Oil futures were lower in mid-day trading today, with the WTI down 1.3% at $62.55/bbl and Brent 0.9% lower at $66.46/bbl. Natural gas was 0.9% lower at $2.73/MMBtu.
India is laying the groundwork for building many new coal-fired power plants, shunning increased global focus on environmental impacts of the fuel.
Texas, center of the U.S. oil industry, now leads the nation in renewable energy, which is driving a green jobs boom in the state.
Amazon is building its presence in the renewables industry, announcing nine new utility-scale projects, including a 350 MW wind farm off the coast of Scotland, making it the largest corporate buyer of renewable energy.
The International Energy Agency projects that global carbon emissions will increase 4.8% this year, the biggest increase since 2010, after falling during the pandemic.
Yesterday, Exxon proposed a $100 billion, publicly/privately financed project to capture carbon emissions from Gulf Coast petrochemicals plants and store them deep beneath the Gulf.
Building new semiconductor chip capacity could take years, while shorter-term fixes, including manufacturing changes and opening up spare capacity, are not expected to aid the world’s current chip shortage until next year at the earliest.
An index for freight market conditions in March posted an annual gain of 10% and a monthly gain of 4.1%, indicating favorable inventory levels and consumer trends.
Signs point to a “super-cycle” for the dry bulk market with demand increasing by up to 10.1% this year.
A global supply chain logjam has hit AGCO, one of the world’s largest farm machinery makers, just as farmer demand heats up amid rising grain prices and a nascent planting season in the Northern Hemisphere.
Harley-Davidson, one of the highest-profile casualties of recent U.S. trade disputes, is now facing an import tariff of 56% on products going to the EU.
Foxconn, the world’s largest electronics manufacturer, finally inked a scaled-back deal to start mass production at a Wisconsin plant mired in years of delay.
Canadian National Railway announced a $30 billion bid to acquire Kansas City Southern, a 21% premium over Canadian Pacific’s recent offer to acquire the company.
Logistics conditions remain strained, with trucking demand exceeding availability and continued congestion at ports due in part to operating challenges related to the pandemic. Clients are advised to provide expanded lead times on orders to help ensure delivery dates.
There were 67,933 new COVID-19 cases and 477 deaths in the U.S. yesterday. Over 211 million vaccine doses have been administered, with 23.7% of the population fully vaccinated.
Average daily COVID-19 cases are increasing in 36 states this week, with the national infection rate rising to 21.2 per 100,000 people from 19.8 last week. Young people who have not been vaccinated make up an increasing portion of infections, as more virulent variants accelerate the spread.
The four biggest U.S. banks used an unprecedented 15% gain in deposits last year primarily to increase their cash reserves and securities holdings rather than for funding new loans.
Procter & Gamble will raise prices on a variety of consumer goods in the fall due to rising raw material and logistics costs.
Facing heightened stakeholder pressure, Toyota shifted its climate stance, announcing a review of its lobbying and greater transparency on company-wide environmental goals. The company also set plans to produce 15 new electric vehicle models globally by 2025.
India posted a record 273,810 new COVID-19 cases on Monday, as officials opened the nation’s vaccine eligibility to everyone over age 18. New Delhi, the nation’s capital, is under a strict six-day lockdown, while vaccine manufacturer Bharat Biotech will increase its annual production of its COVID-19 shot to 700 million doses.
Frustrated with the pace of COVID-19 vaccine rollouts in the EU, Austria made the decision to only use Russia’s Sputnik V shot once it is approved by regulators.
After months of stalled COVID-19 vaccine rollouts, Australia expanded eligibility to those over age 50.
People who have had COVID-19 will be purposely reinfected with the virus as part of a British “challenge trial” examining immune responses.
In a reversal, China announced it will allow travel entry to those who have received COVID-19 vaccines from the U.S. after previously stating it would only allow entry to those who received Chinese vaccines.
China’s total population could begin falling in the next few years, spurred by a significant drop in newborns during the pandemic and an established policy limiting families to two children.
Profits at China’s state-owned enterprises tripled in the first quarter of 2021 to an all-time high for the period, a sign of strong economic recovery.
Japan’s economy showed signs of a quickened rebound with exports rising 16.1% in March from the year-ago period, led by a surge in China-bound shipments.
Brazil’s economy picked up steam just before a record-setting second wave of COVID-19, with a leading GDP index rising 1.7% in February, its 10th consecutive monthly rise.
Canada’s hot housing market is showing no signs of slowing, with housing starts rising 21.6% in March compared to the previous month, a record.
British economic activity is picking up, with an 87.8% jump in traffic at stores last week following the reopening of non-essential businesses. More than half of job losses in the country during the pandemic have been among those under 25 years of age.
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