Despite record volumes and the “best pricing in years,” General Mills’ margins in the current quarter will end up lower than 2019 levels, a result of surging logistics prices.
The Environmental Protection Agency will study how using renewable fuels to power electric vehicle charging could generate tradeable credits under a biofuels program.
California is facing its third driest year on record, with available water in reservoirs dropping by half.
Logistics conditions remain strained, with trucking demand exceeding availability and continued congestion at ports due in part to operating challenges related to the pandemic. Clients are advised to provide expanded lead times on orders to help ensure delivery dates.
There were 34,282 new COVID-19 cases yesterday in the U.S. and 222 deaths. More than 165 million vaccine doses have been administered, with over 57 million people, 17.5% of the population, now fully vaccinated.
A rise of new COVID-19 infections in young people is fueling new outbreaks in some states. However, the former FDA chief said the U.S. is not likely to see a full “fourth wave” of the virus due to rising vaccinations.
An analysis of foot-traffic in the U.S. shows Americans went out less in January, February and early March compared with the same period in 2020, suggesting life in most of the U.S. is not back to normal.
Factory activity expanded worldwide in March as pandemic lockdowns were eased:
Africa’s COVID-19 vaccine rollout is facing a severe setback after India, the world’s largest vaccine manufacturer, temporary halted exports of shots to deal with growing domestic cases. The European Union and the U.K. are asking that India lift its bans and export 10 million needed vaccine doses.
Roughly 70% of Japanese COVID-19 patients are infected with the “Eek” variant of the virus, which is known for reducing vaccine protection.
South Korean authorities are drawing criticism for relying on the international vaccine-sharing group COVAX to secure doses for its domestic inoculation campaign, doses which have failed to materialize in any significant number.
COVAX vaccine shipments are expected to reach more than 100 countries in the next couple of weeks.
A $650 billion increase in International Monetary Fund reserves could come as soon as August, which could help more low-income countries fund programs to combat the pandemic.
The international economy is recovering faster than expected, yet a new wave of lockdowns threatens to deepen the divide between low- and middle-income countries with limited resources and rich countries, who are fast on their way toward mass immunization to COVID-19.
Brazil posted a trade surplus of $1.5 billion in March, lower than expected and sharply down from the $3.8 billion surplus from the year-ago period. In February, the nation’s industrial production fell for the first time in 10 months, contributing to an expected economic contraction in the first quarter.
France’s public deficit is expected to reach 9% of GDP this year, up from previous forecasts as the country enters its third national lockdown. Meanwhile, the nation’s economy is expected to grow by 5% in 2021, a downward revision.
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