01. North America
[Amazon’s Shopify user battle upgrade: launch estimated delivery time] According to reports, both Shopify and Amazon recently announced a new feature, that is, the estimated time of arrival of packages to consumers, the consumer battle between the two e-commerce giants more intense. In late April, Amazon launched its Buy With Prime service, which allows online sellers to offer Prime-related services like fast shipping, free shipping and free returns to customers who shop on sites other than Amazon.com.
Shopify also launched a similar service alongside its earnings report, a new service called Shop Promise that will provide shoppers with expected delivery dates from merchant stores and other sales channels such as Google, Facebook and Instagram. Shopify also offers package tracking through its Shop app, allowing users to keep track of the status of their packages and their current location.
[In response to inflation, Microsoft raises wages for employees] Microsoft CEO told employees that due to the tightening labor market and high inflation, Microsoft decided to give employees a pay increase. U.S. inflation hit 8.3% in April, the highest in nearly 40 years. Tech companies have been forced to fight inflation with pay increases. Alphabet tweaked its performance system so employees could be paid more, and Amazon promised to double its top base salary.
He told employees that as the company nearly doubled its global performance budget, Microsoft would allocate more money to early- and mid-career employees, focusing on specific regions. For those employees at level 67 and below, Microsoft is raising the annual stock incentive range by at least 25%.
[Microsoft's IE browser will be officially retired on June 16] Microsoft Edge browser officially announced that Microsoft's IE browser will be officially retired on June 16, and then its functions will be taken over by Edge browser. However, Microsoft will still bring continuous improvements to Microsoft Edge's "IE Compatibility Mode". IE Mode in Microsoft Edge extends the use of legacy applications even after IE is retired. It is reported that not long ago, the desktop market share of Edge browser finally exceeded 10%. Become the second most popular desktop browser in the world, the first is Google Chrome.
Abbott reaches deal with FDA to reopen infant formula plants to ease national shortage Michigan manufacturing plant to help ease a nationwide shortage of infant formula.
Under the terms of the agreement, Abbott has agreed to address unsanitary conditions that led to contamination and plant closures, the FDA commissioner said. "The public should be assured that the agency will do everything possible to continue to ensure that the company's infant and other specialty formulas meet FDA's standards for safety and quality," he said in a statement.
[Intel shareholders object to the company’s compensation for its executives] According to a regulatory filing released on the 16th local time, Intel shareholders voted against the company’s compensation for its executives last week. The vote is advisory and won't immediately affect Intel executives' compensation, but sends a signal that some Intel investors are closely watching the CEO's performance and the progress of his turnaround plan for the chip giant. Overall, shareholders with about 34 percent of the shares voted in favor of the package.
[Meal delivery software Uber Eats and Serve Robotics, Motional launch two autonomous delivery pilots] Food delivery software Uber Eats launched two autonomous delivery pilots in Los Angeles on the 16th local time with robotic sidewalk delivery startup Serve Robotics and self-driving car technology company Motional. A self-driving delivery pilot. The new projects are part of a series of new products Uber is launching on its ride-hailing and delivery platform, which will be announced at the company's global product event on the 16th local time.
[The probability of the Fed raising interest rates by 75 basis points in June is 13.6%] 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 86.4%. The probability of 75 basis points is 13.6%; the probability of accumulative rate hikes of 25, 50 and 75 basis points by July is 0%, the probability of accumulative rate hike of 100 basis points is 86.1%, and the probability of accumulative rate hike of 125 basis points is 13.9%.
[Tight supply in the refined oil market, WTI rose to the highest level since March] WTI crude oil futures for June delivery rose $3.71 to settle at $114.20, reaching the highest level since the end of March. U.S. gasoline futures topped $4 a gallon for the first time in history, and the national average retail gasoline price rose to a record high amid tighter global refined oil supplies. Rising crude futures prices tend to spill over quickly into the gasoline market, signaling higher energy costs as the end of the summer driving peak approaches; crude inventories at Cushing fell by about 2.629 million barrels in the week ended May 13. Oil prices rose due to tight U.S. inventories.
[U.S. leans toward aging power plants to fend off power shortages] As parts of the U.S. face potential power shortages, grid operators across the country are taking action to keep older coal- and gas-fired power plants running longer. Grid operators across the country have warned that demand for electricity could soon outstrip supply, in part because traditional power plants are being retired faster than renewables can replace them.
