Rich Karlgaard interviews Qualcomm president, Cristiano Amon at Forbes. Here is a small part of their exchange: Rich Karlgaard: Joining me today for Talking With Tech Leaders, is Cristiano Amon, the president of Qualcomm. Now when I think of Qualcomm (QCOM), I think of it as a semiconductor company (with approx. $25 billion in sales and a $100 billion market cap). In fact, today’s guest runs the semiconductor operations for Qualcomm among his many roles. Others think of Qualcomm as a communications company, and more recently, as a 5G global leader. Cristiano, what is Qualcomm? Cristiano … [Read more...]
Report: Major Oil Demand Rebound Readies for 2021
David Hodari reports for The Wall Street Journal that a major oil demand rebound is readying for 2021. He writes: The coronavirus pandemic will hammer global growth and oil demand this year, but supply cuts from producers and a record rebound in demand next year will help to rebalance the oil market, the International Energy Agency said. In its monthly oil-market report Tuesday, the IEA said that while the world’s demand for crude will drop by 8.1 million barrels a day this year—slightly less than forecast in last month’s report—demand in 2021 will rebound by a record 5.7 million barrels a … [Read more...]
COVID-19 Traffic Jams Are Killing Africa’s Truck-based Economy
Nicholas Bariyo reports that traffic jams caused by COVID-19 testing regimes for truckers have increased hauling times for truckers to four times their normal length. He writes: In East Africa, curbs on the movement of truckers could pummel some of the continent’s fastest-growing economies. Rail links across the region are few and often outdated, meaning that everything from gasoline to minerals, foods or building materials is transported by road. Ugandan President Yoweri Museveni has called demands from citizens to close the country’s border to truck traffic suicidal. “We need that … [Read more...]
Americans Don’t Want Chinese Jeans Anymore
Sourcing Journal reports on the deep dive in imports of denim from China, and on which countries are picking up the business. Arthur Friedman writes: Imports from China declined a staggering 67.54 percent year to date through April to $74.3 million, bringing the once-dominant country down to a third-place, 15.55 percent market share after a 41.88 percent decline over the 12 months. Imports from China have been in a long-term downward spiral since the trade war with the U.S. brought on significant tariffs and uncertainty, and caused many companies to shift production out of the … [Read more...]
Is Nearshoring the Future of the American Supply Chain?
Angela Velasquez reports for Sourcing Journal that the combination of coronavirus and the Trump administration's USMCA could lead to greater "nearshoring," a term describing supply-chain sourcing from nearby countries, with Mexico. She writes: Though the denim industry faces unprecedented challenges, executives from leading Mexico-based mills are planning for a brighter future. As denim mills in the country prepare to reopen on June 1, Tricia Carey, Lenzing’s director of global business development for denim, gathered players from Cone Denim, Global Denim, Kaltex and Tavex for a virtual … [Read more...]
Happy Memorial Day!
Walmart Sales Soar as Americans Stock Up
As shutdown orders have closed other retailers without grocery stores attached, Walmart has been the only place open to many would-be shoppers. Walmart's sales have surged during the coronavirus shutdown. Sarah Nassauer writes in The Wall Street Journal: Walmart Inc. WMT +0.54% is reaping the rewards of being one of few retailers positioned to successfully navigate a global pandemic, reporting a surge in quarterly sales as consumers turned to its giant stores to stock up on food and household goods. The country’s largest retailer said U.S. comparable sales, those from stores and digital … [Read more...]
Coronavirus is Amazon’s Cleanup Crew
After Amazon set about decimating retail competitors across America, coronavirus has come along and helped it finish the job. Suzanne Kapner and Sarah Nassauer report in The Wall Street Journal: Amazon. AMZN 0.68% com hurt many retailers. Coronavirus will finish some of them off. Even as malls and stores begin to reopen, the Covid-19 pandemic has taken a toll on an industry already battered by the shift to online shopping. More than two million retail jobs disappeared in April as many stores closed. The damage will be clear Friday when the U.S. government reports what is expected to be one … [Read more...]
Here Comes the Milkman
Customers eager for delivered products are driving a resurgence in a long-dying business, milk delivery. Rachel Feintzeig reports for the Wall Street Journal: The glass bottles are gone. The cream-topped milk of yore has been replaced by oat milk, almond milk and even a Snickers-flavored drink. But the milkman is back, summoned by customers eager for home delivery in a world changed by pandemic. At Wade’s Dairy in Bridgeport, Conn., the novel coronavirus has turned demand on its head and opened the door to a new—old—business idea. Wade’s had previously spent a century offering home … [Read more...]
Investors Flock to Chinese Distribution Facilities
The Nikkei Asian Review's Taizo Wada reports that investors are putting money into Chinese logistical real estate, writing: As China shakes off the economic impact of the coronavirus outbreak, investors have flocked to funds focused on logistics facilities there and elsewhere in Asia, anticipating that growth in e-commerce will drive strong demand even after the pandemic. Singapore-based GLP last month closed a $2.1 billion fund with a portfolio of 34 properties across 18 Chinese cities. Participants include seven Chinese institutional investors, six of which are new clients of the … [Read more...]