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
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.
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’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.
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.
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.
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.
Shares in U.S. delivery firm FedEx Corp shed more than 4% on Thursday after hiring difficulties tempered its 2022 earnings forecast.
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.
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.
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.
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.
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.
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.
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.
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:
How COVID variants could impact container and tanker shipping [Freight Waves]
Is micro-fulfilment tech living up to the hype? [Supply Chain Dive]
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