EUROPEAN MIDI BRIEFING – Comments from the CEO of Moderna -2-

In its first quarterly report since listing on Nasdaq Stockholm, Volvo Cars said third quarter production was around 50,000 cars lower than the previous year, while preliminary figures for November show sales volumes. around 52,000 cars, down from the year due to production and stock building in transit.


SAS fourth quarter net loss narrowed as demand continued to rise

Scandinavian airline SAS AB said on Tuesday its net fourth quarter tax loss narrowed as customer demand and ticket sales continued to rise, but warned that uncertainties over the course of the pandemic of Covid-19 remained.

For the quarter ended Oct. 31, the carrier posted a net loss of SEK 744 million ($ 81.7 million) from a loss of SEK 2.57 billion a year earlier, as revenue rose 90% to reach SEK 5.76 billion.


Schneider Electric sets targets for 2022-24

Schneider Electric SE set targets for the 2022-24 period on Tuesday before the start of its capital markets day.

The French energy management and automation specialist said it is aiming for organic growth of 5% to 8% of its revenue on average over the period, and that it expects to free cash flow of approximately € 4 billion ($ 4.52 billion) by 2024.


Inditex names founder’s daughter as president

Industria de Diseno Textil SA announced on Tuesday that Marta Ortega Perez, the daughter of the founder of the Spanish fashion group, will become its president.

Ms Ortega will succeed Pablo Isla Alvarez, executive chairman since 2011, who will step down as of March 31, 2022, the company said. Ms Ortega’s father, Amancio Ortega, founded the A Coruña-based company, which owns fashion brands such as Zara and Pull & Bear.


US and allies assess response to build-up of Russian military around Ukraine

RIGA, Latvia-NATO foreign ministers meet here on Tuesday to calibrate a response to Russia’s military build-up around Ukraine, seeking to deter the Kremlin from any potential assault while clarifying the limits of its support .

Concern over Russian build-up has increased in recent weeks. The United States has informed its allies that Moscow may launch a new military operation in Ukraine, after its capture of Crimea and the covert invasion of its neighbor’s east in 2014. Russia, which wants to bring back the old republic Soviet in its orbit, says it has no plans to invade and can move troops as it pleases on its sovereign territory.


Iran doubles down on demands as nuclear talks resume

VIENNA-Iran has made numerous demands as it resumed talks with the United States and other world powers to salvage the 2015 nuclear deal on Monday, doubling down on its stance before negotiations begin in the spring and putting it high. doubts about a rapid breakthrough.

The talks, which are taking place in the Austrian capital amid a strict coronavirus lockdown, aim to agree steps Iran and the United States will take to comply with the 2015 agreement, which lifted most international sanctions against Tehran in exchange for strict but temporary sanctions. restrictions on Iran’s nuclear work.


Omicron variant leads to increase in hospitalizations for Covid-19 in South Africa hot spot

JOHANNESBURG-The emergence of the Omicron variant of the coronavirus in South Africa has led to a sharp increase in hospitalizations for Covid-19 in the country’s hot-spot province over the past two weeks, although fewer patients are being treated for more serious illness than in previous outbreaks, the country’s National Communicable Disease Institute said.

There have also been an unusually high number of hospitalizations of children under 2 around the capital, Pretoria, where cases have started to increase first, although some of these may be precautionary measures , indicated the institute.


Turkish lira crisis reveals dependence on imported energy

Turkey’s currency crisis has exposed a key weakness in its economy: an almost total reliance on imported energy to keep households warm and the buzz of factories.

Turkey is surrounded by some of the richest fossil fuel reserves in the world, in the Middle East and Central Asia, but itself produces little oil, gas or coal. The country imports 93% of the oil and 99% of the gas it consumes, a vulnerability when energy prices in dollars rise and the lira tumbles.



Covid-19 Omicron variant threatens US and global economies

The global economy could take a modest blow from the Omicron variant of Covid-19, although the extent of the damage depends on the potency of the strain itself, economists say.

Tourism spending is likely to weaken, as will food and beverage outlets and shopping in stores. But compared to the initial wave of Covid-19 in March 2020 and the Delta variant this summer, Omicron’s threat to economies will likely be less severe, economists say, in part because each new strain of the virus has had a reduced economic impact.


Gas prices put pressure on drivers’ finances

Rachel Gould spends $ 50 on gas to take her two children with special needs on the three-hour trip from her home in central Illinois to a hospital in St. Louis. This is an increase of about 60% over the same period last year.

“You have to have gas and pay for it anyway,” said Ms. Gould, who drives a Dodge Caravan that travels 23 miles per gallon.


US power plants run out of coal

A lump of coal would be a welcome gift for many American utilities.

Power plant coal stacks have fallen to their lowest level since the 1970s, and the rush to build up stocks before the heating season has pushed domestic thermal coal prices to their highest levels in addition to a decade.


New Omicron Variant Worsens Inflation Uncertainty, Says Powell

The new variant of the Omicron coronavirus risks intensifying the supply chain disruptions that have fueled a spike in inflation this year, Federal Reserve Chairman Jerome Powell said in testimony released Monday afternoon .

Mr Powell is due to appear before the Senate Banking Committee alongside Treasury Secretary Janet Yellen on Tuesday morning.


China’s manufacturing gauge shows rebound in November

BEIJING-An official indicator of China’s manufacturing industry unexpectedly rebounded towards expansion in November, ending a two-month contraction resulting from an electricity crisis.

The official index of manufacturing purchasing managers rose to 50.1 in November from 49.2 in October, the National Bureau of Statistics announced on Tuesday.


FDA to approve Pfizer-BioNTech Booster for 16-17 year olds

Food and Drug Administration may clear Covid-19 boosters from Pfizer Inc. and BioNTech SE for use in 16 and 17 year olds as early as next week as concerns arise over new, possibly more transmissible variant , according to someone familiar with the planning.

The agency plans to act quickly to respond to a request from companies to authorize recalls for 16-17 year olds, according to a person familiar with the matter. So far, only people 18 years of age and older are eligible for recalls.


Omicron broke into Australia after strict border rules eased

Two days before Australia tightened border controls in response to the new Omicron variant of Covid-19, a woman arrived in Sydney on a stopover flight from southern Africa and visited several stores before ascending the side.

Health officials in New South Wales, the country’s most populous state, said the woman was infected with the Omicron variant of Covid-19. They are now rushing to map his movements and identify contacts in order to prevent the virus from spreading in the community.


Pentagon to investigate 2019 air strike in Syria that killed women and children

WASHINGTON-Defense Secretary Lloyd Austin ordered an investigation into a 2019 U.S. strike in Syria that killed dozens of people, including women and children, but it was only publicly acknowledged by the military that this year, the Defense Ministry said on Monday.

General Michael X. Garrett, who is in charge of the armed forces command, will lead the investigation and examine the number of civilians killed, whether the United States obeyed the laws of war in launching the attack, how the military records such events, and whether anyone should be held responsible for these deaths, Pentagon spokesman John Kirby said.


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


(END) Dow Jones Newswires

November 30, 2021 06:18 ET (11:18 GMT)

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