M. Holland has launched a new Healthcare Packaging line card to help manufacturers solve industry challenges and meet regulatory and supply chain demands.
M. Holland’s 3D Printing group offers a rapid response alternative for producing selected parts where resin availability is tight. For more information, email our 3D Printing team.
Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.
Supply
Libya lifted force majeure and will resume some crude exports today following a weeks-long leadership shakeup at state-owned National Oil Company.
Saudi officials say the nation is unable to boost production due to a lack of refining capacity rather than crude shortages.
More oil news related to the war in Europe:
The EU announced a new plan to conserve energy, calling for member nations to cut natural gas use by 15% starting in August to save supplies for winter.
Moscow says Russia will fulfill its commitments to supply natural gas to Europe but warned that flows via the Nord Stream pipeline could be curbed to just 20% next week if sanctions prevent additional maintenance on its components. Before maintenance, gas was flowing at about 40% of the pipeline’s capacity.
Leaders of Germany’s massive chemicals industry say dwindling supplies of gas could force some firms to shut down in the coming months.
Container operations at the Port of Oakland ground to a near halt Tuesday as truckers protested a new California law that toughens rules for non-employee drivers.
Labor activism is roiling British industries, with over 115,000 postal workers at the Royal Mail service voting to strike Tuesday and hundreds of dockworkers at a large port in Liverpool also threatening to strike.
Hasbro overcame high costs and freight expenses to post an 18% rise in second-quarter operating margins, while inventories surged 73% as the toy-maker built up holiday supplies early.
Parts shortages will delay normal shipments of Pratt & Whitney engines to Airbus until early next year, the engine-maker said.
GlobalFoundries’ plan to build a computer chip factory in upstate New York could fall through if lawmakers fail to pass a $52 billion bill spurring domestic production. In a sign of progress, the Senate agreed to debate the bill on Tuesday.
Japanese farming and construction-equipment-maker Kubota plans to spend $2 billion to build new factories in the U.S. and India as it works to shift production overseas.
In the latest news from the auto industry:
Thousands of Hyundai workers in South Korea approved a new wage deal Tuesday, avoiding potential strike action.
Volvo’s share of pure electric and hybrid vehicle sales rose sharply to 31% of total sales in the second quarter, even as overall unit sales fell by more than a quarter due to production and supply chain issues.
PepsiCo committed to spend $400 million annually on diverse supplier contracts.
The mining sector’s drive toward automation could be worsening a skilled labor shortage that has already prevented large companies from running their most technologically advanced mines.
Harvests in Romania, Europe’s biggest corn exporter, could slump substantially this year due to drought conditions, officials say.
Domestic Markets
The U.S. reported 123,639 new COVID-19 infections and 352 virus fatalities Tuesday.
The fast-spreading BA.5 subvariant of Omicron now accounts for nearly 80% of all COVID-19 variants in the U.S., the CDC says.
Home sales in California fell 21% in June from a year ago as higher mortgage rates hit demand.
U.S. cities that saw the largest influx of new residents over the course of the pandemic now have the highest inflation rates of over 10%, online seller Redfin says.
Miami-based private equity firm 777 Partners agreed to buy 30 more Boeing 737 MAX jets as it expands its low-cost airline plans.
Johnson & Johnson reported a profit decline in the latest quarter and lowered its full-year guidance, citing rising costs.
Netflix reported its second straight quarter of subscriber losses for the first time in company history Tuesday. The firm has lost about two-thirds of its market value year-to-date.
International Markets
China posted 906 new COVID-19 cases Tuesday, a two-month high, with more than half the tally coming from the nation’s least developed regions. The northern port city of Tianjin shut some businesses and schools after 11 COVID-19 cases were reported.
Europe is adding dozens more firms and people to its list of sanctions on Moscow, including Russia’s top lender Sberbank. Officials will also amend some sanctions in a bid to free up food and fertilizer shipments.
The U.K.’s annual rate of inflation rose to a four-decade high of 9.4% in June, the fastest rise in prices for a G7 economy of the pandemic.
The European Central Bank is expected to unveil its first interest-rate increase in more than a decade today, which economists say will be more modest than recent hikes in the U.S., Canada and Britain.
Some Canadian businesses are reconsidering expansion plans following the central bank’s surprise full-percentage-point interest-rate hike last week.
Mexican inflation likely remained at 20-year highs above 8% in the first half of July, economists say.