DIRS.INFO The most relevant business & tech news

It’s very much hand in hand,” said DeJoy, who acknowledged being impatient with the pace of change, including the rollout of electric vehicles. Those efficiency-driven changes will help the environment by reducing carbon emissions by eliminating wasteful activities, in addition to electric vehicles and other efforts. Last month, the Postal Service unveiled new EVs and charging stations at a new distribution center in Georgia, one of many updated sorting and delivery centers that are opening. The Postal Service plans to take delivery of 66,000 electric vehicles over five years. But not everyone is thrilled by the focus on electric vehicles.

Persons: General Louis DeJoy, Biden, ”, DeJoy, Jennifer Beiro, Craig Stevens, Sharp Organizations: U.S . Postal Service, Postal Service, Congress, Workers, Oshkosh Locations: Georgia, Ford, Oshkosh, Midwest, Portland , Maine

That's the assessment of a new report released on Thursday by the American Academy of Arts and Sciences (AAAS). There is growing concern about a contradiction in the U.S. economy: jobs are plentiful and economic growth is strong, especially compared with other advanced economies, but surveys show many Americans are sour about the outlook. A key part of the report is a new tool developed to measure the well-being of Americans, which combines 11 different measures. Researchers around the world have long sought to find better ways to gauge the well-being of people that look beyond measures such as economic growth or unemployment. Reuters GraphicsOne unique part of the measure is an attempt to quantify the "political voice" of Americans.

Persons: Gaelen Morse, Matthew Slaughter, Nicholas Lemann, there's, Lemann, Jacob Hacker, Timothy Aeppel, Paul Simao Organizations: REUTERS, American Academy of Arts and Sciences, Dartmouth College's Tuck School of Business, Federal Reserve, U.S . Census, Columbia Journalism School, Reuters, Yale University, Thomson Locations: Columbus , Ohio, U.S, America

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsOct 23 (Reuters) - Jason Andringa’s company was part of the stampede of U.S. businesses that built factories in China. But the mood of Vermeer and many other global producers has turned sour on China. Rather than expand in China, these companies are directing new investments to other low-cost countries such as Vietnam and India. Ryan Gunnigle, CEO of Atlanta-based toy maker Kids2, said he is continuing to invest in his China factories, adding both automation and new capacity. The CEO of Danby Appliances, a Canadian company that sells over half of its products in the U.S., got 85% of its goods from Chinese factories five years ago.

Persons: Lucy Nicholson, Jason Andringa’s, Vermeer, Biden, Joe Biden, Xi Jinping, Gina Raimondo, Matt Dollard, Ryan Gunnigle, Kids2, Jim Estill, He’s, Danby, Timothy Aeppel, Anna Driver Organizations: Port, REUTERS, U.S ., U.S, Nvidia, Wall Street, U.S . Bureau, China Business Council, Reuters, Asia Pacific Economic Cooperation, Trump, RSM US, Appliances, Thomson Locations: Port of Long Beach, Port of Los Angeles, Los Angeles , California, U.S, China . Iowa, China, Mexico, Asia, San Francisco, Beijing, Washington, Taiwan, Vietnam, India, Atlanta, Canadian, Turkey, Canada

REUTERS/Bianca Flowers Acquire Licensing RightsSept 22 (Reuters) - Jeffrey Aznavorian has already cut output about 6% at his small auto parts factory outside Detroit due to the United Auto Workers strike. If the strike expands, it would only be a matter of weeks before some smaller suppliers faltered, said Marick Masters, a professor of business at Wayne State University. He estimates 30% of smaller suppliers carry too much debt to survive a long strike. Other measures also point to a supply base that was strained even before the strike. RapidRatings calculates "core health scores" for privately owned auto parts companies - based on a 100-point scale - which looks at their returns, cost structures, and capital structure.

