The United States and the European Union must avoid a subsidy race as they rush to support semiconductor production amid a global chip shortage, EU Competition Commissioner Margrethe Vestager said on Friday. “We really need to avoid a subsidy race, a race that leaves everyone poorer off,” Vestager said in a speech at the University…
US, EU Must Avoid Subsidy Race Amid Chip Shortage: EU’s Vestager
November 12, 2021
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GM Outlook Doesn’t Impress, Sees Chip Shortage Continuing; Shares Drop
October 27, 2021
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DETROIT—General Motors Co. said on Wednesday its quarterly profit was hit by the global semiconductor shortage that it sees continuing until late 2022, and offered a full-year profit forecast that disappointed Wall Street, sending shares down more than 3 percent in premarket trading. The Detroit automaker’s quarterly profit and revenue fell due to a drop…
Honeywell Cuts Full-Year Sales Target on Parts Shortage
Honeywell International Inc. on Friday cut its full-year sales forecast, as global supply chain disruptions cause a shortage of parts and components for the U.S. industrial conglomerate. Closed ports due to a resurgence of COVID-19 cases in Asia, aggravated by the fast-spreading Delta variant, and labor shortages have strained global supply chains as well as…
Rising Price of Imported Coal Sparks India’s Biggest Electricity Crisis
India, the second-most populous country in the world, is facing an unprecedented electricity crisis due to a shortage of coal, which is disrupting the production in thermal power plants. India’s coal-fired, thermal-power plants account for nearly 54 percent of the country’s electricity generation capacity. The disruptions have caused some states to resort to limited daily power…
HGV Driver Shortages ‘Not Getting Better’ and Could Last a Year, MPs Told
The UK’s lorry driver shortage is “not visibly getting better” and could take around a year to recover, industry bosses have told MPs. Bosses from the haulage, recruitment, and food sectors warned ministers at the government’s Business, Energy, and Industrial Strategy committee over the current scale and impact of drive shortages. The Road Haulage Association…
Ford to Suspend Production on Friday at Mexico Plant on Materials Shortage
October 15, 2021
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MEXICO CITY—U.S. automaker Ford Motor Co. will temporarily suspend production on Friday at its Hermosillo plant in Mexico’s Sonora state due to a shortage of materials, the plant’s labor union said on Thursday. Workers will be paid 75 percent of salaries on Friday, the union added. Ford had also suspended production from Oct. 11–12 at…
Delhi Chief Minister Warns of Power Crisis Due to Coal Shortage
NEW DELHI—Delhi Chief Minister Arvind Kejriwal on Saturday warned of a power crisis in the Indian capital due to a coal shortage, which has already triggered electricity cuts in some of the country’s eastern and northern states. “Delhi could face a power crisis,” Kejriwal said in a tweet in which he also shared a copy…
Audi CEO Sees Chip Shortage as ‘Perfect Storm’ but Will Get Through It
FRANKFURT—Premium car brand Audi, Volkswagen’s biggest profit contributor, has to troubleshoot on a day-to-day basis to tackle an ongoing shortage of auto chips, its chief executive said. “We had a very strong first half in 2021. We do expect a much weaker second half. We really have trouble,” Markus Duesmann told Reuters ahead of the…
US Auto Sales Slump, Stalled by Car Computer Chip Shortage
October 2, 2021
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DETROIT—In a normal month before the pandemic, Con Paulos’ Chevy dealership in Jerome, Idaho, sold around 40 new vehicles. In September, it was only six. Now he’s got nothing new in stock, and every car, truck or SUV on order has been sold. Last month, what happened at his dealership about 115 miles (185 kilometers)…
GM, Ford Extend Some Production Cuts Due to Chip Shortage
October 1, 2021
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WASHINGTON—General Motors Co. and Ford Motor Co. said Thursday they will cut additional production because of the nagging semiconductor shortage that has hit global auto production. GM, the largest U.S. automaker, said it will extend by two weeks a halt to Chevrolet Blazer sport utility vehicle production at its Ramos plant in Mexico because of…
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