Latest news with #BillAdams
CNN
17-07-2025
- Business
- CNN
Latest US inflation report shows a pullback in travel spending and an increase in the cost of goods
US wholesale inflation was muted in June, presenting what would seem to be a better-than-expected outcome amid President Donald Trump's hefty tariffs on global trading partners. However, a steep drop-off in travel and other services camouflaged an increase in the cost of goods. The Producer Price Index, which measures the average change in prices paid to producers, was unchanged from May, and the annual rate of wholesale-level inflation slowed 2.3%, staying lower in part because of base effects (as the year-ago period experienced higher inflation). 'Tariffs are raising prices of manufactured goods, but wobbly demand kept broader inflation contained in June,' Bill Adams, chief economist for Comerica Bank, wrote in a note on Wednesday. Economists had expected that prices would rise 0.2% on a monthly basis and 2.5% annually, according to FactSet. Wednesday's report from the Bureau of Labor Statistics showed a tamer pricing environment for producers versus that in May, when PPI rose 0.3% and 2.7% annually, rates that were upwardly revised. Core PPI, which excludes the volatile components of food and energy, also held flat from May while the annual rate slowed to 2.6% from 3.2%. The report comes on the heels of a more concerning monthly inflation report, the Consumer Price Index, which showed that prices moved higher in June, lifted in part by more expensive goods in tariff-sensitive industries. All told, it creates a complicated picture of the US economy as Trump's trade war unfolds, forcing businesses, consumers and the central bank to scramble to manage the impact. Joe Brusuelas, chief economist at RSM US, called Wednesday's report a 'classic head fake.' The overall index was distorted by a 2.7% drop in airline passenger services, a likely consequence of international travelers pulling back on their visits to the United States, Brusuelas said. Travel accommodation services prices (hotels and motels) sank 4.1%. Although gas prices went up in June, falling services prices — particularly at hotels, airlines and car dealerships — drove the overall index lower. Travel and leisure prices have been lower than they typically are, a potential indication that consumers have reined in some discretionary spending amid a period of high economic uncertainty. 'One should not take solace from the fact that foreign customers are opting not to travel to the United States,' said Brusuelas. 'That decline in demand translates into weaker tourism, which spreads out through the retail complex, leisure and hospitality and restaurants.' The 0.1% drop in wholesale services prices masked gains on the goods side. Finished consumer goods prices, for example, were up 0.4% in June, accelerating from a 0.3% increase in May. Another area that applied downward pressure on the overall index was the trade services category, where prices were unchanged. Trade services, which can be volatile, measures profit margins for wholesalers and retailers. Those margins were squeezed in June, an indication that businesses were eating some of the higher costs. 'Rising tariffs are resulting in thinner margins that at some point will necessitate a greater pass-through downstream to customers,' Brusuelas said. 'While you're not seeing that in the airline sector, you are beginning to see it elsewhere.' But just how much businesses are able to pass along to consumers remains to be seen. Skittish consumer demand may be limiting businesses' pricing power, Comerica's Adams noted. PPI serves as a potential bellwether for price changes consumers may see in the months ahead.
