Asia markets rise as shares of Apple suppliers jump

Markets in Asia continued to be in positive territory on Friday following the easing of U.S.-Iran tensions, and after U.S. stocks shot to new highs overnight. On the earnings front, Japan’s Familymart, the country’s second-largest convenience store chain, is set to report third quarter results on Friday. Meanwhile, Australia’s retail sales data for November is set to be released on Friday. Apple suppliers in Asia were closely monitored after the tech giant’s shares jumped 2.1% to a record high.


Markets in Asia continued to be in positive territory on Friday following the easing of U.S.-Iran tensions, and after U.S. stocks shot to new highs overnight.
On the earnings front, Japan’s Familymart, the country’s second-largest convenience store chain, is set to report third quarter results on Friday.
Meanwhile, Australia’s retail sales data for November is set to be released on Friday.
Apple suppliers in Asia were closely monitored after the tech giant’s shares jumped 2.1% to a record high.

Asia markets rise as shares of Apple suppliers jump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: weizhen tan
Keywords: news, cnbc, companies, rise, jumped, trade, suppliers, sales, south, nearly, markets, results, rose, retail, asia, jump, shares, japan, set, apple


Asia markets rise as shares of Apple suppliers jump

Markets in Asia continued to be in positive territory on Friday following the easing of U.S.-Iran tensions, and after U.S. stocks shot to new highs overnight.

In Japan, the Nikkei 225 rose 0.41%, while the Topix was up 0.39%.

On the earnings front, Japan’s Familymart, the country’s second-largest convenience store chain, is set to report third quarter results on Friday. A day before, retail giant Fast Retailing cut its full-year outlook after worse-than-expected quarterly results, which it pinned on protests in Hong Kong and a boycott by South Korean consumers which hit sales at its Uniqlo retail stores.

Over in South Korea, the Kospi climbed to nearly 0.47%.

Australia’s S&P/ASX 200 rose 0.69% in early trade. Gold miners, however, sold off. Losses were led by Evolution Mining, which fell as much as 5% in early trade. Newcrest Mining was down 1.47%, while Kingsgate Consolidated was off by 2.22%.

The rally in gold prices had pulled back following the declining risk of a wider war in the Middle East.

Meanwhile, Australia’s retail sales data for November is set to be released on Friday.

Apple suppliers in Asia were closely monitored after the tech giant’s shares jumped 2.1% to a record high. That was on the back of news that iPhone sales in China rose more than 18% in December, according to Chinese government data.

Suppliers in Japan and South Korea jumped in the morning. In Japan, Sharp surged nearly 2%, and Japan Display jumped 1.28%. Murata was up 0.95%. South Korea’s LG Display was up 0.32%. Samsung Electronics jumped 1.71%.


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: weizhen tan
Keywords: news, cnbc, companies, rise, jumped, trade, suppliers, sales, south, nearly, markets, results, rose, retail, asia, jump, shares, japan, set, apple


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Boeing to suppliers: No 737 Max parts for a month as crisis prompts production halt

Boeing said Monday that it told suppliers to halt shipments of 737 Max parts for a month starting in January, providing new visibility into how the worldwide grounding of the bestselling plane continues to ripple through the supply chain. Boeing last week said the protracted crisis has forced it to temporarily shut down production of the 737 Max, starting next month. “We are working with them to manage risk, address hardships, and ensure their ability to support seamless production resumption.”


Boeing said Monday that it told suppliers to halt shipments of 737 Max parts for a month starting in January, providing new visibility into how the worldwide grounding of the bestselling plane continues to ripple through the supply chain.
Boeing last week said the protracted crisis has forced it to temporarily shut down production of the 737 Max, starting next month.
“We are working with them to manage risk, address hardships, and ensure their ability to support seamless production resumption.”

Boeing to suppliers: No 737 Max parts for a month as crisis prompts production halt Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-23  Authors: leslie josephs
Keywords: news, cnbc, companies, halt, prompts, parts, makes, company, month, support, max, crisis, 737, working, suppliers, production, starting, boeing


Boeing to suppliers: No 737 Max parts for a month as crisis prompts production halt

Boeing said Monday that it told suppliers to halt shipments of 737 Max parts for a month starting in January, providing new visibility into how the worldwide grounding of the bestselling plane continues to ripple through the supply chain.

