The need to know
The need to know for the week ending 17th November 2023
The need to know from Reuters’ global network of journalists
The United States prefers to talk about efforts to reduce its dependence on China in positive language.
Mainland Europe's two largest economies have reached key power price deals this month that should set the stage for increased power consumption by industry from 2024 onwards.
Material shortages in Germany's manufacturing sector have eased significantly, with the supply situation almost back to pre-crisis level, the Ifo economic institute said on Monday.
Most Chinese companies operating in the European Union are feeling a pinch from the bloc's de-risking strategy, but still see more opportunity than challenge in Europe's green and digital transitions, according to a survey published on Tuesday.
U.S. developers building renewable energy projects and power storage for grids are scrambling to procure critical components, leading to rising costs and project delays.
Europe's electricity grids cannot keep up with the continent's rapid expansion of renewable energy, and are becoming the main bottleneck to getting more clean energy into the network, the continent's power lobby has warned.
China and the U.S. have agreed to back a global target to triple global renewable energy capacity by 2030, the two superpowers said in a statement on Wednesday, two weeks before nearly 200 countries meet for the COP28 climate conference.
Geopolitical tensions and macroeconomic shocks are spurring businesses and governments into reconfiguring their supply chains, and the increased focus on diversification is leading to "clear benefits", Citigroup (C.N) CEO Jane Fraser said on Thursday.
U.S. manufacturing activity has shown little or no growth in the last year as businesses struggle with lacklustre consumer spending on merchandise and excess stocks built up after the pandemic supply chain disruptions.
Executives from Mexico's start-up sector say it should receive a boost in coming months, particularly in e-commerce and logistics related to nearshoring, as inflation eases and interest-rate cuts loom on the horizon.
Toymaker Lego will invest more than $200 million to expand its plant in the northern Mexican state of Nuevo Leon, the state's government said on Tuesday in a statement.
Mexico is eyeing broadening tax incentives set out in a recent "nearshoring" decree to companies that relocate operations to the country, Economy Minister Raquel Buenrostro was quoted as saying in a newspaper interview published on Thursday.
Mexican real estate investment trust Fibra Next plans to raise up to 15 billion pesos ($865 million) in its initial public offering, according to a filing with the country's main stock exchange on Tuesday, in a bid to capitalize on "nearshoring."
Walmart (WMT.N) on Thursday said U.S. consumers are acting more cautious with spending as the holiday season gets underway, even as the largest U.S. retailer raised its forecast for sales and profit for the year.
With gas prices and airfares falling it will be cheaper for Americans to get to Grandma's or wherever they celebrate Thanksgiving this year, and when they arrive they'll find another happy price shock: The turkey and sides will cost less than last year.
Wall Street is bracing for another quarter of weak sales from U.S. home improvement chains Home Depot (HD.N) and Lowe's (LOW.N) as demand remained under pressure from uneven consumer spending and a subdued housing market.
Target (TGT.N) on Wednesday forecast holiday-quarter profit largely above analyst expectations as supply chain costs finally eased and its efforts to control inventory started to pay off, sending shares up 17%.
As the world's nations enter another round of talks this week on creating a first-ever treaty to contain plastic pollution, officials are bracing for tough negotiations over whether to limit the amount of plastic being produced or just to focus on the management of waste.
European Union lawmakers and member states have reached a deal to revise the bloc's waste shipment regulation and end exports of certain types of waste to third countries unable to process it properly, the EU Parliament said on Friday.
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Chinese e-commerce company JD.com on Wednesday reported a surge in third-quarter profit as supply chain problems eased but its revenue came in below analysts' estimates.
DP World Australia, one of the country's largest ports operators, said on Monday operations had resumed at all its facilities after a cyber security incident forced it to suspend operations for three days.
The euro zone economy contracted marginally quarter-on-quarter in the third quarter, a new estimate confirmed on Tuesday underlining expectations of a technical recession if the fourth quarter turns out equally weak, but employment still rose.
Chinese companies are buying up U.S. chipmaking equipment to make advanced semiconductors, despite a raft of new export curbs aimed at thwarting advances in the country's semiconductor industry, a report said on Tuesday.
Semiconductor equipment maker Applied Materials (AMAT.O) is under U.S. criminal investigation for potentially evading export restrictions on China's top chipmaker SMIC, according to three people familiar with the matter.
Parts of the river Rhine in Germany have been closed to shipping because of a rise in water levels following recent heavy rain, German authorities said on Thursday.
