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VANCOUVER - The first commercial batch of made-in-Canada low-carbon aviation fuel sourced from non-food grade canola and tallow has been produced and quickly purchased. Fuel retailer Parkland Corp. said Tuesday it has successfully produced about 100,000 litres of the fuel at its refinery in Burnaby, B.C. “using existing infrastructure.” Parkland senior vice-president Ferio Pugliese said it means production can easily be scaled up, but only if Canada provides the necessary conditions to create an ecosystem around the nascent commodity and its adoption across the country. “We need to do more to make low-carbon air travel a reality,” Pugliese said during the announcement in Vancouver on Tuesday. “We need a long-term Canadian solution for low-carbon, sustainable aviation fuel.” While the potential for emission reduction is massive production in Canada is also significantly more expensive, Pugliese said. He notes that similar low-carbon fuels used in vehicles, buses and ferries have about one-eighth of the carbon content when compared to traditional fuels. Pugliese said other countries such as the United States incentivize production and use of low-carbon jet fuel, creating the necessary ecosystem to support a local industry. “Currently, the Canadian aviation industry purchases low-carbon aviation (fuel) from other countries and imports it from across the globe into Canada. That makes little sense.” Parkland began trying to develop the fuel in 2017, and the entire batch of the first production run has already been bought by Air Canada. Pugliese said the purchase of the fuel by Air Canada completes a value chain within the country that shows local development, production, sale and use of low-carbon jet fuel can be achieved to the benefit of everyone — but only if the support from government is there. “Airlines need very practical solutions, and today, right here in B.C., Parkland has created a made-in-Canada solution to a global challenge,” he said. The comments echoed that of WestJet CEO Alexis von Hoensbroech, who in 2023 said the global push for decarbonizing commercial aviation by 2050 will cause spikes in airfares unless governments intervene. Part of the challenge, von Hoensbroech said, is that alternative energy sources such as electric or hydrogen aircraft remains a long way from reality, making the sector difficult to decarbonize. In February, a pair of industry groups, including the National Airlines Council of Canada, said the country needed incentives matching that of the United States to spark production of sustainable aviation fuels. Commercial aviation giant Airbus has said that low-carbon jet fuel can reduce carbon-dioxide emissions by about 80 per cent, and development is ongoing for planes to be able to run completely on it instead of needing to mix it with conventional fuels. But Airbus also said the ecosystem for the fuel is still “in its infancy,” with just 600 million litres produced last year, making up 0.2 per cent of all aviation fuel for 2023. “Appropriate regulatory mechanisms and inventive structures still need to be put in place, and even then, there are challenges associated with the limited availability of land and biowaste,” Airbus said of the technology on its website. Airbus has said it is increasing its own use of low-carbon fuels with a goal of reaching 30 per cent of its total fuel mix by 2030. This report by The Canadian Press was first published Dec. 10, 2024.
TricorBraun to Acquire Veritiv's Rigid Containers Business, Further Expanding Its North American FootprintJinkoSolar Holding Co., Ltd. ( NYSE:JKS – Get Free Report ) shares dropped 3.1% during mid-day trading on Thursday . The company traded as low as $25.56 and last traded at $25.74. Approximately 133,909 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,082,477 shares. The stock had previously closed at $26.57. Analyst Upgrades and Downgrades Several brokerages recently commented on JKS. The Goldman Sachs Group reduced their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, September 3rd. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Roth Mkm lowered their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, Jefferies Financial Group boosted their price target on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, JinkoSolar has a consensus rating of “Hold” and a consensus price target of $31.33. Read Our Latest Research Report on JinkoSolar JinkoSolar Price Performance Hedge Funds Weigh In On JinkoSolar Several institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in JinkoSolar by 108.0% in the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 647 shares during the period. Barclays PLC increased its position in JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 537 shares during the last quarter. Headlands Technologies LLC raised its stake in JinkoSolar by 607.7% during the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 3,476 shares during the period. Banque Cantonale Vaudoise boosted its holdings in shares of JinkoSolar by 198.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock valued at $212,000 after purchasing an additional 5,265 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of JinkoSolar by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 1,200 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds. About JinkoSolar ( Get Free Report ) JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects. Featured Stories Receive News & Ratings for JinkoSolar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JinkoSolar and related companies with MarketBeat.com's FREE daily email newsletter .
