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☆ UK government eyes ban on single-use plastic plates and cutlery
▼ + stars: | 2022-12-14 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +3 min

CNN —Single-use plastic cutlery, plates and other items are set to be banned by the UK government and replaced by biodegradable items as it seeks to tackle the country’s – and the world’s – growing plastic waste problem. The Financial Times reported that the UK Environment Secretary Thérèse Coffey will announce firm plans in the coming weeks. The government said 1.1 billion single-use plates and 4.25 billion items of single-use cutlery are used in England each year, equivalent to 20 plates and 75 pieces of cutlery per person. The European Union banned single-use plastic plates, cutlery, straws, balloon sticks and cotton buds last summer. In the US, California put in place sweeping new restrictions on single-use plastic in June, requiring all single-use packaging and plastic single-use food serviceware be recyclable or compostable by 2032.

☆ Meet the small hedge fund that thinks it can oust Larry Fink from BlackRock
▼ + stars: | 2022-12-08 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +6 min

The fund has a tiny stake in BlackRock and is calling for the firm to replace Larry Fink as CEO. On one side stands a small, relatively unknown activist hedge fund with a tiny stake in a giant company. 1, the young hedge fund run by a longtime activist investor, and ExxonMobil. Joining a wave of heavy scrutiny of BlackRock and Fink over ESG, Bluebell accused BlackRock of a hypocritical posture toward sustainable investing, according to the letter, which was viewed by Insider. Bloomberg News ran the headline: "Tiny Activist Bluebell Quickly Becomes CEOs' Worst Nightmare."

Giuseppe Bivona and Marco Taricco, Bluebell's partners, wrote to Fink, saying they want someone else to run the company. Bluebell was founded in 2019 and has taken on companies including GlaxoSmithKline, Glencore, Vivendi and Danone, where it engineered the ouster of former CEO Emmanuel Faber. "Fink clearly has political ambitions because it is not his job as chief executive of BlackRock to dictate energy policy,” Bivona told Reuters in an interview. BlackRock did not support Bluebell's campaign to oust the CEO of chemical company Solvay or at Leonardo SpA (LDOF.MI), where Bluebell wanted to promote a liability action against the CEO. A BlackRock spokesman said it did not "support Bluebell's campaigns as we did not consider them to be in the best economic interests of our clients."

☆ Factbox: Saudi-China energy, trade and investment ties
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +4 min

Below are some details about oil, trade and security relations between China and Saudi Arabia. OIL TRADEChina is Saudi Arabia's largest trading partner, with bilateral trade worth $87.3 billion in 2021. Chinese exports to Saudi Arabia reached $30.3 billion, while China's imports from the kingdom totalled $57 billion. REFINERIESAramco in early 2022 made a final investment decision to build a $10 billion refinery, petrochemical complex in northeast China, marking its single largest investment in China. Named Huajin Aramco Petrochemical Company, the joint venture groups Aramco, Huajin Chemical Industries Group Corporation (000059.SZ) -- a unit of defence conglomerate Norinco-- and Panjin Xincheng Industrial Group.

☆ The managers of a $5.8 billion fund that's beaten 99% of competitors in the past 15 years share how to find winning value stocks in 2023 using this simple, timeless process
▼ + stars: | 2022-12-05 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

The Tweedy, Browne International Value Fund has outperformed 99% of peers over the past 15 years. Few funds have been a better bet than the Tweedy, Browne International Value Fund (TBGVX) over the past three decades. Perhaps most impressive is that the $5.8 billion Tweedy, Browne International Value Fund has topped 99% of funds in its category in the past 15 years, according to Morningstar. Insider spoke with Wyckoff, Shrager, and Hill about their investing process and where they see opportunities for international stocks in 2023. Value stocks and international companies should outperform their growth and US-based peers, in his view.

Tiny fragments of plastic have been found in blood samples, stools and placentas of unborn babies, recent studies have shown. Scientists are trying to understand the health risks of this new phenomenon, but concerns range from the impact on organs to how some plastic additives might disrupt hormonal systems. Jodie Roussell, public affairs lead for packaging and sustainability at Swiss consumer goods giant Nestle (NESN.S), told the panel she hoped the treaty would help establish global quality controls for plastic, especially recycled plastic. Roussell said in lieu of such standards, Nestle has established its own quality controls and a black list for certain materials. International standards would help with "levelling the playing field and ensuring a fair distribution of responsibility across the value chain," Roussell said.

