The consumer price index is back at its highest reading since 2008. Prices for essentials like food and energy are up significantly, so will the government still move forward with its massive spending plans? President Biden holds a meeting on supply chain issues, which are putting Christmas at risk. Experts tell us his plan does…
Not So Fast! Supply Bottlenecks Strain Fashion Chains
LONDON/LOS ANGELES—Supply bottlenecks, slower product deliveries, and higher freight and labor costs risk shifting the fast fashion industry into the slow lane, as shown this week by British online fashion retailer ASOS. A business model that aims to bring new styles into stores every three or so weeks and where shoppers expect to see fresh,…
UK Supply Chain Woes Set to Continue as Visa Offer Fails to Attract Foreign Truckers
Britain’s supply chain problems look set to continue after a senior government minister admitted that the UK’s offer of 5,000 temporary visas to foreign lorry drivers had attracted very little interest. Last month the government announced that it would issue 5,000 temporary visas to HGV drivers in an attempt to prevent shortages in the run-up…
US Rail Freight Feels Global Supply Chain Pinch
A product’s path from manufacturer to store shelf is currently an obstacle course of chokepoints within the interconnected global supply chain, and U.S. rail is among the industries feeling the pinch. U.S. railroads moved 1,167,682 carloads of freight in September 2021, the Association of American Railroads Weekly Rail Traffic Report shows. That’s up 4.3 percent…
Amid Supply Chain Crunch, Analyst Warns ‘There Will Definitely Be Weeping Children’ During Christmas
The supply chain crunch is starting to threaten holiday shoppers’ wishlists, said financial experts this week. “There will definitely be weeping children this holiday season,” Joel Bines, the co-head of AlixPartners’ retail consulting practice, told the Financial Times. “Black Friday doesn’t exist; the holiday season doesn’t exist, not as it used to,” he said, adding that…
Used-Car Prices Soar to Record High Amid New-Vehicle Inventory Slump
Wholesale used car prices hit a record high in September with the chip shortage and other supply constraints squeezing new-vehicle inventories and combining with strong demand to send prices soaring. The Manheim U.S. Used Vehicle Value Index rose 5.3 percent over the month in September and by 27.1 percent over the year to an all-time…
NTD Business Full Broadcast (Sept. 30)
Lawmakers are passing a bill to avoid a government shutdown, but another test of President Joe Biden’s agenda lay ahead as the House prepared to vote on the trillion-dollar infrastructure bill. Bed Bath & Beyond’s shares plunged after it slashed forecasts for the year. What does the company say is behind the missed expectations? Most…
Workers Who Maintain Supply Chains Warn of Worldwide ‘System Collapse’
Several industry groups have warned world leaders of a worldwide supply-chain “system collapse” due to pandemic restrictions, coming as Federal Reserve Chairman Jerome Powell suggested that the current period of higher inflation will last until 2022. The International Chamber of Shipping, a coalition of truck drivers, seafarers, and airline workers has warned, in a letter to…
Millions of Britons Could Face ‘National Shortage’ of Turkeys This Christmas
Millions of Britons could face a “national shortage” of turkeys, toys, and trees this Christmas due to a lack of skilled European employees following Brexit, according to the chair of a farming association. The Road Haulage Association (RHA) last month said the UK is facing a shortage of around 100,000 HGV drivers, which along with Brexit, has…
US Supply Chains Struggle as Economy Reopens
Vice President Kamal Harris recently made a strong suggestion that the public should start buying Christmas gifts now instead of waiting for later in the year—and there’s a good reason for this. Ports in theUnited States, particularly on the West and East Coasts, have a processing backlog which is leading to supply chain breakdowns. Ocean cargo…
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