Reports surfaced over the weekend and today of the Federal Trade Commission's plans to block the proposed Staples and Office Depot merger. The New York Post cited anonymous sources were preparing to block the $6.3 billion deal. And, consumers spent an estimated $4.45 billion shopping online on Thanksgiving and Black Friday. More consumers turned to online shopping instead of going to physical stores this weekend.
Category Archives: Afternoon Coffee
Orders for durable goods rose 3% in October, the Commerce Department reported today. Commercial aircraft orders showed the largest growth last month, rising 81%. And, consumer spending “barely rose” in October, increasing just 0.1% from September. Consumers reportedly took advantage of saving opportunities during the month as incomes increased 0.4% last month. Afternoon Coffee brings you the latest in procurement and supply chain news.
U.S. gross domestic product rose 2.1% in the third quarter, the Department of Commerce reported today. This is higher than the previously estimated 1.5% GDP growth. And, the Federal Trade Commission has approved the merger of Fedex Corp and TNT Express. Fedex announced in April it wanted to buy the Netherlands-based delivery company for $4.8 billion. Afternoon Coffee brings you the latest in procurement and supply chain news.
U.S. manufacturing activity fell to a two-year low this month, according to the flash purchasing-managers’ index by Markit. The index hit 52.6 in November, down from the 54.1 in October. And, ocean carriers say traffic is picking up again at the Panama Canal after some container ships were experiencing 10-day wait times due to higher than normal demand. Afternoon Coffee brings you the latest in procurement and supply chain news.
Afternoon Coffee: 3 U.S. Cities Named Up-and-Coming Global Logistics Hubs, Welsh Government’s Use of P-Cards Under Fire
Philadelphia, Miami and Seattle were named among the 20 global metropolises primed to become “major players in the network for global trade,” according to a report by real-estate brokerage CBRE Inc. Welsh conservatives have called on the Wales Audit Office to review the use of p-cards by government employees, which critics said are being used without proper transparency or accountability. Afternoon Coffee brings you the latest in procurement and supply chain news.
E-commerce is significantly ramping up, but traditional retailers’ efforts to improve the online shopping experience may be made in vain. A new poll by Reuters and Ipsos shows 51% of consumers plan to do most of their holiday shopping on Amazon.com. Amazon.com is also starting to offer its Black Friday deals a week early, beginning tomorrow on Nov. 20. Afternoon Coffee brings you the latest in procurement and supply chain news.
Foxconn Technology Group, Apple’s largest contract electronics manufacturer and the maker of iPhones, is looking to ramp up its offerings of loans and other financing to other electronics component suppliers. And, Norfolk Southern Railway rejected the $28.4 billion buyout offer from Canadian Pacific Railway Ltd. Norfolk called the offer a “low-premium.” Afternoon Coffee brings you the latest in procurement and supply chain news.
Afternoon Coffee: SABMiller Scraps Plans for New Supply Chain Jobs, Industrial Production Falls in October
SABMiller said it will no longer create two new supply chain positions after it officially acquires AB InBev. SABMiller originally planned to create a group director of integrated supply position and a role for a group director of human resources. And, U.S. industrial production declined in October 0.2%, in part because of falling crude oil prices discouraging oil drilling activity. Afternoon Coffee brings you the latest in procurement and supply chain news.
The U.S. producer prices index fell 0.4% in October from the month prior and 1.6% from October 2014, marking the largest annual decline since 2009. The index measures the prices companies receive for goods and services. And, General Motors, Ford and Fiat Chrysler are ramping up production of small cars in Mexico in an effort to reduce labor costs. Afternoon Coffee brings you the latest in procurement and supply chain news.
Afternoon Coffee: IEA Says Oil Demand Growth Will Slow in 2016, US Business Inventories Unexpectedly Rise in September
Oil demand growth is expected to slow in 2016 as stockpiles have now reached a record high, the International Energy Agency said today. The agency estimated global oil demand growth will sink 3.6% next year. And, U.S. business inventories increased in September 0.3%, the Commerce Department reported. Afternoon Coffee brings you the latest in procurement and supply chain news.
Afternoon Coffee: Apple May Launch New Peer-to-Peer Payment Service, EU Extends Investigation into Staples’ Proposed Office Depot Takeover
Apple is reportedly in talks with banks to launch a new person-to-person payment service. The service would allow smartphone users to send money to other people. It would compete with other peer-to-peer payments applications like PayPal’s Venmo. And, antitrust regulators with the European Union said they would take until March 2 now to investigate Staples’ $6.3 billion bid to acquire Office Depot. Afternoon Coffee brings you the latest in procurement and supply chain news.
Afternoon Coffee: Anheuser-Busch InBev Formalizes Deal to Acquire SABMiller, Agricultural Industry Braces for Impacts of El Niño
Anheuser-Busch InBev formalized its deal today to take over SABMiller for $107 billion. AB InBev will pay about $67 per share for the majority of SABMiller’s stock. And, the global agricultural industry is preparing for the El Niño weather pattern to pose significant problems this year. Afternoon Coffee brings you the latest in procurement and supply chain news.