Rivian, FedEx, Cerner, Oracle: What to | Stock Market News Today


Stock futures are down at the end of a week that saw major central banks chart divergent courses as they confront inflation. Here’s what we’re watching in Friday’s action:

Cerner’s stock got a premarket boost after it was reported that Oracle was in talks to acquire the company.



Photo:

Kris Tripplaar/Sipa USA/Associated Press

Chart of the Day
  • Investors say Chinese authorities are likely to ease up somewhat on the embattled real-estate sector and to loosen monetary policy, helping support Chinese corporate borrowers more broadly.

Write to James Willhite at [email protected]

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Latest News Today – MagSafe Battery Pack Teardown Reveals Power Capacity,


MagSafe Battery Pack was launched earlier this month by Apple for its iPhone 12 series. A teardown of this wireless on-the-go battery charger reveals the battery capacity and other details. The MagSafe Battery Pack has two identical batteries integrated inside and each are labelled as 5.733Wh. In total, the MagSage Battery Pack has a capacity of 1,460mAh and the voltage is at 7.62V. The teardown also offers extensive details about the circuits inside the battery pack, along with heat dissipation and other details.

The latest teardown has been published by ChargerLAB on YouTube. In the video, the MagSafe Battery Pack from Apple is completely dismantled to show its viewers the internals and the battery capacity. The cover itself has two copper coils, with one that is connected to an NFC chip. Once the PCB module is removed, two batteries of identical sizes are revealed. The total capacity of 1,460mAh is quite less for a battery pack, especially when compared to other third-party battery packs out there.

A metal heat sink and a copper foil are attached to the shell for better heat dissipation. ChargerLAB goes on to detail all the circuits and silicon on the PCB module. You can watch the full video below:

Apple’s MagSafe Battery Pack carries a price tag of Rs. 10,900 in India ($99 in the US). It is currently available for orders in the US. The Apple India online store has also listed the battery pack, but delivery is listed to be ‘currently unavailable.’

The MagSafe Battery Pack is compatible with iPhone 12 mini, iPhone 12, iPhone 12 Pro, and iPhone 12 Pro Max. Once the battery pack is attached on the back, it starts charging the iPhone automatically, without any need for pressing a button. The MagSafe Battery Pack can be charged while attached to the iPhone with a Lightning cable.


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.


Tasneem Akolawala is a Senior Reporter for Gadgets 360. Her reporting expertise encompasses smartphones, wearables, apps, social media, and the overall tech industry. She reports out of Mumbai, and also writes about the ups and downs in the Indian telecom sector. Tasneem can be reached on Twitter at @MuteRiot, and leads, tips, and releases can be sent to [email protected]
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Latest News Today – OnePlus Nord 2 Battery Capacity, Fast Charging


OnePlus Nord 2 5G is set to be launched in India tomorrow, July 22. The Chinese tech giant has revealed the specifications for the battery and its fast-charging support ahead of its debut. OnePlus has already confirmed some key specifications of its upcoming mid-range smartphone. Some leaks have also surfaced that tip the prices for the upcoming phone. OnePlus Nord 2 is expected to be offered in four colourways — Blue Haze, Gray Sierra, Green Woods, and an unnamed Red colour option.

Through a tweet on its official Twitter handle, OnePlus has confirmed that OnePlus Nord 2 will pack a 4,500mAh battery that supports Warp Charge 65 fast charging. The tweet also mentions that Warp Charge 65 is capable of giving the smartphone a full day’s worth of battery life in just 15 minutes. However, it doesn’t mention the exact battery percentage that will make OnePlus Nord 2 last a whole day.

The different colour options OnePlus Nord 2 may be available in have surfaced through recent reports. It is likely that the Green Woods colour option may only be available on the 12GB + 256GB storage variant. The last smartphone by OnePlus to receive the Red colour treatment was OnePlus 7, that appears to be glossier than the Red colourway of OnePlus Nord 2.

