USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Microchip Technology Boosts Q3 Outlook on Strong Bookings Momentum 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Proxy Advisors Urge Vote Against ANZ’s Executive Pay Report Amid Scandal Fallout 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Nissan Motor Company, Ltd., the Japanese automaker headquartered in Nishi-Ku, Yokohama, Japan, was forced to close down its plant in Smyrna, Tennessee, as there is not enough supply of semiconductor parts.
The chip shortage at the said Nissan plant caused a 2-week closure that already started on Monday. The 6 million-square-foot factory in Tennessee has 6,700 employees, and apparently, they will be affected by the halt of production.
According to Fox Business, this will be the longest shutdown among the vehicle manufacturing factories in the United States. Nissan cited the COVID-19 outbreak in Malaysia as the cause of the chip shortage it is experiencing now.
A semiconductor plant in Malaysia that supplies computer chips to the company was plagued with coronavirus infections of its workers; thus, it had to close as well. It was reported that production is expected to resume on Aug. 30.
Sam Abuelsamid, an analyst at Guidehouse Research, said that the latest shutdown of the massive Nissan factory just shows that the chip shortage is not ending soon. Many tech and auto companies have hoped the semiconductor supply will return to normal before this year ends, but it seems that this is not the case at all. "It’s looking like it’s going to stretch at least into the new year," he said.
The affected vehicles in the most recent production halt at Nissan are the Rogue SUV and six other models, including the pickup trucks. The small SUV is said to be the company’s top-selling vehicle model in the U.S.
The Detroit News reported that the chip shortage was starting to get better, however, the Delta COVID-19 variant struck, and it is causing problems again. This new variant is worse, so the business may slow down again instead of starting to pick up.
Phil Amsrud, IHS Markit’s senior principal analyst, studies the chip market and said that the chip shortage leading to factory closures may drive prices to increase. In any case, he added that the growing demand has also played a part in chip shortage since more vehicles are being made. Then again, despite the situation, hopes for the end of chip shortage are still high among business owners.
