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

Trucker blockade shuts major California seaport for second day

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 charging extra for delayed freight pickup as ports face logjam

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.

UK dockworkers at major container port to vote on strike over pay

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.

Producers of fries refusing to supply to Russia, McDonald's successor says

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 to suspend Sunday deliveries in some U.S. markets

FedEx Corp said on Thursday it is suspending Sunday delivery operations in some low-density, rural U.S. markets starting from Aug. 15.

How China became ground zero for the auto chip shortage

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.

Global manufacturers see chip shortage easing

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.

Analysis: Supply chain snags threaten to slow air industry take-off

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.

Blinken to highlight Russia's invasion of Ukraine in push for supply-chain co-operation – WSJ

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.

Ukraine, Russia to sign deal to reopen grain ports, Turkey says

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.

Ship insurers seek more assurances on Ukraine grain corridor

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 railway operator plans Ukraine "grain bridge"

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., allies cannot allow China to dominate raw materials, technologies – Yellen

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.

Semiconductor group ASMI posts record orders despite supply chain woes

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 to cut output by up to 30% at Japan plants on supply snag

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.

For auto retailers, pandemic-era profit boost in rear-view mirror

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.

Electrolux misses profit forecast hit by supply chain, N.America loss

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.

Britain's M&S seeks food supply chain control with $173-mln Gist buyout

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 sees engine delivery delays peaking at mid-year, CEO tells Flightglobal

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.

Rain helps Rhine in Germany but shipping problems remain

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 sees 'exceptionally uncertain' global outlook, deteriorating debt situation

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.

Biden steps in to help end freight railroad and union contract disputes

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 CEO eyes expansion into broader range of commercial electric vehicles

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.

Shrugging off Russia maritime business loss, Cyprus targets Asia shipping

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 buys transportation software provider

Brazilian freight marketplace has completed its first acquisition, of transportation management software provider InterSite. Focused on managing transportation of agricultural commodities, InterSite has around 10,000 clients.

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