The announcement came just hours after news that Boeing ousted its former CEO Dennis Muilenburg as the company struggles to regain the trust of regulators, airline customers and the flying public in the wake of two fatal crashes in a span of five months that killed 346 people.

Boeing last week said the protracted crisis has forced it to temporarily shut down production of the 737 Max, starting next month. Regulators have repeatedly said they have no firm timeline to allow the planes to fly again.

“We realize this poses challenges for some suppliers and we appreciate their partnership and support during this time,” a Boeing spokesperson said in a statement. “We are working with them to manage risk, address hardships, and ensure their ability to support seamless production resumption.”

Spirit Aerosystems, the Wichita, Kansas-based company that makes fuselages for the Boeing 737 Max, on Friday announced it would suspend production of parts for the Max starting Jan. 1. Revenue from the 737 program accounts for more than half of Spirit’s annual sales, and the manufacturer warned investors that the halt would hurt the company’s results.

General Electric, which makes engines for the 737 Max in a joint venture with France’s Safran, had said it was working with customers and suppliers “while protecting the company’s ability to accelerate production as needed in the future.”

The company also makes some engines for Airbus, Boeing’s main rival, where demand for fuel-efficient planes had also been on the rise.


Company: cnbc, Activity: cnbc, Date: 2019-12-23  Authors: leslie josephs
Keywords: news, cnbc, companies, halt, prompts, parts, makes, company, month, support, max, crisis, 737, working, suppliers, production, starting, boeing


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Boeing will still burn $1 billion a month on 737 Max even with production halt, JP Morgan says

Employees work on Boeing 737 MAX airplanes at the Boeing Renton Factory in Renton, Washington on March 27, 2019. Boeing will still burn more than $1 billion a month even after halting 737 Max production, according to J.P. Morgan. Further, the planemaker is expected to support its suppliers until the 737 Max is cleared for flight, a key expense it must endure to maintain future production capability. “We estimate that Boeing is burning nearly $2 bn per month on the MAX but this will not drop to z


Employees work on Boeing 737 MAX airplanes at the Boeing Renton Factory in Renton, Washington on March 27, 2019.
Boeing will still burn more than $1 billion a month even after halting 737 Max production, according to J.P. Morgan.
Further, the planemaker is expected to support its suppliers until the 737 Max is cleared for flight, a key expense it must endure to maintain future production capability.
“We estimate that Boeing is burning nearly $2 bn per month on the MAX but this will not drop to z
Boeing will still burn $1 billion a month on 737 Max even with production halt, JP Morgan says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-17  Authors: thomas franck
Keywords: news, cnbc, companies, month, 737, support, suppliers, production, max, billion, morgan, boeing, halt, burn, labor, seifman, wrote


Boeing will still burn $1 billion a month on 737 Max even with production halt, JP Morgan says

Employees work on Boeing 737 MAX airplanes at the Boeing Renton Factory in Renton, Washington on March 27, 2019.

Boeing will still burn more than $1 billion a month even after halting 737 Max production, according to J.P. Morgan.

Boeing’s decision to stop suspend production of the troubled aircraft was made in light of months of cash-draining groundings worldwide, but the company’s internal overhead and labor expenses will remain and will increase cash burn, analyst Seth Seifman wrote to clients.

For one, wrote Seifman, Boeing’s internal overhead and labor costs won’t be going anywhere. Further, the planemaker is expected to support its suppliers until the 737 Max is cleared for flight, a key expense it must endure to maintain future production capability.

“We estimate that Boeing is burning nearly $2 bn per month on the MAX but this will not drop to zero during the halt,” the J.P. Morgan analyst wrote. “We expect Boeing to support suppliers, which comprise ~65% of the 737 cost base, in order to preserve labor and production capabilities. For now, we assume ~50% of supply chain costs hang around, resulting in monthly cash burn that is still solidly > $1 bn.”

Boeing shares fell 1.3% in midday trading and headed for a fourth-straight negative day. The stock’s 2019 return briefly turned negative during the session.


