The need to know
The need to know for the week starting 6th January 2025
The need to know from Reuters’ global network of journalists
US East Coast dockworkers, employer group to restart talks next week
The International Longshoremen's Association and the United States Maritime Alliance (USMX) are set to resume contract talks on Jan. 7, according to a person familiar with the matter.
European shares, euro surge after report of more targeted US tariffs
European stocks and currencies rallied sharply on Monday after the Washington Post reported U.S. tariffs might be less aggressive than President-elect Donald Trump has previously threatened, injecting optimism into regional markets.
China proposes further export curbs on battery, critical minerals tech
China's commerce ministry has proposed export restrictions on some technology used to make battery components and process critical minerals lithium and gallium, a document issued on Thursday showed.
Maersk asks customers to remove cargo before potential strike at US ports
Shipping giant AP Moller-Maersk (MAERSKb.CO) has urged customers to pick up their laden containers and return the empty ones at the U.S. East and Gulf Coast ports before Jan. 15 to mitigate potential disruptions at the terminals on account of a strike.
Europe, Asia and U.S. factories end 2024 on weak footing as Trump 2.0 risks mount
Factory activity in Asia, Europe and the U.S. ended 2024 on a soft note as expectations for the new year soured amid growing trade risks from a second Donald Trump presidency and China's fragile economic recovery.
Cocoa tops global commodities rally for 2nd year, steel ingredients struggle on China demand
Cocoa and coffee are poised to close 2024 as the biggest gainers among commodities for a second year on a global supply deficit, while steel-making coal will end as the worst performer, hit by slow growth in China.
Amazon finishes higher despite Trump's new threat on shipping rates
The largest American business lobby group came to the defence of Amazon.com Inc on Tuesday after a multi-day Twitter attack by U.S. President Donald Trump that included unsubstantiated criticism of the world's biggest online retailer.
Mexico unveils new tariffs, popular e-tailers like Shein, Temu may be in crosshairs
Mexico's tax authority SAT issued new tariffs on Tuesday, which it said will strengthen the surveillance of goods from Asia, a measure that could impact popular online retailers like Shein and Temu.
Vietnam to scrap tax exemption for low-cost imports from Feb
Vietnam will abolish a duty exemption for low-cost imported goods from Feb. 18, the government said on Saturday, in a move targeted at e-commerce platforms.
UK lawmakers summon Shein and Temu for questioning over labour practices
Fast-fashion online retailer Shein, which is hoping to list in London, faces a UK hearing on Jan. 7 where a British parliamentary committee plans to question the firm, founded in China in 2008, about the rights of workers in its supply chain.
Mega retailers battle to survive as e-commerce booms in China
It took China's biggest retail chain Suning all last year to generate sales of about $17 billion. Last month, e-commerce giant Alibaba saw sales worth more than half that amount pass through its Tmall website in just one day.
Inside luxury goods' broken audit system
LVMH-owned Dior's production arm in Italy, Manufactures Dior, relied on formal inspections to assess working and safety standards inside its supply chain last year.
Airbus delivered about 760 jets in 2024, 10 short of annual goal, Bloomberg News reports
Airbus (AIR.PA) fell just short of meeting its annual delivery target for 2024 by handing over about 760 aircraft to customers, Bloomberg News reported on Thursday.
US considers potential rules to restrict or bar Chinese drones
The U.S. Commerce Department said on Thursday it is considering new rules that would impose restrictions on Chinese drones that would restrict or ban them in the United States citing national security concerns.
Threat of tariffs will loom large amid auto, tech glitz at CES
Auto and tech giants showing off their latest innovations at the CES trade show in Las Vegas next week can expect a barrage of questions on a topic that is usually not central to the consumer-focused event: tariffs.
US winter storms could cut natural-gas supplies
Freezing weather and snow storms across the U.S. could cause massive power outages and boost natural gas demand to its highest levels of the winter, according to energy analysts and reliability coordinators.
Ample supply, slow demand to temper oil price gains in 2025: Reuters poll
Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from China and rising global supplies are expected to cast a shadow on OPEC+-led efforts to shore up the market, a Reuters monthly poll showed on Tuesday.
Norway sovereign wealth fund makes $1.07 bln US real estate transaction
Norway's sovereign wealth fund said on Friday it had acquired a 45% stake in a portfolio of logistics properties in the United States from the Canada Pension Plan Investment Board in a new joint venture with Goodman Group for $1.07 billion.
Amazon must face part of online retailer's pricing lawsuit, US judge rules
Amazon.com has fallen short in its bid to dismiss a lawsuit that accused the e-commerce giant of hurting competition in the online superstore market, causing rival Zulily to lose sales and consumers to pay higher prices.
South Africa's Transnet half-year loss widens to $117 mln
South African state-owned logistics group Transnet on Tuesday reported a wider loss of 2.2 billion rand ($117.48 million) in the six months to Sept. 30 on higher costs and operational challenges.
China adds 28 US entities to export control list
China has added 28 U.S. entities to its export control list to "safeguard national security and interests", the commerce ministry said on Thursday.
China seeks to bolster ports and aviation hubs in western regions
China said on Sunday it would launch 15 measures to bolster the development of its western provinces with the construction of logistical infrastructure such as ports and aviation hubs.
China's 2025 iron ore imports set to hit new high even as steel demand dwindles
China's iron ore imports are likely to hit a new high in 2025 as traders stockpile cheap ore for the world's top consumer despite a protracted property crisis continuing to weigh on Chinese steel demand, traders and analysts said.
Chinese EV makers extend buying incentives as price war enters third year
Chinese electric vehicle makers including Nio and Li Auto have followed market leaders Tesla and BYD in extending buying incentives to the start of 2025, as a price war in the world's largest auto market continues for a third year.
Stellantis Italy output falls 37% in 2024, car production hits 68-year low
Vehicle production by car maker Stellantis (STLAM.MI) in Italy fell by 37% last year, hit in particular by a steep plunge in car manufacturing, union figures showed on Friday.
EV maker Rivian beats expectations for deliveries as supply snag eases
Rivian (RIVN.O) surpassed analysts' expectations for fourth-quarter deliveries on Friday and said its production was no longer constrained by a component shortage, a positive sign for the electric vehicle maker aiming to turn its first profit.
Mazda to build module pack plant in southwest Japan
Mazda Motor (7261.T) said on Monday that it will build a new module pack plant for automotive cylindrical lithium-ion battery cells in Iwakuni City in southwest Japan.
US new car sales rose to five-year high in 2024, helped by hybrids
U.S. new-car sales in 2024 continued to rise from their pandemic lows, bolstered by replenished inventories, higher incentives and surging demand for hybrid vehicles, automakers reported on Friday.