Overseas Headlines – December 22, 2021

United States:

Wall Street Ends Crazy Year With Existential Angst and Big Bonuses

“As Goldman Sachs Group Inc. boss David Solomon chatted at a November dinner for retired partners, he mentioned that the firm will be among the country’s most profitable big public companies this year. But the veteran mergers banker Geoff Boisi was struck by how muted the excitement has been.”



U.K. Economy Closer to Pre-Covid Levels Despite 3Q Downgrade

“The U.K. economy has recovered from the pandemic faster than previously thought despite a downgrade to growth in the three months through September. The Office for National Statistics said gross domestic product is now 1.5% smaller than at the end of 2019, an improvement on its previously estimated shortfall of 2.1%.”



China’s Growth Seen Picking Up in 2022 on Policy Easing, MS Says

“China’s economy is expected to enter an upswing cycle in 2022, as policy makers shift from over-tightening to easing after a policy-induced economic downturn, Morgan Stanley says. China has already hit pause on their deleveraging efforts and started to ease both monetary and fiscal policies, the firm wrote in a report Tuesday, with more easing expected to come.”




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