Persons: Bianca Flowers, Jeffrey Aznavorian, Pittsburgh steelmaker, Laurie Harbour, Marick, James Gellert, Gellert, Timothy Aeppel, Andrea Ricci Organizations: Ford UAW, Detroit, REUTERS, United Auto Workers, Ford, General Motors, Chrysler, GM, Anderson Economic, Auto, CIE, Spain’s CIE Automotive, . Steel, Pittsburgh, Reuters, Harbour, Inc, Wayne State University, Thomson Locations: Chicago , Illinois, U.S, Detroit, Michigan, Midwest, Illinois, Southfield , Michigan, Plymouth , Michigan

☆ Biden’s offshore wind target slipping out of reach as projects struggle
▼ + stars: | 2023-09-15 | by ( Nichola Groom | ) www.reuters.com time to read: +7 min

The 2030 target, unveiled shortly after Biden took office, is central to Biden's broader plan to decarbonize the U.S. economy by 2050. The energy research firm expects 21 GW of offshore wind along U.S. shores in 2030, breaking 30 GW by 2032. Still, offshore wind developers including Orsted have said the IRA’s subsidies are insufficient for projects to thrive in the current environment, and are lobbying the administration for additional concessions. The nation currently has just two pilot-scale offshore wind farms capable of producing 42 megawatts of electricity. Stephanie McClellan, executive director of the offshore wind advocacy group Turn Forward, said making sure the first fleet of projects succeeds was more important than a particular timeline.

Persons: Brian Snyder, Joe Biden’s, Biden, Kris Ohleth, It's, Samantha Woodworth, Wood Mackenzie, Michael Brown, France's, it's, Kelly Penot, Rousseau, Orsted, Michael Kikukawa, Samah Shaiq, Shaiq, Doreen Harris, NYSERDA, Elizabeth Mahony, Stephanie McClellan, Nichola Groom, David Gregorio Our Organizations: REUTERS, BP, Shell, Companies, Developers, Ocean Winds, Reuters, Biden, U.S . Department of Energy, DOE, New York State Energy Research, Development Authority, New York State Department of Public Service, Equinor, Orsted . Massachusetts Department of Energy, Office of Energy, Environmental Affairs, New, New Jersey Board of Public Utilities, Thomson Locations: Rhode, U.S, North American, Massachusetts, Gulf of Mexico, Europe, Asia, China, United Kingdom, New Jersey, New York, Orsted .

REUTERS/Jordan Vonderhaar Acquire Licensing RightsAug 31 (Reuters) - Even a robot invasion can't beat a slowing economy. Robot sales boomed through the pandemic, as producers scrambled to use the machines to churn out badly needed goods. Burnstein added that A3 expects the softness in robot orders to continue until the fourth quarter or early next year. In the past, they were concentrated in auto factories and their suppliers, which still make up a large share of all robot orders. Since construction projects vary in size and complexity, he said, there are spells when the robot isn't needed at all.

Persons: Jordan Vonderhaar, Nancy Kleitsch, Kleitsch, Jeff Burnstein, Burnstein, Aaron Anderson, Anderson, Timothy Aeppel, Dan Burns, Paul Simao Organizations: REUTERS, Companies, Association for Advancing Automation, Commerce Department, Reuters, Labor Department, Thomson Locations: San Antonio , Texas, U.S, North America, Phoenix, Concord , California

In the past, he would have swiftly chopped 10% of the workers that run his bag-making machines, or about 15 people. Faced with the tightest job market in decades, many have become less trigger-happy with layoffs, even in the face of a cooling economy. But, so far, the economy has continued to grow, albeit more slowly, and the job market has powered onward. Reuters Graphics'HOLD ONTO YOUR LABOR FORCE'At least one major company has adopted a formal strategy of hoarding workers. "I don't think it's the case that many businesses are holding onto workers who are idle," she said.