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Sans J.T. Miller, Canucks begin 6-game road trip at SenatorsNEW YORK (AP) — U.S. stock indexes are drifting lower Tuesday in the runup to the highlight of the week for the market, the latest update on inflation that’s coming on Wednesday. The S&P 500 dipped by 0.2% in late trading, a day after pulling back from its latest all-time high . The index is on track for its first back-to-back losses in more than three weeks, as momentum slows following a big rally that has it on track for one of its best years of the millennium . The Dow Jones Industrial Average was down by 7 points, or less than 0.1%, with roughly an hour remaining in trading, and the Nasdaq composite fell 0.3%. Tech titan Oracle dragged on the market and sank 7.8% after reporting growth for the latest quarter that fell just short of analysts’ expectations. It was one of the heaviest weights on the S&P 500, even though CEO Safra Catz said the company saw record demand related to artificial-intelligence technology for its cloud infrastructure business, which trains generative AI models. AI has been a big source of growth that’s helped many companies’ stock prices skyrocket. Oracle’s stock had already leaped nearly 81% for the year coming into Tuesday, which raised the bar of expectations for its profit report. C3.ai fell 2.1% despite reporting a smaller loss for the latest quarter than analysts expected. The AI software company increased its forecast for how big a loss it expects to take this fiscal year from its operations. In the bond market, Treasury yields ticked higher ahead of Wednesday’s report on the inflation that U.S. consumers are feeling. Economists expect it to show roughly similar increases as the month before. That and a report on Thursday about inflation at the wholesale level will be the final big pieces of data the Federal Reserve will get before its meeting next week, where many investors expect the year’s third cut to interest rates . The Fed has been easing its main interest rate from a two-decade high since September to lift the slowing jobs market, after bringing inflation nearly down to its 2% target. Lower rates would help give support to the economy, but they could also provide more fuel for inflation. The yield on the 10-year Treasury rose to 4.22% from 4.20% late Monday. Even though the Fed has been cutting its main interest rate, mortgage rates have been more stubborn and have been volatile since the autumn. That has hampered the housing industry, and homebuilder Toll Brothers’ stock fell 5.2% even though it beat analysts’ expectations for profit and revenue in the latest quarter. CEO Douglas Yearley Jr. said the luxury builder has been seeing strong demand since the start of its fiscal year six weeks ago, an encouraging signal as it approaches the beginning of the spring selling season in mid-January Elsewhere on Wall Street, Alaska Air Group soared 13.6% after raising its forecast for profit in the current quarter. The airline said demand for flying around the holidays has been stronger than expected. It also approved a plan to buy back up to $1 billion of its stock, along with new service from Seattle to Tokyo and Seoul . Boeing climbed 5.2% after saying it's resuming production of its bestselling plane , the 737 Max, for the first time since 33,000 workers began a seven-week strike that ended in early November. Vail Resorts rose 2.7% after the ski resort operator reported a narrower first-quarter loss than expected in what is traditionally its worst quarter. In stock markets abroad, indexes were mixed in China after the world’s second-largest economy said its exports rose by less than expected in November. Stocks rose 0.6% in Shanghai but fell 0.5% in Hong Kong. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
A former high school classmate of Luigi Nicholas Mangione, the “strong person of interest” arrested Monday in the brazen Manhattan killing of UnitedHealthcare’s CEO, said he was surprised to learn of his arrest. Freddie Leatherbury hasn’t spoken to Mangione since they graduated in 2016 from Gilman School in Maryland. He said Mangione was a smart, friendly and athletic student who came from a wealthy family, even by the private school’s standards. “Quite honestly, he had everything going for him,” Leatherbury said. Leatherbury said he was stunned when a friend shared the news of their former classmate’s arrest. “He does not seem like the kind of guy to do this based on everything I’d known about him in high school,” Leatherbury said. Mangione, a high school valedictorian from a Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a spokesman told The Associated Press on Monday. He had learned to code in high school and helped start a club at Penn for people interested in gaming and game design, according to a 2018 story in Penn Today, a campus publication. His posts also suggest that he belonged to the fraternity Phi Kappa Psi. They also show him taking part in a 2019 program at Stanford University, and in photos with family and friends in Hawaii, San Diego, Puerto Rico, the New Jersey shore and other destinations. In an email to parents and alumni, Gilman headmaster Henry P.A. Smyth said it “recently” learned that Mangione had been arrested. “We do not have any information other than what is being reported in the news,” Smyth wrote. “This is deeply distressing news on top of an already awful situation. Our hearts go out to everyone affected.” A poster issued by the Federal Bureau of Investigation shows a wanted unknown suspect in the killing of UnitedHealthcare CEO Brian Thompson. (FBI via AP) AP Luigi Mangione is one of 37 grandchildren of Nick Mangione Sr., according to a 2008 obituary. Mangione Sr. grew up poor in Baltimore’s Little Italy and rose after his World War II naval service to become a millionaire real estate developer and philanthropist, according to a 1995 profile by the Baltimore Sun. He and his wife Mary Cuba Mangione, who died in 2023, directed their philanthropy through the Mangione Family Foundation, according to a statement from Loyola University commemorating her death. They donated to a variety of causes, ranging from Catholic organizations to higher education, to the arts. Mangione Sr. was known for Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. The father of 10 children, Nick Mangione Sr. prepared his five sons — including Luigi Mangione’s father, Louis Mangione — to help manage the family business, according to a 2003 Washington Post report. The Mangione family also purchased Hayfields Country Club north of Baltimore in 1986. On Monday afternoon, Baltimore County police officers had blocked off an entrance to the property, which public records link to Luigi Mangione’s parents. A swarm of reporters and photographers gathered outside the entrance. One of Luigi Mangione’s cousins is Republican Maryland state legislator Nino Mangione, a spokesperson for the delegate’s office confirmed Monday. Healthcare SEO shooting Reviewers slam Pa. McDonald’s after worker tip leads to arrest in CEO killing Ghost gun possibly used to kill UnitedHealthcare CEO can be made at home ‘Strong person of interest’ arrested in Pa. in health care CEO’s killing: Here’s what we know
