M. Holland announced a new partnership with Lavergne, a global manufacturer specializing in the formulation of customized compounded engineered resins, to distribute PCR resins for customers in North America. Click here to read the press release.
Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.
Oil settled 2.3% lower Friday as banking sector fears caused both benchmarks to reach their biggest weekly declines in months.
Crude prices continued to fall to start the week despite aggressive central bank intervention to calm financial markets. In mid-morning trading today, WTI futures were down 1.4% at $65.83/bbl and Brent was down 1.1% at $72.19/bbl. U.S. natural gas was down 2.5% at $2.28/MMBtu.
Four out of France’s six refineries will shut down today as strikes escalate following the government’s controversial pension overhaul.
Volkswagen is looking to release a new low-priced electric vehicle that will cost under $22,000 within the next six to seven years, part of an effort to better compete with Tesla and help boost lagging vehicle sales in China.
Volkswagen’s Russian assets have been frozen by a Russian court as the automaker looks to sell its plant in Kaluga, just south of Moscow.
To bring down the cost of batteries, Volkswagen plans to invest in mines to meet half its own demand and sell to third-party customers, consistent with a trend among car makers to vertically integrate into their supply chains.
Some analysts say the collapse of Silicon Valley Bank may be a “wake-up call” to financial markets and companies about the impacts of Federal Reserve rate hikes.
Wall Street’s top regulator is set to adopt new rules aimed at bolstering oversight of systemic risk in the burgeoning world of private equity and hedge funds.
U.S. regulators are considering retaining ownership of securities owned by Signature Bank and Silicon Valley Bank to allow smaller banks to participate in auctions for the collapsed lenders, according to reports.
Amgen will cut 450 jobs, or around 2% of its workforce, marking the company’s second round of layoffs this year.
Regulators looking to halt a dangerous decline in confidence pushed UBS Group to take over its longtime rival Credit Suisse for more than $3 billion, one of the biggest banking deals in years. The state-backed takeover is expected to lead to more job cuts than the 9,000 layoffs Credit Suisse was already planning. The acquisition has sparked concerns about the outlook for banks in Switzerland and caused banking stocks and bonds to plunge.
The world’s top central banks said they would start offering daily loans in dollars to their banks to avert stress in the funding market after the emergency rescue of Swiss giant Credit Suisse.
Latin America could see zero economic growth this year if the banking crisis in the U.S. and Europe spreads across the world, top economic officials said.
A 6.8-magnitude earthquake on the coast of Ecuador caused at least 14 deaths and injured 381 people, while also resulting in fatalities and building damage in northern Peru.
China’s fiscal revenues fell 1.2% in the first two months of 2023 despite signs that economic activity was starting to recover.
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