The need to know
The need to know for the week ending 15th April 2022
The need to know from Reuters’ global network of journalists
China's race to stop the spread of COVID-19 is clogging highways and ports, stranding workers and shutting countless factories - disruptions that are rippling through global supply chains for goods ranging from electric vehicles to iPhones.
Through most of the pandemic, Kent International, Inc couldn’t import enough Chinese-made bicycles to supply Walmart Inc (WMT.N) and its other big U.S. retail customers.
Countries around the world are working to diversify their supply chains and reduce their dependence on China, which is "probably good for everyone," World Bank President David Malpass said on Tuesday.
The COVID-19 pandemic wreaked havoc on global supply chains but new International Monetary Fund research shows that more diversification of source countries and inputs can significantly reduce the economic drag from supply disruptions.
Russia is bracing for a sharp decline in cargo flows and a deficit of containers after major international container shipping lines halted operations in the country due to Moscow’s military campaign in Ukraine, two Russian executives said.
The Port of Los Angeles, the nation’s busiest, on Tuesday reported record first-quarter volume as anxiety builds ahead of the July 1 expiration of the labor contract covering some 22,000 West Coast dock workers.
Residents of South Africa’s coastal province of KwaZulu-Natal were picking up the pieces on Thursday after one of the worst floods in recent history ravaged the area, killing more than 300 people and displacing hundreds.
Amazon.com Inc (AMZN.O) on Wednesday said it will impose an average 5% fuel and inflation surcharge on merchants to warehouse and ship their products in the United States, in response to rising costs.
German auto parts supplier Bosch on Tuesday said it has suspended production at two sites in the Chinese cities of Shanghai and Changchun as it follows government policies to contain a surge of COVID-19 cases.
Chinese electric vehicle (EV) maker Nio (9866.HK) said on Saturday it has suspended production after the country's measures to contain the recent surge of COVID-19 cases disrupted operations at its suppliers.
Automakers in China may have to suspend production in May if suppliers in Shanghai and surrounding areas are not able to resume work, He Xiaopeng, the chief executive officer of Chinese electric-car maker Xpeng (9868.HK), said on Thursday.
Semiconductor chip supply is unlikely to be enough to completely satisfy demand again until 2024, Volkswagen (VOWG_p.DE) Chief Financial Officer (CFO) Arno Antlitz said in an interview with German daily Boersen-Zeitung on Saturday.
General Motors Co (GM.N) said on Tuesday it would buy cobalt from miner Glencore PLC (GLEN.L) to use in its electric vehicles (EVs), as automakers around the world scramble to stock up on the critical raw material amid supply chain disruptions.
Some of the estimated 1,000 seafarers trapped in Ukraine have escaped, the International Labour Organization (ILO) and industry officials told Reuters, while voicing concern for those remaining trapped onboard ships or unaccounted for.
Prices for wind and solar power in major global markets have climbed nearly 30% in a year as developers have struggled with chaotic supply chains and surging costs for everything from shipping to parts to labor, according to a report published on Wednesday.
British food producers warned on Monday that perishable goods were losing their value due to congestion around the port of Dover caused by disruption to ferry services and customs operations.
A federal-state dispute over U.S. immigration policy heated up on Wednesday, as the White House lambasted Texas' governor over state inspections that have snarled truck traffic from Mexico, while Texas chartered a bus to carry migrants from the border to Washington.
Mexican truck drivers blockaded bridges at the U.S. border for a second day on Tuesday to protest an order by the Texas governor meant to increase safety inspections that has snarled traffic and led business groups to warn of supply chain disruptions.
CF Industries Holdings Inc on Thursday warned of delays in shipment of its nitrogen fertilizers, a week after Union Pacific mandated certain shippers to reduce the volume of private cars on its railroad.
Supply chain snags hammered first-half profit at ASOS (ASOS.L) and the British online fashion retailer warned its expectations for a much better second half could be disrupted by surging inflation.
European perfume- and cosmetics-makers face shortages of paper, glass, and some key oils and alcohols, as Russia's invasion of Ukraine adds further disruptions to the supply chains for beauty products, driving prices higher amid robust demand.
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