The design of the OnePlus Nord 2 was also confirmed through a tweet by the company. The smartphone is shown to have a similar design to the OnePlus 9 series. Up front, the mid-range smartphone is shown to have a hole-punch cutout for the selfie camera and it will have a triple rear camera setup similar to the OnePlus 9 series.

The smartphone is also confirmed to come with a MediaTek Dimensity 1200-AI chipset, making it the first OnePlus smartphone to be powered by a MediaTek processor. It will come with many AI-based features with the AI-Photo Enhancement feature capable of recognising up to 22 different scenarios. OnePlus also confirmed that the smartphone will come with OxygenOS 11 out-of-the-box and will get two major OS updates along with three years of security updates.

OnePlus Nord 2 is also expected to come with a 6.43-inch AMOLED display with a 90Hz refresh rate and HDR10+ certification. The prices for the upcoming smartphone have also leaked and its base 8GB + 128GB storage variant is expected to be priced at Rs. 31,999. The 12GB + 256GB storage variant is expected to be priced at Rs. 34,999.


Can Realme X7 Pro take on OnePlus Nord? We discussed this on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, and wherever you get your podcasts.





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End of Keystone XL Shows Hard Road for New Pipelines | Sidnaz Blog


The failure of the Keystone XL project demonstrated the challenges of building new pipelines in the U.S. and Canada amid galvanized environmental groups and delivered a blow to oil-and-gas companies that now must rely on aging infrastructure.

Protesters targeted Keystone XL, which Canada’s

TC Energy Corp.


TRP -0.26%

abandoned Wednesday, and other pipelines for more than a decade, hoping to choke off fossil-fuel usage by making it harder to transport. The success with Keystone XL already has emboldened environmentalists, who in recent weeks have turned their attention to other pipelines in the U.S. and Canada.

But the U.S. and Canada still rely on pipelines to transport fossil fuels that underpin commerce, transportation and heating and cooling. As pipelines become increasingly difficult to build, the countries will become more dependent on older infrastructure that is vulnerable to disruptions. The shutdown of the Colonial Pipeline last month after it was attacked by hackers highlights the potential impact caused by unexpected disruptions to the current network.

“Clearly, we’re relying on the infrastructure we currently have. The question becomes, as we think about filling future demand, and we need to repair or replace old infrastructure, how are we going to handle it?” said

Amy Myers Jaffe,

a research professor at Tufts University’s Fletcher School.

Global oil demand is projected to peak in coming years, which could mean projects like Keystone could eventually outlive their utility, Ms. Jaffe said. “We’re not building for the 1950s, we’re building for the 2030s.”

In the past two years, at least four multibillion-dollar pipeline projects that drew protests have been canceled or delayed after encountering regulatory and political roadblocks, and environmental groups are looking to capitalize on the momentum. Some producers also have resorted to transporting oil by rail, a more expensive and potentially more dangerous alternative.

On Monday, Calgary-based

Enbridge Inc.

evacuated 44 workers in Minnesota, working on replacing a crude-oil pipeline there, after a group of protesters descended on a pump station in the middle of the state. Native American tribes and environmental groups continue to challenge the Dakota Access Pipeline in a long-running effort that has entangled the company in court for years.

The death of Keystone XL is the latest setback for the oil-and-gas industry. In May, a Dutch court found that

Royal Shell

PLC is partially responsible for climate change and ordered the company to sharply reduce its carbon emissions in an unprecedented ruling. Meanwhile, an activist investor won three seats on

Exxon Mobil Corp.’s

board, a historic defeat for the oil giant that may force it to alter its fossil-fuel-focused strategy.

Activists in Washington, D.C., in April called for the shutdown of pipelines in the northern U.S.



Photo:

daniel slim/Agence France-Presse/Getty Images

The trio of defeats demonstrates how dramatically the landscape is shifting for oil-and-gas companies as campaigns directed by environmentalists have spread to investors, lenders, politicians and regulators who are increasingly calling for a transition to cleaner forms of energy.

