The need to know
The need to know for the week ending 21st October 2022
The need to know from Reuters’ global network of journalists
U.S. import prices dropped for a third straight month in September, pulled down by falling costs for petroleum products and a strong dollar, suggesting that imported inflation pressures were subsiding as global supply chains improve.
Global freight volumes have begun to fall as overall consumer and business spending slows and the composition rotates from merchandise back to services after the pandemic.
After more than two years of surging demand, the volume of container imports coming through U.S. ports has tumbled sharply, raising questions about where a sector once tracked as a supply-chain stress point will hit bottom.
The supply chain pressures that were so instrumental to driving up U.S. inflationary pressures at the onset of the coronavirus pandemic are waning.
The Ghost of Christmas Past haunts U.S. store shelves, sales floors and stockrooms this year.
Union Pacific Corp (UNP.N) on Thursday cut its annual volume growth forecast, as the U.S. railroad operator struggles with staffing shortages and weakness in intermodal demand amid a shift in consumer spending to experiences from goods.
On Oct. 7, the U.S. Department of Commerce's Bureau of Industry and Security (BIS) issued an interim final rule aimed at restricting export of sensitive technology to the People's Republic of China (PRC), specifically with respect to advanced computing, supercomputing, and semiconductor capabilities.
Global shortages of middle distillates such as diesel, gas oil and heating oil are intensifying rather than easing – making it more likely a relatively severe slowdown in the business cycle will be necessary to rebalance the market:
Traders are diverting Europe-bound tankers carrying diesel to the U.S. East Coast as the two regions battle for supplies amid an acute shortage and soaring prices.
Three weeks into a strike by French refinery and fuel depot workers over pay, truck driver Antonio Perreira has a new job remit: sitting in line for diesel.
Low water levels on the Mississippi River are likely to persist this winter as drier-than-normal weather is expected across the southern United States and Gulf Coast, U.S. government forecasters said on Thursday.
Indonesia, the world's biggest exporter of refined tin, is planning to ban exports of the metal to attract investment in processing it domestically, although the government said the timing had yet to be decided.
Uganda's coffee exports declined last month due to the impact of a drought affecting many growing areas across the country, the state-run sector regulator said.
Indonesian e-commerce group Blibli, backed by of one of the country's biggest conglomerates Djarum Group, plans to launch an initial public offering next month to raise as much as 8.17 trillion rupiah ($528.29 million), the company said.
Dubai-listed courier firm Aramex (ARMX.DU) said on Wednesday it had bought Florida-based e-commerce company Access USA Shipping LLC (MyUS) for about $265 million in an all-cash deal.
Terawatt Infrastructure will develop a U.S. network of charging stations for medium and heavy trucks along Interstate 10 between Los Angeles and El Paso, Texas, the electric vehicle charging startup said on Thursday, anticipating a significant increase in electric truck traffic along that largely desert corridor.
South African petrochemical firm Sasol (SOLJ.J) on Thursday declared force majeure on the supply and export of certain products because of a strike at state-owned logistics firm Transnet.
About 1,000 GXO (GXO.N) drivers in Britain will take strike action over five days from the end of the month in a dispute over pay, the Unite union said on Tuesday, warning of disruption to beer deliveries.
The U.S. government has significantly boosted purchases of electric and plug-in hybrid vehicles but faces supply chain hurdles, the White House said, as it looks to meet President Joe Biden's aggressive zero-emission purchasing goals.
Swedish medical equipment maker Getinge (GETIb.ST) cut its 2022 sales outlook on Wednesday as supply chain disruptions and China's COVID-19 restrictions add uncertainty, even as its third-quarter revenue beat market expectations.
Hyundai Motor Co (005380.KS), Korea's top automaker, is investigating child labor violations in its U.S. supply chain and plans to "sever ties" with Hyundai suppliers in Alabama found to have relied on underage workers, the company's global chief operating officer Jose Munoz told Reuters on Wednesday.
Nestle (NESN.S) and Procter & Gamble , the world's two biggest consumer firms, reported better-than-expected sales on Wednesday, as shoppers continued to pay more for goods like Nescafe coffee and Gillette razors despite record inflation.
The world's top automakers are planning to spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, along with the batteries and raw materials to support that production, according to a Reuters analysis of public data and projections released by those companies.
The Biden administration said on Wednesday it is awarding $2.8 billion in grants to boost U.S. production of electric vehicle batteries and the minerals used to build them, part of a bid to wean the country off supplies from China.
Chinese battery giant CATL (300750.SZ) has slowed its planning for investment in battery plants in North America on concern that new U.S. rules on sourcing battery materials will drive costs higher, two people with knowledge of the matter said.
Arrival SA said on Thursday it would restructure its business to focus on the U.S. market, seeking to capitalise on the Inflation Reduction Act incentives and a larger addressable market as the electric-vehicle startup strives to cut costs.
U.S. soybean exports are trailing their normal autumn pace despite rising supplies from an accelerating harvest, as low river levels have slowed the flow of grain barges to export terminals, according to U.S. Department of Agriculture (USDA) data issued on Monday.
Some EU countries want the bloc's billion-euro chip plan to fund the production of current cutting edge chips and not just first-of-its kind chips proposed by the European Commission, according to an EU document seen by Reuters.
China's economy showed a significant rebound in the third quarter and employment was largely stable, even amid continuing challenges, a senior official at the state planner said on Monday.
Oct 19 (Reuters) - U.S. economic activity expanded modestly in recent weeks, although it was flat in some regions and declined in a couple of others, the Federal Reserve said on Wednesday in a report that showed firms growing more pessimistic about the outlook.
Dozens of ships carrying liquefied natural gas (LNG) circling off the coasts of Spain unable to secure slots to unload have prompted grid operators for the country to warn they may have to suspend loading to deal with this "exceptional situation".
Ukraine’s grain exports have recently increased to within striking distance of the year-ago numbers, but that could be a brief phenomenon as the recent harvest is significantly smaller than last year’s record.