The European Union's statistics agency Tuesday said consumer prices in the currency area were 4.9% higher than in November 2020, by far the fastest annual rise since records began in 1997 and more than double the ECB's 2% target. The previous high of 4.1% was matched in October, having first been reached in July 2008. Economists had expected to see a pickup in inflation during the month, but only to 4.5%.
French Nationalist TV Host Éric Zemmour Launches Presidential Bid to Challenge Macron
PARIS-Éric Zemmour, the nationalist French talk-show host and pundit, announced his candidacy for president on Tuesday, challenging President Emmanuel Macron in next year's election with a tough line on immigration, Islam and the European Union.
Mr. Zemmour is seeking to oust Marine Le Pen as the French far right's standard-bearer to become the leading contender against Mr. Macron in the election. He has harnessed his celebrity as a television commentator to win support both from France's far right and from traditional conservatives.
Pfizer Vaccine Executive Moves to Rival GlaxoSmithKline
Pfizer Inc.'s top viral vaccine-science executive is leaving the pharmaceutical giant for rival GlaxoSmithKline PLC, a high-profile industry move that comes as Pfizer and other vaccine makers scramble to assess how their shots will stand up to a new variant of the coronavirus that causes Covid-19.
GSK said Philip Dormitzer, previously Pfizer's chief scientific officer for viral vaccines, will join the British drug giant as its global head of vaccines research and development. His first day will be Friday, the company said.
CNN Suspends Chris Cuomo Indefinitely Over Role in Brother's Response to Sexual-Misconduct Allegations
CNN suspended prime-time anchor Chris Cuomo indefinitely after records released this week by the New York attorney general's office provided a detailed look into his efforts to help his brother, former New York Gov. Andrew Cuomo, respond to allegations of sexual misconduct.
In a statement released Tuesday, CNN said that the records "raise serious questions" about Chris Cuomo's conduct. "These documents point to a greater level of involvement in his brother's efforts than we previously knew," a CNN spokesman said. "As a result, we have suspended Chris indefinitely, pending further evaluation."
GlobalFoundries Says Revenue Rose 56% as Chip Shortage Continues
GlobalFoundries Inc. swung to a third-quarter profit and its revenue rose 56%, driven by strong demand amid a chip shortage.
The contract chip maker, one of the world's largest chip makers and Ford Motor Co.'s semiconductor partner, reported a $5 million profit for the September quarter, compared with a $293 million loss a year earlier. On a per share basis, the profit was one penny, or 7 cents on an adjusted basis.
Judge Questions If Purdue's Sacklers Abused Bankruptcy System
The federal judge weighing the $4.5 billion settlement between Purdue Pharma LP and the Sackler family members who own the OxyContin maker said she had serious concerns about whether they abused the bankruptcy system by collecting billions of dollars from the company before it filed for chapter 11 protection.
Judge Colleen McMahon of the Southern District of New York said during a hearing Tuesday there was "quite a bit" of circumstantial evidence made public during Purdue's chapter 11 case to suggest members of the Sackler family transferred money out of the company to shield their wealth after the drugmaker pleaded guilty in 2007 to federal charges over how it marketed OxyContin, its flagship opioid painkiller.
Salesforce Names Bret Taylor Co-CEO
Business-software company Salesforce.com Inc. elevated Bret Taylor to the role of co-chief executive officer and vice chairman, as it issued third-quarter results, including a muted sales outlook.
Mr. Taylor has been president and chief operating officer since 2019 under CEO and chairman Marc Benioff. The move restores the co-CEO structure that Salesforce had until last year when Keith Block stepped down.
HPE's quarterly earnings blow past estimates
Hewlett Packard Enterprise Co. on Tuesday reported better-than-expected quarterly earnings and sales in line with Street estimates, though shares slipped about 2% in after-hours trading.
The company HPE reported fourth-quarter net earnings of $2.55 billion, or $1.91 a share, compared with net earnings of $157 million, or 12 cents a share, in the same quarter a year ago. HPE said adjusted earnings were 52 cents a share, up from 41 cents a share in the year-ago quarter.
Nasdaq to Move Markets to Amazon's Cloud
Nasdaq Inc. said that next year it plans to begin moving its North American markets to Amazon.com Inc.'s Amazon Web Services cloud-computing platform.
The move, which will take a phased approach starting with Nasdaq MRX, a U.S. options market, involves turning over massive amounts of the exchange operator's data to a third-party cloud service. Nasdaq didn't disclose a timeline for moving its other markets.
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Expected Major Events for Wednesday
00:01/UK: Nov CBI Growth Indicator Survey
00:01/UK: Nov Shop Price Index
01:01/IRL: Nov Ireland Manufacturing PMI
07:00/TUR: Nov Turkey Manufacturing PMI
07:00/GER: Oct Retail Trade
07:00/UK: Nov Nationwide House Price Index
07:00/NOR: 3Q Balance of Payments
07:30/SWI: Nov CPI
08:00/HUN: 3Q GDP
08:00/HUN: Oct PPI
08:00/POL: Nov Poland Manufacturing PMI
08:00/NED: Nov Netherlands Manufacturing PMI
08:15/SPN: Nov Spain Manufacturing PMI
08:30/CZE: Nov Czech Republic Manufacturing PMI
08:30/SWI: Nov procure.ch Purchasing Managers' Index
08:45/ITA: Nov Italy Manufacturing PMI
08:50/FRA: Nov France Manufacturing PMI
08:55/GER: Nov Germany Manufacturing PMI
09:00/GRE: Nov Greece Manufacturing PMI
09:00/EU: Nov Eurozone Manufacturing PMI
09:30/UK: Nov CIPS / Markit Manufacturing PMI
09:30/UK: Nov Narrow money (Notes & Coin) and reserve balances
10:00/CYP: Sep Retail trade
10:00/CYP: 3Q GDP
10:00/DEN: Nov Danish PMI
11:00/IRL: Nov Monthly Unemployment
16:59/AUT: Nov Unemployment figures
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December 01, 2021 00:23 ET (05:23 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.