The need to know
The need to know for the week ending 20th October 2023
The need to know from Reuters’ global network of journalists
Crunch time for Brazil ports as coffee flow hit, sugar faces delays
Brazil's commodities export hubs are strained with record volumes of soy, corn and sugar to be moved at a time of the year when rains start to increase in southern ports, according to traders, analysts and shipping data.
Amazon River falls to lowest in over a century amid Brazil drought
The Amazon River fell to its lowest level in over a century on Monday at the heart of the Brazilian rainforest as a record drought upends the lives of hundreds of thousands of people and damages the jungle ecosystem.
How German companies are tackling China risk
Thomas Nuernberger is preparing for tougher times.
Breakingviews: Globalization woes create new winners and losers
The end of the era of untrammelled globalisation is a net negative for the world economy.
Philips CEO: China business, supply chain undergoing major changes
Making more products for China locally and buying chips from several suppliers are just two of the supply chain changes Dutch healthcare technology firm Philips is making due to rising trade tensions, its CEO Roy Jakobs told Reuters.
Exclusive: US tackles loopholes in curbs on AI chip exports to China
The U.S. will take steps to prevent American chipmakers from selling semiconductors to China that circumvent government restrictions, a U.S. official said, as part of the Biden administration's upcoming actions to block more AI chip exports.
Chinese chip equipment makers grab market share as US tightens curbs
As the U.S. tightens its restrictions on China's semiconductor industry, Chinese manufacturers of tools used to make chips are benefiting, with orders from the country's foundries accelerating in recent months.
Chinese gallium prices hit 7-month high as demand improves, shipments resume
Chinese prices of chip-making metal gallium hit their highest since February this week on stronger domestic demand and growing hopes of recovering exports, analysts and suppliers said.
Hapag Lloyd expects three tough years for shipping industry, Welt am Sonntag reports
The head of German shipping firm Hapag Lloyd (HLAG.DE), Rolf Habben Jansen, expects the next three years to be difficult because demand for shipping services is growing more slowly than available shipping capacity, he told the Welt am Sonntag newspaper.
Amazon rolls out robotic system at Houston warehouse to speed up deliveries
Amazon.com (AMZN.O) said on Wednesday it was using a robotic system at one of its Houston warehouses to improve inventory management and speed up deliveries, building on its years-long bet that automation will help boost sales and worker safety.
Amazon to launch drone deliveries in Italy and UK in late 2024
Amazon (AMZN.O) said on Wednesday it was planning to begin delivering packages through drones in Britain, Italy and a third location in the United States, as part of the e-commerce giant's efforts to expand its airborne delivery program.
Amazon to launch online shopping service in South Africa in 2024
Amazon (AMZN.O) said on Tuesday it would launch its online shopping service in South Africa next year, making it only the second African country after Egypt where the U.S. e-commerce giant has set up a locally-dedicated website.
Amazon defends Prime program in bid to defeat FTC lawsuit
Amazon.com (AMZN.O) has denied duping millions of subscribers to its Amazon Prime service, asking a U.S. judge in Seattle to dismiss a Federal Trade Commission lawsuit that the ecommerce giant said "fails in its entirety."
JD.com shares hit record low, banks cut Q3 growth target on retail slowdown
Shares in Chinese e-commerce giant JD.com (9618.HK) fell as much as 13% to a record low on Friday after several banks and brokers cut price targets and revenue growth forecasts for the firm, citing a weaker-than-expected recovery in consumer spending.
Amazon says it has 10,000 Rivian electric vans in its delivery fleet
Amazon.com (AMZN.O) has 10,000 Rivian electric delivery vehicles making routes across the U.S. and Europe, the company said during a business presentation on Tuesday.
Chinese EV battery giant CATL reports sharp slowdown in profit growth
China's CATL (300750.SZ), the world's largest battery maker for electric vehicles (EV), said on Thursday that third-quarter profit rose 10.7%, its weakest quarter since the start of last year as slowing demand and stiff competition hit.
Tesla joins GM, Ford in slowing EV factory ramp as demand fears spread
Tesla on Wednesday joined General Motors and Ford in being cautious about expanding electric vehicle production capacity, citing economic uncertainties and underscoring fears of a slowdown in demand.
Focus: Behind Detroit's battery fight: Profits, UAW's power and Tesla
The United Auto Workers and the Detroit Three automakers are stuck in a standoff over wages and union representation at future electric vehicle battery plants, with Tesla (TSLA.O) and Chinese rivals looming over the bargaining tables.
EU countries back targets to slash truck CO2 emissions
European Union countries backed tougher CO2 emissions targets for heavy goods vehicles on Monday, requiring new trucks to slash their emissions by 90% by 2040, but they delayed a planned target to drive a switch to electric city buses.
Volvo braces for slower truck markets next year after Q3 profit beat
Swedish truck maker AB Volvo (VOLVb.ST) on Wednesday posted a bigger-than-expected jump in quarterly profit helped by price hikes, sending its shares up, but predicted the European and North American heavy trucks markets would slow next year.
Evergreen line declares force majeure on Israel shipment -customer note
Taiwanese container shipping line Evergreen has declared force majeure on a shipment to the Israeli port of Ashdod, with its Ever Cozy vessel diverted to Haifa further north due to safety concerns, according to a customer note.
Berge Bulk launches wind power-aided ship to cut emissions
Singapore-based Berge Bulk has launched a ship fitted with steel-and-composite sails to cut fuel consumption and carbon dioxide emissions, with an eye to converting more vessels that ply routes with favourable wind conditions.
