The need to know
The need to know for the week ending 21st May 2021
The need to know from Reuters’ global network of journalists
Amazon.com Inc will give $100 more to new hires with proof of COVID-19 vaccination, the world’s largest e-commerce retailer said on Thursday, as part of its plan to employ 75,000 workers for fulfilment and logistics operations.
The global semiconductor chip shortage will cost automakers $110 billion in lost revenues this year, up from a prior estimate of $61 billion, consulting firm AlixPartners said, as it forecast the crisis will hit the production of 3.9 million vehicles.
Jim Farley, speaking at Ford’s online annual shareholder meeting, also said the company is weighing other strategies for the future, including building a buffer supply if chips and signing supply deals directly with the foundries that make the wafers used in semiconductors.
The United States faces stiff challenges as it moves to create its own electric vehicle supply chain, industry analysts say, with the extent of the country’s metal reserves largely unknown and only a few facilities to process minerals and produce batteries.
Tesla Inc is in talks with Chinese battery maker EVE Energy Co to add the firm to its Shanghai factory supply chain, four people familiar with the matter said, as it seeks to boost procurement of lower cost batteries.
It's typical of tin that it didn't make it onto the International Energy Agency's (IEA) list of metals needed to power the clean energy transition.
British online fashion retailer Boohoo has bowed to pressure from lawmakers to link multimillion pound bonuses for its executives to improvements in its supply chain, including workers' rights.
Gasoline shortages that have plagued the U.S. East Coast slowly eased on Sunday, with 1,000 more stations receiving supplies as the country's largest fuel pipeline network recovered from a crippling cyberattack.
Cisco Systems Inc on Wednesday cautioned that supply chain issues will linger through the end of 2021 and forecast its current-quarter profit below estimates, sending shares of the network gear maker down 5%.
Spanish telecoms group Telefonica is seeking buyers for its logistics and express-delivery unit Zeleris, a source familiar with the offer said on Monday, amid a months-long boom in the business as COVID-19 pushes people to shop online.
South Africa's Redefine Properties is accelerating an expansion into the logistics space in Poland and at home, its chief executive officer said after the company reported a 62.7% decline in half-year headline earnings on Monday.
The U.S. government relaxed a long-standing maritime law protecting domestic shipping commerce to allow an undisclosed company to transport gasoline and diesel to ports in the East Coast after a cyberattack crippled the nation's largest fuel pipeline network.
Domestic sales of gasoline and diesel by Indian state refiners plunged by a fifth in the first half of May from a month earlier as lockdowns to curb coronavirus infections hit industrial activities and consumption, preliminary data showed on Monday.
China’s JD.com Inc’s first-quarter revenue beat Wall Street estimates on Wednesday, as growth remained robust in the domestic e-commerce sector following the COVID-19 pandemic.
Germany's antitrust watchdog said on Tuesday it has launched a new investigation into whether U.S. ecommerce giant Amazon is exploiting its market dominance.
From elsewhere around the web:
No let up in West Coast growth as more ports report record volumes.[Port Technology]
Shipper group pressures Congress to clamp down on ocean carriers.[Freight Waves]
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