In his "Cramer's Playbook" segment of Mad Money Tuesday night, Jim Cramer proclaimed that the goal of business isn't just to make widgets, it's also to make our world a cleaner, healthier and safer place for everyone. Business is the greatest force for social change, Cramer reminded viewers, which is why today's announcement that Mastercard's foundation is donating $1.3 billion to COVID relief in Africa is so important. Tuesday's announcement gave Mastercard a seat at the global table, Cramer said, and it keeps the company top of mind with consumers around the world.
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(Bloomberg) -- The price of U.S. lumber will fall further in the coming months as sawmills increase production, though demand is expected to hold strong, according to Capital Economics.“High prevailing prices have already encouraged lumber mills to boost output and we anticipate that domestic production will rise even further as labor shortages in the trucking and forestry sector dissipate,” Samuel Burman, assistant commodities economist, said in a note Wednesday.The number of rail cars hauling
The United States International Trade Commission (ITC) said on Wednesday that U.S. manufacturers are "materially injured" by imports of passenger vehicle and light truck tires from Korea, Taiwan and Thailand. The ITC also found subsidized passenger tires from Vietnam injure domestic manufacturers. The U.S. Commerce Department as a result of the order "will issue antidumping duty orders on imports of these products from Korea, Taiwan, and Thailand, and a countervailing duty order on imports of these products from Vietnam," the ITC said.
(Bloomberg) -- Australia’s rock lobsters -- a long-prized delicacy among Chinese consumers -- may be finding their way onto mainland menus through a backdoor that circumvents a worsening diplomatic and trading dispute between the two nations.Since direct shipments to China virtually ground to a halt last November, Hong Kong has become the world’s largest importer of Australian lobsters, with monthly trade growing more than 2,000% from October to April. While lower prices will have spurred some i
Police in Iran seized 7,000 computers involved in mining operations at an illegal cryptocurrency farm.
(Bloomberg) -- Yantian International Container Terminals, which handles cargo at one of the world’s busiest container ports, will restore normal operations after a Covid-19 outbreak caused a month of disruptions that snarled global supply chains and led to a surge in shipping rates.All berths at the port of Yantian, part the Port of Shenzhen in southern China, will be fully operational on Thursday as the virus situation is now under control, Yantian International said in a statement. The company
- USA TODAY
'They're hitting the pause button': Lumber price roller coaster forces Americans to delay costly renovations
Homeowners are worried about committing to new builds or renovations despite a recent drop in lumber futures as prices remain elevated amid COVID.
(Bloomberg) -- A shortage of hogs in the U.S. means pork-packer margins are getting pinched.Losses deepened to $60.23 per hog, according to HedgersEdge data Tuesday. That’s the most in records going back to 2014.Packers trying to meet demand as restaurants reopened have been getting squeezed, paying a premium for hogs after farmers culled the herd during the pandemic. Even as restocking has slowed and pork prices have declined, hog supplies are expected to remain tight because of the diminished
Making more semiconductors in the U.S. is an urgent matter of both economic and national security, commerce secretary Gina Raimondo told Axios on Wednesday.Why it matters: The U.S., which once accounted for more than a third of global chip production, now makes just 12%. Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeThe big picture: It's not just that the U.S. doesn't make as many chips as it used to. The most advanced chips are manufactured
- Travel & Leisure Video
Here's everything you need to know before you fly, according to Delta Air Lines reviews.
(Bloomberg) -- Saudi Arabia’s Energy Minister said the OPEC+ alliance has a role in “taming and containing” inflationary pressures, just hours after Brent crude surged back above $75 a barrel.The comments come as OPEC+ countries weigh whether to increase production further in the coming months. The oil cartel is scheduled to meet online next week to decide its production policy for August and beyond, after boosting output from May to July.“We have also a role in taming and containing inflation,
Despite an unprecedentedly difficult year, the Chinese film industry has come roaring back. In August 2020, China became the first country in the world to achieve “full box office recovery,” according to the U.K.-based industry analytics firm Gower Street. Remarkably, Chinese box office data as of mid-June 2021 is tracking 1% ahead of the same […]
(Bloomberg) -- The bosses of some of the world’s biggest oil companies said crude prices are likely to keep rising because a lack of investment will curtail future supply.The chief executive officers of Royal Dutch Shell Plc and TotalEnergies SE joined major commodity traders and banks in predicting that oil could go as high as $100 a barrel, although they also said volatile markets could drive prices back down again.Low investment is “going to exacerbate supply and demand tightness as the econo
(Bloomberg) -- Bitmain Technologies Ltd. has suspended sales of machines for spot delivery globally, aiming to prop up local prices after crypto miners fleeing Beijing’s crackdown dumped used mining rigs on the market.The world’s biggest maker of Bitcoin machines told the local mining community Wednesday it has stopped selling new equipment after prices for top-tier rigs plunged by about 75% since April. By postponing sales, it could help miners exiting the industry get better prices for their m
(Bloomberg) -- Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here.Major metals supplier Russia plans temporary taxes on steel, nickel, aluminum and copper exports to help cool domestic inflation after prices surged amid a broad-based commodities rally.The government is proposing that a duty of at least 15% will be effective from Aug. 1 through year-end, with each metal also having a specific duty, Economy Minister Maxim Reshetnikov said
One of the world’s largest Bitcoin mining-rig manufacturers, Bitmain Technologies Ltd, has suspended sales of machines as clients free the market.
Freight technology startup, Forto, which we most recently covered when it raised $50 million late last year, is upping the stakes. It’s now raised $240 million in a round led by SoftBank Vision Fund 2 to expand its trade shipments between China and Europe. Forto manages shipping containers from origin to destination.
Energy companies like MRO, FANG, DVN, OXY, EOG, HES and XOM have seen solid gains this year. Year to date, all of these stocks are up anywhere between 55% and 104%.
(Bloomberg) -- Oil pared gains with technical indicators showing the commodity is overbought, while traders assessed depleting U.S. stockpiles.Futures in New York closed 0.3% higher on Wednesday with West Texas Intermediate’s 14-day Relative Strength Index clinging near 70, a level that signals oil is due for a pullback. Meanwhile, a U.S. government report earlier showed crude supplies, gasoline inventories and stockpiles at the nation’s largest storage hub at Cushing, Oklahoma, all tumbled last
By Samuel Indyk
- Business Insider
The price of air con has shot up by 15% and companies are taking longer to install units because of a lack of staff and a shortage of components, according to a report
Demand for air-condition is booming, but the industry faces a shortage of both key components and staff to install units, experts told Fox Business.