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Before we explore industry-specific trends, here are some key global supply chain risk signals you should be aware of:<\/p>\n
Every American’s Social Security number and address may have been stolen in hack<\/a><\/p>\n A hacker group claims to have stolen 2.7 billion records, including Social Security numbers and physical addresses, from National Public Data, a platform used for background checks. The data breach, which affects individuals in\u2026 more<\/a><\/p>\n Ningbo Port Explosion and U.S. Strike Threats Keep Container Pricing Volatile<\/a><\/p>\n Freight container pricing experienced significant volatility this year due to multiple factors including high demand, geopolitical tensions, and logistical disruptions. Notably, prices spiked by as much as 140% in May and June, driven largely by preemptive order placements amid concerns over\u2026 more<\/a><\/p>\n Japanese authorities warn population of mega-quake<\/a><\/p>\n Japanese authorities have issued a warning to the population about the increasing likelihood of a \u201cmega-quake\u201d in the near future. Experts predict that a powerful earthquake, potentially reaching magnitude 9.0, could strike the Nankai Trough, an area known for its seismic activity. This warning\u2026 more<\/a><\/p>\n CN Rail, CPKC begin halting shipments of certain goods as strike threat looms<\/span> <\/p>\n Craft’s platform<\/a> can help you monitor your supplier network to understand supplier risk and stay ahead of disruption. Contact our team to take a risk assessment<\/a>.<\/em><\/p>\n <\/p>\n Identify supplier risk in your network<\/a><\/p>\n UK\u2019s Economic Downturn Triggers Widespread Riots<\/span><\/a><\/p>\n The United Kingdom is currently facing widespread riots, driven by a severe economic downturn marked by record-high unemployment and inflation. Businesses, particularly in retail and hospitality, are struggling, leading to\u2026 <\/span>more<\/span><\/a><\/p>\n U.S. Chip Manufacturing Push Faces Major Setbacks as Billions in Subsidies Fail to Deliver<\/span><\/a><\/p>\n The United States\u2019 efforts to boost domestic chip manufacturing through the Inflation Reduction Act (IRA) and the Chip Act have largely failed. Despite a $400 billion subsidy package aimed at attracting investment, only $84 billion has been allocated, with nearly 40%… <\/span>more<\/span><\/a><\/p>\n Illegal Mining Soars Near First Quantum\u2019s Idled Panama Mine<\/span><\/a><\/p>\n Illegal mining has surged by 317% around First Quantum Minerals\u2019 Cobre Panama copper mine since it was idled in November 2023. The suspension, following a Supreme Court ruling, led to mass layoffs and left areas vulnerable to exploitation by illegal miners seeking\u2026 <\/span>more<\/span><\/a><\/p>\n Explosion at Ningbo-Zhoushan port in China raises further serious safety concerns in ocean container shipping<\/span><\/a><\/p>\n An explosion at Ningbo-Zhoushan Port in China has intensified safety concerns in ocean container shipping. The blast resulted in no casualties, but caused significant damage and led to the suspension of port operations. This incident highlights ongoing safety issues within\u2026 <\/span>more<\/span><\/a><\/p>\n <\/p>\n Need to identify high-risk suppliers in your supply chain? Learn about supplier intelligence with Craft.<\/a><\/em><\/p>\n <\/p>\n Identify supplier risk in your network<\/a><\/p>\n HSBC\u2019s Play for Mideast Wealth Marred by Exits, Regulatory Curbs<\/span><\/a><\/p>\n HSBC is facing challenges in expanding its private banking business in the Middle East, a region ripe with billionaire wealth. Aladdin Hangari, a former Credit Suisse executive hired by HSBC, aimed to double the unit\u2019s assets but faced setbacks due to regulatory restrictions and high-profile departures within\u2026 <\/span>more<\/span><\/a><\/p>\n Report: Blackstone raised rents double the market average in San Diego causing the housing crisis<\/span><\/a><\/p>\n A new report criticizes Blackstone for significantly raising rents on properties in San Diego, exacerbating the city\u2019s affordable housing crisis. The report finds that Blackstone, owning over 60 apartment buildings in the area, increased rents by up to 79%, with an average hike of 38%. This rise in rents has\u2026 <\/span>more<\/span><\/a><\/p>\n The Bank of Montreal (TSX: BMO) stock price is the worst-performer among the big 4 Canadian banks this year<\/span><\/a><\/p>\n Bank of Montreal (BMO) has been identified as the worst performer among the big four Canadian banks this year, with its stock price dropping by over 13%. This is in stark contrast to the other major banks, where, for example, Royal Bank of Canada has seen its stock rise by over\u2026 <\/span>more<\/span><\/a><\/p>\n <\/p>\n Learn how to understand the financial risks of your suppliers.