01. North America
According to people familiar with the matter, Amazon has been suffering from the problem of excessive warehouse capacity as the online shopping tide driven by the epidemic subsides , so the company is considering moving At least 10 million square feet of space is sublet, and leases with landlords may even be terminated. Amazon’s current excess storage capacity includes locations in New York, New Jersey, Southern California and Atlanta, the person said, and the excess space could be well over 10 million square feet, or even three times that amount, but the final assessment The numbers are yet to be determined.
[The United States considers using emergency diesel reserves to ease oil prices] The Biden administration is considering using emergency diesel reserves to ease supply constraints, a measure that was rarely used before. The White House is considering declaring a state of emergency that would allow it to use Northeast home heating oil reserves in the New England region. A White House official said there are 1 million barrels of ultra-low sulfur distillate in the reserve. While the stockpile is only enough for a day's supply on the East Coast during the summer and likely won't cut diesel prices significantly, it could prevent disruptions to the fuel's spot supply. Diesel inventories have fallen to record lows in recent weeks, and rising diesel and jet fuel prices have raised costs in everything from trucking to agriculture and air travel, and added to inflationary pressures.
[The U.S. makes the second double-reverse sunset review on coated paper and the final ruling on industrial damage] The U.S. International Trade Commission (ITC) voted against coated paper imported from China and Indonesia (Coated Paper Suitable for High-Quality Print Graphics Using Sheet-Fed Presses) ) made the second anti-dumping and anti-subsidy sunset review affirmative final ruling on industrial damage, ruling that if the anti-dumping and countervailing duties on the products involved are cancelled, within a reasonably foreseeable period, the substantial damage caused by the products involved to the U.S. domestic industry will be continue or reoccur. In this ruling, all five members voted affirmatively. According to the affirmative ruling of the US International Trade Commission, the United States will continue to impose anti-dumping and countervailing duties on the products involved in China and Indonesia.
[US economists warn that the severity of the global inflation shock is "an order of magnitude worse" than in the 1970s] At the annual meeting of the World Economic Forum in Davos, the Nobel laureate in economics said that current inflation is "an order of magnitude worse than the 1970s" "The Fed is "completely unprepared" for this crisis, which is not just about oil, but a hodgepodge of food, oil supply and pandemic crises. The Harvard professor and former chairman of the White House Council of Economic Advisers also said: "We are returning to the old days of monetary policy, where employment is far ahead of inflation, and inflation becomes irrelevant. Unless inflation disappears within the next six months, it will Brings a hard lesson and will be remembered as a negative lesson by Fed officials for 20 to 30 years.”
[American media and British think tank reports believe that the United States is facing difficulties in "relocating production lines"] According to reports, some companies in the United States hope to move production lines closer to their own countries, but they find that they want to replicate the mature manufacturing centers in Asia. The supply chain takes a long time, and "relocating the production line" faces many difficulties. A report by the British Economist Intelligence Unit believes that there will be no large-scale supply chain return in North America in the next few years. The analysis points out that the industrial chain of multinational companies is built through long-term production and operation, and is determined by comprehensive factors such as market potential, industrial supporting capacity, labor quality, and infrastructure maturity. In the global supply chain system, the economies of various countries have formed a pattern of "you have me, I have you". Today, the US economic ecology and many practical situations make it more difficult to return the so-called supply chain.
[The probability of the Fed raising interest rates by 50 basis points in June is 88.4%] According to CME's "Federal Reserve Watch": the probability of the Fed raising interest rates by 25 basis points in June is 0%, and the probability of raising interest rates by 50 basis points is 88.4%. The probability of 75 basis points is 11.6%; the probability of accumulative rate hikes of 25, 50, and 75 basis points by July is 0%, the probability of accumulative rate hikes of 100 basis points is 82.9%, and the probability of accumulative rate hikes of 125 basis points is 16.4%, and the probability of a cumulative rate hike of 150 basis points is 0.7%.
[Amazon and Flipkart are rumored to make strategic investments in diagnostics chain Metropolis] Metropolis Healthcare, a diagnostics chain operating in India and Africa, is seeking more than $300 million in financing and is selling a significant minority stake to attract strategic partners. Flipkart, a retail company owned by Walmart, is one of the potential strategic investors who signed a non-disclosure agreement with Metropolis, which Amazon has made preliminary discussions with, according to people familiar with the matter. In addition, Metropolis is said to have reached an agreement with global funds including KKR, TPG Barings, and talks with Blackstone are also underway.
