President Biden and the US government are ready to push for big changes.
The eurozone’s recovery from its pandemic-induced economic downturn was much stronger than expected in April as the service industry adapted to lockdowns and made a surprise return to growth, a survey showed. With the continent facing a fresh wave of coronavirus infections, governments have reimposed strict curbs to contain the spread, forcing some businesses to close and encouraging citizens to stay home.
U.S. President Joe Biden wants to put “real money” toward helping laid-off workers get new jobs in growth industries like green energy and healthcare as part of his $2.3 trillion jobs and infrastructure package, a top economic adviser said. Biden is attempting a delicate balancing act as he calls for a reshaping of the nation’s energy industry by reducing reliance on fossil fuels and coal-powered electric plants to meet aggressive climate emission goals.
British retail sales jumped last month before a partial lifting of coronavirus restrictions, suggesting an economic rebound is underway, but official data also showed record peacetime government borrowing. Sales volumes leapt by 5.4% in March from February with clothing retailers able to sell online benefiting especially as consumers got ready to venture out after being locked down for much of the past year.
OPEC is encouraging its members to engage with the U.S. administration over a proposed U.S. bill against the group, known as NOPEC, and to explain that passing the bill could put at risk U.S. interests abroad. A U.S. House panel passed a bill this week to open the Organization of the Petroleum Exporting Countries to lawsuits for collusion in boosting oil prices but it is uncertain whether the full chamber will consider the legislation.
Japan’s factory output likely fell for a second straight month in March, but retail sales were set for a solid rebound from the prior month’s decline. The mixed batch of indicators will follow a government move to issue a third state of emergency in Tokyo and other major regions for April 25 to May 11 in a blow to service-sector activity, stoking fears of a double-dip recession.
Johnson & Johnson
|After a number of countries including France and the US have stopped using their vaccine. Advisers to the US Centers for Disease Control and Prevention will meet again on Friday to consider whether it is safe to resume injections of Johnson & Johnson’s COVID-19 vaccine, as senior U.S. health officials prepare for a green light.|
|Apple is set to report its second-quarter fiscal 2021 earnings on April 28.|
|3M is set to report its highly-anticipated first-quarter fiscal 2021 earnings on April 27|