Plastics News interviewed experts at M. Holland about how material and chemical suppliers are working to meet automotive OEM demands for both electric and internal combustion vehicles amid an ongoing market shift. Click here to read the article!
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In mid-morning trading today, WTI futures were down 1.5% at $88.00/bbl, Brent was off 1.4% at $93.00/bbl and U.S. natural gas was up 1.0% at $6.66/MMBtu.
Banker Standard Chartered lowered its forecasts for U.S. GDP and global oil demand next year, no longer expecting crude demand to exceed 2019’s historic peak.
Chilean miners are looking for alternatives to rail to transport product amid a growing wave of crime in the country’s main mining region.
Intel is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with slowing PC sales.
Intel is restructuring to provide more separation between chip designers and chip-making factories, which it hopes to operate like other chip foundries in the coming years.
U.S. chip toolmaker KLA will stop offering some supplies to China-based customers this week to comply with the White House’s new export restrictions. Shares of Asia’s largest chip makers continued falling Tuesday, erasing some $240 billion from the sector’s global market value.
Adobe expects online sales during the holiday season to grow 2.5% this year to about $210 billion after expanding 8.6% last year.
Amazon kicked off its second major sales event of 2022 this week, spurring a flurry of discounts at other retailers and websites trying to match the trend.
A German trade union told its workers to strike at Amazon facilities during its major sales event this week.
In the latest news from the automotive industry:
GM is starting an energy business to sell power-storage units and services to homeowners and commercial clients, an offshoot of the automaker’s battery development for electric vehicles.
GM is investing $69 million to take an equity stake in Queensland Pacific Metals, a bid to secure nickel and cobalt for battery cells.
Waymo completed autonomous-truck deliveries of Constellation Brands’ beers over several months under a test with C.H. Robinson Worldwide.
Chinese e-commerce logistics provider Zongteng Group is starting an international air cargo service with delivery of its first Boeing 777 freighter.
After four years of legislative debate, Chile has joined the 11-country Trans-Pacific Partnership trade pact, boosting access for other members to the world’s biggest miner of copper.
AstraZeneca’s attempt to create a nasal spray version of its COVID-19 vaccine suffered a setback Tuesday as initial human testing returned poor results.
Sore throat is now the dominant symptom of COVID-19 infection, health experts say.
Producer prices rose 0.4% last month, driven by food and home heating costs.
The six biggest U.S. banks likely put aside $5 billion in the third quarter to cover future loan losses in the event of a global recession.
The U.S. federal deficit was halved to $1.4 trillion in the just-ended fiscal year as tax revenues rose and pandemic spending fell sharply.
U.S. small business confidence improved in September as labor shortages eased, according to the National Federation of Independent Business.
A new proposal from the U.S. administration could upend the gig economy by requiring that “economically dependent” workers be considered employees, making it harder for companies to treat workers as independent contractors. Shares of Uber, Lyft and other gig companies tumbled on the news.
American Airlines’ initial Q3 results show a 13% increase in revenue despite the carrier trimming its flight schedule by 10%.
Delta Air Lines invested $60 million in an air taxi startup to bring service to and from airports in New York and Los Angeles.
Tractor Supply Co. was able to move forward with its $320 million acquisition of Orscheln Farm & Home following a year and a half of regulatory negotiations.
Russia’s currency slumped to a three-month low against the dollar on Tuesday. The nation’s economic activity pulled back sharply in September and will likely not bottom out until the first half of next year.
South Korea’s central bank raised its benchmark interest rate by 50 basis points to 3% on Tuesday while signaling more policy tightening to come.
U.K. grocery inflation set another record high of 13.9% in September, deepening the nation’s cost-of-living crisis.
India’s retail inflation hit a five-month high of 7.30% in September, largely due to the rising cost of food.
Consumer prices in Brazil contracted for a third month in September, benefiting from major tax cuts on fuels and electricity.
The U.S. dollar rose to a fresh 24-year high against the Japanese yen Tuesday, above the level that triggered Japan’s central bank to intervene in markets last month.
Chinese bank lending doubled from August to September after the central bank expanded support for infrastructure and manufacturing investments.
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