News

Supply Chain

Reuters | Equities.com |

In its biggest acquisition in a decade, Panasonic Corp on Friday said it will buy U.S. supply-chain software company Blue Yonder in a deal worth $7.1 billion, to tap growing demand from companies as the COVID pandemic tests their resilience to disruption.

Panasonic, which bought a 20% stake in Blue Yonder for 86 billion yen ($797 million) last year, will acquire the rest of the stock from shareholders including Blackstone Group Inc and New Mountain Capital, in an agreement, including debt, that values Blue Yonder at $8.5 billion, the company said in a press release.


Kimberly Redmond | Equities.com |

Renesas Electronics Corporation, a key automotive semiconductor supplier, said one of its plants in northeastern Japan damaged by a fire in March will be running at full capacity by the end of May.

On Monday, Renesas said it restarted partial production over the weekend at the Naka plant and will gradually ramp back up to 100% output by the end of May and should reach its previous shipping volumes by early July.


Reuters | Equities.com |

U.S. President Joe Biden met with executives from major companies on Monday to discuss the global chip shortage that has hit automakers and spurred Intel Corp to announce it plans to make chips for car plants at its factories in the next six to nine months.

During the meeting, Biden said he had bipartisan support for legislation to fund the semiconductor industry. He previously announced plans to invest $50 billion in semiconductor manufacturing and research as part of his drive to rebuild U.S. manufacturing under a $2 trillion infrastructure plan.


Reuters | Equities.com |

General Motors Co and Ford Motor Co both said on Thursday they will cut more vehicle production due to a semiconductor chip shortage that has roiled the global automotive industry.

The White House plans a summit on the chip shortage issue next Monday that is expected to include GM Chief Executive Mary Barra and Ford Chief Executive Jim Farley and top technology firm executives.


Kimberly Redmond | Equities.com |

Apple Inc (Nasdaq: AAPL) has postponed production of some MacBooks and iPads as the global semiconductor shortage continues, Nikkei Asia reported on Thursday.

According to the report, MacBook production is being hit by a lack of chips that are mounted on the computer’s circuit board, while the iPad is being slowed by issues in the supply chain for display components.


Reuters | Equities.com |

The U.S. trade deficit surged to a record high in February as the nation’s economic activity rebounded more quickly than that of its global rivals and could remain elevated this year, with massive fiscal stimulus expected to spur the fastest growth in nearly four decades.

The economy is roaring as increased COVID-19 vaccinations and the White House’s $1.9 trillion pandemic rescue package boost domestic demand, a chunk of which is being satiated with imports. President Joe Biden last week proposed a $2 trillion infrastructure plan, expected to pull in even more imports and fire up economic growth.


Reuters | Equities.com |

A U.S. auto industry group on Monday urged the government to help as it warned the global semiconductor shortage could result in 1.28 million fewer vehicles built this year and disrupt production for another six months.

The U.S. Commerce Department should dedicate a portion of funding in a proposed bill to expand U.S. semiconductor production to auto sector needs, the Alliance for Automotive Innovation said in written responses to a government-initiated review.


Reuters | Equities.com |

A recent fire at a Japanese semiconductor factory and severe weather in parts of the United States in February have exacerbated an ongoing chip shortage plaguing the global auto industry, data firm IHS Markit said on Wednesday.

IHS said it now expects disruptions to the production of nearly 1.3 million global light vehicles, up from a prior forecast of 1 million in the first quarter.


Kimberly Redmond | Equities.com |

Samsung Electronics Co said production at its US semiconductor plant in Texas has returned to near-normal levels following more than a month of disruption.

The South Korean chipmaker’s Austin plant was ordered to temporarily halt production amid power outages and severe winter weather last month.


AP News | Equities.com |

Experts boarded the massive container ship Tuesday that had blocked Egypt’s vital Suez Canal and disrupted global trade for nearly a week, seeking answers to a single question that could have billions of dollars in legal repercussions: What went wrong?

As convoys of ships again began traveling through the artery linking the Mediterranean and Red Seas, a canal service provider said more than 300 vessels carrying everything from crude oil to cattle were still waiting for their turn in a process that will take days. Egyptian government officials, insurers, shippers and others similarly waited for more details about what caused the skyscraper-sized Ever Given to become wedged across the canal on March 23.