Gas Prices Around the World Threaten Livelihoods and Stability

Around the world, from South Asia and Africa to Europe and Latin America, the cost of filling a car’s tank, getting to work and cooking dinner has spiked.

#birol-fatih, #economic-conditions-and-trends, #international-energy-agency, #international-trade-and-world-market, #oil-petroleum-and-gasoline, #prices-fares-fees-and-rates, #recession-and-depression, #russian-invasion-of-ukraine-2022, #supply-chain, #united-states-economy

As Dockworkers Near Contract’s End, Many Others Have a Stake

West Coast longshoremen and port operators say they’re determined to reach an agreement, but truckers and retailers relying on cargo are uneasy.

#freight-cargo, #international-longshore-and-warehouse-union, #international-trade-and-world-market, #labor-and-jobs, #long-beach-calif, #los-angeles-calif, #organized-labor, #pacific-maritime-assn, #ports, #ships-and-shipping, #supply-chain, #trucks-and-trucking, #united-states-economy

As Russia Chokes Ukraine’s Grain Exports, Romania Tries to Fill In

With famine threatening millions, Europe is intent on finding alternatives to one of world’s biggest food exporters, whose landlocked crop is stranded by war.

#agriculture-and-farming, #europe, #european-union, #food, #grain, #ports, #romania, #russia, #russian-invasion-of-ukraine-2022, #ships-and-shipping, #supply-chain, #ukraine, #wheat

Fed Confronts a ‘New World’ of Inflation

Central banks had a longstanding playbook for how inflation worked. In the postpandemic era, all bets are off.

#coronavirus-2019-ncov, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #oil-petroleum-and-gasoline, #powell-jerome-h, #prices-fares-fees-and-rates, #recession-and-depression, #shortages, #supply-chain, #united-states-economy, #wages-and-salaries

Companies Brace for Impact of New Forced Labor Law

Billions of dollars could be at stake as a law banning imports of products from China goes into effect.

#customs-and-border-protection-us, #embargoes-and-sanctions, #factories-and-manufacturing, #forced-labor, #international-relations, #international-trade-and-world-market, #politics-and-government, #supply-chain, #united-states, #xinjiang-china

Red Flags for Forced Labor Found in China’s Car Battery Supply Chain

Ties to potentially coercive labor practices could prove a problem for an industry that is heavily dependent on China, once a new law barring Xinjiang products goes into effect.

#alternative-and-renewable-energy, #china, #electric-and-hybrid-vehicles, #embargoes-and-sanctions, #forced-labor, #human-rights-and-human-rights-violations, #international-trade-and-world-market, #lithium-metal, #mines-and-mining, #nickel, #supply-chain, #uighurs-chinese-ethnic-group

Inflation and Price Gouging

We look at whether “greedflation” is causing higher prices.

#inflation-economics, #internal-storyline-no, #price-gouging, #prices-fares-fees-and-rates, #supply-chain, #united-states-economy

Global Stock Sell-Off Continues as Economic Concerns Mount

The losses in China, Japan and Australia followed weakness in the United States, where stocks closed in bear market territory.

#bear-market, #coronavirus-2019-ncov, #economic-conditions-and-trends, #federal-reserve-system, #international-trade-and-world-market, #politics-and-government, #recession-and-depression, #stocks-and-bonds, #supply-chain, #united-states-economy

Is There a Tampon Shortage? What You Need to Know

Supply chain issues have hit tampons, and inflation has driven up prices. Here’s why there’s a shortage — and what you can do if you run out.

#inflation-economics, #menstruation, #shortages, #supply-chain

Inflation in the United States: What You Need to Know

Inflation is a tricky problem, but it has a few clear causes and consequences, and policymakers are working to bring it to heel.

#consumer-price-index, #federal-reserve-system, #inflation-economics, #interest-rates, #price-gouging, #prices-fares-fees-and-rates, #recession-and-depression, #supply-chain, #united-states, #united-states-economy

An ‘Ugly’ Inflation Report Upended Hopes That Price Gains Would Ease

Investors and economists had expected to see some moderation in inflation. Instead, prices accelerated again in May, delivering an unwanted surprise.

#consumer-price-index, #inflation-economics, #supply-chain, #united-states-economy, #united-states-politics-and-government

Biden to Visit Port of Los Angeles, Casting Inflation as a Global Problem

The visit to the nation’s busiest entry point for goods comes as President Biden struggles to show progress on resolving supply chain issues that are fueling inflation across the country.

