The need to know

The need to know for the week ending 22nd April 2022

The need to know from Reuters’ global network of journalists

U.S. firms beset by worker shortages and high inflation, Fed survey shows

The U.S. economy expanded at a moderate pace from mid February through early April and there was little respite for businesses from high inflation and worker shortages, a Federal Reserve report showed on Wednesday.

Union Pacific says track congestion hurting ability to meet demand

Union Pacific Corp (UNP.N) said on Thursday congestion on tracks was hurting its ability to meet shipping demand even as price hikes helped the U.S. railroad operator top market expectations for quarterly results.

South Africa says Durban port functional after flood devastation

South Africa's major port of Durban, where operations were disrupted by severe flooding last week, is now functional and a backlog of thousands of containers will be cleared within five to six days, the public enterprises minister said on Tuesday.

World Bank sees economies reducing dependence on Russia for energy, on China for supply chains

World Bank President David Malpass on Wednesday said he expects a "strong effort" by major economies to reduce their dependence on Russia for energy supplies and China for supply chains, although cross-border trade and investment flows would continue.

Ukraine war shows 'end of globalisation as we know it' - EU's Gentiloni

The war in Ukraine has shown the limitations of the decades-long German approach of seeking to change Russia through trade and spells the end of globalisation as we know it, the European Economic Commissioner Paolo Gentiloni said on Thursday.

Russia's war in Ukraine to blame for rising global food insecurity - Yellen

Russia's war in Ukraine is to blame for exacerbating "already dire" world food insecurity, with price and supply shocks adding to global inflationary pressures, U.S. Treasury Secretary Janet Yellen said on Tuesday.

China's supply chains must be stabilised, vice premier says

China's supply chains must be stabilised amid COVID-19 outbreaks, with local governments helping key companies get back to work, the official Xinhua news agency quoted Vice Premier Liu He as saying.

Semiconductor group ASMI sees higher second-quarter revenue after record Q1

Dutch semiconductor supplier ASM International (ASMI.AS) on Wednesday forecast a rise in second-quarter revenue after reporting record revenue and order intake in the first three months of 2022.

Column: Tin still flying high despite resurgent production

Global refined tin production surged by 11% to 378,400 tonnes last year, according to the International Tin Association (ITA).

Volkswagen focuses on regions to reduce supply chain vulnerability

Volkswagen (VOWG_p.DE) said on Tuesday that a new growth plan would aim to reduce its vulnerability to the effects of global conflicts, such as supply chain disruption and rising prices, by divesting more power to its regions and brands.

CEO steers electric truck startup Rivian through supply chain twilight zone

Rivian Automotive Inc (RIVN.O) CEO R.J. Scaringe needs to sell a lot more electric vans and pickup trucks to boost a beaten down stock price and fund his ambitious long-term growth plans, but the startup is having trouble buying the parts to build them.

EV parts maker Schaeffler signs first of a kind European rare earth deal

German auto parts supplier Schaeffler (SHA_p.DE) has signed a raw materials deal to ensure the supply of rare earth magnets from Europe for its burgeoning electric vehicle (EV) motor business, an executive told Reuters.

Analysis: Soaring battery costs fail to cool electric vehicle sales

Buyers around the world are lining up to purchase electric vehicles this year even with sticker prices surging, flipping the script on a decade and a half of conventional auto industry wisdom that EV sales would break out only after battery costs dropped below a threshold that was always just over the horizon.

In Shanghai lockdown, Carrefour staff sleeps at store to keep residents supplied

To prepare the 3,000-plus orders of vegetables, meat and essentials her Carrefour supermarket sends out every day to locked-in Shanghai residents, manager Zhang Wei wakes at 5 a.m. after a night in a sleeping bag on her office floor.

Brazil meat exporters face hurdles shipping product via COVID-hit Shanghai -lobby group

Brazil's ABPA, a lobby group representing large pork and chicken processors like JBS SA (JBSS3.SA) and BRF SA (BRFS3.SA), said on Wednesday its member companies are facing difficulties shipping products through the Port of Shanghai.

From elsewhere around the web:

Dover disarray: new P&O crews 'drunk and unpaid' and unions refused access. [the Loadstar]

Amazon vs. Walmart: How the Giants Look to Each Other to Best Each Other. [WSJ]

Will Supply Chain Issues Improve in 2022? There is Hope. [SDC Exec]

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