xi Jinping during a call on Friday that Beijing would face repercussions if he was aiding Russia in its military assault.

In Mariupol, around 1,300 people remained trapped in the basement of the theater where residents had sought refuge from Russian shelling, said Lyudmyla Denisova, Ukraine’s human rights commissioner, adding that it was difficult to be certain of the number of survivors. She confirmed no casualties.

“We hope they will be alive but at the moment we have no information about them,” she said in an interview on local television. The building was hit in an attack on Wednesday.

Efforts to sort out the wreckage and rescue the survivors are hampered as the rescue services were nearly wiped out by the attack on the southern port city.

Russian missiles targeted the Ukrainian region closest to the Polish border, hitting an airfield near Lviv; kyiv firefighters douse flames as shelling leaves residential areas in ruins; President Biden and Xi Jinping are expected to hold talks on Ukraine. Photo: Ismail Coskun/Associated Press

Getting medical attention for the injured could be difficult as “many doctors have been killed”, former governor Sergiy Taruta said overnight.

More than 9,000 people have been evacuated from Mariupol, Zelensky said in his overnight address. He said more than 180,000 Ukrainians have been rescued and tons of essential supplies delivered. Yet, he said, aside from seven humanitarian corridors that have been opened, Russian forces “continue to block the delivery of humanitarian aid to besieged towns in most areas.”

Mr Zelensky called on Russia to negotiate and said that in the coming days he would reach out to other nations like Switzerland, Israel, Italy and Japan, just as he did with states United States, Canada and Germany. “It’s time to meet. It’s time to talk. It is time to restore territorial integrity and justice for Ukraine. Otherwise, Russia’s losses will be so huge that several generations will not be enough to bounce back,” he said. “Ukraine’s proposals are on the table.

Russian missiles struck an aircraft repair factory in the west of the country on Friday in a long-range strike away from the fiercest fighting, while attacks continued on other towns.

The Ukrainian Air Force said Russia fired six cruise missiles from the Black Sea. Two were intercepted, preventing them from reaching their target near the airport in the western city of Lviv, about 80 km from the Polish border.

Polish immigration authorities said on Friday that the number of people who have fled Ukraine for Poland has now exceeded two million. More than three million Ukrainians have fled the country since the start of the war, according to the UN refugee agency.

A building at the aerial facility was destroyed, according to Lviv Mayor Andriy Sadovyi, who said work at the facility had been suspended before the strike. One person was injured and rescue workers were on hand to put out a fire, said Maksym Kozytskyi, head of Lviv’s regional military administration.

A damaged building Friday in Mariupol.


Photo:

ALEXANDRE YERMOCHENKO/REUTERS

The destruction in the residential areas of Mariupol was extensive.


Photo:

Maxar Technologies

Friday’s strike on the Lviv facility followed an airstrike Sunday on a similar site in Lutsk, also in western Ukraine. Workers at each site repair and modernize Ukrainian combat aircraft of various types. Oleg Zhdanov, a reserve colonel in the Ukrainian army and a military analyst, said the strikes showed Ukraine’s modest and aging air fleet continued to thwart the Russian war machine.

“It can only mean that our aviation becomes a big problem for Russia,” he said.

Most of the fighting between the invading Russian forces and Ukrainian troops was concentrated further east and south. In the eastern city of Kramatorsk, at least one missile hit a residential building overnight, killing two people and injuring 16, said Pavlo Kyrylenko, head of the regional military administration of the eastern Donetsk region.

The thud of artillery exchanges and small-arms fire was audible in the outskirts of the capital, Kyiv, overnight. A Russian rocket, believed to have been shot down by Ukrainian Air Defense Forces, landed in a downtown area, injuring half a dozen people who were cut by shards of glass.

Standing near the crater next to burnt buildings, Mayor Vitali Klitschko said one person had been killed and four children were among the injured. “These are the results of this horrible situation,” he said.

Mr Zelensky said Ukrainian forces took Russian conscripts prisoner on the battlefield. Russia has made no effort to recover its prisoners of war, he said, and some of them are refusing to return. In his evening speech, Mr. Zelensky said he would not publicly discuss his strategy on the ceasefire talks.

