Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday said he expects more clarity on the economic outlook by the time the Fed ends its bond-buying program in mid-2022, and is keeping an “open mind” on the timing of any rate hikes to follow. “I have not made any decisions about where my stance is…
Towns Around Massachusetts Paying Snowplow Drivers up to $310 an Hour Amid Labor Shortage
November 9, 2021
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Towns around Massachusetts are offering up to $130 an hour for drivers with a commercial license amid a labor shortage. According to a “request for response from interested vendors 2021–2022” legal notice, Watertown is paying up to $200 for plow drivers with a commercial license, and the rates increase to $310 for those with specialized equipment, specifically a rubber-tired…
United Can Put Unvaccinated Workers on Unpaid Leave, Judge Rules
November 9, 2021
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United Airlines can carry out its plans to place workers who receive exemptions from its COVID-19 vaccine mandate on unpaid, indefinite leave, a federal judge ruled Monday. U.S. District Judge Mark Pittman, a Trump nominee, last month ordered United not to proceed with its plans as he sought to make sure workers who filed for…
3 Ways Customer Relationships Will Change Forever in Light of COVID-19
November 9, 2021
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By Dr. Gero Decker Undoubtedly, COVID-19 has rocked the economy. The International Monetary Fund’s (IMF) World Economic Outlook predicts the cumulative loss to the world’s GDP from 2020 to 2021 will be approximately $9 trillion. That’s more than the combined economies of Germany and Japan. But the crisis has disrupted more than global markets; it…
Manufacturing Mindfulness: 7 Lessons From the Pandemic
As 2021 draws to a close, manufacturers are reflecting on how far they’ve come during the last year and a half. After halting production, reducing operations, or shifting to different products at the start of the pandemic, companies are now looking to climb out of the decline—and in some cases, are working harder than ever…
Japanese Car Production Plunges Amid Supply Chain Disruptions
November 8, 2021
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Amid the global chip shortage, Japan’s eight largest automakers’ September domestic output stood at 398,075, falling 49.7 percent compared to the same period last year, the sharpest production decline since the 61.8 percent drop in May last year, according to Chinese state media. Among them, Toyota and Honda dropped more than 55 percent. TSMC’s Japanese…
Apple Supplier TSMC Says It Has Complied With US Request For Data Without Compromising Customer-Related Information
Key Apple Inc. chip supplier Taiwan Semiconductor Manufacturing Co. Ltd. said it has responded to a U.S. request for data related to the global chip shortage, Reuters reported, citing the company. What Happened The world’s largest chipmaker said it has not disclosed any customer-related information in response to Washington’s data request to help mitigate the…
Truckers Warn ‘Disastrous’ OSHA Mandate Will Worsen Supply Chain Chaos
Trucking industry groups issued warnings after President Joe Biden’s administration unveiled a COVID-19 vaccine rule targeting private businesses with 100 or more workers, saying the mandate would damage the industry. “As we made clear in our comments to the administration prior to the rule’s publication, drivers spend the vast majority of their workday alone in…
Euro Zone Investor Morale Rises on More Upbeat Outlook
November 8, 2021
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BERLIN—Investor morale in the euro zone rose in November for the first time since July as investors expected supply bottlenecks and higher prices to hold back the economy only temporarily, a survey showed on Monday. Sentix’s index for the euro zone rose to 18.3 from 16.9 in October. A Reuters poll had pointed to a…
Automakers Say Magnesium Shortage Not a Problem, for Now
BERLIN/LONDON—European automakers reeling from a global chip shortage have in recent days hastened to assure shareholders that shortages of magnesium are not, for now, a risk to their production plans. However, car part suppliers and industry associations warn that if production in China, which accounts for 85 percent of global magnesium supply, does not pick…
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