Cyber supply chain risk management

Shein, the wildly successful e-commerce fashion company that came onto the scene a mere 14 years ago, is reportedly pondering a valuation of $100 billion, a staggering sum that would make the company one of the most valuable startups in the world , right up there with Elon Musk’s SpaceX . The Chinese retailer has thus far managed to steamroll through its worst PR debacles—allegations of design theft , criticism of its enormous environmental footprint , outrage-sparking offerings such as a swastika necklace —in its quest to win over the hearts and minds of shoppers on the hunt for cute styles at rock-bottom prices. So far, it’s working. Shein’s Gen Z cult following has been well documented, with teens and 20-somethings taking to TikTok in droves to show off and review their Shein hauls . The startup’s strategies dovetail neatly with the social networking platform’s structural need for a constant stream of fresh content, so much so that scrolling through Shein’s … [Read more...] about Has Shein Killed the Dream of Sustainability in Fashion?

0 Business A vertical farming facility with headquarters in The Netherlands will be opening in Howard County and creating more than 50 new jobs. Kristin Danley-Greiner , Patch Staff Posted Reply HOWARD COUNTY, MD — Based in The Netherlands, global urban farming company Infarm will set down roots in Howard County by constructing its third growing center in the U.S. in Columbia. The company already has a vertical farming facility in Seattle, Wash., and recently announced it will construct one in Austin, Texas. Infarm plans to roll out its network of cloud-connected farming facilities with a size of more than 500,000 square feet from coast to coast. The new growing center in Maryland will add an estimated 200,000 square feet to Infarm's U.S. portfolio and produce up to 45 million crops per year. The growing center will create more than 50 jobs in Howard County. "It is exciting to have one of the world's largest urban farming … [Read more...] about Vertical Farming Facility From The Netherlands To Open In Howard Co.

2 Business The story you're about to read is bananas, and it's also about bananas. Pro Publica , News Partner Posted Replies By Michael Grabell, ProPublica June 17, 2022 Last fall, a company called One Banana loaded 600,000 pounds of the fruit from its plantations in Guatemala and Ecuador onto ships bound for the Port of Long Beach in California. Once they arrived, the bananas, packed in refrigerated containers, were offloaded by cranes for trucking to a nearby warehouse, where the fruit would be sent to supermarkets nationwide. But in the midst of a global supply chain crisis, none of the trucking companies the importer normally worked with were willing to come and get the containers. As the bananas sat at the marine terminal, a logistics specialist for One Banana scrambled, contacting more than a dozen trucking firms. With each passing hour, the bananas grew closer to spoiling. "We need to pull out 15 … [Read more...] about The Hidden Fees Making Your Bananas, And Everything Else, Cost More

New York (CNN Business) Tesla faces billions of dollars in losses from its new plants, supply chain problems and Covid lockdowns — enough for CEO Elon Musk to mention the possibility of bankruptcy in a recent interview. "The past two years have been an absolute nightmare of supply chain interruptions, one thing after another," Musk said in an interview with a Tesla owners group. "We're not out of it yet. That's overwhelmingly our concern is how do we keep the factories operating so we can pay people and not go bankrupt." Musk engaged in hyperbole elsewhere in the interview, and he may have been doing so when mentioning the risk of bankruptcy. For example, he said that automakers in general "desperately want to go bankrupt," which falls in the category of colorful language rather than strict financial analysis. But the company is coming to the end of its most difficult quarter, financially speaking, in more than two years. Tesla's factory in … [Read more...] about Elon Musk says he’s worried about keeping Tesla out of bankruptcy

(CNN) — Tesla faces billions of dollars in losses from its new plants, supply chain problems and COVID-19 lockdowns — enough for CEO Elon Musk to mention the possibility of bankruptcy in a recent interview. “The past two years have been an absolute nightmare of supply chain interruptions, one thing after another,” Musk said in an interview with a Tesla owners group. “We’re not out of it yet. That’s overwhelmingly our concern is how do we keep the factories operating so we can pay people and not go bankrupt.” READ MORE: Amazon Alexa Will Be Able To Mimic Deceased Loved Ones' Voices Musk engaged in hyperbole elsewhere in the interview, and he may have been doing so when mentioning the risk of bankruptcy. For example, he said that automakers in general “desperately want to go bankrupt,” which falls in the category of colorful language rather than strict financial analysis. But the company is coming to the end of its most difficult quarter, financially speaking, in more than two … [Read more...] about ‘Past 2 Years Have Been An Absolute Nightmare’: Elon Musk Says He’s Worried About Keeping Tesla Out Of Bankruptcy

