M. Holland is the headline sponsor for AMI’s Thermoplastic Concentrates in Orlando on Jan. 24-26. Stop by Booth #16 to speak with our experts and attend a talk on regulatory compliance changes by Christopher Thelen, M. Holland’s Senior Regulatory Specialist, on Jan. 24 at 4:20 pm.
M. Holland will be exhibiting at MD&M West in Anaheim on Feb. 7-9. Stop by Booth #4115 to meet our Healthcare team and discuss how M. Holland’s line of medical-grade resins can help you develop safe and effective medical products and packaging.
The U.S. Inflation Reduction Act (IRA) includes nearly $500 billion in new spending and tax breaks that will catalyze the clean energy transition, increase tax revenues and reduce healthcare costs. Dwight Morgan, Executive Vice President of Corporate Development at M. Holland, recently provided insight on what the IRA includes and key considerations for the plastics industry. Click here to read the full post.
Supply
Oil rose 1% Monday as China’s borders opening boosted the outlook for fuel demand.
In mid-morning trading today, WTI futures were down 0.2% at $74.47/bbl, Brent was down 0.3% at $49.41/bbl, and U.S. natural gas was down 8.0% at $3.60/MMBtu.
The average U.S. gasoline price hit $3.25 per gallon this week, the second weekly gain on impacts from refinery closures during Winter Storm Elliott.
Frontline terminated plans to combine with Euronav in a deal that would have created the world’s largest publicly-listed oil tanker owner and operator with a market capitalization of more than $6 billion and 146 vessels.
U.S. regulators are weighing a ban on natural gas stoves, which are used in about 40% of homes, following new research suggesting the appliances emit health-threatening air pollutants.
Europe’s recent ban on seaborne crude imports from Russia is believed to be behind a sharp drop in prices for Russia’s flagship oil, which now trades at around $37.70/bbl, well below the $60/bbl price cap imposed by G7 nations.
Insured losses from global natural disasters hit about $120 billion last year, with about half coming from Hurricane Ian’s September landing in Florida.
Significant air cargo disruption at Chicago O’Hare was temporarily averted after cargo service provider Alliance Ground International agreed to terms allowing unions. Swissport, another major cargo handler, has yet to comply with a city mandate requiring cargo contractors to allow organizing efforts to keep their operating licenses.
The U.S. trucking industry added 2,100 jobs in December, while warehouse jobs declined but at a slower pace than in recent months, according to the latest jobs data.
Container spot rates from Asia to the U.S. have tumbled over 80% since September peaks of around $20,000 per FEU, according to Freightos. Major retailers won’t see significant relief until the spring contract renegotiation season, however.
Container imports into major U.S. ports have fallen below the 2-million-TEU-per-month mark, signaling an end to container shipping’s pandemic-driven surge, the National Retail Federation says.
Walmart surpassed 6,000 drone deliveries last year, with the service now extended to 36 stores in seven states.
Apple’s push to replace purchased computer chips with homegrown components will include dropping a key Broadcom part in 2025, dealing a blow to one of its biggest suppliers.
Johnson & Johnson says it is looking for merger opportunities as it works to spin off its consumer healthcare business to focus on pharmaceuticals and medical devices.
Helen of Troy, owner of popular brands including Hydro Flask, Drybar and Vicks, saw third-quarter sales fall 10.6% as well-stocked retail customers dropped orders.
Investor morale in the euro zone picked up for a third straight month in January but remained in negative territory, signaling persistent concerns about the global economic situation, according to surveys.
Euro zone unemployment was unchanged at a record-low 6.5% in November, in line with expectations.
Four out of ten German companies expect business to shrink this year due to high energy costs and supply-chain issues, according to a new survey.
Mexico’s headline inflation hit 7.82% in December, up slightly from the previous month. Core inflation, stripping out food and energy, dropped for the first time in almost two years.
Inflation in Tokyo rose a faster-than-expected 4% in December, exceeding the central bank’s target for a seventh straight month in a sign of broadening inflationary pressure.
Chile, the world’s top copper producer, saw exports of the metal fall 13.2% to a total of $4.28 billion in December.
Global cuts in the use of chlorofluorocarbons and related chemicals are succeeding in restoring the earth’s protective ozone layer, which is expected to return to 1980 health by 2040.
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