[Model Y is the best-selling electric car in the United States in the first quarter] According to experian data, the total sales of the top ten electric car models in the United States in the first quarter were 142,811. Tesla's (TSLA.O) Model Y topped the list with 52,051 sales, while the Model 3, Model S and Model X came in second, third and seventh, respectively.
02. EU region
[EU initiates the first anti-dumping sunset review investigation on seamless steel pipes in China] The European Commission issued an announcement saying that in response to the application submitted by The European Steel Tube Association on February 10, 2022, The Seamless Pipes and Tubes of Iron or Steel initiated the first anti-dumping sunset review investigation. The products involved are seamless iron pipes (excluding cast iron) and seamless steel pipes (excluding stainless steel) with a circular cross section and an outer diameter exceeding 406.4 mm, involving EU CN (Combined Nomenclature) codes 7304 19 90, ex 7304 29 90, 7304 39 98 and 7304 59 99 (EU TARIC code is 7304 29 90 90). The dumping investigation period in this case is from January 1, 2021 to December 31, 2021, and the damage investigation period is from January 1, 2018 to the end of the dumping investigation period.
[EU launches anti-dumping investigation into China's refillable stainless steel barrels] The European Commission issued an announcement stating that in response to the application submitted by the European Kegs Committee on March 31, 2022, the European Commission will investigate the refillable stainless steel barrels (Stainless Steel Barrels) originating in China. Refillable Kegs) to initiate an anti-dumping investigation. The EU CN (Combined Nomenclature) codes of the products involved are products under ex 7310 10 00 and ex 7310 29 90 (TARIC codes are 7310 10 00 10 and 7310 29 90 10). The dumping investigation period in this case is from January 1, 2021 to December 31, 2021, and the damage investigation period is from January 1, 2018 to the end of the dumping investigation period.
[EU plans to allow companies to buy Russian gas in rubles] According to reports, the European Union is drafting a plan to allow EU companies to use rubles to buy Russian natural gas, while avoiding violations of EU sanctions. According to the report, the European Commission reached an agreement on the content of the new regulations in a closed meeting. The new regulations propose that EU companies can be deemed to have fulfilled EU regulations as long as they pay in US dollars or euros. At the same time, the new regulations do not expressly prohibit companies from opening euro or dollar accounts with Gazprom, nor do they mention whether companies can open ruble accounts.
[Federation of German Industry: Russia's natural gas supply cut will lead to a recession in Europe] The director-general of the German Federal Industry Federation said in a spring report to the European Commission that the interruption of Russian natural gas supply will lead to a recession in the European economy. The Ukrainian conflict and other factors have severely dented economic growth in Europe, the report said. Although the recovery of the service sector continues, the industry has been affected by supply bottlenecks and rising raw material prices. The German economy has been hit very strongly, and this shock will also radiate to Eastern European countries. European institutions must do their best to ease the burden on businesses and private households and push for a breakaway from Russian energy dependence and supply independence. He stressed that the risks to the European economy posed by energy supply disruptions remain high, with Russian gas outages that would stifle growth and plunge the European economy into recession.
03. Other regions
[AliExpress Russia has laid off about 10% of its staff, which is an annual business adjustment] It is reported that the joint venture AliExpress Russia has laid off 40% of its staff. According to insiders close to AliExpress Russia, the company is indeed making annual business position adjustments, but the actual ratio is about 10%. AliExpress Russia is a joint venture company operating independently in Russia. It was jointly established by Ali and Russian partners in 2019, mainly engaged in domestic and cross-border transactions.
[Russia considers suppressing domestic metal prices, with an annual price increase cap of 4%] According to reports, the Russian government is considering the Russian oil company Rosneft's initiative to suppress domestic metal prices, sources said. Rosneft has proposed capping price increases at 4 percent a year, while imposing export duties on metals and iron ore. Russian Prime Minister Mishustin instructed First Deputy Prime Minister Belousov and Finance Minister Siluanov to review Rosneft's proposal. Belousov's office confirmed that the relevant agencies had been instructed to review and study the proposals.
[Russia's oil production rebounded slightly in the first half of May] According to reports, from May 1 to 15, the average daily output of Russian oil and gas condensate was 1.398 million tons, an increase of 1.7% compared with the same period in April. Since the spring of 2021, Russian oil production has maintained a steady growth trend. However, after the Russian-Ukrainian conflict broke out this year, Russia was sanctioned by the United States and Western countries, including a ban on investment in Russian crude oil exploration, production and processing. Data show that in early April this year, Russian oil production fell by 6% compared with the same period in March, and by the end of April the decline expanded to nearly 9%. Russian Finance Minister Anton Siluanov previously said that due to sanctions, Russian oil production could drop by 17% in 2022. Market analysts believe that the reduction in Russian oil production will make the global oil supply more tense, aggravate market worries and push up international oil prices.