On Friday, rescuers pulled a man from the rubble of a building in Kharkiv, Ukraine.


Photo:

Andrew Marienko/Associated Press

“To work more quietly than on TV, radio or Facebook…I think that’s fair,” he said.

Mr Putin spoke to German Chancellor Olaf Scholz on Friday, saying Ukraine’s leaders were doing all they could to delay talks on a ceasefire by ‘putting forward increasingly unrealistic proposals’, according to the account. from the Kremlin on the phone call.

“Nevertheless, the Russian side is ready to continue the search for solutions in line with its well-known principled approaches,” the Kremlin said.

The call, which lasted just under an hour, focused on efforts to end the war in Ukraine, according to the German government. During the call, Mr. Scholz stressed the urgency of a ceasefire, an improvement in the humanitarian situation and progress in the search for a diplomatic solution to the conflict.

In Russia, celebrations marking the eighth anniversary of Moscow’s capture of Crimea from Ukraine took place Friday in central squares of cities across the country, Russian state television showed. Mr Putin addressed fans at Moscow’s Luzhniki Stadium, which hosted the men’s World Cup final in 2018 and has a capacity of 81,000.

Russian television showed Mr Putin on a stage in the center of the stadium standing against the background of reading, ‘For Russia’ and ‘For a world without Nazism’ – a reference to his false claim that Ukraine’s leadership is led by a cabal of neo-Nazis. Mr. Zelensky, the Ukrainian president, is Jewish.

Refugees entered Moldova from Ukraine on Thursday.


Photo:

Robin Loznak/Zuma Press

Even though Russia’s assault has met stiff resistance from Ukrainian forces and has stalled in recent days, with Russian fatalities reaching as high as 7,000, according to Western intelligence estimates, M Putin showed defiance to the crowded stadium.

“We will certainly implement all the expected plans,” Putin told the crowd to cheers and applause.

Mr. Biden spoke with Mr. Xi in a nearly two-hour videoconference on Friday in an effort to dissuade Beijing from getting more involved with Moscow in its war effort.

“President Biden has made clear the implications and consequences of China’s material support” for Russia, a senior US official said after the call.

Mr. Xi has sought to portray China as a peacemaker. “The Ukraine crisis is something we don’t want to see,” he told Biden, according to China’s official Xinhua news agency. “Conflict and confrontation are in no one’s interest.”

Australia also expanded its sanctions against Russia on Friday to include 11 additional banks and government entities, as well as billionaires Oleg Deripaska and Viktor Vekselberg. Foreign Secretary Marise Payne said the majority of Russia’s banking assets were now covered by sanctions, along with all entities that handle Russia’s sovereign debt.

Staff attended to a child at a hospital in Zaporizhzhia, Ukraine on Friday.


Photo:

Dmytro Smolyenko/Ukrinform/Zuma Press

Write to Isabel Coles at isabel.coles@wsj.com and Brett Forrest at brett.forrest@wsj.com

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Ivermectin did not reduce Covid-19 hospitalizations in largest trial to date https://nalburiyedergisi.com/ivermectin-did-not-reduce-covid-19-hospitalizations-in-largest-trial-to-date/ Fri, 18 Mar 2022 11:02:54 +0000 https://nalburiyedergisi.com/ivermectin-did-not-reduce-covid-19-hospitalizations-in-largest-trial-to-date/ Researchers testing repurposed drugs against Covid-19 found that ivermectin did not reduce hospital admissions, in the largest trial to date of the antiparasitic’s effect on the disease that caused it the pandemic. Ivermectin has received a lot of attention as a potential treatment for Covid-19, including from celebrities such as podcast host Joe Rogan. Most […]]]>

Researchers testing repurposed drugs against Covid-19 found that ivermectin did not reduce hospital admissions, in the largest trial to date of the antiparasitic’s effect on the disease that caused it the pandemic.

Ivermectin has received a lot of attention as a potential treatment for Covid-19, including from celebrities such as podcast host Joe Rogan. Most of the evidence has shown to be ineffective against Covid-19 or relied on low-quality data, infectious disease researchers have said. Public health authorities and researchers have said for months that the drug has shown no benefit in treating the disease. Taking large doses of the drug is dangerous, the Food and Drug Administration said.