CMA CGM said on Friday its profit fell in the third quarter as a COVID-era boom in shipping continued to fade, but its volumes picked up as a destocking trend in the United States was offset by brisk demand in other parts of the world.
The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the G7's price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine.
Insurance broker Marsh (MMC.N), Lloyd's of London (SOLYD.UL) insurers and Ukrainian state banks have launched a programme to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, Marsh said on Wednesday.
Germany's GDL train drivers' union said on Tuesday it would go on strike on Wednesday afternoon for 20 hours in the context of wage talks with rail operator Deutsche Bahn (DBN.UL).
Global sales of luxury goods will likely not grow significantly in the fourth quarter, with tourist flows to Europe key to spending there as local shoppers tighten their purse strings, consultancy Bain & company said.
U.S. Treasury Secretary Janet Yellen on Monday said negotiations on the trade section of the Indo-Pacific Economic Framework will need further work, a setback for the Biden administration which had hoped to announce substantial outcomes this week.
Japanese exports grew for a second straight month in October but at a sharply slower pace due to slumping China-bound shipments of chips and steel, as weakening external demand takes its toll on the trade-reliant economy.
U.S. electric car maker Tesla Inc (TSLA.O) is planning to double the number of components it imports from India, Indian trade minister Piyush Goyal said on Tuesday through a post on social media platform X.
The United Auto Workers (UAW) union said on Wednesday that about 3,900 of its members working at Mack Trucks ratified a new five-year contract, ending a month-long strike at the Volvo Group (VOLVb.ST)-owned company.
Japan's core consumer prices rose 3.2% in May from a year earlier, government data showed on Friday.
A group of small Brazilian companies announced on Thursday a scheme to certify Amazonian cattle processed for meat and leather have been reared without causing deforestation.
Brazil plans to expand its railway network with a 40 billion reais ($8 billion) fund that will be financed by removing discounts given to rail companies by previous government contracts, Transport Minister Renan Filho told Reuters.
Amazon.com (AMZN.O) is adding package tracking and return services for subscription members who use Buy With Prime, ahead of the holiday shopping season when it will face competition from new marketplaces including Shein and Tik Tok Shop.
U.S. pharma company Eli Lilly (LLY.N) plans to invest 2 billion euros ($2.17 billion) in a new plant in Alzey, western Germany, a source close to the negotiations told Reuters on Thursday.
Rivian Automotive (RIVN.O) said in a filing on Monday it signed agreements with the state of Georgia that will allow it to start building a planned electric-vehicle factory.
Australia is seeking more global investment in its rare earths sector to reduce strategic supply chain risks due to "geopolitical realities" that have built up over the last few years, the resources minister will say on Wednesday.
Chile's SQM (SQMA.SN), the world's second-largest lithium producer, saw more than $1 billion wiped from its market value on Thursday as investors reacted to a third quarter profit hammered by sliding prices of the key battery metal.
Europe will struggle to secure domestic supplies of vital battery mineral lithium due to permit delays and local opposition to projects, driving prices higher, Sibanye Stillwater (SSWJ.J) CEO Neal Froneman said on Tuesday.
Negotiators for EU governments and lawmakers reached a deal on Monday on targets for domestic supply of critical minerals such as lithium and nickel to reduce its reliance on third countries, principally China.
The United States and Indonesia on Monday will discuss how to advance a potential minerals partnership aimed a stimulating trade of the electric vehicle (EV) battery metal nickel, according to three people with direct knowledge of the conversations.
Oil prices dropped around 5% on Thursday to their lowest in four months, as investors worried about global oil demand following weak data from the U.S. and Asia.
Global oil markets are expected to be fairly balanced, with a slight surplus next year as demand and non-OPEC supply growth are exceeding expectations, the global head of research at Vitol (VITOLV.UL), the world's largest independent oil trader, said on Wednesday.
The U.S. Department of Energy on Wednesday announced up to $3.5 billion to strengthen domestic production of batteries and battery materials from the infrastructure law President Joe Biden signed in 2021.
Britain's Ocado Group (OCDO.L) has secured its first deal outside grocery retail to provide its robotic warehouse technology to a site of drug distributor McKesson Corp's (MCK.N) Canada unit, it said on Wednesday.
German carmaker BMW (BMWG.DE) said on Sunday it is seeking clarity on operations at a Moroccan cobalt mine following a newspaper report citing irregularities that breach labour and environmental laws.
British transport operator FirstGroup (FGP.L) said on Friday it will form a joint venture with Japan's Hitachi (6501.T) for leasing up to 1,000 electric bus batteries for about 100 million pounds ($123.9 million) as part of its fleet expansion plan.
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