Share to Twitter Share to Linkedin Supply chains and logistics were thrown into chaos during the pandemic, creating a number of challenges including trade disruptions, port congestion, and soaring freight rates. Brands selling and manufacturing furniture especially felt the strain caused by these delays. Delays and cancellations led to backlogs. Port bottlenecks emerged. But not all retailers were affected in the same way. For furniture brand Castlery , long lead times are one reason supply chain management has always been a priority for the business. “In furniture, where the products are not only bulky but non-standard size, efficient supply chain management is critical to ensure a seamless customer experience in terms of fulfillment and timely deliver,” said Declan Ee, Castlery’s co-founder. The past two years have been challenging for the furniture retail industry, and many manufacturers still haven't caught up with their backlogs. In … [Read more...] about How Furniture Brands And Manufacturers Are Coping With Ongoing Supply Chain Strain
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Covid Rips Through North Korea As 15 More Deaths And Nearly 300,000 New Cases Reported
Share to Twitter Share to Linkedin Topline North Korea reported 15 new Covid-19 deaths along with hundreds of thousands of new patients with “fevers,” as the country pledges to mobilize millions of health and other workers to fight its first officially acknowledged coronavirus outbreak. Key Facts According to the state-run Korean Central News Agency (KCNA), the country reported 296,180 new infections on Sunday, pushing the country’s official case count to 820,620. The staggering surge in new cases has come after North Korea reported its first-ever Covid-19 outbreak on Thursday. Since the start of the current outbreak, North Korea has reported 42 fatalities linked to the coronavirus. The speed of the outbreak has raised concerns of a humanitarian catastrophe in the country as most of its residents are believed to be unvaccinated and its public health system is reportedly in a poor state. To help tackle the outbreak, all … [Read more...] about Covid Rips Through North Korea As 15 More Deaths And Nearly 300,000 New Cases Reported
The New York City Recovery Index: May 2
Editor's note: Below you'll find the week 87 release of the NYC Recovery Index, originally published May 3, 2022. Visit the NYC Recovery index homepage for the latest data. New York City’s economic recovery index declined in the week ending April 23, 2022, falling just over a point to close at 74 out of 100, with all major components of the index recording a weekly decline. COVID-19 hospitalization rates continued to rise, along with an uptick in unemployment insurance claims. Home sales, rental vacancies, subway ridership, and restaurant reservations all declined compared to the week of April 16. On a positive note, home sales and UI claims remain fully recovered, with pending home sales still considerably above pre-pandemic levels. New York City’s economic recovery stands at a score of 74 out of 100, according to the New York City Recovery Index, a joint project between Investopedia and NY1 . Over two years into the pandemic, New York City’s economic recovery is just … [Read more...] about The New York City Recovery Index: May 2
Stocks’ Decline Steepens on Bullard’s Rate Hike Comments, Inflation Data
Stocks fell further this afternoon as the Fed's James Bullard said he'd like to see rates a full percentage point higher by July. Bullard backs at least a half-point hike on the way to a full point gain before July, the Federal Reserve Bank of St. Louis president told Bloomberg News in an interview today. Bullard votes on monetary policy. Key Takeaways Stocks fell further this afternoon as the Fed's James Bullard said he'd like to see rates a full percentage point higher by July. Stocks had been pulling back from the morning's steep declines as strong corporate earnings from Walt Disney and Mattel partially offset stronger-than-expected inflation data. The Consumer Price Index report released today revealed an annual inflation rate of 7.5%, higher than expected and the largest increase in 40 years. Bond yields rose to their highest since July 2019. Today's Market Movers Stocks had pulled back from the morning's steep declines, with some indexes moving … [Read more...] about Stocks’ Decline Steepens on Bullard’s Rate Hike Comments, Inflation Data
Stocks Gain as Tech Rallies and Investors Await Fed Rate Decision
U.S. stock futures are moving higher, led by technology shares on the Nasdaq exchange, after another volatile day of trading ahead of an announcement from Federal Reserve policymakers about the future of monetary policy . Key Takeaways U.S. stock futures are moving sharply higher, led by technology shares on the Nasdaq exchange. Traders are awaiting a 2 p.m. Eastern time announcement from Federal Reserve policymakers about the future of monetary policy. Cryptocurrencies' rally continued. Oil again marched higher, and the dollar strengthened against the euro. Bond yields fell. Microsoft Corporation ( MSFT ) helped lead tech shares higher after reporting fiscal second quarter results that beat expectations while forecasting better-than-expected quarterly sales for the current quarter. Tesla, Inc. ( TSLA ), scheduled to report earnings after markets close today, is also gaining. The Dow Jones Industrial Average (DJIA) was down more than 800 points … [Read more...] about Stocks Gain as Tech Rallies and Investors Await Fed Rate Decision
Electric Truck Wars Heat Up
