The need to know
The need to know for the week ending 12th August 2022
The need to know from Reuters’ global network of journalists
Aug 10 (Reuters) - Royal Mail (RMG.L) warned on Wednesday that it could post a loss in the UK for the full-year 2022-23, if four days of strike called by the Communications Workers Union (CWU) in August and September went ahead.
Aug 8 (Reuters) - Dutch postal company PostNL (PTNL.AS) on Monday cut its 2022 earnings outlook for the second time this year and said it would raise prices in 2023 to combat soaring costs and waning e-commerce volumes.
LONDON, Aug 5 (Reuters) - More than 1,900 workers at Britain's biggest container port Felixstowe plan eight days of strikes later this month due to discontent over pay, union Unite said, threatening supply chains if final talks with the employer fail.
WASHINGTON, Aug 10 (Reuters) - The U.S. Transportation Department (USDOT) said on Wednesday a supply chain pilot data-sharing project aimed at easing bottlenecks at congested U.S. ports has begun exchanging data and doubled in size.
FRANKFURT, Aug 11 (Reuters) - German container shipper Hapag-Lloyd (HLAG.DE) on Thursday posted a net profit of 8.7 billion euros ($8.94 billion) for the first half of 2022, more than three times as much as a year earlier, but said war in Ukraine and the coronavirus crisis somewhat clouded its prospects.
FRANKFURT, Aug 11 (Reuters) - Global growth in container fleets through new orders and building activity will outstrip shipping demand from next year and ease current market tightness, the chief executive of Hapag-Lloyd (HLAG.DE) said in an analyst call on Thursday. read more
Aug 9 (Reuters) - FedEx Office will pilot Ford Motor Co's (F.N) electric vans to pickup and deliver parcels in some regions, the unit of FedEx Corp (FDX.N) said on Tuesday, as part of the delivery giant's move to cut its fleet's tailpipe emissions.
BERLIN/LOBITH, Netherlands, Aug 10 (Reuters) - Already bracing for recession and winter energy shortages, German businesses are grappling with the lack of another precious commodity: rain.
LONDON, Aug 9 (Reuters) - U.S. manufacturing production probably peaked during the second quarter, though the data are noisy and conflicting, and a turning point may not become obvious until September or October.
BEIJING, Aug 7 (Reuters) - China's export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-induced slump, but weakening global demand could start to drag on shipments in coming months.
TOKYO, Aug 12 (Reuters) - Japan's Mazda Motor Corp (7261.T) said on Friday it would ask its parts suppliers to increase stockpiles in Japan and produce components outside China after COVID-19 lockdowns in Shanghai destabilised supply and hampered production.
JOHANNESBURG, Aug 5 (Reuters) - South Africa and Botswana have agreed to fund the improvement and extension of rail links between the countries in a bid to boost trade and better connect Botswana to export markets, South African state-owned logistics firm Transnet said on Friday.
Aug 6 (Reuters) - A foreign-flagged ship arrived in Ukraine on Saturday for the first time since the war started in February, and will be loaded with grain, Ukrainian Infrastructure Minister Oleksandr Kubrakov said.
Aug 10 (Reuters) - African e-commerce firm Jumia Technologies said on Wednesday it was past peak losses and would focus on promotions, marketing and cost cutting in its quest towards profitability, driving its shares up 16% despite a wider quarterly loss.
Warehouses in California's Inland Empire are mushrooming in tandem with the nation's e-commerce habit, angering local residents.
Aug 8 (Reuters) - Businesses stung by rising costs and lower consumer spending are shying away from Shopify's platform, creating a roadblock in its plan to fix past missteps in overestimating e-commerce demand.
Aug 11 (Reuters) - Miners will struggle to expand operations in the United States in record time to meet a deadline for sourcing key minerals domestically or from select countries as set out by a bill likely to be passed on Friday, companies and industry watchers said.
BERLIN, Aug 9 (Reuters) - Continental (CONG.DE) expects higher auto production in the second half of the year as supply chains and semiconductor availability improve, the company said on Tuesday, after reporting a heavy second-quarter loss.
Aug 8 (Reuters) - United Parcel Service Inc said on Monday it would buy Italy-based healthcare logistics firm Bomi Group to bolster its capability in delivering medicines that require cold storage.
BERLIN, Aug 11 (Reuters) - Daimler Truck (DTGGe.DE) will keep prices high even if certain costs begin to fall in order to compensate for lower margins since last year, the truckmaker said on Thursday, forecasting demand will remain strong into 2023 despite fears of recession.
LONDON, Aug 10 (Reuters) - As energy bills mount and the threat of rationing increases, some European retailers are turning off lights and considering shorter opening hours this winter.
WASHINGTON (Reuters) - The heads of chipmakers GlobalFoundries and Applied Materials and carmakers Ford Motor and General Motors Co were to meet at a closed-door summit with U.S. government officials on Monday to discuss administration plans to invest in semiconductors.
ISTANBUL, Aug 5 (Reuters) - Turkey's industrial production is seen expanding 6.7% annually in June, continuing a strong two-year run despite rampant inflation and an ailing currency, a Reuters poll showed on Friday.