☆ Products Made With Captured Greenhouse Gas Are Reaching Commercial Scale
▼ + stars: | 2022-11-28 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Straws, bottles and packaging made with captured greenhouse-gas are starting to reach commercial scale, offering a way for businesses making and using everyday products to reduce emissions contributing to global warming. Origin Materials Inc. and Newlight Technologies Inc. are trying to meet that demand by bringing factories online that use captured emissions to manufacture materials used to make products including clothes, tires and plastic bottles. Sourcing and transporting raw inputs and captured CO2 are crucial to a product’s so-called carbon-negative credentials, meaning more CO2 is stored than created. The private company sources captured emissions from dairy farms, ethanol plants and landfills, and is expanding into coal mines and exploring direct-air capture. Competitor Origin Materials has a different approach to acquiring captured emissions and plans for its first commercial-scale factory to come online next year.

☆ South Korea's President Yoon warns of crackdown on striking truckers
▼ + stars: | 2022-11-25 | by ( Joyce Lee | ) www.reuters.com time to read: +3 min

According to South Korean law, during a serious disruption to transportation the government may issue such an order to force transport workers back to their jobs. If the government takes this route, it would be the first time in South Korean history such a order is issued. "The Yoon Suk-yeol government is threatening a hard-line response without any efforts to stop the strike," Lee told reporters on Thursday. This compares with South Korea's 200,000 tonnes of cement demand in the peak season between September and early December. The union estimated about 25,000 people were joining the strike, out of about 420,000 total transport workers in South Korea.

☆ World’s heaviest flying bird uses plants to self-medicate, scientists say
▼ + stars: | 2022-11-23 | by ( Hafsa Khalil | ) edition.cnn.com time to read: +3 min

Published in Frontiers in Ecology and Evolution scientific journal on Wednesday, the study reveals that the great bustards ate an abundance of corn poppies (Papaver rhoeas) and purple viper’s bugloss (Echium plantagineum). In humans, corn poppies have been used for their medicinal properties as a sedative and pain relief while purple viper’s bugloss can be toxic if consumed. Both plants were highly effective in killing or inhibiting the effects of the protozoa and nematodes, according to the study. The purple viper’s bugloss showed moderate defensive action against the fungi. “We normally associate self-medication in species like primates, so to see researchers studying endangered birds is brilliant,” Rose told CNN.

☆ Stocks making the biggest moves midday: Abercrombie & Fitch, Disney, Best Buy, Zoom and more
▼ + stars: | 2022-11-22 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Abercrombie & Fitch – Shares of the retail stock jumped 19% after the apparel retailer beat Wall Street's revenue forecasts for the third quarter and posted unexpected quarterly profit. Deutsche Bank reiterated the stock as buy and said it doesn't see any meaningful changes coming to its direct-to-consumer strategy. Best Buy – Best Buy's stock surged 11% after the consumer electronics retailer beat Wall Street's estimates and maintained its outlook for the holiday period. Demand remains below its pandemic heights, but Best Buy indicated its faring well even as inflation weighs on consumers' pockets. The stock slipped even after the company beat top and bottom line estimates for its latest quarter and better-than-expected comparable store sales.

One of the biggest makers of generic drugs, Israeli-based Teva said it aims eventually to secure a 10% global market share of biosimilars. A division of Novartis (NOVN.S), Sandoz is currently the second biggest player after Pfizer Inc (PFE.N) in the biosimilar market by gross sales globally, per IQVIA data, cited by Sandoz. Sandoz launched eight biosimilar drugs between 2017 and 2021, including a version of Bristol-Myers’ multiple myeloma drug Revlimid. The analysis projected the value of the global biosimilar market could more than triple to an estimated $74 billion by 2030. Sandoz and Teva are both working on biosimilars for Humira.

