The need to know
The need to know for the week ending 19th August 2022
The need to know from Reuters’ global network of journalists
Water levels on the Rhine river are very low because of unusually hot and dry weather, preventing many vessels from navigating the critical European shipping route fully loaded.
Around 20 ships are stuck in traffic along Germany's river Rhine, where low water levels have already impeded shipping this summer, after a vessel's engine failure closed part of the waterway, authorities said on Wednesday.
Germany plans to give the transportation of materials and equipment essential for energy production priority on the country’s rail networks should water levels on the Rhine fall further and hamper shipping by river, a draft decree shows.
Europe is heading into winter with seasonally low levels of diesel in storage tanks, with major implications for the continent's industries and drivers in the run-up to EU sanctions on Russian crude oil and refined product supplies.
Oil major Shell on Thursday said it had to cut output at its German Rhineland refining facility, which makes fuels, heating oil and petrochemicals, citing low Rhine levels that have made the transport of goods via the river more challenging.
Britain's Communication Workers Union said on Friday workers at the Post Office would take their fourth round of industrial action on Aug. 26, to coincide with a walkout by some staff at Royal Mail (RMG.L) on the same day.
U.S. President Joe Biden’s emergency board tasked with helping major freight railroads and unions end a contract negotiation stalemate proposed on Tuesday annual wage increases of between 4% and 7% through 2024, according to a report seen by Reuters.
Producers of lithium, fertilisers and other metals shut plants or curbed output in China’s southwestern Sichuan province on Monday after it rationed industrial electricity consumption amid its worst heatwave in 60 years.
The Inflation Reduction Act (IRA) includes the "largest investment ever in combating the existential crisis of climate change", according to President Joe Biden, who will sign the bill into law later on Tuesday.
DUBAI, Aug 18 (Reuters) - Dubai-owned ports giant DP World reported on Thursday a record $721 million first-half profit boosted by elevated shipping rates but said it expected its profit, revenue and container growth rates to moderate in the rest of the year.
Australia's Qantas Airways (QAN.AX) said on Monday it would add six Airbus SE (AIR.PA) A321 converted freighters to its domestic fleet to replace five ageing Boeing Co (BA.N) 737s and expand capacity to meet a surge in demand from online shopping.
The economic outlook for Germany is gloomy due to energy price rises and supply chain disruptions, the finance ministry said on Friday, a message underscored by a record jump in producer prices.
Procter & Gamble Co (PG.N) will take steps aimed at reducing potential harm to forests from its purchases of wood pulp for toilet paper and other consumer goods, after being pressured by environmentalists and investors for more sweeping changes.
Japan's imports jumped to a record amount in July, boosted by global fuel inflation and a weak yen, outweighing exports and deepening the trade deficit, in a sign of a further worsening in the terms of trade for the export-oriented economy.
U.S. import prices fell for the first time in seven months in July, helped by a strong dollar and lower fuel and nonfuel costs, while consumers' one-year inflation outlook ebbed in August, the latest signs that price pressures may have peaked.
British households are feeling "a sense of exasperation" about the surging cost of living which has pushed consumer sentiment to its lowest since at least 1974, according to the country's longest-running survey of household finances.
The London Metal Exchange's (LME) global warehousing network is shrinking rapidly.
Faraday Future Intelligent Electric Inc said on Monday that the electric-vehicle startup will raise up to $600 million in funding as it looks to deliver its FF 91 luxury car later this year.
German online takeaway food company Delivery Hero (DHER.DE) on Tuesday forecast a 7% jump in its third-quarter gross merchandise value (GMV) to 10.6 billion euros ($10.8 billion), compared with the April to June period.
Pity the retail executive. Inflation, supply chain issues and consumer preferences changing by the day make it exceedingly difficult to see what’s around the corner.
Two big U.S. retailers Walmart Inc (WMT.N) and Target Corp (TGT.N) said on Tuesday that supplies of baby formula were improving, months after the country faced acute shortages that had caused a panic among parents.
BRASILIA, Aug 16 (Reuters) - European Union representatives have approached Brazil's government seeking to rekindle negotiations with South America's Mercosur bloc on a stalled trade agreement, two sources with direct knowledge of the matter told Reuters.
The first ship to depart Ukraine under a deal to resume grain exports from the country two weeks ago docked in the Syrian port city of Tartous on Tuesday, according to a shipping source and satellite data.
Singapore's main food delivery platforms said on Thursday they had formed an association to draft industry guidelines for the welfare of their workers, an unprededented partnership that comes amid heightened concern for the wellbeing of gig workers.
Exports of Russian wheat harvested this summer for the 2022/23 marketing season are unlikely to fulfil the potential offered by an expected record crop as banks, shippers and insurers are still wary despite U.S. assurances over sanctions, traders said.
As investors await another jumbo-sized rate increase from the Federal Reserve, they are taking the temperature of a weeks-long U.S. stock market rally that followed a vicious first-half selloff.
China's Tencent Holdings (0700.HK) plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan (3690.HK) to placate domestic regulators and monetise an eight-year-old investment, four sources with knowledge of the matter said.
The board of Dubai's Emaar Properties (EMAR.DU), which owns the Dubai Mall, will meet on Thursday to discuss the sale of its e-commerce fashion business, the company said on Monday.