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☆ DuPont expects strong second-half on boost from China's reopening
▼ + stars: | 2023-02-07 | by ( Ankit Kumar | ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - DuPont de Nemours Inc (DD.N) on Tuesday projected results to improve in the second-half of the year from steadying consumer electronics demand, normalized inventory levels at customers and China's reopening. DuPont forecast annual sales of $12.30 billion to $12.90 billion, compared with estimates of $12.91 billion, according to Refinitiv IBES data. It expects full-year adjusted earnings between $3.50 and $4.00 per share, compared with estimates of $3.86. The price hikes helped DuPont post adjusted income of 89 cents per share in the fourth quarter, compared with estimates of 78 cents. California's attorney general last year sued DuPont, 3M (MMM.N) and several other companies over toxic "forever chemicals".

☆ EU considers ban on 'forever chemicals', urges search for alternatives
▼ + stars: | 2023-02-07 | by ( Ludwig Burger | ) www.reuters.com time to read: +5 min

"A ban on PFAS would reduce quantities of PFAS in the environment over the long term. Once the ban is in force, companies will be given between 18 months and 12 years to introduce alternatives to the more than 10,000 PFAS affected, depending on the availability of alternatives, according to the draft proposal. The FPP4EU group of 14 companies that make and use PFAS has said that finding alternatives is a long and difficult process. Within the European Chemicals Agency (ECHA), two scientific committees for Risk Assessment and for Socio-Economic Analysis will now review whether the proposal to ban PFAS conforms with wider EU regulation of chemicals known as REACH, followed by a scientific evaluation and consultation with the industry. In August, the United States government said it will propose designating certain forever chemicals as hazardous substances under the U.S. Superfund programme.

☆ Orca whales were discovered with a toilet paper chemical in their livers and skeletal muscles. It's just the 'tip of the iceberg' for one of the most contaminated marine mammals in the world.
▼ + stars: | 2023-02-04 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +7 min

The scientists also discovered PFAS — known as forever chemicals — in the bodies of the killer whales. The amount of 4NP found in the killer whales, which tended to be higher in the blood-rich liver tissues, reached exceptionally higher in one calf. "So we are here talking about contamination that is harmful to the environment and harmful to this species of killer whales." "And those females that are losing their calves are nutritionally deprived which of course works to increase the impacts of chemicals," Giles said. And scientists like Giles are continuing to pay attention to what other unknown chemicals killer whales may be holding in their bodies.

☆ Why buzzy cases like the $5 million Thinx settlement don't often result in customers getting much money back
▼ + stars: | 2023-01-27 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +8 min

Thinx customers can now seek recoveries as part of a settlement by the period underwear brand. The news may have some customers wondering: Can I, too, recoup money spent on a product that let me down? Instead, these cases — which can take years — may recoup only a portion of customers' spending on the products in question. The Thinx settlement includes a $4 million pot to pay customers and legal fees, and as much as another $1 million for any required "valid claims," according to the settlement. Unilever agreed to the settlement while "denying wrongdoing of any nature and without admitting liability," according to the settlement agreement.

☆ Firefighters Union Pushes to Rid Protective Gear of ‘Forever Chemicals’
▼ + stars: | 2023-01-26 | by ( Kris Maher | ) www.wsj.com time to read: 1 min

PFAS compounds have been used in firefighting gear. The so-called forever chemicals have been associated with cancer and other illnesses. Growing concern among firefighters across the country that high rates of cancer in their profession are linked to chemicals in protective gear they wear has led to a sharp change of course in the union that represents them. The chemicals, known as PFAS, or per- and polyfluoroalkyl substances, have been associated with cancers and other illnesses and are coming under greater scrutiny from environmental regulators. After years of playing down concerns about the chemicals, the International Association of Fire Fighters is now urging that gear with PFAS be removed whenever possible.