Company: cnbc, Activity: cnbc, Date: 2019-12-17  Authors: thomas franck
Keywords: news, cnbc, companies, month, 737, support, suppliers, production, max, billion, morgan, boeing, halt, burn, labor, seifman, wrote


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US weighs new regulations to further restrict Huawei suppliers

The U.S. Commerce Department in May placed Huawei on a trade blacklist, citing national security concerns. Huawei and the Commerce department did not immediately respond to a request for comment. He predicted the actions would upset supply chains but that ultimately Huawei would find other companies to fill the gaps. To sell to a blacklisted company, suppliers subject to U.S. rules generally need to apply for and receive a special license. The new rule considerations come just days after the Com


The U.S. Commerce Department in May placed Huawei on a trade blacklist, citing national security concerns.
Huawei and the Commerce department did not immediately respond to a request for comment.
He predicted the actions would upset supply chains but that ultimately Huawei would find other companies to fill the gaps.
To sell to a blacklisted company, suppliers subject to U.S. rules generally need to apply for and receive a special license.
The new rule considerations come just days after the Com
US weighs new regulations to further restrict Huawei suppliers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-29
Keywords: news, cnbc, companies, restrict, regulations, weighs, company, rule, huawei, department, changes, administration, trade, suppliers, technology, commerce


US weighs new regulations to further restrict Huawei suppliers

Chinese telecom giant Huawei announced on October 16, 2019 that it has passed the 400,000 5G antennas mark, the fifth generation of mobile phones, in the world with 56 operators who have already started to roll out the new mobile network.

The U.S. government may expand its power to stop more foreign shipments of products with U.S. technology to China’s Huawei, amid frustration the company’s blacklisting has failed to cut off supplies to the world’s largest telecoms equipment maker, two sources said.

The U.S. Commerce Department in May placed Huawei on a trade blacklist, citing national security concerns. Putting Huawei on the entity list, as it is known, allowed the U.S. government to restrict sales of U.S.-made goods to the company, and some more limited items made abroad that contain U.S. technology.

But under current regulations, key foreign supply chains remain beyond the reach of U.S. authorities, prompting inter-agency discussions within the administration of President Donald Trump about possible changes to two key rules that could expand U.S. authority to block more foreign shipments to the company, giving more teeth to Huawei’s blacklisting, according to two people familiar with the matter.

The expansion of the rules is being considered even though the Trump Administration last week agreed to grant some reprieves on the existing ban and continues to seek a deal to de-escalate a bitter trade war.

If the Commerce Department makes the proposed rule changes, it will allow U.S. authorities to regulate sales of non-sensitive items, such as standard cell phone chips, made abroad with U.S.-origin technology, software, or components to Huawei, which is the world’s second largest smartphone maker.

Huawei and the Commerce department did not immediately respond to a request for comment.

The changes would represent “a major expansion of the reach of U.S. export controls and would be poorly received by U.S. allies and U.S. companies,” said Washington trade lawyer Doug Jacobson.

He predicted the actions would upset supply chains but that ultimately Huawei would find other companies to fill the gaps.

One rule the Commerce Department and sister agencies are focused on broadening is known as the De minimis Rule, which dictates whether U.S. content in a foreign-made product gives the U.S. government authority to block an export, the people said.

Officials also may expand the so-called Direct Product Rule, which subjects foreign-made goods that are based on U.S. technology or software to U.S. regulations.

It is not clear how close the administration is to making a decision about the changes, nor whether they would be introduced gradually or suddenly. It also was not immediately clear how the rule-making might take place, though sources said the changes would likely affect only Huawei.

Some China hawks within the administration are hoping for swift results, the people said.

In the months after Huawei was added to the entity list, suppliers such as Intel, Xilinx and Micron Technology resumed some shipments to the Chinese company after conducting internal reviews to assess what products were not subject to the ban.

Xilinx Chief Executive Victor Peng, for example, told Reuters in July that the company determined that its older, 28-nanometer chips and some chips not designed for 5G gear could legally could be sold to Huawei without a special license. To sell to a blacklisted company, suppliers subject to U.S. rules generally need to apply for and receive a special license.