Persons: Kevin Kelly, Nathan Frandino, Kelly, Alan H, Shaw, they're, Dana Peterson, Peterson, Arnold Kamler, Julia Pollak, Thomas Simons, We're, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Emerald Packaging, REUTERS, Packaging, Employers, Federal Reserve, Labor, Reuters Graphics, Norfolk, Reuters, U.S, Survey, Labor Department, Conference Board, Business Council, Kent International, Jefferies, Thomson Locations: California, Union City , California, U.S, San Francisco, Norfolk Southern, downturns, Atlanta, New York, South Carolina, rehire, Los Angeles

July 25 (Reuters) - The U.S. economy may ultimately skirt a recession, but it's felt like one for months at Jon Ferrando's 103 RV dealerships. "Our industry has always been a little challenged on forecasting around demand," said Jason Lippert, CEO of LCI Industries, a large supplier of parts to the RV industry that is also based in Elkhart. "If I was just looking at RV data, I would be screaming recession," said Michael Hicks, an economics professor at Ball State University in Indiana who tracks the industry, adding that pullbacks in RV shipments have signaled every U.S. recession since 1981. "We expect in the second half of this year shipments (of RVs) will start to increase again," Geraci said. Gregg Fore, an RV industry consultant who previously ran an RV parts supplier, said half the new inventory at some dealers he works with are 2022 models.

Persons: it's, Jon Ferrando's, Ferrando, Michael Happe, Eden, Jason Lippert, Michael Hicks, RVIA, Monika Geraci, Geraci, Gregg Fore, Tyler Hermon, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Winnebago Industries, Federal Reserve, RV Industry Association, Thor Industries, LCI Industries, Ball State University, Dealers, Thomson Locations: U.S, Fort Lauderdale , Florida, RVs, United States, Elkhart , Indiana, Eden Prairie , Minnesota, Elkhart, Indiana, North America, RVing

☆ Analysis-In China's lithium hub, mining boom comes at a cost
▼ + stars: | 2023-06-15 | by ( Siyi Liu | Dominique Patton | ) www.reuters.com time to read: +7 min

FILE PHOTO: A vehicle is seen near a lithium smelter in Yichun, Jiangxi province, China March 30, 2023. It has supported mine development by taking stakes in mining companies to help battery materials makers that do not have mines overseas like those owned by China’s top lithium producers Ganfeng Lithium and Tianqi Lithium. Separating lithium from lepidolite can cost as much as 100,000 yuan per metric ton, compared to 40,000-50,000 yuan for brine and 50,000-60,000 yuan for spodumene, analysts said. ‘NATURAL RESOURCES CHAOS’Further dimming the outlook for lepidolite, environmental damage is a growing concern. UBS analysts see China’s supply of lithium from lepidolite tripling to 280,000 metric tons, or 13% of global supply, between 2022 and 2025, well short of Yichun’s target.

Persons: ”, Yang Yaohua, Yang, Wu Wei, Eric Norris, ” Norris, Yongxing, Yichun, Ma Jun, ” Ma, Vicky Zhao, Li Qi Organizations: REUTERS, Staff, Australia, Guosen, Macquarie, Gotion High Tech, CRU, Xiamen University, Energy, lepidolite, Reuters, Materials Technology, Institute of Public & Environmental Affairs, UBS, Benchmark Mineral Intelligence Locations: YICHUN, China, Yichun, Jiangxi province, lepidolite, Beijing, Sichuan, Qinghai, Tibet, Shanghai, Jin, U.S, Jiangxi

It has supported mine development by taking stakes in mining companies to help battery materials makers that do not have mines overseas like those owned by China's top lithium producers Ganfeng Lithium (002460.SZ), (002460.SZ) and Tianqi Lithium (002466.SZ). Separating lithium from lepidolite can cost as much as 100,000 yuan per metric ton, compared to 40,000-50,000 yuan for brine and 50,000-60,000 yuan for spodumene, analysts said. 'NATURAL RESOURCES CHAOS'Further dimming the outlook for lepidolite, environmental damage is a growing concern. As it gets stricter now, lithium resources in Yichun will lose their competitiveness with the higher costs for environmental protection," Ma said. UBS analysts see China's supply of lithium from lepidolite tripling to 280,000 metric tons, or 13% of global supply, between 2022 and 2025, well short of Yichun's target.

