Prices for shipping goods from Canada to the United States in the spot market for standard heavy-duty trucks jumped 44% to $4.07 per mile from Jan. 2 to Feb. 5, according to Truckstop.com Inc., a platform matching loads to trucks. The price of refrigerated trucks rose by a third during that period to $4.87, the company said.

   
 
 

Ukraine changes the playbook for the massive sale of the market

As dire as the prospect of war in Europe is, investors should avoid running headlong for cover.

   
 
 

The United States closes its embassy in Kyiv and relocates its diplomatic operations to western Ukraine

WASHINGTON — The United States is closing its embassy in the Ukrainian capital of Kiev and moving operations 340 miles west of Lviv, near the Polish border, as allies warn of an attack by Russian forces on the Ukraine could be imminent.

Secretary of State Antony Blinken described the move as a temporary move to protect embassy staff.

   
 
 

Inflation expectations moderated in January, says New York Fed

The American public expects future inflation rates to moderate for the first time in more than a year, the New York Fed said in its January survey of consumer expectations released Monday.

Respondents expect inflation a year from now to be 5.8%, down from their projection of 6% in December and the first moderation since October 2020. In three years, the public expects a inflation at 3.5%, against 4% the previous month. survey.

   
 
 

James Bullard Says Fed Must Raise Preload Rates Amid Soaring Inflation

Federal Reserve Bank of St. Louis President James Bullard said the central bank needed to act aggressively to contain inflationary pressures and wanted a series of interest rate hikes to do so.

Given the magnitude and duration of the inflation spurt, “our credibility is at stake here,” Bullard said in an interview with CNBC on Monday. To show a commitment to bringing inflation back to the central bank’s 2% target, “I think we need to accelerate our planned phasing out of accommodation more than we would have done before.”

   
 
 

Intel nears roughly $6 billion deal to buy Tower Semiconductor

Intel Corp. is close to a deal to buy Israeli chip company Tower Semiconductor Ltd. for nearly $6 billion, according to people familiar with the matter, bolstering a plan to make more chips for other companies.

A deal could be unveiled as early as this week, assuming the talks don’t collapse, the people said.

   
 
 

BHP’s first-half net profit more than doubles on strong commodity prices

BHP Group Ltd. said its first-half net profit more than doubled, buoyed by strong prices for all its commodities, including copper and coal.

The world’s largest listed miner by market value said it made net profit of $9.44 billion in the six months to December. It made a profit of $3.88 billion in the same period a year earlier, when impairment charges on its coal assets weighed on its bottom line.

   
 
 

Russian parliament to assess recognition of separatist regions of Ukraine

MOSCOW-Russian lawmakers will on Tuesday consider proposals urging President Vladimir Putin to formally recognize separatist-controlled regions of eastern Ukraine as independent states, which could justify Moscow’s foray into an area which he no longer considers to be Ukrainian territory.

The State Duma, Russia’s lower house of parliament, said on Monday it would consider draft resolutions submitted by the ruling United Russia party and the Russian Communist Party calling on Mr Putin to recognize the sovereignty of the self-declared Donetsk republics and Luhansk in the Ukrainian Donbass. Region.

   
 
 

Doing business in Myanmar is difficult, but Telenor from Norway finds leaving is not much easier

After last year’s military coup in Myanmar, the local branch of Norwegian telecommunications company Telenor ASA was ordered to block social media, shut down mobile services across the country and allow the junta to spy on citizens with a new invasive interception system.

In July, the company decided that mining conditions in the country had become unbearable and said it would pull out. Now it’s the learning that isn’t easy either.

   
 
 

Russia speeds up troop build-up along Ukrainian border

Russia continued its massive military buildup near Ukraine, as German Chancellor Olaf Scholz began shuttling between the two nations seeking to avoid conflict, and Moscow left the door open for talks.

US officials said Russian forces near Ukraine had grown to 105 battalion tactical groups from 83 groups earlier this month. Russia has also moved about 500 warplanes within range of Ukraine and has 40 combat ships in the Black Sea, US officials familiar with intelligence reports said.

   
 
 

Intel nears roughly $6 billion deal to buy Tower Semiconductor

Intel Corp. is close to a deal to buy Israeli chip company Tower Semiconductor Ltd. for nearly $6 billion, according to people familiar with the matter, bolstering a plan to make more chips for other companies.

A deal could be unveiled as early as this week, assuming the talks don’t collapse, the people said.

   
 
 

Talc users sue J&J over ‘abusive’ bankruptcy at start of trial

Johnson & Johnson moved a deluge of costly lawsuits over talc products to Chapter 11 to gain an unfair advantage in litigation, lawyers for cancer victims said as a bankruptcy trial opened Monday on the corporate legal strategy.

Personal injury attorneys have accused J&J of improperly seeking access to Chapter 11 without filing for bankruptcy itself, instead pushing the company’s talc liabilities to a new subsidiary that quickly filed for protection courts. The bankruptcy filing was designed to resolve the talc cases before J&J spun off its consumer health business, which was not in financial difficulty, personal injury attorneys said.

   
 
 

Write to [email protected]

   
 
 

Major events expected for Tuesday

05:30/NOR: Consumer confidence in the 1st quarter

07:00/NOR: January Foreign trade in goods

07:00/ROM: Evolution of GDP in the 4th quarter (estimated data)

07:00/UK: Monthly UK unemployment figures for January

07:45/FRA: New home sales in the 4th quarter

08:00/SPN: January IPC

08:00/HUN: December build

08:00/HUN: Preliminary Q4 GDP

08:00/SVK: 4T Flash estimate of total employment

08:00/SVK: Flash 4Q estimate of GDP

08:30/NED: 4Q GDP – 1st estimate

08:30/NED: December International trade

08:30/NED: Consumer spending in December

09:00/POL: flash estimate for the 4th quarter

09:00/POL: December Trade in goods

09:00/BUL: January CPI

09:00/POL: January IPC

10:00/GRE: January IPC

10 a.m./EU: December Foreign trade

10:00/CYP: 4T GDP (flash estimate)

10:00 a.m. / EU: flash estimate of 4th quarter GDP

10:00 a.m./EU: 4Q Flash employment estimate EU and euro zone

10:00/GER: Feb. ZEW Economic Sentiment Indicator

11:00 am/IRL: December goods exports and imports

All times in GMT. Powered by Kantar Media and Dow Jones.

Email us at [email protected]

We offer an enhanced version of this briefing, optimized for viewing on mobile devices and delivered straight to your inbox. If you would like to subscribe, go to https://newsplus.wsj.com/subscriptions.

This article is a text version of a Wall Street Journal newsletter published earlier today.

 

(END) Dow Jones Newswire

February 15, 2022 00:30 ET (05:30 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.