The head of the Port of Long Beach, which has been dealing with unprecedented supply chain issues in recent days, said that people who want their Christmas items on time need to shop sooner than in previous seasons. “Shop early because these delays and bottlenecks are going to continue to the end of the year,”…
Top US Port Chief Warns: ‘Shop Early’ for Christmas Due to Supply Chain Crunch
London Stock Exchange Warns on Supply Chain Shortages
October 22, 2021
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London Stock Exchange Group said it was on track to achieve cost savings from the integration of data platform Refinitiv after a steady third quarter, but warned supply chain shortages could impact the timing of its technology spending. The exchange said pro forma underlying income was 1.78 billion pounds ($2.46 billion) in the three months…
California Ports, Key to US Supply Chain, Among World’s Least Efficient
LOS ANGELES—Southern California’s Los Angeles and Long Beach ports handle the most ocean cargo of any ports in the United States, but are some of the least efficient in the world, according to a ranking by the World Bank and IHS Markit. In a review of 351 container ports around the globe, Los Angeles was…
Futures Flat on Worries Over Supply Chain Disruptions; Netflix Falls
October 20, 2021
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U.S. stock index futures were flat on Wednesday as investors weighed the impact of supply chain constraints and inflation on corporate earnings, while Netflix shares remained sluggish after its quarterly report. Netflix’s global sensation “Squid Game” helped lure more customers than expected, the world’s largest streaming service said as it predicted a packed lineup would…
China’s Economic Wobbles Cast Long Shadow for Asia
October 19, 2021
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SINGAPORE/SEOUL—China’s economic setbacks have darkened the outlook for countries in its orbit, from South Korea to Thailand, as a sharp factory slowdown and trade bottlenecks in the world’s second-largest economy hit Asia on the supply as well as demand sides. China’s gross domestic product faltered in the third quarter, data showed this week, with growth…
Oil Prices Scale $85 per Barrel on Back of Supply Deficit
October 15, 2021
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LONDON—Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products. Brent crude futures were up 80 cents, or 0.95 percent, to $84.80 a barrel at 0930 GMT. Front-month…
US Commerce Secretary Says No Denying Supply Chain Is a Problem
October 8, 2021
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WASHINGTON—U.S. Secretary of Commerce Gina Raimondo said on Friday that incremental improvements could be seen regarding supply chain disruptions but that the impact would continue into next year. “There’s a lot of work left to do,” Raimondo said on CNBC. “We’re making slow improvement. But there’s no denying that it’s a problem. I think we’re…
Oil Up as Industries Switch From Gas, Little Sign Supply Crunch Easing
October 8, 2021
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Oil prices rose on Friday, and were on track for gains of nearly 5 percent this week, on signs some industries have begun switching fuel from high-priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now. “A lot of catalysts are out there to keep the…
‘Containergeddon’: Supply Crisis Drives Walmart and Rivals to Hire Their Own Ships
October 8, 2021
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LOS ANGELES—The Flying Buttress once glided across the oceans carrying vital commodities like grain to all corners of the world. Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers, and Baby Alive Lulu Achoo dolls. The dry bulk cargo ship has been drafted into the service of retail giant Walmart, which is…
German Industrial Production Slumps on Supply Chain Disruption
BERLIN—German industrial output suffered its steepest drop in August since April last year, due to supply chain disruptions that are holding back growth in Europe’s biggest economy and hitting the auto sector particularly hard, official data showed on Thursday. The Federal Statistics Office said industrial output fell by 4.0 percent on the month after an…
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