☆ The big new Exxon Mobil climate change deal that got an assist from Joe Biden
▼ + stars: | 2022-11-19 | by ( Tim Mullaney | ) www.cnbc.com time to read: +7 min

The law may help oil companies like ExxonMobil build profitable businesses to replace some of the revenue and profit they'll lose as EVs proliferate. Maybe, if carbon capture and storage is indeed as big a deal as ExxonMobil's first-of-its-kind deal to extract, transport and store carbon from other companies' factories implies. Could it be that Big Oil's next big thing got a big assist from Joe Biden? An industrial facility on the Houston Ship Channel where Exxon Mobil is proposing a carbon capture and sequestration network. And big oil and gas companies are where the expertise is."

☆ U.S. imposes new sanctions over Iran sanctions evasion, targets Chinese firms
▼ + stars: | 2022-11-17 | by ( Daphne Psaledakis | ) www.reuters.com time to read: +2 min

Washington has increasingly targeted Chinese companies over the export of Iran's petrochemicals as the prospects of reviving the nuclear pact have dimmed. "The United States will continue to implement sanctions against those actors facilitating these sales." Iran's mission to the United Nations in New York did not immediately respond to a Reuters request for comment. Those that engage in certain transactions with the companies also risk being hit with sanctions. Reporting by Daphne Psaledakis; Editing by Andrea Ricci and Jon BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Where did Earth’s water come from? This meteorite might hold the answer
▼ + stars: | 2022-11-17 | by ( Hafsa Khalil | ) edition.cnn.com time to read: +3 min

London CNN —If you’ve ever wondered where water on Earth comes from, new research on a meteorite which landed in a family’s front yard in England last year may have just the answer. Researchers from London’s Natural History Museum and the University of Glasgow, in Scotland, studied a meteorite found in the town of Winchcombe, Gloucestershire, to discover it contained water similar to that found on Earth. Approximately 71% of the Earth’s surface is covered in water, with oceans holding about 96.5% of all water, according to the US Geological Survey. The team, which measured the ratio of hydrogen isotopes in the water, found that it closely resembled the composition of water on Earth, according to a press release from the Natural History Museum. Samples of the Winchcombe meteorite are currently on public display at the Natural History Museum in London, the Winchcombe Museum, and The Wilson (Art Gallery) in Gloucestshire.

☆ Warren Buffett's one-time heir apparent who resigned in disgrace amid accusations of insider trading has pleaded for a judge to be lenient in sentencing Theranos founder Elizabeth Holmes
▼ + stars: | 2022-11-16 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

One letter came from David Sokol, the former Berkshire Hathaway executive who stepped down amid allegations of insider trading. In his letter, Sokol says Holmes' jury may have lacked the business knowledge he believes is necessary to reach an appropriate verdict in this case. The SEC investigated but ultimately decided not to file insider trading charges against Sokol, though Berkshire said he violated the company's insider trading policy. As a knowledgeable investor, I can say with certainty that I would not have found Ms. Holmes guilty on any of the wire fraud charges." Later in his letter, Sokol even invoked Thomas Edison's name to make his case for leniency.

☆ US Navy finds 'massive amount' of explosive material able to fuel over a dozen ballistic missiles on a fishing boat sailing from Iran
▼ + stars: | 2022-11-15 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

The US Navy intercepted a fishing boat in the Gulf of Oman traveling from Iran to Yemen last week. During a search, the Navy found lethal aid and a "massive amount" of explosive material. This material is able to fuel over a dozen medium-range ballistic missiles, a Navy official said. The Navy said it sank the ship last weekend and transferred the crew to Yemen's Coast Guard. Iran is the main supporter of the Houthis, who have fought a yearslong civil war against Yemen's internationally recognized government.

☆ 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.

The increased output could also cool prices for other oil products, especially for gasoline, and dampen overall refining margins. Half of the increase, though, will still come from Asia's biggest refiner Sinopec (600028.SS), one of them said, as it raises output to produce more diesel and raise fuel exports. So the mandate from the headquarters is to boost diesel production to supply the domestic market and also to raise exports," one of the Sinopec sources said. Further boosting supply, China's largest private refiner Zhejiang Petroleum and Chemical Co (ZPC) is raising diesel output by cutting petrochemical production. Lockdowns have become more frequent and China's borders remain mostly shut, hurting domestic gasoline and aviation fuel sales.

