Afternoon Coffee: Walmart’s first training center; currency devaluation reverses steel price spread; U.S. to stay in postal union

grafikplusfoto/Adobe Stock

The U.S. is not leaving the Universal Postal Union after all. The U.N. agency linking global postal systems has agreed to reform its fee structure under a proposal by the U.S. On the flip side, consumers may not have to pay more. the Union’s emergency congress came up with the compromise formula by consensus after two days of talks, reports Reuters.

Chinese Currency Devaluation Helps Reverse Steel Price Spread

Our sister site MetalMiner this morning reported that "since currency dynamics shifted recently, now is a good time to take a more tactical look at the U.S.-China steel price spread."

According to the article, "the price spread between U.S. and Chinese steel increased during the months following the March 2018 implementation of tariffs on steel imports into the U.S.," and that now "the primary reason to pay attention to Chinese steel prices pertains to the country’s price leadership in the global marketplace."

New regulation expectation hits tobacco company’s earnings

The backlash against vaping has hit another tobacco company. Imperial Brands Plc said earnings growth ground to a halt after a drastic slowdown in revenue. Imperial’s shares plunged as much as 12% Thursday. The Trump administration had said that it would soon remove all flavored e-cigarette nicotine pods from the market. They will only be let back after gaining approval from the Food and Drug Administration, reports Bloomberg.

Walmart opens first training center in Texas

Walmart is opening training centers in its distribution centers, beginning with the first one in Texas. A group of 50 managers will graduate Friday from the new academy in Sanger, which is north of Dallas in Denton County, reports Dallas News.

"We started this concept of investing in our employees about three years ago, and we've seen success with it," said Steve Miller, vice president of Walmart supply chain, as quoted by the news outlet. "The needs of our associates in supply chain are evolving, and we want to set them up for success. Skills needed today are different than 15 or 20 years ago, and as we recruit them, we want them to have fulfilling jobs."

China's rare earth magnets exports to U.S. hit record high

For August, China’s exports of rare earth magnets to the U.S. rose to the highest level since at least 2016. Shipments to the United States rose 1.2% from a month earlier to 452,473 kg, or around 452 tons, according to data from the General Administration of Customs, reports Reuters.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.