The latest trial, involving nearly 1,400 Covid-19 patients at risk of severe disease, is the largest to show that those who received ivermectin as treatment fared no better than those who did. received a placebo.

SHARE YOUR THOUGHTS

How should the most recent studies on the effectiveness of ivermectin against Covid-19 influence its use in the future? Join the conversation below.

“There was no evidence that ivermectin was clinically useful,” said Edward Mills, one of the study’s principal investigators and a professor of health sciences at Canada’s McMaster University in Hamilton, Ont. Dr. Mills plans to present the findings, which have been accepted for publication in a major peer-reviewed medical journal, on Friday at a public forum sponsored by the National Institutes of Health.

Dr Mills and his colleagues examined 1,358 adults who visited one of 12 clinics in the Minas Gerais region of Brazil with symptoms of Covid-19. The patients all had a positive rapid test for SARS-CoV-2 and were at risk of having a severe case for reasons including a history of diabetes, hypertension, cardiovascular disease or lung disease.

Poster with the phrase “We have ivermectin” in a pharmacy in Ceilândia, Brazil.


Photo:

Ricardo Jayme/AGIF/Associated Press

The researchers prescribed half of the patients a course of ivermectin pills for three days. The other half received a placebo. They tracked whether patients were hospitalized within 28 days. Researchers also looked at whether patients on ivermectin cleared the virus from their bodies faster than those given a placebo, whether their symptoms cleared sooner, whether they were in hospital or on ventilators for less time, and there was a difference in death. rates for both groups.

To ensure they were thorough, the researchers analyzed the data in three different ways. They looked at data from all patients; then analyzed the data of patients who received ivermectin or a placebo 24 hours before their hospitalization; and in a third review, looked at data from patients who said they strictly adhered to their dosing regimen. In each scenario, they found that ivermectin did not improve patient outcomes.

“This is the first large prospective study that should really help put ivermectin to rest and give no credibility to its use for Covid-19,” said Peter Hotez, dean of the National School of Tropical Medicine. from Baylor College of Medicine. , who reviewed the results.

Ivermectin is mainly used to treat patients with certain parasitic diseases. It has antiviral properties, but has not been approved by the FDA to treat viral infections.

Given its antiviral prospects, scientists early in the pandemic believed it could be a candidate for the treatment of Covid-19. In June 2020, a group of Australian researchers published a paper showing that large amounts of ivermectin could stop coronavirus replication in cell cultures. But there was a catch: To achieve this effect, a person had to take up to 100 times more ivermectin than the dose approved for use in humans.

Some ivermectin studies published in journals or on preprint servers prior to peer review showed no benefit, or worsening of Covid-19 symptoms, after using ivermectin. Some have shown some benefits, such as faster time to resolution of symptoms, reduced inflammation, faster viral clearance, and lower death rates.

Ivermectin capsules, seen last year in the Philippines, where the drug was distributed in some places despite a lack of evidence to show it prevents or cures Covid-19.


Photo:

rolex dela pena/Shutterstock

But most of the studies showing positive effects had significant limitations such as small sample sizes or ill-defined results, according to the NIH. Several studies of ivermectin have been withdrawn from publication, including a randomized controlled trial involving 100 patients in Lebanon that was retracted by Virus magazine due to problems with statistical analysis, according to the newspaper. Researchers from the NIH and the University of Oxford are also conducting large trials on the effectiveness of ivermectin, although the results have not been published.

Dr Mills said ivermectin could improve outcomes in Covid-19 patients who are fighting certain parasitic diseases at the same time. But based on his team’s findings, he said, the drug does not appear to have any effect on Covid-19 itself.

Dr Mills and his colleagues are also studying other drugs that could be repurposed to fight Covid-19. Such drugs could be useful because their side effects are well known and they may be cheaper to deploy in poor countries than drugs like molnupiravir from Merck & Co. and Ridgeback Biotherapeutics LP or Pfizer. Inc.

it’s Paxlovid.