[New Zealand introduces emission reduction plan to speed up the promotion of electric vehicles] On May 16, local time, according to New Zealand media reports, the New Zealand government announced an emission reduction plan, proposing to allocate billions of New Zealand dollars in the next four years to finance agriculture, construction, A series of emission reduction projects in the fields of energy and transportation.
An important part of the plan is to increase emission reductions in the transportation sector and accelerate the popularization of electric vehicles. The government will provide subsidies for clean cars, encourage the purchase of low-emission vehicles, invest in electric vehicle charging facilities and will also pilot an electric car rental scheme. By 2035, at least 30 per cent of New Zealand's national light-duty vehicles are expected to be electric. In addition, the plan also proposes to study hydrogen as an alternative energy source and formulate a hydrogen energy development strategy. Funding for the plan will be covered by the Climate Emergency Response Fund totalling NZ$4.5 billion.
[Turkey makes a final ruling on anti-dumping sunset review on China-related heat-resistant glass lids] The Turkish Ministry of Trade issued Announcement No. camdan tencere, tava ve çaydanlık kapakları) made the final ruling on anti-dumping sunset review, decided to continue to levy anti-dumping duties of US$0.52/kg on Chinese producers/exporters, and at the same time, terminated the imposition of anti-dumping duties on products involved in Indonesia and Hong Kong Special Administrative Region of China , the measures will take effect from the date of the announcement and will be valid for 5 years. The Turkish tax number for the products involved is 7010.20.00.00.00.
[Egypt is working on a plan to deal with a possible global economic crisis] Egypt's Prime Minister said at a press conference that Egypt is working on a plan containing five measures to deal with a possible future global economic crisis. Madbouli said the plan focuses on supporting the localization of industries and promoting the export of local products, increasing the share of private enterprises in Egypt's economy and reducing the government's budget deficit and public debt.
[Japan's April corporate price index rose 10%, the largest increase since 1981] The initial value of the domestic corporate price index (100 in 2015) announced by the Bank of Japan in April increased by 10.0% from the same month of the previous year, reaching 113.5, a record high Comparable data rose the largest since 1981 and reached double digits for the first time. At the same time, the index has increased year-on-year for 14 consecutive months, and the increase has continued to remain high.
[South Korea signs contract with US company to purchase 40 training helicopters] The Korea Defense Agency announced that the Defense Agency signed a contract to purchase basic flight training helicopters with Bell Textron Asia. According to the purchase contract worth 170 billion won (about 900 million yuan), Bell Helicopter will provide South Korea with more than 40 Bell 505 land and naval pilot training helicopters and 8 flight simulators by 2025.
[The Korean Financial Authority has conducted an emergency movement inspection on the LUNA incident and will speed up the formulation of the Basic Law on Digital Assets] The Korean Financial Services Commission and the Financial Supervisory Authority have started an urgent movement inspection on the LUNA incident and will speed up the formulation of the Basic Law on Digital Assets and other related laws , while complying with the virtual currency regulatory laws formulated by major countries. Direct action cannot be taken as South Korean financial authorities currently do not have the authority to request data from the Terra platform or to inspect and supervise it. However, the agency plans to try to give financial consumers a chance to be aware of the risks of investing in virtual assets.
[South Korea's domestic sales of new energy vehicles in April increased by 57.7% year-on-year, hitting a record high for two consecutive months] According to the "Auto Industry Trends in April" released by the Ministry of Industry, Trade and Energy of Korea on the 16th, the domestic sales of new energy vehicles increased by 57.7% year-on-year. , which was 39,624 units, showing a growth trend for three consecutive months and setting a new historical record for two consecutive months. Among them, domestic cars increased by 83.6% to 28,996 units; imported cars increased by 13.9% to 10,628 units. The export of new energy vehicles increased by 40.2% year-on-year to 47,953 units, and the export value increased by 42.4% to US$1.32 billion, both of which maintained growth for 16 consecutive months, hitting a record high.
