India could start seeing more blackouts as power demand surges to new records on soaring temperatures and rising industrial activity.
South Korean petrochemical, auto and steel firms are drastically cutting operations as inventories pile up due to a trucker strike, now in its eighth day. Container activity is down to one-third of normal levels at the port of Busan, which handles 80% of South Korea’s cargo, while the nation’s exports in the first 10 days of June shrank 12.7% from a year ago.
Union workers at five German ports, including Europe’s third-largest Port of Hamburg, began striking Friday over contract disputes.
A strike among British rail and underground workers, scheduled for three days later this month, could push 250,000 people temporarily out of work and cost the U.K.’s economy $125 million.
International Longshore and Warehouse Union workers at the Port of Oakland, already among the worst performing container ports in the country, will stage a work stoppage June 20 to commemorate Juneteenth as the July 1 expiration of their labor contract approaches.
Florida recorded 262 COVID-19-related fatalities for the week ending June 3, the most of any U.S. state, while average daily case counts rose to more than 10,000 for the week ending June 10, a 4% increase from previous week.
China’s factory inflation cooled to its slowest pace in 14 months in May, depressed by weak demand for steel, aluminum and other key industrial commodities.
The U.S. dollar is up 22% versus the yen over the past year, the lowest valuation of Japan’s currency since 1982.
GDP in the U.K. slid 0.3% in April, the second consecutive monthly decline.
Mexico’s shift to an industrial policy with greater state intervention is costing the nation billions of dollars in foreign investment, reducing competitiveness and slowing gains in energy production, economists say.
New data shows Canadian employers added more jobs than expected in May as the nation’s jobless rate fell to 5.1%, the lowest in data going back to 1976.
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