BEIJING—Profits at China’s industrial firms fell at their fastest pace in two years in April as high raw material prices and supply chain chaos caused by COVID-19 curbs squeezed margins and disrupted factory activity. Profits shrank 8.5 percent from a year earlier, swinging from a 12.2 percent gain in March, according to Reuters’ calculations based on…

FRANKFURT, GERMANY—Volkswagen’s planned European battery cell plants and securing vital raw materials will cost as much as 30 billion euros ($34 billion), board member Thomas Schmall said, putting a price tag on the expansion for the first time. Schmall, who is in charge of technology at Europe’s largest carmaker, said in an interview at  the…

U.S. businesses are dealing with growing inflationary pressures with rising input costs, material shortages, and unresolved supply issues being key drivers. Among manufacturers, 86.4 percent stated their primary current business challenge was an increase in raw material prices, according to the third quarter outlook survey by the National Association of Manufacturers (NAM). One of the roots…

China’s main industrial commodities tumbled on Thursday after the government announced stepped-up measures to keep a lid on soaring raw materials prices which threaten to undermine the country’s economic recovery. Prices of key steelmaking ingredients iron ore and coking coal, as well as steel products such as rebar and hot-rolled coil, all dropped more than…