With global supply chains ensnared by bottlenecks, Mondelez International ($87 Billion in market cap.) expects next year to be nearly as bad as the current one. "I think when we look at supply chains across the world, there are inflationary pressures that are mostly due to the fact that there are several bottlenecks in supply chains that are globally interlinked," "I expect this to continue into 2022, for the entire 2022," the executive added. "I think the holiday season ahead of us will put even more strains on global supply chains." He also warned that some product prices could rise in the face of global inflationary headwinds. http://a.msn.com/00/en-us/AAQoDla?ocid=st

Ireland- More than half of large Irish companies have been targeted by a cyberattack in the last 12 months, according to the latest State of Cyber-Resilience research.The study, carried out by Accenture, found 58 per cent of large Irish companies have been the victim of a recent attempted cyberattack, while 85 per cent say the cost of trying to stay ahead of attackers is "unsustainable". https://www.breakingnews.ie/ireland/over-50-of-large-irish-companies-targeted-by-cyberattack-in-last-12-months-survey-1210212.html

A tight supply of stock and strong international demand have caused wheat prices in the international market to rise to their highest since 2012. To add to the pressure, Russia, one of Egypt's most important suppliers, has imposed taxes on wheat exports. The latest price is also about $80 higher than what was projected in the government's budget for the fiscal year 2020/2021. https://www.middleeasteye.net/news/egypt-millions-vulnerable-rise-global-wheat-prices-climate-change

The Bank of China has shown a machine that converts foreign currencies into digital yuan. The machine is likely in preparation for the 2022 Beijing Winter Olympics, when the central bank digital currency (CBDC) is set to be introduced to the rest of the world. Users need to link their passports to the transaction, but don’t need a bank account, https://sports.yahoo.com/bank-china-reveals-machine-converts-101909988.html

Bitcoin neared a record high and ethereum reached a fresh all-time peak on Monday amid continued fears about inflation. “The recent surge in the crypto asset partly seems to have been caused by investors piling in, seeing it as a hedge against inflation,”. “Some appear to have been enticed by the argument that the huge monetary stimulus programmes unleashed by central bank is fuelling inflation which will see the value of money decrease over time, https://finance.yahoo.com/news/ethereum-hits-high-bitcoin-nears-130845652.html

Argentine grains exporters have asked the government to identify farmers who are growing drought-resistant genetically modified (GM) wheat, so they can halt sales from those areas until top importer Brazil approves the technology. Exporters say if any GM wheat is shipped from Argentina, all international sales of the grain may be shunned due to concern about possible cross-contamination from GM to non-GM cargos, given some consumers' aversion to bread made with GM flour. https://www.esmmagazine.com/supply-chain/argentine-exporters-vow-safeguards-to-keep-gm-wheat-out-of-shipments-152767

The Swiss National Bank (SNB) says it will technically be ready to launch a wholesale central bank digital currency (wCBDC) in January of next year, using Switzerland’s newly-licensed Six Digital Exchange (SDX).
While it’s the retail-facing version of a CBDC that tends to grab most attention, the argument for wCBDC, designed to clear and settle wholesale payments, is compelling and less complicated to deploy in most cases. https://finance.yahoo.com/news/swiss-central-bank-ready-run-115930569.html

Vasinskyi is charged with breaking into the victim companies and installing encryption software, developed by the core REvil group. REvil directly handled the ransom negotiations and split the profits with affiliates like Vasinskyi. This model allowed the notorious ransomware gang to extort numerous companies for cryptocurrency. https://www.reuters.com/technology/us-seizes-6-mln-ransom-payments-charge-ukrainian-over-cyberattack-cnn-2021-11-08/

The pace of wholesale inflation over the past 12 months was flat at 8.6%. That’s the highest level since the index was reconfigured in 2009, and likely one of the highest readings since the early 1980s. The yearly pace of inflation using the Federal Reserve’s preferred PCE price gauge just hit a 30-year high of 4.4%. The wholesale cost of energy jumped 4.8% in October, mostly reflecting higher gasoline prices. https://www.msn.com/en-us/money/markets/wholesale-prices-surge-again-and-offer-americans-no-relief-from-high-inflation/ar-AAQuSLD

China - A government notice issued last Monday advising households to stock up on daily necessities and a snow forecast reinforced the rush this year, with long early morning queues forming outside supermarkets in downtown Beijing. “Every year at this time the [cabbage] sales volume is high. But after the report came out, everyone rushed to buy even more,” https://www.scmp.com/economy/china-economy/article/3155274/china-food-security-beijing-residents-stock-cabbages-winter

US- California’s exceptional drought and new restrictions on groundwater pumping are forcing them to do what was unthinkable until just a few years ago: uproot tens of thousands of fruit and nut trees and leave the land barren. Farmers are being forced to fallow — a term for plowing land and leaving it unplanted — their fields and orchards in unprecedented numbers due to the water shortage by droughts which are becoming longer and more severe; and the state has begun to implement the Sustainable Groundwater Management Act, new restrictions designed to stop growers and other users from depleting aquifers. https://www.sfchronicle.com/politics/article/To-fight-off-a-California-dust-bowl-the-state-16596612.php

