Lindy Holland-Resnick, Market Manager for Packaging at M. Holland, is presenting during the upcoming Re|focus Sustainability & Recycling Summit in Cincinnati, Ohio. Her session on Developing a Sustainably Minded Staff will cover how to create a holistically sustainable company from top to bottom. If you’re attending Re|focus, don’t miss Lindy’s session on Tuesday, May 24 at 11:15 am ET.
M. Holland is excited to be the Headline Sponsor for the upcoming Injection Molding & Design Expo in Detroit! This two-day trade show will highlight the latest technologies, materials, equipment and opportunities in injection molding. The event is May 25-26 and admission is free. Click here to learn more.
Haleyanne Freedman, M. Holland’s 3D Printing Market Manager, will be discussing Open Platform Adoption in Additive Manufacturing. Don’t miss her presentation in the Designing the Future Theater on Wednesday, May 25 at 4:00 pm ET.
Josh Blackmore, M. Holland’s Global Healthcare Manager, is facilitating a training seminar on Understanding Material Selection for Medical Devices, from Qualification to Approval. Mark your schedules for this session in the Training and Development Theater on Thursday, May 26 at 9:15 am ET.
Supply
Oil prices fell 2% Tuesday after the U.S. said Chevron could negotiate with Venezuela — holder of the world’s largest crude reserves — about possibly restarting production there.
In mid-morning trading today, WTI futures were down 1.6% at $110.60/bbl, Brent was down 1.6% at $110.11/bbl, and U.S. natural gas was up 0.2% at $8.32/MMBtu.
European diplomats are pointing to a May 30-31 summit as the moment for agreement on a phased ban of Russian oil. U.S. officials now suggest tariffs may be quicker and less costly than an all-out ban.
The EU’s unclear guidance has some European importers setting up accounts to pay for Russian gas in rubles, while others consider the move a breach of sanctions.
While Russian crude production fell 9% in April, seaborne deliveries to India and China remain high at more than 1 million bpd.
Daimler Truck reported a 17% gain in first-quarter revenue and said it would continue passing high costs to customers this quarter amid record demand.
J&J Snack Foods lost $20 million in quarterly revenue due to operational and supply chain problems associated with the implementation of a new ERP system.
New York City went into COVID-19 “high alert” Tuesday, triggering an official recommendation to wear masks indoors.
Key COVID-19 antiviral drugs will be in short supply this summer and may run out without more funding from Congress, the White House warned.
The FDA authorized booster doses of Pfizer’s COVID-19 vaccine for children aged 5 to 11.
The Federal Reserve Chairman warned the U.S. economy could suffer from its more hawkish stance but vowed to keep tightening monetary policy until it is clear that inflation is declining.
Alongside the 0.9% rise in retail spending in April, the Commerce Department raised its March reading from 0.5% to 1.4%, an additional positive signal.
U.S. factory production rose at a better-than-expected 0.8% in April, a third consecutive month of solid growth, with gains recorded for metals, machinery, vehicles and food.
Airfares surged 18.6% in April from a month earlier and will likely remain high for the foreseeable future, according to Frontier.
Shares of Walmart fell by double digits Tuesday after the retailer’s first-quarter results showed a 25% drop in income and 30% higher labor costs.
Target shares were down 25% in mid-day trading today after the company announced a more than 50% drop in net income due to cost inflation and shifting consumer buying patterns.
Companies are expected to have 22.6% more interns this academic year compared to last, with the largest gains in tech and finance.
United Airlines’ fleet of Boeing 777s powered with Pratt & Whitney engines has been cleared to fly again by the FAA. The planes were grounded after an engine failure showered plane parts over Colorado in February 2021.
Beijing reported 69 new COVID-19 cases yesterday, up from 52 the day before, as lockdowns grow. Three rounds of mass testing were ordered for several districts.
Rapidly spreading COVID-19 cases in unvaccinated North Korea pose a risk of new virus mutations that could spread globally, health experts warn.
Japan’s next phase of relaxed travel restrictions will allow boosted travelers from the U.S., Australia, Thailand and Singapore to take limited group tours in the nation.
Russia took over the Moscow factory that Renault exited this week and will begin making Moskvich cars — a Soviet-era brand last produced 20 years ago — to deal with a nationwide vehicle shortage.
The euro-area economy grew 0.3% in the first quarter, topping estimates.
Britain’s jobless rate hit a 48-year-low of 3.7% in the first quarter, while pay levels rose a larger-than-expected 7%. The annualized inflation rate in the country jumped to 9% in April, a four-decade high.
Japan’s economy contracted 0.2% in the first quarter as resurgent COVID-19 held back consumer spending. Unlike the U.S., China and Europe, the Japanese economy has yet to recover to pre-pandemic strength.
A measure of new home prices in China fell for the first time in six years after Beijing began cracking down last year on housing speculation, pushing several prominent developers to the edge of collapse.
International air travel is making a strong recovery this year with the exception of the Asia-Pacific region, where passenger volumes are only about 13% of pre-pandemic levels.