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June 11, 2021

shortage

Volkswagen expects chips shortage to ease in Q3

Reuters
Volkswagen (VOWG_p.DE) expects a shortage in semiconductor supply to ease in the third quarter but sees the bottlenecks continuing in the long-term, a board member told Handelsblatt newspaper. “At the moment we have reached the lowest point. We are facing the toughest six weeks,” Murat Aksel, the head of procurement......

Goldman says disruptions from the chip shortage should improve in the second half of 2021

CNBC
CNBC – For more and to sign up click here The worst may soon be over when it comes to disruptions stemming from the global chip shortage, according to Goldman Sachs. Andrew Tilton, chief Asia economist at the bank, said the situation could improve in the second half of 2021.......

Chip shortage will pose a ‘daily challenge’ for next year, Commerce Secretary Raimondo says

CNBC
CNBC – For more and to sign up click here A global shortage of semiconductors will continue to strain markets for months to come, Commerce Secretary Gina Raimondo said Monday. “For the next year or so, this will be a daily challenge,” Raimondo said on CNBC’s “Closing Bell.” The scarcity......

Is there a labor shortage? What the May jobs report tells us

CNBC
CNBC – For more and to sign up click here A help wanted sign is displayed outside of a business before Memorial Day near the boardwalk in Wildwood, New Jersey. Spencer Platt | Getty Images News | Getty Images The weaker-than-expected April jobs report fueled speculation of U.S. labor shortages......

Stay-at-home holidaymakers warned of summer essentials shortage

BBC
https://www.bbc.co.uk/news/business-57379810 “A combination of Covid-19 restrictions, the backlog from the Suez Canal blockage, increasing global demand for shipping containers, disruption to shipping caused by India’s public health crisis and a shortage of packaging materials means UK businesses are already struggling to meet summer demand,” said KlearNow’s founder and chief executive......

Russia’s Sechin warns of oil shortage amid drive for green energy

Reuters
Chief Executive of oil producer Rosneft Igor Sechin attends a meeting with Russian President Vladimir Putin at the Novo-Ogaryovo state residence outside Moscow, Russia February 15, 2021. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS Igor Sechin, the head of Russian oil major Rosneft (ROSN.MM), said on Saturday the world was facing an acute......

The global chip shortage doesn’t mean all semiconductor prices will shoot up equally, says Natixis chief economist

CNBC
CNBC – For more and to sign up click here The global chip shortage is causing problems for multiple industries and shows no signs of abating, but don’t expect prices for all types of chips to shoot up, says the Asia-Pacific chief economist of research firm Natixis. Car makers have......

Chip giants are making more money than ever as the semiconductor shortage rages

CNBC
CNBC – For more and to sign up click here Memory chips are seen on a Samsung Electronics memory module in this arranged photograph in Seoul, South Korea, on Thursday, July 26, 2018. SeongJoon Cho | Bloomberg | Getty Images The world’s 10 biggest chip manufacturing companies saw their revenues......

Travis Perkins warns of price rises amid shortage of raw materials

BBC
https://www.bbc.co.uk/news/business-57299350 A spokesman said: “In instances where we have seen some challenges posed by global demand for raw materials or inflationary pressures, we continue to work closely with our suppliers and partners to minimise price increases where possible, whilst also ensuring healthy stock availability for all of our customers.” BBC......

Democrats, GOP team up on bill targeting China as U.S. suffers microchip shortage

CNBC
CNBC – For more and to sign up click here Senate Majority Leader Chuck Schumer, a Democrat from New York, speaks during a news conference following the weekly Democrat Senate policy luncheon on Capitol Hill in Washington, D.C., on Tuesday, April 27, 2021. Al Drago | Bloomberg | Getty Images......

Illinois businesses facing a summer of a shortage of workers

WashingtonExaminer
USA TODAY – For more and to sign up click here Kevin Bessler, The Center Square As the Illinois economy slowly picks up steam, businesses are struggling to find workers. The National Federation of Independent Business Small Business Optimism Index rose to 99.8 in April, an increase of 1.6 points......

Ford confirms new North America production cuts as chip shortage lingers

Detriot News
Detroit News – For more and to sign up click here Ford Motor Co. on Wednesday confirmed a new round of production cuts at several of its plants in North America amid an ongoing semiconductor chip shortage that has hit auto production worldwide. The latest production changes are: Ford’s Chicago......

Biden wants to bring the economy from relief to recovery. A labor shortage may signal trouble for those plans.

CNN
USA TODAY – For more and to sign up click here “We went from 92 hours to 55 hours a week,” said Eisenbraun, who opened the brewery and restaurant in 2015 with her husband, after a decade of planning. “It’s a tough business model right now to be closed during......

Push for patent waivers is ‘political theater’ and won’t solve vaccine shortage, CEO says

CNBC
CNBC – For more and to sign up click here Waiving intellectual property protections for Covid-19 vaccines will not help to address the global supply shortage, the co-founder of a Massachusetts-based biopharmaceutical company told CNBC. The push for patent waivers is “political theater” and does not inherently allow others to......

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