The need to know

The need to know for the week ending 10th June 2022

The need to know from Reuters’ global network of journalists

Why a period of crisis has made the supply chain profession stronger than ever

As procurement and supply chain managers steered their companies through the pandemic, the difficulties they faced – and the innovative solutions they implemented – threw a spotlight on the criticality of supply chains for the world.

South Korean production and shipping disrupted as truckers strike for third day

Thousands of South Korean truckers went on strike for a third day on Thursday to protest the sharp surge in fuel costs, disrupting production, slowing activity at ports and posing new risks to a strained global supply chain.

China's May exports, imports seen recovering as supply chains restart, Reuters poll shows

China's exports are expected to have expanded at a faster pace in May as factories reopened and supply chain disruptions calmed after Shanghai began to emerge from a lockdown, while imports also likely rose, a Reuters poll showed.

As Shanghai reopens, California ports prepare for cargo surge

California port leaders expect imports to rise as Shanghai, home to the world's busiest seaport, emerges from a two-month COVID-19 lockdown.

Euro zone May business growth robust but outlook darkens

Euro zone business growth was robust in May but is at risk of a slowdown from soaring living costs, supply chain disruptions and uncertainty surrounding Russia's invasion of Ukraine, a survey showed.

Record exports help shrink U.S. trade deficit

The U.S. trade deficit narrowed by the most in nearly 9-1/2 years in April as exports jumped to a record high, putting trade on course to contribute to economic growth this quarter.

Canada trade slows in April, but set to bounce back

Canadian trade disappointed in April, as both imports and exports slowed, official data showed Tuesday, but economists said the lull was likely temporary, with supply chain disruptions easing and oil exports set to rebound.

Shipping giant CMA CGM sees uncertain outlook as earnings surge again

CMA CGM said on Friday that geopolitical and economic risks were clouding its outlook despite another surge in profits due to a saturated shipping market.

Amazon's consumer chief to jump to logistics startup Flexport as CEO

Dave Clark, the Inc (AMZN.O) executive who built a delivery arm to rival major cargo companies, will join logistics technology startup Flexport as chief executive in September, he said on Wednesday in a LinkedIn post.

Alphabet's Waymo, Uber Freight in deal for future self-driving trucks

Waymo Via, the self-driving trucking unit of Alphabet Inc, and Uber Technology Inc’s Freight business on Tuesday said they signed a long-term strategic partnership that would allow future customers to deploy autonomous trucks more efficiently.

Delivering sustainability through supply contracts

This is the fourth and final article in this series. In earlier articles, we described rapidly emerging environmental, social and governance (ESG) legal and regulatory requirements. In this article, we describe ways for buyers to meet those requirements in their supply chains.

Boeing paused 737 production in May due to supply chain issues, WSJ reports

Boeing Co (BA.N) had paused production of its 737 MAX for about 10 days last month due to supply chain snarls, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Airbus deliveries fell 6% in May amid supply chain pressure

Airbus (AIR.PA) confirmed on Wednesday it delivered 6% fewer airplanes in May, compared to the same month last year, as the aerospace industry wrestles with tight supply chains.

H&M, Lululemon back $250 million Fashion Climate Fund to decarbonise supply chain

Lululemon Athletica Inc (LULU.O) and H&M Group (HMb.ST) are among backers of a $250 million fund aiming to speed up efforts to cut carbon emissions in the fashion industry's supply chain, non-profit group Apparel Impact Institute said on Wednesday.

Private equity in talks with UK's BMI for EV battery exposure

Private equity funds are seeking a minority stake in information provider Benchmark Mineral Intelligence (BMI), aiming to gain exposure to the electric-vehicle battery supply chain, two sources with direct knowledge of the matter said.

Walmart says some suppliers working with retailer to cut prices

Senior Walmart Inc executives said on Friday some suppliers have been responding to the largest U.S. retailer's efforts to lower prices despite their own struggles with high inflation, material and labour costs.

Toyota suppliers ask employees to take leave as lockdown bites

Two Toyota Motor Corp (7203.T) suppliers have asked employees to take a day off with reduced pay this month, spokespeople for the suppliers said, reflecting the impact of a global chip shortage and China COVID-19 lockdowns.

UK new car sales see second weakest May in 30 years

New car registrations in Britain tumbled nearly 21% last month, the second weakest May in three decades after lockdown-hit 2020, as persisting supply challenges hampered sales and deliveries despite robust demand, industry data showed on Monday.

From elsewhere around the web:

Congestion concerns rise amid severe labour shortages on US railroads. [The Loadstar]

How Walmart Is Betting Big On Stores To Catch Amazon In E-commerce. [CNBC]

Target moves to reduce inventory, taking markdowns and cancelling orders. [Supply Chain Dive]

Transatlantic airfreight capacity improves as passenger airlines ramp up summer flights. [Supply Chain Dive]

Transportation capacity up again in May; prices still climbing. [Freight Waves]

Port of Québec signs carbon cutting deal. [Port Technology]

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