Ascend to increase prices on nylon polymers, compounds

The Conversation
Electric cars pile up at European ports as Chinese firms struggle to find buyers
Chinese car makers are finding the road to succeeding in the EU slow and bumpy.
2 days ago
Reuters Videos
Elon Musk lays off Tesla execs, plans more cuts
STORY: Elon Musk looks to be doing more layoffs at Tesla. Reports by The Information on Tuesday (April 30) say he’s fired two top executives, and plans to get rid of hundreds more workers. Musk is said to be frustrated by falling sales, and the pace of earlier job cuts. The story quotes an email said to be from Musk. In it he says, “these actions are making it clear that we need to be absolutely hard core about headcount”. In an apparent warning to managers, he says “while some on exec staff are taking this seriously, most are not yet doing so”. There was no immediate response to a Reuters request for comment. It all follows a move earlier this month to shed some 10% of the company’s workforce. Tesla is grappling with falling sales and an intensifying price war which it started. Reporting earnings last week, it said all that led to its first quarterly drop in revenue since 2020. Musk this weekend made a surprise visit to China, the epicenter of the price battle. There he made progress on rolling out the brand’s advanced driver assistance features in the country. However, Tesla faces fierce competition from local makers like BYD in what is now the world’s biggest car market.
a day ago
The Canadian Press
Trans Mountain pipeline expansion gets green light to open for May 1
CALGARY — The long-awaited Trans Mountain pipeline expansion is complete and the Canada Energy Regulator has given the go-ahead for the project to open. The regulator said Tuesday it has approved the last remaining "leave to open" applications submitted by Trans Mountain Corp., the Crown corporation behind the project. Approval of these applications was required before the expanded pipeline could begin shipping oil. Also on Tuesday, Trans Mountain confirmed that Wednesday, May 1 will mark the co
17 hours ago
Reuters
Reliance buys its first Canadian crude from Trans Mountain pipeline, sources say
(Reuters) -Reliance Industries has bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner's first oil purchase from Canada's new Trans Mountain pipeline, trade sources said. Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from the new pipeline which is scheduled to start transporting oil in May. The Canadian government-owned pipeline expansion will nearly triple the flow of crude from Alberta to Canada's Pacific Coast and open up access to Asia and the U.S. West Coast. Shell will perform ship-to-ship transfers to move about four 500,000-barrel cargoes of Access Western Blend (AWB) onto a Very Large Crude Carrier and ship the oil to the Sikka port, the sources said, where Reliance operates the world's biggest refining complex.
2 days ago
Fortune
Geopolitics and U.S. rules push chip firms to decouple from mainland China, with one major Taiwanese testing company ditching the market entirely
On Friday, King Yuan Electronics Co., a Taiwan-based chip testing firm, announced that it was selling its mainland China-based operations, citing geopolitics.
a day ago
Bloomberg
Tesla Soars on Tentative China Approval for Driving System
(Bloomberg) -- Elon Musk’s quick visit to China paid immediate dividends, with Tesla Inc. receiving in-principle approval from government officials to deploy its driver-assistance system in the world’s biggest auto market.Most Read from BloombergTesla Soars on Tentative China Approval for Driving SystemHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsStocks Trade for 390 Minutes a Day. Increasingly, Only 10 MatterUS Warns ICC Action on Israel Would Hurt Cease-Fire ChancesYen Sparks Int
2 days ago
Reuters
UPDATE 2-Canada's Cenovus Energy beats profit estimate on production boost
Canadian oil and gas company Cenovus Energy beat first-quarter profit estimates on Wednesday, buoyed by higher production and throughput volumes at its refineries. Quarterly refining throughput in the quarter of 655,200 barrels per day (bpd) was a record while high operational availability at its downstream assets helped benefit from improved benchmark pricing in the U.S., the company said. "During the first quarter of 2024, we saw strong operational performance from our oil sands and Canadian refining assets, and improved operational performance from our U.S. refining assets," Cenovus said.
5 hours ago
Reuters
UPDATE 2-Texas operators turn to flaring amid weak gas prices
Operators drilling for oil in Texas are scrambling to dispose of excess natural gas amid a supply glut and weak prices, prompting a sharp rise in flaring requests. The Railroad Commission of Texas (RRC), which regulates the state's oil and natural gas industry, last week approved 21 exemption requests from operators, mostly in the Permian and Eagle Ford shale fields, to flare, more than four times the level it approved this time last year. Flaring, the burning of unwanted gas, has come under greater regulatory scrutiny in recent as environmental groups and climate activists seek to clamp down on the practice that releases greenhouse gases.
23 hours ago
The Canadian Press
Electricity imports from U.S. topped exports in February amid drought: StatCan
For the first time in eight years, Canada imported more electricity from the U.S. than it exported amid prolonged dry conditions that have reduced hydroelectric power generation. Statistics Canada says electricity generation in Canada totalled 53.6 million megawatt-hours (MWh) in February, down 4.9 per cent from the same month last year, as average daily generation was 8.2 per cent lower year-over-year. Canada imported 2.7 million MWh of electricity from the U.S. that month, slightly more than t
2 days ago
Autoblog
Tesla stock surges on 'watershed' 'Full Self-Driving' approval in China
Tesla (TSLA) stock soared on Monday following reports that CEO Elon Musk won Chinese approval to deploy the automaker’s Full Self-Driving (FSD) autonomous software on the mainland.
2 days ago
Autoblog
Toyota Highlander plant gets $1.4B to build a new EV and battery packs
Toyota invests $1.3B in the plant building the Highlander for new three-row EV and battery pack assembly lines. Thought to be for an electric Higlander.
2 days ago
Reuters
Microsoft to invest $1.7 billion in cloud, AI in Indonesia, CEO says
JAKARTA (Reuters) -Microsoft will invest $1.7 billion over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, visiting chief executive Satya Nadella said on Tuesday. Jakarta is Nadella's first stop on a trip to Southeast Asian countries aimed at promoting the U.S. company's generative AI technology. Microsoft's investment will "bring the latest and greatest AI infrastructure to Indonesia," Nadella said.
a day ago
CNN Business
Volkswagen’s electric car orders double in Europe
Volkswagen’s orders for electric vehicles shot up in Europe in the first quarter of 2024 compared with a year ago, countering suggestions that drivers may be losing interest in EVs.
a day ago
Reuters
UPDATE 5-Hyundai Motor Group plans hybrid cars for India in strategy shift, sources say
Hyundai Motor Group plans to launch its first hybrid cars in India as early as 2026, three sources said, as the South Korean auto group shifts strategy to look beyond electric vehicles and boosts its presence in a key market. The group, housing Hyundai Motor and Kia Corp , is evaluating a hybrid sport-utility vehicle of size similar to its top-selling, mid-sized Creta SUV in India, said two of the sources, who have direct knowledge of the plans.
a day ago
Reuters
REFILE-UPDATE 4-McDonald's posts rare profit miss as customers turn picky
McDonald's missed quarterly profit estimates for the first time in two years as budget-conscious consumers looked past its offers and the Middle East conflict weighed on the burger chain's international sales. Global comparable sales growth slid for the fourth straight quarter to 1.9%, with the company saying consumers turned "more discriminating with every dollar they spend". "Consumer is certainly being very discriminating in how they spend their dollar ... I think it's important to recognize that all income cohorts are seeking value," McDonald's CEO Chris Kempczinski said on a post-earnings call.
a day ago
CoinDesk
First Mover Americas: Bitcoin Falls to $62K as Hong Kong ETFs Fail to Meet Expectations
The latest price moves in bitcoin (BTC) and crypto markets in context for April 30, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
a day ago
Reuters
UPDATE 3-Diamondback Energy beats first quarter profit estimates on higher production
Diamondback Energy beat first quarter profit estimates on Tuesday as the oil and gas firm benefited from higher oil production and better prices. Crude oil prices in the quarter mirrored the previous year as production cuts by OPEC+ countries offset lower demand, helping oil producers like Diamondback Energy. Quarterly oil production was at 24.8 millions of barrels (mmbls), up about 10% up from the previous year and prices for oil was up 2.7% at $75.06 per barrel for the same period.
19 hours ago
Reuters
WRAPUP 1-Shift to new models, weak demand hit Europe's automakers
Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue on Tuesday as they geared up to launch new models and faced weaker consumer demand for new cars as interest rates remain high. The news hit the automakers' stocks. In early trading Mercedes shares were down 3.6%, Stellantis nearly 1.5% and Volkswagen 2.1%.
a day ago
Global News
B.C. backtracking on drug decriminalization spurs advocates' fears of worsening crisis
The British Columbia government is banning all illicit drug use in public spaces, reversing course on its decriminalization policy that was intended to tackle the province's overdose crisis. Neetu Garcha explains why B.C. is backtracking, and why advocates are worried recriminalizing drugs won't solve the worsening emergency.
2 days ago
Barrons.com
Coca-Cola Raised Its 2024 Revenue Forecast. Investors Are Shrugging It Off.
Coca-Cola turned in better results than expected and raised its forecast for revenue for the year. The soda maker said it now expects 2024 revenue growth of between 8% to 9%, up from its prior forecast of 6% to 7%. Shares of Coca-Cola were down 0.6% in Tuesday trading, compared with a 0.9% loss in the and a 0.7% slide in the Prior to the session, the stock had gained 5.3% this year.
22 hours ago

