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On January 12, the Financial Supervision Administration held a 2025 supervision work meeting. The meeting pointed out that multiple measures should be taken to help the economy recover and improve. We will step up efforts to implement a package of incremental policies to stabilize growth. We will take the lead in establishing a coordination mechanism to support financing of small and micro enterprises, and expand the policy of interest-free loan renewal to medium-sized enterprises in stages. The scope of the pilot equity investment of financial asset investment companies has been expanded to 18 cities, and the scale of the signed intended funds has exceeded 340 billion yuan. We will provide guidance on the response and disposal of natural disasters such as rainstorms and typhoons and major accidents. The insurance industry paid out more than 2.3 trillion yuan.Kuwait set its February crude oil sales to the United States at a premium of $3.70 per barrel (over the Oman/Dubai average price), and its crude oil sales to Asia at a premium of $0.45 per barrel. It set its February crude oil sales to northwestern Europe at a discount of $3.40 per barrel, and its February crude oil sales to the Mediterranean region at a discount of $3.4 per barrel.On January 12, the booking for the 2025 Spring Festival travel has reached its peak. According to Qunars big data, January 25 may become the peak of the number of people traveling in a single day during the Spring Festival. At present, the train tickets for January 25 have been put on sale, and some popular train tickets for visiting relatives have been sold out, driving the sales of Spring Festival air tickets to a peak. According to the analysis of Qunar Big Data Research Institute, this years Spring Festival, many people will choose to take leave on January 26 and 27 to make an 11-day super-long holiday. According to the current booking situation, the highest number of trips is on January 25, exceeding the day before New Years Eve. The long holiday has spawned a "transition vacation", first going home to visit relatives, then traveling, and finally returning to work and school. Many passengers will quickly and frequently "transfer" between multiple places. The number of passengers who purchased multiple tickets within 11 days has increased by 50% year-on-year.Russia controls the settlements of Yantana and Kalyunov in eastern Ukraine.The German Geoscience Research Center GFZ raised the magnitude of the 6.4 earthquake that occurred off the coast of Michoacan, Mexico to 6.6.

Parts Scarcity Forces Ford and GM to Shut Down Two Michigan Factories

Aria Thomas

Apr 01, 2022 09:55

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Ford, the United States' No. 2 manufacturer, announced it will halt production at its Flat Rock Assembly Plant, where the Mustang is built, next week due to a worldwide semiconductor shortage.


GM said that it will halt production at its Lansing Grand River assembly plant next week due to a temporary component shortage. The plant produces the Cadillac CT4, Cadillac CT5, and Chevrolet Camaro. GM said that the manufacturing pause was not connected to chips but did not give any details.


The automotive sector is now battling a worldwide chip scarcity caused by the COVID-19 epidemic, which has forced firms to reduce output, while high vehicle prices have largely offset the financial effect.


Ford warned last month that the chip shortfall would result in a reduction in current-quarter car sales. Ford paused production at its Kansas City assembly plant, which produces F-150 pickup trucks, for a week last month owing to a chip shortage.


Ford Motor Company, located in Dearborn, Michigan, said that manufacturing at its other North American factories would continue as usual.


GM said last week that it will cease production at a Fort Wayne, Indiana, assembly facility that makes the Chevrolet Silverado 1500 and GMC Sierra 1500 pickup trucks for two weeks starting April 4 due to a semiconductor chip shortage.


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