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☆ Baltimore port bridge collapse: Global ocean carriers declare 'force majeure,' leaving U.S. companies on hook for urgent cargo pickup
▼ + stars: | 2024-03-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

"The impact of the Baltimore port stoppage on construction and contractor supply chains may be significant," said William George, director of research for ImportGenius. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. COSCO announced Wednesday morning that its services would "be concluded" once the diverted container arrives at the alternate port. Out of the diverted ports, New York/New Jersey and Savannah, are included. One of the biggest concerns among logistics companies is availability of chassis for both truck and rail to handle the diverted cargo.

Persons: Dali, Francis Scott Key, William George, ImportGenius, Maersk, COSCO, majeure, CGM, Paul Brashier, Brashier, Matt Castle, Robinson, Val Noel, Mike Wilson, Noel, Alan Baer, Baer, Stephen Edwards, Edwards Organizations: Francis Scott Key Bridge, Logistics, CNBC, Baltimore, Evergreen, CMA, ITS Logistics, U.S Department of Transportation, Home Depot, Nike, Walmart, Union Pacific, BNSF, Robinson, DHL, FedEx, Port, DOT's, Rail, TRAC, Freight, Consolidated Chassis Management, USA, Norfolk . Our Midwest Locations: Baltimore , Maryland, Baltimore, The Port, U.S, Port of Baltimore, Target, East, , New York, New Jersey, Savannah, Chicago, Brunswick, Virginia, Charleston, New York, Philadelphia, Norfolk, Wilmington , Savannah, Jacksonville, UAE, Saudi, Doha, India, Bangladesh, NY, Montreal, Port of Virginia, Port

☆ Electrolux swings to loss as shoppers shift to cheaper appliances
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Interiors of Electrolux R&D facility are pictured at their plant in Pordenone, Italy, March 27, 2019. REUTERS/ Giulio PiovaccariSTOCKHOLM, July 20 (Reuters) - Electrolux (ELUXb.ST), Europe's biggest home appliances maker, swung to a loss in the second quarter as cash-strapped shoppers opted for cheaper products and demand from residential property builders slowed. The Swedish group said organic sales fell 8% as sales volumes shrank significantly due to continued weak demand. "Lower residential construction and remodeling activity caused significantly weaker demand within the built-in kitchen category, mainly impacting us in Europe," he said. It reported a second-quarter operating loss of 124 million crowns ($12.1 million) against a year-earlier profit of 560 million.

Persons: Giulio Piovaccari STOCKHOLM, Jonas Samuelson, Electrolux, Anna Ringstrom, Louise Breusch Rasmussen, David Evans Organizations: REUTERS, Europe's, Thomson Locations: Pordenone, Italy, Swedish, Europe

☆ Tesla, ABB, TSMC get Q2 earnings off to downbeat start
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +4 min

The news cast a pall over stocks as second-quarter earnings season ramps up. ABB said its orders in China, its second-biggest market, fell 9% in the three months to the end of June, with its electrification, motion and robotics divisions all seeing lower demand. Analysts have warned easing input costs will put pressure on companies to start cutting prices, or they may lose business. Swedish hygiene product maker Essity's (ESSITYa.ST) second-quarter earnings missed market expectations, hit by wage inflation, bigger marketing costs in its consumer goods unit, and lower volumes after price hikes. Investors punished the companies' shares.

Persons: TSMC, Elon Musk, Aly, Musk, Electrolux, Josephine Mason, Sharon Singleton Organizations: ABB, LONDON, Nasdaq, Shanghai, REUTERS, Europe's, Investors, Netflix, Revenue, Reuters, Thomson Locations: China, Germany, Shanghai, Europe, lockdowns, United States

☆ European earnings add weight to economic bear case
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 20 (Reuters Breakingviews) - It’s only early in the financial-reporting season for European companies. But macro bears will already be able to find all the doom and gloom they could ever want. But pricey recipe kits and premium toilet paper are relatively easy ways for pinched consumers to save money. Before the results, all three companies were priced at a premium to the STOXX Europe 600 Index (.STOXX) using 12-month forward price to earnings multiples, suggesting possible shareholder complacency. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: napping, Liam Proud, whir, Neil Unmack, Oliver Taslic Organizations: Reuters, Twitter, Thomson Locations: Europe

