United States:
U.S. Jobless Claims Decline for Second Week as Omicron Eases
“Applications for U.S. state unemployment insurance fell for a second week, partially unwinding a recent spike in claims as the omicron wave recedes. Initial unemployment claims decreased by 23,000 to 238,000 in the week ended Jan. 29, Labor Department data showed Thursday. The median estimate called for 245,000 applications in a Bloomberg survey of economists.”
Europe:
BOE Hikes Rates as Four Officials Vote for a Bigger Increase
“The Bank of England increased its key interest rate in a bid to contain the fastest inflation in three decades, with some policy makers unexpectedly seeking a more aggressive response to rising prices. The Monetary Policy Committee voted to raise borrowing costs by 25 basis points to 0.5% on Thursday. Four out of the nine-member panel pushed for a 50 basis-point increase, which would have been unprecedented since the central bank gained independence from government in 1997.”
Asia:
Buffett Strikes Gold as Japan Trading Houses See Record Profits
“Warren Buffett’s surprise bet on Japan’s trading houses is paying off as the companies expect a record-breaking rebound in profits. The trading companies, known as “sogo shosha” in Japan, boosted their net income outlook after the rebound in prices of everything from crude oil to iron ore. Buffett shocked the world in 2020 when Berkshire Hathaway Inc. announced that it bought stakes in five of Japan’s biggest trading companies, which at the time were grappling with declining profits as the Covid-19 pandemic reduced demand for fuel and raw materials.”
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