UK- The Bank of England and the Treasury are to launch a formal consultation on a UK central bank digital currency. This evaluation of the design and possible benefits a new kind of digital money is a further step towards its possible creation. A technical specification would follow the consultation explaining the proposed conceptual architecture for any CBDC. "This could involve in-depth testing of the optimal design for, and feasibility of, a UK CBDC," https://www.yahoo.com/now/bank-england-takes-next-steps-184848753.html

Deere & Co. customers are facing weeks-long delays for parts orders as a strike at the world’s biggest farm-equipment maker continues. Parts and components that U.S. farmers need to keep combines running in the busiest farming season of the year are taking as many as three weeks to reach customer hands -- an eternity when fields need to be quickly harvested to stay ahead of wintry weather, according to dealers and customers in the industry. https://www.bloomberg.com/news/articles/2021-11-05/the-deere-strike-is-starting-to-ripple-across-supply-chains

Robinhood Markets (NASDAQ:HOOD) has said that the personal information of about seven million people, roughly a third of its customers, was compromised in a cyberattack last week. The hacker obtained email addresses of about five million people as well as full names for a separate group of about two million people, https://menafn.com/1103131069/Robinhood-Says-Seven-Million-Brokerage-Accounts-Impacted-By-Cyberattack

USA - Milk distribution was in disarray in Wisconsin this week as one of the state’s larger milk processors, Schreiber Foods, was victimized by hackers demanding a rumored $2.5 million ransom to unlock their computer systems. “Schreiber is one of the nation’s big marketers of dairy products, including cheese and yogurt and their supply chain extends back to many Wisconsin cheese plants. “It’s a lose, lose, lose scenario – the farmer, the cooperative, the cheese plant and other companies that buy ingredients from Schreiber,” he said. “Maybe it’s more like four or five ‘loses’ in that equation.” https://www.wisfarmer.com/story/news/2021/10/26/schreiber-foods-hit-cyberattack-plants-closed/8558252002/

Consumers and businesses in the Asia Pacific region can now apply for bitcoin-linked Mastercard credit, debit, and prepaid cards. The card giant partnered with cryptocurrency service providers Amber, Bitkub, and CoinJar to enable customers to pay for regular purchases with BTC. On the backend, cryptocurrency in the user’s account is instantly converted into fiat currency to allow the payment. https://bitcoinmagazine.com/business/mastercard-launches-bitcoin-payment-cards-in-asia-pacific

Legislation including the Civil Code, Tax Code, Budgetary Code, Criminal Code, and Administrative Code, must be amended for the establishment of the digital ruble. Alexey Minaev, deputy director of the development department of the digital economy of the Ministry of Economy, said: “At the very least, it must be said that it will be possible to pay with a digital ruble, unlike conventional digital currencies.”
The Central Bank of Russia, which announced that 12 banks would be involved in the pilot trial and a roadmap will be developed following the results of the trial. https://finance.yahoo.com/news/russia-begin-digital-ruble-platform-164308593.html

Wheat climbed from Minneapolis to Paris after a Russian official suggested the country could raise grain-export taxes if prices surged, adding to concerns about an already tight global market. Russia could revise the formula behind its floating grain-export tax if there is a significant increase in global prices, Agriculture Minister Dmitry Patrushev said at a government meeting Wednesday. The tax has been in place since mid-year in an effort to slow sales abroad and cool domestic food inflation. Russia also plans to set a grain-export quota again in the first half of next year, he said. https://www.bloomberg.com/news/articles/2021-11-10/wheat-jumps-as-russia-tax-comments-add-fuel-to-a-jittery-market

The London Metal Exchange is considering whether it should sometimes block traders from withdrawing inventory from its warehouses, in order to guard against running out of metal entirely. Such a move would mark a significant shift in philosophy for the 144-year-old LME, which has long trumpeted its role as a “market of last resort” -- into which producers can deliver unwanted metal in times of glut, and to which consumers can turn for supplies in times of scarcity. https://finance.yahoo.com/news/copper-chaos-lme-mulls-rules-193313183.html

Wheat prices climbed above $8 a bushel for the first time in nearly nine years, with demand for the commodity going strong and supplies expected to end the 2021-2022 marketing year at their lowest in more than a decade. “Global demand remains robust at record, or near-record, levels, with foreign buyers aggressively purchasing wheat supplies during the past several weeks,” https://www.barrons.com/articles/higher-wheat-prices-lead-to-rising-bread-costs-51636626601

The Kremlin said on Friday that Belarusian leader Alexander Lukashenko had not consulted Moscow before raising the possibility of cutting natural gas flows to Europe, and that Russia was a reliable exporter that fulfilled its obligations. https://news.yahoo.com/kremlin-says-lukashenko-did-not-104429136.html