Surging natural gas prices in Europe have hit businesses in Spain particularly hard, where a high number of energy customers use flexible tariffs that are more sensitive to price movements.
The U.S. Senate Foreign Relations Committee will meet for a closed hearing Sept. 29 over Russia’s Nord Stream 2 natural gas pipeline, the controversial project long opposed by U.S. officials that would significantly boost Russia’s oil exports to Europe while bypassing Ukraine.
Power plant failures were ruled the single most significant cause of February’s sweeping outages in Texas and parts of other nearby states, as regulators begin calling for more stringent cold-weather standards.
Oil producer Tenrgys filed for Chapter 11 bankruptcy protection.
Our most recent list of force majeure and allocation announcements from suppliers is here.
The U.S. Commerce Department issued a voluntary request to industry for information on semiconductor chips following a pair of meetings at the White House Thursday. The administration is considering invoking a national security law to obtain inventory and sales information that could help enforce rules against stockpiling. Many nations are lavishing subsidies to expand their semiconductor sectors, including the U.S., where in June the Senate approved $52 billion to boost domestic chip production and research over the next five years.
Automakers could lose $210 billion in revenue and production of 7.7 million vehicles this year due to supply-chain disruptions, nearly double previous estimates.
For a partial list of automotive disruptions caused by semiconductor and component shortages, click here.
California became the first state to pass a bill that will require disclosure of, and potentially limit the use of, productivity quotas for warehouse employees, a response to alleged conditions at major employers including Amazon.
Global aluminum prices have reached 13-year highs as China, the world’s biggest manufacturer, reins in production to meet carbon emissions targets.
A Minnesota agricultural firm became the second Midwestern farm-services provider in a week to be forced to shut down its systems over cybersecurity breaches, severely disrupting deliveries ahead of the busy autumn harvest. The attack came a day after the White House pledged to work with industry to step up private-sector data security measures.
Eighteen states have yet to vaccinate half of their residents: Alabama, Alaska, Arkansas, Georgia, Idaho, Indiana, Louisiana, Mississippi, Missouri, Montana, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, Tennessee, West Virginia and Wyoming.
Montana is the latest state to see its hospitals begin rationing care over a surging number of COVID-19 patients.
New York City’s transit authority will begin issuing $50 fines to riders not wearing masks.
Aerospace and defense leaders are throwing their weight behind White House efforts to mandate COVID-19 vaccines for large businesses.
Burnout is causing a growing number of U.S. public health officials to exit the field, with at least 180 resigning or being fired from positions in 38 states as of late 2020.
The U.S. Commerce Secretary expects the recent decision to allow entry to foreign nationals who are vaccinated against COVID-19 will be a boon for the nation’s economy, especially for tourist destinations and business travel.
Apple’s Wallet feature will soon provide verified proof of a person’s COVID-19 vaccination, a plus for iPhone users as vaccine mandates spread.
Optimism among U.S. firms over business conditions in China has risen to a three-year high, surpassing levels last seen before a trade war initiated under the former U.S. administration.
Sales at Costco rose 17% in the latest quarter, with inflation accounting for up to 4.5% of the increase.
General Electric announced a $1.45 billion cash deal to acquire ultrasound company BK Medical, the company’s largest acquisition since 2018 and a sign of increasing focus on its medical imaging business.
Transport officials in San Francisco are raising concerns over the planned wider rollout of Tesla’s “Full Self-Driving” technology for drivers in the city, saying the feature is not fully autonomous and has not had enough safety testing.
Just 32% of the global population is fully vaccinated with only 16 countries 70% vaccinated, the threshold for achieving herd immunity.
With 24,611 new COVID-19 cases reported yesterday, Brazil is one day away from surpassing 600,000 total COVID-19 fatalities, second only to the U.S.
Australia’s Victoria state, home of Melbourne, reported 766 new COVID-19 infections yesterday, a record, as police stepped up their enforcement of pandemic lockdowns after arresting more than 200 people the previous three days.
Moderna’s chief executive made public comments suggesting his belief the pandemic will be over within the next year as COVID-19 vaccine availability picks up globally.
Various indicators of French and German economic conditions dropped on Thursday, suggesting European business activity is beginning to level off after rebounding sharply over the summer.
The Bank of England increased its interest rate forecast for year’s end to 4%, more than twice its target rate, as analysts expect the bank to hike rates on a speedier timeline than initially predicted.
The European Commission proposed rules standardizing charging ports for digital devices, which could eliminate 11,000 tonnes of waste from discarded power cords while crimping revenue streams for some tech companies, especially Apple.
Swedish carmaker Volvo will eliminate all leather used in its vehicles by 2030 in favor of bio-based and recycled materials.
General Motors announced a new $300 million investment in Chinese autonomous driving startup Momenta, the automaker’s first substantial foray into using the advanced technology in the world’s largest car market.
Plastics Reflections Web Series: Supply Chain Constraints & Forecast — Experts from BPI, LyondellBasell and MTS Logistics joined M. Holland to discuss current supply chain challenges impacting the global plastics industry. Click here to read key insights shared during the broadcast and access the recording.
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