The need to know

The need to know for the week ending 8th September 2023

The need to know from Reuters’ global network of journalists

Column: Global container freight still stalled

Global industrial production and containerised freight flows remained in the doldrums at the start of the third quarter, confounding predictions earlier in the year for a strong rebound.

Top global ports may be unusable by 2050 without more climate action - report

Some of the world's largest ports may be unusable by 2050 as rising sea levels hit operations, and efforts to speed up decarbonisation of the maritime sector and bring in new technology are vital, a study showed on Friday.

Sustainability takes back seat in auto industry sourcing decisions - survey

Automakers and suppliers are deprioritising sustainability initiatives in their sourcing policies and focusing on lowering exposure to geopolitical risk after years of supply chain turmoil, a survey of over 1,000 executives showed on Monday.

Shoppers say they want sustainable goods, but won't pay more

Consumer goods makers and retailers investing in sustainably made products after years of shopper outcry, say they face an uphill struggle convincing people to switch when those products cost more or look inferior.

From suppliers to costs, sustainability goals challenge companies

As they endeavour to meet lofty sustainability goals, companies from Japan's Asahi (3333.T) to retailer John Lewis face challenges like confusion among suppliers, tough legislation, and friction with top management over costs, executives said.

Panama Canal water levels at historic lows, restrictions to remain

The Panama Canal's water levels have not recovered enough as the end of the rainy season approaches and limits on daily transit and vessel draft will stay in place for the rest of the year and throughout 2024, the waterway's authority said on Tuesday.

Comment: We are finally treating growing water scarcity as the global crisis it is

With each passing day, the precarious state of the global water crisis becomes clearer. Escalating pollution.

New EU sustainability reporting rules are a challenge, says Puma

Meeting new European Union requirements for corporate reporting on sustainability is a challenge, sportswear brand Puma's (PUMG.DE) head of sustainability said on Wednesday, ahead of what he called an "avalanche" of regulation in the bloc.

Exclusive: China to launch $40 billion state fund to boost chip industry

China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, as the country ramps up efforts to catch up with the U.S. and other rivals.

Column: China's zinc import surge a sign of renewed optimism

China has rediscovered its appetite for imports of refined zinc after a prolonged absence from the international market.

Volkswagen cuts hours at main Wolfsburg plant over parts shortage

Volkswagen (VOWG_p.DE) is reducing work hours for employees at the German carmaker's main plant in Wolfsburg for three weeks in September due to a parts shortage caused by recent floods in Slovenia, a spokesperson for the company said on Monday.

Skoda Auto to halt production at Czech Kvasiny plant due to parts shortage

Volkswagen's (VW) (VOWG_p.DE) Czech car producer Skoda Auto said on Friday it would halt production at its Kvasiny plant for at least a week from Sept. 11 and did not rule out limiting output at its main plant in Mlada Boleslav due to a shortage of parts.

US, Saudi Arabia, India discuss possible rail, port deal -sources

The U.S., Saudi Arabia, India and other nations are discussing a possible infrastructure deal that could reconfigure trade between the Gulf and South Asia, linking Middle Eastern countries by railways and connecting to India by port, according to U.S. officials aware of the conversations.

Former Amazon executive Dave Clark to resign as Flexport CEO

Former Amazon executive Dave Clark on Wednesday announced that he will resign as CEO of U.S. logistics startup Flexport about a year after he joined the company.

Amazon loses bid to dismiss consumers' price-fixing lawsuit in US court (AMZN.O) must face a prospective consumer class action in Seattle federal court accusing the online retail giant of a price-fixing scheme that has artificially inflated prices for numerous goods on its platform, a judge ruled on Thursday.

Smurfit Kappa in talks with WestRock to create paper and packaging giant

Smurfit Kappa is in discussions to merge with U.S. rival WestRock (WRK.N), the Irish firm said on Thursday, in a tie-up of two of the world's largest paper and packaging producers.

