The need to know

The need to know for the week ending 10th July 2020

The need to know from Reuters global network of journalists

Maersk expands in-land logistics with customs broker acquisitionv

Maersk (MAERSKb.CO) said on Monday it had agreed to buy Sweden-based customs broker KGH Customs Services for 2.6 billion Swedish crowns ($281 million), as the container shipping group seeks to expand its end-to-end logistics services.

Djibouti ramps up efforts to get seafarers stranded by coronavirus off ships

Djibouti has carried out the first crew change of merchant sailors in its territory and is ready to get home more seafarers who have been stranded by the coronavirus, a senior port official said.

EU lawmakers agree to include shipping emissions in EU carbon market

European lawmakers agreed on Tuesday to include international carbon emissions from the maritime sector in the EU carbon market, targeting an industry that does not yet pay for its pollution.

Baltic index rises on higher demand for panamax vessels

The Baltic Exchange’s main sea freight index rose on Monday helped by stronger rates for panamax and supramax vessels which more than offset a decline in capesize demand.

State Dept warns top U.S. firms over supply chain risks linked to China's Xinjiangv

The U.S. State Department has warned top American companies including Walmart Inc(WMT.N), Apple Inc (AAPL.O)and Inc(AMZN.O) over risks faced from maintaining supply chains associated with human rights abuses in China’s western Xinjiang region, according to a letter seen by Reuters on Thursday.

Trump weighs executive orders on China, manufacturing, immigration, aide says

U.S. President Donald Trump is considering several executive orders targeting China, manufacturing and immigration, his chief of staff Mark Meadows told reporters at the White House on Monday, though he offered few details.

Top-performing U.S. equity funds this year are betting on a transformed world

U.S. equity funds that were able to best weather the global economic upheaval from the coronavirus pandemic this year are turning to healthcare, e-commerce and electric vehicle stocks as they look ahead to 2021.

Boohoo reviews British supply chain after factory report fallout

Boohoo (BOOH.L) commissioned an independent review of its supply chain in Britain on Wednesday after a damaging media report about dire factory working conditions put the brakes on the online fast fashion retailer’s meteoric rise.

EXPERT VIEWS-How can Britain stop fashion brands like Boohoo exploiting workers? E-tailers in India begin work to list 'country of origin' labels on products

Reports of labour exploitation at British garment factories that supply to online fast fashion retailer Boohoo have sparked debate about the role of brands and the government in protecting workers from wage theft, abuse and modern slavery.

Amazon pulls Washington Redskins merchandise from its site – CNBC Inc said it would pull a variety of Washington Redskins merchandise, including jerseys, t-shirts and jewelry, CNBC reported on Wednesday, citing a note from the e-commerce giant to sellers.

Amazon India's unit gets $308 million in fresh funds from parent Inc has invested 23.10 billion rupees ($308.02 million) in Amazon Seller Services, an Indian unit, strengthening the business at a time when more people shop online in a bid to avoid crowded public places.

Traffic at India's major ports falls 20% in June qtr due to lockdowns

Major ports in India, which handle more than half of the country’s seaborne trade, had a nearly 20% fall in traffic during the quarter ended June, the Indian Ports Association (IPA) said, as coronavirus lockdowns slowed economic activity.

Britain's Tesco demands supplier price cuts by July 10 – source

Tesco, Britain’s biggest supermarket group, has given suppliers until July 10 to agree price reductions as it prepares to step-up its price battle with discounters Aldi and Lidl, an industry source told Reuters.

Deutsche Post shares jump after strong results

Shares in German logistics group Deutsche Post AG (DPWGn.DE) jumped on Wednesday after it reported a 16% rise in second-quarter operating profit and said it would pay its employees a bonus for their efforts during the coronavirus crisis.

British high street reeling as another 5,000 jobs go

Two of the biggest names on the British high street said they would cut more than 5,000 jobs on Thursday after conceding that customers were unlikely to return to their old ways after the COVID-19 crisis upended retail.

U.S. weekly jobless claims stay elevated; labor market improvement stalling

Weakening demand and a resurgence in new COVID-19 cases are keeping new U.S. applications for unemployment benefits extraordinarily high, suggesting the labor market remains fragile despite record job growth in June.

From elsewhere around the web

Logistics Services Race Intensifies In ASEAN. [The ASEAN Post]

US-to-Canada truck crossings hit pre-COVID level. [FreightWaves]

New USMCA trade deal could increase demand for near-shoring. [The Loadstar]

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