MH Daily Bulletin: November 23

November 23, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • M. Holland’s U.S. and Puerto Rico offices will be closed Thursday, Nov. 24 and Friday, Nov. 25 in observance of the Thanksgiving holiday.
  • Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.

Supply

Supply Chain

Have Shopping Holidays Jumped the Shark?

Domestic Markets

  • The U.S. reported 34,678 new COVID-19 infections and 552 virus fatalities Tuesday.
  • COVID-19 cases are on the rise in 24 states, led by a 423% increase in Washington state over the past two weeks.
  • COVID-19 cases in Florida appear to have plateaued, but a rise in other respiratory viruses could put undue strain on hospitals recovering from pressures of the pandemic.
  • The White House announced a new campaign to get updated COVID-19 boosters to vulnerable populations ahead of a feared winter wave.
  • The Richmond Fed’s index of factory activity in the region stretching from Maryland down to South Carolina edged higher in November despite generally weak conditions for manufacturing firms:
United States Richmond Fed Manufacturing Index
  •  In the latest news from earnings season:
  • Fintech giant Fidelity National Information Services plans to cut thousands of workers, targeting $500 million in cost savings in coming quarters.
  • Shares of Zoom Video Communications have tumbled 90% from their pandemic peak as the firm struggles to adjust to a post-COVID world.
  • Teva Pharmaceuticals and AbbVie finalized settlement terms worth over $6.6 billion to resolve thousands of U.S. opioid lawsuits.
  • Barry Callebaut, the world’s largest maker of bulk chocolate, plans to boost production capacity by 15% in the Americas to meet rising demand from the ice cream industry.

International Markets

Euro Area Consumer Confidence
Mexico Retail Sales YoY
  • Mexican companies are spinning off sports, gambling and cell-tower businesses in a bid to revive depressed stock prices, with more deals likely in the coming months.
  • Ukraine began receiving emergency funds of over $2.5 billion from Europe and over $4.5 billion from the U.S. this week.
  • Collective global debt fell by $6.4 trillion to $290 trillion in the third quarter, a positive, although economists warn of drastic consequences from rising debt-service costs. Debt-to-GDP ratios in emerging markets are already at record highs.
  • Dubai’s main airport saw passenger traffic nearly triple in the third quarter from a year ago.

Some sources linked are subscription services.

Stay informed with industry trends and insights.

Stay informed with industry trends and insights.

This field is for validation purposes and should be left unchanged.