In July, the United Kingdom produced the fewest new cars in 65 years (since 1956). The reasons for these figures were a shortage of processors and employee self-isolation due to the coronavirus. U.K. car production in July was the lowest for the month since 1956, according to the local Society of Motor Manufacturers and Traders (SMMT). There were 58,438 cars produced, 37.6 percent fewer than...

Hard drive and disk drive manufacturer Western Digital is in talks to merge with Japanese company Kioxia, formerly owned by Toshiba and known as Toshiba Memory, The Wall Street Journal (WSJ) reports citing sources. According to their information, the sides have advanced in discussions of a possible merger. Kioxia manufactures flash memory chips used in phones, servers and other devices. Western...

The majority of German companies (83%) report problems with the supply of raw materials, components and other goods, as well as significant price increases, says the German Federal Association of Chambers of Commerce (DIHK). Only about 20% of the companies said they expect the situation to improve this year, while 53% of the companies said they did not expect any improvement until next year....

Number of new homes in the US with construction starts in July fell 7% from the revised June figure to 1.534 million, the country's Commerce Department said in a statement. Analysts polled by DailyFX had expected the figure to fall to 1.6 million from the initial June level of 1.643 million. However, the June figure was revised upwards to 1.65 million new buildings. Compared to July 2020, when...

The World Trade Organisation (WTO) reported that its merchandise trade figure has reached its highest level since the calculation began, indicating an economic recovery from the COVID-19 pandemic. As noted by the WTO, its indicator, the Commodity Trade Barometer, provides real-time information on the trajectory of merchandise trade relative to recent trends, outpacing traditional trade volume...

The demand for gasoline and coal in the U.S. is increasing compared to last year amid the economic recovery from the COVID-19 pandemic, writes The Financial Times, referring to the report of the Energy Information Administration (EIA) of the Energy Department of the country. According to EIA, Americans used an average of 8.6 million barrels of gasoline per day (bpd) in the first half of the year....

Oil demand growth in 2021 will not be as strong as previously expected, with an agreement by OPEC+ countries to increase supply leading to a significant increase in the market, the International Energy Agency (IEA) warned. Global oil demand in June compared to May increased by 3.8 million barrels per day (bpd), but in July the trend reversed - demand decreased by 120 thousand bpd, according to...

Humanity's struggle for the environment and ecology will lead to an imminent rise in the prices of almost all goods around the world. Countries are forced to impose additional restrictions to stimulate production to the ecological transformation, which will require additional costs and lead to the so-called "green inflation". This is reported by Reuters, citing interviewed analysts. Despite...

Influential garment factory owners in Bangladesh have warned of disastrous consequences if orders for foreign brands are not fulfilled on time. Authorities will therefore allow export factories to resume operations despite record deaths from COVID-19. This was reported by The Guardian. Authorities have decided to close factories, offices, transport and shops from July 23 to August 5 and to impose...