Afternoon Coffee: Tesla Execs Leading New Supply Chain Recycling Firm, US to Allow Import of Argentine Lemons Stock

A new materials recycling company has two prominent leaders piquing the interest of Silicon Valley. As CNBC reports, Redwood Materials — which on its website says it focuses on "advanced technology and process development for materials recycling, remanufacturing, and reuse” in the supply chain — has named two Tesla executives as directors of the company.

While it is unclear whether Tesla has any direct involvement in the Redwood’s business, a relationship would seem to complement Tesla CEO Elon Musk’s drive for supply chain efficiency.

When Trade Negotiators Give You Lemons…

Try to make amends with the California citrus industry you just alienated. The U.S. Department of Agriculture said Monday it would lift the ban on lemons from Argentina starting May 26, the Los Angeles Times reported. This did not sit well with California citrus indsutry, which the LA Times said was “livid” and “completely blindsided” by the reversal.

U.K. Manufacturing 

Manufacturing growth hit a three-year high in the United Kindom in March, according to the BBC. The Markit/CIPS U.K. manufacturing Purchasing Managers' Index (PMI) rose to 57.3 from 54.2 in March, driven by solid demand from the domestic market and improvement in exports due to a weakened pound.

Fed Outlook

And finally, an update from the Federal Reserve. The most important thing expected to come out of this week’s meeting Fed’s big May meeting? Nothing. While the central bank will publish an economic outlook Wednesday, it is expected to hold off on another rate increase until June, the New York Times reports.

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