☆ China’s Midea regains outbound deal appetite
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, May 2 (Reuters Breakingviews) - Midea (000333.SZ), a $58 billion Chinese white goods champion, made waves in Europe in 2016 when it bought German robot maker Kuka for nearly $5 billion. Seven years later, the company is eyeing Sweden’s home appliance brand Electrolux (ELUXb.ST), a complementary asset currently worth around $7 billion including debt. A successful tilt could mark the beginning of a revival in outbound M&A by Chinese firms after offshore deals touched a historic low of $29 billion in 2022, per EY estimates. To close the Kuka acquisition, Midea offered a 36% price premium and generous guarantees including leaving management in place until 2023. Nevertheless, it seems likely that more cash-rich Chinese companies like Midea, seeking to hedge weak domestic demand with overseas customers, will gingerly test cross-border M&A markets this year.

☆ 23 major brands suspected of illegally sourcing products made by forced labor in China
▼ + stars: | 2022-12-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

And more ...Mary Meisenzahl/InsiderThese companies have also been suspected of having direct or indirect ties to Chinese forced labor in the aforementioned reports. Bosch"Bosch is committed to ensuring that its products are not produced wholly or in part by forced labor. "Compliance with human rights, labor rights and environmental standards is a top priority at PUMA and has been specified in our Codes of Conduct for over 20 years." As stated in our Business Conduct Guidelines, we reject all forms of oppression, forced labor and participation in human rights violations. We will continue to respect human rights and take a strong stand against forced labor."

☆ Electrolux expects further demand decline as slips to loss
▼ + stars: | 2022-10-28 | by ( Anna Ringstrom | ) www.reuters.com time to read: +2 min

"Market demand in both Europe and North America for the full-year of 2023 is expected to further deteriorate, i.e. Electrolux (ELUXb.ST) in September warned profit would drop as high inflation and low consumer confidence squeezed demand and large investments in North America had yet to pay off. Samuelson told analysts and media in a call that the group had massive inefficiencies in supply chain and production in North America in the quarter. Samuelson said most of the charge related to trimming staff at Electrolux, which had 52,000 employees at the end of 2021. The North America division reported a loss of 1.2 billion crowns.

☆ Factbox: Companies sell their businesses in Russia
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +9 min