Persons: YICHUN, Yang Yaohua, Yang, Wu Wei, Eric Norris, Norris, Yongxing, Yichun, Ma Jun, Ma, Vicky Zhao, Li Qi, Siyi Liu, Dominique Patton, Ernest Scheyder, Tony Munroe, Sonali Paul Organizations: Australia, Guosen, Macquarie, Gotion High Tech, CRU, Xiamen University, Energy, Corp, Reuters, Materials Technology, Institute of Public & Environmental Affairs, UBS, Benchmark Mineral Intelligence, Beijing Newsroom, Thomson Locations: China, Yichun, lepidolite, Beijing, Sichuan, Qinghai, Tibet, Shanghai, Jin, U.S, Jiangxi, Houston

Global supply chains grew overwhelmed as they struggled to deliver. But Prange said most of his supply chain had stabilized - meaning he was able to get most of what he needed - by the end of 2021. "One of the headwinds is inflation," said Kevin Austin, the supply chain chief for Toyota Motor North America. Meanwhile, the global supply chain snarls of the pandemic have diminished. The New York Fed's Global Supply Chain Pressure Index ticked down to a reading of -1.32 in April, compared to a revised -1.15 in March.

TOKYO, May 17 (Reuters) - Rich nations should boost financial and technical support to poorer countries to help them tackle climate change and achieve similar decarbonisation goals, a senior Japanese environment ministry official said ahead of a G7 summit in Hiroshima. Developed countries promised in 2009 to transfer $100 billion annually between 2020 and 2025 to vulnerable states hit by increasingly severe climate-linked impacts and disasters - but that target was never met. G7 energy and climate ministers discussed how to meet that goal when they met in the Japanese city of Sapporo last month. "All countries should follow the good example of Japan so that we could achieve the $100 billion goal," he said, adding that he hoped that the level would be achieved as soon as possible and maintained through 2025. Developing countries say they need far more support than that from the rich nations, who are responsible for most of the greenhouse gas emissions, otherwise they cannot afford to cut CO2 emissions.

[1/3] U.S. President Joe Biden attends the groundbreaking of the new Intel semiconductor manufacturing facility in New Albany, Ohio, U.S., September 9, 2022. But all that new construction has a real estate problem. That would be a problem for the Biden administration, which has pushed through legislation to fuel the developments. A White House official said it was a "high-class problem" to have, adding: "Folks are finding places to build. The governors of South Carolina, Virginia and North Carolina have each proposed to spend hundreds of millions of dollars on readying industrial sites in the coming years.

While the Biden administration push, described by economists as an industrial policy, has opened opportunities for some companies, significant hurdles remain. The 2022 CHIPS and Science Act provides $52.7 billion in federal subsidies for semiconductor production and research. Industrial policy still has critics. Scott Lincicome, director of general economics at the libertarian Cato Institute, said industrial policy tends to crumble into failed projects and cost overruns. "There's all sorts of more market-oriented reforms that could achieve the type of objectives our political class wants, without the unintended consequences of industrial policy," he said.

☆ Meet a 37-year-old with $108,100 in student debt who lives in a school bus because rent is unaffordable: 'Student-loan debt is by far my biggest regret'
▼ + stars: | 2022-12-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Nick Crocker, 37, is living in a school bus he built out with his fiancée in Portland, Oregon. Crocker said his student debt is his "biggest regret" and wishes he had gone to trade school. With the majority of Crocker's debt being private loans, Biden's relief won't make a significant dent for him and about 3 million other borrowers with private loans. He says he wishes he'd known the high, life-long costs of higher education when he was in high school. "So we're living in a 120-square-foot school bus, and while it's been a great way for us to save the money, it's cramped.

In an emailed statement, Monica Medina, the U.S. official leading its treaty negotiations, said the country was committed to ending plastic pollution by 2040. Japan's vice minister for global environmental affairs, Hiroshi Ono, said he knew of a proposed coalition on plastic involving the United States but declined further comment. "We don't need a treaty for countries to decide themselves what their national actions should be. We need a treaty that can actually add on top of that," said Eirik Lindebjerg, global plastics policy manager at WWF, calling such an approach a "light touch." Calls for tougher global measures such as those focused on plastic production have also met resistance from the powerful oil and petrochemical firms that make plastic.

Search resuls for: "Environmental Affairs"

16 mentions found