The holidays are not over, yet, we see a surge in Omicron….I can’t imagine what the New Year brings…All the gatherings, NYE parties will certainly add to the surge. Airline cancellations is only the beginning, since the crew and passengers are getting sick. The weather is not helping in certain states either.
That didn’t stop Maersk from making a multi billion deal.
- Maersk, the world’s largest container-shipping company, is buying LF Logistics for $3.6B to support its booming ocean-freight biz with new distribution centers — hot commodities given the supply-chain snarls.
- Crypto: China’s official Xinhua News Agency unveiled its first NFT collection: 10K copies of 11 photos taken this year. Chinese regulators have cracked down on crypto trading and said NFTs and the metaverse should be closely monitored.
- Games : US regulators are investigating the safety risks of Tesla’s Passenger Play” feature, which lets drivers play games on their dashboard screen while driving. It’s the second investigation for Tesla this year, after Autopilot.
- Shop: Companies bought back a record $850B worth of shares this year as the pandemic rebound buoyed corporate earnings. Next year they plan to spend even more, but face scrutiny over whether the buybacks hurt wages.
- Cereal: Cheerios maker General Mills is hiking prices (again) as labor and material costs continue to spike from supply-chain backups. In the past year, the cost of eating at home has seen the highest price jump since 2008.
- Gifts: Despite fears that Christmas presents would be late this year, FedEx , UPS and USPS shipped out nearly all packages on time thanks to early and IRL holiday shopping.