Overseas Headline -February 22, 2021

United States:

Powell Pressure, Biden’s Recovery Plan, Shipping Snarls: Eco Day

“Federal Reserve Chair Jerome Powell can expect pressure to support the stimulus plan of Democratic lawmakers when they host him this week on Capitol Hill. They are beginning the final push for President Joe Biden’s $1.9 trillion bill. Meanwhile, the next phase of his legislative agenda is fast taking shape, with an economic-recovery package that will potentially far surpass the virus-relief plan”



Inflation Anxiety Awaits Europe as Businesses Ponder Prices

“Europe’s consumer-facing companies face a critical choice for when the pandemic passes: should they exploit the expected pickup in business by raising prices? There’s likely to be a rush to hairdressers, restaurants and tourism agencies reopening when virus restrictions end, fueled by pent-up demand and a hoard of cash accumulated after more than a year of forced saving.”



China Vaping Firm RLX Tech Taps Citi Dealmaker Lu as CFO

“Chinese e-vapor company RLX Technology Inc. has hired Lu Chao, Citigroup Inc.’s top Asia health-care investment banker as its chief financial officer, according to people with knowledge of the matter. Lu, a managing director and head of Asia health-care investment banking at Citi, is expected to join the U.S.-listed e-cigarette maker as soon as March, the people said. Lu will help RLX Tech to identify expansion and investment opportunities in the health care industry that could apply its vaping technology, said the people, who asked not to be named as the information is private. He will still be based in Hong Kong, they said.”




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