Amazon.com, Inc. announced plans to open its second Oregon fulfillment center in Salem, which will create more than 1,000 full-time positions. The company recently announced an upcoming fulfillment center in Troutdale and it currently operates a sortation center in Hillsboro and Prime Now hub in Portland. Additionally, there are more than 40,000 authors, sellers, and developers in Oregon growing their businesses and reaching new customers via Amazon products and services. “We are excited to continue growing in Oregon, creating 1,000 full-time jobs in Salem,” said Sanjay Shah, Amazon’s Vice President of North America Customer Fulfillment. “The support of Governor Brown, local leaders, and many others have been instrumental in our decision to locate the new fulfillment center in the state capital, and we are grateful for the support we’ve received to bring new jobs and investment to Oregon.” Click Read More below for additional detail.
Motor fuel prices fell 0.7 percent in New York, while crude futures slipped from the lowest closing level in five weeks. Valero Energy Corp. and Citgo Petroleum Corp. were said to be preparing to restart their refineries in Corpus Christi after Harvey moved through over the weekend. The storm, which made landfall on Friday, is poised to regain strength before crashing ashore again near the Texas-Louisiana border on Wednesday. “It is a question of the market reassessing the risk to refineries while also concluding we are past the peak season in terms of demand,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. “We are seasonally heading towards a lower demand period which means that any signs of things beginning to normalize could have quite a negative impact on prices.” Click Read More below for additional detail.
For the second quarter ended 30 June 2017, Lecta had revenue of €360.7 million versus €357.6 million in the second quarter ended 30 June 2016, an increase of €3.1 million or +1%. This increase was attributable to: • Lower sales of CWF, Specialties and Purchased Products of €-4.6 million or -1%, from €341.6 million in 2Q2016 to €337.0 million in 2Q2017, resulting from lower sales volumes of 500 metric tons or -0%, 377,000 metric tons in 2Q2017 vs 377,500 metric tons in 2Q2016, and a decrease in average net sales price of -11€/t or -1%, 894€/t in 2Q2017 vs 905€/t in 2Q2016; and • Higher sales of energy of €+7.7 million or +48%, from €16.0 million in 2Q2016 to €23.7 million in 2Q2017, resulting from higher sales volumes of 10,000 MWh or +4%, 271,500 MWh in 2Q2017 vs 261,500 MWh in 2Q2016, and an increase in average sales price of +26€/MWh or +42%, 87€/MWh in 2Q2017 vs 61€/MWh in 2Q2016. The costs of raw materials and consumables used increased by €7.0 million, or +4%, from €182.5 million in 2Q2016 to €189.5 million in 2Q2017, and as a percentage of revenue they increased from 51.0% in 2Q2016 to 52.5% in 2Q2017. The absolute increase was mainly attributable to higher purchased volumes, and an increase in the average consumption prices of pulp of +38€/t and latex from 2Q2016 to 2Q2017. Click Read More below for additional detail.
When Domino Media Group CEO Nathan Coyle was talking to Domino about its open CEO position last year, he wanted to ensure he could produce growth if he joined. He flipped through Domino magazine for inspiration, noticing people on nearly every page. Despite Domino’s reputation as a shelter title, talking home design, Coyle realized, “it’s also about the cool person that lives there.” He saw that as the opportunity. Readers flock to the magazine in order to find tips and tricks for their home décor, but they also see the person living in the chic home. Coyle believed they want to know more about that person, whether it’s where she goes for brunch, where she works out or where she shops. It was an epiphany: Domino would “have license to extend into adjacent categories.” Coyle had his plan and he took the job. Click Read More below for more of the story.
The final piece of the new Mount Fuji World Heritage Center in Japan is soon to be revealed. And the best part? The stunning structure is made from locally sourced wood from PEFC/SGEC-certified forests! Built with local Japanese cypress wood, the striking latticework structure resembles Mount Fuji upside-down. It is also the first construction project in Japan to achieve PEFC project certification. “We pioneered PEFC project certification to ensure that fantastic constructions such as this are able to take advantage of PEFC certification and demonstrate their sustainable credentials,” said Ben Gunneberg, CEO of PEFC International. PEFC project certification provides independent verification that the building was constructed with certified timber, without the need for all sub-contractors to be certified. Click Read More below for additional detail.
The U.S. Postal Service (USPS) is planning to raise virtually all rates a bit in January, apparently including a one-cent hike of the Forever Stamp, to 50 cents. And it’s also hoping it will soon get the power to implement larger rate hikes. The USPS will raise rates for both market-dominant mail (such as First Class and Marketing Mail) and competitive mail (such as Priority Mail) on Jan. 21, 2018, postal officials told mailing-industry representatives this week. A postal official indicated that rates would rise from 1% to 3% for most market-dominant products, according to attendees at a meeting of the Mailers Technical Advisory Committee. Click Read More below for more of the story.
NORPAC announced that they will raise the price of their Norbrite grades by $35.00 per short ton ($1.75/cwt) effective with shipments/invoices on or after October 1, 2017. Specific grades affected by this change in pricing include: Norbrite 65 ;Norbrite 70; Norbrite 75; Norbrite Plus; Norbrite Offset; Norbrite 92 Max; Norbrite Book Blue White; Norbrite Book Cream; Norbrite Hybrid
Please be advised that, effective with shipments October 1, 2017, the US transaction pricing from Catalyst Paper will increase $1.75/cwt ($35/short ton) for the following products: Electrabrite; Electrabrite Book; Electrastar. This increase applies to all basis weights, finishes and brightness.
Gasoline surged to the highest in two years and oil declined as flooding from Tropical Storm Harvey inundated refining centers along the Texas coast, shutting more than 10 percent of U.S. fuel-making capacity. Motor fuel prices rose as much as 6.8 percent, while New York oil futures slipped 0.9 percent. Harvey, the strongest storm to hit the U.S. since 2004, made landfall as a hurricane Friday, flooding cities and shutting plants able to process some 2.26 million barrels of oil a day. Pipelines were closed, potentially stranding crude in West Texas and interrupting gasoline supply. Click Read More below for more of the story.
Gap Inc. today announced the opening of its new Gap flagship store on West Nanjing Road in Shanghai, its biggest flagship to date in the Greater China region. Featuring Gap’s full apparel collections and latest store design elements, the new flagship store underscores the importance of the China market for the company and its commitment to better serving Chinese customers. Additionally, the company will move its China retail headquarters team into the office space being created above the store in 2018. Located at No. 863 West Nanjing Road in Shanghai’s busiest commercial district, the 1908 square-meter and two-story flagship store is Gap’s largest in Greater China. The store showcases Gap’s contemporary store concept developed jointly by the company’s local and global store design teams and takes design inspiration both from the brand’s early heritage as well as new modern elements. Click Read More below for more of the story.