Last year,

Dominion Energy Inc.

and

Duke Energy Corp.

abandoned the $8 billion Atlantic Coast Pipeline, meant to move West Virginia natural gas to East Coast markets, and

Williams

Cos. dropped its Constitution natural gas pipeline after failing to gain a water permit from New York state.

President

Biden,

who made canceling Keystone XL a central plank of his election campaign, has remained mostly mum about other pipeline projects under construction.

Environmental and indigenous groups have sued to stop construction on Enbridge’s project to replace its Line 3 crude-oil pipeline with a larger conduit that will carry oil from Alberta’s oil sands to Superior, Wis., arguing that the U.S. Army Corps of Engineers failed to consider the environmental impacts of the pipeline when it granted a water-quality permit.

The company already has replaced sections in other states but has encountered obstacles in Minnesota, where it hopes to complete construction by the end of the year. After Enbridge evacuated workers Monday, the Hubbard County Sheriff’s department arrested 179 people for damaging equipment and dumping garbage on the site.

“The project is already providing significant economic benefits for counties, small businesses, Native American communities, and union members—including creating 5,200 family-sustaining construction jobs, and millions of dollars in local spending and tax revenues,” said the company in a statement on Thursday.

The Minnesota Court of Appeals is expected to make a ruling on a case that challenged the state’s Public Utilities Commission’s approval of the project.

Michigan state officials in November revoked a permit that allowed another Enbridge pipeline to run along the bottom of the Straits of Mackinac, citing the risk of damage to the region’s ecosystem. Gov.

Gretchen Whitmer

gave Enbridge a May 12 deadline to shut down the pipeline, but the company hasn’t complied, claiming the governor lacks the authority to do so.

The 645-mile conduit carries more than half a million barrels of oil and natural-gas liquids each day from Superior to refineries in Michigan, Ohio, Pennsylvania, Ontario and Quebec.

“Does the Keystone XL cancellation embolden fights against other pipelines? That’s a resounding yes,” said

Mike Shriberg,

Great Lakes region executive director for the National Wildlife Federation, which opposes the operation of Enbridge’s pipeline through Michigan.

“We’re very pleased,” said

Michael Brune,

executive director of the Sierra Club, which opposes both Enbridge pipelines in Minnesota and Michigan. He said the successful Keystone XL effort has taught them important lessons on how to oppose other projects. “It has taught us to never give up,” he said.

Enbridge pointed to the dramatic impact of the Colonial Pipeline’s six-day closure last month as an example of the consequences of scuttling energy infrastructure. The shutdown of the nation’s largest fuel pipeline, caused by a May 7 ransomware attack, spurred a run on gasoline across the Southeast, leaving thousands of gas stations without fuel for days.

During a Senate committee testimony Tuesday, Colonial Chief Executive

Joseph Blount

emphasized the scale of the pipeline, noting 50 million Americans rely on it to carry fuel to gas stations, as it provides almost half of the fuel consumed on the East Coast.

“Not only do everyday Americans rely on our pipeline operations to get fuel at the pump, but so do cities and local governments, to whom we supply fuel for critical operations, such as airports, ambulances and first responders,” Mr. Blount said in written testimony.

Write to Vipal Monga at [email protected] and Collin Eaton at [email protected]

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Renewable-Fuel Push Drives Soyoil Prices to Record High | Sidnaz Blog


Prices for soybean oil shot to an all-time high last week, powered by growing demand from the biofuels sector.

Soybean-oil futures on the Chicago Board of Trade have soared almost 70% this year, closing at nearly 72 cents per pound on Friday. That topped the previous high hit in 2008. The climb makes soybean oil one of the year’s best-performing assets among a basket tracked by The Wall Street Journal, along with other commodities like lumber, corn and hogs.

Soybean oil is commonly used as an ingredient in foods like cereals, bread, and other snack foods. Demand for the vegetable oil is growing, however, from the biofuels industry, a chief part of the push toward renewable energy highlighted by President Biden’s call for the U.S. to cut carbon-emissions levels in half by 2030.

