The need to know

The need to know for the week ending 30th October 2020

The need to know from Reuters' global network of journalists

China's carmakers seek more government support for smart car supply chain

China’s auto industry has called for more government support and tie-ups between auto and tech companies on technologies, such as software and semiconductors, to make the country’s smart car supply chain more self-sufficient.

'It'll be carnage': British companies dread a Brexit border breakdown

Deal or no deal, British companies will have to confront a wall of bureaucracy that threatens chaos at the border if they want to sell into the world’s biggest trading bloc when life after Brexit begins on January 1.

UPS beats profit expectations but shares sink on e-commerce margin squeeze

United Parcel Service Inc's UPS.N quarterly profit beat expectations on Wednesday, but shares sank 5.5% as investors fretted over a margin squeeze from pandemic-fueled e-commerce deliveries.

Shopify to partner with TikTok in bid to woo more merchants to site

Canadian e-commerce company Shopify said on Tuesday it will partner with TikTok to help its one million-plus merchants more easily advertise their products on the video-sharing app, as it looks to grow its customer base.

Cargill looks to use wind to cut carbon in shipping

Cargill, one of the world’s biggest charterers of ships, is working with technology partners to fit sails on vessels in its fleet to cut carbon emissions through harnessing wind power, the U.S. agribusiness group said on Wednesday.

Arctic headache for ship insurers as routes open up

As climate change opens new sea routes, experienced polar captains like Whatley are coveted for Arctic voyages that can save money on the run between Europe and Asia.

Container lines expect U.S. import binge to lose steam

Surging shipments into the United States are fueling record high freight costs and logjams at seaports, but transportation executives say the rally will lose steam with a second wave of COVID-19 restrictions on the cards.

DP World set for 'relatively stable financial performance' this year, chairman says

International port operator DP World is on track to report a “relatively stable financial performance” this year after the recording a 3.1% increase in third-quarter shipping container volumes, its chairman said on Monday.

Apple supplier Luxshare unnerves Foxconn as U.S.-China feud speeds supply chain shift

Apple's AAPL.O top iPhone assembler, Taiwan-based Foxconn, has set up a task force to fend off the growing clout of Chinese electronics manufacturer Luxshare, which it believes poses a serious threat to its dominance, three sources with knowledge of the matter said.

Exclusive: Biden campaign tells miners it supports domestic production of EV metals

Joe Biden’s campaign has privately told U.S. miners it would support boosting domestic production of metals used to make electric vehicles, solar panels and other products crucial to his climate plan, according to three sources familiar with the matter, in a boon for the mining industry.

Lost in translation: Amazon website launch trips over faulty Swedish Inc’s long-awaited launch of its Swedish website on Wednesday was marred by glitches and translation errors, including mistaking the Argentinian flag for Sweden’s.

EBay beats quarterly profit estimates, forecasts current-quarter sales above expectations

EBay Inc's EBAY.O quarterly profit topped Wall Street expectations on Wednesday and the e-commerce company forecast fourth-quarter sales above estimates, as people staying at home due to the COVID-19 pandemic took to online shopping.

Analysis: As COVID persists and U.S. election nears, China growth lifts Asia

Asia is starting to see signs of economic recovery as it rides on the back of an upturn in China, which is entering a new expansion phase less than a year after it recorded the world’s first cases of COVID-19.

Tata Motors sees better second half even as it prepares for hard Brexit

India’s Tata Motors Ltd forecast a stronger second half on Tuesday as sales of its Jaguar Land Rover (JLR) vehicles improved in key markets even as it continued to grapple with the COVID-19 pandemic and uncertainties over a hard Brexit.

From elsewhere around the web

How COVID-19 changed warehouse management and design.[Supply Chain Drive]

Retailers eye online sales boom in 'the first truly digital Christmas'.[The Loadstar]

Pharma must engage with supply chain players for a successful vaccine roll-out.[The Loadstar]

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