When the chips are down: global shortage to keep crimping carmakers
LONDON, Aug 3 (Reuters) – BMW (BMWG.DE) and Stellantis (STLA.MI) became the latest major carmakers to warn on Tuesday that the global semiconductor chip shortage that has bedeviled the industry this year will drag on throughout 2021 and beyond, hitting production and sales. Carmakers, forced by the COVID-19 pandemic to shut down plants last year, face stiff competition from […]
U.S. consumer spending takes breather; inflation pushes higher
U.S. consumer spending paused in May as shortages weighed on motor vehicle purchases, but the supply constraints and increased demand for services helped to boost inflation, with the Federal Reserve’s main inflation measure posting its biggest annual increase since 1992.
Intel reiterates chip supply shortages could last several years
Intel Corp’s (INTC.O) CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas, including consumer electronics.