Mandatory credit Kyodo/via REUTERSSummarySummary Companies Oil prices rise to highest levels since late AugustWSJ: China weighs gradual Zero-COVID exit without timelineChina's crude oil imports rebound amid refinery rolloutsNEW YORK, Nov 7 (Reuters) - Oil prices fell on Monday, paring gains after rising to more than two-month highs, on mixed signals over China, the world's top crude importer, potentially relaxing its strict COVID-19 restrictions. Brent crude futures fell 65 cents to settle at $97.92 a barrel. Earlier in the session, they rose to a session high of $99.56 a barrel, the highest since Aug. 31. However, weighing on futures, Chinese health officials at the weekend reiterated their commitment to strict COVID containment measures. Meanwhile, China's imports and exports contracted unexpectedly in October, but its crude oil imports rebounded to the highest level since May.

☆ Oil prices slide as hopes for China demand rebound fade
▼ + stars: | 2022-11-07 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

Mandatory credit Kyodo/via REUTERSCompanies Sumitomo Chemical Co Ltd FollowSINGAPORE, Nov 7 (Reuters) - Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world's top crude importer. Brent crude futures dropped $1.20, or 1.2%, to $97.37 a barrel by 0227 GMT, after hitting as low as $96.50 earlier. "Oil prices dropped sharply as the Chinese officials vowed to stick to the COVID-zero policy while infected cases climbed in China, which may cause more restrictions measures, darkening the demand outlook," CMC Markets analyst Tina Teng said. A jump in the U.S. dollar is also weighing on oil prices, she added. Oil prices are underpinned by expectations of tighter supplies as the European Union's embargo on Russia's seaborne crude exports will start on Dec. 5 while refineries worldwide are ramping up output to meet strong diesel demand.

☆ Most Gulf stocks end higher, Abu Dhabi hits record high
▼ + stars: | 2022-11-07 | by ( Ateeq Shariff | Megan Rowling | ) www.reuters.com time to read: +2 min

Brent crude futures recouped most losses after dropping by more than $1/bbl earlier in the session on China lockdowns worries. read moreSaudi Arabia's benchmark index (.TASI) rose 0.7%, extending gains from the previous session, led by a 3% rise in Riyad Bank (1010.SE). Dubai's main share index (.DFMGI) gained 0.9%, with blue-chip developer Emaar Properties (EMAR.DU) rising 2.3%. In ABu Dhabi, the index (.FTFADGI) advanced 1.2% to hit a record high, buoyed by a 2.1% jump in the country's biggest lender, First Abu Dhabi Bank (FAB.AD). Outside the Gulf, Egypt's blue-chip index (.EGX30) advanced 2.4%, as most of the stocks on the index were in positive territory.

☆ Storms are ahead as demand cools more than usual, Solvay CFO says
▼ + stars: | 2022-11-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStorms are ahead as demand cools more than usual, Solvay CFO saysKarim Hajjar, CFO of Solvay, discusses the chemical company's eaernings and outlook on "Squawk Box Europe."

☆ This startup wants the agriculture sector to use satellites to tackle the food security crisis. Here's the 12-slide pitch deck Constellr used to raise a $10 million seed round.
▼ + stars: | 2022-11-03 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

German startup Constellr has raised $10 million to build microsatellites for the agriculture sector. Check out the 12-slide pitch deck it used to raise its seed round below. German space startup Constellr has secured $10 million in seed funding to ramp up its efforts to build microsatellites that can monitor water for the agriculture industry. The startup said its satellites differ from existing satellites by going beyond visual imaging, allowing farmers to make more precise interventions with their crops. Check out the 12-slide pitch deck Constellr used to raise the fresh funds below:

☆ BASF says European operations need to be cut to size 'permanently'
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Oct 26 (Reuters) - BASF (BASFn.DE) said costs at sites in its European home market need to be brought to a "permanently" lower level because of a triple burden of sluggish growth, high energy costs and over-regulation. In the first nine months of 2022, natural gas costs at BASF's European sites were about 2.2 billion euros ($2.19 billion) higher than in the year-earlier period, the company added. The move defies heightened concerns in the German government over economic dependence on China as a trade partner that it sees as under increasingly authoritarian rule. BASF has warned that Europe's planned shift to shipped liquefied natural gas (LNG), away from Russian pipeline gas, would put sites in the region at a structural disadvantage to overseas rivals with cheaper energy supplies. Reporting by Ludwig Burger; Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

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