Business Upturn
03-07-2025
- Business
- Business Upturn
Mercer further improves Sustainalytics ESG Risk Rating, ranking in the top 15% globally
NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) — Mercer International Inc. ('Mercer' or the 'Company') (Nasdaq: MERC), a global forest products company with operations in Germany, the U.S., and Canada, announces that it has received an updated ESG Risk Rating of 16.8 from Sustainalytics. This updated score reflects continued improvement from its 2024 rating of 17.4, underscoring Mercer's ongoing progress and commitment to ESG risk management. 'This improvement in our ESG Risk Rating reflects the tangible progress we've made in managing material sustainability risks across our operations. It underscores our strategy to create long-term value by positioning the Company to support a more sustainable, circular economy,' stated Juan Carlos Bueno, President and CEO of Mercer. The Sustainalytics ESG Risk Rating assesses a company's exposure to industry-specific ESG risks and its management of those risks. Ratings are classified across five categories: negligible (under 10), low (10–20), medium (20–30), high (30–40), and severe (40+). Mercer remains in the 'low' risk category and now ranks in the top 15th percentile in the global Paper and Forestry industry sector. In this latest assessment, Mercer achieved a 'Strong' management rating across all material ESG issues and maintained 'Low' or 'Negligible' risk ratings in key areas, including emissions, effluent, waste, land use, biodiversity, occupational health and safety, and corporate governance. These results reflect Mercer's transparent and increasingly comprehensive sustainability disclosures, as well as its ongoing improvement in environmental performance and commitment to social responsibility. 'Our improved rating reflects tangible progress in how we manage key ESG risks—especially in emissions tracking, permitting, governance, and oversight. These are measurable areas where our teams have elevated performance and consistency across operations,' highlighted Bill Adams, Mercer's Chief Sustainability Officer. To learn more about Mercer's approach to sustainability and risk management, including our latest ESG disclosures and performance data, please visit our website at . About Mercer International Inc. Mercer International Inc. is a global forest products company with operations in Germany, the USA, and Canada. Its consolidated annual production capacity is 2.1 million tonnes of pulp (air-dried tonnes, ADTMs), 960 million board feet of lumber, 210 thousand cubic meters of CLT, 45 thousand cubic meters of glulam, 17 million pallets, and 230,000 metric tonnes of biofuels. For further information on the company, please visit its website at . About Morningstar Sustainalytics Morningstar Sustainalytics is a leading ESG data, research, and ratings firm that supports investors around the world with the development and implementation of responsible investment strategies. For more than 30 years, the firm has been at the forefront of developing high-quality, innovative solutions to meet the evolving needs of global investors. Today, Morningstar Sustainalytics works with hundreds of the world's leading asset managers and pension funds who incorporate ESG information and assessments into their investment processes. The firm also works with hundreds of companies and their financial intermediaries to help them consider material sustainability factors in policies, practices, and capital projects. Morningstar Sustainalytics has analysts around the world with varied multidisciplinary expertise across more than 40 industry groups. For more information, visit About Morningstar Sustainalytics ESG Risk Ratings Morningstar Sustainalytics' ESG Risk Rating measures a company's exposure to industry-specific material ESG risks and how well a company is managing those risks. This multi-dimensional way of measuring ESG risk combines the concepts of management and exposure to arrive at an assessment of overall ESG risk, i.e., a total unmanaged ESG risk score or the ESG Risk Rating, that is comparable across all industries. Sustainalytics' ESG Risk Rating provides a quantitative measure of unmanaged ESG risk and distinguishes between five levels of risk: negligible, low, medium, high, and severe. Learn more about the ESG Risk Ratings here: . This press release contains information developed by Sustainalytics ( Such information and data are proprietary of Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project nor investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at Forward-Looking Statements The preceding includes forward-looking statements that involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from forecasted results. Words such as 'expects', 'anticipates', 'are optimistic that', 'projects', 'intends', 'designed', 'will', 'believes', 'estimates', 'may', 'could' and variations of such words and similar expressions are intended to identify such forward-looking statements. Among those factors which could cause actual results to differ materially are the following: the highly cyclical nature of our business, raw material costs, our level of indebtedness, competition, foreign exchange and interest rate fluctuations, our use of derivatives, expenditures for capital projects, environmental regulation and compliance, disruptions to our production, market conditions and other risk factors listed from time to time in our SEC reports. APPROVED BY: William D. McCartney Chairman of the Board +1 604 684-1099