#biden-joseph-r-jr, #freight-cargo, #inflation-economics, #los-angeles-calif, #port-of-los-angeles-calif, #ports, #ships-and-shipping, #shopping-and-retail, #shortages, #supply-chain, #united-states-economy, #united-states-politics-and-government

Export Bans on Malaysian Chicken and Indian Wheat Prompt Fears

Restricted so far in the name of domestic food security: Indian wheat, Malaysian chicken and Indonesian cooking oil. Experts warn of unwanted consequences.

#agriculture-and-farming, #far-east-south-and-southeast-asia-and-pacific-areas, #food, #food-insecurity, #indonesia, #international-trade-and-world-market, #malaysia, #protectionism-trade, #shortages, #singapore, #supply-chain

How Henry Ford Would Deal With Today’s Supply Chain Upheaval

The automobile pioneer believed short-term interests must not squeeze out investment in a business’ resilience, a lesson many companies have learned the hard way since 2020.

#automobiles, #dividends-finance, #factories-and-manufacturing, #ford-henry, #international-trade-and-world-market, #labor-and-jobs, #supply-chain, #united-states-economy, #wages-and-salaries

Global Growth Will Be Choked Amid Inflation and War, Says World Bank

Global economic growth will be choked as war, inflation and ongoing supply chain problems take a toll.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #embargoes-and-sanctions, #inflation-economics, #international-trade-and-world-market, #malpass-david, #recession-and-depression, #russian-invasion-of-ukraine-2022, #supply-chain, #third-world-and-developing-countries, #world-bank

Persistent Inflation Puts Yellen in the Spotlight

The Treasury secretary’s recent comments about rising prices have put the Biden administration on the defensive.

#american-rescue-plan-2021, #economic-conditions-and-trends, #inflation-economics, #interest-rates, #prices-fares-fees-and-rates, #supply-chain, #united-states, #united-states-economy, #yellen-janet-l

For Truck Drivers Across the U.S., Major Change Is Approaching Fast

As truck drivers are forced to adapt to increasing difficulties on the road, the support system that serves them is at risk of disappearing.

#careers-and-professions, #driver-distraction-and-fatigue, #labor-and-jobs, #shortages, #supply-chain, #traffic-accidents-and-safety, #trucks-and-trucking, #united-states, #wages-and-salaries, #workplace-hazards-and-violations

Is ‘Greedflation’ Rewriting Economics, or Do Old Rules Still Apply?

Economists and politicians are debating whether monopolistic companies are fueling inflation in ways that confound longstanding theory.

#coronavirus-2019-ncov, #economics-theory-and-philosophy, #inflation-economics, #prices-fares-fees-and-rates, #shortages, #stimulus-economic, #supply-chain, #united-states-economy

U.S. Technology, a Longtime Tool for Russia, Becomes a Vulnerability

Global restrictions on sending advanced technology to Russia are hampering the country’s military capacity, U.S. officials say, though Russia has stockpiled American equipment for years.

#embargoes-and-sanctions, #international-trade-and-world-market, #russian-invasion-of-ukraine-2022, #supply-chain, #ukraine, #united-states-economy, #united-states-international-relations, #united-states-politics-and-government

There Is Way More Biden Can Do to Lower Prices

No one wants to hear politicians bicker about inflation’s cause. They want to hear about how we can fix it.

#agriculture-department, #california, #house-of-representatives, #infant-formulas, #inflation-economics, #oil-petroleum-and-gasoline, #prices-fares-fees-and-rates, #shortages, #supply-chain, #united-states-economy, #united-states-politics-and-government

After a Bumper 2021, Companies Might Struggle to Increase Profits

Businesses face headwinds as demand weakens, the Federal Reserve raises rates and government stimulus programs end.

#company-reports, #consumer-behavior, #coronavirus-2019-ncov, #inflation-economics, #shopping-and-retail, #standardpoors-500-stock-index, #stocks-and-bonds, #supply-chain, #united-states, #united-states-economy

Global Brands Seek Clarity on Xinjiang

Companies that sourced cotton from the region in China are weighing evidence of forced labor, a lack of visibility into operations and new regulation.

