President Joe Biden’s $2.3 trillion infrastructure plan calls for investments in industries such as electric vehicles and semiconductors. Critics say the plan gives the government too much involvement in decisions better made by the private sector.
The e-commerce giant said Monday that it blocked more than 10 billion suspected phony listings last year before any of their offerings could be sold.
Calumet said Winter Storm Uri, which brought snow and record cold across the U.S. in February, hurt production at the company’s Gulf Coast refineries during the quarter. The first-quarter losses push the company’s total losses since 2014 above $1 billion.
The company said it was able to divert precious computer chips to higher-profit models such as full-size pickup trucks and SUVs, and that brought the higher income.
April was the 11th consecutive month manufacturing has grown after contracting in April 2020, when the country was struggling to deal with the shutdowns caused by a global pandemic.
The scarcity of chips could cloud some of the pandemic recovery if it continues to hamper manufacturing in the coming months.
Plastic, paper, sugar, grain and other commodities are all getting more expensive as demand outpaces supply. Companies are also paying more for shipping as fuel costs rise and ports experience longer delays because of congestion.
The Indianapolis-based manufacturer said it expects 2021 net sales to range from $2.33 billion to $2.48 billion. That’s an improvement from the guidance the company issued in February.
Analysts said Monday’s durable goods report “reveals significant volatility” in certain industries due to the supply chain troubles, which have been particularly acute in the delivery of computer chips.
From safety concerns to productivity and data security, there are many reasons why companies may limit employee access to cell phones. Some FedEx employees said the company’s no-phone policy delayed contact with loved ones after the mass shooting on April 15.
Foxconn originally proposed a 20 million-square-foot manufacturing campus that would have been the largest investment in U.S. history for a new location by a foreign-based company, but those plans have been downsized significantly.
The stalling recall covers Crosstrek SUVs from 2018 and 2019 and Impreza cars from 2017 through 2019. The suspension recall covers 2018 and 2019 Crosstreks and 2019 Foresters.
The shutdowns likely will crimp dealer inventory of vehicles made at the plants, but GM says it has managed to keep factories humming that make hot-selling and very profitable full-size pickup trucks and SUVs.
Biofuels producers and some of their supporters in Congress say now is the time to increase sales of ethanol and biodiesel, not abandon them.
All but one of 18 manufacturing industries reported growth in March, led by textiles, electrical equipment and appliances, machinery and computers and electronic products.
The ambitious plan, to be unveiled Wednesday, is expected to devote hundreds of billions of dollars to infrastructure, home care for the elderly and the disabled, efforts to revive manufacturing, and bolstering the nation’s electric grid, broadband access and water systems.
Volkswagen plans to change its brand name in the United States as its shifts its production increasingly toward electric vehicles and tries to distance itself from an emissions cheating scandal.
Consultant AlixPartners has said the global chip shortage could cost automakers $61 billion in lost sales this year. The recent setbacks could further delay an expected second-quarter recovery in output.
The size of the drop surprised economists, although it is likely that there was significant disruption from severe winter storms that hit much of the country last month, on top of ongoing supply-chain problems.
Automakers have said they don’t expect the chip shortage to get any better before the third quarter of the year, potentially costing them billions of dollars in revenue.