Hamilton Spectator
02-07-2025
- Business
- Hamilton Spectator
Mercer further improves Sustainalytics ESG Risk Rating, ranking in the top 15% globally
NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) — Mercer International Inc. ('Mercer' or the 'Company') (Nasdaq: MERC), a global forest products company with operations in Germany, the U.S., and Canada, announces that it has received an updated ESG Risk Rating of 16.8 from Sustainalytics. This updated score reflects continued improvement from its 2024 rating of 17.4, underscoring Mercer's ongoing progress and commitment to ESG risk management. 'This improvement in our ESG Risk Rating reflects the tangible progress we've made in managing material sustainability risks across our operations. It underscores our strategy to create long-term value by positioning the Company to support a more sustainable, circular economy,' stated Juan Carlos Bueno, President and CEO of Mercer. The Sustainalytics ESG Risk Rating assesses a company's exposure to industry-specific ESG risks and its management of those risks. Ratings are classified across five categories: negligible (under 10), low (10–20), medium (20–30), high (30–40), and severe (40+). Mercer remains in the 'low' risk category and now ranks in the top 15th percentile in the global Paper and Forestry industry sector. In this latest assessment, Mercer achieved a 'Strong' management rating across all material ESG issues and maintained 'Low' or 'Negligible' risk ratings in key areas, including emissions, effluent, waste, land use, biodiversity, occupational health and safety, and corporate governance. These results reflect Mercer's transparent and increasingly comprehensive sustainability disclosures, as well as its ongoing improvement in environmental performance and commitment to social responsibility. 'Our improved rating reflects tangible progress in how we manage key ESG risks—especially in emissions tracking, permitting, governance, and oversight. These are measurable areas where our teams have elevated performance and consistency across operations,' highlighted Bill Adams, Mercer's Chief Sustainability Officer. To learn more about Mercer's approach to sustainability and risk management, including our latest ESG disclosures and performance data, please visit our website at . About Mercer International Inc. Mercer International Inc. is a global forest products company with operations in Germany, the USA, and Canada. Its consolidated annual production capacity is 2.1 million tonnes of pulp (air-dried tonnes, ADTMs), 960 million board feet of lumber, 210 thousand cubic meters of CLT, 45 thousand cubic meters of glulam, 17 million pallets, and 230,000 metric tonnes of biofuels. For further information on the company, please visit its website at . About Morningstar Sustainalytics Morningstar Sustainalytics is a leading ESG data, research, and ratings firm that supports investors around the world with the development and implementation of responsible investment strategies. For more than 30 years, the firm has been at the forefront of developing high-quality, innovative solutions to meet the evolving needs of global investors. Today, Morningstar Sustainalytics works with hundreds of the world's leading asset managers and pension funds who incorporate ESG information and assessments into their investment processes. The firm also works with hundreds of companies and their financial intermediaries to help them consider material sustainability factors in policies, practices, and capital projects. Morningstar Sustainalytics has analysts around the world with varied multidisciplinary expertise across more than 40 industry groups. For more information, visit About Morningstar Sustainalytics ESG Risk Ratings Morningstar Sustainalytics' ESG Risk Rating measures a company's exposure to industry-specific material ESG risks and how well a company is managing those risks. This multi-dimensional way of measuring ESG risk combines the concepts of management and exposure to arrive at an assessment of overall ESG risk, i.e., a total unmanaged ESG risk score or the ESG Risk Rating, that is comparable across all industries. Sustainalytics' ESG Risk Rating provides a quantitative measure of unmanaged ESG risk and distinguishes between five levels of risk: negligible, low, medium, high, and severe. Learn more about the ESG Risk Ratings here: . This press release contains information developed by Sustainalytics ( Such information and data are proprietary of Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project nor investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at . Forward-Looking Statements The preceding includes forward-looking statements that involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from forecasted results. Words such as 'expects', 'anticipates', 'are optimistic that', 'projects', 'intends', 'designed', 'will', 'believes', 'estimates', 'may', 'could' and variations of such words and similar expressions are intended to identify such forward-looking statements. Among those factors which could cause actual results to differ materially are the following: the highly cyclical nature of our business, raw material costs, our level of indebtedness, competition, foreign exchange and interest rate fluctuations, our use of derivatives, expenditures for capital projects, environmental regulation and compliance, disruptions to our production, market conditions and other risk factors listed from time to time in our SEC reports. APPROVED BY: William D. McCartney Chairman of the Board +1 604 684-1099 Juan Carlos Bueno Chief Executive Officer +1 604 684-1099
Forbes
12-06-2025
- Business
- Forbes
Forbes Daily: Tariff Unease Persists Despite Slower Inflation Report
Last month's inflation reading was a victory in the long-running battle against price increases. But the celebration may not last long. The consumer price index increased 2.4% year-over-year in May, a slower pace than economists expected. Still, experts caution that President Donald Trump's tariffs may take a few months to materialize in the data. The World Bank slashed its forecast for global growth earlier this week, citing trade tensions and uncertainty. By the end of the year, inflation is expected to settle at a full percentage point higher than the May reading, according to UBS economists, complicating investors' hopes for interest rate cuts. 'Some businesses likely discounted in May to keep customers coming in the door,' Bill Adams, Chief Economist for Comerica Bank, said in emailed comments. 'But there's a limit to how long businesses will absorb higher input prices.' Firefighters work at the site where Air India flight 171 crashed in a residential area near the airport in Ahmedabad. Photo by SAM PANTHAKY/AFP via Getty Images An Air India plane with 242 passengers and crew on board crashed near the Ahmedabad airport in the state of Gujarat in Western India on Thursday shortly after takeoff. Air India confirmed that the plane, which was scheduled to land at London Gatwick airport, was a Boeing 787-8, though details about the cause of the crash and number of fatalities were unknown. President Donald Trump announced a U.S. trade deal with China, including relief on restrictions China imposed amid the monthslong tariff dispute on crucial rare earth minerals and magnets. The details of the agreement were unclear, but some analysts predicted China would continue to have the upper-hand after its rare earth restrictions prompted Ford Motor and other U.S. companies to slow down production. Vance's criticism followed the May consumer price index release which revealed less inflation than economists expected. Photo byAfter May's cooler-than-expected inflation rate, the White House continued its criticism of the Federal Reserve, with Vice President JD Vance calling the central bank's lack of rate cuts 'monetary malpractice.' President Donald Trump has repeatedly attacked the historically independent Fed over interest rates, which have a direct impact on his real estate empire: A 1% decrease could theoretically save the president more than $6 million of interest expenses per year, Forbes reported in April. U.S. stock futures slumped early on Thursday after Trump said his administration will soon send letters to other countries unilaterally outlining the tariff rates that will be imposed on them. The president said the U.S. is currently negotiating with 15 counties, including Japan and South Korea, and noted that 'at a certain point, we're just going to send letters out ... saying this is the deal, you can take it or leave it.' Hyundai paid $1.1 billion to acquire a vast majority of robotics pioneer Boston Dynamics in 2021, and now the world's third-largest automaker intends to sell mass-produced humanoids controlled by AI as soon as 2028. It's part of a national robotics ambition for South Korea, which already leads the world in density of robot deployment. President Donald Trump falsely claimed that an appeals court upheld his 'Liberation Day' tariffs, praising the 'great and important win'—in reality, the court did not rule on the merits of the levies. A panel of judges decided to keep the tariffs in place while they consider their legality, which pauses a ruling by the Court of International Trade, but the same panel could ultimately still strike them down. Every member of the Fulbright Program's board resigned after accusing the Trump Administration of usurping its authority and canceling scholarships for nearly 200 U.S. professors and researchers. The board's dozen members, who were appointed by former President Joe Biden, led a range of programs that grant around 400,000 