Business

Christmas delays? ‘Challenging conditions’ causing shortages to your goods

Published

1 year ago

June 14, 2021

Experts are warning that consumers may begin to feel the pinch from rising shipping costs, as the price of transporting goods by sea skyrockets.

New figures show the transportation of a 40-foot steel container ship between Shanghai and Rotterdam now costs over $10,000, that’s a huge 547 percent increase on the average price.

Around 80 percent of the world’s goods are transported by ships, meaning the costs will be largely unavoidable for both consumers and businesses.

Toy importer, Gary Grant says “during 40 years in toy retailing he has never known such challenging conditions from the point of view of pricing.”

It’s believed the rise in costs is associated with a number of factors, from soaring demand to a shortage of containers, busy ports and a limited workforce.

The disruption to the shipping industry could lead to shortages in the lead up to Christmas.

An outbreak of Covid-19 in a province in southern China is causing congestion at the region’s ports.

Shipments have now been delayed… adding to the tensions within global supply chains, the knock-on effects could take many months to resolve.

This is the latest in a series of severe setbacks for the industry and experts says that problems in just one region can have ripple effects around the world for several months.

Related Topics:delays experts industry shipping transport

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Business

Big tech stocks tumble amid market uncertainty

Published

2 days ago

July 1, 2022

Natasha Schapova

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.

Business

Google to pay millions to app developers

Published

2 days ago

July 1, 2022

ticker NEWS

Google has agreed to pay USD $90 million to settle a legal fight with 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.