☆ 3M to cut 2,500 jobs as demand weakens, profit drops
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

Jan 24 (Reuters) - 3M Co (MMM.N) said on Tuesday it would cut 2,500 manufacturing jobs after reporting a lower profit, as the U.S. industrial conglomerate faces a demand slowdown in its unit that sells products including notebooks, air purifiers and respirators. Additionally, a cut back from U.S. retailers dealing with elevated inventory levels also dampened demand. "As demand weakened, we adjusted manufacturing output and controlled costs, which enabled us to improve inventory levels," he added. Excluding items, the company reported a profit of $2.28 per share compared to $2.45 per share a year earlier. Reporting by Aishwarya Nair in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ In a water-scarce world, the Xylem-Evoqua deal makes sense. Why some think it's too expensive
▼ + stars: | 2023-01-23 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

Evoqua shareholders will receive 0.480 Xylem shares, or about $52.89, for each one they own. That's a 29% premium to where Evoqua shares closed on Friday. Evoqua shares jumped 14% on the news, but Xylem shareholders are balking at what they see as a pricey deal. XYL 1Y mountain Xylem shares sell off in the wake of Evoqua deal That's one of problems Raymond James analyst Pavel Molchanov raised. Trading in Evoqua shares doesn't appear to indicate expectations of a competing bid surfacing, and some analysts have said they didn't expect one,.

☆ Thinx to pay millions to settle class-action lawsuit alleging its period underwear contained potentially harmful chemicals
▼ + stars: | 2023-01-21 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

In a class-action lawsuit announced in November, plaintiffs accused Thinx of failing to tell customers their period underwear contained potentially harmful PFAS. The first report of Thinx underwear potentially containing the chemicals was in January 2020, from Sierra Club magazine columnist Jessian Choy. In her column, Choy said she mailed her Thinx underwear to a nuclear professor who discovered PFAS in the crotch of the item. An editor's note attached to Choy's story Friday suggested the class-action suit as a result of Choy's investigation into the toxicity of her own Thinx underwear. Ten years later, period underwear are still a small part of the menstrual care industry although more companies have come forward to compete with Thinx.

If you bought a period underwear product made by Thinx, you may now be entitled to a refund thanks to a class-action lawsuit settlement announced in November. Plaintiffs in the suit accused Thinx of using — and not telling customers about — potentially harmful chemicals known as PFAS in the underwear. The company has agreed to provide up to an additional $1 million if needed to cover valid claims. As part of the settlement, Thinx denied all the allegations leveled by the plaintiffs, and asserted that the settlement is not an admission of guilt. Thinx customers may receive a $7 refund for each purchase of up to three pairs of Thinx Period Underwear reflected in Thinx’s records, or for which they provide a valid proof of purchase.

☆ 'Concerning' map reveals where fish caught in the US are full of hazardous 'forever chemicals'
▼ + stars: | 2023-01-19 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

Fish in lakes and streams across the US are contaminated with hazardous "forever chemicals." Since their invention in the 1930s, per- and polyfluoroalkyl substances (PFAS) have multiplied and spread. They found PFOS — one of the most notorious substances — was the largest contributor to PFAS contamination in fish. Last year, the EPA lowered the level of PFOS in drinking water it considers safe to 0.02 parts per trillion. He said he's also seen PFAS contamination advisories for fishing spots in Sweden, where he lives.

☆ State Bans on Products With ‘Forever Chemicals’ Increase
▼ + stars: | 2023-01-12 | by ( Kris Maher | Bob Tita | ) www.wsj.com time to read: 1 min

New state laws banning products with “forever chemicals”—from carpets and fast-food wrappers to ski wax—are taking effect as momentum grows nationally to get rid of substances that accumulate in human bodies and are linked to serious health problems. As of this month, Maine has banned the sale of residential carpets with long-lasting chemicals known as PFAS and became the first state to require companies to report products that contain the chemicals. In Washington and Vermont, companies can no longer sell or use food packaging, such as wrappers and pizza boxes, that contain them. Vermont’s ban on ski waxes with the chemicals begins in July.

☆ 3M Tries to Contain Legal Battles Over ‘Forever Chemicals,’ Earplugs
▼ + stars: | 2023-01-03 | by ( Bob Tita | ) www.wsj.com time to read: 1 min

3M recently said it would wind down production of PFAS, or ‘forever chemicals,’ so named because they take a long time to break down in the environment. 3M Co.’s decision to quit making “forever chemicals” represents a tactical retreat aimed at containing its potential liability over its products in legal fights expected to last for years, analysts say. 3M is defending itself against allegations that chemicals and products it has made for decades have contaminated drinking water and pose health risks. Legal and industry analysts expect 3M to be engaged for years in remediating alleged soil and water contamination from forever chemicals, which have been used in industrial and consumer products including nonstick cookware, carpeting and firefighting foam.

