M. Holland will be charging a fee to recover the reinstated Superfund Excise Tax for applicable U.S. orders starting July 1, 2022. Clients will be notified of details this week. Learn more about the tax in this Plastics News article.
M. Holland is sponsoring AMI’s Polymers in Cables on June 28-29 in Philadelphia, Pennsylvania. This conference covers the latest technical developments, manufacturing solutions and trends in the wire and cable industry. M. Holland is also hosting the event’s networking reception on June 28 at 5:30 pm ET!
If you’re attending AMI’s Polymers in Cables in Philadelphia, mark your schedule for M. Holland’s technical session:
Sri Lanka’s crippling fuel crisis came to a head, with officials shutting schools and limiting fuel supplies to essential services, including health and public transport, for the next two weeks. New data shows the island’s economy shrank 1.6% last quarter.
The UAE is emerging as one of the world’s biggest state financiers of green energy, committing over $400 million to help developing nations transition and pledging to raise $4 billion for cleaner agriculture operations.
Inbound containers awaited rail transport at Southern California ports an average of 11.3 days in May, the longest in almost a year.
Container shipping lines doubled first-quarter operating profits from last year to $43.9 billion, according to Sea-Intelligence.
Quarterly sales at Nike were roughly flat despite a 5% decline in North America and a 19% decline in China. The firm’s forecast was downbeat after inventories rose 23% at the end of May with more products stuck in transit.
Shipping delays are expanding the divide between Old Navy’s available inventory and current consumer preferences, the firm said.
U.S. durable goods orders rose 0.7% in May, driven mostly by rising sales for cars, computers and military aircraft. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose a respectable 0.5%.
Russian exporters boosted shipments of a key steelmaking ingredient by 30% in March from the previous month, suggesting discounts are superseding pledges by European firms to stop sourcing from Russia.
The slowdown in the U.S. housing market is affecting Asian supply chain data, with orders from American importers for Chinese manufactured goods down 20%-30%.