Markets today: McDonald’s milk shortage, Virgin Orbit’s Spac deal

  • Milkshake no longer on McDonald’s menu as UK grapples with supply chain issues
  • Richard Branson’s Virgin Orbit is the next space company to go public

Post-Brexit logistics crisis hits McDonald’s

Mcdonalds (US: MCD) has no milk.

In a statement this morning, the fast food giant warned that its popular milkshakes and bottled drinks would be temporarily unavailable at all of its some 1,300 restaurants across the UK. The guilty? ‘Supply chain issues’ as the country grapples with a severe staff shortage after Brexit.

It comes less than a week after restaurant chain Nando’s announced it had been forced to close 50 establishments, after encountering similar problems obtaining chicken supplies.

The disruption of two of the country’s most popular food chains are just a few of the most high-profile signs that the UK’s supply chain is unraveling around the edges, after the issues were largely obscured to the public by the Covid economic crisis.

The British Poultry Council has reportedly warned that staff shortages have forced chicken farmers to cut their weekly supply by up to 10 percent, while other trade bodies have estimated the UK is running short of around 90,000 drivers heavy goods vehicles delivering items such as milk. EU workers have typically made up a large part of truck drivers and chicken production staff.

Last October, Investors’ Chronicle revealed that a government-backed program had trained less than 1% of the estimated 50,000 border officials needed to keep good trade going after Brexit.

Branson’s Virgin Orbit prepares for Spac takeoff

In the investment communities of Twitter (US: TWTR) and Reddit, hopeful shareholders often say their favorite stocks are going “to the moon.”

Now another soon to be publicly traded company is planning to do just that.

Richard Branson’s Virgin Orbit, a spin-off of his space tourism business Galactic Virgo (US: SPCE), went public through a merger with a special purpose acquisition company, it was announced today. American aviation giant Boeing (US: BA) will invest in the deal that values ​​Branson’s business at more than $ 3 billion (£ 2.2 billion).

The public debut of Virgin Orbit, which offers small satellite launches, will come shortly after Branson flew to the edge of space in a Virgin Galactic plane in July, narrowly beating Jeff Bezos in the suborbital space race of the multi-billionaires. But does the flight of private enterprise into space represent more than a simple ego journey for the richest men in the world? Some of our recent articles address this question.

Read more:

Take off: why a new, more investable space race could add stardust to portfolios

Is Netflix a space exploration company?

Touching the face of God: the mixed craze for space among aerospace and defense companies

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