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[Amazon launches LCL promotion for China-US routes in May] Amazon's global logistics team launched LCL promotion for China-US routes in May, and the price of LCL for China-US routes in May is expected to be 30% lower than that of clippers ~50% shipping cost. At present, Amazon's China-US shipping FCL service has covered major ports in Shanghai, Shenzhen, Qingdao, Ningbo, Xiamen, and Tianjin, meeting the different shipping needs of cross-border sellers.
[Cargo volume at the Port of Virginia in April increased nearly 13% year-on-year] The Virginia Port Authority said that the Port of Virginia handled 323,244 20-foot equivalent units in April, an increase of 12.9% year-on-year. The all-time record was set in December 2021, and April was just 2,300 TEUs short of the target, according to the Port Authority.
Loaded imports rose 3.4% to 142,639 TEUs in April, while loaded exports rose 4.2% to 99,589 TEUs. Since the port's fiscal year began last July, the port has handled nearly 1.2 million TEUs, an increase of 10.2 percent compared to the same period in 2020 and 2021.
Korean Air will impose record fuel surcharge on international routes in June The fee has been increased from the current level of 17 to a maximum of level 19. A Korean Air official said that from June 1, the surcharge for one-way tickets on Korean Air's international routes will range from 37,700 won ($29.4) to 293,800 won, depending on the route. Asiana Airlines will impose a surcharge of 40,400 won to 229,600 won.
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[China Association of Automobile Manufacturers: Exports of automobile enterprises in April fell slightly compared with the same period of the previous year ] According to the statistical analysis of the China Association of Automobile Manufacturers, in April 2022, the exports of automobile enterprises fell slightly compared with the same period of the previous year. In April 2022, auto companies exported 141,000 vehicles, down 17.2% month-on-month and 6.6% year-on-year. From January to April 2022, auto companies exported 723,000 vehicles, a year-on-year increase of 39.4%. In April 2022, passenger cars exported 99,000 units this month, down 18.1% month-on-month and 15.2% year-on-year. From January to April 2022, 551,000 passenger vehicles were exported, a year-on-year increase of 39.1%. In April 2022, 42,000 commercial vehicles were exported, a month-on-month decrease of 14.8% and a year-on-year increase of 23.2%. From January to April 2022, 173,000 commercial vehicles were exported, a year-on-year increase of 40.5%.
[Mercedes-Benz recalls over 120,000 imported and domestic vehicles ] Mercedes-Benz (China) Automobile Sales Co., Ltd. recalls some imported CLA and A-class vehicles with production dates from November 10, 2020 to September 25, 2021 A total of 2 vehicles; Beijing Benz Automobile Co., Ltd. recalls some domestic A-class and GLB SUV vehicles with a production date from July 7, 2020 to August 19, 2021, a total of 3 vehicles. Mercedes-Benz (China) Automobile Sales Co., Ltd. is recalling some imported ML, GL and R-Class vehicles with production dates between April 28, 2005 and August 31, 2015, totaling 120,297 vehicles.
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[eBay Announcement: Service Metric Ratings and Seller Ratings for Seller Accounts in May Will Be Protected] Due to the ongoing impact of the epidemic, eBay has decided to dispute the unreceived items in the Service Metrics rating of seller accounts in May ( Open INR) rating and Seller Standard (Seller Standard). The original text of the announcement is as follows:
Specifically, during the May evaluation cycle, items in the Seller Account Service Metrics rating (Open INR) and Seller Standard will be protected from downgrades. If a seller's account performs well during the May evaluation cycle, we'll still increase the account's rating as expected. However, we will not downgrade either of these ratings due to the account's recent performance. This account protection measure is for sellers in regions hardest hit by the pandemic.
[Amazon UK Updates Amazon Renewed Program Terms] Amazon UK has announced that multiple tiers will be introduced for wireless and personal computer product categories such as smartphones, smartwatches, laptops, tablets and desktops. To create an ASIN quote, the following is the content of the announcement:
Amazon is updating the terms of the Amazon Renewed program: introducing multiple tiers for wireless and personal computer product categories such as smartphones, smartwatches, laptops, tablets, and desktops. Sellers can create renewal ASIN offers under three different appearance conditions:
Level 1 – in good condition (former Amazon Renewed rating);
Level 2 – fair condition;
Level 3 – Condition acceptable.
Last Morning Post: There is a shortage of milk powder, and the United States plans to import overseas formula milk powder; the EU lowers its GDP forecast in the euro area, and the inflation is expected to be 6.1% | Cross-border E-commerce Daily
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