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Thursday, April 27, 2023

Meta Q1 earnings were a 'tour de force', says Wedgewood's David Rolfe

MLIV QOD: Does the Banking Crisis End With First Republic?

Monday, April 17, 2023

BlackRock to Sell Failed Banks' Securities for FDIC

Oil demand is hitting record levels and we aren't investing enough in su...

Netflix apologizes after a delay of 'Love Is Blind' reunion livestream

Lee: Stocks are levitating because earnings season will be better than f...

SpaceX Scrubs Starship Rocket Launch

Deutsche Bank's Chadha Says S&P 500 to Rally Above 4,250

Pound Comes Roaring Back as UK Economic Gloom Wanes

Hedge Funds Go All In on US Dollar

Apple's India Sales Soar to Record High Near $6 Billion

Sunday, April 16, 2023

Merck Offers to Buy Prometheus for $10.8 Billion

China Largely Ended Currency Intervention, Central Bank Chief Says

Dutch Finance Minister on Europe's Outlook, Inflation

'Bloomberg Surveillance Simulcast' (04/14/23) 8 to 10

Summers on the Current State of the Economy

Zombie Companies

Summers: Still Looking at a 'Hard to Read Economy'

BlackRock Cuts CEO Larry Fink's 2022 Compensation

Can Central Banks Win the Inflation Battle?: IMF Panel

El-Erian 'Terrified' of Central Banks Losing Autonomy

Saturday, April 15, 2023

Recession Is on the Way, Longview's Watling Says

What the UMich Sentiment Survey Signals About US Economy

US Retail Sales Decrease More Than Expected in March

Fed's Emergency Bank Loans Fall for Fourth Straight Week

China Demand Boosts Hermes Sales

Macron's Pension Law Faces Constitutional Test

Goldman Sachs Is 'Skeptical' on US Stocks Rally Continuing

Oil Heads for Fourth Weekly Gain

China’s Megabanks Plan Funding Spree

China Left Out of Sri Lanka Debt Talks

Supply chain tainted by forced labor: Feds say nearly $1 billion in good...

The end of remote work? Firms look to punish remote workers

Rollback ahead? Walmart on tear since June lows

Elon Musk creates A.I. startup called X.AI to take on OpenAI's ChatGPT

Big beats for major banks: JPMorgan, Citi and Wells Fargo top earnings e...

Lightning Round: AMC's stock is too diluted

Where the S&P could be headed into earnings season, according to the Cha...

Clouds for California's solar demand? State slashes key subsidy

Krispy Kreme CEO on McDonald's partnership, state of the consumer and ex...

Fed will hike one more time in May and then pause, says Alejandra Grindal

Bullish narrative driving the stock market now, says Fundstrat's Tom Lee

Regional banks are the lending machine of the U.S., says Requisite's Bry...

Nasdaq stocks can gain momentum from better-than-expected earnings, says...

Markets not showing a lot of fear despite weekly move lower, says WSJ's ...

Investors have opportunities in tech to build out positions, says Capita...

JPMorgan has 25 to 30% upside after earnings, says Wells Fargo's Mike Mayo

Oil prices could rise if Fed stops hiking rates, says Bleakley's Peter B...

Mortgage rate tipping point: Most buyers say 5.5% or lower

Inflation remains sticky and Fed will keep hiking rates, says Hightower'...

Still expect economy to hit mild recession later in 2023, says JPM's Mic...

BlackRock's Larry Fink says he doesn't expect 'big recession' in the U.S.

Inflation will be 'stickier for longer' and hit floor of 4%, says BlackR...

BlackRock's Larry Fink on earnings beat, banking crisis fallout and bond...

Fed should let the economy equilibrate, says former Fed nominee Judy She...

Fed shouldn't be too aggressive amid cooling inflation, says Chicago Fed...

Friday, April 14, 2023

Apple moving production from China to India remains 'vital,' says WSJ's ...

Fed will most likely to hike rates 25 bps in May, says former Fed vice c...

Boeing pauses 737 Max delivery after supplier issues halt production

A.I. tech race still early and Amazon has time to catch up, says Jefferi...

