The need to know

The need to know for the week ending 12th May 2023

The need to know from Reuters’ global network of journalists

East, southern Europe win as firms rethink supply chains - study

Low-cost economies in eastern and southern Europe are being increasingly favoured for investment as companies around the world revamp supply chains to make them more resilient and cost-efficient, a study by professional services group EY found.

Geopolitics is shrinking India’s risk premium

Indian tycoons and financiers are sitting back as global business comes to them for a change.

Analysis: German firms keep investing in China despite moves to 'de-risk'

German companies are increasing investment in China, even as the German government, the European Union and the G7 want to "derisk" their relationships with Beijing.

Largest ever US solar factory shows rapid pivot to American made

A plan by U.S. developer Invenergy and China's Longi to build the U.S.' largest solar panel factory signals rapid growth ahead in U.S. manufacturing as developers wade into the supply market.

ProLogium picks northern France for new battery gigafactory - sources

Taiwanese company ProLogium will build a battery "gigafactory" in Dunkirk, northern France, two sources said on Tuesday, as European countries and carmakers seek to lure suppliers of key components for electric vehicles onto their home turf.

Merck KGaA aims to build domestic supply chains in China

German technology group Merck KGaA (MRCG.DE) said it was determined to invest further in China and aims to build domestic supply chains there to curb imports of key raw materials amid rising tensions between Beijing and Western powers.

Volkswagen defends China record at turbulent shareholder meeting

Volkswagen (VOWG_p.DE) defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile annual general shareholder meeting on Wednesday.

Mexico rolls out investment plans for southern industrial corridor

The Mexican government on Monday set out fresh details of a plan to attract businesses to a corridor straddling a narrow isthmus of southern Mexico, part of a larger push to pump investment into the relatively poor region.

Vietnam boosts rare earths output by tenfold - data

Vietnam's mined output of rare earths soared tenfold last year, U.S. data showed, as global firms have flocked to the Southeast Asian country with the world's second largest estimated deposits to reduce reliance on China for the key industrial metals.

Amazon offers US shoppers $10 to pick up purchases as it targets delivery costs (AMZN.O) is offering U.S. customers $10 to pick up a purchase rather than have it shipped to a home address, as the e-commerce giant joins other retailers in racing to slash costs for home delivery and returns amid slack consumer demand.

Amazon plans more warehouses and higher headcount in Europe

Amazon (AMZN.O) plans to open new warehouses and hire more people in Europe, an executive said on Tuesday, even as squeezed consumer spending forces the tech giant to cut costs globally and lay off some employees.

Italy wrestles with antitrust loophole that could save Amazon a packet

ROME, May 11 (Reuters) - Italy's competition watchdog AGCM is trying to close a legal loophole that has allowed several companies to evade antitrust fines and may help Amazon (AMZN.O) in an ongoing appeal, a legal expert and two sources told Reuters.

France's CMA CGM commits to buy Bollore logistics unit for $5.5 bln

French shipping group CMA CGM (CMACG.UL) has committed to buy the logistics operations of family-run conglomerate Bollore (BOLL.PA) for an enterprise value of 5 billion euros ($5.5 billion), the two companies said on Monday.

Column: US industrial recession cuts diesel and electricity use

U.S. manufacturing and freight activity has declined for six months running, which is being reflected in falling consumption of diesel and other distillate fuel oils as well as industrial electricity sales.

China's shrinking imports, slower exports growth darken economic outlook

China's imports contracted sharply in April, while exports rose at a slower pace, reinforcing signs of feeble domestic demand despite the lifting of COVID curbs and heaping pressure on an economy already struggling in the face of cooling global growth.

Column: China's imports of major commodities lose steam in April

China's imports of major commodities lost momentum in April as the strong start to the year faded amid uncertainty about the strength and composition of the recovery in the world's second-biggest economy.

Alibaba logistics arm eyes up to $2 billion Hong Kong IPO - sources

Alibaba's (9988.HK) logistics arm aims to raise up to $2 billion via a listing in Hong Kong likely early next year, sources with knowledge of the matter said, bolstering hopes for a capital markets revival in the Asian financial hub.

Logistics firm XPO cuts jobs as cost controls drive profit beat

Logistics company XPO Inc (XPO.N) on Thursday said it had cut jobs as it surpassed Wall Street targets for first-quarter adjusted profit as cost controls offset waning demand for freight, driving up its shares to a more than 1-1/2-year peak.

Deutsche Post freight business equipped for big acquisitions - unit chief

Deutsche Post's freight business could integrate large acquisitions, the head of the unit told Reuters on Wednesday, adding that if Deutsche Bahn's Schenker business were put up for sale, the company would have to see if it would be a good fit.

China COSCO SHIPPING subsidiary climbs on German nod of port terminal deal

Share prices of COSCO SHIPPING Ports Ltd (1199.HK) rose to as much as a three-month high on Thursday, after the German government cleared it to buy part of a Hamburg port-based container terminal, amid a political row over Chinese investment.

India's Blue Dart Express posts 49% drop in Q4 profit on higher expenses

Indian logistics services provider Blue Dart Express Ltd (BLDT.NS) reported a drop in profit for the second quarter in a row on Friday on continued pressure from higher expenses.

Why eastern Europe's grain producers face a perfect storm

When global grain prices started falling last year after a spike in the first months of the war in Ukraine, Poland's then agriculture minister urged farmers to hang onto their harvests in the hope of a rebound and better returns.

Macquarie expects $1 bln from sale of U.S. port terminal operator Ceres - WSJ

Australia's Macquarie Group Ltd (MQG.AX) is looking to sell its North American port facilities business, Ceres Terminals, for about $1 billion, the Wall Street Journal reported on Tuesday citing sources familiar with the matter.

U.S. launches $4 billion effort to electrify U.S. ports, cut emissions

The Biden administration on Friday launched a $4 billion effort to electrify U.S. ports and cut heavy duty truck emissions as the government looks to address disproportionate impacts on nearby communities.

German rail union's planned strike likely to impact freight, rail traffic

Germany's railway union EVG on Thursday announced a new 50-hour strike to take place from Sunday to Tuesday as wage talks with state train operator Deutsche Bahn (DBN.UL) and around 50 other rail companies dragged on without a resolution.

PostNL shares soar as Q1 volumes and profit fall less than forecast

Dutch postal firm PostNL (PTNL.AS) on Monday affirmed its 2023 outlook after reporting a smaller than expected drop in first-quarter parcel volumes and operating profit helped by measures to cut delivery costs, sending its shares up nearly 10%.




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