Material	Price Increase
Neat PA66 polymer	$0.30/kg	€0.28/kg
PA6 and PA66 compounds	$0.30/kg	€0.28/kg

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STOCKS TRADE MIXED WITH FED'S POWELL IN SPOTLIGHT

Ascend to increase prices on nylon polymers, compounds

Latest Stories

Electric cars pile up at European ports as Chinese firms struggle to find buyers

Elon Musk lays off Tesla execs, plans more cuts

Trans Mountain pipeline expansion gets green light to open for May 1

Reliance buys its first Canadian crude from Trans Mountain pipeline, sources say

Geopolitics and U.S. rules push chip firms to decouple from mainland China, with one major Taiwanese testing company ditching the market entirely

Tesla Soars on Tentative China Approval for Driving System

UPDATE 2-Canada's Cenovus Energy beats profit estimate on production boost

UPDATE 2-Texas operators turn to flaring amid weak gas prices

Electricity imports from U.S. topped exports in February amid drought: StatCan

Tesla stock surges on 'watershed' 'Full Self-Driving' approval in China

Toyota Highlander plant gets $1.4B to build a new EV and battery packs

Microsoft to invest $1.7 billion in cloud, AI in Indonesia, CEO says

Volkswagen’s electric car orders double in Europe

UPDATE 5-Hyundai Motor Group plans hybrid cars for India in strategy shift, sources say

REFILE-UPDATE 4-McDonald's posts rare profit miss as customers turn picky

First Mover Americas: Bitcoin Falls to $62K as Hong Kong ETFs Fail to Meet Expectations

UPDATE 3-Diamondback Energy beats first quarter profit estimates on higher production

WRAPUP 1-Shift to new models, weak demand hit Europe's automakers

B.C. backtracking on drug decriminalization spurs advocates' fears of worsening crisis

Coca-Cola Raised Its 2024 Revenue Forecast. Investors Are Shrugging It Off.