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US Business Newsletter
January 01 - January 31, 2022
Greetings from Consulate General of India,
New York!
Welcome to the January 2022 edition of our newsletter, bringing you important policy and high-impact news.
We hope you find it useful.
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A Forum for Indian Businesses in North East USA
(Covering: Connecticut, Maine, Massachusetts, New Hampshire,
New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont)
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Unemployment is falling fast, adding pressure for interest rate increases
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New data showing that the unemployment rate is falling and wages are rising are expected to cement and maybe even hasten the Federal Reserve’s plan to begin raising interest rates this year as it tries to put a lid on high inflation. The jobless rate fell to 3.9 percent in December 2021, based on data collected during a period that largely predated the worst of the Omicron-driven virus surge. |
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U.S. Productivity Increases by the Most
in more than a Year
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U.S. productivity surged last quarter by the most in more than a year, reflecting a sharp acceleration in economic output, while labor costs growth cooled. Fourth-quarter nonfarm business employee output per hour increased at a 6.6% annual rate from the previous three months, the largest advance since the second quarter of 2020, according to Labor Department figures Thursday, 3 February 2022. In the third quarter, productivity slumped 5%, the sharpest drop since 1981.
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Intel to Invest at Least $20 Billion in New Chip Factories in Ohio
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Intel has selected Ohio for a new chip manufacturing complex that would cost at least $20 billion, ramping up an effort to increase U.S. production of computer chips as users grapple with a lingering shortage of the vital components. Intel said on Friday, 21 January 2022 that the new site near Columbus would initially have two chip factories and would directly employ 3,000 people, while creating 7,000 short-term construction jobs and tens of thousands of permanent positions at suppliers and partners. |
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Jim Cramer’s advice for young investors who want to build wealth in the stock market
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“Buy two or three shares a month if that’s all you can afford. That’s how I started. Reinvest the dividends over time and you’ll have a real chance of making big money.” |
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S&P 500 Rises, Snaps Three-Week Losing Streak
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Major U.S. stock indexes rallied Friday, 28 January 2022 to finish one of their most tumultuous weeks in memory on a high note, buoyed by strong earnings from Apple and other big companies.
The move—capped off with a late-afternoon rally—was good news for investors after a nerve-racking January set to wrap up Monday, 31 January 2022. The S&P 500 and Dow Jones Industrial Average snapped three-week losing streaks and the Nasdaq rose more than 3% on the day to finish a wild week flat.
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Tesla Supplier LG Energy Hits $99 Billion Valuation on Trading Debut
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Shares in LG Energy Solution Ltd. jumped 68% on their first day of trading, after the world’s No. 2 maker of electric-vehicle batteries raised about $10.6 billion in South Korea’s largest-ever initial public offering.
The offering by LG Energy, which supplies batteries to Tesla Inc., General Motors Co. and Hyundai Motor Co., capitalized on investor appetite for key suppliers in the EV industry as well as electric-car makers themselves.
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Microsoft’s Activision Buy Highlights Push Toward Mobile, Metaverse
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$75 billion deal to buy Activision Blizzard Inc. reflects two trends driving consolidation in the video-game industry: the push to mobile and building for the metaverse. |
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Address: Consulate General of India,
3 East 64th street (Between 5th and Madison Avenues),
New York, NY 10065
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