What’s up? (February 20-26)
Market caught red-handed
Russia’s All-Out Invasion of Ukraine Global market Against the backdrop of uncertainty about the potential impact of conflict on inflation, the activities of Multinational corporations, energy prices and the flow of energy to Europe. In recent years, Europe has received nearly 40% of its gas and more than a quarter of its oil come from Russia. In addition, Ukraine and Russia jointly produce almost a quarter of the world’s wheatand Russia is the main supplier of other major commodities. The fallout from the conflict is likely to continue to push up inflation. That creates an economic option for the Federal Reserve and plans to start raising interest rates in March. Withdrawing support for the economy could help reduce inflation, but it could also hurt economic growth if consumers reduce spending. Several Fed officials have signaled that they are unlikely to change course.
Back to the Office, Four people
After Omicron delayed the latest round of back-office plans last year, companies are working on it another attempt to set the date back – actually, this time (they hope). Office occupancy rates across the country are on the rise after a January drop: Across 10 major cities earlier this month, the average was 31% of pre-Covid levels, up from 23% at the beginning of January, according to the company. security company Kastle Systems. . As more workers return to the office, the coronavirus protocols they encounter there will vary depending on their employer. Last week, Google announced that it was easing some of its restrictions, including requiring employees to be screened weekly to enter US offices and that employees must wear masks in most offices. company room. Time surveyed the top 500 companies about their vaccine policies, and of the more than 100 people who responded to or made their plans public, 75 said they would request injections for some employees. Some also said they would require booster vaccinations or would require vaccinations for some workers but not others.
American football agrees to equal pay for women
ONE six years war between US Soccer and members of the women’s national team ended on Tuesday with a payout of $24 million and the organization’s commitment to equalize pay between the women’s and men’s teams in all competitions. Solve to two years after a federal judge rejected the players’ equal pay arguments. Most of the multi-billion dollar payments will go to a pool of several dozen current and former players as paybacks. Committed to a future salary balance depends on the ratification of a new contract with the players’ federation – and for the deal to work, men’s players will have to agree to a share of millions of dollars in World Cup payments. potential.
What’s next? (February 27 – March 5)
Financial penalties for Russia
Governments have responded to Russia’s invasion of Ukraine with punitive sanctions. Russia’s main development bank and its military bank have been cut off from much of the financial system, making it more difficult to raise money in Russia’s foreign markets. Both the United States and the European Union also cut technology exports to Russia, which may affect the ability to upgrade aircraft, electronic equipment and ships. There are two measures that are not included in the global sanctions: block Russia from SWIFTa Belgian service that connects more than 11,000 financial institutions as they move money around the world and intervenes in the country’s energy exports. Lock Russia from SWIFT could make it more difficult for countries in Europe to buy energy from the country. Suffocating Russian energy business could push global energy prices even higher and hurt Europe as much as Russia.
Number of new jobs
New data released by the Labor Department on Friday will show whether the jobs market continues its strong February recovery after Better-than-expected growth in January. The January report was seen by economists as a good sign that the economic recovery is resilient to disruptions caused by Omicrons. February data collected under different pandemic conditions: New coronavirus cases have down more than 80% from mid-January peak.
Proposing accountability for supply chains
Legislation proposed on Wednesday would require large companies operating within the European Union to establish regulations to detect, prevent and reduce human rights violations and environmental hazards in their supply chains. If the proposal goes through – a process that can take a year or more – victims can sue the companies that violate it in the EU countries’ domestic courts, even if the damage occurs elsewhere. . Global Witness’s Richard Gardiner said the legislation has the potential to become “a pivotal moment for human rights and the climate crisis,” while Pierre Gattaz, president of trade organization BusinessEurope, said, “It’s true. It is unrealistic to expect that European companies can control their entire value chains worldwide. ”
Russia’s Attack on Ukraine and the Global Economy
An increased concern. Russia’s attack on Ukraine could cause Energy prices skyrocketed and food and can wow investors. The economic damage from supply disruptions and economic sanctions will be severe in some countries and industries and go unnoticed in others.
The Winter Olympics attracted The smallest television viewership on record. Volkswagen is considering the plan launched Porsche in a public offering. And the Internal Revenue Service said Monday that it will allow taxpayers to opt out of facial recognition technology to gain access to their online accounts.
https://www.nytimes.com/2022/02/27/business/the-week-in-business.html Business Week: With Ukraine Invasion, Market Volatility