The need to know

The need to know for the week ending 17th March 2023

The need to know from Reuters’ global network of journalists

Volkswagen picks Canada for first battery cell plant outside Europe

Volkswagen (VOWG_p.DE) chose Canada to build its first battery cell plant outside Europe, granting its cars access to both Canadian and U.S. subsidies as it works to localise electric vehicle production chain in the region.

Apple supplier Foxconn steps up investment outside China, as consumer electronics demand dips

Apple Inc supplier Foxconn (2317.TW) on Wednesday said it plans to ramp up investment outside of China and efforts to attract automakers to its contract manufacturing business, as the company reported weaker demand for consumer electronics.

ABB invests in US robot factory as reshoring trend hots up

ABB (ABBN.S) is expanding its main US robot factory as its customers there in the automotive, packaging and machinery industries confront a tight labour market as they bring production back home.

Japan, Canada in talks over collaboration in battery metals supply chain

Japan and Canada are discussing collaboration on building strong supply chains for battery metals, Japan's industry minister, Yasutoshi Nishimura, said on Tuesday.

Germany to seek closer economic ties with Japan amid supply chain tension

German Chancellor Olaf Scholz will touch down in Japan on Saturday with six of his ministers seeking closer economic ties, as he considers reducing German dependence on Chinese raw materials amid global supply chain tensions.

U.S. seeks closer India tech ties; no China "decoupling"- U.S. commerce secretary

India could become a key supplier of electronic parts and hardware for the United States, U.S. Commerce Secretary Gina Raimondo said on Friday, adding that Washington was not seeking a "technological decoupling" from China.

Exclusive: TSMC's Germany chip plant talks hone in on govt subsidies -sources

Taiwan chipmaker TSMC's (2330.TW) talks with the German state of Saxony about building a new factory are at an advanced stage and are now focused on government subsidies to support the investment, two people familiar with the matter said.

Samsung Electronics to invest $230 bln through 2042 in South Korea chipmaking base

South Korean tech giant Samsung Electronics (005930.KS) expects to invest $230 billion over the next 20 years to develop what the country's government called the world's largest chip-making base, in line with efforts to boost the national chip industry.

After strategic 787 wins, Boeing jet battle shifts to factory floor

A major purchase by Saudi Arabia caps sales of almost 200 Dreamliners over the past four months, handing Boeing Co (BA.N) major industrial and political wins in lucrative widebody sales against European rival Airbus (AIR.PA).

GE lends helping hands to jet engine suppliers to sidestep supply-chain challenges

CINCINNATI, March 10 (Reuters) - General Electric Co (GE.N) sent 12 machinists from its Rutland, Vermont, facility across the country last fall to help a sub-supplier in Arizona that was so short of workers it could not add a second work shift.

Airbus exec says checking on health of small suppliers

Planemaker Airbus (AIR.PA) has measures in place to stabilise global pressure on its supply chains and is making increased checks about the financial health of small suppliers, a senior executive said on Thursday.

Analysis: Airbus faces steep climb in 'make or break' delivery year

Airbus (AIR.PA) and U.S. rival Boeing (BA.N) were locked in a dead heat for deliveries for the first two months of the year, but the European planemaker has a tougher task to meet annual forecasts amid ongoing supply woes.

Column: U.S. freight movements fall amid excess inventories

U.S. manufacturers and distributors are still struggling to digest excess stocks of raw materials and finished products ordered before an abrupt slowdown in merchandise spending in the second half of 2022.

Explainer: Can Ukraine's grain corridor ease the global food crisis?

Russia has proposed that a U.N.-backed initiative that has enabled grains to be exported from Ukraine's Black Sea ports should be renewed for just 60 days.

Food brands struggling to weather the 'polycrisis' unleashed by war and climate change

If you were looking to make a Greek salad in the UK in late February of this year, you would have had to get creative in the kitchen. With national shortages of tomatoes and cucumbers, not to mention peppers and lettuce, salad of any description was proving somewhat of a culinary luxury.