New studies offer clues to who might be more susceptible to long Covid, a term for lingering symptoms of Covid-19. WSJ breaks down the science of long Covid and the state of treatment. Illustration: Jacob Reynolds for the Wall Street Journal

Merck said it has taken steps to make molnupiravir available in low- and middle-income countries, including allocating three million courses to distribute through aid groups and licensing generic manufacturers. Pfizer said it was working to expand its supply chain and license production of Paxlovid through a United Nations program.

Dr Mills and his collaborators looked at 11 redirected treatments for Covid-19, at least one of which showed promise: fluvoxamine, which is commonly used to treat obsessive-compulsive disorder and depression. They published the research in the Lancet Global Health in October, showing that Covid-19 patients who received fluvoxamine were less likely to require hospitalization than those who did not.

Researchers are studying the effect in Covid-19 patients of the combination of fluvoxamine and an inhaled steroid, budesonide, as well as a drug called peginterferon lambda, which is used to treat chronic viral hepatitis.

Write to Sarah Toy at sarah.toy@wsj.com

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Toyota overtakes GM as America’s best-selling automaker https://nalburiyedergisi.com/toyota-overtakes-gm-as-americas-best-selling-automaker/ Tue, 04 Jan 2022 23:50:00 +0000 https://nalburiyedergisi.com/toyota-overtakes-gm-as-americas-best-selling-automaker/ The Japanese automaker, which has struggled for decades to expand its presence in the United States, sold approximately 114,000 vehicles to GM in 2021. Toyota’s total sales in the United States of 2 , 3 million, were up about 10% from 2020, the company said on Tuesday. In contrast, GM reported a nearly 13% drop […]]]>


The Japanese automaker, which has struggled for decades to expand its presence in the United States, sold approximately 114,000 vehicles to GM in 2021. Toyota’s total sales in the United States of 2 , 3 million, were up about 10% from 2020, the company said on Tuesday.

In contrast, GM reported a nearly 13% drop in earnings for a total of 2.2 million vehicles sold in 2021, as the semiconductor shortage had a bigger impact on the company’s manufacturing operations. business and left dealerships with fewer vehicles to sell. GM has been the No. 1 car seller in the United States since 1931, according to trade publication Automotive News.

Toyota profited greatly from its decision to stockpile computer chips, which are used in a range of vehicle electronics. It bet earlier than most other automakers on a recovery in the US auto market and cut parts and production orders less sharply than its competitors, better preparing it for a possible increase in consumer demand.

While Toyota executives say they managed to overcome some of the supply chain constraints of the past year, they don’t see the lead over GM as a permanent change in the industry’s closely watched sales rankings. .

“To be clear, that’s not our goal, and we don’t see it as sustainable,” said Jack Hollis, senior vice president of Toyota operations in North America. He added that the company doesn’t expect to use its dethronement from GM last year in its advertising.

A GM spokesperson declined to comment on the company’s sales rankings. He said GM has prioritized its best-selling products – large pickup trucks and sport utility vehicles – and expects sales growth this year as the chip shortage subsides.

Other foreign automakers and electric car maker Tesla Inc.

TSLA -4.18%

It also increased its sales in the United States in 2021, siphoning off market share in Detroit, according to company reports and analyst forecasts.

Hyundai engine Co.

of South Korea, for the second year in a row, recorded significant market share gains, selling 738,081 vehicles in 2021 and increasing sales by about 19% from the previous year, the company said on Tuesday. Mazda engine Corp.

and Honda engine Co.

also recorded above-average sales last year, according to the company’s results.

Need more power? Fancy automated driving? Automakers like Dodge, Polestar, and Jeep are exploring live updates like these as a way to generate new revenue streams and build brand loyalty. George Downs of the WSJ is investigating whether automakers are good at software development. Photographic illustration: George Downs

Research firm Cox Automotive estimates that Tesla’s sales in the United States jumped 61% from the previous year, achieving the biggest percentage gain among automakers. Tesla does not allocate sales to the United States.

Overall, automakers sold just under 15 million vehicles in the United States last year, according to a forecast from research firm JD Power. That total is believed to be up slightly from 2020, when the onset of the Covid-19 pandemic hurt car sales for part of this year. But that’s a steep drop from the 17 million vehicle mark the industry had eclipsed for five consecutive years previously.

