US bans sale of some Chinese communications tech

The US has banned the sale and import of new communications equipment from five Chinese companies, including Huawei and ZTE, amid concerns over national security.   Other companies listed include Hikvision, Dahua and Hytera, which make video surveillance equipment and two-way radio systems.   It is the first time US regulators have taken such a […]

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Computer chip shortage reduces UK car production

Car maker Jaguar Land Rover (JLR) is reducing output at its UK factories in Solihull and Halewood until the spring, due to ongoing problems obtaining enough computer chips for new vehicles.   The action is expected to affect the output of models such as the Jaguar F-Pace and Land Rover Discovery Sport.   The move […]

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OECD issues warning on UK economy

The UK economy will suffer a bigger blow from the global energy crisis than other leading nations, according to international body the Organisation for Economic Cooperation and Development.   The UK will contract by more than any other nation in the G7 group next year, it said.   Growth in the US and the eurozone […]

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LyondellBasell to progress recycling Plant in Germany

LyondellBasell have announced plans to build an advanced recycling plant at its Wesseling, Germany, site.   Their press release reads:   “Using LyondellBasell’s proprietary MoReTec technology, this commercial scale advanced recycling plant would convert pre-treated plastic waste into feedstock for new plastic production.  The final investment decision is targeted for the end of 2023.   […]

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UK government says Chinese ownership of microchip plant a ‘security risk’

The takeover of Britain’s largest microchip plant by a Chinese-owned company must be reversed, the UK government has said.   Newport Wafer Fab was acquired by Dutch-based technology company Nexperia, a subsidiary of Shanghai listed Wingtech, in July 2021.   However, Nexperia must now sell 86% of its stake “to mitigate the risk national security” […]

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China calls for military veterans to work at iPhone factory

China wants retired military staff to help boost production at the world’s largest iPhone factory in Zhengzhou.   The call came from a Veteran Affairs Bureau of the People’s Liberation Army in the same province as the plant.   Output at the Foxconn factory has been hit by a local Covid outbreak.   In an […]

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Japan’s economy shrinks after yen slide

Japan’s economy has unexpectedly shrunk for the first time in a year as the rising cost of living hit consumer spending growth.   GDP fell by an annualised 1.2% in the three months to the end of September.   People reined in spending amid fears of a global slowdown and as the weak yen made […]

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European, Asian and US polymers fall. WTI and Brent Crude fall

European polymer prices fell over the week to 11th November. There were reductions of between 20 and 70 EUR per tonne reported in the prices of PET, PVC, ABS and Polystyrene. In the UK, prices rose across some grades as the Pound lost value against the Euro.   Asian polymers fell with reductions of between […]

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