The need to know
The need to know for the week ending 2nd June 2023
The need to know from Reuters’ global network of journalists
Global factories struggle for momentum amid patchy demand
Sluggish global demand deepened the decline in manufacturing activity across Europe and the United States and remained a major challenge for many of Asia's big exporters, business surveys for May showed on Thursday.
US core capital goods orders unexpectedly rebound in April
New orders for key U.S.-manufactured capital goods unexpectedly rebounded in April, raising cautious optimism that business spending on equipment could recover in the second quarter after recent back-to-back declines.
Column: China's soft economic data will mean lower commodity imports, but not yet
A run of weak economic data in China is likely to show up in softer imports of key commodities, albeit with a lag given the time taken to physically ship resources from around the globe.
No quick recovery for German economy after winter slump, research institute says
There is no quick recovery in sight for the inflation-hit German economy following a winter recession, the DIW economic research institute said on Wednesday, as its monthly indicator declined sharply in May.
Column: Germany energy transition faces key chemical sector conundrum
Europe's largest economy is also one of the region's most aggressive advocates for shifting energy systems away from fossil fuels, and leads the continent in emissions reduction targets and investments in renewable energy supplies.
Unilever pivots to African suppliers as forex pressure mounts
Busari Kasali once lived with the fear that his cassava - a staple crop in his native Nigeria - would spoil before it got to market. Today, the 76-year-old says his main concern is keeping up with growing demand from consumer goods giant Unilever.
U.S.-led Indo-Pacific talks produce deal on supply chain early warnings
Trade ministers of 14 countries in the U.S.-led Indo-Pacific Economic Framework (IPEF) talks "substantially completed" a deal to make supply chains more resilient and secure, the Commerce Department said on Saturday, marking the first tangible results of the year-long negotiations.
Nvidia CEO feels safe relying on Taiwan for chips
Nvidia Corp, a major supplier of chips and computing systems for artificial intelligence (AI), feels "perfectly safe" about relying so much on chip powerhouse Taiwan for manufacturing, its chief executive Jensen Huang said on Thursday.
Chinese tech entrepreneurs keen to 'de-China' as tensions with US soar
For the ambitious Chinese tech entrepreneur, expanding into the U.S. just keeps getting harder.
Taiwan, U.S. to sign first deal under new trade framework
Taiwan and the United States will sign the first deal under a new trade talks framework on Thursday, both governments said, boosting ties between the two at a time of heightened tensions with China over the democratically-governed island.
US, EU agree firm stance on China at trade, tech meeting
The United States and the European Union pledged on Wednesday to join forces to counter China's non-market economic practices and disinformation, particularly over Russia's invasion of Ukraine.
APEC trade chiefs agree on more inclusive trade, but no joint statement
Trade ministers from the Asia Pacific Economic Cooperation (APEC) countries agreed on Friday to promote more inclusive and sustainable trade, but failed to produce a joint statement due to Russia and China's objections to language on Ukraine.
US review of China tariffs won't depend on trade 'breakthrough,' official says
The United States is taking an analytical approach to its review of whether to keep tariffs on Chinese goods in place and will not base outcomes on any "breakthrough" in U.S.-China trade relations, Deputy U.S. Trade Representative Sarah Bianchi told Reuters.
China, South Korea agree to strengthen talks on chip industry, Chinese commerce ministry says
China and South Korea have agreed to strengthen dialogue and cooperation on semiconductor industry supply chains, amid broader global concerns over chip supplies, sanctions and national security, China's commerce minister said.
Washington and Tokyo vow closer chip cooperation
The United States and Japan will deepen cooperation in the research and development of advanced chips and other technologies, they said on Friday, the latest sign of the two allies strengthening ties in semiconductors.
Indonesia sees $32 bln investment in battery chain - government official
Indonesia could receive an estimated $31.9 billion in investments for projects tied to the battery supply chain by 2026, a senior government minister said on Tuesday, as the government looks to encourage value-added production.
Chinese battery cash will fuel Europe’s EV drive
Chinese cash is set to fuel Europe’s green mobility challenge.
IKEA stores owner Ingka buys warehouse software firm Made4Net
The largest owner of IKEA stores has acquired supply chain software firm Made4Net as the Swedish furniture retailer plans a major expansion in the United States and aims to grow its online sales.
Volkswagen launches extra shifts at Wolfsburg plant, brand board member says
Volkswagen (VOWG_p.DE) has introduced extra shifts at its factory in Wolfsburg, the carmaker's biggest, after supply chain disruptions in the wake of the Ukraine war and global chip shortage have eased, a senior executive said.
Shein plans to bolster compliance and logistics execs ahead of US marketplace
Fast-fashion retailer Shein is boosting senior leaders and executives to roll out its U.S. marketplace and to meet regulatory compliance as it deepens its footprint in North America and looks to diversify away from China.
India to lure manufacturers with electronics repair pilot project
India will start a pilot project this week to establish itself as an electronics repair hub by relaxing cumbersome import-export rules, a move that could draw tech majors such as Flex (FLEX.O) to expand such operations in the country.
Indian ports will test tycoons' safe harbour
The ideal shipping port is in calm waters.
Ukraine wants to make Danube canal deeper to expand grain export routes, Kyiv says
Ukraine wants to begin work to make its Danube shipping canal deeper as early as this year to expand its alternative routes to export grain, Deputy Minister of Renovation and Infrastructure Yuriy Vaskov said on Tuesday.
China, India receive record Russian crude oil in May, data show
Russian crude oil imports by China and India in May hit an all-time high as buyers gorged on discounted supplies, reducing demand for oil from the Middle East and Africa, according to preliminary assessments from ship trackers.
AerCap CEO says airlines to face supply squeeze for many years
Airlines could face shortages of planes, engines and parts for several years as they try to meet a strong rebound in travel demand, the head of aircraft leasing giant AerCap told Reuters.
Once-high-flying retailer ASOS falls after FTSE 250 relegation
ASOS (ASOS.L), the British online fashion pioneer valued at more than 7 billion pounds ($8.8 billion) just over two years ago, has been relegated from the FTSE 250 index of mid-sized companies, illustrating the sharp decline in its fortunes.