Home Dating apps EMEA Morning Briefing: Stocks drop like news -2-

EMEA Morning Briefing: Stocks drop like news -2-

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Not for the first time this year, analysts are optimistic that supply shortages are easing and will be corrected within three to six months. There is reason to be skeptical of this figure, even without encouraging a tightening of monetary policy.

Delivery times for companies ordering supplies have stopped growing, according to surveys of purchasing managers in the United States and Europe released this week. Global shipping rates appear to have peaked and Asian factories are reopening. Some retailers say they are already well stocked before the Christmas season.

   
 
 

Turks Ditch Lira For Dollars As Currency Crisis Worsens

ISTANBUL- A currency crisis here is undermining Turks’ confidence in their government’s ability to manage the economy, causing crowds of people to buy US dollars and sending crowds of people to the streets to oppose the policy of President Recep Tayyip Erdogan.

Riot police lined the streets in parts of Istanbul as the country braced for a third night of dispersed protests over Mr Erdogan’s inability to stop a steep fall in the Turkish lira. The depreciation of the pound undermined nearly two decades of economic gains that had made Turks feel they were stepping into the world’s club of the best economies.

   
 
 

South Africa sounds the alarm on a new variant of the coronavirus

JOHANNESBURG-The South African government is considering new public health restrictions to contain a new, rapidly spreading variant of the coronavirus which scientists say has a high number of mutations that could make it more transmissible and allow it to escape certain immune responses elicited by previous infection or vaccination.

The warning from South African scientists and the health ministry, released Thursday at a hastily called press briefing, prompted the World Health Organization to convene an expert meeting on Friday to discuss the opportunity to declare the new strain a “variant of concern”.

   
 
 

Micron and UMC reach settlement in IP theft case

US memory chip maker Micron Technology Inc. and United Microelectronics Corp. of Taiwan reached a comprehensive settlement over the Micron intellectual property theft allegations.

UMC will make a one-time payment in an undisclosed amount to Micron, according to a joint statement from the two companies.

   
 
 

Fantasia Says Liquidation Petition Filed Against Key Affiliate

Fantasia Holdings Group Co. said a liquidation petition has been filed against one of its major subsidiaries, exacerbating the Chinese real estate developer’s financial problems.

The petition concerns loans for which the subsidiary Fantasia Investment Holdings Co. was the guarantor, the real estate developer said.

   
 
 

Tech Antitrust Bills Gain Biparty Momentum in Senate

WASHINGTON-Support for shrinking market power for big tech companies widens in Senate, with lawmakers on both sides approving new legal restraints on search engines, electronic marketplaces, app stores and more online platforms.

Lawmakers say they are responding to public concerns about the size and influence of tech companies.

   
 
 

Drugmakers brace for price cuts in Biden’s legislative agenda

The pharmaceutical industry is gearing up for the largest expansion in government drug price regulation in decades, despite success in watering down proposals by Congressional Democrats that would have gone much further.

The House last week approved a roughly $ 2 trillion social spending and climate bill backed by President Biden, which requires the government to negotiate the prices of some older and expensive drugs covered by Medicare. . The bill also caps annual drug price increases at the rate of inflation. The measures cut federal drug spending and industry revenues by $ 128 billion over 10 years, according to the Congressional Budget Office.

   
 
 

Uber CFO Focuses On Revenue Growth After Reaching Profitability Milestone

The chief financial officer of Uber Technologies Inc. said the rideshare and delivery company is focused on increasing its revenue and revenue after reaching a major profitability milestone in its final quarter.

San Francisco-based Uber said in early November it reported adjusted earnings before interest, taxes, depreciation and amortization of $ 8 million for the quarter ended September 30. this move, aided by the resumption of its transportation business and the continued strength of its food delivery unit, Uber Eats.

   
 
 

Bumble investors should be more thankful

Bumble Inc. may never have the big appeal of dating giant Match Group, Inc., but it looks more adorable. Since its IPO in February, its share price has fallen 54% from its opening level on the first day of listing. In the past three months alone, it has fallen 36%, while Match’s stock price has fallen by less than 2%.

Bumble was founded to transform dating, empowering women to take the first step in trying to curb aggressive or unwanted advances from men online. The “awakened” message initially resonated with investors, but, including Badoo’s less publicized, Bumble only has two dating apps compared to Match’s 10-plus brands. A survey conducted earlier this year by Evercore ISI found that, among men and women using both apps, a significantly higher percentage of both groups were more satisfied with Tinder.

   
 
 

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Major events expected for Friday

00:01 / UK: Monthly auto manufacturing figures for October in UK

07h00 / GER: Oct. Foreign trade price indices

07: 00 / NOR: Oct Retail sales

7:45 a.m. / FRA: Consumer confidence survey in November

8:00 a.m. / SWE: Consumer trends survey in November

8:00 a.m. / SWE: Monthly business trends survey in November

08h00 / SVK: Oct. PPI

08h00 / SWI: PIB 3T

8:30 am / SWE: Oct Retail sales

09: 00 / AUT: Nov Austria Manufacturing PMI

09h00 / EU: Oct Monetary developments in the euro zone (M3)

9 a.m. / ITA: Survey on consumer confidence in November

9 a.m. / ITA: Survey on business confidence in November

10: 00 / CRO: Flash estimate of 3Q of GDP

10:00 am / CRO: PIB 3T

15: 59 / UKR: Oct. Industrial production

Every hour in GMT. Powered by Kantar Media and Dow Jones.

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This article is a text version of a Wall Street Journal newsletter published earlier today.

 

(END) Dow Jones Newswires

November 26, 2021 00:30 ET (05:30 GMT)

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