Best Buy Co. Inc. forecast fourth-quarter comparable sales below analysts’ estimates on Tuesday, as the electronics retailer braces for a hit from likely product shortages during the crucial holiday shopping season. The company’s shares, which have gained nearly 40 percent this year, fell 11.2 percent to $122.55 in premarket trading. Retailers are under tremendous pressure…
Best Buy Forecasts Holiday Quarter Sales Below Estimates as Supply Issues Loom
November 23, 2021
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Oil Prices Under Pressure From Both Supply and Demand Factors
November 22, 2021
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LONDON—Oil prices rose on Monday but remained under pressure from rising COVID-19 cases in Europe, raising concerns about both oversupply and weak demand. Prices of the Brent and U.S. West Texas Intermediate (WTI) crude benchmarks fell more than $1 in early trading, hitting their lowest since Oct. 1. By 1007 GMT, Brent was up 31…
Drug, Feed Ingredient Shortages Hit US Livestock Producers
November 19, 2021
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CHICAGO—Michigan dairy farmer Doug Chapin has been unable to buy bottles of veterinary penicillin for his cows for more than a month. In Minnesota, pig farmer Randy Spronk reformulated feed rations due to a shortage of the widely used ingredient lysine, an amino acid that helps livestock grow. Supply-chain disruptions are hitting America’s meat producers…
EU Says Chips Policy Aim Is to Ensure Resilient Supply Chain
November 18, 2021
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BRUSSELS—The European Union’s policy on state aid for the production of semiconductors will seek to avoid a subsidy race, and companies must aim for diversification to ensure a robust supply chain across the bloc, the European Commission said on Thursday. “Each case for the supply of semiconductors will be rigorously assessed based on their respective…
Japan’s Economy Shrinks More Than Expected as Supply Shortages Hit
November 15, 2021
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TOKYO—Japan’s economy contracted much faster than expected in the third quarter as global supply disruptions hit exports and business spending while new COVID-19 cases soured the consumer mood, undermining efforts to stoke a virtuous growth cycle. While many analysts expect the world’s third-largest economy to rebound this quarter as virus curbs ease, worsening global production…
NTD Business Full Broadcast (Nov. 9)
Prices paid to producers stay as high as they’ve been for decades. Gasoline was up almost 7% in the last month alone. General Electric announcing it’s splitting itself into three different companies, after years of its stock underperforming. How could splitting up help? And the supply chain crisis is affecting the pharmaceutical industry. Over 100…
German Industrial Production Drops in September on Supply Chain Shortages
November 5, 2021
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BERLIN—German industrial production unexpectedly fell in September, official data showed on Friday, as supply bottlenecks for raw and preliminary materials continued to take a toll on output in Europe’s biggest economy. The Federal Statistics Office said industrial output fell by 1.1 percent on the month after an upwardly revised drop of 3.5 percent in August….
Ralph Lauren Warns of Higher Supply Chain Costs to Meet Holiday Demand
November 2, 2021
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Ralph Lauren Corp. said on Tuesday it expects to face higher shipping and commodity costs in the next few months as the high-end apparel maker is spending heavily to ensure stores are stocked with its Polo shirts and sports jackets during the holiday season. The New York-based company’s shares fell 4 percent in morning trade…
Euro Zone October Factory Growth Hurt by Supply Woes, Price Pressures: PMI
November 2, 2021
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LONDON—Euro zone manufacturing activity remained strong last month but was curtailed by supply chain bottlenecks and logistical problems which sent input costs soaring, a survey showed on Tuesday. Ongoing disruptions caused by the coronavirus pandemic, alongside a shortage of heavy goods vehicle drivers, has caused product shortages and left factories struggling to get the raw…
Supply Chain Issues Slow French Manufacturing Growth in October: PMI
November 2, 2021
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PARIS—Supply chain issues hit France’s manufacturing sector in October, where the slowdown in growth came broadly in line with initial forecasts, a monthly survey showed on Tuesday. Data compiler IHS Markit said its final purchasing managers’ index for French manufacturing in October fell to 53.6 points from 55.0 in September, up a notch from an…
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