Oil fell to around $63 a barrel on Friday as concern over Greece and a forecast that U.S. shale oil output would keep growing this year countered signs of a pickup in demand. Greece has been less of a driver for oil than other markets such as equities, but analysts said the situation represented a bearish risk heading into the weekend. Euro zone leaders will hold an emergency summit on Monday to try to avert a Greek default. Brent crude LCOc1 for August had dropped $1.21 to $63.05 as of 8.33 a.m. EDT, while U.S. crude for July CLc1 was down 99 cents at $59.46. Both contracts made gains on Thursday.
National Average Price for Regular Unleaded Current: $2.799 Month Ago: $2.707 Year Ago: $3.675 National Average Price for Diesel Current: $2.863 Month Ago: $2.876 Year Ago: $3.895
American Dollar to Canadian Dollar = 0.814977 American Dollar to Chinese Yuan = 0.161115 American Dollar to Euro = 1.130816 American Dollar to Japanese Yen = 0.008117 American Dollar to Mexican Peso = 0.065350
Fujifilm North America, Graphic Systems Division recently hosted a Prime Label Technology Summit at its Chicago Technology Center, showcasing innovative packaging technology trends to invited attendees. Highly successful solutions were the focus at the two-day event, allowing experienced industry professionals hands-on demonstrations of the Graphium, a UV inkjet press for labels, packaging, and specialty print; along with learning more about the Flenex series, a new, innovative flexographic plate system. Attendees were able to get up close to the Graphium, a high-speed modular digital UV inkjet press with the option to integrate flexo and finishing stations for hybrid production and conversion in a single pass—greatly expanding the opportunities that can be converted. Graphium represents the next generation of UV inkjet press for labels, packaging and specialty print that enables profitable printing of short-run jobs while boosting productivity and providing the ability to produce new print options previously unavailable through traditional flexo technologies. Graphium makes converting short to medium print jobs more profitable, as the press streamlines workflow, requires less setup material, reduces waste and eliminates overruns.
EBay Inc. plans to select a buyer for its enterprise division by July 1, when the e-commerce company plans to officially split off its PayPal division, people familiar with the matter said. Private equity firm Thomas H. Lee Partners is one of the remaining bidders, said the people, who asked not to be named because the negotiations are private. A sale could value the unit between $1 billion and $1.5 billion, the people said. EBay rose 1.8% to $61.10 as of 2:09 p.m. in New York, giving it a market value of about $74 billion. EBay announced in January it would sell or conduct an initial public offering for the unit. The enterprise business helps retailers develop and run online shopping sites. EBay CEO John Donahoe said then that the unit had “limited synergies” with either eBay’s marketplace business or PayPal. “We’re exploring strategic alternatives,” EBay spokeswoman Johnna Hoff said without elaborating. A spokeswoman for TH Lee declined to comment. EBay Enterprise, previously called GSI Commerce, helps retailers sell clothing, sporting goods, toys and other products online by providing software, customer service and a network of warehouses and delivery partners that can reach 60 countries. EBay acquired GSI in 2011 for about $2 billion in an attempt to catch up to rival Amazon.com Inc.’s vast distribution network.
One of the world’s largest retailers has undertaken a search for a new CEO to execute a massive transformation. But getting to the interview will require U.S. executives to take a very long flight and the successful applicant will need good listening skills to decipher the accent of co-workers. With annual revenues last year of roughly $57 billion USD, Australia’s Woolworths Limited would rank as the 10th largest U.S. retailer ahead of notable companies such as Lowe’s, Sears Holdings, Best Buy and Macy’s. Now the company is looking for a new CEO after Grant O’Brien announced plans to step down after nearly four years in the top job and 28 years with the company. The interesting thing about his departure is that it was announced only one month after Woolworth Limited unveiled a three-year master plan to drive growth across its range of businesses. “At the recent investor day we set out clear strategies to grow our businesses over the next three years and we have been working hard to execute these plans. However, the recent performance has been disappointing and below expectations. I believe it is in the best interests of the company for new leadership to see these plans to fruition,” O’Brien said. “I approached the chairman and expressed to him that I am committed to a smooth transition to a new CEO and wanted to give the board sufficient time to consider its options.”
Wenner Media has laid off more than a dozen people across its three magazines: Rolling Stone, US Weekly and Men's Journal, according to a spokeswoman for the company. The spokeswoman declined to elaborate on the layoffs, but a Wenner staffer said the cuts occurred in the last few days and stretched across the editorial and business sides of the magazines. They were also equally weighted across all three titles, part of a shift in resources from print to digital, this person explained. Last year, Gus Wenner, the 24-year-old son of Rolling Stone co-founder and Wenner Media owner Jann Wenner, was given control of the company's digital arm. His responsibilities extend across both the editorial and business sides of the magazines' websites. Shifting budgets and headcount to digital is part of an ongoing trend in the magazine business as publishers chase readers and ad budgets earmarked for digital media.
The transformation in the global printing industry has created new challenges for the entire sector. To meet customers’ current and future requirements and maintain its leading position as the industry’s most reliable partner in the future, Heidelberger Druckmaschinen AG (Heidelberg) has also undergone a transformation and reoriented its corporate strategy accordingly. Heidelberg places the benefits to customers and their success at the center of all its activities. In addition to the traditional main markets of commercial and packaging printing, the product portfolio will also be geared further toward the global market’s future growth segments, especially digital printing, consumables, and services. This approach is now also reflected at the new Print Media Center (PMC) Commercial in Wiesloch-Walldorf and marks the start of the run-up to drupa in 2016. “The focus is no longer simply on equipment, but far more on the integrated overall process and all the requisite components,” explained Heidelberg CEO Dr. Gerold Linzbach. “The benefits we offer our customers are always our key consideration, because our own success depends on that of our customers,” he added.
Total Kraft paper shipments were 140.7 thousand short tons, less than 1 percent lower compared to May 2014. Bleached Kraft paper shipments decreased from 10.3 thousand tons in April 2015 to 8.4, while unbleached Kraft paper shipments remained essentially flat at 132.3 thousand short tons. Overall, shipments for the first five months of 2015 were 1.4 percent lower than the same period in 2014. Total month-end inventories increased to 81.5 thousand tons. The report can be purchased by contacting Caroline Nealon at Statistics_Publications@afandpa.org or 202-463-2448.
If you’re a parent, you’re familiar with dual roles. In fact, you probably play them all the time. From cuddling up with little ones on the couch to grounding your child after he receives a bad report card, you constantly have to be both soft and strong, kind and tough, vulnerable and resilient. And that’s what Angel Soft’s new marketing campaign is all about: Be Soft. Be Strong. The new Angel Soft ad debuting online this week celebrates single moms in an unconventional way; it’s called “Happy Father’s Day, Mom.” Melissa Blunte, brand manager for Angel Soft, puts it this way, “We wanted to use Father’s Day to acknowledge all the moms out there who have to play both roles. Even though life can sometimes feel like a balancing act, we’re a product you can always count on.” The campaign is a first in a series of unique stories we'll be sharing. Since dads are also both soft and strong every day, we anticipate that some of these future stories will focus on dads in a unique way.