<\/em><\/a><\/p>\n <\/p>\n Identify supplier risk in your network<\/a><\/p>\n CISA reveals security flaws in critical infrastructure equipment from AVEVA, Ocean Data, Rockwell Automation<\/span><\/a><\/p>\n The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has issued ten advisories addressing critical vulnerabilities in industrial control systems across key infrastructure sectors. These vulnerabilities affect various systems, including those from AVEVA and Rockwell Automation, and\u2026 <\/span>more<\/span><\/a><\/p>\n NVIDIA’s new Blackwell GB200 AI servers ‘component shortage’ leading to short supply in Q4 2024<\/span><\/a><\/p>\n NVIDIA is facing significant supply challenges with its next-gen Blackwell GB200 AI servers due to a component shortage and technical issues, expected to affect availability in Q4 2024. The servers are grappling with development hurdles such as leaks in their liquid cooling systems, prompting\u2026 <\/span>more<\/span><\/a><\/p>\n SEC Charges NovaTech in $650 Million Crypto Fraud Affecting Over 200K Investors Globally<\/span><\/a><\/p>\n The Securities and Exchange Commission (SEC) has charged NovaTech Ltd. and its founders, Cynthia and Eddy Petion, with conducting a $650 million cryptocurrency fraud that affected over 200,000 investors globally, particularly impacting the Haitian-American community. The scheme, which operated\u2026 <\/span>more<\/span><\/a><\/p>\n Snap shares plummet as weak outlook intensifies ad competition fears<\/span><\/a><\/p>\n Shares of Snap plunged 22% after the company predicted weaker-than-expected results for the third quarter, attributing the decline to reduced advertising demand, especially from consumer discretionary sectors. Analysts have expressed concerns about Snap’s ability to compete effectively in\u2026 <\/span>more<\/span><\/a><\/p>\n Attackers leverage Cloudflare tunnels to obscure malware distribution<\/span><\/a><\/p>\n Cybercriminals have been exploiting the TryCloudflare service to distribute malware through phishing campaigns, as reported by security firms Proofpoint and eSentire. TryCloudflare, a feature of Cloudflare, allows developers to expose web applications to the internet securely, but attackers have\u2026 <\/span>more<\/span><\/a><\/p>\n <\/p>\n Identify supplier risk in your network<\/a><\/p>\n Airline Safety Under Fire Amid Recent Incidents<\/span><\/a><\/p>\n The U.S. airline industry has faced increased scrutiny due to a series of safety incidents, including a door malfunction on an Alaska Airlines flight and wheel detachments on United Airlines flights. These events have prompted temporary groundings and rigorous FAA inspections, resulting in heightened\u2026 <\/span>more<\/span><\/a><\/p>\n Hyundai, Kia accused of selling owner data, leading to higher insurance premiums<\/span><\/a><\/p>\n A class action lawsuit has been filed against Hyundai and Kia in California, alleging that the companies have been sharing detailed vehicle data, including driving behaviors like “hard braking,” with insurance companies without owner consent. This sharing reportedly led to increased\u2026 <\/span>more<\/span><\/a><\/p>\n Millions of Tesla Vehicles Impacted by Recent Safety Recall<\/span><\/a><\/p>\n Tesla has issued a recall affecting nearly two million vehicles due to a glitch in the hood latch assembly. The models impacted are the Model 3, Model S, Model X, and Model Y spanning several model years. The technical issue prevents the car’s system from alerting drivers when\u2026 <\/span>more<\/span><\/a><\/p>\n Houthis assault another CMA CGM-operated ship<\/span><\/a><\/p>\n The container vessel Groton, operated by CMA CGM and chartered from Conbulk Shipmanagement, was targeted by Houthi missiles while sailing from Jebel Ali to Djibouti on August 3, 2023. The attack occurred shortly after the assassination of key figures from Hezbollah and Hamas, escalating\u2026 <\/span>more<\/span><\/a><\/p>\n London Train Strikes: August to November 2024 Dates and Lines Affected<\/span><\/a><\/p>\n Train drivers working for LNER in the UK have announced a series of strikes that will affect weekend travel from the end of August to November. The strikes, organized by Aslef, the drivers’ union, are in response to alleged “bullying” by bosses despite a recent government-mediated\u2026 <\/span>more<\/span><\/a><\/p>\n <\/p>\n Learn how a global shipping leader demystified their supply chain with Craft.