Auto stocks rallied on Tuesday after the latest sales results and news that Ford Motor Co.

plans to double the production of its new all-electric truck, after an increase in reservations.

SHARE YOUR THOUGHTS

Did you buy a new car in 2021 or are you planning to buy one in 2022? Why or why not? Join the conversation below.

Ford‘s

the stock closed almost 12% higher on Tuesday. GM shares rose 7.5%, while Toyota’s U.S. certificates of deposit hit a new record high of $ 199.19, up nearly 7% at Tuesday’s close.

Vehicle sales in the United States hit a breakneck pace last spring as American car buyers surfaced, seeking to spend their savings from the pandemic lockdown on new wheels. But in the summer, the chip shortage that had hampered factory hours around the world resulted in near-bare dealer batches, dragging down sales in the second half of 2021.

Forecasters expect another moderate year of vehicle sales, although the chip shortage is expected to gradually ease in the coming months. Auto executives have said it could take a whole year to significantly replenish dealer inventories, which would likely reduce sales despite what dealers say is strong underlying demand.

Edmunds.com expects US sales to reach 15.2 million vehicles in 2022, up slightly from final numbers expected last year. RBC Capital analysts are more bullish, putting the total at around 15.8 million vehicles, with an increase expected later in the year as supply improves.

GM has been among the hardest hit by the chip shortage and other supply chain issues.


Photo:

Mario Tama / Getty Images

Toyota executives said they expected US auto sales to hit around 16.5 million vehicles this year, driven by historically low interest rates, record market performance and higher savings rates that would help support buyers.

High prices are expected to persist, as the seller’s market created by the inventory crisis continues, analysts said. The average price paid for a new vehicle hit a record $ 45,700 in December, up 20% from a year earlier, JD Power estimates.

Record prices for used vehicles are contributing to strong new car prices, JD Power said, as buyers who trade in their old vehicles have more money to work on. The average trade-in vehicle in December was worth about $ 10,200, down from about $ 4,600 a year earlier, the company said.

“Suppressed consumer demand will keep inventory levels near all-time lows,” which will likely lead to more record-breaking prices this year, said Thomas King, president of data and analytics at JD Power.

The uneven disruption of production schedules has blurred the pecking order among automakers in 2021. While chip shortages and other supply chain issues have affected all automakers, GM and Ford have been among the hardest hit, each having scrapped more than 600,000 vehicles planned in North America, according to research firm AutoForecast Solutions LLC.

Stellantis NV, the global automaker that owns Jeep, Ram and other auto brands sold in the United States, has also been disproportionately affected by the chip crisis. It said total US sales of around 1.78 million for 2021, down 2% from the previous year.

Ford plans to release 2021 sales results on Wednesday.

On Tuesday, the Dearborn, Mich., Automaker said it plans to double its manufacturing target for its new electric version of the F-150 pickup truck to 150,000 per year. Ford said the increased production plans reflect strong demand for the model, with around 200,000 reservations placed to purchase one of the trucks.

Other sales winners included Asian and European brands, as well as Tesla, which said on Sunday that global deliveries jumped 87% in 2021, to 936,000 vehicles. Tesla does not break down the sales figures at the regional level. Cox estimated that its market share in the United States fell from 1.4% to 2.2% last year, roughly the same with Mercedes-Benz.

Randy Parker, head of national sales for Hyundai Motor America, said the automaker has taken several steps to address market challenges, including relying more on online sales operations and encouraging dealers to align sales for vehicles that have not yet reached the lot.

He said he expects Hyundai to continue ramping up efforts through 2022, with the aim of building on its recent market share gains.

“I don’t believe in coincidences,” Mr. Parker said. “I think we have adapted extremely well to the crisis. ”

contributed to this article.

