The need to know
The need to know for the week ending 31st July 2020
The need to know from Reuters global network of journalists
The U.S. Treasury said on Wednesday it has reached a deal with the U.S. Postal Service on the conditions of a loan of up to $10 billion that was included in recent coronavirus relief legislation.
Amazon will begin fast and free deliveries of groceries in London on Tuesday, with the aim of rolling out the service across the United Kingdom by the year-end as the coronavirus-driven lockdown boosted online sales of essentials.
At his veterinary practice near the French city of Lyon one morning in June, Gilles Renevier prepared to perform a castration on a poodle. When not attending to animals, he turns to his other role: attempting to neuter the expansion ambitions of Amazon.com Inc.
Investors’ penchant for prioritizing growth over profit at Amazon.com Inc will be put to the test on Thursday, when investors absorb the impact of second-quarter pandemic-related costs that could top $4 billion.
Shopify Inc (SHOP.TO) shares hit a record high on Wednesday after the Canadian company smashed quarterly revenue estimates, as the coronavirus-driven online shopping surge encouraged more brick-and-mortar businesses to list on its e-commerce platform.
United Parcel Service Inc (UPS.N) on Thursday topped Wall Street estimates for quarterly profit and revenue as the COVID-19 pandemic led to a surge in home deliveries and healthcare shipments.
Dubai-based global ports operator DP World has agreed to acquire a 60% stake in South Korea-based UNICO Logistics Co, DP World said in a statement on Monday.
France’s prime minister vowed on Monday to develop “railway highways” to carry food and other goods that now go by truck, part of a government push to reduce the country’s carbon footprint.
India’s rice exporters are struggling to fulfil orders due to limited availability of containers and workers at mills and the biggest handling port on the east coast after novel coronavirus cases jumped in the region, industry officials told Reuters.
A faster paced energy transition through a speedier shift to electric vehicles has created a new, substantial demand stream for aluminium and major opportunities for auto supply chain firms flying under investors’ radar.
Boeing Co (BA.N) slashed production of its biggest twin-engined jets, delayed its new 777X by up to a year and began sunsetting the iconic 747 as it posted a bigger-than-expected quarterly loss dominated by the COVID pandemic on Wednesday.
China’s economy is expected to recover steadily in the rest of the year, boosted by stimulus measures to reverse the damage from the coronavirus crisis, but weak global demand and rising Sino-U.S. tensions are key risks, a Reuters poll showed on Friday.
Export expectations in the manufacturing sector of Europe’s largest economy rose in July, with the automotive industry among the biggest winners, the Ifo institute said, in a boon for a sector that has been hit hard by the coronavirus pandemic.
Carrefour Brasil SA has seen the coronavirus pandemic accelerate sales growth, particularly in its e-commerce arm, a trend that is likely to persist in coming months as the retailer prepares to launch a new online platform, executives said on Tuesday, as stronger-than-expected quarterly results sent shares up almost 8%.
Albertsons Cos Inc ACI.N reported a 26.5% rise in quarterly same-store sales on Monday, but the grocer signaled weakening demand in the current quarter as consumers temper their spending on daily essentials as lockdown restrictions ease.
Spain’s furniture manufacturers say they are overwhelmed by demand after sales boomed at the end of lockdown in June, potentially erasing most of the year’s losses.
From elsewhere around the web
Dry bulk shipping rates slashed in half. [FreightWaves]
Report Shows COVID-19 Five Times More Disruptive Than Cyberattacks [Supply and Demand Chain Executive]