TOKYO—Nissan’s profit fell 68 percent in the last quarter as a shortage of computer chips hindered the Japanese automaker’s ability to deliver vehicles to its customers. Nissan Motor Co. reported Wednesday that its profit was 17.4 billion yen ($119 million) in the July-September, down from 54 billion yen the same period a year earlier. Quarterly…
Diesel Shortage Testing Biden’s Take on ‘America First’: Industry Insider
November 2, 2022
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How the Biden administration addresses the shortage of distillate fuel oil in the United States will show if President Joe Biden will put America first, said a U.S. energy expert. “From the consumers’ standpoint, [it will show] who the Biden administration protects most, Europeans or their own citizens?” John Hunt, who worked in the energy…
Toyota Cuts Output Target Amid Chip Crunch as Profit Tumbles 25 Percent
TOKYO—Toyota Motor Corp on Tuesday posted a worse-than-expected 25 percent drop in quarterly profit and cut its annual output target, as the Japanese firm battles surging material costs and a persistent semiconductor shortage. The world’s biggest automaker by sales also warned that it remained difficult to predict the future after posting its fourth consecutive quarterly…
Diesel Shortage Spreads Across East Coast as Goldman Sachs Issues Warning
A diesel fuel shortage is spreading across the eastern United States as one company has launched an emergency delivery rule. Mansfield Energy is now requiring a 72-hour notice for deliveries to obtain freight and fuel “because conditions are rapidly devolving,” the firm told customers, according to Bloomberg News. Fuel prices are running 30 to 80…
Abbott Nutrition to Invest $500 Million in Infant Formula Manufacturing as Shortages Continue
Abbott Nutrition has announced plans to invest half a billion dollars in an infant formula manufacturing facility, saying that it has determined that the domestic supply chain for formula needs to be bolstered amid capacity shortfalls. “We’re moving forward with plans for a half-billion-dollar investment in a new U.S. nutrition facility for specialty and metabolic…
Quebec Rejects Plea to Send Army to Northern Region Facing Health Worker Shortage
Quebec’s Health Department says it has rejected a request from officials in the northern region of Nunavik that the Armed Forces be brought in to help ease a shortage of health-care workers. Kathleen Poulin, a spokeswoman for Nunavik Regional Board of Health, says labour shortages in the health sector are hitting Nunavik particularly hard due…
Enfamil Maker Reckitt Flies Baby Formula to US From Singapore
LONDON—Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, aiming to end a months-long shortage in the United States by late summer, a senior executive said. Similac maker Abbott Laboratories in February recalled dozens of types of baby formula, taking the country’s biggest industry player…
Target to Add Bobbie Brand Infant Formula to Stores as Shortage Persists
July 14, 2022
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NEW YORK—Target Corp. has begun carrying Bobbie brand infant formula in some stores this week and the vast majority of its locations will be selling the product by September, as the national shortage persists. Bobbie, which has previously sold to consumers exclusively through its website, has increased its manufacturing output over the last few months…
US FDA Working to Allow Overseas Infant Formula Beyond Shortage
The U.S. Food and Drug Administration is looking at ways to allow overseas manufacturers of baby formula to keep selling in the country beyond the current shortage, the health regulator said on Wednesday. The FDA in May said it would allow baby formula imports until Nov. 14 to ease a shortage that had left parents…
Germany Risks Recession as Russian Gas Crisis Deepens
BERLIN/COPENHAGEN—Germany faces certain recession if already faltering Russian gas supplies completely stop, an industry body warned on Tuesday, as Sweden joined a growing list of European nations rolling out emergency plans to cope with a deepening energy supply crisis. European Union countries from the Baltic Sea in the north to the Adriatic coast in the…
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