VW's Skoda in final stages of exit from Russia

Czech carmaker Skoda Auto, part of the Volkswagen Group (VOWG_p.DE), is in the final stages of quitting Russia after taking an almost 700 million euros ($742 million) hit from the impact of Moscow's war in Ukraine, its CEO said on Thursday.

GM extends production halt at Mexico truck plant over supply chain issue

General Motors (GM.N) said on Tuesday its Silao Assembly Plant in Mexico that makes Chevrolet and GMC pickup trucks will extend a production halt through March 20 because of an undisclosed temporary supply chain issue.

Shein, Temu in fierce fight over US market for $10 dresses

Online fast-fashion retailer SHEIN and its newer rival Temu are in a race to win shoppers' attention for their inexpensive China-made goods.

S&P Global acquires firm to bolster capability to track commodity shipments

S&P Global Commodity Insights said on Monday it has acquired UK-based technology firm Tradenet and its live vessel-tracking platform Market Intelligence Network (MINT) to bolster its capability to track and analyse commodity shipments.

Decarbonisation centre starts 5-yr partnership with container shipper MSC

The Global Centre for Maritime Decarbonisation (GCMD) and MSC Mediterranean Shipping Company (MSC) on Thursday said they have signed a five-year agreement to work on decarbonising the shipping industry.

MercadoLibre to invest $3.6 billion in Brazil this year

MercadoLibre Inc. (MELI.O) said on Thursday it expects to invest 19 billion reais ($3.60 billion) in Brazil in 2023, 11.5% more than the amount invested in the previous year.

Poles feel the pinch as inflation hits peak

Polish consumers say they are struggling to pay household bills and buy basic groceries as price rises have reached their steepest in more than a quarter of a century.

Japan exports up for 2 straight yrs but global headwinds point to soft outlook

Japan posted two straight years of export gains, led by solid U.S.-bound shipments of cars, although expectations of a strong recovery in demand are quickly fading amid global monetary tightening and worries about banks worldwide.

Chinese consumers out of COVID gates with caution, rather than zest

Chinese consumers, unshackled from COVID-19 restrictions, are returning to hotels, restaurants and some shops, but they are choosy about what they buy, disappointing hopes for an immediate post-pandemic splurge.

Etsy, other e-commerce companies feel squeeze of SVB collapse

Etsy (ETSY.O) on Monday resumed payments to merchants with Silicon Valley Bank accounts after the e-commerce platform paused their payouts over the weekend following the U.S. government shutdown of the bank last week.

Greek rail services to resume gradually from March 22

Greece will next week start resuming rail services suspended following a train crash, the country's deadliest rail disaster on record, a state minister overseeing transport said on Tuesday.

BNSF says train carrying corn syrup derailed in Arizona

BNSF Railway confirmed on Thursday that a train carrying corn syrup derailed near Topock in western Arizona close to the California border on Wednesday, with preliminary reports indicating no involvement of hazardous materials.

FedEx raises full-year earnings forecast after cost cuts, shares soar

FedEx Corp (FDX.N) on Thursday raised its fiscal 2023 profit forecast despite weak market conditions, citing progress on its plan to shave $3.7 billion in costs from its global delivery business, sending its shares up more than 11%.

Alternative to WTO trade arbitration gains steam as Japan joins

Japan has become the latest country to join an alternative mechanism for resolving disputes to the World Trade Organization, it said in a statement on Friday, in a move that observers say could urge others to follow suit.

Rivian, Amazon in talks to end exclusivity part of electric van deal - WSJ

Electric-vehicle maker Rivian Automotive Inc (RIVN.O) and its largest shareholder Inc (AMZN.O) are in talks to end the exclusivity part of their electric van deal, the Wall Street Journal reported on Monday citing people familiar with the matter.

Norfolk Southern to give up to seven paid sick days per year to union members

U.S. rail operator Norfolk Southern Co (NSC.N) said on Friday it has reached an agreement with two of its labor unions to provide up to seven paid sick days a year to its members.

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