US oil refiners crank out diesel, further squeezing margins for gasoline
U.S. oil refiners have cranked up output of diesel, heating oil and jet fuel for winter but are struggling to turn a profit because gasoline margins have fallen over 80% since the summer driving season ended.
Growing tanker fleet, cheaper freight challenge Russian oil price cap
Russian crude oil producers are enjoying the cheapest costs to ship to refiners in China and India in almost a year thanks to a growing number of vessels plying the routes, according to trading and shipping sources.
WTO launching global carbon price task force - Okonjo-Iweala
The World Trade Organization is launching a task force to create a methodology to determine global carbon prices to ensure that plans to tax imports based on their carbon emissions do not unfairly penalize developing countries, director-general Ngozi Okonjo-Iweala said on Tuesday.
Analysis: Bumper US corn harvest sinks prices, pushes global supply to surplus
After a dry spring threatened to wither the U.S. corn crop in the fields, farmers are harvesting what will likely be the country's third-largest crop ever.
Analysis: China's growth surprise is not tempting investors
September data from China offered plenty of welcome surprises, with faster-than-expected growth, falling unemployment and a glimmer of momentum in consumption, but investors are not rushing to buy into the story.
Zinc market shifts to oversupply but where's the metal?
Zinc has been the second weakest performer among the London Metal Exchange (LME) base metals pack so far this year.
Inditex to use Maersk’s low-carbon fuels for maritime logistics
The world's biggest fashion retailer, Spain's Inditex, has agreed with the freight group Maersk to incorporate alternative fuels on all its inbound routes with the carrier as a way to reduce its global greenhouse gas footprint.
Walmart staffed up for holidays; US retailers cautious about economy
Walmart (WMT.N) signaled it has enough staff for the holidays, in another sign that top U.S. retailers, fearing a seasonal shopping slowdown, are holding off on the typical hiring sprees for the peak period.
China's Lingong Mexico plant to generate $5 billion in investment
China's Lingong Machinery Group (LGMG) will establish an industrial park in Mexico's northern state of Nuevo Leon that is expected to generate $5 billion in investments, according to a joint statement on Monday.
India's Tata Motors to buy 27% stake in Freight Tiger for $18 mln
Indian automaker Tata Motors (TAMO.NS)said on Thursday it will buy a 26.79% stake in digital logistics firm Freight Tiger for 1.50 billion rupees ($18.05 million), looking to boost its truck and freight operations.
Infineon signs semiconductor supply deal with automakers Hyundai, Kia
German chip manufacturer Infineon (IFXGn.DE) said on Wednesday it has signed a multi-year agreement with Hyundai and Kia to supply power semiconductors for the production of electric cars.
Taiwan's Powerchip considering 5 sites in Japan for $5.4 bln factory - sources
Taiwan chipmaker Powerchip Semiconductor Manufacturing Corp (6770.TW) is considering around five sites in Japan, including Mie prefecture, for setting up a potential $5.4 billion factory as talks on subsidies progress, sources said.
EU-made EVs would cost $4,100 more in UK under post-Brexit rules - SMMT
If Britain and the EU fail to postpone post-Brexit trade rules dictating local content in electric vehicles traded between the bloc and the UK, average EU-made car prices will rise 3,400 pounds ($4,134) in January, a trade group said on Wednesday.
Nestle misses nine-month sales estimates, expects volume upturn by year-end
Nestle (NESN.S) posted lower-than-expected nine-month sales growth on Thursday as higher product prices made shoppers balk, sending shares down about 2% in morning trade, but said it expects volumes to turn positive again by the end of the year.
Forest loss from SE Asia rubber is up to 3 times more than thought - study
Forest loss driven by rubber production in Southeast Asia could be two to three times higher than estimated, highlighting the challenges facing importers under pressure to find sustainable supplies, research showed on Wednesday.
EU seeks to ease US tariff, green subsidy threats
The European Union will seek this week to ward off the return of Trump-era metals tariffs and to lessen the negative impact on the U.S. Inflation Reduction Act (IRA) and its subsidies for electric vehicles.
California AG says he may sue to stop Kroger from buying Albertsons
California Attorney General Rob Bonta said on Thursday that his office was concerned about Kroger's (KR.N) proposed deal to buy rival Albertsons (ACI.N) for $24.5 billion, and may sue to stop it.
Volkswagen brand cost-cutting plan running behind schedule - sources
Volkswagen (VOWG_p.DE) is running behind schedule in defining key measures of a planned 10 billion euro ($10.5 billion) cost-cutting drive for its namesake brand, two people familiar with the matter said, as talks with powerful labour leaders drag on.
EU Commission proposes measures to curb microplastic pollution from pellets
The European Commission proposed measures on Monday to prevent microplastic pollution from the spillage of plastic pellets into the environment.
Toyota extends partial production halt at two Japan plants to Wednesday
Toyota Motor (7203.T), the world's biggest automaker by sales, will extend until Wednesday a partial production halt at two domestic assembly plants due to an accident at a supplier's facility, a company spokesperson said.
India allows some rice shipments to Philippines, other importing countries
India will allow exports of non-basmati white rice to a clutch of countries such as the Philippines - one of the world's biggest importers of the grain - a government order said on Wednesday.
Exclusive: Britain, South Korea extend tariff-free trade on goods with EU links
Britain and South Korea have agreed to extend a period of low or zero tariffs on bilateral trade of products with parts from the European Union, the British government said on Monday, in a boost for the car industry.