The logo of French tyre maker Michelin is seen at a company building in Boulogne-Billancourt, near Paris, France, August 6, 2022. REUTERS/Sarah Meyssonnier/File PhotoOct 10 (Reuters) - Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they seek to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. Below is a list of firms by sector that have sold their businesses in Russia:AUTOS** British car distributor Inchcape (INCH.L) sold its Russian business to local managementRegister now for FREE unlimited access to Reuters.com Register** Italian truck and bus maker Iveco (IVG.MI) transferred its 33% stake in its AMT truck assembly joint venture in Russia to a local partner** French tyre maker Michelin (MICP.PA) intends to transfer its activities in Russia to a new entity under local management by end-2022** French carmaker Renault (RENA.PA) sold its majority stake in Avtovaz (AVAZI_p.MM) to a Russian science institute, and transferred all shares in Renault Russia to the city of Moscow** MAN Truck & Bus and Scania, units of German truck maker Traton (8TRA.DE), expect to sell their sales companies in Russia to local partners along with Scania's Russian financing business by Q1 2023BANKS** Britain's HSBC (HSBA.L) agreed to sell its Russian business to Expobank, subject to regulatory approvals in Russia** Czech investment group PPF sold its Russian banking assets, including consumer lender HCFB and its subsidiaries, to investors led by Ivan Tyryshkin** France's Societe Generale (SOGN.PA) sold its Russian business Rosbank (ROSB.MM) to Interros Capital, a firm linked to Russian oligarch Vladimir PotaninCONSUMER ELECTRONICS** Swedish home appliance maker Electrolux (ELUXb.ST) transferred its business in Russia to local management** Its Electrolux Professional (EPROb.ST) branch also sold its Russian business to local management** Whirlpool (WHR.N) sold its Russian operations to Turkey's Arcelik (ARCLK.IS)ELECTRICAL COMPONENTS & EQUIPMENT** Finland's Boreo (BOREO.HE) sold its 90% stake in YE Russia to companies controlled by its current director Yrjö Pönni** U.S. industrial firm Emerson Electric (EMR.N) agreed to sell its Russia business to the local management** Finnish elevator maker Kone (KNEBV.HE) expects to close the sale of its Russian business to local management in Q4 2022** France's Schneider Electric (SCHN.PA) expects to close the sale its Russian unit to local management by end-2022** U.S. elevator maker Otis (OTIS.N) sold its Russia business to local investment firm Ice DevelopmentENERGY** French industrial gases producer Air Liquide (AIRP.PA) agreed to shift its Russian assets to local management, subject to regulatory approvals in Russia** Baker Hughes (BKR.O) agreed to sell its oilfield services business in Russia to local management, with closing expected in H2 2022** Italian utility Enel (ENEI.MI) sold its 56.43% stake in Enel Russia to Lukoil (LKOH.MM) and private fund Gazprombank-Frezia** Norway's Equinor (EQNR.OL) transferred assets of its Russian oil and gas joint ventures to state-owned partner Rosneft (ROSN.MM), and its 30% stake in the Arctic Kharyaga oilfield to state-controlled Russian operator Zarubezhneft** U.S. oilfield services firm Halliburton (HAL.N) sold its Russia operations to a management team made up of former employees** Oil major Shell (SHEL.L) sold its Russian retail and lubricants business to Lukoil** Singapore-based commodities trader Trafigura sold its 10% stake in Vostok Oil project in Siberia to Hong Kong-registered trading firm Nord Axis** Total Energies (TTEF.PA) sold its remaining 20% interest in the Kharyaga oil project to Zarubezhneft, and its 49% stake in Terneftegaz to joint venture partner NovatekFOOD & BEVERAGES** Finland's Atria (ATRAV.HE) sold its fast food business in Russia, Sibylla Rus, to Russian meat producer Cherkizovo (GCHE.MM)** Finland's Fazer sold its Russian unit to Moscow's Kolomenskij Bakery and Confectionery Holding** Irish ingredients giant Kerry Group (KYGa.I) sold its Russian subsidiary to local management and agreed to offload its Belarusian unit to a local operator** Fast food chain McDonald's (MCD.N) sold its Russian business to its licensee Alexander Govor** Finnish food and drinks company Paulig sold its operations in Russia to private Indian investor Vikas Soi** Yum Brands (YUM.N) sold its Pizza Hut business in Russia to a local operator** Finnish food processing firm Raisio (RAIVV.HE) sold its consumer business in Russia to Copacker Agro** Finnish dairy producer Valio sold its Russian business to GK VelkomINDUSTRIAL MACHINERY** Polish measuring devices maker Apator's (APTP.WA) Powogaz unit divested its entire stake in Russia-based AO Teplovodomer** Danish industrial firm Danfoss agreed to sell its Russian and Belarusian business to local management, subject to approval by shareholders and regulatory approvals in Russi

☆ Does FedEx's bleak outlook flash a warning signal for investors? Here's what the pros say
▼ + stars: | 2022-09-21 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

FedEx 's bleak preliminary earnings and outlook sent shockwaves through the market and stocks lower during last Friday's trade. And the World Trade Organization similarly painted a grim picture, with an August report pointing to "stagnating global trade growth." It's one of those tea leaves you can take when you look at the global economy. Investors are not entirely sure which way the global economy, inflation and growth are going. "Investors are not entirely sure which way the global economy, inflation and growth are going.

☆ The future of fashion is in everyone's hands
▼ + stars: | 2022-09-20 | by ( Sponsor Post | Created Insider Studios With Electrolux | ) www.businessinsider.com time to read: +9 min

And while many global economies and industries are still in recovery, it could be said that fashion — and sustainable fashion — is not only recovering but in the midst of a revolution. Power to the consumer: Environmental solutions within reachElectroluxWhat if the future of sustainable fashion is already within reach – literally? Butani said that small changes to our behaviours and "breaking the pattern" of legacy habits holds the key to making more sustainable fashion choices. Which is why Electrolux's partnership with Rave Review, an upcycling fashion house, is so relevant. If you would like to discover more about sustainable fashion practices and how Electrolux is shaping the future of garment care, please visit our website

