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The Latest Breaking News from Supply chain

McDonald's Executive Shake-Up: What's On The Cards

McDonald's Corp (NYSE:MCD) CEO Chris Kempczinski announced several executive changes. MCD has appointed Ian Borden, currently President, International, as its next Executive Vice President and Chief Financial Officer, effective September 1. The current CFO, Kevin Ozan, has been promoted to Senior Executive Vice President, Strategic Initiatives, effective August 31. He plans to…

Benzinga

Read Why Needham Is Bullish On This Pet Care Retailer

Needham analyst Anna Andreeva upgraded Chewy Inc (NYSE:CHWY) to Buy from Hold with a price target of $55, implying a 44% upside. The analyst said the company had exceeded expectations in Q1 FY22 after missing consensus EBITDA for four quarters. Andreeva thinks the positive momentum continued in Q2 as the pet category was inelastic, with price increases sticking,…

Benzinga

Some cities nix July 4 fireworks for shortages, fire dangers

The skies over a scattering of Western U.S. cities will stay dark for the third consecutive Fourth of July as some big fireworks displays are canceled again, this time for pandemic-related supply chain or staffing problems, or fire concerns amid dry weather

The Independent UK

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Stellantis investment makes it 2nd largest shareholder in lithium supplier

Jeep maker Stellantis NV is investing nearly $53 million (50 million euro) into its European lithium partner in an effort to create a reliable supply chain of the critical mineral for electric-vehicle batteries.

Tribune News Service

Banks and UK supermarkets accused of backing deforestation in Brazil

By funding and stocking products from Brazilian meat giant JBS, firms have also supported land-grabbing, investigation claims

The Guardian - UK

Time To Drop These Beaten Down EV Stocks

Despite solid sales growth over the past year, the electric vehicle (EV) industry is grappling with supply chain issues and a shortage of key raw materials. As supply constraints are not expected to be eased anytime soon, fundamentally bleak EV stocks NIO (NIO) and Lucid Group (LCID), which have plunged…

StockNews.com

Here's Why Credit Suisse Sees Tesla Triumph Amid Odds

Credit Suisse analyst Dan Levy maintained Tesla Inc (NASDAQ:TSLA) with an Outperform and cut the price target from $1,125 to $1,000 (37% upside). Levy expected Tesla's 2Q deliveries of 242,000, missing the consensus of ~280,000 due to the Shanghai COVID shutdown. Moreover, given the lower delivery outlook, the associated margin impact, and an expected Bitcoin impairment, he…

Benzinga

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Why USA Truck Shares Are Skyrocketing Today

Logistics service provider DB Schenker has agreed to acquire all outstanding shares of USA Truck Inc. (NASDAQ:USAK) for $31.72 per share in cash, valuing USAK at ~$435 million, including assumed cash and debt. DB Schenker is a subsidiary of Deutsche Bahn. DB Schenker aims to strengthen and expand USA Truck's presence in North America…

Benzinga

World’s dirtiest oil and gas fields are in Russia, Turkmenistan and Texas

Oil and natural gas fields in Russia, Turkmenistan and Texas are the most climate-damaging on Earth, according to a first-of-its kind analysis that looks at greenhouse-gas emissions across entire supply chains and finds they vary widely. The dirtiest fields emit more than 10 times as much carbon dioxide equivalent as…

Tribune News Service

Asian Markets Rise as Recession Talk Tempers Rate Hike Expectations

Stocks rose in Asia on Friday following another rally on Wall Street as investors try to process central bank moves to fight soaring inflation with the growing possibility that those measures will induce a recession. Global markets have been thrown into turmoil for months by a perfect storm of crises…

Asharq Al-Awsat

Congress sends school meal waivers bill to Biden, but free meals are over for many

Congress passed an extension for some of the school meal waivers that supported families and schools during the pandemic, but they'll end for many who got free meals for the last two years.

