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Welcome to Thursday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • U.K. business groups called for government support after Prime Minister Boris Johnson announced restrictions to curb the spread of the omicron variant, which Bloomberg Economics estimates could cost the economy as much as 2 billion pounds ($2.6 billion) a month
  • The fastest wage gains since the 2008 global financial crisis are throwing up opportunities and obstacles throughout the U.K. economy, leaving workers to wonder how much they’ll ultimately benefit
  • Ukraine will probably raise borrowing costs to ease the impact of persistently high energy prices and shore up the currency as the country prepares for the threat of a possible war with Russia
  • The pound dropped to a one-year low as Goldman Sachs Group Inc. economists joined others in pushing back their forecast for the U.K.’s first post-pandemic rate hike amid the uncertainty caused by the omicron variant
  • Delivery times for chips lengthened again in November, dashing hopes that the end of shortages that have hammered many industries is finally in sight
  • U.K. employers increased starting salaries at a record pace in November amid an “unsustainable” shortage of workers, according to a survey published Thursday
  • Brazil’s central bank delivered its second straight interest-rate hike of 150 basis points and pledged that the world’s most aggressive tightening cycle won’t end until rising inflation estimates return to target
  • Poland raised borrowing costs and paved the way for more increases, cementing an about-face at the central bank after it faced criticism for being too slow to confront spiraling inflation
  • China’s factory inflation moderated in November from a 26-year high, with the slowdown providing more room for policymakers to support the economy
  • U.S. job openings jumped in October to the second-highest on record, underscoring the ongoing challenge for employers to find qualified workers for an unprecedented number of vacancies
  • South Korea said its fertility rate, already the world’s lowest, is expected to drop even further as the pandemic puts downward pressure on the number of births

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