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...Shares of aluminium producer Alcoa fell 5.4 per cent after it made a $2.2bn offer to acquire Australian mining corporation Alumina Limited....
...The benefit of reduced power costs was also evident in the group’s alumina refineries and aluminium smelters....
...“The EU has reached out to us with regards to evaluating how alumina refineries can contribute to a way out of this crisis,” said Nick Keramidas, executive director of EU affairs at the company....
...The request to add aluminium, alumina and bauxite comes as countries haggle over how to use legislation designed to power Europe’s green transition to support their national industries....
...There is excitement, too, about a new downtown headquarters of Sherwin-Williams, a paint company, and extended bike paths and overdue improvements to the lakefront....
...Rio announced a $1.2bn pre-tax impairment charge on Wednesday, including writing off the entire value of its Yarwun alumina refinery in Gladstone, Australia, due to the country’s new carbon credit legislation...
...The tie-up will give the Swiss miner and trader a 30 per cent stake in the Alunorte alumina refinery in Brazil, along with offtake rights from the project....
...Nagle has been expanding some areas of the metals business, including with an investment earlier this year in low-carbon alumina refining....
...The company, which is the fourth-largest aluminium producer outside China, has pushed back its forecast for a recovery in demand, which it now expects in the first quarter of 2024 at the earliest....
...Recommended reading I have just started reading Kai Bird and Martin Sherwin’s amazing book American Prometheus about Robert Oppenheimer. So, so well crafted. The pages fly by....
...co-owner Alumina) and mining and metals company South32 — could suffer a significant dent in their valuations if they fail to keep up with the shifting emissions baseline....
...As Norsk faces the energy crisis Aasheim is also seeking to rebuild the company’s operational performance after an environmental dispute in Brazil that halted production at the world’s largest alumina refinery...
...Sherwin-Williams, one of the largest US paint companies, said last week that it saw “a very challenging demand environment”....
...Sherwin-Williams (a paint company) joined the bad guidance gang yesterday: it said 2023 sales will be flat to down. The stock fell nearly 9 per cent....
...In addition to directing the film, Nolan also wrote the screenplay, which he based on the Pulitzer-winning, 700-page Oppenheimer biography American Prometheus by Kai Bird and Martin J Sherwin....
...While there have been exceptions (eg, Sherwin-Williams’ soft guidance), the tone among the consumer companies we keep an eye on has been notably positive....
...Sherwin-Williams, which sells paint, has a less dramatic chart than Cat: But the steady increases since 2011 reflect both a strong company and a steady recovery in housing....
...The group also raised $760mn from seven state-owned banks to build a copper-smelting plant and announced $7bn in alumina and iron ore projects....
...Other US companies: Companies reporting before the bell include General Electric, 3M, PepsiCo, UPS and Warner Bros....
...The search advertising company significantly undershot expectations....
...Rio Tinto will cut ties with all of its Russian customers as the Anglo-Australian mining company joins a growing list of companies reacting to the invasion of Ukraine....
...This came through a joint venture with miner Rio Tinto, Queensland Alumina Ltd. On Thursday, Rio said it had taken full control of the business....
...EN+ also said it was studying plans to spin off its international assets, which include bauxite mines in Guinea and an alumina factory in Ireland vital to European carmakers....
...In the energy sector, the crisis has forced companies to go under as rocketing prices have hit producers....
...US competitors PPG and Sherwin-Williams gave gloomier assessments on supply chain problems and inflation last month....
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