Teardown of Huawei's new phone shows China's chip breakthrough

Huawei Technologies and China's top chipmaker SMIC (0981.HK) have built an advanced 7-nanometer processor to power its latest smartphone, according to a teardown report by analysis firm TechInsights.

Ukraine says it's shipping grain via Croatian ports

Ukraine has started exporting grain via Croatian seaports, aiming to broaden its export routes while its Black Sea ports are blocked, a senior Ukrainian official said on Thursday.

German exporters see decline in trade in 2023, survey shows

Most German exporters see trade declining or even strongly declining in 2023, the Federation of German Wholesale, Foreign Trade and Services (BGA) said on Wednesday.

China's trade slump narrows as stabilisation signs emerge

China's exports and imports extended declines in August as the twin pressures of sagging overseas demand and weak consumer spending at home squeezed businesses in the world's second-largest economy, although the falls were slower than expected.

India's August fuel consumption perks up on strong manufacturing

India's fuel consumption in August inched up from a 10-month low, government data showed on Wednesday, as strong factory activity in the world's third-biggest oil importer and consumer offset the usual monsoon lull.

Column: Prolonged US manufacturing slowdown barely dents energy use

U.S. manufacturers reported that business activity declined for the 10th month running in August, though declines are becoming less widespread implying the trough in the cycle may be approaching.

German exports fall less-than-expected 0.9% in July

German exports fell a less-than-expected 0.9% in July from a month earlier as global demand continued to falter, data from the federal statistics office showed on Monday.

Tesla suppliers say carmaker expects 2026 or 2027 Mexico production start, Reforma reports

Tesla (TSLA.O) is eyeing 2026 or 2027 to potentially begin production at a major new factory planned for Mexico, according to a report published in Mexican daily Reforma on Wednesday.

Mercedes-Benz: Europe likely won't be ready for all-electric sales by 2030

Mercedes-Benz (MBGn.DE) does not expect its sales in Europe to be all-electric by 2030 but will have its line-up ready, Chief Executive Ola Kaellenius said in an interview at the Munich car show.

Focus: Inside Cleveland-Cliffs' bid to keep U.S. blast furnaces smelting

High costs and environmental opposition have prevented the construction of blast furnaces at steel mills in the United States since 1980.

Chipmaker Taiwan seeks other EU trade deals given investment agreement 'a long shot'

Taiwan is seeking other trade agreements with the European Union given a long-sought investment deal is a "long shot", a senior government official said on Thursday, as the bloc courts Taiwanese chip firms to build factories on the continent.

South Africa's Shoprite will spend $440 million to support market share growth

Shoprite (SHPJ.J) plans to spend about 8.5 billion rand ($443 million) to increase supply chain capacity, add stores and strengthen its digital capability, South Africa's biggest supermarket group said on Tuesday after posting a 9.6% rise in annual profit.

Indonesia proposes critical minerals trade deal with US

Indonesia has asked the United States to begin talks on a trade deal for critical minerals so that exports from the Southeast Asian country can be covered under the U.S. Inflation Reduction Act, an Indonesian ministry said on Thursday.

German suppliers welcome Chinese EV makers' European plans

While Western carmakers look warily upon the European expansion plans of Chinese electric vehicle makers, major German auto suppliers are eager to expand on existing partnerships in China and provide those rising manufacturers with European-made parts.

China's auto workers bear the brunt of price war as fallout widens

As Shanghai sweltered in a heatwave in June, the car factory where Mike Chen works switched production to night shifts and dialled down the air-conditioning.

US extends tariff exclusions on some Chinese categories till end of 2023

The office of U.S. Trade Representative Katherine Tai on Wednesday further extended China "Section 301" tariff exclusions on 352 Chinese import and 77 COVID-19-related categories till Dec. 31 that were set to expire on Sept. 30.

US solar power capacity to expand by record 32 gigawatts in 2023, report says

The U.S. solar industry expects to add a record 32 gigawatts (GW) of production capacity this year, up 53% on new capacity in 2022 and helped by investment incentives under the Inflation Reduction Act, a report published on Thursday showed.

comments powered by Disqus