The need to know

The need to know for the week ending 29th October 2021

The need to know from Reuters’ global network of journalists

U.S. companies to keep prices high as supply chain headaches persist

The largest U.S. manufacturers including General Motors, General Electric, 3M and Boeing face logistics headaches and higher costs due to global supply bottlenecks that are likely to persist into next year but agreed the hit to profits can be mitigated by charging higher prices for their goods.

Sharing data is key to reducing supply-chain disruptions, Renault exec says

Automakers have a lot of data they can share with suppliers, logistic partners and governments to help reduce supply-chain disruptions, Renault alliance group's VP of supply chain, Jean-Francois Salles, said on Thursday.

Amazon bulks up shipping capacity to battle holiday season snarls Inc said on Monday it had doubled its container processing capacity and secured more shipping storage from ocean freight carriers to try to overcome supply chain bottlenecks in time for the holiday shopping season.

'Containergeddon' drives sugar, rice shippers back to bulk vessels

Food traders are switching from containers back to dry bulk vessels to transport refined sugar and rice, hoping to avoid shipping delays caused by container shortages and port congestion that the industry is calling “containergeddon”, according to traders.

U.S. Republicans say fixing supply chain is more urgent than social spending

A group of 160 Republican lawmakers said addressing supply chain woes that have dramatically slowed the manufacture and shipment of goods around the United States must be fixed before considering new spending on social programs, according to a letter sent to President Joe Biden on Wednesday.

Japan to focus on supply chain chokepoints in security push -official

Japan's economic security strategy will focus on two pillars of "strategic autonomy and indispensability," a top ruling party official said on Saturday, as the nation faces an increasingly assertive China.

UK retail sales pick up, but supply shortages hit new record-CBI

British retailers reported a stronger-than-expected sales rise in October after a September slowdown but global supply chain problems reduced their stocks to the lowest level since records began in 1985, the Confederation of British Industry said.

Biden heads to G20 to talk energy prices, supply chain woes

President Joe Biden, hoping to signal U.S. re-engagement with allies after four years of Donald Trump's "America First" policies, heads to a meeting of G20 leaders in Europe this week to discuss energy prices, the Iranian nuclear program and supply chain issues, U.S. national security adviser Jake Sullivan said on Tuesday.

UPS profit rises ahead of peak holiday season

United Parcel Service Inc reported better-than-expected quarterly profit and revenue on Tuesday, bolstered by strong e-commerce demand that has driven the delivery giant to raise shipping rates and cherry-pick more profitable customers.

Rising fuel prices untenable for German transport companies, logistics lobby says

Rising energy prices are leaving German transport companies at risk of collapse, the country's logistics association BGL said on Thursday, and it called on government to step in with support for the sector.

Few options for G7 trade chiefs to alleviate supply pinch

Trade chiefs from the world's wealthy industrial democracies will seek on Friday to address worsening supply chain woes that are fuelling inflation and inhibiting growth, but trade experts say they have few options for a rapid fix to problems driven by market forces.

Shipping drifts off net-zero course without carbon levy -study

The global shipping industry is on course to see its greenhouse gas emissions rise by around a fifth by 2050 if action including introducing a carbon levy on fuel is not taken, new research backed by industry leaders shows.

Nigerian start-ups digitise local food supply chain

Nigerian start-ups are digitising the local food supply chain, helping merchants navigate high food costs and farmers sell their produce.

Global supply chain logjams, costs in focus as restaurant chains report earnings

Investors hope to gauge the impact of the global supply-chain logjam on restaurant expansion plans when McDonald's Corp, Starbucks Corp and Yum Brands Inc report capital expenditures in their earnings this week.

From elsewhere around the web:

The shortages hitting countries around the world. [BBC]

Alibaba is ramping up in Europe, and is already ahead of Amazon in one region. [CNBC]

GE diversifies sourcing, adds factory capacity to battle shortages. [Supply Chain Dive]

Port Congestion Pushes San Pedro Bay Ports to Start Surcharge. [SDC Exec]

Port of Seattle becomes the latest casualty of container congestion. [The Loadstar]

China sees near 10% container throughput increase. [Port Technology]

Why is reducing emissions in freight so hard? [Freight Waves]

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