Banks still face question over selling or holding debt, says Chris Whalen

Bank focus will be on commercial real estate and loan growth going forwa...

JPMorgan earnings beats revenue estimates; EPS comes in at $4.10

Fed may hold rates after May meeting for some time, says BMO's Schleif

Mizuho's EV warning: GM's transition to EVs will face profitability hurdle

Twitter partners with eToro to let users trade stocks and crypto

Two financial sector experts discuss the big bank earnings ahead

UBS Global Wealth Management: It doesn't seem like there's a lot of upsi...

San Francisco police connect Cash App founder to suspect arrested in fat...

Dominion vs. Fox: Jury selection underway in $1.6 billion defamation case

Cramer: I don't think that people understand the market has changed in t...

Boeing warns of reduced 737 Max production and deliveries due to parts i...

'Big short' trader Danny Moses warns biggest issue facing banks isn't de...

How Work Is Changing | CNBC Marathon

Ether jumps above $2,000 after key upgrade unlocks $31B worth of tokens

Fed balance sheet shrinks to $8.58 trillion, down $17.2 billion since la...

Citi looks like a bank stock that's too cheap to resist, says Oppenheime...

Snowflake CEO Frank Slootman on supply chain tool launch and customer sp...

Truist's Keith Lerner says he expects market sell-off amid earnings season

Morgan Stanley's Chris Toomey is bearish on stocks, expects 'dramatic' s...

JPMorgan's Jack Manley says he's negative short-term on stocks, but posi...

Recession risk not already priced into the stock market, says economist ...

Expect pullback to hit markets over next three to six months, says Wells...

Suspect arrested in Pentagon document leak, NBC News reports

Hybrid work faces new tests as pandemic wanes, says Julie Bauke

Gen Z audiences have created a surge in the luxury watch market

Bank CEOs will use earnings to dampen contagion fears, say CIC Wealth's ...

Ether crosses $2,000, and Twitter teams up with eToro for crypto trading...

Fed showing signs it won't hike rates in May, says NatWest's Michelle Gi...

Amazon Joins Generative AI Race

Blackstone's McCarthy Finds Opportunities in Real Estate

Will OPEC+ production cuts boost inflation?

National Guardsman Arrested in Intelligence Leak

Thursday, April 13, 2023

Mizuho analyst Dan Dolev makes the bearish case for Coinbase

Citi upgrades Merck to buy

Under supply of oil will lead to very high prices, says Hotchkis' Stan M...

Need To Change the Way World Bank Loans Money

Gold is an important hedge against currency weakness, says First Eagle's...

Mega cap tech will need to justify multiple expansion, says Requisite's ...

Commercial real estate crash will be as least as bad as 2008 financial c...

Credit needs expansion with new loans for current interest environment, ...

Luxury watch market demand grows among young collectors after prices fall

Fed will persist as long as core inflation is high, says IMF's Kristalin...

Amazon's fundamentals remain strong despite cloud slowdown: Truist's You...

Net interest income will be lower by the end of 2023, says KBW's Tom Mic...

Why Mike Wilson Is Sticking With Bearish S&P 500 Target

FOMO Is Back in Markets, Says iCapital's Amoroso

'The Great Inflation' Isn't Over, Vincent Reinhart Warns

IMF's Gopinath Warns of Downside Global Economy Risks

Amazon transportation VP Udit Madan on expanding same-day delivery

Amazon CEO Andy Jassy on investor letter: Consumer and enterprise both m...

Fed should pause at 5% rates until banking crisis fallout fades, says Ya...

U.S. jobless claims record highest in more than a year

Stocks remain in corrective phase within bear market, says Fairlead Stra...

Expect another 10% downside to full-year earning estimates, says BofA's ...

Delta CEO Ed Bastian on Q1 earnings: We're getting ready for a strong tr...

Recession fears in focus: Time to put money to work

Big banks face long road ahead as earnings kick off, says Piper Sandler'...

Amazon CEO Andy Jassy says in shareholder letter he's confident he can g...

Banking problems are solely the Fed's doing, says Ironsides' Knapp

Delta misses estimates on top and bottom line in Q1 earnings

U.S. Virgin Islands complaint reveals previously redacted details in J.P...

