The need to know
The need to know for the week ending 19th March 2021
The need to know from Reuters’ global network of journalists
Honda Motor Co said late Tuesday supply chain issues will force a halt to production at a majority of U.S. and Canadian auto plants for a week.
Japanese carmaker Honda Motor Co will temporarily suspend production at its plants in Mexico beginning on March 18 due to supply chain problems related in part to pandemic disruptions, a company spokesperson said Wednesday.
Credit Suisse has frozen four funds in its asset management unit that had invested in its supply chain finance strategy as it grapples with the fallout from the collapse of $10.1 billion worth of funds linked to British financial services firm Greensill Capital.
Operations at South Korean steelmaker Posco’s plant in India’s western state of Maharashtra have been disrupted by protests over labour and other issues, police and sources told Reuters, hampering the supply chain for automakers.
Toyota Motor Corp and Honda Motor Co Ltd announced on Wednesday new North American production cuts, citing supply chain issues that have wreaked havoc with the auto industry.
Britain said on Thursday that there were lumps and bumps in the global vaccine supply chain that were causing slower deliveries than expected and scolded the European Union for threatening to slap a ban on vaccine exports.
Three major U.S. drug distributors have requested the government to expand the COVID-19 vaccine supply chain network as the country strives to immunize its population against the novel coronavirus as quickly as possible.
Tightness on the London Metal Exchange (LME) contract remains acute. The massive premium for prompt delivery has enticed a trickle of metal into exchange warehouses, but not enough to tame market wildness.
The Screwfix unit of British home improvement retailer Kingfisher plans to open more than 50 new stores in the UK and Ireland this year, creating 600 jobs, it said on Monday.
Unions in Italy said on Thursday they had called on workers at Amazon’s logistics operations in the country to go on a 24-hour strike on March 22 after talks with a business lobby group over working conditions of delivery service suppliers broke down.
India will require e-commerce firms to treat sellers equally on their platforms and ensure transparency, according to a draft policy seen by Reuters on Saturday that follows criticism against business practices of big online companies.
China’s market regulator on Tuesday tightened scrutiny over the country’s booming livestreaming e-commerce platforms, where internet influencers sell goods directly to consumers, citing concerns about poor quality products and misleading advertising.
Pinduoduo Inc’s founder Colin Huang Zheng stepped down as chairman on Wednesday, even as the firm overtook rival Alibaba to become China’s largest e-commerce platform by users.
German online fashion retailer Zalando said on Monday its revenue expectations for 2021 were significantly above market projections, following a strong start to the year.
Leading Japanese lenders have joined an initiative that links the provision of shipping finance to cuts in carbon dioxide emissions as the sector accelerates efforts to go green.
Shipping and trade groups are calling on the European Union to advance the development of ammonia and green hydrogen as the best marine fuel options to enable the industry to accelerate decarbonisation.
From elsewhere around the web:
Deutsche Bank on import bonanza: ‘You ain’t seen nothing yet’. [FreightWaves]
Packaging automation hits fast track in 2021. [Supply Chain Dive]
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