The need to know
The need to know for the week ending 20th August 2021
The need to know from Reuters’ global network of journalists
Nando's shuts over 40 UK outlets due to supply chain hit
Fast-food chain Nando's has been forced to temporarily close more than 40 outlets in Britain, around 10% of its restaurants, after staff shortages hit its chicken supply chain in the latest blow to the country's hospitality sector.
Cisco's profit forecast disappoints on supply chain overhang
Cisco Systems Inc's (CSCO.O) first-quarter profit forecast fell short of estimates on Wednesday, with the network gear maker warning that supply chain issues would continue to drive up component costs and delivery backlogs.
Toyota slashes September output amid chip crunch, COVID resurgence
Toyota Motor Corp (7203.T) said it will slash global production for September by 40% from its previous plan, becoming the last major automaker to cut output due to a global chip crunch, but it maintained its annual sales and production targets.
Nearly all small UK manufacturers face costs headache – survey
Nearly all small British manufacturers are struggling with rising costs, according to a survey on Thursday that showed widespread worries over recruitment and logistics caused by the COVID-19 pandemic and Brexit.
U.S. homebuilding stumbles amid unrelenting supply constraints
U.S. homebuilding fell more than expected in July, the latest sign that surging construction costs and home prices continued to constrain the housing market early in the third quarter.
Top U.S., South Korean trade officials discuss supply chain resiliency -USTR
U.S. Trade Representative Katherine Tai and South Korean Trade Minister Yeo Han-koo on Thursday discussed supply chain resiliency efforts, tackling climate change, and reform of the World Trade Organization, the USTR said in a statement.
UK's McBride warns 'exceptional' cost rises to hammer 2022 profit
Cleaning products maker McBride (MCB.L) said on Thursday "exceptional price increases" in raw materials as well as a lack of lorry drivers would push fiscal 2022 profits down by as much as 65%, sending its shares tumbling 17%.
Port, shipping firms divert vessels after a Ningbo terminal shuts
Ports and shipping companies are diverting vessels from a container terminal in China's busiest marine transportation hub which was forced to close after a coronavirus case emerged, as the pandemic strains global supply amid rising retail orders.
Chinese ports choke over 'zero tolerance' COVID-19 policy
Several Chinese ports are facing congestion as vessels due to call at Ningbo are being diverted and cargo processing is slowed partly due to stricter disinfection measures under China's "zero-tolerance" coronavirus policy.
U.S. import price increases slow in July
U.S. import prices increased less than expected in July, a sign that inflation pressures may have peaked as supply chain bottlenecks that have impacted the U.S. economy start to wane.
Deutsche Post to acquire sea freight forwarder Hillebrand for $1.8 billion
Deutsche Post said on Tuesday it was acquiring ocean freight forwarder J.F. Hillebrand Group for 1.5 billion euros ($1.8 billion) in cash, as part of a strategy to strengthen its core logistics operations.
Power outage hits S.Africa's coal export terminal at Richard's Bay
A power outage in South Africa’s main coal export terminal Richards Bay has forced state-owned logistics monopoly firm Transnet to delay offloading of trains for 10 hours, the company said on Friday.
Maersk signs first green methanol deal in step towards dropping fossil fuels
A.P. Moller-Maersk (MAERSKb.CO) said on Wednesday it had signed a contract securing green methanol as the world's largest shipping firm gears up to operate its first carbon-neutral ship in 2023.
Brexit has 'significantly altered' Irish-British freight traffic, report finds
Post-Brexit trade frictions have "significantly altered" freight traffic between Ireland and Britain and sparked a steep rise in volumes to and from Ireland and other European Union members, an Irish government agency report said on Thursday.
Ryder will manage Waymo autonomous truck fleets
Truck fleet operator Ryder System Inc will manage and maintain autonomous trucks for Waymo Via, the autonomous truck unit of Google parent Alphabet Inc, the companies said on Wednesday.
Major container ports in eastern China see worsening congestion after COVID cases
Congestion off China's top two container ports Shanghai and Ningbo is worsening following the shutdown of a container terminal in Ningbo where a COVID-19 case was detected this week.
Japan's exports extend gains, machinery orders fall amid fragile recovery
Japan's exports marked a fifth straight month of double-digit growth in July, driven by U.S.-bound shipments of automobiles in a positive sign for a trade-led economy, although a key gauge of capital spending fell for the first time in four months.
From elsewhere around the web:
Tight ocean market, peak preparations drive strong demand for airfreight. [Supply Chain Dive]
The chip shortage is getting worse. [VOX]
Los Angeles’ empties exports soar amid rising trade disparities. [Port Technology]
Supply chain ‘anarchy’ is gold mine for ocean carriers like ZIM. [Freightwaves]
Pandemic rules bring China air cargo chaos as ground staff quit and rates soar. [The Loadstar]
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