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Toyota production stoppage extended amid supply strain

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As the world continues to deal with growing supply-chain shortages, Toyota has announced it plans to extend a stoppage at two factories in Japan

Toyota Motor Corporation has revealed it intends to extend a partial production suspension at two factories within Japan, due to COVID related supply problems from Southeast Asia.

According to Kyodo news, lost production caused by the suspension in December will now total approximately 14,000 vehicles, a rise from the expected 9,000 flagged last Friday.

The production cuts are some of the biggest seen within the automotive sector, and comes as Toyota attempts to make up for lost production, caused by earlier supply-chain issues within Malaysia and Vietnam.

The car maker will maintain its annual global production target of 9 million vehicles for fiscal year 2021.

Toyota extends production halt / Image: File

In October, US President Joe Biden unveiled plans to tackle the international supply-chain crisis

The President ordered a “90 day sprint” back in the month of October, as a solution to reduce bottlenecks.

Biden also announced that a major shipping hub, the Port of Los Angeles will move to constant service.

White House chief of Staff Jen Psaki says the Biden administration is “using every tool at their disposal to ease the impact on the American people”.

The coronavirus pandemic has wreaked havoc on supply chains right around the world… with the vast network of ports, container vessels and trucking companies now badly congested.

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China has pledged to “significantly increase” debt to jumpstart its economy

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Finance Minister Lan Foan announced plans to help local governments tackle debt, support low-income households, and boost the property market.

Investors have been urging such steps as China faces deflationary pressures and a sharp property market downturn.

However, no figure was provided for the stimulus package, leaving markets anxious about the strength and duration of the recovery effort.

Economists warn that this lack of clarity may prolong uncertainty until China’s legislature approves extra debt measures.

Concerns are rising that China may fall short of its 5% growth target, signalling deeper structural challenges ahead.

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Niche accountants proving essential to e-commerce success

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Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

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Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

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Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending

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