[Snap plummets nearly 30% after the market, CEO warns that its earnings report will fall short of expectations and plans to slow hiring] The CEO of Snap, the parent company of Snapchat, warned in a report to employees that the company will not be able to make it in the second quarter Achieve revenue and adjusted earnings goals. The company's stock price plummeted nearly 30% in after-hours U.S. stocks after hearing the news. The social media company will also slow hiring through the end of the year as it looks to manage expenses, Speigel said. As of the close on the 23rd, Snap's shares have fallen more than 50% so far this year, while the S&P 500 has fallen 17% over the same period.
[Meta CEO Zuckerberg Indicted for Participating in Data Breach Decisions] The CEO of Meta, the parent company of US social media platform Facebook, has been indicted by the US Attorney General in Washington, D.C. He accused the Meta CEO of being directly involved in causing a breach Data breach decisions related to Cambridge Analytica. In a statement, he said there was evidence that Meta's subsidiary Facebook failed to protect the privacy and data of its users, and that Meta's chief executive was personally involved, leading directly to the data breach.
[Airbnb to shut down domestic operations in China] According to reports, all Airbnb listings, homes and experiences in mainland China will be taken down by this summer. Airbnb, which officially launched its mainland China operations in 2016, has faced increasing competition from domestic rivals, sources said, already costly and complex to operate the unit. Previously, Airbnb has also made many adjustments in mainland China in order to cater to the habits of Chinese users. For example: introducing mobile payment and opening WeChat applet.
[EY survey: US car buyers are far less interested in electric vehicles than overseas car buyers] The latest survey of 13,000 potential car buyers around the world by consulting firm Ernst & Young shows that only 29% of US respondents said they plan to buy next time When choosing an electric vehicle, 52% globally, the first time more than half in the Ernst & Young survey. Of the 18 major markets EY surveyed, U.S. consumers showed the least interest in electric vehicles. Nearly three-quarters of traditional car buyers said they were not interested in EVs because of a "lack of charging infrastructure" and because plug-in vehicles are too expensive. The situation in the US stands in stark contrast to consumers in Asia and Europe. According to the survey, Italian consumers are most interested in buying an electric vehicle, with 73% planning to choose an electric vehicle for their next car purchase.
02. EU region
[Europe plans to invest 2 billion euros to restart magnesium production by 2025] Market news: According to a European Commission working paper, EU policymakers have launched an initiative to invest 2 billion euros to restart magnesium production by 2025. Production, at least three companies are working on related projects.
[EU will hold a special summit at the end of this month to focus on energy and defense issues] The European Union announced on the 23rd local time that it will hold a special summit from the 30th to 31st of this month, focusing on issues such as Ukraine, defense, energy and security. Earlier this month, the European Commission proposed the sixth round of sanctions against Russia, including measures such as an oil embargo. However, because Hungary opposed the imposition of an oil embargo on Russia, the plan has so far failed to pass. It is expected that further coordinating positions on the oil embargo will be one of the most important tasks of this special summit.
[German Economy Minister: Support the EU to put aside Hungary's implementation of the Russian oil embargo] The German economy minister said in an interview that he was disappointed that the EU had not yet agreed to impose an oil embargo on Russia, and said he would support the EU without Hungary. Participate in the decision to implement the embargo. It is understood that the reason for Hungary's previous disagreement with the ban is that the sanctions program will cause huge problems for Hungary, undermine the country's energy security, and will prevent the country from obtaining the oil needed for economic operation.
03. Other regions
[Singapore’s core inflation rate in April reached a 10-year high of 3.3%] The Monetary Authority of Singapore and the Ministry of Trade and Industry released a joint statement on the consumer price index. The statement showed that Singapore’s core inflation rate continued to rise, reaching 3.3% in April, the highest in 10 years. .
[The purchasing power of the yen falls to the weakest level since 1971] The purchasing power of the yen fell to a new half-century low last month after the nominal exchange rate weakened rapidly and overseas inflation was higher than that of Japan. The Japanese yen fell to 60.9 in real effective terms, the lowest since August 1971, Bank of Japan data released on Monday based on figures from the Bank for International Settlements showed. The weighted average exchange rate of the yen against other currencies is a measure of Japan's international competitiveness and takes into account factors such as trade and inflation.
