Bloomberg reports that metals whipsawed as sanctions on new Russian supplies rattled the LME. They write: Metals swung sharply, with aluminum surging by a record before later erasing most of its gains, as traders digest US and UK sanctions that banned delivery of new Russian supplies onto the London Metal Exchange. The curbs on aluminum, nickel and copper announced late Friday don’t prevent Russia from selling its metals to buyers outside the US or UK, and don’t restrict the vast majority of the global trade in metals — which takes place directly between miners, traders and manufacturers … [Read more...]
America’s Pandemic-Driven Warehouse Boom is Losing Steam
Liz Young of The Wall Street Journal tells her readers that average leasing rates across the U.S. have flattened out, with deals to be had. She writes: Taylor Wood says bargaining with warehouse owners for storage space is far different than during the pandemic, when demand for industrial space was red hot. “I’ve never seen a market like that, where we were basically scratching and clawing for every building,” said Wood, a broker at real estate services firm Savills. “There were five offers on every building.” Now, Wood sees signs rents are flattening nationwide and even ticking … [Read more...]
Inflation Hotter than Expected in March
Sam Goldfarb and Nick Timiraos of The Wall Street Journal report that consumer prices rose 3.5% in March, and underlying price pressures remained strong. They write: Stubborn inflation pressures persisted in March, derailing the case for the Federal Reserve to begin reducing interest rates in June and raising questions over whether it can deliver cuts this year without signs of an economic slowdown. The consumer-price index, a measure of goods and services prices across the economy, rose 3.5% in March from a year earlier, the Labor Department said Wednesday. That was a touch higher than … [Read more...]
The Buck Stops Here – Dollar Store Closings
Warren Shoulberg of The Robin Report reports that despite inflation, the dwindling middle class is not necessarily trading down to dollar stores the way they used to. He writes: Let’s play a little Dialing for Dollars; the big picture is about Dollar Tree closing. Today’s question is: Why did Dollar Tree decide to close 1,000 of its Family Dollar and Dollar Tree locations? It may be a trick question and the answer is rather complicated. See if you can get the right one: It is the fallout from a deal almost ten years ago that Dollar Tree thought it won…but turned out to have lost … [Read more...]
Is Amazon Fueling an AI Revolution?
Emily Bary of MarketWatch reports that Amazon’s ‘building blocks’ and cost-effective AI chips are among its strengths, according to the company's CEO, Andy Jassy, in Amazon's annual shareholder letter. Bary writes: It’s no surprise that artificial intelligence got a prominent mention in Amazon Chief Executive Andy Jassy’s lengthy annual shareholder letter that came out Thursday morning. In it, Jassy called out the ways the company’s Amazon Web Services cloud-computing busin ess is helping to fuel the AI revolution, specifically around generative AI — the technology popularized by … [Read more...]
China Is Flooding the World With Cheap Goods
Jason Douglas and Dave Sebastian of The Wall Street Journal report that emerging economies are joining U.S. and Europe in shielding domestic manufacturers from a rising tide of Chinese imports. They write: To revive its economic fortunes, China is flooding the world with cheap goods, a multitrillion-dollar sequel to the China shock that hit global manufacturing more than two decades ago. This time around, the world is fighting back. The U.S. and European Union are threatening to raise trade barriers to Chinese-made electric vehicles and renewable-energy gear. Now, emerging economies … [Read more...]
Who Owns Your Digital Remains after You Die?
Shawn Wen of Bloomberg reports on Swedish academic Carl Öhman's argument that tech companies have no incentive to be responsible caretakers of our posthumous digital footprint. Wen writes: In 2012 a 15-year-old girl died in Berlin after being hit by a subway train. Her bereaved parents asked Facebook to turn over her private messages in hopes of understanding whether her death was a suicide or an accident. Facebook refused. Her death had already been reported to the social media site, which then converted her profile to a “memorialized account.” According to the company’s policy at the … [Read more...]
The Future of AI in Retail
The Robin Report's Shelley Cohan and Robin Lewis interview Greg Petro, CEO of First Insight on the Retail Unwrapped podcast, and Ramona Dunlap a professor at FIT Business Management, to discuss artificial intelligence (AI) and its effects on the retail industry. Watch: … [Read more...]
Red Sea Shipping Problems Causing Boost in Airfreight
Paul Berger of The Wall Street Journal is reporting that air transport is rising at a double-digit pace as companies look to fly goods around the disrupted ocean trade corridor. Berger writes: Retailers and manufacturers are flying more goods around the shipping crisis in the Red Sea, industry experts say, helping boost international airfreight operators after a long period of sagging cargo volumes. The strategy, the latest sign of how companies are adjusting their supply chains in response to geopolitical shock waves and disruptions, comes as European importers are seeking to avoid delays … [Read more...]
Oil Could Hit $100 a Barrel
Lucia Kassai, Sharon Cho, Devika Krishna Kumar, and Alex Longley of Bloomberg tell their readers how global supply shocks are intensifying fears of a commodity-driven inflation resurgence. They write: When oil jumped above $90 a barrel just days ago, military tensions between Israel and Iran were the immediate trigger. But the rally’s foundations went deeper — to global supply shocks that are intensifying fears of a commodity-driven inflation resurgence. A recent move by Mexico to slash its crude exports is compounding a global squeeze, prompting refiners in the US — the world’s biggest … [Read more...]
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