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

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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

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  • Keira is the front-page editor at Ticker NEWS. She's previously worked at Reuters in Jakarta, and ABC in Australia. She has a Bachelor of Journalism, specialising in international politics. Keira is particularly interested in writing about politics, technology and human rights.

Keira is the front-page editor at Ticker NEWS. She's previously worked at Reuters in Jakarta, and ABC in Australia. She has a Bachelor of Journalism, specialising in international politics. Keira is particularly interested in writing about politics, technology and human rights.

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Business

2500 employees to be stood down from Qantas

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About 2500 frontline Qantas and Jetstar employees will be stood down for two months

BREAKING NEWS

It comes as the airline struggles to deal with lockdowns in states across Australia.

The national carrier says the stand-down is a temporary measure to deal with a drop in flying caused by COVID restrictions in Sydney, – which is its home base.

No job losses are expected as part of the move.

QANTAS CEO ALAN JOYCE

In a statement, Qantas CEO Alan Joyce says:

“This is clearly the last thing we want to do, but we’re now faced with an extended period of reduced flying and that means no work for a number of our people.”

“We’ve absorbed a significant amount of cost since these recent lockdowns started and continued paying our people their full rosters despite thousands of cancelled flights.“

Qantas said it welcomed the targeted Federal Government support offered for those stood down outside of declared hotspots and to retain domestic aviation capability.

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Business

Outside the square – Twitter CEO’s grand plans for Afterpay

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Jack Dorsey has used Square’s quarterly earnings call to outline his company’s future and convince shareholders to support the $39billion dollar Afterpay takeover bid

Dorsey believes bringing Afterpay into business operations will increase e-commerce activity across both platforms and further entice young shoppers to spend up.

It plans to takeover Afterpay in a deal that values the Australian company at $39 billion. That makes it the biggest buyout deal so far in Australian corporate history.

The Twitter founder says Afterpay has a unique advantage in the buy now, pay later sector because it was the first on the scene and it has been built up “authentically”.

SQAURE WILL ACQUIRE AFTERPAY IN A 39 BILLION DOLLAR DEAL

Dorsey says Afterpay was “extremely early in this space and helped define a lot of it, and really raised the bar for what everyone else doing – we were impressed by the vision, the ambition and the entrepreneurship”.

Following the takeover announcement, Square’s shares fell by 5 percent when compared with trading on Friday, as investors made sense of the deal.

However, after Dorsey’s pitch at the quarterly earnings call, Squares shares were up 6 percent from Friday.

It comes as shareholders voice their concerns that Square is failing to bring merchants and retail users together… and questioning how Afterpay will create value for the company.

James Whelan of VFS Group weighed in on whether Afterpay is in fact authentic.

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Business

‘Jungle Cruise’ tallies $34.2 million in domestic debut, reaches Disney+ record

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After Disney struggled during the past few weeks, the studios latest feature film “Jungle Cruise” opened to $61 million dollars worldwide.

The film was also released on Disney Plus’ Premier Access and brought in over $30 million globally on the platform.

Overall, the film, which is based on the beloved Disney theme park ride, notched more than $90 million.

The “Jungle Cruise” opening is also notable because it comes just a few days after Scarlett Johansson filed a lawsuit against Disney.

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  • Jack is a journalist and producer at Ticker NEWS. He's previously worked for digital media publications in Australia and the US. Jack is particularly interested in reporting on international affairs and sport.

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