{"id":543237,"date":"2022-01-18T14:00:00","date_gmt":"2022-01-18T14:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/the-supply-chain-crisis-was-a-lucrative-headache-for-shipping-companies-the-uk-is-trying-out-the-four-day-work-week\/"},"modified":"2022-01-18T14:00:00","modified_gmt":"2022-01-18T14:00:00","slug":"the-supply-chain-crisis-was-a-lucrative-headache-for-shipping-companies-the-uk-is-trying-out-the-four-day-work-week","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/the-supply-chain-crisis-was-a-lucrative-headache-for-shipping-companies-the-uk-is-trying-out-the-four-day-work-week\/","title":{"rendered":"The supply chain crisis was a lucrative headache for shipping companies + The UK is trying out the four-day work week"},"content":{"rendered":"

<\/a> Who had a good outcome from the supply chain crisis? Shipping companies<\/strong>, who pocketed some USD 150 bn in net income last year. The spot rate to ship a 40-foot container from Asia to the US spiked to over USD 20k last year, a tenfold increase from the USD 2k it would\u2019ve cost a few years back, Bloomberg<\/a> writes. Long term contracts between carriers and shippers have risen over 200% over the last year, while bigger corporations can stomach the shipping increase and negotiate better prices, smaller exporters and importers are struggling.<\/p>\n

Higher shipping costs come with a risk of increasing inflation: <\/strong>A 15% increase in shipping costs leads to a 0.10 percentage point increase in core inflation in the US, said an economist with the Kansas City Fed, saying that increasing shipping costs are currently a persistent, not transient, issue.<\/p>\n

<\/a> Following the UAE\u2019s lead, the UK just initiated a four-day work week trial: <\/strong>More than 30 companies in the UK kicked off a six-month pilot program that will reduce the working week to four days, instead of five, the Independent<\/a> reports. The pilot will see employees work one day less, without any loss in pay for the participants, in a bid to shift to productivity-based work strategies. The UK\u2019s trial comes after the UAE government recently implemented a nationwide 4.5-day work week<\/a> for public sector employees that will also see them shift to a Monday-Friday schedule.<\/p>\n

How does meta plan to monetize the metaverse?<\/strong> So far, it looks like Facebook\u2019s parent company intends to utilize highly targeted advertising techniques and sponsored content to monetize the metaverse<\/a> \u2014 the immersive, avatar-dominated virtual world which many claim is the future of the internet \u2014 if hundreds of applications filed to the US Patent and Trademark Office are any indicator. The patents include plans for a \u201cvirtual store\u201d that would enable consumers to purchase digital commodities, or products that match real-life items which are endorsed by specific brands, the Financial Times<\/a> reports.<\/p>\n","protected":false},"excerpt":{"rendered":"

Who had a good outcome from the supply chain crisis? Shipping companies, who pocketed some USD 150 bn in net income last year. The spot rate to ship a 40-foot container from Asia to the US spiked to over USD 20k last year, a tenfold increase from the USD 2k it would\u2019ve cost a few […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[633,647,638,182,648,239,112],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543237","post","type-post","status-publish","format-standard","hentry","category-for-your-commute","tag-enterprisepm","tag-facebook","tag-for-your-commute","tag-inflation","tag-metaverse","tag-supply-chain","tag-uk","wpautop","entry"],"acf":{"mongo_id":"4b1725a3-8c35-41d7-aab3-8d34886361fb","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[543233],"teaser":"","voice_url":""},"yoast_head":"\nThe supply chain crisis was a lucrative headache for shipping companies + The UK is trying out the four-day work week - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/the-supply-chain-crisis-was-a-lucrative-headache-for-shipping-companies-the-uk-is-trying-out-the-four-day-work-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The supply chain crisis was a lucrative headache for shipping companies + The UK is trying out the four-day work week\" \/>\n<meta property=\"og:description\" content=\"Who had a good outcome from the supply chain crisis? 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The new variant has halted some production and transport in China, and impacted global\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/401.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557440,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/shipping-is-doing-its-bit-to-force-up-inflation-globally\/","url_meta":{"origin":543237,"position":2},"title":"Shipping is doing its bit to force up inflation globally","author":"enterpriseam admin","date":"19 September 2021","format":false,"excerpt":"A covid-induced surge in shipping costs is the latest flashpoint for inflation: With an increase in gas prices, a shortage of truck drivers, and a dearth of shipping containers, elevated freight costs globally are expected to continue into 2023, translating into higher price tags for everyday products, the Wall Street\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":583232,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/14\/owning-a-car-will-soon-become-a-sign-of-wealth-even-more-than-before-brace-for-further-price-hikes-in-the-us\/","url_meta":{"origin":543237,"position":3},"title":"Owning a car will soon become a sign of wealth (even more than before) + Brace for further price hikes in the US","author":"enterpriseam admin","date":"14 February 2023","format":false,"excerpt":"Global demand for cars is outstripping supply, and automakers want to keep it that way. 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