The producer price index for industrial products in Germany rose 18.4% in October compared with the prior year, the German statistics office Destatis said Friday. German Producer Prices Rise at Fastest Annual Pace in Almost 60 Years Other badly hit German states are considering similar measures and may announce them in the coming days. The German state of Saxony declared it would go into a partial lockdown for two or three weeks starting Monday, closing bars, restaurants and clubs and canceling all large events. The size of the package was nearly double what analysts were expecting earlier this month and amounts to about one-tenth of Japan's gross domestic product.Ĭovid-19 Surge Prompts Renewed Lockdown in Parts of EuropeīERLIN-Parts of Europe are again locking down to prevent hospitals from becoming overwhelmed by a steep rise in Covid-19 patients as data shows a rise in infections among vaccinated people who are passing on the disease. TOKYO-Japan's government approved a $490 billion package to support recovery from the Covid-19 pandemic after recent economic struggles, including cash payments to most families and some smaller companies. Japan Plans $490 Billion Stimulus to Jolt Struggling Economy
And they were disproportionate beneficiaries of Fed programs meant to buoy U.S. Oil-and-gas companies have raked in record amounts of private-sector financing since the Fed's 2020 interest-rate cuts and corporate bond-buying programs, upending years of declining investment in fossil fuels. But the Federal Reserve's pandemic-era rescues have kept the spigot open. The world's biggest banks and investors recently pledged at the Glasgow climate conference to crimp the flow of finance to fossil fuels.
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