Claims Rise as PPI Falls by Most Since Start of Pandemic

Sanchez: You're starting to see some real disconnects in the market

Kilburg: Own quality and essential stocks with a dividend tilt in an equ...

Apple Triples iPhone Output in India in Shift From China

Exclusive: DHL Express Americas CEO on the global state of freight

March retail sales were likely impacted by the global banking crisis, sa...

LVMH, Europe's Most-Valuable Company, Jumps to Record High

Chinese Exports Unexpectedly Rise in March

Why Consumers Are Cancelling Subscriptions to Services Like Netflix | Yo...

What the Texas Abortion Pill Ruling Means for Abortion Access | WSJ

BlackRock’s Seth: I Like Front End of the Yield Curve

Emerging Currencies Soar on Fed Outlook

LVMH Sales Jump as Chinese Consumers Start to Splurge

Fixed Income Preferred Over Equities, JPMorgan's Hui Says

Conference Board Sees Two More Fed Rate Hikes at Most

FTX hearing fallout: Attorneys says FTX has recovered more than $7.3 bil...

Wednesday, April 12, 2023

Elon Musk takes on media: Twitter CEO doesn't hold back in BBC interview

Fox News sanctioned for withholding evidence in Dominion lawsuit

Musk tweets 'defund NPR': National Public Radio quits Twitter over label...

North Korea Fires Missile, Prompting Warning in Japan

Signs of Moderating CPI May Not Satisfy the Fed

What’s Got the Dollar in the Doldrums?

Fed Minutes Show Rate Hike Expectations Scaled Back

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Cramer: I don't see how the Fed can do much about shelter with rate hikes

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Warren Buffett: I’d give up a year of my life to eat what I like

MP Materials CEO on EPA regulation, China and rare Earth magnets

Fed still needs to slay inflation dragon, says former Dallas Fed preside...

Microsoft on offense against rivals with cloud and ChatGPT, says Wedbush...

Stock market leadership looks much more tepid now, says Strategas' Chris...

Fed's Daly Says More Rate Hikes May Not Be Needed

JPMorgan's Oksana Aronov advises investors to 'preserve optionality'

Adam Posen on Global Growth and the Roles of Fiscal and Monetary Policy

Generative A.I. can be very disruptive to the news media landscape, says...

New subscriber content will bring churn down: Warner Bros. Discovery CEO

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Tesla no longer has the best electric vehicle on the market: Cantor Fitz...

Ether dips slightly ahead of Shanghai upgrade and Montenegro taps Ripple...

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Buffett's silence on certain sectors speaks volumes, says Bill Smead

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Tuesday, April 11, 2023

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Blackstone Secures $30B for Global Real Estate Fund

IMF's Gourinchas on Global Outlook, Banks and Inflation

US GDP to 'Tumble Pretty Hard,' Economist Darda Warns

John Bolton on Pentagon Leak, Bipartisan China Concerns

EPA Proposes New Standards to Protect Public Health, Reduce Exposure to Ethylene Oxide Pollution

 EPA Press Office:


EPA Proposes New Standards to Protect Public Health, Reduce Exposure to Ethylene Oxide Pollution

Proposals would slash Ethylene Oxide emissions by 80% per year, require stronger worker protections

Contact: EPA Press Office (press@epa.gov)

WASHINGTON (April 11, 2023) – Today, the U.S. Environmental Protection Agency (EPA) is proposing new health protections to reduce exposure to Ethylene Oxide (EtO), including more stringent air emissions standards and additional protections for workers who are exposed to the gas used to sterilize medical devices and certain spices. If finalized, EPA’s proposals are estimated to cut EtO emissions to the air from commercial sterilization facilities by 80% per year and apply more protective standards to control those emissions under the law. Together, these proposals will provide a comprehensive approach to addressing EtO pollution concerns, including cancer risk, that will increase safety in communities and for workers while providing a path to maintain a robust supply chain for sterilized medical equipment. 

The proposal advances President Biden’s commitment to ending cancer as we know it as part of the Cancer Moonshot and the Administration’s commitment to securing environmental justice and protecting public health, including for communities that are most exposed to toxic chemicals.

