Omicron Could Knock a Fragile Economic Recovery Off Track
The New York Times
The latest zigzag in the pandemic has already curtailed travel, but its broader impact on growth and inflation isn’t likely to be known for several weeks.
LONDON — This week, Marisha Wallace finally had to admit that her planned five-day ski holiday in Switzerland in mid-December was not salvageable: The Swiss government’s sudden decision to impose a 10-day quarantine on some international travelers meant she wouldn’t be able to leave her hotel or return home to London on her scheduled flight.
“It’s the way of the world right now,” said Ms. Wallace, an actress and a singer. “You can’t plan anymore.”
That provisional state, amplified across the world, has left the still-fragile economy in a state of suspense as spiking coronavirus infections and the new variant Omicron have popped up around the globe.
With the court signaling it will release a decision on Friday, lobbyists for the app pushed lawmakers to shift course.
Evacuating a disaster is often the lifesaving choice, but it comes with short-term costs to address immediate needs and incalculable personal and financial tolls in the future.
The nonalcoholic beverage industry could get a boost from the surgeon general’s warnings linking alcohol to some cancers. But don’t expect the industry to condemn your glass of pinot.
Vivek Ramaswamy, Elon Musk’s partner in an effort to cut government costs, could make decisions that ultimately make him and his investors richer.
The largest banks, including JPMorgan Chase, Wells Fargo and Goldman Sachs, reported bumper profits on Wednesday.
The ongoing disaster will affect residents’ health, local industries, public budgets and the cost of housing for years to come.
Because of costs, few movies are shot locally, leaving the industry in a surreal spot: reeling from personal loss with much of the business untouched.
The once high-flying platform for secondhand clothes was bought by a huge South Korean tech company. Can tech fixes make peer-to-peer selling seamless?
Economists have long helped to shape policy on issues like taxes and health care. But flawed forecasts and arcane language have cost them credibility.
Employers added 256,000 jobs in December, a better-than-expected showing after some turbulent months. The unemployment rate ticked down to 4.1 percent.
Hiring has slowed, but joblessness remains at levels defying economic norms. Big policy changes under a new administration could test that resilience.
Dockworkers and employers on the East and Gulf Coasts had until Jan. 15 to reach a new agreement that settled differences over automation.
Mr. Musk has fallen out with prominent right-wing Americans who say they are worried that their agenda may be sidelined in favor of his own — and that he is willing to silence them on X.
It is a sharp pivot away from the cautious approach of the traditional corporate treasury, normally charged with safeguarding cash rather than chasing higher returns.
Fleeing fraud charges, Samuele Landi evaded extradition treaties, dabbled in crypto, procured diplomatic credentials and took advantage of all the offshore world has to offer.
The companies argue in a lawsuit that the process of reviewing the transaction was corrupted by politics.
After overcoming pariah status at the end of the last century, South Korea must learn what caused the catastrophe on Dec. 29 and what lessons to draw from it.
South Korea’s leading low-cost carrier, heavy with debt and its stock already near record lows, is now facing intense public and government scrutiny.