The banking lobby, plane maker Boeing and shipping giant UPS are among the companies or organizations that have resumed political contributions to members of Congress who objected to the 2020 election results, according to a new report.
ANKARA — Turkey’s year-on-year inflation rate jumped to 36% according to December’s consumer price index (CPI), released Monday. That's the highest rate since 2002.
The big picture: President Recep Tayyip Erdoğan has continued to push for cuts to interest rates amid soaring inflation, arguing it will strengthen Turkey's exports and the construction sector. But that unorthodox approach has seen prices fluctuate wildly and the purchasing power of working class Turks decrease significantly.
Bridgewater Associates CEO David McCormick stepped down from his post to consider joining the Republican primary for an open U.S. Senate seat in Pennsylvania, the world's largest hedge fund announced Monday.
Why it matters: The race to replace Sen. Pat Toomey (R-Pa.), who is retiring at the end of his term, is expected to be one of the most competitive in the country and could determine control of the Senate.
Terra Firma is seeking a buyer for British residential property owner Annington Homes, at an asking price north of £9 billion (including assumed debt), per Sky News.
Why it matters: Annington is one of the U.K.'s largest private landlords. Most of its 40,000 homes are occupied by British military personnel, per a 200-year agreement with the Ministry of Defense.
Novo Holdings has won the auction for Medical Knowledge Group, which provides marketing services to drug companies, at a $1.15 billion enterprise value, four sources tell Axios.
Why it matters: Drug therapies being developed today are increasingly aimed at smaller patient populations, which can complicate commercialization. If you have a true data analytics business like MKG, or a tech-enabled strategy, investors have no problem paying a premium.
Tesla reported freshquarterly and full-year delivery records, underscoring how it's weathering the chip shortage hobbling the auto industry and signaling wider momentum for electric cars.
Driving the news: Tesla said Sunday that it delivered 308,600 cars worldwide in the fourth quarter and 936,172for all of 2021, beating analysts' estimates.
Companies in the heart of the U.S. oil patch plan to keep boosting production this year despite rising costs.
Driving the news: The Dallas Fed's fourth-quarter 2021 survey of oil-and-gas execs finds that "costs rose sharply for a third straight quarter." However, most expect to keep boosting output as prices and demand have recovered from the pandemic.
The Biden administration will offer $1 billion to help independent meat and poultry producers in its latest measure to fight inflation, the White House announced Monday.
Driving the news: The Biden administration has argued that large corporations and corporate monopolies are responsible for rapidly rising prices. It specifically blames four monopolists in the meat-processing industry for increasing meat prices.
Monopolies cause inflation — so cracking down on monopolies will cause inflation to decline. That's the claim of the Biden administration, anyway.
Why it matters: It's very hard to find good-faith arguments on any side of this debate. But one thing is clear: The U.S. government is currently being broadly blamed for rapidly rising prices. If inflation does decline, for any reason, then it will surely claim credit.
New York City's charismatic new mayor, Eric Adams, was sworn in just after midnight on New Year's Day, promising to bring a fresh set of eyes to a thankless job in a crime-ridden and COVID-weary town.
Why it matters: New York's urban problems — always a national bellwether — have spiraled during the pandemic. This tough-on-crime mayor, a longtime NYC police captain, vows to clean things up but has his hands full.
Car dealers' annual year-end sell-a-thons have turned into wait-a-thons for many shoppers unable to find the vehicle they want on dealer lots — but that could be about to change as some companies modernize the way they sell their cars.
Why it matters: Supply chain disruptions could have a silver lining for automakers if Americans can be trained to order the exact car they want — color, features, bells and whistles — and then wait a month or so for it to be delivered.
