National Average Price for Regular – Current: $2.838; Month Ago: $2.862; Year Ago: $2.449. National Average Price for Diesel – Current: $3.159; Month Ago: $3.154; Year Ago: $2.565.
American Dollar to Canadian Dollar = 0.767354; American Dollar to Chinese Yuan = 0.146235; American Dollar to Euro = 1.164805; American Dollar to Japanese Yen = 0.009024; American Dollar to Mexican Peso = 0.052120.
WTI crude oil prices settled higher Thursday as traders continued to cheer a bullish U.S. petroleum report from a day earlier and signs of tightening global crude supplies amid falling Iranian exports. Crude oil prices remained on track to post a monthly gain as a sharp drop in U.S. inventories and disruptions to Iranian crude exports has renewed investor bets on a possible shortage in global oil supplies, which would support oil prices. Iran's oil exports are expected to drop from 2.7 million barrels per day (bpd) in June to just 1.5 million bpd in September, The Wall Street Journal reported earlier this week. Click Read More below for additional information.
Anil Narang and Carl Wistreich—chairman and CEO, respectively, of AC Business Media—have sold their majority stake in the Wisconsin-based trade magazine publisher to Florida-based private equity firm Boyne Capital, the two sides announced Thursday. Concurrent with the sale, former Grand View Media exec Barry Lovette is joining ACBM as its new CEO, effective immediately. Terms of the deal were not disclosed. Click Read More below for additional information.
Forest Products Association of Canada CEO Derek Nighbor issued the following statement in response to the release of new mandate letters that instruct the priorities of the federal Cabinet. “On behalf of Canada’s forest products sector and its workforce, FPAC engages every day with senior levels of government to call attention to issues of significant interest and concern in order to collectively advance opportunities for Canadian forestry and our workers across the country. The new mandate letters released yesterday suggest the federal government is prepared to address a number of priority areas important to Canadians working in Canada’s forest sector – with the majority of these 230,000 family-supporting jobs being in communities across rural and northern Canada. Click Read More below for additional information.
Please be advised that, effective with shipments on or after October1, 2018, Resolute Forest Products will raise its SC paper prices. The products impacted by the price increase include, but are not limited to, the following: ResoluteSCA+; ResoluteSCA; ResoluteSCB; ResoluteSNC. The increases will be applicable to all basis weights and finishes, and all up charges apply.
Revenue at Penguin Random House fell 3.3% in the first half of 2018 compared to the same period a year ago, dropping to €1.48 billion from €1.53 billion a year ago, parent company Bertelsmann reported. Earnings fell 17.0%, from the first six months of 2017, with EBITDA (earnings before interest, taxes, depreciation, and amortization) declining to €171 million. Both Bertelsmann and PRH chairman Markus Dohle attributed the decline in results, in large part, to the negative impact of exchange rates. In his letter to employees, Dohle explained that while “headline” figures were down, excluding the impact of exchange rates “underlying operating revenue and profit numbers for Penguin Random House in U.S. dollars have been stable year over year. This means that the quality of our business and our earnings have been on the same—high—level as in the prior year. Our core business remains very strong globally.” Click Read More below for additional information.
For the Second Quarter of Fiscal 2018 • Net sales increased 15.4% to $1,488.2 million compared to $1,289.9 million in the second quarter of fiscal 2017; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 6.5% compared to an increase of 11.7% in the second quarter of fiscal 2017. The 6.5% comparable sales increase was driven by 3.1% transaction growth and 3.4% growth in average ticket; • Gross profit as a percentage of net sales decreased 40 basis points to 36.0% compared to 36.4% in the second quarter of fiscal 2017, due to category and channel mix shifts and investments in our salon services and supply chain operations, partially offset by the impact of new revenue recognition accounting; Click Read More below for additional information.
Quantum announced that Quantum chief executive officer Cheryl Kahanec has been named to the 2018 Printing Impressions/Rochester Institute of Technology (RIT) Printing Industry Hall of Fame. Kahanec, a top industry innovator who joined Quantum in February 2018, has more than 35 years of experience in the marketing communications and digital print industry, including transitioning traditional print companies into early digital success stories. She has driven Quantum’s strategic vision to continue to develop integrated and innovative solutions to help marketers succeed in today’s technology and data-driven marketplace. Click Read More below for additional information.
• Q2 sales revenue amounted to PLN 792,4mn (EUR1 187,8mn). • EBITDA Q2 amounted to PLN 66,8mn (EUR1 15,8mn). • EBIT Q2 was PLN 45,5mn (EUR1 10,8mn). • Price increases have not offset the rising pulp prices during the period. • Speciality products share of sales have slightly increased, which is in line with the strategy. Click Read More below for additional information.