The need to know
The need to know for the week ending 30th March 2023
The need to know from Reuters’ global network of journalists
German supply chain shortages ease but long way to go - ifo
German manufacturers are seeing fewer material shortages but Europe's largest economy is still a long way away from an ideal supply situation, according to an economic survey published on Thursday.
Supply shortages threaten U.S. infrastructure and war efforts
Manufacturers of everything from pickup trucks to homes are still grappling with tight supplies of microchips and cement - shortages that could translate into delays and higher costs for federal efforts to arm Ukraine against Russian aggression and rebuild U.S. crumbling infrastructure and manufacturing.
Germany at a standstill as huge strike halts planes and trains
Airports and bus and train stations across Germany were at a standstill on Monday, causing disruption for millions of people during one of the largest walkouts in decades in Europe's biggest economy as soaring inflation stokes wage demands.
Mexico's Banorte to add 800 jobs to tap into nearshoring
Mexican lender Grupo Financiero Banorte (GFNORTEO.MX) is preparing to hire 800 new employees to tap into growing demand from global companies moving their manufacturing operations to Mexico, its chairman told Reuters.
Prada aims to hire over 400 workers in Italy this year
Prada (1913.F) aims to hire more than 400 people in Italy by the end of the year to strengthen its production capacity and maintain growth, the Italian luxury group said on Thursday.
Another cultish cost-saving formula gets off-track
Beware the company, or industry, with a one-track mind.
Airline, banking and rail oversight top U.S. progressives' wish list for Biden
Liberal Democrats in the U.S. Congress called on President Joe Biden on Thursday to take executive action to crack down on misconduct in the banking, airline and rail transportation industries.
Polish e-commerce firm Allegro eyes higher Q1 profit, shares rise
Poland's biggest e-commerce platform Allegro (ALEP.WA) said it expects core earnings to rise in the first quarter as it focuses on cost control, sending its shares up as much as 15% on Thursday.
Alibaba's logistics unit gears up for Hong Kong IPO - Bloomberg News
Alibaba Group Holding Ltd's (9988.HK) logistics arm Cainiao Network Technology has started preparations with banks for its Hong Kong initial public offering, Bloomberg News reported on Thursday, citing people familiar with the matter.
Factbox: How Alibaba's six new business units stack up
Chinese e-commerce giant Alibaba Group (9988.HK), announced on Tuesday it will split into six business units, each with its own CEO and board of directors, and adopt a holding company management model, in the biggest revamp of its 24 year history.
Japan restricts chipmaking equipment exports as it aligns with US China curbs
Japan said on Friday it will restrict exports of 23 types of semiconductor manufacturing equipment, aligning its technology trade controls with a U.S. push to curb China's ability to make advanced chips.
China tackles chip talent shortage with new courses, higher pay
China is ramping up efforts to develop home-grown semiconductor talent as it seeks to rapidly fill a shortage of expertise that has been made worse by U.S. efforts to limit Beijing's access to advanced chip technology.
US puts trade curbs on 5 Chinese firms over alleged role in Uyghur repression
The Biden administration on Tuesday imposed new trade restrictions on five Chinese companies for allegedly aiding in the repression of the Uyghur Muslim minority but China rejected the accusation as "lies" aimed at constraining it.
US goods trade deficit widens as exports decline
The U.S. trade deficit in goods widened modestly in February as exports declined, potentially setting up trade to be a small drag on economic growth in the first quarter.
Slower China factory activity growth challenges economic recovery prospects
China's manufacturing activity expanded at a slower pace in March, official data showed on Friday, raising doubts about the strength of a post-COVID factory recovery amid weaker global demand and a property market downturn.
Euro zone services firms enjoy buoyant March but factories struggle -flash PMI
Business activity across the euro zone unexpectedly accelerated this month as consumers splashed out on services, but weakening demand for manufactured goods deepened the downturn in the factory sector, surveys showed.
Pirates board Danish-owned ship in Gulf of Guinea
Pirates have attacked and boarded a Danish-owned ship in the Gulf of Guinea and all communications channels with the vessel are down, a spokesperson for shipping company Monjasa said on Tuesday.
Europe throws ignition cars a thin lifeline
Combustion engines will live to die another day. Bowing to pressure from automaking Germany, the European Union has agreed to exempt cars that run on carbon-neutral synthetic fuel from a ban on new combustion engine vehicles in 2035.
Column: Europe turbo charges its critical minerals drive
The European Union has unveiled the accelerator in its drive to reduce the bloc's import dependency for critical minerals and metals.
Logistics startup Lalatech files application for Hong Kong IPO
Hong Kong-based on-demand logistics startup Lalatech Holdings Limited, backed by Hillhouse and Sequoia Capital, has submitted an application to the Hong Kong stock exchange for an initial public offering (IPO).
InPost sees better margin in Poland, plans no job cuts this year
Parcel locker firm InPost (INPST.AS) forecast on Friday margin improvement in its key Poland market and ruled out job cuts and more price hikes this year, as it benefits from cutting costs and growing parcel volumes.
China's JD.com to spin off industrial, property units in $1 bn Hong Kong floats
E-commerce firm JD.com Inc (9618.HK) is planning to spin off its property and industrial units and list them on the Hong Kong stock exchange in deals worth $1 billion each, two people with direct knowledge said on Friday.
Yara and Enbridge plan $2.9 bln ammonia plant in Texas
Norway's Yara (YAR.OL) and Canada's Enbridge (ENB.TO) plan to invest up to $2.9 billion to build a low-carbon blue ammonia production plant in Texas, they said on Friday.
From foe to friend? The brands seeking to partner with indigenous peoples to end deforestation
Nestle, Mars Inc and 3M, which source pulp and paper in British Columbia, have struck a partnership with the Tsay Keh Dene First Nation people, supporting their efforts to protect key parcels of land with cultural significance.
UK's Feb car output jumps 13.1% as supply-chain snags ease
British car production rose 13.1% in February in its first monthly increase in three, helped by an easing of supply-chain snags and robust output in both domestic and overseas markets.
BMW bets on design and recycling, not mining, to lower battery costs
BMW (BMWG.DE) is betting on efficient design and recycling to bring down battery costs and is steering clear of investing in mines, its finance chief said on Friday, setting it apart from some competitors digging deep into the supply chain.
Japan to sign mineral supply chain agreement with US, subject to EV tax cut -minister
Japan will sign a mineral supply chain agreement with the United States that will give U.S. tax incentives for electric vehicles made with metals processed in Japan, trade minister Yasutoshi Nishimura told reporters on Tuesday.