The need to know

The need to know for the week ending 30th September 2022

The need to know from Reuters’ global network of journalists

Mercedes-Benz Trucks, Hegelmann agree order of 50 long-haul e-trucks

Mercedes-Benz Trucks and Hegelmann Group have signed a letter of intent for the order of 50 battery-electric long-haul trucks, which are to be delivered to Hegelmann with the start of series production in 2024, a company statement said on Wednesday.

Volkswagen teams up with Umicore on battery materials

Volkswagen (VOWG_p.DE) announced on Monday a $2.9 billion battery parts joint venture with Belgian materials firm Umicore, becoming the latest European automaker to bring battery supplies closer to home in the shift towards electric vehicles.

Column: Indonesia's nickel surge bad news for price and pricing

Indonesia's production of nickel is surging as a wave of new capacity powers up to meet growing demand from the electric vehicle (EV) battery sector.

GM to invest $760 million to shift Ohio plant to EV-part production

General Motors Co (GM.N) said on Friday it will invest $760 million at its Toledo, Ohio factory to build drive units for electric trucks, the automaker's first U.S. powertrain facility repurposed for EV-related production.

S.Korea's SK On inks deal with Global Lithium Resources for lithium supply            

South Korean battery maker SK On said on Thursday it signed a memorandum of understanding with Australia's Global Lithium Resources Ltd (GL1.AX) for stable supply of lithium.

Electric van maker Arrival misses quarterly production goal

British electric van and bus maker Arrival said on Friday it had missed its third-quarter target to start van production because of supply chain problems, but was on target to meet its goals for the end of 2022.

Putin moves to ban some Western trucks from transiting through Russia

President Vladimir Putin signed a decree on Thursday authorising the Russian government to ban some Western trucks from transiting across Russian territory.

Factbox: Latest on ratification status of U.S. railroad unions to avert strike

Major U.S. railroads and unions representing 115,000 workers reached a tentative deal last week and averted a potential strike that could have stalled almost 30% of U.S. cargo shipments by weight, stoked inflation and cost the U.S. economy as much as $2 billion per day.

Apollo Global exploring takeover of Ryder System - Bloomberg

Apollo Global Management (APO.N) is exploring a takeover of freight services provider Ryder System (R.N), Bloomberg News reported on Tuesday citing people with knowledge of the matter.

Vietnam tech firm FPT produces country's first semiconductor chips

FPT Semiconductor, a unit of Vietnam's leading tech company FPT (FPT.HM), launched its first line of semiconductor chips used in medical devices on Wednesday, part of the company's efforts to enter the competitive global industry.

Maersk to slow pace of ships to save fuel as demand loses steam

Maersk (MAERSKb.CO) will begin to slow the pace of its container ships to lower fuel costs after sailing at full speed to keep up with demand during the pandemic, its chief executive said on Thursday.

Rhine water depth up from crisis levels, could normalise this week

Water depths on the Rhine in Germany could rise to normal levels this week, with forecasts of heavy rain in river catchment areas, vessel brokers and commodity traders said on Monday.

Polish e-commerce leader Allegro trims forecast over inflation fears

Poland's biggest e-commerce company Allegro (ALEP.WA) trimmed its full-year guidance on Thursday for the second time this year, as it anticipates high inflation could lower demand.

Ukrainian grains still using Danube as gateway to Romanian Black Sea port

Ukraine continues to ship grain across the Danube to the Romanian Black Sea port of Constanta even after some of its own ports reopened, and the new routes are likely to remain, the deputy chief of freight logistics group TTS said on Wednesday.

To tackle a kimchi crisis, South Korea banks on massive cabbage warehouses

South Korea's kimchi makers are in serious pain - brought low as a climate change-induced shortage of cabbages sent prices rocketing this year, exacerbating damage inflicted by cheaper offerings from Chinese competitors.

Aircraft parts output is being grounded by worker shortages

Canada's Mitchell Aerospace has a booming business - and a shop-floor shortfall that is reverberating from Boeing (BA.N) to Airbus (AIR.PA).

Singapore air cargo deal elevates its hub status

Singapore is boosting its hub status as global recession fears loom.

U.S. lawmakers want Biden order boosting oversight of outbound investment in China

A bipartisan group of U.S. lawmakers on Tuesday called on President Joe Biden to issue an executive order to boost oversight of investments by U.S. companies and individuals in China and other countries.

UK car output rises in August, soaring costs cast shadow over recovery

British car production rose for a fourth straight month in August, compared with a year earlier, although record input costs cast a shadow over the sectors' recovery, the Society of Motor Manufacturers and Traders (SMMT) said on Thursday.

Yellen says weather disasters reduce U.S. productive capacity, sap resources

Weather disasters linked to global warming are increasingly reducing the productive capacity of the U.S economy and sapping resources from governments, U.S. Treasury Secretary Janet Yellen said on Tuesday, arguing for an accelerated transition to renewable energy.

Column: Russian supply uncertainty weighs on aluminium market

When aluminium hit its all-time high of $4,073.50 per tonne in March, it did so in direct reaction to Russia's invasion of Ukraine.

Column: Copper price slump brings Chinese buyers out in force

While the rest of the world worries about recession, China is steadily increasing its imports of physical copper.

U.S. business activity remains subdued in September, S&P Global survey shows

U.S. business activity contracted for a third straight month in September, though the pace of decline slowed while improving global supply chains eased inflation pressures for companies.

Taiwan says U.S.-led 'Chip 4' group discussed supply chain resilience

The United States has convened the first meeting of a working group of East Asian countries to discuss how to strengthen the semiconductor supply chain, a Taiwanese official said on Friday, after a two-year global chip crunch.

Jordan's Aqaba Development signs $242 mln MoU with APM Terminals to develop logistics centre

Jordan's Aqaba Development Company has signed a $242 million memorandum of understanding with APM Terminals to develop a regional logistics centre in the city of Aqaba, the prime minister's office tweeted on Tuesday.

Saudi ports authority signs about $240 mln of deals, says state news agency

The Saudi Ports Authority signed seven contracts and memorandums of understanding (MoUs) with public and private sector partners worth more than 900 million riyals ($239 million), state news agency SPA reported on Wednesday.

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