Here are four climate and environment lawsuits that are likely to make headlines in 2023. The oil companies in the nation's high court are hoping to upend a series of circuit court decisions saying the cases belong in state courts where they were filed. If the court takes the appeal and rules for the oil companies, then the cases would be moved to federal court, the preferred venue for the industry defendants. (Bellwether trials are chosen as test cases and are used to work through common legal and factual issues.) "I think it will be a huge year for this issue," Conroy said of 2023.

☆ 3M, DuPont, Other Makers Expected to Face New Drinking Water Rules on ‘Forever Chemicals’
▼ + stars: | 2022-12-21 | by ( Kris Maher | Bob Tita | ) www.wsj.com time to read: 1 min

PFAS testing at a laboratory in Holland, Mich. New drinking water standards could require thousands of public water systems to install additional filtration systems. New federal drinking water standards could ratchet up legal pressure on 3M Co., DuPont de Nemours Inc. and other companies that manufactured or used so-called forever chemicals. The Environmental Protection Agency has been stepping up scrutiny of chemicals known as perfluoroalkyl and polyfluoroalkyl substances, or PFAS. The agency has said it is planning to propose the first federal drinking water limits on them in the coming months, a move some legal experts say could prompt additional lawsuits against PFAS manufacturers.

☆ Premarket stocks: Japan just delivered a lump of coal to investors across the globe
▼ + stars: | 2022-12-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

A surprise announcement from the Bank of Japan sent investors spinning and global markets reeling on Tuesday. The country’s central bank signaled that it would reverse two decades of policy precedent and begin to move away from loose monetary policy intended to keep wages and prices high. The Japanese Central Bank loosened the yield on its 10-year government bonds from 0.25% to 0.5%. The central bank said that inflation expectations have risen. Japan’s is the last major central bank to keep rates negative and this signals that it could be shifting its stance.

☆ 3M to Stop Making, Discontinue Use of Forever Chemicals
▼ + stars: | 2022-12-20 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

3M said it would stop making all fluoropolymers, fluorinated fluids, and PFAS-based additive products over the next three years. 3M Co. said it would stop making so-called forever chemicals and work to discontinue their use across the manufacturing conglomerate’s portfolio of products by the end of 2025. Perfluoroalkyl and polyfluoroalkyl substances, or PFAS, are commonly called forever chemicals because they accumulate and take so long to break down.

☆ 3M to end 'forever chemicals' output at cost of up to $2.3 billion
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

Perfluoralkyl and polyfluoroalkyl substances (PFAS) do not break down quickly and have in recent years been found in dangerous concentrations in drinking water, soils and foods. Pressure to stop producing the chemicals has also increased, with investors managing $8 trillion in assets earlier this year writing to 54 companies urging them to phase out their use. 3M expects related total pre-tax charges of about $1.3 billion to $2.3 billion over the course of its PFAS exit. In the fourth quarter, it expects to take an estimated pre-tax charge between $0.7 billion and $1.0 billion, primarily non-cash and related to asset impairments. In August, the Biden administration said it will propose designating certain forever chemicals as hazardous substances under the U.S. Superfund program.

☆ 3M to Stop Making, Discontinue Use of ‘Forever Chemicals’
▼ + stars: | 2022-12-20 | by ( Kris Maher | Will Feuer | ) www.wsj.com time to read: 1 min

3M said it would stop making all fluoropolymers, fluorinated fluids and PFAS-based additive products over the next three years. 3M Co. said it would stop making so-called forever chemicals and work to discontinue their use across the manufacturing conglomerate’s portfolio of products by the end of 2025. Perfluoroalkyl and polyfluoroalkyl substances, or PFAS, are commonly called “forever chemicals” because they take a long time to break down in the environment. Such chemicals include highly durable compounds that manufacturers long prized for their resistance to heat, and their ability to repel water, grease and stains.

☆ What Are ‘Forever Chemicals’ and Are They Hazardous to Your Health?
▼ + stars: | 2022-12-20 | by ( Kris Maher | ) www.wsj.com time to read: 1 min

Equipment used to test for perfluoroalkyl and polyfluoroalkyl substances, known collectively as PFAS, in drinking water. 3M Co. said Tuesday it would stop making so-called forever chemicals and work to discontinue their use by the end of 2025. In recent decades, research has linked exposure to some forms of the chemicals with health problems including kidney and testicular cancers, thyroid disease and high cholesterol, according to the Environmental Protection Agency. Regulators and environmental groups have taken aim at the chemicals, and thousands of lawsuits alleging contamination and illness have been filed in recent years against 3M and other manufacturers.

