M. Holland has announced expanded access to 3D printing filaments from Braskem, a global chemical company, providing clients with access to polyethylene (PE) and glass fiber reinforced polypropylene (PP) filaments. Click here to read the full press release.
Are you attending the North American Detroit Auto Show this week? We invite you to join our networking reception at the Detroit Athletic Club on Thursday, Sept. 15, at 4 pm. To RSVP for our reception or set up a meeting with our Automotive team, please contact Mike Gumbko, Strategic Account Manager.
Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.
Supply
Oil prices rose over 1% on Monday as supply concerns mount ahead of winter.
In mid-morning trading today, WTI futures were down 2.8% at $85.36/bbl, Brent was down 2.9% at $91.30/bbl, and U.S. natural gas was down 0.2% at $8.23/MMBtu.
Germany paid 10% more for 46% fewer exports by volume from Russia in July, a reflection of the soaring price for oil and gas.
Italy’s main business lobby is in talks with the government about gas rationing; the Netherlands is spending $150 million to help residents with energy bills; and Paris is shutting the lights off early at its iconic Eiffel Tower — all examples of EU nations scrambling to devise their own strategies to deal with an energy crunch.
Gazprom’s newest LNG plant will start sending cargoes to Greece, which is at odds with Europe’s plan to cut its Russian gas dependency by two-thirds this year.
The U.S. administration is tightening offshore oil-and-gas safety requirements rolled back under the previous administration that analysts say can help prevent catastrophes like 2010’s Deepwater Horizon oil spill.
Four thousand people were evacuated from west-central Oregon yesterday after the six-week-old Cedar Creek wildfire exploded to 87,000 acres with 0% containment.
Over $1 billion in secondhand ice-class tankers, used for long-haul voyages, were bought and sold from May to August, up fivefold from a year ago.
The U.S. Postal Service will hire 28,000 seasonal workers this year to expand holiday processing capacity to 60 million packages per day, up from 53 million last year.
The U.S. reported 60,185 new COVID-19 infections and 328 virus fatalities Monday. The daily average for new cases is down 24% from two weeks ago to the lowest level since May, though a lack of home testing reporting could skew the data.
New York Times and NBC employees have vowed to work from home in protest over back-to-office requirements that began this week.
Inflation eased less than expected in August, with the Consumer Price Index up 0.1% compared with the prior month and 8.3% over the prior year, sending stock futures lower in premarket trading. U.S. online prices jumped 2.1% in August after declining in July for the first time in two years, according to Adobe.
Mastercard says U.S. spending growth this holiday season will likely slow to 7.1% from 8.5% last year as inflation reduces demand. Deloitte shares similar forecasts.
The U.S. workforce hit 164.7 million people in August, topping 2019 levels for the first time of the pandemic.
Deposits at U.S. banks fell by a record $370 billion in the second quarter, the first decline since 2018, even as banks continue to sit on more deposits than needed after a two-year influx of pandemic cash savings.
San Francisco’s median home price was 7% lower last month than a year ago as remote work hits demand in what was recently the hottest U.S. housing market.
U.S. Bancorp says its mortgage revenue will plummet as much as 35% from the second to the third quarter as the housing market slows.
Oracle met quarterly financial targets after strong demand for its cloud services pushed segment revenue up 45%.
Pandemic darling Peloton Interactive began losing senior leaders Monday as the firm undergoes massive changes to trim losses and win back investor confidence.
International Markets
COVID-19 cases in Ukraine are expected to peak in October, the WHO said, putting further strain on the nation’s already overstretched hospitals.
European medicine regulators backed new COVID-19 boosters tailored to the latest subvariants of Omicron, BA.4 and BA.5, just days after approving shots for the BA.1 strain.
Australia is losing $3.6 billion of output per year due to long-COVID’s impacts on the labor market, data suggests.
Britain’s teetering economy could be pushed into recession this quarter from the impact of Queen Elizabeth’s death on productivity, economists say. Still, the U.K. jobless rate hit a near-50-year low of 3.6% in the second quarter.
Canadian households saw a 6.1% decline in net worth last quarter, the biggest drop on record led by shrinking value in home equity and financial assets.
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