Electric trucks in the pipeline are sending shares higher Tesla rival Nikola is building electric trucks with hydrogen fuel cells A lot of hype and promotion, but the market may not be large enough Nikola has to build a large hydrogen generation and fueling network Trucks are as American as Apple Pie or baseball. Ford launched the first factory-built pickup truck for farmers in 1925, and the company's F-Series has been America's best-selling vehicle for 38 straight years. We're hearing a lot about trucks lately, but these aren't your father's or grandfather's pickups. We're not even 100% certain they'll be yours. For one thing, most only exist as prototypes, digital images and specs at this point and not all may make it to market. Ford yesterday delayed its F-150 electric pickup truck launch to mid-2022. Yesterday Tesla's stock price tore past $1,000 after CEO Elon Musk told employees that it's time to "go all out" and bring the Tesla semi, unveiled in 2017, to volume … [Read more...] about Electric Truck Wars Heat Up
Rules for DOE’s renewable energy auction set
The Department of Energy (DOE) has released the terms of reference for auctioning off 2,000 megawatts of renewable energy (RE). Under the guidelines, renewable capacities to be offered are broken down as follows: 1,400 MW for Luzon, 400 MW for the Visayas and 200 MW in Mindanao. For Luzon, the agency is seeking suppliers for 900 MW of solar, 360 MW of wind, 80 MW of hydro and 60 MW of biomass. The target capacity for the Visayas is 260 MW of solar, 120 MW of biomass and 20 MW of wind. Meanwhile, in Mindanao, the capacity requirement is 100 MW of solar, and 50 MW each of hydro and biomass. Supply contracts shall not exceed 20 years, with the commencement date targeted between Dec. 26, 2022, and Dec. 25, 2025. The RE plant must be qualified under renewable portfolio standards, a market-based mechanism that mandates industry players to source a portion of electricity from eligible renewable facilities. The DOE will hold a prebid conference virtually, providing an … [Read more...] about Rules for DOE’s renewable energy auction set
Technical View | Nifty forms Doji candle, weakness can resume on breach of 15,735
The Nifty ended on a positive note after six straight days of losses in a highly volatile session on May 16, with gains in auto and financial names lifting the market. Amid mixed Asian cues, the Nifty opened marginal higher and, extended gains as the day progressed and closed in on 16,000 but profit booking at higher levels dragged the index down. The Nifty closed at 15,842.30, up 60.10 points, or 0.38 percent, and formed a Doji candle on the daily scale. "For the last three trading sessions, the index is trying to defend its recent low of 15,735. Hence, as long as the Nifty sustains above the said low, the hopes of a pullback attempt from the bulls will remain alive, which will be confirmed on a close above 16,100 levels. In that scenario, a decent target of 16,400 can be expected," Mazhar Mohammad, Founder & Chief Market Strategist, Chartviewindia.in, said. As volatility has remained high, if the index breached 15,735 on a closing basis, weakness shall resume with a … [Read more...] about Technical View | Nifty forms Doji candle, weakness can resume on breach of 15,735
Kim Jong Un Slams ‘Irresponsible’ Government And Health Officials As North Korea’s Covid Outbreak Surges
Share to Twitter Share to Linkedin Topline North Korean leader Kim Jong Un blamed his own government officials for failing to tackle the country’s surging Covid-19 outbreak and ordered his military to step in as the number of suspected cases surged past 1.2 million in just four days since the outbreak was first reported. Key Facts According to the state-run Korean Central News Agency (KCNA), the country reported 392,920 new people with “fever” and eight new deaths linked to Covid-19 on Monday. The state media is only reporting the number of cases with fever—one of many symptoms of Covid—as North Korea is believed to lack adequate supplies to carry out large-scale testing. Since the start of the current outbreak, North Korea has reported 50 deaths linked to the virus. At a Politburo meeting of the ruling party on Sunday, Kim blamed the “irresponsible work attitude” of his government and health officials for the country’s botched … [Read more...] about Kim Jong Un Slams ‘Irresponsible’ Government And Health Officials As North Korea’s Covid Outbreak Surges
30 Executives’ Perspectives On Remote, Hybrid, And In-Office Work
Share to Twitter Share to Linkedin Whether you’re a manager at a company with 3,000 employees or three, something that leaders across industries have learned in the past two years is that giving employees more flexibility is key to retention and recruiting of new hires. The pandemic forced the majority (~70%) of the US workforce to adapt in a plethora of different ways to keep everyone healthy while still continuing to work efficiently. Companies that previously had 0% of their employees working remotely had to figure out how to seamlessly transfer all operations to a 100% digital environment. While obviously a ton of bad things came from the pandemic, that’s not to say there weren’t learnings and lessons discovered across the board. The reality is that more talent in every part of the country, and the world, now has access to greater opportunities because of the increased normalization of remote work. Gone are the days where you have to live in San Francisco … [Read more...] about 30 Executives’ Perspectives On Remote, Hybrid, And In-Office Work