#bachelet-michelle, #cotton, #eileen-fisher-inc, #fashion-and-apparel, #forced-labor, #human-rights-and-human-rights-violations, #international-trade-and-world-market, #patagonia-inc, #shopping-and-retail, #supply-chain, #uighurs-chinese-ethnic-group, #xinjiang-china

What Dominated the World Economic Forum

Our takeaways from Davos, plus how some influencers hype crypto without disclosing their financial ties.

#china, #coronavirus-2019-ncov, #corporate-social-responsibility, #europe, #florida, #georgia, #great-britain, #international-trade-and-world-market, #russian-invasion-of-ukraine-2022, #supply-chain, #united-states-economy, #xinjiang-china

Imaging Contrast Dye Shortage Delays Tests for Diseases

Many U.S. hospitals are postponing scans used to diagnose diseases after a Covid lockdown in China hobbled the main U.S. supplier of an imaging chemical.

#cancer, #computerized-axial-tomography-cat-scans, #contrast-imaging, #coronavirus-2019-ncov, #ct-scan, #emergency-medical-treatment, #ge-healthcare, #hospitals, #shanghai-china, #shortages, #supply-chain, #tests-medical, #tests-and-examinations, #united-states

F.D.A. Chief Details ‘Shocking’ Conditions at Baby Formula Plant

Agency inspectors found a leaking roof, standing water and cracked production equipment before a facility shutdown that led to major shortages.

#abbott-laboratories, #baby-foods, #bacteria, #califf-robert-m, #centers-for-disease-control-and-prevention, #food-and-drug-administration, #infant-formulas, #michigan, #shortages, #shutdowns-institutional, #supply-chain, #united-states-politics-and-government

In South Korea, Joe Biden Seeks to Rebuild Economic Ties Across Asia

The president began his first Asian visit with a tour of a Samsung plant as he tries to address supply-chain woes and rebuild U.S. manufacturing.

#biden-joseph-r-jr, #factories-and-manufacturing, #samsung-group, #south-korea, #supply-chain, #united-states-international-relations, #yoon-suk-yeol

Japan’s Economy Shrank 1 Percent as Consumers Fled Covid

The world’s third-largest economy lost momentum in the first three months of the year after the Omicron variant suppressed demand at home.

#coronavirus-omicron-variant, #currency, #economic-conditions-and-trends, #inflation-economics, #international-trade-and-world-market, #japan, #supply-chain

F.D.A. and Abbott Reach Agreement on Baby Formula to Try to Ease Shortage

The company said if the agency approved reopening the plant, production could resume and store shelves would be restocked within several weeks.

#abbott-laboratories, #children-and-childhood, #food-and-drug-administration, #food-contamination-and-poisoning, #infant-formulas, #international-trade-and-world-market, #parenting, #recalls-and-bans-of-products, #shortages, #supply-chain, #your-feed-healthcare

Bernanke’s Economic Warning

The former Federal Reserve chair warns that the U.S. could be headed for a period of “stagflation.”

#bernanke-ben-s, #bezos-jeffrey-p, #corporate-taxes, #federal-reserve-system, #federal-taxes-us, #interest-rates, #politics-and-government, #russian-invasion-of-ukraine-2022, #subprime-mortgage-crisis, #supply-chain, #united-states, #united-states-economy

The Baby Formula Crisis

The shortage highlights four larger problems with the U.S. economy.

#abbott-laboratories, #gerber-products-co, #infant-formulas, #internal-storyline-no, #similac, #supply-chain, #united-states-economy

Babies Need Nutrition. Don’t Play Politics With the Formula Shortage.

Food-insecure families already know how this feels.

#breastfeeding, #food-insecurity, #infant-formulas, #internal-sub-only-nl, #recalls-and-bans-of-products, #shortages, #similac, #supply-chain, #ukraine

Baby formula shortage worsens as national out-of-stock rate hits 43%

A nearly empty baby formula display shelf is seen at a Walgreens pharmacy on May 9, 2022 in New York City.

Enlarge / A nearly empty baby formula display shelf is seen at a Walgreens pharmacy on May 9, 2022 in New York City. (credit: Getty | China News Service)

Shortages of infant and specialty formulas continue to worsen in the US, with the national out-of-stock rate hitting a high of 43 percent in the first week of May, according to data released this week from Datasembly, which tracks retail information.

