The need to know

The need to know for the week ending 10th March 2023

The need to know from Reuters’ global network of journalists

NY Fed says supply chain pressures normalized in February

Global supply chains have "returned to normal," the Federal Reserve Bank of New York said on Monday, with pressures dropping to the lowest since before the COVID-19 pandemic threw a wrench into procurement networks worldwide and created shortages for everything from microchips to motor vehicles.

Inflation scare over? The case for and against sticky inflation

Two years after inflation began its rapid ascent, investors, economists and policymakers remain divided on the path ahead.

Analysis: China's chip sector needs more than state money to dull impact of US restrictions

China plans to splurge to help its chip sector overcome U.S. export curbs, but money can only do so much unless Chinese firms can break from a cycle that hinders innovation and traps them at the low end of the value chain, industry players said.

China to double down on push to be self-reliant in tech, premier says

China's science and technology policies should aim to build its strength and self-reliance, while the role of the government in pooling resources for key technological breakthroughs needed to be leveraged better, Premier Li Keqiang said on Sunday.

Column: China's mixed commodity imports show both future hope, slow reality

China's imports of major commodities showed both the potential for an acceleration this year and the reality that economic momentum takes time to build.

Column: China's run of strong diesel, gasoline exports poised to end

The flood of Chinese diesel and gasoline into Asia's markets for refined products is set to slow sharply in March, as the world's second-biggest economy starts to consume more fuel domestically.

China's warns consumer confidence will take time to rebuild

Chinese e-commerce firm Inc (9618.HK), said on Thursday rebuilding consumer confidence would take time after the lifting of strict pandemic-related curbs late last year, as it missed fourth-quarter revenue forecasts.

Deutsche Bahn picks three banks to sell $20bn logistics unit

German rail operator Deutsche Bahn has selected Goldman Sachs (GS.N), Morgan Stanley (MS.N) and Deutsche Bank (DBKGn.DE) to run a sale of its logistics arm for up to 20 billion euros ($21.1 billion), sources familiar with the matter told Reuters.

Uber explores logistics unit sale, IPO - Bloomberg News

Uber Technologies Inc (UBER.N) is exploring whether to spin off its Uber Freight logistics unit in a sale or as a separate publicly traded firm, Bloomberg News reported on Wednesday, citing people familiar with the matter.

CERAWEEK-Don’t let China control clean energy supply chain, US officials warn

HOUSTON, March 9 - Officials from President Joe Biden's administration warned leaders of the U.S. clean energy transition this week to decarbonize quickly and keep the supply chain out of China's control.

India, US to sign memorandum of understanding on semiconductors

NEW DELHI, March 9 (Reuters) - The United States and India will sign a memorandum of understanding on semiconductors as both countries discuss coordination of investment and continue dialogue around policies to spur private investment, U.S. Commerce Secretary Gina Raimondo said on Thursday.

Daimler Truck shares down on lower earnings despite positive outlook

Daimler Truck (DTGGe.DE) said an improving Chinese market, easing chip shortages and a stabilising supply chain would lift its profit this year, adding it will continue to pass on rising costs to customers by increasing prices.

German industrial output rises more than expected in January

German industrial production rose significantly more than expected in January, increasing by 3.5% on the previous month, the federal statistical office said on Wednesday.

German union votes for strike at Deutsche Post, wage talks to continue

Members of Germany's Verdi trade union backed an indefinite strike at Deutsche Post on Thursday but also said wage negotiations would continue on Friday.

CATL’s battery ram is losing power

Chinese battery maker Contemporary Amperex Technology (300750.SZ) posted earnings growth of 61% for the quarter ended December on Thursday.

Column: Automakers rush in where miners fear to tread

The race for electric vehicle (EV) battery metals is heating up.

Column: Tesla hits the brakes but rare earths juggernaut rolls on

Tesla (TSLA.O) will eliminate the use of rare earths in its next-generation electric vehicles (EV).

US FDA flags shortage of medication used to treat breathing conditions

The U.S. health regulator said on Wednesday that it is working to address a shortage of a particular form of albuterol, a medication used to treat breathing conditions, as its sole manufacturer Akorn has stopped production.

Bertarelli-backed Volta Trucks seeks $264 mln in pre-IPO round, says CEO

Volta Trucks, the electric-truck maker backed by billionaire Ernesto Bertarelli, is in advanced discussions to raise as much as 250 million euros ($263.58 million), its CEO told Reuters.

Eni to supply biofuel to Italian logistics group Spinelli

Energy group Eni (ENI.MI) has signed a two-year contract with Italy's Spinelli to power the trucks of the logistic group with a diesel fuel produced from 100% renewable raw materials.

French firms team up for low-carbon truck fuelling and charging network

A unit of French logistics giant CMA CGM, energy group Engie (ENGIE.PA) and motorway company Sanef are joining forces to explore building a European network of low-carbon truck fuelling and charging terminals, the companies said on Thursday.

Exclusive: C.H. Robinson in advanced talks to name Barber as new CEO

C. H. Robinson Worldwide (CHRW.O), the largest U.S. freight broker, is in advanced talks to name former United Parcel Service Inc (UPS) (UPS.N) chief operating officer Jim Barber as chief executive officer after the departure of Bob Biesterfeld, two sources familiar with the discussions said.

Boeing to set up 737 freighter conversion facility in India

Boeing Co (BA.N) said on Friday it would set up a facility in India to convert 737 passenger planes into dedicated freighters to tap into regional and global demand for the service.

Column: The ironic side effects of the rapid global energy transition

There's a consensus among some climate advocates that catastrophic global environmental damage can only be avoided by a rapid and comprehensive retooling of the world's energy system and tough caps on emissions for industry.

Container ship refloated in Egypt's Suez Canal after breakdown- Canal Authority

A container ship that broke down in Egypt's Suez Canal on Sunday causing some traffic to be diverted has resumed its journey, the Canal Authority said.

Analysis: Facing minefields and cash crunch, Ukraine farmers to sow smaller crop

Facing fields full of mines and short of cash, many Ukrainian farmers are likely to sow a smaller area this spring than they did following Russia's invasion, in what could be a further blow to global food supplies after disruptions last year.

Column: China props up U.S. corn, soy exports as other buyers stay quieter than usual

U.S. soybean exports flirted with record highs at the start of 2023 while corn shipments slacked, owing to last year’s huge Brazilian corn crop which was followed by a slow start to its current soy harvest.

Rheinmetall receives order to co-produce three-cylinder engines

Rheinmetall (RHMG.DE) is to partner with a company from Uzbekistan to co-manufacture three-cylinder engine blocks, the German arms maker said on Thursday.

 French strike disrupts Rhine river traffic

Rhine river traffic came to a standstill in some places on Wednesday due to strikes against French government plans to raise the pension age, with sections of the river in France, Germany and Switzerland affected, a CGT union representative and Germany's Waterways and Shipping Administration (WSA) said.

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