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Container backlog, global supply chain disruption from Suez Canal crisis could take months to clear

“The blockage of the Suez Canal will increase the negative impact on global supply chains in the coming weeks, as the availability of empty equipment, particularly in Asia and Europe, will be affected,” Reiner Heiken, chief executive of U.S. headquartered Hellmann Worldwide Logistics, told Reuters.

China imposes $2.8 bn penalty on Jack Ma’s Alibaba Group in monopoly probe

The company founded by billionaire Jack Ma used its platform rules and technical methods like data and algorithms “to maintain and strengthen its own market power and obtain improper competitive advantage,” the investigation concluded.

Alibaba’s practice of imposing a “pick one from two” choice on merchants “shuts out and restricts competition“ in the domestic online retail market, according to the statement.

India records over 1.26 lakh new COVID-19 cases, highest this year

With 685 new COVID-related deaths in the last 24 hours, the toll in the country has mounted to 1,66,862. Currently, there are 9,10,319 active cases in the country. As many as 59,258 people were discharged or recovered from the disease during the same period.
Ten states including Maharashtra, Chhattisgarh, Karnataka, Uttar Pradesh, Delhi, Madhya Pradesh, Tamil Nadu, Gujarat, Kerala and Punjab have shown a steep rise in the daily COVID-19 cases accounting for 84.21 per cent of the 1,26,789 new infections, the health ministry said on Thursday.

Indian travellers ready to adopt ‘digital health passports’ to restart travel

Despite an overwhelming response to digital health passports, when queried further, there are concerns about security and privacy such as: • 34% of respondents are worried about data security risks with their personal information being hacked, • 28% of respondents are concerned about lack of transparency and control over how and where their data will be shared.

UK launches new watchdog to keep tech giants in check

“Today is a major milestone in the path to creating the world’s most competitive online markets, with consumers, entrepreneurs and content publishers at their heart,” said UK Digital Secretary Oliver Dowden.

“The Digital Markets Unit has launched and I’ve asked it to begin by looking at the relationships between platforms and content providers, and platforms and digital advertisers. This will pave the way for the development of new digital services and lower prices, give consumers more choice and control over their data, and support our news industry, which is vital to freedom of expression and our democratic values,” he said.

Passenger vehicle sales jump 28 pc in March, Covid concerns remain: FADA

Commercial vehicles witnessed a downswing of 42.20 per cent to 67,372 registrations versus 1.16 lakh in March 2020. Two-wheeler registrations totalled 11.95 lakh last month compared to 18.46 lakh in March 2020, marking an downturn of 35.26 per cent.

However, passenger vehicle registrations edged higher by 28.39 per cent to 2.79 lakh from 2.17 lakh in the year-ago period.

India’s record COVID-19 surge continues, vaccines run short

Healthcare workers outside a government hospital in Mumbai city – India’s financial capital – were seen turning people away, asking them to call a helpline number set up by the municipal authorities. “We don’t know when the vaccine will be back in stock. It could be available later today or maybe tomorrow,” one of them said.

Notices saying “vaccine out of stock” were plastered outside a centre in a neighbouring suburb, along with helpline numbers. In two other districts in Maharashtra, local officials said inoculation efforts had been stopped and centres were closed.

Egypt seeks settlement out of court for Suez Canal blockage

The canal chief said last week the Suez Canal Authority was expecting more than $1 billion in compensation, warning the ship would not be allowed to leave the canal if the issue of damages turns into a legal dispute.
“We are discussing with them a peaceful resolution to the matter without resorting to the judiciary,” he said. He maintained that bringing the case before a court would be more harmful to the firm than settling with the canal”s management.

CEO Mary Barra bets GM can grow beyond cars and trucks

The veteran GM engineer’s Global Innovation team is looking for new enterprises to expand the automaker’s sources of revenue well beyond vehicle sales and is incubating ventures from commercial delivery services to vehicle insurance, to address future markets worth an estimated $1.3 trillion. That doesn’t include flying cars, a market sector that alone could be worth $1.3 trillion, Fletcher told Reuters.
The goal is to become a diversified purveyor of mobility services – the automotive equivalent of Apple, with revenue that rolls in monthly or quarterly from software and services long after the initial product is sold.