With bare shelves in stores, purchase limits, and online price gouging and scams, parents across the country are struggling to feed formula-fed babies and children with medical conditions that necessitate specialized formulas. News reports are filled with parents driving hours to search stores for formula or posting pleas online. Some are even watering down formula or turning to recalled batches contaminated with dangerous bacteria.

The dire shortage is due to a combination of factors, including pandemic-related supply chain issues, product recalls, and inflation, according to Datasembly CEO Ben Reich.

Read 9 remaining paragraphs | Comments

#abbott, #baby-formula, #cdc, #cronobacter, #fda, #formula, #infant-formula, #recall, #science, #shortage, #supply-chain

China Is the Next Worry as Food Prices Soar

Ukraine’s wheat exports have been mostly halted since Russia’s invasion, while drought has damaged crops in India and the United States. China’s upcoming harvest is another concern.

#china, #communist-party-of-china, #food-insecurity, #international-trade-and-world-market, #politics-and-government, #supply-chain, #wheat, #xi-jinping

China’s Covid Policies Have European Companies Wary of Investing

Lockdowns and supply chain issues have soured European businesses in China on the idea of further investment in the country, a survey finds.

#china, #coronavirus-2019-ncov, #economic-conditions-and-trends, #international-trade-and-world-market, #supply-chain

VW sells out of electric cars in US and Europe

A blue VW ID.4 in a studio

Enlarge / A 2021 VW ID.4, the brand’s battery-electric crossover. (credit: Jonathan Gitlin)

Volkswagen, the world’s second-largest electric vehicle manufacturer by volume, has “sold out” of battery-powered models in the US and Europe for this year as persistent supply chain bottlenecks hit global production.

The Wolfsburg-based group, which includes brands such as Porsche, Audi and Škoda, sold more than 99,000 electric models worldwide in the first three months of 2022 as it was hit by a shortage of semiconductors and wiring harnesses made in Ukraine.

Market leader Tesla delivered more than three times that number in the same quarter.

Read 10 remaining paragraphs | Comments

#bevs, #cars, #electric-cars, #supply-chain, #volkswagen, #volkswagen-id-4

American Importers Accuse Shipping Giants of Profiteering

Carriers are exploiting the supply chain chaos to breach contracts and jack up rates, importers say in asking for federal intervention.

#coronavirus-2019-ncov, #far-east-south-and-southeast-asia-and-pacific-areas, #federal-maritime-commission, #freight-cargo, #international-trade-and-world-market, #maffei-daniel-b, #prices-fares-fees-and-rates, #regulation-and-deregulation-of-industry, #ships-and-shipping, #supply-chain, #united-states

The Era of Cheap and Plenty May Be Ending

Supplies of goods are coming up short in the pandemic, and prices have jumped. Some economists warn that the changes could linger.

#economic-conditions-and-trends, #factories-and-manufacturing, #goodhart-charles, #inflation-economics, #international-trade-and-world-market, #labor-and-jobs, #okonjo-iweala-ngozi, #powell-jerome-h, #prices-fares-fees-and-rates, #relocation-of-business, #supply-chain, #united-states-economy, #yellen-janet-l

Stocks drop 2.8%, led lower by tech, as April’s slump continues.

Big technology companies are set to report earnings starting Tuesday. The S&P 500 has dropped nearly 8 percent this month, its worst monthly showing since March 2020.

#amazon-com-inc, #apple-inc, #company-reports, #economic-conditions-and-trends, #microsoft-corp, #russian-invasion-of-ukraine-2022, #standardpoors-500-stock-index, #stocks-and-bonds, #supply-chain, #tesla-motors-inc, #twitter, #united-states-economy

What’s Fueling the Global Food Crisis?

Surprise: Old-style globalization is bearing the brunt of this crisis.

#agriculture-and-farming, #economic-conditions-and-trends, #economics-theory-and-philosophy, #food, #internal-sub-only-nl, #international-trade-and-world-market, #prices-fares-fees-and-rates, #supply-chain, #united-states-economy

Technology stocks lead Wall Street lower as April slump continues.

Big technology companies are set to report earnings starting today.

