Stocks rise in trade after muted holiday
NEW YORK (AP) – Shares rise in muted trading on Wall Street as traders return from the Christmas holidays. The S&P 500 rose 1.1% in afternoon trading, led by more gains at big tech companies like Apple and Nvidia. The benchmark index broke its last record. European markets were also predominantly higher, but the London market was closed for a holiday. In Asia, the Hong Kong market was also closed and the Japanese market ended slightly lower. Crude oil prices rose more than 2% and the 10-year Treasury bill yield edged down to 1.48%.
Flight cancellations continue due to bad weather, sick crews
NEW YORK (AP) – Flight cancellations that disrupted vacation travel extended through Monday, with major U.S. airlines each canceling dozens of flights. Staff calling sick from COVID-19 have left airlines short in recent days. According to FlightAware, which tracks flight cancellations, airlines have canceled about 4,000 flights to, from or within the United States since Friday. Delta, United, JetBlue and American have all said the omicron variant is causing staff issues, and European and Australian airlines have also canceled holiday season flights because staff were sick with COVID, but others factors such as the weather also played a role.
VIRUS OUTBREAK – NEW YORK
NYC Vaccination Mandate Comes into Force
NEW YORK (AP) – New York City’s comprehensive mandate requiring nearly all private sector companies to ban unvaccinated employees from the workplace has come into effect amid an outbreak of coronavirus infections. Workers at around 184,000 companies had to prove that they had received at least one dose of a COVID-19 vaccine by Monday. Businesses that do not comply could face fines starting from $ 1,000. But Mayor Bill de Blasio said imposing sanctions would be a last resort. Employers should check and keep track of each worker’s proof of vaccination against COVID-19. Workers who have only received one injection will need to get a second within 45 days.
HYUNDAI ENGINE INQUIRIES
U.S. Steps Up Investigation into Hyundai-Kia Engine Failures and Fires
DETROIT (AP) – U.S. auto safety regulators have stepped up a series of investigations into several engine fires that have plagued Hyundai and Kia vehicles for more than six years. The National Highway Traffic Safety Administration says a new technical analysis investigation covers more than 3 million vehicles from the 2011 to 2016 model years. The agency has 161 complaints of engine fires, some of which have occurred in vehicles. that have already been recalled. Engine failures and fires hit Korean automakers’ vehicles in September 2015 when they issued an engine failure recall. Since then, it has issued at least eight more recalls for a host of engine issues, according to NHTSA documents posted on its website on Monday.
Iran puts pressure on oil exports as nuclear talks resume
VIENNA (AP) – Iranian negotiators and five world powers have resumed negotiations on reinstating Tehran’s tattered 2015 nuclear deal, with Iran insisting the United States and its allies pledge to allow it to export its crude oil. The latest round of talks in Vienna opened on Monday, 10 days after negotiations adjourned for the Iranian negotiator to return home for consultations. The previous cycle was marked by tensions over new Iranian demands. The United States has only participated indirectly in this year’s talks to restore the deal, which President Joe Biden has said he wants to join after his predecessor’s withdrawal in 2018.
Polish President veto media bill targeting US company
WARSAW, Poland (AP) – The Polish president has said he has decided to veto a media bill that would have forced US company Discovery to give up its majority share of Polish television network TVN. President Andrzej Duda noted that the bill was unpopular with many Poles and would have damaged Poland’s reputation as a place of commerce. Many Poles saw the bill as an attempt to silence a broadcaster that broadcasts independent and often critical reports of the authorities. The bill was pushed by the ruling Law and Justice party with which Duda is aligned. There have been recent nationwide mass protests in support of the station and freedom of expression in general.
Outlets affected by declining public interest in news in 2021
NEW YORK (AP) – The measurements are ugly for many TV, digital and print news organizations. After record engagement figures in 2020, many people are reducing their information consumption. To a large extent, this was predictable with the presidential election, the pandemic, and racial calculus making headlines the year before. Cable news and digital sites, in particular, face a dramatic drop in interest in political news after being a major draw in 2020. Local newspapers continue to shut down, but one expert says 2021 shows many are progressing in the transition from a printed business model to a digital model.
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