The need to know

The need to know for the week ending 25th February 2022

The need to know from Reuters’ global network of journalists

As sanctions start, Russia's trade flow shifting towards China
The United States is poised to unleash a wider array of sanctions against Russia if Moscow escalates the conflict in Ukraine, denying key Russian financial institutions and companies access to U.S. dollar transactions and global markets for trade, energy exports and financing.

U.S. companies grapple with surging costs as supply chain problems persist

Dave Petratis boosted wages for his U.S. factory workforce in December - six months ahead of schedule for normal annual increases.

Nestle temporarily close factories, warehouses in Ukraine

Food group Nestle said it has temporarily closed its factories, warehouses and supply chain in Ukraine following the Russian invasion.

Chipmakers see limited impact for now, as Russia invades Ukraine

Large chip companies said they expected limited supply chain disruption for now from the Russia-Ukraine conflict, thanks to raw material stockpiling and diversified procurement, but some industry sources said there could be an impact longer term.

Small businesses still struggling financially, Fed survey finds

Small businesses continue to struggle financially and many are facing greater challenges with managing supply chain challenges and hiring enough workers, according to a survey released Tuesday by the Federal Reserve.

Raytheon says it may not ship around 70 engines to Airbus in first quarter

Raytheon Technologies Corp (RTX.N) said on Wednesday its Pratt and Whitney unit may not ship around 70 engines to Airbus SE (AIR.PA) in the first quarter of 2022 due to casting shortages.

Hermès makes a virtue of supply-chain bottlenecks

Hermès International is putting a positive spin on supply-chain problems. The $150 billion French luxury group on Friday reported that sales in its leather goods division dropped 5% year-on-year in last three months of 2021. 

White House unveils more steps to strengthen U.S. supply chains

The White House on Thursday announced 10 new steps as part of its year-long drive to strengthen U.S. supply chains against climate shocks and geopolitical tensions, and ensure that China or others cannot weaponize supply chains against the United States.

GE warns of profit hit in first half from supply and labour issues

General Electric Co warned on Friday that a supply chain logjam coupled with a labour crunch and inflation will pressure profits through the first half of the year.

Spanish exports top pre-pandemic levels despite Brexit, supply chain
Exports of Spanish goods soared 21.2% last year to surpass pre-pandemic levels despite global supply chain problems and the impact of Brexit, although Spain’s trade deficit nearly doubled due to soaring energy prices, customs data on Thursday showed.

Biden team seeks port revival plans as it spends infrastructure cash

The Biden administration is looking for projects to revamp U.S. ports as it ramps up spending from the $1 trillion infrastructure bill.

British warehouse group Segro rides surge in 'q-commerce' demand

British warehousing group Segro (SGRO.L) said on Friday the growing popularity of rapid delivery e-commerce- known as "q-commerce" - was driving strong demand for warehouse space in European cities as its annual profit jumped 20%.

Jumia Technologies eyes free shipping, logistics service to boost income

African e-commerce firm Jumia Technologies will offer more free shipping of goods to its customers in selected locations to boost usage this year, it said on Wednesday.

GXO bets on e-commerce with $1.3 billion offer for UK peer Clipper
U.S.-based supply chain company GXO Logistics has agreed a potential deal to buy Britain’s Clipper Logistics for around $1.3 billion, betting on the lucrative e-commerce market and rising demand for warehouse space globally.

Traders see inflation as 2022's biggest market mover – survey

Inflation will have the biggest impact on global markets in 2022, traders said, while liquidity was the top daily trading challenge for a sixth year, according to an annual survey of institutional trading clients by JPMorgan published on Wednesday.

Key events in Canada's trucker protests against COVID curbs

Canadian police on Saturday used pepper spray and stun grenades in an attempt to restore normalcy in Ottawa, parts of which have been paralyzed by protesters opposing the government's pandemic restrictions.

From elsewhere around the web:

Postal Service courts small shippers with next-day local delivery service. [Supply Chain Dive]

Supply chain whack-a-mole: West Coast eases, East Coast worsens. [Freight Waves]

US truckers plan copycat anti-jab rule protest to choke Washington traffic. [The Loadstar]

Shipping lines to strengthen East Africa-Asia connection. [Port Technology]

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