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

U.S. Treasury makes $10 billion loan available to postal service as part of coronavirus relief

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 steps up challenge in UK grocery delivery

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.

Anti-Amazon campaigners in France team up to say 'non' to firm’s expansion

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 Inc.

Will investors look past Amazon's COVID-19 e-commerce costs?

Investors’ penchant for prioritizing growth over profit at 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 shares at record high as online boom attracts more merchants

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.

UPS profit beats on e-commerce surge, shares jump

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.

DP World to acquire 60% of Korea's UNICO Logistics

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 to launch 'railway highways' in push for greener economy

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.

Indian rice exports slow as coronavirus disrupts supply chain: trade

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.

Auto parts makers shine spotlight on aluminium's role in electric vehicles

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 slashes jet output, eyes factory shake-up as COVID-19 hammers sales

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 seen growing 2.2% in 2020, weak demand, U.S. tensions cloud outlook: Reuters poll

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.

German car sector among biggest winners as export expectations pick up: Ifo

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 sees e-commerce further accelerating, plans to launch new platform

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 signals slowing demand after lockdown boost

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.

Get me a sofa! Spain sees post-lockdown furniture boom

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

Retailers urged to drop Chinese supply chain over forced labour concerns [Retail Gazette]

Dry bulk shipping rates slashed in half. [FreightWaves]

Report Shows COVID-19 Five Times More Disruptive Than Cyberattacks [Supply and Demand Chain Executive]

Rival air cargo booking platforms expand to keep pace with demand [The Loadstar]

Maersk to charge fee starting in September for shippers manually booking, amending documents [SupplyChainDive]

comments powered by Disqus