At our Plastics Reflections Web Series event on Oct. 13, M. Holland will host panelists from Maersk and Bank of America to discuss the macroeconomic factors influencing global and domestic economies, including impacts on the plastics industry. Click here to register.
Micron Technology’s quarterly profits sank 45% on a 20% decline in sales of its semiconductors, a further sign that demand for consumer electronics is slumping. The U.S. firm plans to cut capital expenditures by 30% next fiscal year.
In the latest news from the auto industry:
Toyota’s global output grew a record 44.3% year over year in August as supply shortages in Asia eased. Toyota executives also said pursuing an all-electric vehicle lineup would be too narrow an approach for its global markets.
Used-car retailer CarMax saw profit fall over 50% in the most recent quarter on a mere 2% gain in sales, its slowest of the pandemic.
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