Forest Products Industry
Goldman Sachs is working with Tesla on its bid to go private, the bank confirmed Wednesday. It's still unclear whether there was a formal agreement when Elon Musk tweeted about working with the Wall Street firm. Follow Tesla's stock price in real-time here.
Chinese technology giant Tencent Holdings Ltd has "no clarity" on when it may get approval to start charging for its most popular game, it said on Wednesday, after reporting its first quarterly profit fall in nearly 13 years on weak gaming revenue. Company president Martin Lau said "the biggest issue" before Tencent could return to rapid revenue growth was to gain regulatory approval to start charging for its PlayerUnknowns' Battlegrounds (PUBG) video game in China, while confirming a sector-wide freeze for new game approvals in the world's largest gaming market due to a government restructuring. Tencent's profit in April-June fell 2 percent year-on-year to 17.87 billion yuan ($2.59 billion), while revenue grew 30 percent, the slowest in three years, to 73.68 billion yuan, with sequential declines in both mobile and PC games.
Atlantia Spa’s Autostrade arm will hold an emergency meeting as top executives come under pressure to quit after dozens died when an Italian bridge it operated collapsed, people with knowledge of the matter said. The extraordinary board meeting is expected to be held next week to consider the impact of the disaster in Genoa, which killed at least 39 people. Directors of Atlantia, whose Chief Executive Officer Giovanni Castellucci has become a focus of anger over the tragedy, may also meet, according to the people, who asked not to be named as the plans aren’t public.
Cisco Systems (NASDAQ: CSCO ) announces its next round of earnings this Wednesday. Here's Benzinga's advanced look at Cisco Systems' Q4 earnings report. Earnings and Revenue Based on Cisco Systems management ...
Western U.S. sawmills produced 7.406 billion board ft. (bbf) of softwood lumber in the first half of 2018, a 7.1% increase from 6.915 bbf in the first six months of 2017, the Western Wood Products Assn. (WWPA) of Portland, Oregon, reported.
Of the six-month total, Coastal mills accounted for 4.678 bbf, up 8.1% from 4.326 bbf last year, while inland mills produced 2.517 bbf, up 6.8% from 2.356 bbf in the first half of 2017. California redwood production dropped to 212 million board ft. (mmbf), down 9.4% from 234 mmbf in the previous year.
In June alone, Western U.S. sawmills produced 1.226 bbf, a decline of 1.0% from 1.239 bbf in the year before, and down 4.3% from 1.281 bbf in May 2018.
Coastal mills contributed 766 mmbf to June’s output, a year-over-year gain of 0.7% from 770 mmbf, but down 3.6% from 805 mmbf in May 2018. Inland mills accounted for 408 mmbf – down 3.3% from 422 mmbf a year earlier, and down 5.8% from 433 mmbf in the previous month.
California redwood production in June was 43 mmbf, an 8.9% year-over-year drop from 47 mmbf, and 1.1% lower that output in May 2018 of 43 mmbf.
Western softwood lumber inventories in June grew 5.4% to 1.231 bbf from last year’s 1.167 bbf.
Production as a percent of practical capacity was 83% in June, level with 83% in May 2018 and up from 80% in June last year. Average production as a percent of practical capacity for the six months to June was 83%, up from 77% in the first half of 2017.
The post Western U.S. sawmills produced 7.1% more lumber in H1/2018 appeared first on International Forest Industries.
Constellation Brands Inc., which for seven decades has made its money off beer, wine and whiskey, sees its future in a marijuana leaf. In the biggest (legal) cannabis deal, the Victor, New York-based beverage company will spend about $3.8 billion to boost its stake in Canadian grower Canopy Growth Corp., betting legalization will gain traction around the world and especially in the U.S. “This is rocket fuel,” Canopy Chief Executive Officer Bruce Linton said on the company’s earnings call Wednesday.
In June 2018, an all-time high volume of 5.1 million m3 of roundwood was harvested for use by the forest industries in Finland. This logging volume was 29% up over the previous year and 52% up over the ten-year June average, reports Natural Resource Institute Finland (Luke).
Sawlogs accounted for 2.1 million m3 and pulpwood for 3.0 million m3 out of the total roundwood harvested for the industrial purposes.
Industrial roundwood logging volumes from forests in non-industrial private ownership were 3.9 million m3. The Finnish forest industry companies and the state harvested 1.1 million m3 of roundwood from their forests.
Besides, in June 2018, 333,000 m3 of wood was harvested in Finland for energy production.
In Sweden, notified area of final felling increased by 14% in June and by 4% in July, compared to corresponding months of last year, reports the Swedish Forest Agency.
Quarterly statistics during the year shows an increase of 34% in the second quarter of 2018 compared with the first quarter 2018. The second quarter of 2018, compared to the corresponding quarter of 2017, notified area of final felling increased by 7%.
The 14% increase in June corresponds to a total notified area of final felling to 30,136 hectares. This is the largest increase in June since 2012.
On the county level, notified area of final felling increased in 16 of 21 counties. The largest increase in notified area of final felling was reported in Västmanland by 50%, Stockholm by 44% and Västernorrland by 39%. The largest decrease was reported in Södermanland by -34%, Skåne by -27% och Örebro by -14%. On the regional level, notified area of final felling increased in all four regions.
In July 2018, the increase was lower in total notified area of final felling. The increase of 4% amounted to a total of 20,541 hectares. This is the largest increase in July since 2011.
On the county level, notified area of final felling increased in 11 of 21 counties. The largest increase in notified area of final felling was reported in Uppsala by 86% and in Östergötaland by 52%. The largest decrease was reported in in Västmanland by 48% and in Skåne by 44%. On the regional level, there was increase in Northern Sweden (Norra Norrland) by 8% and Central Sweden (Svealand) by 22% respective 22%. There was a decline in South of Northern Sweden (Södra Norrland) by two% and South Sweden (Götaland) by 8%.
During the first seven months of 2018, compared with 2017, there is an increase of 5% of notified area of final felling.
The post Sweden: continued increase in notified area of final felling during June and July appeared first on International Forest Industries.
Natural gas markets broke resistance again during trading on Tuesday, breaking above the $2.97 level. This is another strong sign, but at this point we still haven’t reached the major resistance barrier. That lies above.