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Supply Chain Problems

All articles tagged with #supply chain problems

business2 years ago•0 min saved

Coffee Trader Mercon Declares Bankruptcy, Initiates Asset Sales

Mercon Coffee Corp, a green coffee supplier based in the Netherlands, has filed for Chapter 11 bankruptcy with plans to sell off assets and wind down operations due to higher interest rates, volatile coffee prices, and supply-chain problems. The company listed assets and liabilities of up to $500 million each in its bankruptcy petition, allowing it to continue operating while selling assets. Mercon, which traces its roots to coffee farms in Nicaragua, has expanded throughout the supply chain in recent years.

via Bloomberg Law|

#asset-sales #bankruptcy #business

politicseconomy2 years ago•1 min saved

Biden Unveils Comprehensive Logistics Plan to Strengthen U.S. Supply Chain Resilience

President Joe Biden will convene the first meeting of his supply chain resilience council and announce 30 actions aimed at strengthening the U.S. logistics system. The actions include using the Defense Production Act to invest in domestic manufacturing of crucial medicines, improving data sharing among agencies to monitor supply chains, and partnering with the Energy Department on renewable energy resources. The announcement comes as supply chain problems have fueled higher inflation, which remains a political challenge for Biden ahead of the 2024 presidential election. The council will be co-chaired by Lael Brainard and Jake Sullivan, with members from various government departments.

via CNBC|

#domestic-manufacturing #inflation #joe-biden

energy2 years ago•4 min saved

"Setback for Wind Industry as Ørsted Cancels Major Offshore Projects in N.J."

Wind developer Orsted has canceled two large offshore wind projects in New Jersey, citing supply chain problems, high interest rates, and a failure to obtain desired tax credits. The cancellation highlights the financial challenges facing the offshore wind industry, which is seen by supporters as a crucial part of transitioning to clean, renewable energy. However, opponents argue that the industry is unworkable without significant financial subsidies. Despite this setback, other wind projects are still moving forward, and New Jersey has several other offshore wind projects in development.

via NPR|

#energy #new-jersey #offshore-wind-projects

automotive2 years ago•1 min saved

Used Vehicle Prices Show Signs of Stabilization in 2023

Wholesale used vehicle prices in the U.S. increased for the first time since March, according to Cox Automotive's Manheim Used Vehicle Value Index. While prices remain elevated compared to historical levels, they are down 7.7% from August 2022. Tight inventories and expected sales levels are expected to prevent substantial pricing declines for the remainder of the year. Retail prices for consumers typically follow changes in wholesale prices. Used vehicle prices have been high due to the Covid pandemic and supply chain issues, leading to low supply of new vehicles and record-high prices. Cox Automotive predicts a slow and gradual recovery in wholesale prices to pre-pandemic levels by 2028.

via CNBC|

#automotive #cox-automotive #retail-sales

business2 years ago•1 min saved

Orsted's US Offshore Wind Projects Face $2.3 Billion Risk

Orsted, the world's largest offshore wind farm developer, has seen its share price plummet by 20% due to the risk of $2.3 billion in impairments in its US operations. The company cited supply chain problems, soaring interest rates, and a lack of new tax credits as the main factors contributing to the impairments. Delays from suppliers could result in impairments of up to 5 billion crowns, while the failure to secure additional tax credits may lead to impairments of another 6 billion crowns. The increase in long-dated interest rates in the US will also cause impairments of around 5 billion crowns. Orsted's announcement has further dampened investor sentiment towards the stock.

via Reuters|

#business #impairments #offshore-wind

technology2 years ago•2 min saved

Apple's Vision Pro Headset Faces Production Challenges, Leading to Drastic Cuts

Apple is reportedly making "drastic cuts" to production forecasts for its Vision Pro mixed reality headset due to the complex design and production difficulties. The company is said to be unhappy with the productivity of manufacturing partners supplying the micro-OLED displays and curved lenticular lens. As a result, Apple is expected to produce fewer than 400,000 units in 2024, significantly lower than its earlier sales target of 1 million units. Additionally, plans to launch a more affordable version of the headset have been pushed back, as suppliers have failed to meet expectations.

via MacRumors|

#apple #mixed-reality-headset #production-cuts