“Biofuel, particularly renewable diesel, is a key driver of the demand picture on the vegetable-oil side as we look forward,” said

Greg Morris,

president of Archer Daniels Midland Co.’s agricultural services and oilseeds business unit.

The U.S. Agriculture Department expects the biofuels sector to consume 12 billion pounds of soybean oil in the 2021-22 marketing year—up from an estimated 9.5 billion pounds in 2020-21, according to its monthly supply-and-demand report published in May.

Producers are racing to keep up. Production capacity for soyoil in the U.S. is expected to grow to 935 million gallons in 2021, nearly double from where it was last year, according to data from

StoneX Group.

By 2023, that capacity is expected to swell to over two billion gallons annually.

“The enthusiasm for this new generation of renewable fuels mimics what we saw in the early days of the ethanol boom,” said

Arlan Suderman,

chief commodities economist with StoneX.

ADM said last month that it would invest $350 million into building a new soybean-crushing plant—where raw soybeans are made into products like oil and meal—in Spiritwood, N.D. ADM said the facility will open before the 2023 harvest, processing as much as 150,000 bushels of soybeans a day.

The Agriculture Department expects the biofuels sector to consume more soybean oil in the 2021-22 marketing year than the one just before.



Photo:

Rory Doyle/Bloomberg News

ADM isn’t the only major agricultural company investing. Cargill said in March it would spend $475 million improving its soy-crush facilities across seven states, bettering their efficiency and boosting production.

Cargill in April announced a joint venture with the Love’s Family of Companies to construct a new renewable diesel plant in Hastings, Neb. Once opened, the plant will supply the market with 80 million gallons of renewable diesel a year, Cargill said.

“Our view is that we need to have some kind of presence in the renewable-fuel market, to know about it,” said Roger Watchorn, head of Cargill’s agricultural supply-chain operations.

Major energy players outside of agriculture are also piling in.

Phillips 66 Co.

in April confirmed it had bought a stake in an Iowa-based soybean-processing plant and would buy 100% of the soybean oil produced there—expected to total roughly 4,000 barrels a day.

“With some of the new entrants into the market, they’re looking to secure their supply chain,” said Alan Weber, a founding partner of Kearney, Mo.-based biofuel consulting firm MARC-IV.

While other feedstocks, such as used animal fats, make better renewable fuel, there simply isn’t enough of those waste products available, said Juan Sacoto, director of North American agribusiness consulting with IHS Markit Inc. About 40% of all beef tallow and 80% of all reclaimed yellow cooking grease are already being sold for biofuels, constituting roughly two billion pounds of each.

“There’s not enough of these fats and greases, so they turn to vegetable oil,” said Mr. Sacoto, adding that IHS projects that the biofuels industry will need 20 billion pounds of feedstock this year—a figure expected to double in the next five years.

Global supply issues are also a factor pushing vegetable-oil prices higher. In Southeast Asia, coronavirus-related labor shortages have reduced production of palm oil, an oil used for similar purposes. Palm-oil stocks world-wide are at their lowest level in four years. Few expect a quick turnaround, said Kyle Holland, a pricing analyst with research firm Mintec Ltd.

“The sentiment now from the market is that it’ll be a very long time, even into 2022, until the market gets back to normal,” said Mr. Holland in a virtual conference in May.

Rising soybean prices in the U.S. are also pushing gains in soyoil, with the most-active futures contract on the Chicago Board of Trade jumping as high as $16.43 per bushel in May, their highest level since September 2012. A major source of demand comes from China, which is rebuilding hog populations after African swine fever caused the nation to cull roughly a third of its herd.

Some question how much longer soyoil prices can climb, with consumers noticing prices at grocery stores are on the rise.

“The price response for soyoil in the U.S. has people questioning how big can it get before hitting a tipping point,” said Mr. Watchorn.

Soybean oil is one of the year’s best-performing assets.



Photo:

Rory Doyle/Bloomberg News

Write to Kirk Maltais at [email protected]

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Ant Wins China’s Approval to Set Up Consumer-Finance Company | Sidnaz Blog


Ant Group’s headquarters in Hangzhou, China.



