The need to know
The need to know for the week ending 1st July 2021
The need to know from Reuters’ global network of journalists
Stretched global supply chain means shortages on summer menus
At least nine fast-food chains and restaurant companies surveyed by Reuters said some of their locations have been grappling with changing lists of brief shortages of key ingredients and products, as supply bottlenecks plague eateries.
Britain could face food shortages due to lorry driver crisis
Britain could face gaps on supermarket shelves this summer and an “unimaginable” collapse of supply chains after the pandemic and Brexit led to a shortage of more than 100,000 truck drivers, industry leaders have warned.
Fed's Quarles says supply chain imbalances boosting inflation are transitory
The supply chain imbalances and higher demand currently leading to higher inflation are transitory and the U.S. Federal Reserve has the tools to respond if inflation remains elevated for longer than anticipated, Fed Vice Chair for Supervision Randal Quarles said on Monday.
China June factory growth slows on COVID-19, supply chain snags
China’s factory activity expanded at a softer pace in June, as the resurgence of COVID-19 cases in the export province of Guangdong and supply chain woes drove output growth to the lowest in 15 months, a private survey showed on Thursday.
UK factories ride demand boom, price pressures hit record
Britain’s factories extended their post-lockdown recovery in June and ramped up hiring, but they also faced record inflation pressures due to supply chain problems caused by the coronavirus pandemic, a survey showed on Thursday.
S.Korea's factory activity expands for 9th month; supply chain disruption adds strains
South Korea’s factory activity extended growth into a ninth month in June thanks to improving global demand, though record input and output price rises pointed to strains on manufacturers amid supply-chain disruptions and escalating raw material costs.
UK car output halved as chips shortage bites
British automotive production more than halved in May compared with the same month in 2019, before the coronavirus pandemic, as a global shortage of semi-conductors and other components continued to weigh on car plants.
Brazil's JBS brings forward goal of eliminating deforestation in supply chain
Brazilian meat company JBS SA , the world’s second largest food producer, said on Wednesday it aims to eliminate illegal deforestation from its supply chain by 2025, moving up its previous goal for doing so by five years.
FedEx shares fall as labour woes weigh on 2022 outlook
Shares in U.S. delivery firm FedEx Corp shed more than 4% on Thursday after hiring difficulties tempered its 2022 earnings forecast.
SoftBank-backed ShipBob raises $200 mln in Bain-led round, turns unicorn
Cloud-based logistics platform ShipBob said on Tuesday it had raised $200 million in a late-stage funding round led by Bain Capital Ventures that more than doubled its valuation, lifting it to unicorn status.
Chinese grocery apps risk spoiling early
The online grocery party in China is already going bad. Missfresh shares plunged 26% on their New York debut, a worrying sign for rival Dingdong Maicai’s upcoming listing.
DP World acquires logistics firm Syncreon in $1.2 bln deal
Dubai state-owned port operator DP World said on Thursday it had acquired U.S.-based global logistics firm Syncreon for an enterprise value of $1.2 billion.
Freight forwarder Hellmann to use drones to beat backed up supply chains
Leading German freight forwarder Hellmann will start using unmanned planes operated by Bulgaria's Dronamics from next year to speed up deliveries of vital goods in Europe and work around stretched supply chains, executives involved say.
Zalando to set up logistics site in France, creating 2,000 jobs, Elysee says
German online fashion retailer Zalando will invest 300 million euros ($358 million) in a new logistics site in France that will lead to the creation of 2,000 jobs, the French presidential palace said on Monday.
Shipping, heating and cars targeted in EU carbon market revamp
The European Union wants to overhaul its carbon market to cut planet-warming emissions faster and put a price on pollution from shipping, road transport and heating systems in buildings, a draft document seen by Reuters on Wednesday shows.
EU steers shipping towards carbon trading market to curb emissions
Ship owners could be forced to pay for pollution from their vessels or face bans from European Union ports under draft plans to add shipping emissions to the bloc's carbon market.
Thailand's booming autos exports help plug gaping tourism hole
As tourism-reliant Thailand struggles with a collapse in foreign visitors, the country's auto sector is picking up some of the slack with the value of car exports tipped to surge to a record this year as the global economy reopens.
From elsewhere around the web:
The untold story of the big boat that broke the world. [Wired]
Lorry driver shortage threatens Haribo sweets. [BBC]
Lumber prices dive more than 40% in June, biggest monthly drop on record. [CNBC]
Nissan announces major UK electric car expansion. [BBC]
Satellite images show backlog of containers awaiting export at Port of Yantian after Covid outbreak. [CNBC]
How COVID variants could impact container and tanker shipping. [Freight Waves]
'I paid ridiculous charges, my cargo still got rolled and the carrier wanted more'. [The Loadstar]
Is micro-fulfilment tech living up to the hype? [Supply Chain Dive]
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