The need to know
The need to know for the week ending 29th July 2022
The need to know from Reuters’ global network of journalists
In central England, birthplace of the industrial revolution, factories are buzzing anew, hammering out parts for cars, planes and medical machines that used to be made in Asia.
British car production rose 5.6% in June from a year earlier, as supply chain snags began to ease and zero-emission vehicles saw a record month, an industry body said on Thursday.
Mercedes-Benz (MBGn.DE) is boosting its supply chain by dealing directly with chipmakers and forming contingency plans to cut gas usage by up to 50% in Germany, it said on Wednesday, raising its full-year financial guidance after a strong second quarter.
A shortage of vehicles at dealers due to the supply chain snarls gripping automakers is expected to drive down U.S. auto retail sales in July, according to industry watchers.
Major aerospace companies are sounding the alarm on their supply chains as shortages ranging from raw materials to castings or semiconductor chips pressure earnings and crimp the industry's ability to capitalize on roaring travel demand.
Airbus (AIR.PA)cut its annual jet delivery forecast and put the brakes on planned production increases on Wednesday, bowing to pressure from fragile supply chains and widespread labour shortages as aerospace struggles to meet resurgent demand.
China's factory activity likely expanded at the fastest pace in a year in July, a Reuters poll showed on Friday, as production in COVID-hit manufacturing hubs resumed after emerging from lockdowns while supply chain disruptions eased.
Staff at Britain's largest container port, Felixstowe, have voted in favour of strike action in a dispute over pay, the Unite union said on Thursday, warning of huge disruption across the supply chain.
Marine terminals at California's Port of Oakland opened for normal operations on Monday after port leaders and police ended a week-long independent truck driver protest of the state's new "gig worker" law, which stranded cargo on ships, docks and warehouses and worsened U.S. supply chain snarls.
Freight forwarder DSV (DSV.CO) raised its annual earnings outlook on Tuesday after benefiting from high freight rates, but said consumer demand and freight rates have slipped slightly over the past few months as economic uncertainty bites.
Hershey Co (HSY.N)said on Thursday it would fall short of meeting demand for the all-important Halloween and Christmas holiday seasons this year, blaming a scarcity of raw ingredients and difficulties in securing suppliers.
Scandium sits in the shadows of the periodic table. Even by the esoteric standards of other critical minerals, the soft, silvery metal with the atomic number 21 is something of an enigma.
China's historical lead and zinc trading patterns were upended in the first half of this year as imports collapsed and exports surged.
The U.S. Senate on Wednesday passed sweeping legislation to subsidize the domestic semiconductor industry, hoping to boost companies as they compete with China and alleviate a persistent shortage that has affected everything from cars, weapons, washing machines and video games.
Consumer-focused firms are seeing no shortage of demand despite the soaring cost-of-living, prompting several to upgrade sales forecasts for the current year, though questions remain about how long that will last.
Some global consumers are showing signs of cracking, as shoppers stressed by record inflation stick to buying basics like food, bleach and cheap burgers, while those with bigger bank accounts are snapping up $3,000 Louis Vuitton handbags.
McDonald's (MCD.N) will increase the price of its cheeseburger by 20% in Britain, in the first price hike for the popular item in 14 years as it responds to soaring inflation.
United Parcel Service (UPS.N) on Tuesday said it will not lift the number of packages it delivers for Amazon.com, its biggest customer, as it focuses on shipments with the highest financial returns.
Amazon.com Inc (AMZN.O) will raise fees for its delivery and streaming service Prime in Europe by up to 43% a year, the online retailer said on Monday, as it moves to counter higher costs days before it reports quarterly financial results.
Amazon.com (AMZN.O) was meant to transform how the grocery business was run with its $14 billion purchase of Whole Foods in 2017. Instead, that venture at the $1.2 trillion internet giant hasn’t done a whole lot. With its e-commerce unit still booking losses, it’s hard to see how the brick-and-mortar strategy is helping. The company that seemingly can do it all hasn’t yet cracked all the codes.
Top U.S. retailer Walmart Inc (WMT.N) on Monday slashed its profit forecast as surging prices for food and fuel prompted customers to cut back on discretionary purchases, and its shares slid 10% in trading after the bell.
Australian mining firms said a dearth of skilled labour hit output and warned of lower production in fiscal 2022 and 2023, while also grappling with a surge in costs.
The Baltic state of Lithuania has lifted a ban on the rail transport of sanctioned goods into and out of the Russian territory of Kaliningrad, Russia's RIA news agency said on Friday.
Demand for hydraulic fracturing equipment is quickly outpacing supply, executives said this week, setting the stage for a new obstacle to U.S. oil and gas production growth.