Photo:

Qilai Shen/Bloomberg News

China’s banking and insurance regulator said Thursday that it had approved Ant Group’s application to set up a consumer-finance company, the first regulatory milestone in the fintech giant’s restructuring of its business.

Ant will hold a 50% stake in the new entity, registered in the southwestern municipality of Chongqing, with the rest held by six other shareholders. The company, Chongqing Ant Consumer Finance Co., is licensed to conduct consumer lending and other operations.

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AT&T Needed to Dial Back Media Dreams | Sidnaz Blog


A scene from the Warner Bros. Pictures movie ‘Wonder Woman 1984’.



Photo:

Clay Enos/Warner Bros/Everett Collection

AT&T’s


T 1.07%

time as a media giant was fun while it lasted. Well, not for its investors.

The deal the telecommunications giant announced with

Discovery Inc.


DISCB 9.67%

Monday morning begins the process of unwinding Ma Bell’s expensive foray into the world of big media. Under the terms announced, AT&T’s WarnerMedia unit will combine with Discovery to create a new stand-alone media titan expected to generate annual revenue of about $52 billion by 2023. It also will create a more focused—and less indebted—AT&T. Net debt is expected to fall by $43 billion once the deal closes sometime in mid-2022.

Much of those borrowings came from the company’s $81 billion acquisition of Time Warner, which closed barely three years ago. The relatively abrupt about-face can be chalked up to a rapidly changing media landscape in which investors have heavily incentivized Hollywood’s content giants to pour capital into streaming. That created some unique pressures for AT&T, which also has a capital intensive wireless and fiber optic business to run along with a generous dividend to maintain. Investors never warmed to the company’s big media aspirations; AT&T’s stock has badly trailed the broader market since the company announced the Time Warner deal in late 2016. The shares rose 2% Monday morning.

Discovery, meanwhile, has earned some kudos on Wall Street for its efforts to build a more focused streaming offering. Discovery+ launched in the U.S. in January, and

Robert Fishman

of MoffettNathanson estimates the service is already on pace to reach 11 million domestic subscribers by the end of the year. Still—at just under $11 billion in trailing 12-month revenue—Discovery ranks below many other media outlets in scale, including

Fox Corp.

,

ViacomCBS

and

Walt Disney

in terms of scale.

The move isn’t quite a cash out for AT&T. Citigroup analysts noted Monday that the structure of the deal as a tax-free spin limits the amount of cash and deleveraging for AT&T, which said Monday it has “resized” its annual dividend payout ratio to about 40% to 43% of anticipated free cash flow, down from its last-stated goal of a little over 50% of free cash flow. AT&T adds that it will reach its target ratio of 2.5 times net debt to adjusted earnings before interest, taxes, depreciation and amortization by the end of 2023—a year earlier than planned.

The move should still create a cleaner story for AT&T going forward. The company was never going to land the sort of multiples investors have lavished on other media giants diving head first into streaming. And its pressing need to invest in expensive technology like 5G to keep its network business competitive made this a bad time to also keep up with the billions being poured into new streaming content by everyone from Disney to

Netflix

to

Apple Inc.

to

Amazon.com.

For a company that seemingly has been in permanent deal mode since the late ‘90s, unwinding its largest acquisition to date may finally convince Ma Bell to stick to her knitting.

Write to Dan Gallagher at [email protected]

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Despite Lumber Boom, Few New Sawmills Coming | Sidnaz Blog


North America’s sawmills can’t keep up with demand, which has sent wood prices on a meteoric rise. Don’t expect new mills to start popping up though.

Executives in the cyclical business of sawing logs into lumber said they are content to rake in cash while lumber prices are sky-high and aren’t racing out to build new mills, which can cost hundreds of millions dollars and take two years to build from the ground up.

In doing so they are breaking with conventional wisdom in the commodities business, which states that the cure for high prices is high prices. Usually when prices for raw materials rise, refineries and smelters ramp up, farmers plant larger crops, wells are drilled, mines dug. New supplies flood into the market and prices retreat.

