American Dollar to Canadian Dollar = 0.761051; American Dollar to Chinese Yuan = 0.142672; American Dollar to Euro = 1.109935; American Dollar to Japanese Yen = 0.009148; American Dollar to Mexican Peso = 0.052761.
Oil prices were set for a third straight weekly gain despite a Friday fall after easing U.S.-China trade tensions lifted business confidence and the outlook for global economic growth. China on Thursday announced a list of import tariff exemptions for six oil and chemical products from the United States, days after Washington and Beijing said an interim trade deal is set to be signed in January. Most major economies have likely averted recession for now but growth will remain subdued in 2020, Reuters polls forecast.
In recognition of the overall sustainability contributions of its Transit Packaging Division, Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com) has honored three facilities with a Chairman's Sustainability Award. Three additional plants were recognized as runners-up for their efforts. The six Transit Packaging facilities join three of Crown's metal packaging plants and the Company's Brazilian operations, which were recognized for excelling in sustainability activities during the 2017 and 2018 fiscal years. Crown's stretch film facility in Virton, Belgium was awarded for its investment in a reclaim line that enabled 90% of its waste to be reprocessed and upcycled into usable material. The plant also utilized eco-innovation to help a customer reduce its environmental footprint by 60%. The team also made significant progress across multiple ESG metrics over a three-year period, including a 62% reduction in its CO2 footprint, a 45% reduction in water usage and waste disposal savings of $50,000. The plant has also set a precedent by committing to a voluntary agreement with its local region to reduce energy consumption by 7.2% within the next five years through the Horizon 2020 program.
The Province’s initiative to increase efficiency and accountability in the New Brunswick private wood market is something we fully support as well as increased transparency on Crown land. This is the right thing to do for New Brunswickers. Private woodlot owners and producers are vital partners in sustaining mills and thousands of jobs across New Brunswick. Wood is the ultimate renewable resource. Global demand for products made from wood is expected to grow 30% per year as people focus on low carbon solutions to fight climate change, green building products that sequester carbon and a shift away from single use plastics. New Brunswick is ideally positioned to meet this demand with sustainably managed and resilient forests. After close to 40 years of tree planting and over $450 million in silviculture investments on Crown land, New Brunswick’s Crown wood supply could be sustainably increased. We believe New Brunswicker’s deserve to see the maximum environmental and economic benefits on their investment.
As the decade draws to a close, it’s time to again acknowledge the power of flat-footed erotica: The NPD Group reports that “Fifty Shades of Grey” is the best-selling book of the decade. The E.L. James title sold 15.2 million copies between 2010 and 2019. More depressing? The second-biggest seller is the sequel, “Fifty Shades Darker,” at 10.2 million copies. And the third is “Fifty Shades Freed,” at 9.3 million. Perhaps the biggest winner is books themselves, with 6.5 billion in print sold in the decade. That compares to just 1.8 billion e-books, which many expected to pulverize sales of paper books. “After a high point in 2013, e-books have continuously lost share to print books every year,” says Kristen McLean, books industry analyst, NPD Bookscan, in the announcement.
Metsä Board will modernise its board machine finishing area at Kyro mill in Kyroskoski. The rebuild includes a new reeler, winder and renewal of the reel broke handling system. Metsä Board’s Kyro mill produces high quality coated folding boxboard and the new eco-barrier paperboard. The investment value is EUR 20 million and the new machinery is scheduled to start up during autumn 2021. The annual production capacity of Metsä Board Kyro mill is 190,000 tonnes.
Revenues from continuing operations for the quarter were $5.46 billion compared to revenues from continuing operations of $5.45 billion in the prior year's quarter. Retail Pharmacy Segment revenues were $3.91 billion and decreased 1.7 percent compared to the prior year period due to a reduction in store count. Retail Pharmacy Segment same store sales from continuing operations for the third quarter decreased 0.1 percent over the prior year period, consisting of a 0.1 percent increase in pharmacy sales and a 0.5 percent decrease in front-end sales. Net income from continuing operations was $52.3 million or $0.98 per share compared to last year's third quarter net loss from continuing operations of $17.3 million or $0.33 per share.
Suzano announced investments of R$933.4 million in three projects in Espírito Santo state. The company’s plans include the construction of a tissue paper conversion unit, retrofit work in the unit located in Aracruz, as well as expansion of Suzano’s forest base in the state. The three projects should create nearly 900 jobs during the construction phase, which will be possible through the use of ICMS tax credits accrued by Suzano due to its essentially exporting activities in the state. With these investments, Suzano aims to strengthen its relationship with Espírito Santo and maximize its contribution to the region’s development.
Tucked along the Rivière du Nord less than 30 miles northwest of Montreal is the suburban town of Saint-Jérôme, home of the only paper mill in North America fueled mainly by biogas energy from a local landfill. The mill is operated by Rolland, Inc., and produces recycled papers with what parent company Sustana calls "the industry’s smallest environmental footprint." According to Sustana Group Senior Vice President of Sales and Marketing Renée Yardley, the focus on sustainability is part of the company’s DNA. "As a forest products company, we’re focused on natural resources; environmental stewardship is extremely important to the entire industry. As a recycled fiber and recycled paper company, we’re recycling those resources, and we also need natural resources to enter the value chain to continue the cycle." "But sustainability goes beyond environmental performance," she continues. "In the fall of 2018, we finished our Sustainability Plan, and we’ve moved beyond simply focusing on ‘the environment.’ We have very specific objectives. Of course the environment is part of the plan, but we also address the social aspect, focusing on our employees and the community; and the circular value chain, an area where we believe we can have a big impact."
Meredith Corporation announced that it has begun making Cooking Light available for home delivery via the Meredith Magazine Store, beginning with the Winter 2020 issue. The quarterly continues to be available at newsstands with a $11.99 cover price. This follows Meredith's announcement last month of sister brand Coastal Living's return to a subscription model. "We're thrilled to provide annual and biannual subscriptions to readers of this special interest themed food brand," said Doug Olson, President, Meredith Magazines. "This consumer-driven model is a profitable approach that underlines the appeal and desirability of a great product and the power of print. As we create innovative ways to connect with consumers across channels, it's exciting that the immersive experiences our print products offer continue to resonate with existing and new audiences."