“EPA’s number one priority is protecting people’s health and safety, and we are committed to taking decisive action that’s informed by the best available science,” said EPA Administrator Michael S. Regan. “These proposals build on EPA’s extensive outreach to communities across the nation and reflects close coordination among key federal partners. Together they would significantly reduce worker and community exposure to harmful levels of ethylene oxide. EPA will continue to use every available tool to safeguard our nation’s communities, including workers, from exposure to toxic chemicals and to deliver important public health protections.”

The two new proposals announced today mark significant progress as EPA continues to leverage the full range of its regulatory authority under the law to protect public health by reducing the risk posed by EtO. Long-term exposure to EtO over the course of a 35-year career or 70-year lifetime in or near a commercial sterilizer can increase the risk of certain types of cancer. People who go to school near places where EtO is used are also potentially at an elevated risk of cancer due to EtO levels in the air. Actual risks will vary based upon a facility’s control measures for workers and community members and the distance and amount of time people live, work, or go to school near a facility. 

These proposals were informed by collaboration across the federal government to deliver risk reductions while maintaining critical sterilization capabilities, including consultation between EPA, the U.S. Food and Drug Administration, the U.S. Centers for Disease Control and Prevention and Agency for Toxic Substances and Disease Registry, and the Occupational Safety and Health Administration. The proposals include controls that many facilities are already using, and that EPA would apply nationwide. The Agency has also undertaken robust public engagement on this topic and will continue to provide the public, especially in impacted communities and workplaces, with access to the information they need to make informed, independent judgements about risk and to encourage public involvement in the regulatory process.

“OSHA’s mission is to ensure safe and healthful working conditions for workers,” said Doug Parker, Assistant Secretary of Labor for Occupational Safety and Health, “We will continue our partnership with EPA and other federal agencies to reduce risks for people who work every day to maintain our nation’s vital medical device supply chain.”

Reducing Air Emissions to Protect Communities
Under EPA’s Clean Air Act authority, the Agency is issuing a proposed rule outlining new requirements for 86 commercial sterilizers across the country.  If finalized, the proposal would reduce EtO emissions from these facilities by 80%, bringing emission levels down so that risk falls below the EPA’s Clean Air Act benchmark for elevated cancer risk.

While many of these facilities have already taken steps to reduce emissions, the proposal will require all 86 facilities and any new facilities to comply with these stricter pollution controls, which have already proven to be effective and achievable. All commercial sterilizers will also be required to use advanced source monitoring methods to confirm that these pollution controls are operating effectively. Facilities would be required to report results to EPA twice per year. Under the proposal, facilities would be required to comply with these new requirements within 18 months. This represents an expedited timeline under EPA authority.

EPA’s proposal is informed by the latest data, science, and extensive outreach and takes full account of the important function of medical sterilization to provide a safe supply of medical devices for patients and hospitals. EPA required all commercial sterilizers to submit detailed information about EtO emissions and control technologies as part of a 2021 Information Collection Request. EPA used this data to estimate risk to people who live near these facilities.  EPA also conducted extensive pre-proposal outreach in 2022, including community meetings and webinars, which supported state and local efforts to protect communities and generated information that informed and strengthened this proposal. 

New Safeguards to Protect Workers, Communities, and Reduce Exposure
In addition to new emissions standards, EPA is proposing a comprehensive set of new mitigation measures that will decrease risk for workers who use EtO to sterilize products and for other people in communities near sterilization facilities.

Under the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), EPA approves the use of pesticides subject to certain controls through a registration decision, including antimicrobial pesticides like EtO. EPA is now proposing to increase control measures on the use of EtO in the Proposed Interim Decision, such as:

  • Prohibiting certain uses of EtO where alternatives exist including use in museums, archival settings, beekeeping, some cosmetics, and musical instruments;
  • Reducing the amount of EtO that may be applied for medical device sterilization while meeting applicable standards for sterility assurance;
  • Requiring engineering controls that reduce worker exposures to EtO, such as automation or emissions capture technology; and
  • Mandating Personal Protective Equipment (PPE) in sterilization facilities when EtO is detected using state-of-the-art monitoring technology.

