The need to know
The need to know for the week ending 10th February 2023
The need to know from Reuters’ global network of journalists
Shoppers to face fresh price hikes as stores, suppliers pass on costs
Shoppers around the world will pay even more for groceries this year than they did in 2022, according to retailers, consumer goods firms and investors, unless commodity costs decline or the shift to cheaper store-brand products accelerates.
Unilever says prices hikes will continue into this year, easing in H2
Unilever Plc (ULVR.L) said on Thursday it would continue to raise prices for its detergents, soaps and packaged food to offset rising input costs, and ease up those hikes in the second half of 2023.
Why Europe's drug shortages may get worse
When Ignasi Biosca-Reig heard there were shortages of amoxicillin in Spain, he quickly added shifts at his drug company's factories to boost production of the popular antibiotic. But a few extra shifts was as far as he could go.
Maersk warns lower container volumes to hit 2023 profits
Shipping group A.P. Moller-Maersk (MAERSKb.CO) warned on Wednesday lower container volumes and freight rates would drive a four-fold plunge in profits this year, even as it reported record earnings for 2022.
U.S. diesel prices drop as Europe's ban on Russian imports begins
U.S. diesel prices have dropped this month and could go lower, analysts said, an unexpected swoon that coincided with the start of a British and European Union ban on Russian fuel imports.
Russia to boost diesel exports in Feb despite embargo, price cap
Russia plans to boost diesel exports in February in attempt to cope with a European Union embargo, price cap and lack of tankers, data from traders and Refinitiv showed.
Column: US tariffs on Russian aluminium risk more market fracture
The political fracturing of the aluminium market looks set to intensify as the United States mulls imposing penal tariffs of up to 200% on imports of Russian metal.
Fire at Turkey's Iskenderun Port extinguished -defence ministry
A fire that engulfed hundreds of shipping containers at Turkey's Iskenderun Port after massive earthquakes in the region have been extinguished, the defence ministry said on Tuesday, but it was not clear when operations would resume at the port.
Spanish court rules Amazon 'Flex' couriers were falsely self-employed
A Spanish court has ruled that Amazon (AMZN.O) must compensate self-employed couriers who used their own vehicles for deliveries, a move welcomed by a labour union that has criticised worker conditions in the "gig economy".
Ford's pain underscores uneven impact of two-year auto chip shortage
Ford Motor Co's (F.N) disappointing quarterly results underscored that disruptions caused by the global semiconductor shortage are still bedeviling automakers, but some are suffering more than others.
GM inks deal with GlobalFoundries to secure U.S.-made chips
General Motors Co (GM.N) and chipmaker GlobalFoundries Inc (GFS.O) on Thursday announced a long-term deal for the automaker to secure U.S.-made processors that will enable it to avoid the factory-halting chip shortages that kept millions of cars from being manufactured during the pandemic.
Unilever to build Mexico plant as part of $400 mln investment
Unilever Plc (ULVR.L) will build a manufacturing plant in the northern Mexican border state Nuevo Leon as part of a $400 million investment in the country over the next three years, the company said on Tuesday.
German companies plan more U.S. investment in 2023 - survey
German companies plan to invest more in the United States in 2023, with the auto, transport and logistics sectors likely to be the biggest beneficiaries, a survey released on Wednesday showed.
Exclusive: Intel weighs boost to investment in Vietnam chip packaging plant
Intel Corp (INTC.O) is considering a significant increase in its existing $1.5-billion investment in Vietnam to expand its chip testing and packaging plant in the Southeast Asian nation, two sources familiar with the matter told Reuters.
Tata considers Spain, Britain for European EV battery plant - source
India's Tata Group is considering setting up a battery cell plant for electric vehicles (EV) in Spain or Britain, a source with knowledge of the matter told Reuters, as its carmaking unit seeks to boost supply chains in Europe.
BorgWarner sees EV business to grow at least 72% in 2023
BorgWarner Inc (BWA.N) said on Thursday it expects sales from its electric vehicle (EV) business to grow at least 72% in 2023 as the U.S. auto supplier increasingly shifts its focus toward EV makers.
Republican senators seek to reverse U.S. heavy-duty truck emissions rule
A group of 34 Republican senators said on Thursday they would seek to overturn U.S. Environmental Protection Agency (EPA) rules that aim to drastically cut smog- and soot-forming emissions from heavy-duty trucks.
Europe's automakers need counter-measures not protectionism, industry says
European automakers and associations urged policymakers for stronger counter-measures to boost domestic industry in response to the U.S. Inflation Reduction Act (IRA), but warned that the region should not respond with protectionism.
Mobility study cites roadblocks for U.S. electric vehicles, sustainable aviation
Automakers may not be able to build as many electric vehicles as they would like — and consumer demand for those EVs may not materialize as quickly as anticipated — if government and industry do not address and resolve a convergence of issues, a new study released on Tuesday said.
U.S. set to loan Redwood Materials $2 bln for EV materials plant
The U.S. Energy Department on Thursday made a conditional commitment to Redwood Materials for a $2 billion low-cost government loan to help build out a $3.5 billion recycling and remanufacturing complex in Nevada for battery materials.
Column: China's zinc and lead exports plug Western supply gaps
China was a net exporter of refined zinc last year for the first time since 2007, while exports of refined lead remained super strong for the second year running.
Japan may opt for milder chip-equipment curbs on China than U.S, says lawmaker
Japan may opt for milder restrictions on chip production machinery sales in China than those implemented by the United States even though they agree on export curbs, an influential Japanese ruling party lawmaker told Reuters on Wednesday.
How best to integrating climate-conscious clauses in supply chain contracts
Climate-conscious clause are becoming more common in supply chain contracts & companies should be aware of the complexity they may introduce.
Airbus urges suppliers to carry extra stocks amid output snags
Airbus (AIR.PA) laid down the law to its stretched supply chain on Wednesday, with a senior U.S. executive reminding contractors to meet timing and quality targets and recommending that suppliers shore up "buffer stocks" of critical materials.