students, professors and researchers from more than 160 countries the opportunity to study, teach or conduct research abroad. Federal appeals court judges suggested they may be willing to move Trump's appeal of his 34-count criminal conviction from state to federal court, making it easier to throw out his only felony conviction. The three-judge panel argued that since the Supreme Court ruled that Trump can't be criminally charged based on 'official acts' in office after he had already been found guilty, there's a 'strong interest' in letting a federal court decide the 'weighty interests' at play in the case. Jason Schwartzman, Cory Michael Smith, Ramy Youssef and Steve Carell attend HBO's "Mountainhead" World Premiere at The Museum of Modern Art in New York City. Photo byMountainhead, a new HBO satirical movie from the British screenwriter behind Succession, follows a group of four tech bro billionaires, and Forbes looked at how they would stack up to the real-life fortunes on its Real-Time Billionaires list. The richest person in the world, according to the movie, is not Elon Musk, but Venis Parish (played by Cory Michael Smith), whose net worth of $220 billion would make him about as rich as Oracle's Larry Ellison, the No. 4 wealthiest in the world. In a Truth Social post Wednesday night, President Donald Trump announced the $5 million Gold Card visa program is now open for signups. The president's post includes a link to a form for what he refers to as 'The Trump Card,' which allows wealthy foreign nationals to register their interest in a program that intends to offer them a fast-track to U.S. citizenship. The website itself is thin on information, however, with no dates mentioned for when the card will actually be available. President Donald Trump has insisted the U.S. is being 'ripped off' by its longtime trading partners, but it's hard to make the case that globalization has been a zero-sum game. Twenty years ago, the members of Forbes' list of the world's 2,000 largest companies combined to record $21.9 trillion in annual sales, $1.3 trillion in profit, $80.7 trillion in assets and $26.6 trillion in market value. Every half decade since, all of those numbers have steadily climbed, and this year's totals amount to records of $52.9 trillion in revenue, $4.9 trillion in profit, $242.2 trillion in assets and $91.3 trillion in market cap. Much of that astounding growth, including more than doubling in revenues, has taken place in the U.S., where the S&P 500 index is up fivefold in the last two decades. But now, leaders of many of the most prominent companies in the U.S. and around the world are fretting that a trade war could stunt that growth. JPMorgan CEO Jamie Dimon devoted the majority of his annual letter to his macroeconomic and geopolitical concerns before even beginning to discuss his own company. The firm has been the No. 1 company on the Forbes Global 2000 list for the past three years. 'America will be first—but not if it is alone,' Dimon wrote. WHY IT MATTERS 'Even though there's a lot of talk in Washington about how trade deficits are enriching other countries at the expense of the United States, it's clear our status as the center of the global economy is only getting stronger,' says Forbes staff writer Hank Tucker. 'The number of American companies on the Global 2000 has increased in the last 15 years, and China's rise has hit a wall. In that context, tariffs appear to be trying to solve a problem that doesn't exist and dragging America down along with the rest of the world.' MORE The United States' Largest Companies 2025: JPMorgan Leads The Way As U.S. Remains World's Dominant Country Costco Wholesale and Restoration Hardware are two brands known for their membership programs, and in the face of ongoing economic uncertainty, both recently increased their membership fees, while also enhancing benefits for their most loyal customers: 5%: The increase to all Costco memberships in 2024 One hour early: Costco plans to start opening its doors to Executive members earlier, giving them a less crowded shopping experience 30%: The minimum discount RH members receive on regularly priced merchandise, up from 25%, after members pay a $200 annual fee A strong cover letter can make or break your job application, but there are some common phrases you should avoid. Address the letter to someone specific, rather than using the phrase 'to whom it may concern,' and instead of 'I'm applying for this position,' try outlining specific achievements and highlighting your knowledge of the company. Avoid clichés like calling yourself a hard worker or team player—opt for concrete examples, with metrics to back them up. The Trump Organization teased a 'major announcement' to commemorate the 10th anniversary of Donald Trump's first presidential campaign launch. What did Trump do just before declaring his candidacy? A. Walk down a red carpet B. Descend a golden escalator C. Insulted then-President Barack Obama D. Hit a triple eagle on a round of golf Check your answer. Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.
