Toyota Motor was ramping back production at its Japan-based factories on Wednesday after a computer system processing orders for vehicle parts broke down on Tuesday, forcing the closure of 14 assembly plants. The disruption shut down a system that is …
Toyota Motor Corp. on Tuesday said it has suspended operations at all 14 of its assembly plants in Japan due to a production system malfunction, bringing domestic output to a standstill at the world’s biggest-selling automaker. The glitch is preventing …
The Lloyd’s re/insurance marketplace announced the next 11 insurtech start-ups that will join the eighth cohort of the Lloyd’s Lab in its 10-week program. Lloyd’s Lab, the market’s innovation accelerator, brings together insurtech, insurers, and brokers to test new, innovative …
There could be a shortage of merchant sailors to crew commercial ships in five years if action is not taken to boost numbers, raising risks for global supply chains, a report said on Wednesday. The shipping industry is already struggling …
Leading container lines are diverting ships to Lebanon’s smaller terminal of Tripoli after the devastating explosion at Beirut’s port that killed 145 people also paralyzed vital trade. Lebanon, which imports almost all it uses, relies on container ships to bring …
The upheaval from the coronavirus outbreak may be the final jolt that the world’s biggest companies need to reevaluate how they operate in a globalized economy, the OECD’s chief economist Laurence Boone said. The sprawling, continent-crossing supply chains of corporations …
Chinese policymakers have implemented a raft of measures to support an economy jolted by a coronavirus outbreak that is expected to have a devastating impact on first-quarter growth. The People’s Bank of China (PBOC) is attempting to restore investor confidence, …
China’s southern province of Hainan has launched the first specially designed insurance product to cover losses incurred by businesses as a result of the coronavirus outbreak in the country, the banking and insurance regulator said. The scheme has set aside …
A single cyber attack that affects major ports across Asia-Pacific could cost $110 billion, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018*, according to research from Lloyd’s of London. These losses could occur …
Norsk Hydro, one of the world’s largest aluminum producers, said a key unit is operating at only 50 percent of capacity following a cyber attack on the company this week. “Extruded Solutions is working hard to enable further restarts during …