[South Korea Customs: Exports in the first 20 days of May increased by 24% year-on-year and semiconductors increased by 13.5% year-on-year] According to preliminary statistics released by the Korea Customs Service (Customs), South Korea’s exports in the first 20 days of May increased by 24.1% year-on-year to US$38.617 billion . In terms of various categories, semiconductors increased by 13.5% year-on-year, petroleum products increased by 145.1% year-on-year, and passenger cars, steel products, auto parts and ships increased by 17.5%, 25.6%, 8.3%, and 28.3%, respectively. Wireless communication equipment decreased by 21.3% year-on-year.
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[ ONE Releases Dangerous Goods Cargo Guidelines for Shanghai Port Terminals ] Ocean Network Shipping (ONE) issued an announcement saying that in view of the requirements of China's "Yangtze River Protection Law", the Shanghai Port (Waigaoqiao Wharf) Dangerous Goods Cargo Guidelines are hereby issued.
The scope of application is for goods that are loaded, unloaded or transshipped at Shanghai Port (Waigaoqiao Wharf), and goods that have not been loaded and unloaded but transit (pass through) Waigaoqiao Wharf. All dangerous goods transiting (passing through) Waigaoqiao Wharf:
A complete (100%) list of ingredients and CAS number must be completed on the Material Safety Data Sheet (MSDS).
If the goods consist of multiple components, the proportion of each component needs to be provided, and the total proportion should be equal to 100%.
A separate CAS number must be provided for each component of the shipment.
【 MSC Launches Nanjing-Shanghai Port Sea-Rail Combined Transport Service 】 MSC has been committed to seamlessly extending port functions to the hinterland, and in the Yangtze River Delta region, creating a faster and more efficient sea-rail combined transportation export channel for foreign trade enterprises. On the 23rd, with a long whistle, Mediterranean Shipping (MSC)'s first Nanjing-Shanghai port sea-rail train, loaded with export goods, left the station, transited through Shanghai port, and went to all over the world. MSC said that it has been committed to seamlessly extending the port function to the hinterland, and in the Yangtze River Delta region, to create a faster and more efficient sea-rail combined export channel for foreign trade enterprises. At the same time, in terms of green environmental protection, this move can help save carbon and reduce emissions, and realize the long-term sustainable development of MSC.
[ MSC to operate a new container terminal in the Panama Canal ] MSC will operate a new container terminal in the Panama Canal after the port's plans and concessions changed hands. Notarc Management Group (NMG), a private investment and asset management firm focused on Latin America, has announced the acquisition of concessions and plans to complete the $1.4 billion Panama Canal Container Port (PCCP) waterway at the entrance to the Atlantic Ocean.
[ Baltic dry bulk index hits a more than five-month high ] The Baltic dry bulk index rose on the 23rd, hitting a more than five-month high, as the capesize index rose. The Baltic overall dry bulk index rose 25 points, or 0.8%, to 3,369, its highest level since Dec. 8. The capesize index rose 76 points, or 1.7%, to 4,602. Average daily earnings for capesize vessels increased by $631 to $38,169. The panamax index slipped 5 points, or 0.2%, to 3,377. Average daily earnings for panamax vessels fell $48 to $30,392. The Supramax index rose 2 points to 2,818. The Handysize index was up 2 points at 1,664.
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[Amazon continues to expand investment in renewable energy, sellers complain that it is better to reduce commissions] Amazon US, European and Japanese stations announced that Amazon will continue to expand investment in renewable energy in the future, and will develop in the field of renewable energy in the future business, the following is the content of the announcement:
Since 2020, Amazon has become the world's largest purchaser of renewable energy. Amazon will continue to expand its renewable energy investment in the future, and recently announced that it has invested in 37 new renewable energy projects around the world. By investing in these new projects, renewable energy generation will increase by nearly 30 percent, from 12.2 gigawatts (GW) to 15.7 GW. Amazon currently has 310 renewable energy projects in 19 countries, including 134 wind and 176 solar projects.
[Russian Post says foreign sellers will enjoy 50% discount on international postage when shipping through Russian e-commerce platforms] Before 2024, foreign sellers and product manufacturers who cooperate with Russian e-commerce platforms can enjoy up to 50% discount on international postage. Earlier, the company announced that it had signed an agreement with the Russian Federation's Ministry of Industry and Trade to receive a subsidy of 1.9 billion rubles, which will be used to reduce rates for sending international mail. The news pointed out that foreign sellers and manufacturers of goods that cooperate with Russian e-commerce platforms can enjoy up to 50% discount up to and including 2024.
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