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Home » Archives by category » World News » Global Economy
Chip shortage expected to cost auto industry $110 billion in revenue in 2021
CNBC, Released on 5/14/21 “The pandemic-induced chip crisis has been exacerbated by events that are normally just bumps in the road for the auto industry, such as a fire in…
UPDATE: Colonial Pipeline Paid Hackers Nearly $5 Million in Crypto Ransom Immediately After Attack
Yahoo Finance, Released on 5/12/21 Despite earlier reports claiming otherwise, Colonial Pipeline Co. paid nearly $5 million to Eastern European hackers on Friday, contradicting reports earlier this week Continue……
Colonial Pipeline restarts after hack, but supply chain won’t return to normal for a few days
CNBC, Released on 5/12/21 “Some markets served by Colonial Pipeline may experience, or continue to experience, intermittent service interruptions during the start-up period. Colonial will move as much gasoline, diesel,…
More than 1,000 gas stations run out of fuel (so far)
Fox 5 NY, Released on 5/11/21 “We’re looking at every option we have across the federal government and all of the federal agencies,” Granholm said. Continue……
More Than 300 Manufacturers Just Asked Biden To Repeal Trump’s Steel Tariffs as Prices Skyrocket
Reason, Released on 5/7/21 Trump imposed huge tariffs on imported steel and Biden is keeping them in place even as American businesses beg for relief. Continue……
Cyberattack Forces Shutdown Of Largest Gasoline Pipeline In United States
Zero Hedge, Released on 5/8/21 The largest gasoline pipeline on the East Coast, and the US in general, was shut down on Friday after its operator struggled to contain a…
Steel prices have tripled since last year
CNN Business (via MSN), Released on 5/6/21 If the Biden administration rolls back even just some of Trump’s steel tariffs, it could help ease supply constraints and weigh on steel…
Copper soars to an all-time high
The Edge Markets, Released on 5/7/21 “The copper market as it currently stands is not prepared for this demand environment.” The “combination of surging demand and sticky supply has reinforced…
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