Welcome to the latest edition of The Risk Savvy Report, your go-to source for the latest insights on global supply chain trends to keep you informed and ahead of the curve. As we look back on 2024, we highlight risk signals for December 16 – 31 across cybersecurity, weather disruptions, financial stability, labor challenges, ESG compliance, transportation disruptions, legal matters, geopolitical developments, and mergers and acquisitions.
Subscribe to our newsletter for updates.
Cybersecurity
Treasury Department says state-linked hacker gained access to unclassified data in major attack
The U.S. Treasury Department reported that a state-linked hacker gained access to unclassified data in a significant cyberattack, raising concerns about the security of governmental information systems.
Microsoft faces FTC scrutiny over alleged antitrust practices in federal cybersecurity deals
Microsoft is under investigation by the Federal Trade Commission for alleged antitrust practices related to federal cybersecurity contracts, potentially impacting its future dealings in the public sector.
Google And Microsoft Users Warned As New 2FA Bypass Attacks Reported
Users of Google and Microsoft services have been warned about new two-factor authentication bypass attacks, emphasizing the need for enhanced security measures.
This devious two-step phishing campaign uses Microsoft tools to bypass email security
A sophisticated two-step phishing campaign utilizing Microsoft tools has been identified, successfully bypassing traditional email security protocols and highlighting the evolving nature of cyber threats.
Identify high-risk suppliers in your supply chain. Learn about supplier intelligence with Craft.
Labor Strikes & Workforce
Amazon Workers Go On Strike, Protest In 20 Nations, Including US
Amazon workers in 20 countries, including the US, United Kingdom, Germany, Japan, India, and Brazil, went on strike during a busy holiday shopping weekend to “hold Amazon accountable for labor abuses, environmental degradation and threats to democracy.”
The Tokyo metropolitan government plans to implement a four-day work week for its employees starting in April 2025, aiming to provide more family time and boost declining birth rates. The initiative reflects a broader effort to address demographic challenges and improve work-life balance in Japan.
Drayage Truckers Face Freight Surge as Imports Rise Due to Threats of Tariffs and Dockworker Strike
The threat of new tariffs and a possible port strike has led to a sudden increase in container freight as companies rush to move goods before disruptions occur. This preemptive shipping surge reflects the industry’s efforts to mitigate potential supply chain delays and higher costs.
Craft’s platform can help you monitor your supplier network to understand supplier risk and stay ahead of disruption. Contact our team to take a risk assessment.
Weather Disruptions
Fire-Friendly Weather Predicted for Parts of the High Plains and Southern California
Meteorologists predict weather conducive to wildfires in parts of the High Plains and Southern California, prompting alerts for potential natural disasters.
Peru’s coastline has been battered by tsunami-like waves, occurring just one day after the country declared an environmental emergency, amplifying concerns over climate-related disruptions.
Hurricane Helene to Typhoon Yagi: Worst climate disasters of 2024 that caused billions in damage
From Hurricane Helene to Typhoon Yagi, 2024 witnessed severe climate disasters causing billions in damages, highlighting the financial and infrastructural risks posed by extreme weather events.
ESG & Forced Labor
Stellantis Pays Up $4.2 Million To Make California Diesel Cheating Scandal To Go Away
Stellantis has agreed to pay $4.2 million to settle the California diesel cheating scandal, reflecting the financial and reputational risks associated with environmental non-compliance.
Supply Chain & Transportation
Container freight rates out of India continue to weaken amid persistent demand woes
Container freight rates from India have continued to decline due to ongoing challenges in export demand growth, indicating further challenges in the global shipping industry.
Car ferry sailing cancelled amid ‘issue’ with ship’s sewage system
A car ferry sailing from East Cowes to Southampton was canceled due to an ongoing issue with the ship’s sewage system, demonstrating how technical problems can disrupt transportation services.
From Amazon warehouse to port strikes, shippers and the DOT are preparing for an unpredictable 2025
In anticipation of an unpredictable 2025, shippers and the Department of Transportation are preparing for potential disruptions, including those stemming from Amazon warehouse operations and port strikes.
Apple claims it told suppliers earlier this year to stop buying its minerals from DRC
Apple has reportedly instructed its suppliers to cease purchasing minerals from the Democratic Republic of Congo earlier this year, highlighting the company’s efforts to address ethical sourcing concerns.
Get configurable alerts for the supplier risks that matter most to your supply chain? Learn more about Supplier Risk Management from Craft.
Legal
Apple Moves to Fight US Effort to Upend Search Deals With Google
Apple is moving to contest U.S. government efforts to disrupt its search agreements with Google, which could have significant legal and financial implications for both tech giants.
Japan accuses Google of violating antimonopoly law
The Japanese government has accused Google of violating antimonopoly laws, adding to the global scrutiny faced by the company over its business practices.
Bankruptcy & Financial Risk
Amazon investigates staff bribery claims
Amazon has launched an internal investigation into allegations of staff bribery, which could have significant implications for its operational integrity and financial standing.
The Biggest Bankruptcies of 2024
The year 2024 has seen some of the largest corporate bankruptcies, reflecting underlying vulnerabilities in various industries and the broader economy.
Bring it on: EU ready to slap US with tariffs over Airbus-Boeing row
The European Union is prepared to impose tariffs on the United States over the ongoing Airbus-Boeing dispute, signaling potential financial risks for companies involved in transatlantic trade.
Geopolitical
U.S. Blacklists China’s Sophgo Amid Huawei AI Chip Scandal
The United States has blacklisted Chinese company Sophgo amid the Huawei AI chip scandal, reflecting ongoing geopolitical tensions and their impact on international business relations.
Learn how to understand the financial risks of your suppliers.
Mergers & Acquisitions
Nissan’s recent decision has cast doubt on the future of its Sunderland car factory, while Stellantis is considering job cuts in Luton, indicating potential shifts in the automotive industry’s landscape.
We hope these insights have enhanced your understanding of supplier risk in the global supply chain, making you evermore risk savvy.
Subscribe to our newsletter for more insights.