Renewed outbreaks of COVID-19 in Asia are compounding the global supply chain problems that began at the onset of the pandemic and shutdown measures last year. The latest wave of infections in Malaysia and other Southeast Asian countries has led to closures of plants and ports, causing severe disruptions in the supply of semiconductors and raw materials….
Supply Chain Crisis Threatens to Derail UK Recovery Says Business Group
The UK is set to see a sharp slowdown in economic growth as the mounting supply chain crisis and staff shortages threaten to derail Britain’s recovery, according to a major business group. The British Chambers of Commerce (BCC) warned there was also a “real danger” the government’s health and social care levy could further stifle…
Goldman Sachs Lowers US Growth Forecast Amid COVID-19 Delta Variant And Fading Fiscal Support
September 7, 2021
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Economists at Goldman Sachs Group Inc. have lowered their forecast for growth in the U.S. economy this year for a second time, citing the COVID-19 Delta variant and dwindling fiscal support and pointing to a “harder path” ahead for the American consumer than previously anticipated. In a report to clients on Monday, economist Ronnie Walker wrote…
Australian Supermarkets Run Short as Delta Forces Thousands of Workers Into Isolation
September 6, 2021
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Shelves at major supermarket chains remain empty after thousands of workers were forced into self-isolation after coming into close contact with individuals infected with COVID-19. Customers uploaded photos of Australia’s two largest supermarket chains—Coles and Woolworths—showing shelves devoid of fruits, vegetables, meats, bread, and dairy products. One Twitter user wrote, “Coles in Katoomba is looking…
Tesla’s Musk Says 2021 Has Been Year of ‘Super Crazy’ Supply Chain Shortages
Tesla Inc. top boss Elon Musk said on Wednesday that 2021 has been the year of “super crazy supply chain shortages” and pointed to potential delays in shipments. “2021 has been the year of super crazy supply chain shortages, so it wouldn’t matter if we had 17 new products, as none would ship,” Musk said…
Milkshakes Off the Menu as UK McDonald’s Hit by Supply Chain Issues
Fast food giant McDonald’s has run out of milkshakes in all of its UK restaurants due to supply chain problems. The burger chain has also been left without bottled drinks across its 1,250 outlets in England, Scotland, and Wales. A spokesman said the group is “working hard to return these items to the menu.” He…
UK Manufacturers Hit by Record Stock Shortages as Industry Growth Slows
UK manufacturers saw output growth for the past three months ease back from record highs as firms saw stock shortages strike record levels. The latest monthly industrial trends survey by the Confederation for British Industry (CBI) said activity was “strong” as order books remained “firm.” The survey of 262 major manufacturers found that output increased…
Semiconductors Key to US Supremacy in High-Tech War
WASHINGTON—The global semiconductor shortage during the pandemic has intensified the battle for technological dominance between the world’s two largest economies. Supply chain shocks and growing tensions with China are forcing the U.S. government to enter the subsidy war to protect American leadership in semiconductors and future technologies. Microchips smaller than postal stamps are the brains…
Bipartisan Bill Seeks to Make US Pharmaceutical Supply Chain Less Dependent on Foreign Countries Like China
A bipartisan group of lawmakers on Wednesday reintroduced a bill that would make the U.S. pharmaceutical supply chain less dependent on foreign countries like China. The legislation will help mitigate drug shortages while incentivizing the domestic production of drugs, active pharmaceutical ingredients (API), personal protective equipment (PPE), and diagnostics, according to Rep. Earl L. “Buddy” Carter (R-Ga.), one of…
NTD Business Full Broadcast (June 8)
Colonial Pipeline’s CEO testifies before Congress, discussing the ransomware attack last month that led to skyrocketing gas prices. Does he regret paying the ransom? The White House launching a new task force Tuesday, to bring back supply chains of critical products and target China’s unfair trade practices. A software company, one of bitcoin’s biggest backers, is issuing bonds…
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