China’s state-run Global Times on Tuesday railed at length against the alleged “unilateralism, protectionism, and bullying” of America’s Uyghur Forced Labor Prevention Act (UFLPA) – but also admitted the law is working as intended, even before it officially went into effect on Tuesday. The UFLPA was passed by Congress and signed into law in December 2021 with a 180-day grace period, so enforcement did not begin until June 21, 2022. The law requires importers to certify their products and supply chains are free from the taint of forced labor in Xinjiang province, where China herded millions of Uyghur Muslims into brutal concentration camps and forced them to work for various industries, notably including Xinjiang’s huge cotton fields. Analysts for the clothing industry noted that UFLPA sets a high bar for textile manufacturers to clear, so many of them began seeking alternatives to Xinjiang cotton even before the law went into effect. Other international … [Read more...] about China Admits Campaign Against Uyghur Slave Cotton Is Working

16 Business Report underscores fears inflation has spread beyond energy and goods, whose prices are driven up by supply chain issues and Ukraine war. Associated Press , News Partner Posted Replies WASHINGTON — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6 percent last month from a year earlier, faster than April's year-over-year increase of 8.3 percent, the Labor Department said Friday. The new inflation figure, the highest since 1981, will heighten pressure on the Federal Reserve to continue raising interest rates aggressively. On a month-to-month basis, prices jumped 1 percent from April to May, much faster than the 0.3 percent increase from March to April. Contributing to that surge were much higher prices for everything from airline tickets to restaurant meals to new and … [Read more...] about Inflation Hits New 40-Year High As Price Increases Spread

4 Business The central bank raised it's key interest rate by three-quarters of a point, part of a campaign to tighten credit and slow inflation. Associated Press , News Partner Posted Replies WASHINGTON — The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. The move the Fed announced after its latest policy meeting will raise its benchmark short-term rate, which affects many consumer and business loans, to a range of 1.5 percent to 1.75 percent. With the additional rate hikes they foresee, the policymakers expect their key rate to reach a range of 3.25 percent to 3.5 percent by year's end — the highest level since 2008 — meaning that most forms of borrowing will become sharply more expensive. The central … [Read more...] about Fed Attacks Inflation With Highest Rate Hike Since 1994

3 Restaurants & Bars That latte is about to get a little more expensive due to inflation, increasing labor costs and supply chain issues. Emily Rosca , Patch Staff Posted Replies AURORA, IL — Starbucks will soon be raising prices at all stores amid disruptions brought on by the omicron variant, supply chain issues, increased labor costs and inflation, the coffee giant announced. In a company conference call Tuesday, Starbucks said it missed a benchmark for its quarterly profit during the omicron surge, which caused labor shortages and spurred higher costs, KTLA reported. Starbucks highlighted "extraordinary cost pressure" and "higher than anticipated costs from training and onboarding" new employees. "Although demand was strong, this pandemic has not been linear and the macro environment remains dynamic as we experienced higher-than-expected inflationary pressures, increased costs due to Omicron, and a tight … [Read more...] about Starbucks Prices Rising Again In Aurora: Here’s Why

9 Business "Shrinkflation" is a tool companies use to indirectly raise prices, but as some post record profits, questions arise about profiteering. Beth Dalbey , Patch Staff Posted | Updated Replies ACROSS AMERICA — If you've noticed fewer chips for the family to dip after a trip to grocery stores, you're not alone. Welcome to " shrinkflation ," which allows manufacturers to raise prices on the sly by making packages and servings smaller. The cost of many of those items manufacturers are downsizing are already increasing under the highest inflation in 40 years. According to the April Consumer Price Index data released by the Bureau of Labor Statistics, the inflation rate for the year ending April 30 was 8.3 percent. CPI data for May 2021 to 2022 will be released Friday. So, you're already paying more to eat at home. Food costs increased 10.8 percent from April 2021 to April 2022, the highest 12-month increase in … [Read more...] about ‘Shrinkflation’ Sends Grocery Bills Sky High Before You See It Coming