MH Daily Bulletin: January 12

January 12, 2023 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • 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

Supply Chain

Where Container Shipping Is Flourishing
India's EV Growth Expected to Focus on 2W and 3W Markets

Domestic Markets

  • The U.S. reported 142,010 new COVID-19 infections and 1,673 virus fatalities Wednesday.
  • The U.S. government extended the nation’s COVID-19 state of emergency amid concerns about rapidly spreading cases of the XBB.1.5 variant. The move allows millions of Americans to continue receiving free tests, vaccines and treatments.
  • 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.
  • BlackRock, the world’s largest asset manager, plans to dismiss about 2.5% of its global workforce as it grapples with sharp declines in equity and bond markets.
  • 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.
  • More states are imposing bans on PFAS “forever chemicals”, with new laws taking effect this month in Maine, Vermont and Washington.

International Markets

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