The need to know
The need to know for the week ending 4th May 2021
The need to know from Reuters’ global network of journalists
A rapidly spreading COVID-19 outbreak has left factories operating below capacity in Vietnam's industrial northern provinces, where suppliers for Apple, Samsung and other global tech firms are located, industry sources said.
Factory activity powered ahead in Europe last month and stayed strong in Asia as demand grew, surveys showed, but rising raw material costs and supply bottlenecks posed a headache for business and weighed on the recovery in export-driven economies.
Intel Corp’s CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas, including consumer electronics.
The Biden administration on Friday said it was working to identify targeted actions the government or industry can take to address supply chain constraints in residential construction.
Farm machinery makers in France, the European Union’s biggest agricultural producer, plan to raise their prices this year to cope with surging raw material costs and scarce components during a boom in demand, an industry group said on Thursday.
U.S. manufacturing activity picked up in May as pent-up demand amid a reopening economy boosted orders, but unfinished work piled up because of shortages of raw materials and labour.
The price of Tesla vehicles is increasing due to supply chain pressures across the auto industry, particularly for raw materials, Elon Musk said on Monday in response to a tweet.
The head of Europe's Airbus urged suppliers to prepare industrially and financially for steep increases in jet output floated earlier on Thursday, and said the industry was returning towards pre-crisis trends for its most popular airplanes.
Thai logistics startup Flash Group on Tuesday reported its latest round of fundraising had generated $150 million, which it said pushed its overall value beyond the $1 billion mark, reflecting a surge in e-commerce demand.
Russian internet giant Yandex on Monday said it had agreed to buy online fashion retailer KupiVIP on undisclosed terms to enhance its Yandex.Market e-commerce offering.
Carbon emissions produced from seaborne coal exports stayed steady last year despite the impact of the coronavirus on consumption, a study showed on Wednesday, although the sector faces growing environmental scrutiny.
Trade ministers from the Group of Seven (G7) wealthy nations criticised countries who undermine the global trading system and called for democratic states to rally behind reforms of the international trade rulebook.
Digital freight start-up Sennder on Tuesday said it had raised a further $80 million from investors to expand its business, having decided against going public via a merger with a listed blank-cheque company.
From elsewhere around the web:
Reshoring Could Add $443B to the US Economy.[SDC Exec]
Daimler Trucks is short of workers across the board, CEO says.[Freight Waves]
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