Inflation levels across the United States are expected to surge to yet another record high, according to the Federal Reserve Bank of New York’s latest monthly Survey of Consumer Expectations (SCE) published on Monday. The SCE contains information about how consumers expect overall inflation and prices for food, gas, housing, and education to behave. The report is…
Inflation Levels Across United States Expected to Surge to Another Record High: Federal Reserve Survey
Japanese Car Production Plunges Amid Supply Chain Disruptions
November 8, 2021
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automakersautomotiveBusiness & EconomyBusinesses in COVID-19chip shortageCompaniesJapansemiconductorsupply chainTSMC
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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…
President Biden: Supply-Chain Disruptions ‘Confusing’ For Worried Americans
In the face of increasing supply-chain disruptions, President Biden told reporters on Saturday that the “backed-up” supply chain is a result of companies “clos[ing] those plants because they have COVID.” “People are worried,” Biden said, with many questioning why the “price of agricultural products” has gone up. He gave the example of going out for…
Texas, Florida Governors Seek to Attract Cargo Ships to Their Ports Amid California Logjams
Governors of Texas and Florida are urging container ships struggling to get into California ports to reroute to their states, where they say there is capacity to handle all the cargo that needs to be unloaded and transported. In Texas, Gov. Greg Abbot has launched an “Escape California” campaign, suggesting that companies who wish to…
High Prices, Steady Supply Chain Protect BMW From Industry Woes
November 6, 2021
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auto showBMWBusiness & EconomyChip supply shortagesCompaniesEuropeInternationalMunichsupply chainWorld
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BERLIN—BMW beat analysts’ forecasts on Wednesday with a 42.4 percent increase in third quarter net profits to 2.58 billion euros ($2.99 billion) as higher prices and strong electric vehicle (EV) sales offset lower deliveries due to scarce chips. In an earnings call, finance chief Nicolas Peter said the company was confident of topping its target…
Truck Companies in Unprecedented Scramble To Find Spare Parts
It’s a simple fact of life for the commercial trucking industry: without replacement parts, the big semis stop rolling. When the trucks stop rolling, store shelves across the United States won’t be refilled with products. “It’s getting horrible” simply finding parts to fix the long-haul trucks, said Patrick Benford, general manager at Rocky Mountain Truck…
Industry Groups Urge Flexibility in Biden Vaccine Mandate or Risk Crippling ‘Already Strained Supply Chain’
November 5, 2021
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Business & EconomyBusinesses in COVID-19Executive BranchinflationPoliticssupply chainUSUS Newsvaccine mandate
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A coalition of business groups—including key supply chain stakeholders representing industries like foodservice, trucking, and warehousing—have called on the Biden administration for flexibility in its COVID-19 private employer vaccine mandate or risk exacerbating the supply chain crunch. A Nov. 3 open letter, signed by nearly 100 groups—such as the Agriculture Transportation Coalition, American Trucking Associations,…
Fed Sees Timing of Supply Chain Crisis Fix ‘Highly Uncertain’
Federal Reserve Chair Jerome Powell said Wednesday that he expects a normalization of the supply chain snarl that has led to shortages of key production materials and helped push inflation up to a 30-year high, but the timing of the fix remains “highly uncertain.” Powell made the remarks in a speech (pdf) following the conclusion…
Supply Chain Issues Could Last as Long as Pandemic: Transportation Secretary Pete Buttigieg
Transportation Secretary Pete Buttigieg on Sunday said that supply chain issues impacting industries across the globe could continue to play out for as long as the COVID-19 pandemic. “Look, there are so many things that are still happening in our economy—distortions, disruptions, things in our supply chain that are affecting prices that are clearly a direct consequence…
NTD Business Full Broadcast (Oct. 29)
Inflation remains hot, but the treasury secretary says president Biden’s new trillion dollar spending bill could help with that. we check with an expert. Apple’s CEO Tim cook says the tech giant missed out on $6 billion dollars because of supply chain issues. And more disruptions are expected, especially during the holiday season. And Facebook…
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