The need to know
The need to know for the week ending 6th May 2022
The need to know from Reuters’ global network of journalists
Global supply chain problems look to set to worsen, a new report published on Tuesday said, as China's COVID-19 lockdowns, Russia's invasion of Ukraine and other strains cause even longer delays at ports and drive up costs.
Over the last two years a series of unexpected events has scrambled global supply chains. Coronavirus, war in Ukraine, Brexit and a container ship wedged in the Suez Canal have combined to delay deliveries of everything from bicycles to pet food.
Volkswagen, Europe's top carmaker, on Wednesday stuck to its outlook for 2022, shrugging off supply chain disruptions caused by the war in Ukraine and the pandemic by drawing on its global production network.
Canada is talking to a number of companies interested in setting up production in the electric vehicle (EV) supply chain, the industry minister said, as the government seeks to cut carbon emissions to net zero by 2050 and play a role in the shift toward greener cars.
Apple Inc on Thursday forecast bigger problems as COVID-19 lockdowns snarl production and demand in China, the war in Ukraine dents sales and growth slows in services, which the iPhone maker sees as its engine for expansion.
The U.S. solar industry is warning of a big slowdown in project installations this year as global supply chain disruptions and the threat of new U.S. tariffs on panel imports from Southeast Asia hit home.
EBay Inc (EBAY.O) on Wednesday became the latest e-commerce retailer to give a gloomy revenue forecast as growth slows in the sector after two years of rapid expansion during the pandemic, sending its shares down 6% in extended trading.
Airbus (AIR.PA) is stepping up monitoring of its Chinese supply chain after increased disruption resulting from recent pandemic lockdowns, Chief Executive Guillaume Faury said on Thursday.
Western ship insurers are terminating cover for Russia's leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company and Moscow's efforts to export oil and gas.
The Port of Antwerp is adapting to losing shipping trade with Russia and its merger with the neighbouring Port of Zeebrugge is set to boost overall volumes in coming years, the group's chief executive said on Thursday.
Egypt's Suez Canal recorded its highest monthly revenue to date in April, reaping $629 million in ship transit fees, the authority managing the waterway said on Sunday, as traffic rebounded from the impact of the pandemic.
Maersk (MAERSKb.CO) has found possible buyers for its stake in Global Ports Investments, which operates ports in Russia as it withdraws from the country following a final cargo shipment this week, the Danish shipping group said on Wednesday.
U.S. weapons maker Northrop Grumman Corp reported a fall in first-quarter sales and adjusted profit on Thursday, hit by labour shortages and supply chain issues.
India will on Friday launch an open network for digital commerce (ONDC) as the government tries to end the dominance of U.S. companies Amazon.com and Walmart in the fast-growing e-commerce market, a government document showed.
From elsewhere around the web:
Maersk halts operations in Russia and Belarus [Port Technology]
Supply chain constraints could limit electric vehicle adoption, Elon Musk says [Supply Chain Dive]
PPG cleared to reopen 6 facilities closed by China lockdowns [Supply Chain Dive]