Some commercial sterilization facilities have already successfully implemented some of these measures, including reducing the amount of EtO used for sterilization and installing engineering controls that reduce worker and community exposures. EPA’s proposal would now require these measures nationwide to further protect workers at EtO commercial sterilization facilities and healthcare facilities and people in communities near these facilities. The proposal includes different timelines for controls depending on their complexity and feasibility. For example, workers can use respirators far more quickly than it takes to reengineer control systems.

EPA is proposing unprecedented real-time monitoring of EtO using technology that can accurately measure EtO within sterilization facilities down to 10 parts per billion (ppb). If levels surpass 10 ppb, workers would be required to wear PPE.  EPA is also instructing industry to develop technologies and methods to identify lower concentrations of EtO, below 10 parts per billion (ppb), inside contract sterilization facilities.

EPA’s proposal also includes new data collection and reporting requirements that would help identify and improve protective monitoring technologies and assess the effectiveness of the proposed mitigation measures. Based on this data, EPA intends to initiate the next round of registration review for EtO earlier than the mandated timeframe, including assessing these measures and incorporating additional protections based on advances in technology that occur.

EPA Proposal Driven by Latest Science
EPA is moving urgently to advance these new protections based on the Agency’s latest assessment of cancer risks from EtO exposure in occupational settings, which are more significant than previously understood. Of note, EPA has not found that routine exposure to EtO from these facilities causes short-term or acute health risks. EPA’s new analysis estimates the additional lifetime cancer risk associated with continuous workplace exposure to EtO for 8 hours a day, for 240 days per year, over a period of 35 years in an occupational setting is between 1 in 36 and 1 in 10 for workers who apply EtO in sterilization facilities, and between 1 in 25 and 1 in 12 for workers who apply EtO in healthcare facilities. These risks can be reduced through measures that have already been taken or can be taken immediately by increasing access to personal protective equipment, adequate ventilation, and safety protocols to avoid direct contact with EtO.  As stated above, many facilities have already successfully implemented these measures, reducing risks.

In commercial sterilization facilities, EPA also found that continuous, long-term exposure to EtO could lead to elevated cancer risk for workers who do not directly handle EtO but work in other areas of these facilities. EPA’s proposed mitigations will reduce risk for people who may be exposed to EtO in or near these settings and many facilities are already taking these measures or can take additional measures immediately.

Last year, EPA released the latest available information on air emissions of EtO from these facilities and undertook extensive engagement with communities where EPA identified the potential for elevated lifetime cancer risks due to long-term exposure to EtO. The Clean Air Act standards EPA is proposing today would, if finalized, reduce lifetime cancer risks for people who live near all commercial sterilizers.

For more information about EPA’s risk findings, visit EPA’s webpage and/or read EPA’s Draft Risk Assessment Addendum.

Next Steps
EPA is encouraging stakeholders, including community, industry and public health leaders to participate in the public comment process for each action released today as the Agency strives to reduce risk from EtO while also ensuring continued availability of sterile medical devices that the American public relies upon. EPA’s Proposed Interim Decision and EPA’s Draft Risk Assessment Addendum, can be found on EPA’s website and will soon be in docket EPA-HQ-OPP-2013-0244 at www.regulations.gov. EPA’s proposed revisions to the air emission standards for commercial sterilization facilities, can be found by visiting docket EPA-HQ-OAR-2019-0178 at www.regulations.gov. Both dockets will be open for public comment for 60 days after publication in the Federal Register.

EPA will also host a public webinar on May 1, 2023, at 8:00 pm ET to discuss proposals and risk assessment. Information for the public to register for the webinar will be available on EPA’s Hazardous Air Pollutants: Ethylene Oxide (EtO) webpage. For those who are unable to attend, EPA will post a recording of the webinar on the Agency’s website.

In addition to the proposed measures announced today, EPA continues to take significant action to address EtO and advance critical EtO research. These actions include:

Additionally, EPA announced a separate action last week to reduce risk from EtO to people who live near facilities that make and use EtO in manufacturing.

For more information on EtO, please visit EPA’s website.

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