The need to know

The need to know for the week ending 26th August 2022

The need to know from Reuters’ global network of journalists

Plan to improve German rail transport may worsen congestion, industry warns

Germany is set to make rail transport for power plants and refineries a priority this week to ensure supply, even as railway union and rail association officials warn the network is already too congested.

EXCLUSIVE German government sees problems with coal, oil supplies -document

Germany's government is concerned about possible problems with the coal supply for power plants in the autumn and winter due to low water levels on the river Rhine and the oil supply in eastern parts of the country, a document seen by Reuters said.

German dependence on China growing 'at tremendous pace', research shows

The German economy became more dependent on China in the first half of 2022, with direct investment and its trade deficit reaching new heights, despite political pressure on Berlin to pivot away from Beijing, according to research seen by Reuters.

German exports beyond the EU slump in July

German exports beyond the European Union fell by 7.6% on the month in July, the Federal Statistics Office said on Monday, marking a weak start to the second half in the engine room of Europe's largest economy.

Relief as Rhine water rises in Germany, but expected to drop again

Water levels on the river Rhine in Germany have risen after recent rain but are expected to fall again with mostly dry weather forecast in coming days, ship operators said on Wednesday.

Carbon dioxide halt piles pressure on UK food, drinks sector

Britain's food and drinks industry on Thursday said the government needed contingency plans to ensure supplies of carbon dioxide after a major producer halted its operations, potentially adding to supply chain problems.

Workers at UK's biggest container port Felixstowe due to begin 8-day strike

More than 1,900 workers at Britain's biggest container port are due on Sunday to start eight days of strike action which their union and shipping companies warn could seriously affect trade and supply chains.

Honda considering decoupling supply chain from China -Sankei

Honda Motor Co Ltd (7267.T) is considering building a separate supply chain that would reduce its dependence on China, the Sankei newspaper reported on Wednesday, in what would be a high profile move by a major Japanese manufacturer.

Shipping container suppliers abandon $987 million deal after U.S. probe

Global shipping container suppliers China International Marine Containers and Maersk Container Industry in a joint statement on Thursday said they have abandoned a merger plan, citing significant regulatory challenges.

U.S. economy contracts mildly in second quarter; no sign of recession in underlying data

The U.S. economy contracted at a more moderate pace than initially thought in the second quarter as consumer spending blunted some of the drag from a sharp slowdown in inventory accumulation, dispelling fears that a recession was underway.

Ukraine restores Moldova rail link, could carry 10 mln tonnes a year

Ukraine has restored a rail link to neighbouring Moldova after a 23-year hiatus and the connection could carry 10 million tonnes of freight a year, President Volodymyr Zelenskiy said in a video address on Monday.

Sanctions-hit Russia sending fuel oil to Asia, ship-to-ship terminals

Under pressure from Western sanctions, Russia is exporting more fuel oil to Asia and using ship-to-ship transfers to build larger cargoes for distant markets, according to traders and Refinitiv data.

Pinduoduo to launch international e-commerce platform next month - source

Chinese e-commerce giant Pinduoduo (PDD.O) plans to launch a cross-border e-commerce platform next month which will target the United States as its first market, a source with direct knowledge of the matter said.

India e-commerce firms ramp up hiring of delivery workers for shopping season

India's e-commerce companies are adding delivery personnel at a rapid pace, fearing a labour shortage might cause them to lose out in one of the biggest annual shopping seasons that begins in earnest next month.

Chinese delivery firm ZTO Express raises $870 mln in convertible bonds

ZTO Express (Cayman) Inc raised $870 million by issuing convertible bonds that the Chinese delivery firm plans to use to bolster its logistics operations, regulatory filings showed on Thursday.

China's beats quarterly revenue estimates

Chinese e-commerce giant Inc (9618.HK), beat Wall Street estimates for quarterly revenue on Tuesday as lockdowns in China to control the coronavirus boosted online shopping and the company's "618" shopping event.

Honda to cut output by up to 40% at Japan plants on supply disruptions

Honda Motor Co (7267.T) said on Thursday it would slash production plans by up to 40% in Japan early in September due to persistent supply chain and logistical issues.

UK car production up 8.6% in July as component shortages begin to ease

British car production rose for a third straight month in July, 8.6% higher than a weak comparative last year, when car makers were struggling with acute shortages of chips and COVID-related absences, the Society of Motor Manufacturers and Traders (SMMT) said on Thursday.

Turkish automotive production climbs 37.4% in July

Production in Turkey's automotive sector jumped 37.4% year-on-year in July to 93,659 vehicles, with exports climbing 16.2% to 59,596, the Automotive Manufacturers Association (OSD) said on Monday.

China's reliance on foreign battery metals poses a challenge - industry

China needs to strengthen its domestic resources of battery metals including nickel, lithium and cobalt as its reliance on external supply poses a risk for its electric vehicle industry, a metals industry official said on Friday.                   

UPDATE 1-China warns against monopolies, hoarding in photovoltaic industry

China’s industry ministry issued a notice on Wednesday to promote and optimise the development of the country’s photovoltaic industry, warning against market monopolies and encouraging development of power and storage projects.


comments powered by Disqus