LONDON—Oil prices edged up on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections. Brent crude rose 19 cents, or 0.2 percent, to $81.94 a barrel at 1006 GMT, and U.S. West Texas Intermediate (WTI) crude was up 20 cents, or 0.3 percent, at $79.10…
Oil Price Rises as Kazakh Turmoil Adds to Supply Worries
LONDON—Oil prices rose and were heading for their biggest weekly gains since mid-December on Friday as unrest in Kazakhstan and outages in Libya fuelled concerns over supply. Brent crude climbed 76 cents, or 0.9 percent, to $82.75 a barrel at 0939 GMT. U.S. West Texas Intermediate (WTI) crude rose 77 cents, or 1 percent, to…
Ikea Confirms 10 Percent Price Hike in UK Due to Supply Chain Costs
Flatpack furniture specialist Ikea has confirmed it has increased the average price of products in its UK stores by 10 percent due to rising supply chain costs. The retailer said it has been forced to increase prices in the UK by more than the global 9% average due to “local market conditions”, including increased HGV…
US Auto Sales to Fall in December Due to Supply Constraints: Data
U.S. auto retail sales are expected to fall in December, as supply shortages and high demand have caused prices to skyrocket, consultants J.D. Power and LMC Automotive said in a report released on Thursday. Retail sales of new vehicles could fall 17.7 percent to 2,923,600 units from a year earlier, the report said. “Intense demand…
US Transportation Secretary Announces Over $241 Million in Grants for US Ports
December 24, 2021
admin
Business & EconomyBusinesses in COVID-19economygrantsPete ButtigiegportsRegional-Local NewssupplytransportationUSUS News
0 Comment
The U.S. Transportation Secretary Pete Buttigieg announced over $241 million in discretionary grant funding for 25 projects to improve port facilities in 19 U.S. states and one territory to address supply chain challenges at ports. Buttigieg made the announcement in a statement released by the U.S. Department of Transportation on Thursday.
Japan Trade Recovers as Supply Chain Troubles Ease
December 16, 2021
admin
Asia & PacificBusiness & EconomyBusinesses in COVID-19chainChinaChina Business & EconomyCompanieseconomic policieseconomyGold & CommoditiesInternationalJapanMarketssupplytradetroublesWorld
0 Comment
TOKYO—Japan’s exports jumped 20 percent and imports rose at an even faster pace in November as disruptions to manufacturing supply chains eased. Preliminary trade data reported Thursday showed imports surging nearly 44 percent from a year earlier, pulling the country into a deficit, as surging oil prices pushed costs sharply higher. Iron and steel exports…
Supply Chain Disruptions Cloud German Machinery Outlook
December 14, 2021
admin
Business & EconomyBusinesses in COVID-19CCP ViruschainCompaniesDisruptionseconomyEuropeGermanInternationalmachineryMarketssupplyVDMAWorld
0 Comment
BERLIN—A group representing Germany’s machinery industry said Tuesday it expects a weaker rebound in production this year than previously forecast because of persistent supply chain bottlenecks. The VDMA group said it now expects production to grow by 7 percent this year to a value of about 219 billion euros ($247 billion), down from the 10…
Factories Facing Supply Headaches as Omicron Risks Emerge
December 1, 2021
admin
Asia & PacificBusiness & EconomyBusinesses in COVID-19CCP VirusChinaChina Business & EconomyCompanieseconomic policieseconomyEuropefactoriesGold & CommoditiesIndiainflationInternationalMarketsOmicronsupplyUKUSWorld
0 Comment
LONDON/TOKYO—Global factory activity accelerated in November although crippling supply bottlenecks remained, putting a cap on output and driving up the cost of raw materials, according to surveys published on Wednesday. Towards the end of the month, the newly-detected Omicron coronavirus variant emerged as a fresh worry for policymakers, who are already trying to pilot recovering…
Main IKEA Retailer’s Profits Jump Despite ‘Unprecedented Challenges’
November 30, 2021
admin
Business & EconomyBusiness ColumnistsBusinesses in COVID-19CompanieseconomyEuropeIKEAIngkaInternationalMarketsprofitssupplyWorld
0 Comment
STOCKHOLM—Ingka Group, the owner of most IKEA stores world-wide, reported on Tuesday a jump in annual profit on the back of record demand for home furnishing as people stay at home more due to the pandemic. Despite more temporary store closures due to pandemic related restrictions than the year before, and product shortages due to…
Deere Expects Bumper Year as Farmers Splurge on Equipment
Deere & Co. on Wednesday shrugged off the hit from a month-long worker strike to forecast record earnings for next year, banking on demand from farmers flush with cash after a run-up in grain prices. The world’s largest farm equipment maker also capped a year riddled with supply chain problems with its highest-ever profit of…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`