☆ 3M to stop making 'forever chemicals', to take up to $2.3 bln charge
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

The per- and polyfluoroalkyl substances are known as forever chemicals because the substances do not break down quickly and have in recent years been found in dangerous concentrations in drinking water, soils and foods across the country. Last month, 3M and DuPont de Nemours Inc (DD.N) were among several companies to be sued by California's attorney general to recover clean-up costs. The company expects to incur related total pre-tax charges of about $1.3 billion to $2.3 billion over the course of its exit from PFAS. In the fourth quarter, 3M expects to take an estimated pre-tax charge between $0.7 billion and $1.0 billion, primarily non-cash and related to asset impairments. In August this year, the Biden administration said it will propose designating certain "forever chemicals" as hazardous substances under the nation's Superfund program.

☆ Jim Cramer's top 10 things to watch in the market Tuesday: Wells Fargo, 3M, Meta
▼ + stars: | 2022-12-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Wells Fargo (WFC) agrees to a $3.7 billion settlement with the government's Consumer Financial Protection Bureau (CFPB) over consumer abuses. Wells Fargo analysts believe an ESPN/ABC spinoff from Club stock Disney (DIS) is a "reasonably probable event" late next year. American (AAL) and other airlines saw price target cuts on Wall Street. Barclays raises price target on Merck (MRK) to $128 per share from $110 and keeps overweight (buy) rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ 3M will stop making hazardous ‘forever chemicals’ starting in 2025
▼ + stars: | 2022-12-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —3M, the conglomerate behind Post-It notes and Scotch tape, will stop making controversial per- and polyfluoroalkyl substances (PFAS) by the end of 2025. The chemicals, commonly known as “forever chemicals,” are found in hundreds of household items and used to make coatings and products that can repel water, grease, heat and oil. Over the past decade, chemical manufacturers have voluntarily stopped producing two of the most commonly used forever chemicals, including PFOS and PFOA. At the federal level, the US Food and Drug Administration phased out the use of certain PFAS chemicals in 2016. The FDA and manufacturers agreed in 2020 to phase out some PFAS chemicals from food packaging and other items that came into contact with food.

☆ California Sues 3M and DuPont Over PFAS Chemicals
▼ + stars: | 2022-11-11 | by ( Christine Mai-Duc | Kris Maher | ) www.wsj.com time to read: 1 min

California Attorney General Rob Bonta wants 3M and DuPont to establish an abatement fund to reduce the toxins’ effects. California is suing 3M Co. and DuPont de Nemours Inc. along with other manufacturers of PFAS, a collection of chemicals that have been linked to health issues including cancer and are commonly found in consumer products such as fabrics, food packaging and cookware. The complaint, filed in Alameda County Superior Court Thursday, alleges that a total of 18 defendant manufacturers made products containing PFAS, commonly known as “forever chemicals,” for decades even though they knew they were toxic and harmful to humans and the environment.

☆ California sues 3M, Dupont over toxic 'forever chemicals'
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - California's attorney general on Thursday sued 3M Co (MMM.N), DuPont de Nemours Inc (DD.N) and several other companies to recoup the "staggering" clean-up costs from toxic pollutants known as "forever chemicals." The substances are known as forever chemicals because of how long they stay in the human body and environment. "The damage caused by 3M, DuPont, and other manufacturers of PFAS is nothing short of staggering, and without drastic action, California will be dealing with the harms of these toxic chemicals for generations," Bonta said. In June, the U.S. Environmental Protection Agency warned that forever chemicals could be dangerous even at undetectable levels. The Biden administration is expected to issue the first enforceable drinking water regulations for PFAS in public water systems this year.

☆ California sues 3M, DuPont over toxic ‘forever chemicals’
▼ + stars: | 2022-11-10 | by ( ) edition.cnn.com time to read: +2 min

DuPont has never manufactured PFOA, PFOS or firefighting foam, said spokesperson Daniel Turner, referring to two PFAS substances. “The damage caused by 3M, DuPont, and other manufacturers of PFAS is nothing short of staggering, and without drastic action, California will be dealing with the harms of these toxic chemicals for generations,” Bonta said. Thursday’s lawsuit was filed in Alameda County, which includes Oakland, and is the first statewide legal action over PFAS contamination. In June, the US Environmental Protection Agency warned that forever chemicals could be dangerous even at undetectable levels. The Biden administration is expected to issue the first enforceable drinking water regulations for PFAS in public water systems this year.

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