supply chain risks News

China’s Zero-COVID Policies Prompt U.S. Firms in Shanghai to Cut Forecasts: Survey

SHANGHAI – Over 90% of U.S. multinational firms surveyed by the American Chamber of Commerce (AmCham) in Shanghai have cut their annual revenue projections in the wake of the city’s grueling two-month lockdown, the business group said on Wednesday. Of …

Global Power Grids Face Biggest Test in Decades With Summer Blackouts Expected

Global power grids are about to face their biggest test in decades with electricity generation strangled in the world’s largest economies. War. Drought. Production shortages. Historically low inventories. And pandemic backlash. Energy markets across the planet have been put through …

Central Japan Water Leak Threatens Operations at Auto, Power Companies

A major water leak in central Japan on Wednesday disrupted supply to more than 130 businesses near the production center of Toyota Motor Corp. The accident in Japan’s manufacturing heartland threatened interruptions at major auto firms and power companies. A …

Global Supply Chain Woes Worsen, With Major Ports Facing Long Delays: Report

Global supply chain problems look to set to worsen, a new report published on Tuesday said, as China’s COVID-19 lockdowns, Russia’s invasion of Ukraine and other strains cause even longer delays at ports and drive up costs. The study by …

World’s Cargo Ships Are Sailing Into Supply Chain Disruptions via Climate Risks: Report

Dangerous, expensive disruptions to shipping and many of the world’s roughly 3,700 ports are on the rise along with global temperatures. These events will increasingly threaten the sea routes that convey 80% of traded goods by volume, according a new …

VW Fears Most of Its Cars on Cargo Ship ‘Felicity Ace’ Are Beyond Salvage

Volkswagen AG has lost hope that many of its roughly 4,000 vehicles aboard a cargo ship that caught fire last week in the Atlantic can be saved. The automaker’s brands and dealers have started notifying customers that the U.S.-bound vehicles …

Fire on Massive Car Transport Ship, Felicity Ace, Is Likely Extinguished

The fire on the cargo ship Felicity Ace, which had burned for more than a week, is likely extinguished and the vessel is now being towed, according to the operator MOL Ship Management. The ship had been transporting thousands of …

Cyber, Business Interruption, Natural Disasters Ranked as Top 3 Business Risks: Allianz

A year of unprecedented cyber-attacks, business interruption and supply chain disruption, along with natural catastrophe activity has pushed these three perils to the top of the list of global business risks in this year’s Allianz Risk Barometer. Cyber incidents top …

Foxconn India Restarts Production at iPhone Plant After December’s Worker Protests

CHENNAI – Apple Inc supplier Foxconn restarted production at its plant in southern India on Wednesday, a company official said, over three weeks after it was closed because of protests over workers falling sick. The company official, speaking to Reuters …

Foxconn Unlikely to Reopen India iPhone Manufacturing Facility Until Jan 7: Official

Apple Inc supplier Foxconn is unlikely to reopen its shuttered iPhone manufacturing facility in southern India until Jan. 7, a senior government official familiar with the matter told Reuters. The Foxconn plant, located in the state of Tamil Nadu, was …