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If you want your Christmas gifts to arrive on time, you might need to order them now



Shipping delays and soaring delivery prices may mean your Christmas gifts won’t arrive on time this year

2021 has been a tricky year for the global supply chain, with shipping delays and soaring delivery prices. The industry has faced issues ranging from the outbreak of Covid-19, to container shortages and a ship becoming stuck in a major transport canal.

But now, experts are warning that these issues are not likely to resolve themselves any time soon, and we might be looking at shipping delays long enough to disrupt this year’s Christmas shopping.

“U.S. importers at the moment are panicking,” says Steve Saxon, a McKinsey & Co. partner in China. “People are already worried about whether they can the shipping capacity in August and September.”

Major Chinese port shuts down amid Covid outbreak

One of China’s key export hubs was partially shut down this month to control a Covid outbreak. This came as yet another blow to the $4 trillion industry. One estimate reported the shutdown brought more than 400,000 20-foot containers to a standstill.

“The latest one is the worst in terms of the supply-constraint hits,” says Saxon. He believes the Yantian port won’t return to business as usual until August.

August is peak time for retails to stock up on inventory for Christmas shoppers, which has led to fears over potential incoming shortages.

“Worse than the Suez Canal”: Global supply chain nightmare

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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Big tech stocks tumble amid market uncertainty



Big tech companies are struggling in the markets this quarter as interest rates rise to battle inflation

Russia’s invasion of Ukraine has devalued tech stocks causing further supply chain disruptions and sending the broad S&P 500 index down about 5 per cent.

Rising interest rates triggered more severe plummets with the S&P dropping another 16 per cent and the Nasdaq Composite index by 22 per cent.

Tesla’s stock took a huge hit sinking to nearly 38 per cent its largest decline since 2010.

Amazon saw similar results falling by 35 per cent the most in over 20 years.

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Google to pay millions to app developers



App developers are accusing Google of tempting users into making in-app purchases.

The lawsuit relates to money that was made by app creators for Android smartphones.

The lawsuit was filed in a San Francisco court, where the 48,000 app developers are believed to have been affected.

“Following our win against Apple for similar conduct, we think this pair of settlements sends a strong message to big tech: the law is watching, and even the most powerful companies in the world are accountable when they stifle competition.”

Steve Berman, ATTORNEY FOR the Android developers.

Google says the settlement’s funds will support developers who have made less than USD $2 million in revenue between 2016 and 2021.

“A vast majority of U.S. developers who earned revenue through Google Play will be eligible to receive money from this fund, if they choose,” the company says.

Google says it will charge developers a 15 per cent commission on their first million in revenue.

The court is yet to approve the proposed settlement.

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Tesla deliveries expected to fall – here’s why



Tesla deliveries are expected to drop significantly in the second quarter, as prolonged Covid lockdowns in China and supply chain issues take their toll

The company is also struggling to ramp up its new factories, with Tesla boss Elon Musk seemingly distracted by his very public pursuit of Twitter.

Tesla has been plagued by production glitches in China and slow output growth at new factories in both Texas and Berlin.

Experts predict deliveries will slump to just over 295,000 vehicles for the second quarter.

This would be down from the company’s record of 310,000 in the preceding quarter, marking Tesla’s first quarter-on-quarter decline since 2020.

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