Yahoo
10-06-2025
- Business
- Yahoo
Fed is 'in a bind,' wants to avoid 2022 inflation mistakes
May's Consumer Price Index (CPI) will be an important piece of inflation data to gauge the impact of President Trump's "Liberation Day" tariffs from April. The report is due out Wednesday morning, June 11. Comerica Bank Chief Economist Bill Adams comments on current CPI forecasts and why he thinks the Federal Reserve is "in a bind right now" around the US central bank's dual mandate of balancing inflation and the labor market. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Investors, we've got a fresh read on the impact of President Trump's tariffs on inflation Wednesday morning with the release of the May CPI numbers. Economists expecting consumer prices, excluding volatile food and energy costs to rise three tenths of a percent during the month. So how big an impact will the month's numbers have on markets and the Federal Reserve? Joining us now on that, Bill Adams, Comerica Bank's chief economist. Bill, great to speak with you this morning. What are you anticipating for the CPI print this month? I think we'll probably see what's uh close to that uh consensus forecast. We're expecting a little bit cooler on the headline CPI because gas prices were down in May. That helps consumers. Uh but I think in the rear view six months from now, we'll see that the spring and early summer were probably as good as it got for inflation in 2025. Looking at other indicators like the PMI reports, business input costs are rising at the fastest pace since 2022. And so, probably by the end of this year, early next year, we will see CPI picking up uh to a three handle and um that's uh that's moving in the wrong direction. That's not moving closer to the Fed's target. And so, how far in advance of that do you expect the Fed to take what at that point, if we were to see a three handle on it, what might be looked at as preemptive or proactive type of action? I I think the Fed is in a buying right now. The Fed sees that the job market is operating at a slower pace. We're adding jobs slower in the first five months of of 2025 than we did in 2024, 2023. Uh but the Fed is, I think, more concerned about inflation, given that it looks like inflation expectations have risen. It looks like inflation is headed higher from business surveys. And the Fed uh had a big miss on inflation in 2022 and early 2023 and they don't want to repeat that mistake. So I think uh to the extent that the Fed surprises markets over the next couple of months, it's more likely by them uh saying that they're going to wait longer to cut interest rates rather than by making a preemptive cut. Let's talk a little bit about the tariff driven inflation because it was interesting in the New York Fed's data, we sort of saw a round trip in inflation expectations ticking up and then going back to prior levels over the month of April. What does that signal to you about how much we're going to see tariffs playing into the inflation data this month? Consumers in that New York Fed Fed survey, uh great point Madison to bring that one up. Uh consumers are a little bit more encouraged about the price outlook. But I think we see the pass through of the 90-day pause of higher tariffs on China showing up there. Uh as well as just the overall change in tone on the the tariff negotiation uh with all US trading partners. So, uh consumers are are feeling a little bit more upbeat, but still seeing higher inflation in um in the forward view. Uh consumers, you know, they like the rest of us, they don't have a crystal ball about what tariff policy is going to be. But uh the signal has been both from uh from uh the the government as well as from private businesses that uh we're likely to see somewhat higher prices over the next six months as a result of this. I don't think it's going to be uh a inflation emergency like we saw in 2022, but I think we will see inflation continuing to be a problem for American consumers. And so it sounds like consumers should just continue to expect businesses to kind of hot potato that cost that they're incurring. I think some businesses will be able to absorb those costs, but most will probably pass it on. I think uh consumers will probably over time see the the majority of those cost increases. Uh and that's going to translate into higher prices for durable goods, um but might not affect uh cost of food or cost of energy as much, which are more domestically produced. Final 30 seconds, Bill. Just wanted to get your take on whether or not you've seen taxes replace tariffs as the key policy uncertainty regarding any of the survey data you've seen. I think consumers and businesses are starting to pay more attention to the tax bill. And I think the idea of tax cuts over time is probably going to displace tariffs. I think we're early in that, but I think over the next month or two that will happen. And I think that will be a boost to consumer sentiment as it does. Bill, good to see you here today. Thanks so much for the time and insights. Thanks for having me. Sign in to access your portfolio
