The U.S. Energy Department reported that crude inventories shrank last week, giving oil prices a boost yesterday, though gasoline inventories rose. Oil prices were up in mid-day trading today, with the WTI 0.2% higher at $45.57/bbl and Brent up 0.4% at $48.36/bbl. Natural gas 9.2% lower at $2.52/MMBtu.
Mexico’s National Centre for the Control of Natural Gas has cut off the natural gas supply to Braskem Idesa, forcing the company to shut down polyethylene production and threaten legal action in a continuing dispute over ethane contracts.
The Logistics Manager’s Index, a gauge for business activity in the logistics industry, continued to grow in November with a reading of 70.8, where an LMI above 50 indicates industry expansion. The number is slightly lower than the 71.6 posted in October.
The Supplier Deliveries Index rose to 61.7% in November on congestion at ports and rising coronavirus cases. A reading above 50 indicates slower deliveries, according to the Institute for Supply Management.
Logistics giant XPO Logistics will spin off its contract logistics unit into a separate public company while keeping trucking and freight brokerage operations as a stand-alone business.
We are seeing congested trucking and shipping conditions, backlogs at warehousing and packaging facilities, and tight packaging supplies. Clients are advised to provide expanded lead times on orders to help ensure delivery dates.
CVS employees will soon be able to administer Eli Lilly’s COVID-19 treatment in people’s homes. The treatment, which helps to keep patients in early stages of the disease from developing serious symptoms, requires an hour-long infusion that jams hospitals and puts others at risk.
Private sector job growth slowed in November, with ADP reporting 307,000 jobs were created, the lowest level since July and well below forecasts as a resurgence of COVID-19 infections shadows the economic recovery.
Corporate bankruptcies were up 40% in November compared with the prior-year period, while overall bankruptcies were at their lowest level in 14 years as individuals benefited from stimulus programs and eviction moratoriums.
The number of corporate “zombies” — major companies with less cash flow than their interest expenses — nearly doubled to 47 in the third quarter as the pandemic prolongs the cash burn in many sectors.
The Institute for Supply Management index of American manufacturing activity reached 57.5 in November, versus a two-year high of 59.3 in October, with anything above 50 indicating growth. Lean inventories suggest the manufacturing rebound will continue.
Rising COVID-19 cases have stalled a return to offices:
Home-appliance makers are tailoring their products to include better sanitization features, such as sterilizing lights in refrigerators and washing machines with extra high heat.
Business school applications rose for the first time in five years this year, as more students turn toward higher education to weather the poor job market and many schools loosened testing requirements.
Zoom and Microsoft Teams face increased competition from a $27.7 billion megadeal pairing CRM giant Salesforce with the collaboration app Slack, a duo that aims to provide wider opportunities for remote work.
France threatened to veto a Brexit deal if European Union negotiators make further concessions to the U.K.
A diplomatic row between China and Australia is deepening as Australian officials rejected a document from the Chinese government outlining 14 grievances.
Our 3D Printing group has partnered with Advanced Laser Materials (ALM) and EOS North America to distribute selective laser sintering (SLS) materials. Click here to read more.
We are pleased to introduce M. Holland’s new Application Development Engineer for Sustainability, Debbie Prenatt. With 20+ years in the plastics industry, Debbie will focus on developing our portfolio and expanding our expertise in the Sustainability segment to better serve our clients.
Our latest Founders Series video is a tribute to Joan Holland, co-founder and matriarch of M. Holland, who recently passed away.
Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets. To arrange a videoconference or meeting with any of our Market Managers, please visit our website.
To access 3D Printing training, order parts and seek technical assistance, visit our online resource.
M. Holland Company
We will provide further COVID-19 bulletins as circumstances dictate. For all COVID-19 updates and notices, please refer to the M. Holland website.