Banks in the United Kingdom are preparing to again roll out lockdown plans used during the COVID-19 pandemic in an effort to stave off potential power shortages this winter amid an energy crisis. A number of banks, lenders, building societies, and branch officers of overseas banks have been holding regular joint discussions and reexamining policies, such as…
UK Banks Prepping for Power Blackouts as Winter Energy Crisis Looms
Prices of Airline Tickets Stay High as Upkeep Woes Crimp Fleets
SINGAPORE— Labour shortages and supply chain snarls are making it harder for airlines and lessors to return airplanes grounded during the pandemic to the skies as quickly as they would like, operators and maintenance providers say. A global squeeze on maintenance, repair, and overhaul (MRO) capacity is one of the factors contributing to higher airfares…
Nearly 90 Percent of Firms Still Experiencing Supply Chain Disruptions, Many Say It’s ‘Severe’: Study
Nearly 90 percent of businesses with operations at the Fort Lauderdale port Florida are still experiencing supply chain disruptions owing to the COVID-19 pandemic, according to a business survey by a researcher at Florida Atlantic University. Results from the inaugural Port Everglades Economic Engine Performance Index show that nearly 90 percent of survey respondents said they’re still experiencing…
Drivers Face Black or White Choice to Speed up New-Car Delivery
PARIS—For Emilie Malherbe, choosing the color of her brand new Renault Arkana SUV was easy because only three were available: black, pearl-white, and gray. She and her husband swiftly settled on gray because what mattered most was getting the car delivered quickly. “We heard on television that we could face delays of six to eight…
American Loathing of Inflation Is in the Cultural DNA
July 11, 2022
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Analysis This morning I was speaking with a gentleman who lives in New York City. He is highly trained. He has a good job. He is professionally ambitious. But, he says, these days he is struggling to afford food. After the high expense of rent and transportation, along with all the other strange ways the…
Japan Business Mood Worsens on Hit From China’s Lockdown, Rising Costs
TOKYO—The mood among Japan’s big manufacturers’ soured for a second straight quarter in the three months to June, a central bank survey showed on Friday, hit by rising input costs and supply disruptions caused by China’s strict COVID-19 lockdowns. But confidence among big non-manufacturers improved in the quarter, the “tankan” quarterly survey showed, suggesting service-sector…
GM Vehicle Sales Tumble 15 Percent as Chip Crunch, Supply Snags Drag
General Motors Co. reported a 15 percent drop in second-quarter auto sales on Friday, as a global chip shortage and supply chain disruptions hit production and left nearly 100,000 vehicles waiting for more parts. The U.S. auto industry is struggling to keep up with pent-up consumer demand for new cars as it struggles to ramp…
Tampon Shortage: Yet Another ‘War on Women’
Commentary BEAVER, Pennsylvania—If you were looking to purchase tampons here at the Beaver Super Market along Third Street, the city’s Main Street business district, the manager says there has been a shortage for a while. When he does get them in, they are gone by midday. He is not alone. A visit to several larger…
Unilever Switches Some Ingredients to Adapt to Commodities Shortages
June 16, 2022
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LONDON— As commodities—from crude oil to sunflower oil—remain in short supply, Britain’s Unilever has changed the ingredient makeup for some of its products like deodorants and packaged food to cut costs and mitigate supply constraints. The ability to switch ingredients and materials, something consumer goods manufacturers traditionally find difficult, became even more valuable after Ukraine’s…
Nestle CEO Does Not See ‘Significant’ Baby Formula Shortages Outside US
May 30, 2022
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ZURICH—Nestle does not expect “significant infant formula shortages” in other markets the Swiss food maker serves outside the United States, Chief Executive Mark Schneider said in an interview Monday. “This was very much a domestic situation caused by the outage of a large facility in the U.S.,” Schneider said, after a shortage hit the U.S….
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