How the global flea shortage is affecting you

Write to Mike Colias at Mike.Colias@wsj.com and Christina Rogers at christina.rogers@wsj.com

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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

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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

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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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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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Democrats’ minimum tax unlikely to disappear, so companies are looking to mitigate its impact https://nalburiyedergisi.com/democrats-minimum-tax-unlikely-to-disappear-so-companies-are-looking-to-mitigate-its-impact/ Tue, 07 Dec 2021 17:36:00 +0000 https://nalburiyedergisi.com/democrats-minimum-tax-unlikely-to-disappear-so-companies-are-looking-to-mitigate-its-impact/ WASHINGTON — Congress is set to create a new minimum corporate tax, and pension advocates, renewable energy supporters and manufacturers are pushing for changes before the plan is completed. The tax is aimed at businesses, like Amazon.com Inc., which generate significant profits for shareholders but, legally, pay relatively little tax. It would impose a minimum […]]]>


WASHINGTON — Congress is set to create a new minimum corporate tax, and pension advocates, renewable energy supporters and manufacturers are pushing for changes before the plan is completed.

The tax is aimed at businesses, like Amazon.com Inc.,

which generate significant profits for shareholders but, legally, pay relatively little tax. It would impose a minimum federal tax rate of 15% on many companies making at least $ 1 billion in profits, based on income reported to investors.

Knowing that the minimum tax probably can’t be beaten, companies and trade groups are looking for last-minute wins to loosen it as Congress puts it on Biden’s larger agenda. Business groups are pointing to the unintended consequences of the proposal, which has become a key part of the Democratic plan after Sen. Kyrsten Sinema (D., Arizona) blocked a simple increase in the corporate tax rate.

“There are so many companies and industries saying we need to make changes,” said Catherine Schultz, vice president of tax and tax policy at the Business Roundtable, a trade group representing the leaders of large companies. . “And the only question is, can they start cutting back a bit without creating any problems?” “

So far, most corporate advocacy seems unlikely to be successful. Lawmakers are listening to demands, but many companies want changes that would undermine the revenue generated by the plan, a Democratic Senate aide said. The minimum tax would go into effect in 2023 and generate $ 319 billion over a decade for the Democrats’ social and climate spending plan, according to the Joint Committee on Taxation. That’s the equivalent of raising the corporate tax rate to around 24% from 21%, and Democrats don’t have many other agreed-upon options to replace that much money.

“There are so many companies and industries coming in saying we need to make changes. “


– Catherine Schultz, Vice President of Tax and Fiscal Policy at the Business Roundtable

This 15% minimum tax is separate from a proposed 15% overall minimum tax on foreign profits of U.S. corporations that is included in the same bill. Minimum tax is sometimes referred to as income tax on the books because it begins with the income reported on the books of corporations, calculated according to generally accepted accounting principles. Large corporations would pay regular tax or that tax, whichever is greater. Businesses would be the most affected when they were faced with situations treated differently under tax and accounting rules.

The mechanics can be complicated and companies are looking to determine if they are affected and how they are affected. In many cases, the tax would claw back relief granted by Congress to businesses subject to the normal tax regime. Lawmakers are trying to strike a balance between increasing revenues and encouraging the behaviors they expect from companies.

“It touches on some things that are dear to Democrats’ hearts,” said Dustin Stamper, managing director of accounting firm Grant Thornton LLP.

For many companies, the biggest problem will be the accelerated write-off of capital investments, often tied to well-paying manufacturing jobs. Large initial tax deductions for accelerated depreciation are larger than business expenses for accounting income purposes, so these deductions would be more difficult to claim for minimum tax purposes.

SHARE YOUR THOUGHTS

What will be the impact of a minimum tax of 15% on companies? Join the conversation below.

Either way, the proposed minimum tax could force companies to pay 15% currently, denying or delaying profit from investments companies have made in response to the 2017 tax law.

“It’s making a political choice as to whether or not the United States should be a place where industrial investment thrives or not,” said Chris Netram of the National Association of Manufacturers.

The list of companies involved is not clear and will vary each year; a Tax Foundation analysis found that the coal, automotive and utility industries would face heavier loads.

Chevron Corp.

reported lobbying on the tax. ADT Home Security Company Inc.

disclosed it to investors as a potential risk. ONEOK Pipeline and Natural Gas Company Executives Inc.

and Williams Cos. told analysts they were watching the details.

Since companies could still use many tax credits, including reductions for social housing and renewable energy production, some profitable companies would pay little or no tax in the United States even if the plan enters. in force.

