News UPDATE

The semiconductor industry could serve as the poster child for global trade. Chips designed by U.S. West Coast technology companies are developed in Taiwan and ...

The U.S. Global refined oil product markets are on track to remain tight until mid-decade, with the global downstream industry facing significant near-, medium- and long-term challenges, according to a new report by S&P Global and the International Energy Forum. "With Governor Murphy's announcement that New Jersey will again raise its offshore wind goal, increasing its target from 7.5 GW by 2035 to 11 GW by 2040, the state has solidified itself as a national leader in driving forward this fast-growing industry," John Begala, vice president of federal and state policy of the Business Network for Offshore Wind, said in a statement emailed Sept. Evidence of this was also seen in August, when volumes were the third lowest so far in the year despite seeing a month-on-month growth. The Private equity appeared on track to maintain the record-setting fundraising pace set by the asset class last year. In the U.S. Forward-looking indicators, such as new order inflows, backlogs of work and future output expectations, point to the decline gathering further momentum in coming months. While the global supply chain for semiconductors may be undergoing upheaval, the outlook for electronics demand looks healthy. Luckily for the electronics industry, a backlog for key electronics products such as semiconductors will likely keep earnings strong through the end of the year. In the past two years, consumer electronics for remote working and home entertainment drove up the prices of semiconductors. But the same factors that have dragged on global trade over the past few years — geopolitical tensions, pandemic restrictions and economic slowdown — are threatening an industry that has built its success on a widely distributed supply chain.