The need to know
The need to know for the week ending 9th September 2022
The need to know from Reuters’ global network of journalists
A railroad strike or lockout could cost the U.S. economy $2 billion per day in output, threaten supplies of food and fuel, and stoke already red-hot inflation, according to an industry report released on Thursday.
The German government has agreed in principle with Deutsche Bahn (DBN.UL) to sell the rail operator's Schenker logistics business, government and company sources told Reuters on Thursday.
Supplies of exhaust cleaning fluid in Germany needed to keep diesel vehicles on the road, were thrown into doubt on Wednesday as one of the country's largest makers of AdBlue said its stock was almost gone after it halted production due to high gas prices.
The European Commission is seeking emergency powers to force companies to make key products and stockpile goods in a crisis or else face fines, according to an EU document seen by Reuters on Friday.
German Economy Minister Robert Habeck faced a backlash on Wednesday for saying he could imagine parts of the economy stopping production due to rising energy prices that German firms say are threatening their existence.
Weakening consumer spending is curbing shipping demand and freight rates, transport giant CMA CGM said on Friday as it reported another jump in quarterly profits.
United Parcel Service (UPS.N) said on Wednesday it would hire more than 100,000 holiday workers in 2022, in line with last year, to deal with a surge in packages.
Macy's Inc (M.N) expects another early start to holiday season shopping this year, a contrast to a prediction from Best Buy Co Inc (BBY.N) that highlights the uncertainty among U.S. retailers in forecasting inflation-driven shopping behavior.
Amazon (AMZN.O) staff at a warehouse in Coventry in central England are willing to strike over pay, a union said on Friday, in the latest labour dispute involving the U.S. e-commerce giant's British workers.
Honda Motor Co (7267.T) said on Thursday it would reduce car output by up to 40% at two Japanese plants for the rest of the month due to ongoing supply chain and logistical problems.
U.S. firms reported economic activity was unchanged in July through late August, with further softening expected over the next year even as they saw some tentative greenshoots in the ongoing battle against labor shortages and price pressures, a Federal Reserve report showed on Wednesday.
Economic ministers from the United States and 13 Indo-Pacific countries launched negotiations on Thursday on Washington's first major pan-Asian trade engagement effort in nearly a decade, but this time any deal will not cut tariffs.
Tesla Inc (TSLA.O) is considering setting up a lithium refinery on the gulf coast of Texas, as it looks to secure supply of the key component used in batteries amid surging demand for electric vehicles.
Indian conglomerate Tata Group is in talks with Taiwanese supplier Wistron Corp (3231.TW) to establish a joint venture to assemble Apple's (AAPL.O) iPhones in India, Bloomberg News reported on Friday.
Mercedes-Benz Vans (MBGn.DE) and Rivian (RIVN.O) are planning a joint venture to produce electric vans in a factory in Poland, Hungary or Romania within the next few years, Mercedes-Benz Vans said on Thursday, sending Rivian shares up more than 5%.
More than 560 dockworkers at the Port of Liverpool, one of Britain's largest container docks, will go on strike from Sept. 19 to Oct. 3 over pay, the Unite union said on Friday, adding to a summer of industrial unrest caused by soaring inflation.
China's exports and imports lost momentum in August with growth significantly missing forecasts as surging inflation crippled overseas demand and fresh COVID curbs and heatwaves disrupted output, reviving downside risks for the shaky economy.
China's auto sales reached 2.38 million units in August, increasing 32.1% from a year ago, as they extended a recovery led by electric vehicles (EV) whose sales have been boosted by government incentives.
New car sales in Russia in August fell 62.4% from a year earlier, after a drop of 74.9% in July, the Association of European Businesses (AEB) said on Tuesday.
Uber Technologies Inc (UBER.N) said on Thursday it has partnered with start-up Nuro to test food delivery via unmanned vehicles in some U.S. locations, expanding its tie-ups with companies focused on building self-driving machines.
French transport giant CMA CGM [RIC:RIC:CMACG.UL] is creating a five-year investment fund of 1.5 billion euros ($1.5 billion) aimed at accelerating its energy transition in shipping and logistics, it said on Sunday.
Ukraine's decision to allow its seafarers to leave the country despite wartime restrictions will free up vital manpower for both Ukrainian grain exports and the wider global shipping industry, industry figures told Reuters.
A former FedEx Corp (FDX.N) delivery contractor on Tuesday called for a no-confidence vote by contractors against FedEx Ground Chief Executive John Smith, escalating a conflict with the parcel delivery firm.
The European Union and United States have ramped up buying key industrial metals from Russia, data showed, despite logistical problems spurred by the war in Ukraine and tough talk about starving Moscow of foreign exchange revenue.
Too few ships are arriving in Ukraine to quickly clear mountains of grain built up over months of war despite a U.N.-backed sea corridor, threatening to drive up global food prices and leave the country's cash-strapped farmers struggling to plant crops.
The International Brotherhood of Teamsters, one of the largest U.S. labor unions, said on Tuesday it had launched a new division to focus on unionizing employees of Amazon.com Inc (AMZN.O).
A coalition of companies including oil major Shell and no. 1 container line MSC on Tuesday launched an initiative to explore ways to cut climate-warming methane emissions from ships, which pose a major risk to industry efforts to go greener.
South Africa, one of the world's biggest citrus exporters, will voluntarily stop shipments of valencia oranges to the European Union (EU) from areas affected by a fungal disease, the citrus growers' association said on Wednesday.