Xilinx and the other companies did not explain why they decided they did not fall under the entity list ban.

The new rule considerations come just days after the Commerce Department gave two important wins to the blacklisted company, whose suppliers need special licenses to sell Huawei U.S. manufactured products.

Last week, the agency renewed the so-called temporary general license for Huawei for a third time, extending permission for it to engage in limited transactions to maintain U.S. rural network operators.

And on Wednesday, the Trump administration issued a batch of some 75 licenses to allow some suppliers to restart sales to the company after Huawei was placed on a trade blacklist six months ago.


Company: cnbc, Activity: cnbc, Date: 2019-11-29
Keywords: news, cnbc, companies, restrict, regulations, weighs, company, rule, huawei, department, changes, administration, trade, suppliers, technology, commerce


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The EU says security is not the only concern when it comes to 5G

Aside from security risks, European governments should consider the wider consequences of handing out contracts to 5G suppliers, according to an EU document seen by CNBC and one which could have repercussions for the Chinese firm, Huawei, that is under scrutiny as a potential 5G supplier. 5G is the next generation of mobile internet technology, designed to deliver super-fast data speeds. However, the debate over the providers of 5G technology has become politicized, with officials in the U.S. an


Aside from security risks, European governments should consider the wider consequences of handing out contracts to 5G suppliers, according to an EU document seen by CNBC and one which could have repercussions for the Chinese firm, Huawei, that is under scrutiny as a potential 5G supplier.
5G is the next generation of mobile internet technology, designed to deliver super-fast data speeds.
However, the debate over the providers of 5G technology has become politicized, with officials in the U.S. an
The EU says security is not the only concern when it comes to 5G Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-25  Authors: silvia amaro
Keywords: news, cnbc, companies, comes, concern, suppliers, technology, chinese, security, european, countries, concerns, document, huawei


The EU says security is not the only concern when it comes to 5G

Aside from security risks, European governments should consider the wider consequences of handing out contracts to 5G suppliers, according to an EU document seen by CNBC and one which could have repercussions for the Chinese firm, Huawei, that is under scrutiny as a potential 5G supplier.

“In addition to the technical risks related to cybersecurity of 5G networks, also non-technical factors such as the legal and policy framework to which suppliers may be subject to in third countries, should be considered,” a draft document prepared ahead of a meeting of European ministers and seen by CNBC said.

5G is the next generation of mobile internet technology, designed to deliver super-fast data speeds. However, the debate over the providers of 5G technology has become politicized, with officials in the U.S. and U.K., among other countries, expressing concerns that suppliers like Huawei could pose a security threat.

In the case of Huawei, there are specific concerns about its links to the Chinese government. Huawei has rebuffed those concerns, saying it is independent of the Chinese state and would not allow its technology to be used for any state surveillance, as some experts have suggested could happen.

The same EU document highlighted that European countries should “consider the need to diversify suppliers in order to avoid or limit the creation of a major dependency on a single supplier.”

The draft document, which is set to be agreed on during the first week of December at a meeting of EU ministers, comes as the EU lays the foundations for the implementation of 5G over time.


Company: cnbc, Activity: cnbc, Date: 2019-11-25  Authors: silvia amaro
Keywords: news, cnbc, companies, comes, concern, suppliers, technology, chinese, security, european, countries, concerns, document, huawei


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Dispatch

Dispatch streamlines local deliveries by connecting suppliers, businesses and technicians via nearby couriers who provide same-day service. They own and operate their own fleet of vehicles and manage a network of drivers in real-time through the Dispatch mobile app. The B2B delivery start-up is backed by several funds and investors, including Revolution’s Rise of the Rest Seed Fund.


