Today’s Business and Stock Market News: Live Updates – The New York Times

The growth was driven by spending on services, especially in hotels, restaurants and entertainment as the last of the major pandemic restrictions were lifted in July and people vacationed in the country.

Supply chain disruptions and bottlenecks have held back growth in Britain and are expected to last longer than previously anticipated.

It cut a whole percentage point off growth for 2022 — to 5 percent — as supply disruptions are expected to weigh on the economy until late in the year and the annual inflation rate is forecast to climb to about 5 percent in the spring.

The Bank of England said it would probably need to raise interest rates in the coming months as prices climb, but it was waiting for more official data on what has happened in the labor market after the end of the government-sponsored furlough program in September.

As the recovery is expected to continue to slow, the National Institute of Economic and Social Research warned this week that British households would be “painfully squeezed” as prices rise, fiscal stimulus is reduced and tax increases come into force in April.

Europe’s economy rebounded this year from the pandemic faster than expected, and regained prepandemic levels of growth during the summer.

Europe spent hundreds of billions of euros to keep workers furloughed during national shutdowns, and such programs have helped millions of people stay in their jobs and avoid a surge in unemployment, the report said.

As in the United States and Britain, however, labor shortages have been plaguing industries that were quick to reopen, especially restaurants and parts of the retail sector.

Altogether, the price of goods, services, energy and food combined jumped 3.4 percent in September from a year earlier, and even without volatile food and energy prices, the inflation rate is the highest in a decade.

Mr. Musk sold about 4.5 million shares between Monday and Wednesday, according to filings with the Securities and Exchange Commission.

In the filings, Mr. Musk said he had sold about a million of the shares “solely” to cover taxes on 2,154,572 in stock he picked up at $6.24 each.

Over the weekend, Mr. Musk posted a poll to Twitter asking his followers whether he should sell 10 percent of his stock, referring to a political debate over whether the wealthiest Americans should be taxed according to their wealth rather than their income.

Many of those options are unlikely to qualify for preferential tax treatment, meaning he could owe billions of dollars in taxes if he exercises all of them.

An earlier version of this article misstated the day Elon Musk sold shares to cover tax obligations.

China Evergrande has made interest payments totaling nearly $150 million on three bonds that had grace periods set to expire on Wednesday, a spokeswoman for the German clearing house Clearstream said.

Federal prosecutors with the Eastern District of New York have in recent weeks been in contact with at least one company that had dealings with Ozy, two people with knowledge of the matter said.

After a dazzling introduction in late 2019, Disney+ has encountered numerous headwinds, including a pandemic-related shortage of new shows, an increasingly competitive streaming environment, the delay of Indian Premier League cricket games and difficulties rolling out in Latin America.

The shopping holiday, which Alibaba invented over a decade ago, is evolving for a chastened new era for China’s internet industry, one that emphasizes fairness and responsibility and publicly spurns growth-at-all-costs excess.

Such are the times for Big Tech in China under Xi Jinping.

To design experts, the change by a scandal-plagued company was the latest example of efforts by corporate America to create brands that are less unique and ultimately less offensive.

“It checks a lot of boxes,” said Michael Evamy, the author of “Logo,” an anthology of corporate brands and logos.

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