<\/em><\/a><\/p>\n <\/p>\n <\/p>\n Identify supplier risk in your network<\/a><\/p>\n US slashes 10 patented drug costs sparking generics pricing concerns<\/span><\/a><\/p>\n The U.S. government, under the Inflation Reduction Act, will cut prices by at least 50% for 10 patented drugs covered by Medicare starting in 2026, impacting major pharmaceuticals like Johnson & Johnson and Eli Lilly. This move aims to ease costs for Medicare users but poses challenges for\u2026 <\/span>more<\/span><\/a><\/p>\n Johnson & Johnson Faces $634 Million Blow in Talc Lung Cancer Verdict<\/span><\/a><\/p>\n A South Carolina jury awarded $634 million in damages to a lung cancer patient who used Johnson & Johnson’s talcum powder, marking a significant verdict against the company. The verdict underscores ongoing concerns about asbestos in consumer products and could lead to\u2026 <\/span>more<\/span><\/a><\/p>\n Baxter International Notifies Consumers of June 2024 Data Breach<\/span><\/a><\/p>\n Baxter International, Inc. reported a data breach on August 8, 2024, after an unauthorized party accessed and downloaded sensitive information from the company\u2019s network. The breach was first noticed on June 10, 2024, prompting Baxter to enhance security measures and collaborate with\u2026 <\/span>more<\/span><\/a><\/p>\n $495 Million Verdict Against Abbott Laboratories Set to Shape NEC Baby Formula Litigation Nationwide<\/span><\/a><\/p>\n A recent $495 million verdict against Abbott Laboratories in a necrotizing enterocolitis (NEC) baby formula trial marks a critical point in litigation concerning baby formula safety. This follows a previous $60 million verdict against Mead Johnson, with both companies’ products linked to NEC in\u2026 <\/span>more<\/span><\/a><\/p>\n Bayer plans another round of Whippany layoffs<\/span><\/a><\/p>\n Bayer is conducting another round of layoffs at its U.S. headquarters in Whippany, continuing its companywide restructuring aimed at increasing operational efficiency. Significant managerial positions have been reduced as part of this strategy, which also includes a downsizing of\u2026 <\/span>more<\/span><\/a><\/p>\n <\/p>\n Get configurable alerts for the supplier risks that matter most to your supply chain? <\/span>Learn more about Supplier Risk Management from Craft.<\/a><\/p>\n <\/p>\n <\/p>\n Identify risky suppliers in your network<\/a><\/p>\n
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\n<\/span><\/a>Canadian National Railway Co. and Canadian Pacific Kansas City Ltd. are preparing for potential work stoppages by initiating embargoes on hazardous shipments, like chlorine and ammonia, due to stalled contract negotiations with their workers. The railways, which have threatened to lock out around\u2026 <\/span>more<\/span><\/a><\/p>\n
\n![\"\"](\"https:\/\/global.craft.co\/wp-content\/uploads\/2024\/07\/Craft-Industry-Icons-02-300x300.png\"){kind=icon}
<\/p>\nManufacturing<\/h2>\n
Industry Risk Overview for August<\/h4>\n
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Recent Manufacturing Risk Signals<\/h4>\n
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<\/p>\nFinancial Services<\/h2>\n
Industry Risk Overview for August<\/h4>\n
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Recent Financial Services Risk Signals<\/h4>\n
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<\/p>\nTechnology<\/h2>\n
Industry Risk Overview for August<\/h4>\n
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Recent Technology Risk Signals<\/h4>\n
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<\/strong><\/p>\nAutomotive & Transportation<\/h2>\n
Industry Risk Overview for August<\/h4>\n
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Recent Transport-Related Risk Signals<\/h4>\n
\n![\"\"](\"https:\/\/global.craft.co\/wp-content\/uploads\/2024\/07\/Craft-Industry-Icons-07-253x300.png\"){kind=icon}
<\/p>\nHealthcare<\/h2>\n
Industry Risk Overview for August<\/h4>\n
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Recent Healthcare Risk Signals<\/h4>\n
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<\/p>\nRetail<\/h2>\n
Industry Risk Overview for August<\/h4>\n
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Recent Retail Risk Signals<\/h4>\n