The need to know
The need to know for 6th January 2023
The need to know from Reuters’ global network of journalists
China's factory activity shrank for the third straight month in December and at the sharpest pace in nearly three years as COVID infections swept through production lines across the country after Beijing's abrupt reversal of anti-virus measures.
The U.S. trade deficit contracted by the most in nearly 14 years in November as slowing domestic demand amid higher borrowing costs depressed imports.
U.S. manufacturing contracted further in December, but weakening demand amid higher borrowing costs pushed a measure of prices paid by factories for inputs to the lowest level in more than 2-1/2 years, signaling that goods disinflation was underway.
The downturn in euro zone manufacturing activity has likely passed its trough as supply chains begin to recover and inflationary pressures ease, a survey showed on Monday, leading to a rebound in optimism among factory managers.
Fading supply chain problems helped ease the downturn in Germany's manufacturing sector in December, although weaker demand continues to weigh on sentiment, a survey showed on Monday.
British manufacturers are starting 2023 on the back foot, after they reported one of their sharpest falls in activity since the 2008-09 recession last month, reflecting a sharp fall in new orders and ongoing job cuts.
Manufacturing slumps in Poland and the Czech Republic eased slightly in December although activity remained deep in negative territory, with high prices cutting demand and firms reducing staff in response, surveys showed on Monday.
World food prices eased in December marking the ninth consecutive monthly fall, but gained more than 14% in 2022 compared to the previous year, to reach the highest since records began, the U.N. food agency said on Friday.
U.S. manufacturers reported business activity declined for the second month running in December and the sector appears to be on the leading edge of a recession.
Russia is set to increase its diesel exports next month before European Union sanctions on crude oil start in February, Bloomberg News reported on Friday.
U.S. online spending during the 2022 holiday season rose by a better-than-expected 3.5%, a report by Adobe Analytics showed, as retailers used hefty discounts to lure inflation-weary consumers into spending on everything from toys to electronics.
For U.S. automakers, 2023 is all about trying to stay in their lane. Covid-19-era supply squeezes sent car prices soaring, adding $7 billion to operating profit at General Motors in 2021 alone.
Foxconn’s most important project in 2023 will be to remake itself.
Tesla Inc (TSLA.O) said quarterly deliveries fell short of market estimates on Monday, held back by ongoing logistical issues and growing demand concerns that rounded off a tumultuous 2022 for the Elon Musk-led firm.
Toyota Motor Corp (7203.T) on Wednesday posted a 9.6% fall in its 2022 U.S. new vehicle sales as a shortage of semiconductor chips and rising costs hampered the Japanese automaker's production earlier in the year.
Microsoft Corp is in advanced talks to invest in Gatik, a California-based autonomous driving startup, as part of its cloud partnership with the company, two people familiar with the discussions told Reuters.
The Nevada Department of Motor Vehicles (DMV) said on Thursday that German carmaker Mercedes-Benz (MBGn.DE) can deploy advanced automated driving systems on its roads after it completed a self-certification.
French-based shipping group CMA CGM has completed its withdrawal from the Russian market by divesting stakes in terminals through an asset swap, the company said.
After years of relatively low international profile, tropical forests are roaring back into the headlines.
Amazon.com (AMZN.O) can’t always dominate everything – and that might be a strength.
Apple Inc (AAPL.O) is set to sign up Chinese contract manufacturer Luxshare Precision Industry Co Ltd (002475.SZ) to produce premium iPhone models, the Financial Times reported on Wednesday, citing sources familiar with the matter.
Dell Technologies Inc (DELL.N) plans to stop using China-made chips by 2024 and has told suppliers to reduce the amount of other made-in-China components in its products amid concerns over U.S.-Beijing tensions, the Nikkei reported on Thursday.
Greece announced on Wednesday additional measures to deal with certain drug shortages, a problem it said was global and attributed to an increase in seasonal virus infections, supply chain issues, the energy crisis and reduced exports from Asia.
A U.S. judge in Virginia on Tuesday blocked freight carrier CSX Transportation Inc from pursuing federal antitrust claims alleging a top rail industry rival has cost it hundreds of millions of dollars in damages in lost customer contracts.