Overseas Headlines – April 12, 2021

United States:

White House to Hear From Companies Vying for Scarce Chips

“Top Biden administration officials will hear Monday from companies vying with each other for a sharply constrained global supply of semiconductors, as the White House tries to figure out how to relieve a shortage that’s idled automakers worldwide. More than a dozen chief executives, including the leaders of General Motors Co., Ford Motor Co. and Alphabet Inc.’s Google, are expected to participate. The meeting is likely to revolve around their grievances and isn’t expected to result in substantive outcomes or a path forward on the shortage, people familiar with the planning said.”



ECB’s Panetta Says Euro Area May Have Lost Two Years of Growth

“The euro area will not return to its pre-crisis growth path unlike the U.S., meaning that two years of economic expansion may have been permanently lost, European Central Bank Executive Board member Fabio Panetta said in an interview with El Paris.”



Japan’s Slow Vaccine Rollout Pushes Back Recovery Time Frame

“Japan’s vaccination drive finally kicks into gear Monday around four months after the start of inoculations in the U.S. and the U.K., a slow rollout that has generated further criticism of Prime Minister Yoshihide Suga’s handling of the pandemic. The doses for people 65 and over are the first vaccinations for members of the public in Japan after priority was given to inoculating frontline medical staff first.”



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