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Supply Chains in Crisis: Page 82

Wheat Climbs to Four-Month High as Traders Assess Russia Risks

Chicago wheat futures climbed to $7.56 a bushel in New York trading on June 26, putting prices on track for a 29% monthly gain, the biggest since 2015.

Bicske, Hungary. May 2023. Photo: Akos Stiller/Bloomberg

Biden Energy Subsidies Risk Distorting Critical Metals Market, UK Minister Warns

The Inflation Reduction Act has been a "huge challenge,” according to U.K. Business Minister Nusrat Ghani who said that the lure of the U.S. "distorts the market.”

Brazil. June 2023. Photo: Bloomberg

Austria Sees Need to Curb Russian Gas Reliance as Supply Risks Exposed

“It’s clear that we’re not far or fast enough down the path to eliminate Russian gas,” said Energy Minister Leonore Gewessler during a June 26 press briefing.

Leuna, Germany. January 2007. Photo: Katja Buchholz/Getty Images/Bloomberg

House Report Connects Temu and Shein to Import Violations, Forced Labor Practices

Temu and Shein utilized a special legal exemption to “avoid import duties and minimize the likelihood" that packages will be screened for UFLPA compliance the report said.

Photo: iStock.com/Andrii Koval

Eni Increases Gas Reach with $4.9bn Neptune Deal

The deal’s enterprise value is reportedly split into $2.28 billion for Neptune’s Norwegian assets, which go to Var Energi, and $2.6 billion for the rest.

Photo: Thor Oliversen/Bloomberg

Chamber of Commerce Welcomes Medical Supply Chain Resilience Act

The Medical Supply Chain Resiliency Act would allow the establishment of trusted trade partnerships to diversify the sourcing and procurement of medical devices as well as pharmaceuticals.

Photo: iStock.com/PhonlamaiPhoto

Hog Herds to Shrink as U.S. Farms Lose Money, Smithfield Warns

American pig growers are losing as much as $80 a hog according to Shane Smith, the chief executive officer of Smithfield Foods.

Nicasio, California. May 2020. Photo: Bloomberg

NTSB Holds Investigative Hearing into East Palestine Train Derailment

The investigation will take place from 9 a.m. to 7 p.m. EDT June 22 and 9 a.m. to 6 p.m. EDT June 23 in East Palestine, Ohio.

The scene of the Feb. 3, 2023, train derailment in East Palestine in Ohio. Photo: Bloomberg

Panama Canal Experiencing Worst Drought in a Century

Shipowners and charterers are adjusting operations to meet the lighter-load requirements, and weighing the costs of routing shipments elsewhere.

Photo: iStock.com/Federico Barbieri

Boeing Supplier’s Labor Vote Puts 737 Output Hike at Risk

Spirit AeroSystems Holdings Inc. is preparing to make a so-called best-and-final offer during the week of June 15 to about 6,000 unionized employees.

Photo: Daniel Acker/Bloomberg

Saudi Output Cuts Will Tighten Oil Market Sharply, OPEC Data Signals

Global oil consumption will exceed supplies by roughly 2.7 million barrels a day during July 2023 based on a June 13 report from OPEC.

Dhahran, Saudi Arabia. December 2019. Photo: Tasneem Alsultan/Bloomberg

U.K.’s Centrica Warns More Gas Storage Needed for Energy Security

The CEO of Centrica, the U.K.'s largest natural gas supplier, said the partial reopening of the country's biggest gas storage facility isn't enough to ensure energy security.

Isle of Grain, U.K. August 2022. Photo: Bloomberg

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