Businesses that buy wireless spectrum or have minority stakes in other companies could also be affected, said Erica York, an economist at the Tax Foundation, which favors simpler and lower taxes.

Chevron has reported lobbying for a proposed minimum corporate tax.


Photo:

Bing Guan / Bloomberg News

“It’s probably no exaggeration to say that almost every business has a unique problem with the tax on books,” she said.

The proposal also raises an issue with pensions because the book income of some companies includes increases in the value of defined benefit plans, even though companies cannot use the money and do not pay taxes on that income. Under minimum tax, it could be taxable, which could discourage some companies from putting more than the minimum required amounts into their plans.

Because pension accounting fluctuates with interest rates, the proposal could introduce volatility, lawmakers say they oppose the pension system, said Lynn Dudley, senior vice president of American Benefits Council.

Sen. Rob Portman (R., Ohio) said logistics and delivery companies have contacted lawmakers about the pension issue and warned that investments and customer service could be affected. The Democratic aide said lawmakers were exploring it.

Beyond its broad effects on manufacturing, accelerated depreciation is also a problem for the renewable energy industry that Democrats are trying to help elsewhere in the bill.

Industry tax credits and direct payments are largely protected from minimum tax. But projects also often rely on upfront deductions for capital investments in their financing plans, and losing that benefit could make it more difficult to meet the Biden Plan’s climate goals, said Gregory Wetstone, president and chief executive officer. the leadership of the American Council on Renewable Energy.

Senate Finance Chairman Ron Wyden (D., Ore.) Championed his committee’s work in expanding and restructuring incentives to encourage sustainable energy.

“I wouldn’t be working around the clock to revise our energy tax code if I thought that imposing a minimum tax on big business would undo all that work,” he said.

Not all businesses are unhappy. Large retailers, who tend not to benefit much from depreciation or other relief, have insisted on this instead of an increase in the tax rate. Others see the plan not as ideal, but better than many Democrats’ preferred alternative.

“Most businesses are thrilled to have this in lieu of a corporate rate hike,” said Mr. Stamper of Grant Thornton.

Lobby for a minimum corporate tax

These articles were selected by the editors.

Write to Richard Rubin at richard.rubin@wsj.com

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


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Mortgage giant Fannie Mae promotes comptroller to chief financial officer https://nalburiyedergisi.com/mortgage-giant-fannie-mae-promotes-comptroller-to-chief-financial-officer/ Thu, 02 Dec 2021 00:01:00 +0000 https://nalburiyedergisi.com/mortgage-giant-fannie-mae-promotes-comptroller-to-chief-financial-officer/ Chryssa Halley’s appointment as Fannie Mae’s chief financial officer came into effect on Monday, the government-sponsored company said in a press release. Photo: Fannie mae Fannie Mae, the government-sponsored company that guarantees mortgage loans, has promoted Chryssa Halley from controller to chief financial officer. Newsletter Sign-Up WSJ | Journal of the CFO The Morning Ledger […]]]>


Chryssa Halley’s appointment as Fannie Mae’s chief financial officer came into effect on Monday, the government-sponsored company said in a press release.


Photo:

Fannie mae

Fannie Mae, the government-sponsored company that guarantees mortgage loans, has promoted Chryssa Halley from controller to chief financial officer.

Ms Halley’s appointment took effect Monday, Fannie Mae said in a press release on Wednesday. She joined the government-sponsored company in 2006 and has held a number of management positions there since.

Ms Halley succeeds Celeste Brown, who left in May after about three years as CFO of Fannie Mae to become CFO of New York-based financial firm Evercore Inc. David Benson, chairman of Fannie Mae, served as chief financial officer of New York-based financial firm Evercore Inc. Acting CFO position prior to Ms. Halley’s appointment.

“Chryssa is an inspiring leader with extensive knowledge of Fannie Mae’s financial operations gained over many years,” said Hugh Frater, Managing Director of Fannie Mae, in a press release.

Fannie Mae declined to make Ms Halley available for an interview.

Jim Holmberg succeeded Ms Halley as Controller. He joined Fannie Mae in 2009 and served as Vice President of Financial Accounting.

Write to Kristin Broughton at Kristin.Broughton@wsj.com

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


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