The need to know
The need to know for the week ending 26th November 2021
The need to know from Reuters’ global network of journalists
Troubled by supply chain woes, German firms diversify and relocate - DIHK
More than half of German companies doing business abroad are suffering severe problems in their supply chains or logistics, pushing them to diversify suppliers, shorten delivery routes and even relocate their own production, a survey showed on Tuesday.
Analysis: Made in Canada: Factories see silver lining in supply chain woes
Global shipping and supply chain bottlenecks are encouraging Canadian firms to bring production back home, but some companies would have to absorb higher costs and build expertise in certain sectors for local manufacturing to pick up pace.
From fire to floods, climate change hits Canada's fragile supply chain
The massive rains that unleashed floods and mudslides in the Canadian province of British Columbia exposed the country’s supply chain vulnerability as crucial railways and roads were severed from the country's biggest port.
Alcohol and auto parts: Canada's warehouses fill up as floods stop flow of goods
Canada’s warehouses are filling up with everything from furniture to alcohol, after floods in British Columbia washed out critical rail and road lines, disrupting already strained supply chains.
EU says chips policy aim is to ensure resilient supply chain
The European Union's policy on state aid for the production of semiconductors will seek to avoid a subsidy race, and companies must aim for diversification to ensure a robust supply chain across the bloc, the European Commission said on Thursday.
Gap cuts annual forecast amid supply chain woes, shares slide 19%
Gap Inc (GPS.N) lowered its full-year forecast on Tuesday, with the apparel retailer expecting an up to $650 million hit to revenue amid supply chain disruptions that include factory closures in Vietnam and pricey air freight to ship goods.
Soaring lithium prices spur changes in supply contracts
Lithium consumers in the electric vehicle battery supply chain are seeking longer-term contracts with producers to secure supplies for as long as possible in a market where shortages have propelled prices to their highest in three years.
Emirates cargo boss says supply chain constraints could stretch beyond 2022
Global supply chain constraints will continue to hit freight movers until at least the end of next year and could stretch beyond 2022 as logistics companies struggle with labour shortages amid booming demand, Emirates' cargo boss said.
Nordstrom warns of supply shortages as holiday season approaches, shares plunge
Nordstrom Inc (JWN.N) said labour costs pinched its quarterly profit and warned of product shortages at its off-price stores heading into the holiday season, sending its shares down 23% in extended trading on Tuesday.
Alibaba slashes sales outlook as competition bites, demand slows
Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK), slashed its forecast for annual revenue growth on increased competition and a regulatory crackdown, sending its stock tumbling 11%
Prada expects to join Richemont-Farfetch talks over online tie-up
Italian fashion group Prada expects to join talks between Cartier-owner Richemont (CFR.S) and online retailer Farfetch (FTCH.N) about launching a joint e-commerce platform as it seeks to boost online sales and grow overall revenues by 40%.
Applied Materials sales forecast misses estimates on supply chain woes
Applied Materials Inc (AMAT.O) forecast first-quarter sales and profit below market estimates on Thursday, as chip shortages slowed the supply chain of the world's biggest maker of tools for making chips.
Singapore's Mapletree Logistics flags $513 million fundraising to buy Asia properties
Mapletree Logistics Trust said on Tuesday it was launching an equity fundraising of S$700 million ($513 million)through a private placement and preferential issue of units to finance acquisitions of properties in Vietnam, China and Japan.
China stocks extend gains, lifted by property and logistics
China shares extended gains and ended higher on Friday, thanks largely to sharp rises in the property and logistics shares.
CMA CGM's earnings soar on shipping rush
Shipping group CMA CGM on Friday reported a surge in third-quarter earnings and said it expected an even stronger performance for the end of the year as intense demand kept freight rates high and container capacity stretched.
Winter weather, west U.S. port labour talks are wild cards in shipping- Hapag Lloyd
The shipping industry may face unexpected risks from labour negotiations in western U.S. ports and winter weather in the northern hemisphere over the next few months, the head of German container firm Hapag-Lloyd (HLAG.DE) said on Thursday.
Logistics woes threaten ethanol supply needed for gasoline
Supply chain snags are threatening to hamper deliveries of ethanol needed for blending with gasoline ahead of the Thanksgiving weekend, according to ethanol traders and producers.
From elsewhere around the web:
California port truckers ‘drowning’ in supply chain inefficiencies. [Freight Waves]
Why the chip shortage drags on and on… and on. [Ars Technica]
Supply Shortages Are Easing in U.S. and Worsening in Europe. [Bloomberg]
Where’s my order? Tracing one container through a broken global supply chain. [LA Times]
Walmart Launches Drone Delivery. [SDC exec]
Air freight rates rise into US – but mixed messages from other lanes. [The Loadstar]
Trucking's role in untangling the web of West Coast port congestion. [Supply Chain Dive]
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