Dispatch streamlines local deliveries by connecting suppliers, businesses and technicians via nearby couriers who provide same-day service.
They own and operate their own fleet of vehicles and manage a network of drivers in real-time through the Dispatch mobile app.
The B2B delivery start-up is backed by several funds and investors, including Revolution’s Rise of the Rest Seed Fund.
Dispatch Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: cnbccom staff
Keywords: news, cnbc, companies, rise, streamlines, seed, service, startup, suppliers, technicians, vehicles, sameday, dispatch


Dispatch

Dispatch streamlines local deliveries by connecting suppliers, businesses and technicians via nearby couriers who provide same-day service. They own and operate their own fleet of vehicles and manage a network of drivers in real-time through the Dispatch mobile app. The B2B delivery start-up is backed by several funds and investors, including Revolution’s Rise of the Rest Seed Fund.


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: cnbccom staff
Keywords: news, cnbc, companies, rise, streamlines, seed, service, startup, suppliers, technicians, vehicles, sameday, dispatch


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UAW strike cost GM about $3.8 billion for 2019, substantially higher than estimated

DETROIT – A 40-day strike by the United Auto Workers union against General Motors cost the automaker about $3.8 billion for the year and $1 billion for the third quarter, higher than some Wall Street analysts had estimated. The strike lasted from Sept. 16 until Friday, when a majority of the union’s 48,000 members approved a new four-year deal. The cost was higher than some Wall Street estimates that placed it at more than $2 billion in lost vehicle production during the third and fourth quarter


DETROIT – A 40-day strike by the United Auto Workers union against General Motors cost the automaker about $3.8 billion for the year and $1 billion for the third quarter, higher than some Wall Street analysts had estimated.
The strike lasted from Sept. 16 until Friday, when a majority of the union’s 48,000 members approved a new four-year deal.
The cost was higher than some Wall Street estimates that placed it at more than $2 billion in lost vehicle production during the third and fourth quarter
UAW strike cost GM about $3.8 billion for 2019, substantially higher than estimated Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: michael wayland
Keywords: news, cnbc, companies, strike, suppliers, cost, billion, uaw, 2019, higher, million, wall, street, thirdquarter, substantially, earnings, estimated


UAW strike cost GM about $3.8 billion for 2019, substantially higher than estimated

DETROIT – A 40-day strike by the United Auto Workers union against General Motors cost the automaker about $3.8 billion for the year and $1 billion for the third quarter, higher than some Wall Street analysts had estimated.

The strike lasted from Sept. 16 until Friday, when a majority of the union’s 48,000 members approved a new four-year deal. It was the longest national walkout against the automaker since a 67-day strike in 1970.

After accounting for the impact of taxes and interest, the strike shaved $2.9 billion off the company’s bottom line for the year, roughly $700 million of that in the third quarter, and prompted GM to lower its earnings guidance for the year.

The cost was higher than some Wall Street estimates that placed it at more than $2 billion in lost vehicle production during the third and fourth quarters. The high end of estimates pegged it at closer to $100 million in losses per day.

The strike’s impact was far-reaching, causing GM plants in Canada and Mexico to temporarily shutter due to a lack of parts to produce vehicles. It also significantly impacted suppliers of GM, many of whom confirmed temporary layoffs and undisclosed financial losses.

While most of GM’s major suppliers have not reported third-quarter earnings, executives with Lear Corp. on Friday said each week of the strike cost the Southfield, Michigan-based supplier between $50 million and $75 million a week.

Lear, while discussing third-quarter results with analysts, cited the strike as the primary reason for lowering its earnings forecast for the year. The revised forecast included adjusted net income of between $765 million and $845 million, down from between $885 million and $965 million on lower sales of between $19 billion and $19.5 billion, down from $19.8 billion to $20.3 billion.


Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: michael wayland
Keywords: news, cnbc, companies, strike, suppliers, cost, billion, uaw, 2019, higher, million, wall, street, thirdquarter, substantially, earnings, estimated


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Boeing’s 737 Max troubles deepen, taking airlines, suppliers with it

Boeing shares continued their slide Monday after explosive messages last week revealed a top pilot had concerns about a system on the 737 Max that was later implicated in two fatal crashes. That same pilot months later told the FAA to remove the system, known as MCAS, from pilot procedures and training materials. Boeing defended its training materials for the 737 Max, which regulators deemed safe in 2017, and said it told regulators on “multiple occasions” about the broadened capabilities of the


