Analysis: India’s limping economy threatens to undermine commodity markets

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Singapore — India’s economy has shifted into lower gear since the country’s general election, posting its slowest growth in six years for the April-June quarter and taking a toll on energy and commodity markets that were already grappling with an ailing automotive sector and a lack of liquidity. Not registered? Receive daily […]

Read the source article at Global Rubber Markets News

Ford Gives Majority Control of India Operations to Mahindra

Ford is selling its India assembly plants to Mahindra and entering a joint venture with the automaker, effectively ending the U.S. brand’s independence in India after 24 years. In September 2017, months after General Motors announced it would pull out of India by that year’s end, Ford sought Mahindra to help Ford’s distribution within the country and co-develop new vehicles for India and emerging markets.

Read the source article at Car Reviews

Corporate bond to finance Environ’s ownership of recycling plants

Scandinavian Enviro Systems (Enviro) is developing a public, international corporate bond to finance the company’s ownership of forthcoming recycling plants for end-of-life vehicle tyres. The work to develop the bond is being carried out in collaboration with the London-based financial adviser, Zenzic Partners.

Read the source article at Tyrepress

Don’t Bank on a Global Recession Just Yet, BIS Chief Says

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(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here.  The world economy isn’t yet on the cusp of a global recession, according to the head of the Bank for International Settlements, often referred to as the central bankers’ central bank. “It has certainly slowed down. […]

Read the source article at Global Rubber Markets News

Toyo’s global goals include market-share growth in North America

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HYOGO, Japan — Toyo Tire Corp.’s decision to build a tire plant in Europe will play a pivotal role in the firm’s growth strategy for the next four years, plans that call for raising the company’s global production capacity by 8 million units a year and improving its market-share position in North America.

Read the source article at Tire Business

Autonomous Vehicles: Holy Grail or Poisoned Chalice?

The quest for autonomous vehicle technology has no shortage of eager participants. In recent years, startups and established businesses alike have poured billions of dollars into developing a host of technologies that will, hopefully, one day unlock the secrets of level five autonomy, i.e., self-driving cars that are better and safer than human drivers in all conditions.

 

Read the source article at Value Investing

Goodyear to Present at Morgan Stanley Investor Conference

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AKRON, OhioSept. 3, 2019 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) today said it will webcast its presentation at the 2019 Morgan Stanley Investor Conference in Laguna, California, on Sept. 11, 2019.

Darren R. Wells, executive vice president and chief financial officer, will provide a business overview. A live, audio-only webcast of the presentation will be available at 12:20 p.m. EDT (9:20 a.m. PDT) on the company’s investor relations website: http://investor.goodyear.com. A replay of the webcast will be available following the event.

Read the source article at PR Newswire

Trinseo SR business’ earnings more than halved in second quarter

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BERWYN, Pa.—Lower sales volumes and weak market conditions have contributed to a drop in second quarter earnings within Trinseo’s synthetic rubber unit.

Read the source article at Rubber and Plastics News

Central Europe slowdown impact Nokian results

Nokia, Finland – Nokian Tyres plc has reported a 12.5% year-on-year decline in first half operating profit at €148 million, on 0.3% lower sales of €763 million.

The Finnish tire maker linked the decline in sales to weak car and tire sectors in Europe, which offset gains in the heavy tire segment during the first six months of the year.

“The competitive landscape in the Central European replacement car tire market is tight due to weakness in the OE segment, as there is a high supply of…

Read the source article at European Rubber Journal

Bridgestone downgrades fiscal forecast after 1st-half declines

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TOKYO — Bridgestone Corp. has revised downward its earnings and sales forecasts for the full fiscal year after reporting a 20.6% drop in first-half operating income along with lower sales.

Read the source article at Tire Business