WEKU

4 "Strong Buy" Industrial Stocks to Pull the Trigger on

Although high commodity prices and supply chain disruptions are troubling the industrial sector lately, strong demand for industrial goods and favorable government policies to boost domestic production should help it stay afloat. Therefore, quality industrial stocks, Core Molding Technologies (CMT), Hillenbrand (HI), Quanex Building Products (NX), and Ryerson (RYI), could…

StockNews.com

Canada to provide C$250 million to U.N. to address global food crisis, says Trudeau

Canada will provide C$250 million ($193 million) to the United Nations to address a food crisis exacerbated by supply chain constraints and high inflation after Russia's invasion of Ukraine, Prime Minister Justin Trudeau said on Thursday.

Reuters

Methode Electronics Clocks 4% Revenue Decline In Q4 Due To Lower Sales Volumes In Auto Segment

Methode Electronics, Inc (NYSE:MEI) reported a fourth-quarter FY22 net sales decline of 4.1% year-on-year to $288.7 million, missing the consensus of $289.5 million. The decrease was due to lower sales volumes in the Automotive segment due to supply chain constraints and the conflict in Ukraine. EPS of $0.43 missed the consensus of $0.56.…

Benzinga

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The Hindu

Andhra Pradesh: Volvo Group launches ‘green castings’ for its engines in Tirupati

TIRUPATI

Benzinga

Read How LightInTheBox Fared In Q1

LightInThe Box Holding (NYSE:LITB) reported a first-quarter FY22 sales decline of 16.3% year-on-year to $93.8 million. Apparel sales increased 13.7% Y/Y to $67.2 million, representing 71.7% of total revenue. The gross margin for the quarter expanded 410 basis points to 50.7%. Loss from operations was $(6.4) million compared to an operating income of…

Benzinga

Why Apogee Enterprises Shares Are Gaining Today

Apogee Enterprises Inc (NASDAQ:APOG) reported first-quarter FY23 sales growth of 9% year-over-year to $356.6 million, beating the consensus of $328.59 million. Revenue by segments: Architectural Framing Systems $163.3 million (+19% Y/Y); Architectural Glass $76.3 million (-8.1% Y/Y); Architectural Services $103.4 million (+14% Y/Y); and Large-Scale Optical $25.2 million (+4% Y/Y). The gross…

Irish Mirror

Real reason 99 ice creams are called 99s - and it's got nothing to do with the price

No 99 is complete without a Flake, despite a shortage expected for a second year in a row due to supply chain issues.

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Evening Standard

Elon Musk says his German and US factories are losing “billions of dollars”

The impact of supply chain problems in China on Tesla’s new battery factories in the US and Germany mean they are losing billions of dollars, according to the company’s multi-billionaire founder.

Benzinga

Leisuretown: Diplo And Rob Dyrdek's New Cannabis Seltzers Launch In California Via Agreement With HERBL

Thomas Wesley Pentz, better known for his artistic name, Diplo, partnered with California cannabis beverage company Leisuretown, professional skateboarder Rob Dyrdek and cannabis supply chain company HERBL, to launch a new line of cannabis drinks under the Leisuretown brand name.

Roll Call

SEC's climate rule heats up debate on supply chain emissions - Roll Call

The business world is divided over whether the SEC should require disclosure of Scope 3 emissions, or those from a company's supply chain.

The Guardian - UK

Harrods delays summer discount sale due to global supply chain issues

Supplies are running ‘two to three weeks’ behind, a situation the store says has been exacerbated by post-Brexit staff shortages

Evening Standard

The troubled Brexit legacy begins to become clear six years on from the referendum

Standard City Voices: The slow-burn impact of Brexit

Birmingham Post

Offshore wind industry told how consenting work and supply chain growth will aid acceleration

Ministerial address at RenewableUK's Global Offshore Wind event

Benzinga

Winnebago Industries Q3 Earnings Top Estimates; Warns On Inflation Pressures

Winnebago Industries Inc (NYSE:WGO) reported third-quarter FY22 sales growth of 52% year-on-year, to $1.46 billion, beating the consensus of $1.20 billion. Towable segment revenue grew 45% Y/Y to $805.6 million, driven by pricing increases and solid unit growth due to a strong dealer order backlog. Motorhome revenue of $516.3 million increased 34% Y/Y.…

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