Boeing shares continued their slide Monday after explosive messages last week revealed a top pilot had concerns about a system on the 737 Max that was later implicated in two fatal crashes.
That same pilot months later told the FAA to remove the system, known as MCAS, from pilot procedures and training materials.
Boeing defended its training materials for the 737 Max, which regulators deemed safe in 2017, and said it told regulators on “multiple occasions” about the broadened capabilities of the
Boeing’s 737 Max troubles deepen, taking airlines, suppliers with it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-21  Authors: leslie josephs
Keywords: news, cnbc, companies, max, system, faa, taking, boeings, suppliers, 737, pilot, told, airlines, boeing, regulators, troubles, training, deepen, messages


Boeing's 737 Max troubles deepen, taking airlines, suppliers with it

Boeing shares continued their slide Monday after explosive messages last week revealed a top pilot had concerns about a system on the 737 Max that was later implicated in two fatal crashes.

Several Wall Street analysts downgraded Boeing, fretting about the fallout from the crisis that has barred the manufacturer from delivering its best-selling planes that make up around 40% of its profit.

Boeing’s stock was down 3.8% Monday afternoon, shaving more than 80 points off the Dow Jones Industrial Average, but had pared losses from earlier in the session

The messages made public Friday included an exchange from a top Boeing pilot to a colleague in 2016 that expressed his worries about an aggressive flight control system on the Max, whose performance he called “egregious.” The pilot, who now works for Southwest, said in the exchange that he “unknowingly” lied to regulators. That same pilot months later told the FAA to remove the system, known as MCAS, from pilot procedures and training materials.

The FAA said Boeing knew about the messages for months and scolded Boeing in a letter for not releasing the documents earlier. Boeing defended its training materials for the 737 Max, which regulators deemed safe in 2017, and said it told regulators on “multiple occasions” about the broadened capabilities of the now-questioned system.

UBS on Monday downgraded Boeing to a neutral rating from buy.

“Our working thesis has been that the failures on the 737 Max development by the company centered on fault intolerant design compounded by poor assumptions of pilot response,” it wrote in its downgrade. “We now have to append that assessment further based on source material provided to Congress and the FAA on Friday that reinforces the perception of and heightens the potential of incomplete disclosure, which inherently puts more money/trust & time at stake.”

Boeing’s board is holding a regularly scheduled meeting in San Antonio that concludes Monday, a spokesman said. The board stripped CEO Dennis Muilenburg of his chairmanship on Oct. 11 to focus on getting the Max back into service.

The recent news is putting Muilenburg under even more pressure, however.


Company: cnbc, Activity: cnbc, Date: 2019-10-21  Authors: leslie josephs
Keywords: news, cnbc, companies, max, system, faa, taking, boeings, suppliers, 737, pilot, told, airlines, boeing, regulators, troubles, training, deepen, messages


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How Amazon is making returns more efficient and less wasteful

How Amazon is redefining the expensive and wasteful process of returns8:59 AM ET Sat, 19 Oct 2019Returns take a major toll on retailers’ bottom line and on the planet, but Amazon is taking big steps to change that. Free returns are now offered on almost all Amazon orders, with a new option to bring unboxed items in-person to any Kohl’s store. The majority of returned Amazon items are resold to other consumers or liquidators, returned to suppliers, or donated through a new program Amazon hopes wi


How Amazon is redefining the expensive and wasteful process of returns8:59 AM ET Sat, 19 Oct 2019Returns take a major toll on retailers’ bottom line and on the planet, but Amazon is taking big steps to change that.
Free returns are now offered on almost all Amazon orders, with a new option to bring unboxed items in-person to any Kohl’s store.
The majority of returned Amazon items are resold to other consumers or liquidators, returned to suppliers, or donated through a new program Amazon hopes wi
How Amazon is making returns more efficient and less wasteful Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-19
Keywords: news, cnbc, companies, wasteful, taking, efficient, items, toll, store, returns, amazon, waste, making, unboxed, returned, suppliers


How Amazon is making returns more efficient and less wasteful

How Amazon is redefining the expensive and wasteful process of returns

8:59 AM ET Sat, 19 Oct 2019

Returns take a major toll on retailers’ bottom line and on the planet, but Amazon is taking big steps to change that. Free returns are now offered on almost all Amazon orders, with a new option to bring unboxed items in-person to any Kohl’s store. The majority of returned Amazon items are resold to other consumers or liquidators, returned to suppliers, or donated through a new program Amazon hopes will cut down on waste.


