Afternoon Coffee: Weak Business Data in Latest PMI, Low Oil Prices Spark M&A Interest in Pipeline industry

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The latest Purchasing Managers’ Index shows a lackluster business outlook for June, with business conditions improving at their slowest pace since October 2013 and manufacturing production volumes hitting a low not seen since January 2014.

Low oil prices have sparked new interest in merger and acquisition activity among US pipeline owners and operators. Larger operators are reportedly increasingly eyeing buyouts of smaller firms.

On the topic of oil transportation, charges were officially filed Monday against a number of people and companies allegedly involved in the fatal 2013 oil train derailment in the Quebec town of Lac-Megantic. The train, which was carrying crude oil, also may not have had its handbrakes applied, another report shows.

General Mills will remove artificial colors and flavors from its all of its cereals in the next several years. About 40% of the company’s cereals still use artificial colors and flavors.

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