In other words, the Covid-19 pandemic won’t have an end date. Rather, a crisis that engulfed the world within months of the coronavirus’s discovery in China will dissipate in fits and starts into something that feels more like normal over the course of years, infectious-disease experts say.
Consumer Spending Likely Slowed in November
Consumer-spending growth likely cooled in November, economists say, and risks are now mounting for the broader economy to slow amid the latest wave of Covid-19 cases.
Economists surveyed by The Wall Street Journal estimate that U.S. consumer spending rose by 0.6% in November from a month earlier, after climbing 1.3% in October.
M&A Likely to Remain Strong in 2022 as Covid-19 Looms Over Business Plans
Companies are gearing up for another banner year for deal making.
Mergers and acquisitions hit a record in 2021, fueled by low interest rates, a surge in private-equity fundraising and companies’ efforts to respond to broader shifts in their industries. The total value of global M&A transactions through Dec. 21 was $5.7 trillion, up 64% from the same period a year before, according to Refinitiv, a data provider. The total number of deals, meanwhile, rose 22% during that period, to 59,748, Refinitiv said.
Air Cargo Also Disrupts Supply Chain as Goods Spill Out of Warehouses
Cargo flights provided a solution this year for producers of consumer electronics, machine parts and toys that struggled to move goods along rails and through ports. Then the airports got clogged.
Labor shortages at air-cargo hubs like Chicago O’Hare International Airport during the fall have disrupted operations for the ground-handling companies that unload planes, and left goods piling up. Airlines, handlers and freight companies said they are working to speed up loading and security checks, tapping warehouse robots and trained sniffer dogs.
ETFs Claim More of Muni Market
Municipal bond investors are piling into exchange-traded funds, attracted by low costs and the ability to trade quickly.
Muni ETFs held $80 billion as of the end of the third quarter, up from less than $50 billion two years ago, Federal Reserve data shows. Citigroup projects they will hold $125 billion by December 2022.
Biden Says He Is More Likely to Run in 2024 if Trump Is His Opponent
WASHINGTON-President Biden said he is eager to run for reelection against Donald Trump in 2024 and expressed regret that he didn’t act more quickly to purchase at-home Covid-19 tests to distribute to the public.
In an interview with ABC News that aired on Wednesday night, Mr. Biden, 79, said he planned to run for reelection if he remains healthy. "If I’m in the health I’m in now-if I’m in good health-then, in fact, I would run again," he said.
Hong Kong University Pulls Down Monument to Tiananmen Massacre Victims
HONG KONG-The governing body of the city’s oldest university ordered the removal of a statue commemorating the victims of the Tiananmen Square massacre, felling one of the most prominent monuments to the incident on Chinese soil.
The Council of the University of Hong Kong said in a Thursday statement that it made the decision "based on external legal advice and risk assessment for the best interest of the university." It said that no party had ever obtained approval from the university to display the statue on campus.
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(END) Dow Jones Newswires
December 23, 2021 05:58 ET (10:58 GMT)
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