Company: cnbc, Activity: cnbc, Date: 2019-10-19
Keywords: news, cnbc, companies, wasteful, taking, efficient, items, toll, store, returns, amazon, waste, making, unboxed, returned, suppliers


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UAW’s strike against GM sidelines 12,000 auto supplier workers, says trade group

Adriane Hall, a United Auto Workers member of 12 years, screams as vehicles drive by honking in support of autoworkers in Flint, Mich. on Sept. 16th, 2019. DETROIT – The fallout from the United Auto Workers’ strike against General Motors continues to grow as the work stoppage carries into its third week. The Original Equipment Suppliers Association, a trade group for auto suppliers, more than 100 of GM’s suppliers have enacted “some form of temporary layoffs” of up to 12,000 U.S. salaried and ho


Adriane Hall, a United Auto Workers member of 12 years, screams as vehicles drive by honking in support of autoworkers in Flint, Mich. on Sept. 16th, 2019. DETROIT – The fallout from the United Auto Workers’ strike against General Motors continues to grow as the work stoppage carries into its third week. The Original Equipment Suppliers Association, a trade group for auto suppliers, more than 100 of GM’s suppliers have enacted “some form of temporary layoffs” of up to 12,000 U.S. salaried and ho
UAW’s strike against GM sidelines 12,000 auto supplier workers, says trade group Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: michael wayland
Keywords: news, cnbc, companies, shares, group, american, auto, strike, workers, gms, 12000, layoffs, trade, magna, suppliers, uaws, sidelines, supplier


UAW's strike against GM sidelines 12,000 auto supplier workers, says trade group

Adriane Hall, a United Auto Workers member of 12 years, screams as vehicles drive by honking in support of autoworkers in Flint, Mich. on Sept. 16th, 2019. The Flint Assembly employees are among the roughly 48,000 General Motors workers who have been on strike and picketing since Monday.

DETROIT – The fallout from the United Auto Workers’ strike against General Motors continues to grow as the work stoppage carries into its third week.

The Original Equipment Suppliers Association, a trade group for auto suppliers, more than 100 of GM’s suppliers have enacted “some form of temporary layoffs” of up to 12,000 U.S. salaried and hourly employees.

About 48,000 UAW members have been picketing outside GM’s U.S. facilities since Sept. 16. The work stoppage has rippled throughout the automaker’s North American operations, causing thousands of additional layoffs. It also has contributed to a double-digit decline in GM shares during the past three weeks.

GM shares were down more than 2% midday Tuesday to less than $34. The stock is down more than 12% since Sept.13, the last Friday before the strike began.

The furloughed workers at GM’s U.S. suppliers don’t include the thousands of workers at its Canadian and Mexican auto parts suppliers who’ve temporarily lost their jobs or the company’s more than 10,000 non-UAW employees that have been temporarily laid off in North America.

The Original Equipment Suppliers Association didn’t say which suppliers have been most impacted.

Several auto suppliers such as Magna International, an Ontario-based supplier for several components to GM, and Nexteer Automotive, which makes steering components, have confirmed temporary layoffs, while others said they would continue to monitor the strike, which is now in its 23rd day.

Citigroup, in a note to investors at the beginning of the strike, mentioned Magna as well as American Axle & Manufacturing, Lear and Aptiv as being suppliers that would be most affected by the strike. Representatives for the companies did not immediately respond or declined to comment.

Of those companies, shares of American Axle have been impacted the most, down more than 22% since the last day of trading before the strike. Shares of Lear, a major seating supplier to GM, are down about 15% during that time, followed by a 10% decline for Aptiv. Shares of Magna are down about 8%.


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: michael wayland
Keywords: news, cnbc, companies, shares, group, american, auto, strike, workers, gms, 12000, layoffs, trade, magna, suppliers, uaws, sidelines, supplier


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