Us Supply Chain Crisis

The US government will fly in baby formula on commercial planes contracted by the military in an airlift aimed at easing the major shortage plaguing the country, the White House said on Wednesday.

Ford Motor has sold eight million shares of electric-car maker Rivian Automotive for $214 million, or $26.80 apiece, the US automaker said in a filing. Rivian is said to be struggling in a competitive market, including competition from Ford's F-150 Lightning electric pickup truck, while a supply chain crisis is limiting production at its plants.

Oil prices dipped in and out of the negative territory on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a supply boost by the US.

"Put simply, we want to avoid the $400 (roughly Rs. 30,170) bottle of Purell (sanitiser) for sale right after an emergency goes into effect, while not punishing unavoidable price increases that emergencies can cause, especially as supply chains are disrupted," Amazon vice president Brian Huseman said.

US President Donald Trump has advised his countrymen against hoarding of essential items as reports of grocery stores being swept by panic buying due to the coronavirus crisis emerged, saying supply chains in the country are the most powerful in the world and there is no shortage of daily goods.

The US government will fly in baby formula on commercial planes contracted by the military in an airlift aimed at easing the major shortage plaguing the country, the White House said on Wednesday.

Ford Motor has sold eight million shares of electric-car maker Rivian Automotive for $214 million, or $26.80 apiece, the US automaker said in a filing. Rivian is said to be struggling in a competitive market, including competition from Ford's F-150 Lightning electric pickup truck, while a supply chain crisis is limiting production at its plants.

Oil prices dipped in and out of the negative territory on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a supply boost by the US.

"Put simply, we want to avoid the $400 (roughly Rs. 30,170) bottle of Purell (sanitiser) for sale right after an emergency goes into effect, while not punishing unavoidable price increases that emergencies can cause, especially as supply chains are disrupted," Amazon vice president Brian Huseman said.

US President Donald Trump has advised his countrymen against hoarding of essential items as reports of grocery stores being swept by panic buying due to the coronavirus crisis emerged, saying supply chains in the country are the most powerful in the world and there is no shortage of daily goods.