After dipping below $40/bbl yesterday, the WTI crude price was up in early trading at $39.64/bbl, while Brent was modestly lower at $40.81/bbl. Natural gas was lower at $2.54/MMBtu.
Royal Dutch Shell plans to lay off up to 9,000 employees by the end of 2022 as it transitions to alternative energy sources.
Total joined BP in forecasting the world is near “peak oil,” predicting that industry expansion will end by 2030 despite long-term growth in energy demand.
NextEra Energy was rebuffed in an approach to acquire Duke Energy, which would create a $200 billion behemoth electrical utility in the Southeast.
Supply Chain
Wildfires claimed Napa Valley’s Restaurant at Meadowood, a Michelin three-star restaurant, and several refineries. An erratic jet stream promises more hot weather in the Western U.S. for the next week.
Amazon is introducing Amazon One, allowing users to link their credit cards with their palm and make payments with a sweep of their hand at Amazon stores.
Injuries at Amazon’s robot-equipped warehouses are higher than at those without robots.
Trucking capacity remains tight throughout the U.S., and spot pricing remains elevated.
Clients are advised to provide expanded lead times on orders to help ensure delivery dates will be met.
Markets
COVID-19 infections in the U.S. jumped to 42,185 yesterday, while deaths more than doubled to 914 from Monday.
COVID-19 infections in 31 states are trending higher this week.
North Dakota’s per capita infection rate is as high as Florida’s at the peak of its surge as COVID-19 cases rise in the Midwest.
The CDC urged colleges to take greater measures to protect students amidst growing infection rates on campuses throughout the country.
U.S. GDP shrank at a 31.5% annualized rate in the second quarter, with the leisure and restaurant sectors suffering the worst.
The Conference Board’s index of consumer confidence rose from 86.3 in August to 101.8 in September, the highest level during the pandemic.
Disney will lay off 28,000 workers, mostly part-time employees, at its U.S. theme parks.
ADP reported that private employers added 749,000 jobs in September, but private employment remains 10 million below pre-pandemic levels.
One in four women is considering withdrawing from the workforce or downshifting their jobs because of the pandemic, according to a McKinsey/LeanIn study, with most citing burnout as the cause.
The average price of a new car hit a record $35,655 in September as sales increased to a 15.7 million annualized pace.
A moratorium on job cuts in the airline industry expires today, leaving tens of thousands of airline workers facing imminent layoff.
Regeneron reported promising early tests of its COVID-19 therapeutic cocktail in treating non-hospitalized patients.
The Treasury Department said it has loaned billions of dollars to seven airlines under a previously approved $25 billion relief fund — Alaska Airlines, American Airlines, Frontier Airlines, JetBlue Airways, Hawaiian Airlines, SkyWest Airlines and United Airlines.
More than 10,000 retail stores have been permanently shuttered through August, a record, and 29 retailers have filed for bankruptcy this year, a pace rivaling 2010 when there were a record 48 retail failures.
Home prices nationally rose 4.8% in July year over year.
Spice maker McCormick said it expects home cooking trends to continue as it reported a 26% jump in consumer sales in the second quarter.
A virtual commute feature is among new functions being added to the Microsoft Teams videoconferencing tool to assist users in marshaling their time.
A survey of international business executives finds that a majority believe the pandemic has permanently changed their business models, with 60% indicating they have accelerated their digital transformations.
The trade show industry is expected to take years to recover from the pandemic:
Dick’s Sporting Goods will collaborate with the Closed Loop Partners’ Center for the Circular Economy and the Consortium to Reinvent the Retail Bag in order to eliminate single-use plastic bags by 2025.
The NFL has postponed Sunday’s scheduled game between the Tennessee Titans and Pittsburgh Steelers after several Titans players tested positive for COVID-19.
International
German retail sales rose a higher-than-expected 3.7% year over year, fueled by record government stimulus earlier during the pandemic.
The U.K. COVID-19 infection rate hit a record high yesterday:
Canada’s seven-day average infection rate jumped 29% in the past week as daily infections approached peak levels in April, prompting a return to lockdowns and social distancing restrictions in some areas.
Canada’s GDP rose 3% in July and 1% in August, raising economic activity to within 5% of pre-pandemic levels.
The International Monetary Fund warned Spain that its economic recovery is in peril due to the second COVID-19 wave affecting the country.
Becton Dickinson received approval for the use of its rapid COVID-19 test in Europe, which can return results in 15 minutes.
Novartis AG’s CEO predicted that a vaccine will not be widely available until the end of next year and that therapeutics will be necessary to taming COVID-19. Results of the large-scale study of the company’s anti-inflammation treatment is due in October or November.
Our Operations
To access 3D Printing training, order parts and seek technical assistance, visit our new online resource.
Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets. To arrange a videoconference or meeting with any of our Market Managers, please visit our website.
Thank you,
M. Holland Company
We will provide further COVID-19 bulletins as circumstances dictate. For all COVID-19 updates and notices, please refer to the M. Holland website.
We and selected third-parties use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL third-party cookies. For more details about cookies and how we use them, read the full Data Privacy Policy.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience. For more details about cookies and how we use them, read the full Data Privacy Policy.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-advertisement
1 year
Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Cookie
Duration
Description
__cf_bm
30 minutes
This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
bcookie
1 year
LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID.
bscookie
1 year
LinkedIn sets this cookie to store performed actions on the website.
lang
session
LinkedIn sets this cookie to remember a user's language setting.
lidc
1 day
LinkedIn sets the lidc cookie to facilitate data center selection.
UserMatchHistory
1 month
LinkedIn sets this cookie for LinkedIn Ads ID syncing.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Cookie
Duration
Description
_ga
2 years
The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_ga_S6SF7JZ2WY
2 years
This cookie is installed by Google Analytics.
_gat_UA-7828007-1
1 minute
A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. The pattern element in the name contains the unique identity number of the account or website it relates to.
_gcl_au
3 months
Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services.
_gid
1 day
Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT
2 years
YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
vuid
2 years
Vimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Cookie
Duration
Description
_fbp
3 months
This cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website.
fr
3 months
Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
IDE
1 year 24 days
Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile.
personalization_id
2 years
Twitter sets this cookie to integrate and share features for social media and also store information about how the user uses the website, for tracking and targeting.
test_cookie
15 minutes
The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE
5 months 27 days
A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSC
session
YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devices
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-id
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt.innertube::nextId
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requests
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.