The need to know
The need to know for the week ending 22nd July 2022
The need to know from Reuters’ global network of journalists
Truckers protesting California's new "gig worker" law blockaded the state's third-busiest seaport for a second day on Thursday, stalling agricultural exports and threatening to worsen U.S. supply chain backups.
Union Pacific Corp (UNP.N) is charging customers for delayed pickup of freight from trains, its chief executive officer said on Thursday, as U.S. railroad operators come under pressure to quickly clear containers from clogged up West Coast ports.
Hundreds of dockworkers at one of Britain's largest container ports will be balloted for strike action in a dispute over pay and conditions, a union representing them said on Tuesday, threatening disruption to supply chains.
The head of the company now running the former McDonald's Corp chain of restaurants in Russia told RBC TV that producers of French fries are refusing to supply to the country and warned that attempts to increase domestic processing are fraught with difficulties.
FedEx Corp said on Thursday it is suspending Sunday delivery operations in some low-density, rural U.S. markets starting from Aug. 15.
From his small office in Singapore, Kelvin Pang is ready to wager a $23 million payday that the worst of the chip shortage is not over for automakers – at least in China.
Hyundai Motor Co (005380.KS), factory robot builder ABB (ABBN.S) and Swedish fridge maker Electrolux (ELUXb.ST) see the semi-conductor chip shortage easing, executives said Thursday, in a boost for manufacturers after a long struggle for components.
The global air industry is in the midst of a post-pandemic rebound, but supply chain problems have left suppliers and manufacturers scrambling to source everything from raw materials to small electronic components to keep production moving.
U.S. Secretary of State Antony Blinken is expected to point to Russia's invasion of Ukraine as an urgent reason for governments to cooperate more closely on the international supply chain, the Wall Street Journal reported on Tuesday citing State Department officials.
Russia and Ukraine will sign a deal on Friday to reopen Ukraine's Black Sea ports for grain exports, Turkey said, raising hopes that an international food crisis aggravated by Russia's invasion can be eased.
Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy to deal with sea mines, underwriters and brokers say.
Germany's State-owned rail company Deutsche Bahn said it was planning to transport grain by freight train from Ukraine to Germany's ports.
U.S. Treasury Secretary Janet Yellen will call on Tuesday for deeper trade ties among allies to fortify their supply chains, combat inflation and thwart China's "unfair trade practices" and efforts to dominate key raw materials and technologies markets.
Dutch semiconductor supplier ASM International (ASMI.AS) on Wednesday flagged new orders at a record high as it published results in line with its forecast, despite lingering supply-chain issues.
Honda Motor Co (7267.T) said it would slash production by up to 30% in Japan next month against original plans due to persistent supply chain and logistical issues.
Profit growth at U.S. car dealers is likely to lose momentum in the second quarter, as the auto industry struggles to ramp up production due to parts shortage, while inflation-fueled price hikes keep buyers out of the market.
Sweden's Electrolux (ELUXb.ST) missed second-quarter profit expectations on Thursday hit by supply chain problems and a loss in its North American business.
British retailer Marks and Spencer (MKS.L) said on Thursday it would acquire its key logistics services provider Gist Ltd for 145 million pounds ($173.06 million) in an all-cash deal as it seeks to take control of its food supply chain.
Airbus (AIR.PA) expects delays in engine supplies that have been holding back aircraft deliveries to peak at mid-year, Chief Executive Guillaume Faury was reported on Monday as saying.
Heavy rain is helping stabilise the river Rhine in Germany as it suffers low water levels, but it is unlikely to be enough to solve freight shipping problems, navigation authorities said on Thursday.
IMF chief Kristalina Georgieva on Saturday warned officials from the Group of 20 major economies to take urgent action to combat inflation, warning that the "exceptionally uncertain" global economic outlook could turn worse if higher prices persisted.
U.S. President Joe Biden on Friday signed an executive order creating an emergency board to help resolve disputes between major freight rail carriers and their unions, in a move that could help loosen up some supply chain constraints.
Rivian Automotive Inc (RIVN.O) is planning a broader range of electric commercial vehicles in a variety of shapes and sizes, and expects to be building millions of EVs a year at multiple plants after 2030, Chief Executive R.J. Scaringe said.
Cyprus has already overcome the loss of Russian maritime trade due to European sanctions and the Mediterranean shipping hub is chasing business expansion in Japan and elsewhere in Asia as it looks to grow its flag, a senior government official said.
Brazilian freight marketplace Frete.com has completed its first acquisition, of transportation management software provider InterSite. Focused on managing transportation of agricultural commodities, InterSite has around 10,000 clients.