Richard Galanti, Chief Financial Executive of Costco, told participants on an earnings call on Sept. 23 that the company was facing supply chain issues and inflationary pressures.
Author archives: The Epoch Times
Elon Musk Expects Chip Shortage to Be Short-Lived as Production Capacity Expands
Musk’s remarks follow comments made earlier in the week by General Motors President Mark Reuss, who said he expects the global supply of chips to stabilize but at lower levels than automakers need to rebuild their inventories.
Chip Shortage to Cost Automakers $210 Billion in Sales: Analysis
The forecast, released Sept. 23, estimates that the shortage will cost the auto industry $210 billion globally in lost revenue in 2021.
Jobless Claims Rise Above Expectation to Highest Level in a Month
First-time filings for unemployment insurance-a proxy for layoffs-came in at 351,000 for the week ending Sept. 18, a rise of 16,000 from the previous week’s revised level of 335,000.
Economist Nouriel Roubini Warns of Growing Risk of Stagflationary Crisis
‘The rosy scenario that is currently priced into financial markets may turn out to be a pipe dream,’ Roubini says.
More Than 30 Companies, Including Amazon, Facebook and Pfizer Vow to Create Economic Opportunities for Afghan Refugees
The 34 companies have joined the Tent Coalition for Afghan Refugees, which aims to integrate Afghan refugees into the United States.
Consumer Sentiment Edges Up but Inflation Fears Send Buying Attitudes to 40-year Low
University of Michigan’s consumer sentiment index edged up to a reading of 71 in September, a slight uptick from August’s 70.3, which was the lowest level since 2011.
Homebuilder Confidence Edges Up After Recent Plunge to 13-Month Low
Homebuilder confidence inched up in September after falling to its lowest reading in 13 months in August.
Be. Do. Go.
Dreams are built of firmer things than feelings and passing passion.
Sears Announces It’s Shutting Last Store in Home State of Illinois
The store, located in Woodfield Mall, is scheduled to shut its doors on Nov. 14.