#amazon-com-inc, #apple-inc, #company-reports, #economic-conditions-and-trends, #microsoft-corp, #russian-invasion-of-ukraine-2022, #standardpoors-500-stock-index, #stocks-and-bonds, #supply-chain, #tesla-motors-inc, #twitter, #united-states-economy

Shanghai’s plan to reboot the supply chain will hit workers the hardest

Shanghai’s plan to reboot the supply chain will hit workers the hardest

Enlarge

Like many people in Shanghai, Joyce has spent weeks shut at home since the latest COVID-19 lockdown was imposed on March 28. The software industry executive, who asked to be identified only by her first name to avoid attention from the authorities, says she has suffered from food shortages, and the compound where she lives has resorted to “group buying,” where different individuals are responsible for sourcing as much of a certain product as possible for the community.

“A lot of people are struggling with being confined at home, because they have literally no income,” she says. Group purchases “are three to four or five times more expensive than the normal days, and Shanghai is not cheap.”

Read 18 remaining paragraphs | Comments

#china, #chip-shortage, #covid-19, #lockdown, #policy, #supply-chain

Tesla’s Profits Jumped in the First Quarter but Challenges Loom

The electric carmaker had to close an important factory in Shanghai because of China’s efforts to stamp out a coronavirus outbreak.

#automobiles, #company-reports, #coronavirus-2019-ncov, #electric-and-hybrid-vehicles, #factories-and-manufacturing, #musk-elon, #shanghai-china, #shortages, #shutdowns-institutional, #supply-chain, #tesla-motors-inc

How the Supply Chain Crunch is Hurting California Farmers.

As shipping companies concentrate on the most lucrative routes from China to California, almond growers are struggling to transport their wares.

#agriculture-and-farming, #california, #central-valley-calif, #china, #dubai-united-arab-emirates, #far-east-south-and-southeast-asia-and-pacific-areas, #federal-maritime-commission, #international-trade-and-world-market, #maffei-daniel-b, #nuts, #ports, #ships-and-shipping, #supply-chain, #united-states-economy, #warehouses

World Economic Outlook Dims as War and Pandemic Cast a Pall

The International Monetary Fund’s new World Economic Outlook expects growth to slow to 3.6 percent this year. The group is one of many to slash their forecasts recently.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #inflation-economics, #international-monetary-fund, #international-trade-and-world-market, #recession-and-depression, #russian-invasion-of-ukraine-2022, #supply-chain

China’s Economic Data Hints at Cost of Zero Covid Strategy

The country’s lockdowns have trapped truck drivers on highways, halted production lines and forced some importers to source goods from outside China.

#beijing-china, #changchun-china, #china, #coronavirus-2019-ncov, #economic-conditions-and-trends, #factories-and-manufacturing, #hefei-china, #jilin-province-china, #quarantines, #shandong-province-china, #shanghai-china, #shenzhen-china, #supply-chain, #trucks-and-trucking

How Rising Mortgage Rates Are Affecting the Housing Market

Mortgage costs have jumped as the Federal Reserve has raised rates. With higher rates come fewer offers.

#california, #federal-reserve-system, #inflation-economics, #interest-rates, #mortgages, #prices-fares-fees-and-rates, #real-estate-and-housing-residential, #renting-and-leasing-real-estate, #supply-chain, #united-states, #united-states-economy

Construction Defects Emerge at Pandemic-Era New Developments

Complaints of poor construction are on the rise in new luxury rental and condo buildings, after two chaotic years of New York real estate amid the pandemic.

#building-construction, #condominiums, #coronavirus-2019-ncov, #floods, #long-island-city-queens-ny, #real-estate-commercial, #real-estate-and-housing-residential, #ryan-serhant, #soho-manhattan-ny, #suits-and-litigation-civil, #supply-chain

Supply Chain Hurdles Will Outlast Covid Pandemic, White House Says

The administration’s economic advisers see climate change and other factors complicating global trade patterns for years to come.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #inflation-economics, #international-trade-and-world-market, #shortages, #supply-chain, #united-states-economy, #united-states-politics-and-government

The Case for Aggressively Raising Interest Rates

The case for addressing inflation now.

#biden-joseph-r-jr, #federal-reserve-system, #inflation-economics, #interest-rates, #recession-and-depression, #supply-chain, #united-states-economy

Prices Are High, but Inflation Is Dropping. (Don’t Get Too Excited.)

The bullwhip is flicking back.

#consumer-price-index, #economics-theory-and-philosophy, #inflation-economics, #internal-sub-only-nl, #international-trade-and-world-market, #labor-and-jobs, #prices-fares-fees-and-rates, #supply-chain, #united-states-economy, #wages-and-salaries