Santa Claus started his holiday shopping early in Spain this year, amid fears of logistic problems and new coronavirus restrictions that could close toy stores.
Toy sales in Spain increased 23% in October and November compared with the same two months in 2020, according to data from NPD Group, a market-research company. Sales were 15% above their pre-pandemic level in October and November 2019, NPD's data shows.
"The strong growth in toy sales at the start of the Christmas season reflects an almost complete return to normality, with consumers returning to stores after a sad Christmas in 2020," Fernando Perez, country manager at NPD Spain, told The Wall Street Journal.
Julius Baer CFO to Leave, Deputy Is Named Successor
Julius Baer Gruppe AG said Wednesday that Chief Financial Officer Dieter Enkelmann is stepping down, and named Evie Kostakis as his successor.
The Swiss bank said that Mr. Enkelmann is leaving effective July 1 after 15 years at the company.
Aker BP to Buy Lundin Energy's Oil and Gas Business for $13.8 Bln
Aker BP ASA said Tuesday that it will buy the oil-and-gas business of Lundin Energy to create the largest listed oil-and-gas company focused purely on the Norwegian Continental Shelf.
The Norwegian oil-and-gas producer said that the purchase of the Swedish business's assets, valued at around 125 billion Norwegian krone ($13.8 billion), brings strategic and value-accretive benefits, increasing scale and high-quality high returns. The transaction is subject to shareholder approval, and completion is expected in the second quarter of 2022.
NatWest Pleads Guilty to Manipulating Treasury Markets
WASHINGTON-NatWest Markets PLC pleaded guilty to wire and securities fraud, admitting that its traders in London, Singapore and Connecticut engaged in several schemes between 2008 and 2018 to manipulate U.S. Treasury markets.
The investment bank's general counsel entered the plea in a hearing held remotely Tuesday before a federal judge in Connecticut. Under a plea deal filed in court, the bank agreed to $35 million in fines and other penalties, a three-year term of probation during which NatWest is required to cooperate with prosecutors and the appointment of a corporate monitor to assess the bank's compliance practices.
U.S. Sees Russian Gas Pipeline as Leverage in Ukraine Crisis, but Needs German Help
WASHINGTON-A Russian pipeline carrying natural gas to Germany is emerging as a potential point of leverage for the U.S. to deter Russia from invading Ukraine. It is also a sore spot between Berlin and Washington.
The Nord Stream 2 pipeline, which is completed but not yet certified for operation, is a key component of German energy plans, a potential source of Russian revenue and, U.S. officials said, a topic of discussions between Washington and Berlin over how to stop Russia's military pressure on Ukraine.
GLOBAL NEWS
Companies Plan to Pour Even More Cash Into Buybacks, Dividends in 2022
Sitting atop a haul of strong earnings, companies are planning to spend even more in 2022 on share buybacks and dividends, a trend finance executives don't expect to slow despite a proposed 1% excise tax on repurchases.
Many companies have bounced back from the blow dealt by the coronavirus pandemic and are in a period of hale growth, giving them ample leeway to reward their shareholders, said Howard Silverblatt, a senior index analyst at S&P Dow Jones Indices, a unit of S&P Global Inc.
Biden Administration to Combat Omicron by Distributing 500 Million At-Home Covid-19 Test Kits
WASHINGTON-The Biden administration is preparing to distribute 500 million free at-home Covid-19 testing kits to Americans and deploy military doctors and nurses to overburdened hospitals this winter, as the Omicron variant becomes the dominant form of the virus in the U.S.
"We have to do more. We have to do better-and we will," President Biden said at the White House on Tuesday during a speech outlining the new coronavirus-response measures.
Biden Still Hopes to Strike 'Build Back Better' Deal With Manchin
WASHINGTON-President Biden expressed optimism Tuesday that he could find a pathway to an agreement with Sen. Joe Manchin after the West Virginia Democrat rejected Democrats' roughly $2 trillion education, healthcare and climate proposal.
"Some people think maybe I'm not Irish because I don't hold a grudge," Mr. Biden told reporters at the White House after laying out additional steps to combat the Covid-19 Omicron variant. "Look, I want to get things done. I think there's a possibility of getting 'Build Back Better' done."
To Limit Omicron, Singapore Freezes Ticket Sales for Quarantine-Free Travel
SINGAPORE-The Asian financial hub of Singapore said it would limit the number of travelers for its quarantine-free entry program, a new setback for border-reopening plans in the region as the Omicron variant spreads.
The Ministry of Health said on Wednesday that from Dec. 23 to Jan. 20 the government would suspend the sale of airline and bus tickets for those seeking quarantine-exempt entry to Singapore to reduce the country's exposure to imported Omicron cases. Those who have already booked their tickets will be allowed to proceed with their travel plans without facing mandatory quarantine upon their return.
Omicron Spread Prompts More Interest in Booster Shots Than New Vaccinations
A recent rise in Covid-19 cases driven by the Omicron variant is prompting more vaccinated Americans to consider getting booster shots, but it doesn't appear to be persuading large numbers of the unvaccinated, survey data shows.
Among vaccinated adults who haven't had a booster shot, 54% are more likely to do so because of Omicron, according to a survey released by the Kaiser Family Foundation Tuesday. Of unvaccinated respondents, 12% said the fast-spreading variant's emergence would make them more inclined to get their first shot.
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(END) Dow Jones Newswires
12-22-21 0556ET