☆ Meet 16 top reverse-logistics leaders tackling retail's $761 billion e-commerce returns problem
▼ + stars: | 2022-07-15 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +19 min

Becca Meinz, the vice president of end-to-end supply chain at Best BuyBecca Meinz is the vice president of the end-to-end supply chain for Best Buy. Steve Lewis, the senior vice president of commercial strategy at GXOSteve Lewis is the senior vice president for commercial strategy at GXO. Kraig Foreman, the president of e-commerce at DHL Supply Chain North AmericaKraig Foreman is the president of e-commerce at DHL Supply Chain North America. Eduardo Vilar, the senior vice president of merchant solutions at AffirmEduardo Vilar is the senior vice president of merchant solutions at Affirm. Glen Sutton, the executive vice president at Ceva LogisticsGlen Sutton is an the executive vice president at Ceva Logistics.

Suedia îți oferă tot ce e mai bun pentru familie și o stabilitate economică pe viațăEste cunoscut faptul că țările scandinave sunt unele dintre cele mai prospere și dezvoltate din lume. Calitatea și durata vieții în această țară scandinavă par a fi factori-cheie în luarea deciziei de a imigra aici și de a obține cetățenia țării. Stabilitatea economicăSuedia este a 24-a cea mai bogată țară și a 21-a cea mai liberă economie din lume. După criza mondială din 2008, guvernul suedez a implementat o serie de măsuri economice pentru a îmbunătăți viața cetățenilor. Astfel, în Suedia a căpătat popularitate snus-ul – o punguță umedă cu tutun care se plasează între buză și gingii timp de aproximativ 30 de minute.

Persons: Canabisul Organizations: Volvo, IKEA, Sony Ericsson, Uniunii Europene Locations: Suedia, Moldova, Europa de Nord, Baltice, Stockholm, Suediei, Scania, fumătorilor, Europa, Norvegia, Danemarca, Estonia, Ungaria

☆ Maximum: Выходные в два раза лучше Ⓟ
▼ + stars: | 2020-10-13 | by ( ) point.md time to read: +1 min

Только с 13 по 15 ноября скидки в 2 раза больше, а рассрочка — в 2 раза дольше. На протяжении 3 дней все обладатели дисконтных карт Maximum смогут купить технику с двойной скидкой, а также получить к ней дополнительный подарок. К примеру, вы можете остановить свой выбор на встраиваемой посудомоечной машине Hansa, приобрести ее со скидкой 10% и получить в подарок средства Finish — таблетки и специальную соль. А если вы давно мечтали о встраиваемой газовой поверхности Hansa, то в эти дни вы сможете получить к ней в подарок мобильную сушку для посуды Minky. Приобрести любую технику со скидкой вы можете в нашем интернет-магазине.

Organizations: Hansa, LG, Kenwood, Рекомендации / Распродажа Locations: Minky, —, Молдова

☆ Maximum: Грандиозное открытие нового магазина на Рышкановке. Скидки до 50% Ⓟ
▼ + stars: | 2020-10-06 | by ( ) point.md time to read: +3 min

В пятницу, 6 ноября, состоится открытие самого большого магазина Maximum на Рышкановке. 5 причин посетить новый магазин Maximum— Лучший выбор качественной техникиВ магазинах Maximum представлено более 10000 наименований товаров. — Честные скидкиТолько с 6 по 8 ноября вы сможете приобрести электронику, бытовую технику и гаджеты по самой низкой рыночной стоимости! Помимо этого, при покупке любого товара от 300 леев, вы получите гарантированный подарок — дисконтную карту, которая позволяет экономить до 10%! — Удобное расположениеНовый магазин Maximum находится в центре Рышкановки — прямо напротив Афганского парка.

Persons: Moulinex, Dyson, Sharp, Philips HP8230 Braun, Philips, QLED NanoCell Organizations: Samsung, LG, Sony, Panasonic, Philips, Bosch, Whirlpool, Hansa, JBL, Braun, AEG, Electrolux, —, Рекомендации / Распродажа Locations: Gorenje, Tefal, Kenwood, —, Рышкановке, Рышкановки, Афганский парк, Кишинев, Рышкановка, Московский проспект

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