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.
Supply
Oil rose 3% Wednesday as an improved global economic outlook outweighed a massive build in U.S. crude stocks, normally a sign of an oversupply.
In mid-morning trading today, WTI futures were up 1.1% at $78.28/bbl, Brent was up 1.3% at $83. and 77/bbl, and U.S. natural gas was up 5.8% at $3.8 8/MMBtu.
U.S. crude stocks surged by 19 million barrels in the first week of 2023 — the third-largest build on record — as refiners slowly restored production after Winter Storm Elliott, according to the administration.
Investment in climate tech by venture capital and private equity swelled to $59 billion in 2022, a 4% increase from 2021 led by electric-vehicle projects.
Chicago O’Hare’s key ground handling agents have agreed to terms allowing unions, averting the likelihood of significant air cargo disruption at the airport.
Freight forwarder Flexport said it would cut about 20% of its global workforce, or more than 600 workers, as the digital-focused business copes with falling shipping demand.
U.S. ports are projected to import 1.63 million TEUs next month, down about 14.7% from January’s projected imports and 23% behind the same month a year ago.
Southern California’s queue of containerships is down to zero after touching a record-high 109 ships at this time last year.
Chicago’s industrial real estate market saw all-time low vacancy rates of just 4.5% last year, while rents rose 14% and are poised to climb further in 2023.
A dispute panel ruled that Canada and Mexico won their challenge to the U.S. interpretation of content rules for cars under the new North American trade pact, a decision that favors parts makers north and south of the U.S. border.
New-vehicle inventory in the U.S. was up 81% toward the end of 2022, with almost 740,000 more vehicles available than in 2021, according to Cox Automotive.
Initial jobless claims decreased by 1,000 to a seasonally adjusted 205,000 last week, highlighting a continued tightness in the nation’s labor market.
Banking giant HSBC expects the Federal Reserve to hike its target interest rate for the last time at its Jan. 31-Feb. 1 monetary policy meeting, raising it by 50 basis points to a range of 4.75%-5%.
Goldman Sachs began laying off some 6.5% of its global workforce Wednesday, the most concrete example of a deep cost-cutting drive across Wall Street.
Dow Jones, a division of News Corp that includes the Wall Street Journal, started laying off employees Wednesday as part of a broader trend among news outlets.
Starbucks became the latest big firm to pull back work-from-home allowances offered during the pandemic.
Applications for U.S. home purchase loans fell 1% last week to their lowest level since 2014.
The World Health Organization expects that the highly infectious XBB.1.5 variant of COVID-19 is behind a surge of cases in several countries across the globe.
South Korea says nearly 80% of its imported cases of COVID-19 come from China.
Outbound flights from China jumped almost 200% in the first week after the nation reopened its borders but remained at about 15% of pre-pandemic levels.
The World Bank expects global GDP growth for the 2020-2024 period to fall under 2%, what would be the slowest five-year pace since 1960.
China’s industrial output likely grew 3.6% in 2022 despite production and logistics disruptions from COVID-19 curbs, officials said.
Retail sales in Brazil fell 0.6% in November, the biggest drop in five months.
Electrolux, Europe’s biggest appliance maker, reported a fourth-quarter loss, citing high costs and weak demand from both consumers and retailers, especially in North America.
Global sales of luxury fashion items could rise up to 8% this year thanks to China’s reopening and resilient demand in the U.S., analysts say.
Thousands of farmers are protesting in Spain over the government’s decision to ration water from a key river after the country suffered its hottest year on record in 2022.
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