Home buyers and do-it-yourself-ers, who are paying more than four times the normal price for lumber, would like for that to happen. But they are flush thanks to historically low borrowing costs, rising home values and government stimulus. Demand has been unbowed by escalating prices.

Though lumber futures eased off last week’s all-time highs, they remain more than twice the pre-pandemic record. Meanwhile, cash prices for framing lumber and structural panels reached new highs, according to pricing service Random Lengths.

Mill companies including

Weyerhaeuser Co.

and

West Fraser Timber Co.

have set nine-figure budgets to boost efficiency and output at their existing mills, particularly in the South where there is a glut of cheap pine timber. Some forest-products executives said they are considering acquisitions with their fast-accumulating cash. But there aren’t many new mills on the drawing board for North America.

“We are going to be ultra cautious on what we do in those regards,”

Canfor Corp.

Chief Executive

Don Kayne

told investors last month when the company reported record quarterly profits. “We don’t mind at all having a little extra cash around for sure, considering what this industry goes through.”

U.S. lumber-making capacity has risen about 11% over the past five years, according to Forest Economic Advisors LLC. New mills in the pine belt between Georgia and east Texas have helped offset closures that have shrunk Canada’s capacity, but there isn’t much coming behind them. Idled facilities are restarting in Florida and Mississippi. A couple small mills are under construction out West. Four bigger mills have been announced but not begun in the South, the firm said.

Chad Hesters,

who advises forest-product executives and investors as managing partner in the Houston office of consulting firm

Korn Ferry,

said the lumber boom has prompted clients to ask about building mills. He said he tells them they are too late.

Besides the time and money it takes to build a modern mill, equipment, from microprocessors to heavy machinery, is in short supply. So are the sort of workers needed to operate a computerized mill, especially in the rural places where timber is abundant, Mr. Hesters said.

“Trying to build capacity and make investments that have a lot of lead time at the top of a cycle is historically a good way to lose money,” Mr. Hesters said.

U.S. wood-product manufacturing peaked in January 2006, according to the Federal Reserve. A sharp decline that year foreshadowed the housing market’s collapse. The least efficient mills shut down while others were consolidated. Big Canadian sawyers West Fraser, Canfor and

Interfor Corp.

have spent billions of dollars modernizing mills in the Southern pinelands ever since.

Companies that buy wood from mills have been limiting orders for fear of getting stuck with inventory. A truss manufacturer in Spanish Fork, Utah, last week.



Photo:

George Frey/Getty Images

An example is in Summerville, S.C., where Interfor is boosting output at a lumber mill that it bought in March from a cardboard maker. The lumber boom has pushed up asking prices for mills, though, which may impede deals like that, forest-product executives said.

Meanwhile, stock analysts are advocating for mill companies to return cash to shareholders. BMO Capital Markets analyst

Mark Wilde

said it is hard to see how mill companies can spend their windfalls without destroying value, given the frothy market.

“It’s a lot of sailors hitting the town with a lot of money in their pocket, so silly things can happen,” he said on Canfor’s earnings call. He applauded Interfor’s move Wednesday to pay a special dividend of $1.65 a share.

Added shifts and new equipment should increase output on the margins, but mill executives expect supplies to remain tight and for prices to remain high into next year.

“Even if there was an opportunity to build inventories, distribution channels would be reluctant at current market prices,” said

Bart Bender,

Interfor’s head of sales and marketing.

Demand for lumber has skyrocketed during the pandemic, sending prices to all-time highs. This video explains what’s driving the lumber boom, who’s profiting, and why those growing the trees aren’t reaping the benefits. Illustration: Liz Ornitz/WSJ

Companies that buy wood from mills to distribute to builders, manufacturers and retailers have been limiting orders to exactly what customers need for fear of getting stuck with high-price inventory and falling prices, said

Michael Goodman,

whose family owns and operates Sherwood Lumber Corp.

The Melville, N.Y., company annually sells about a billion board feet of framing lumber to truss manufacturers, building-supply companies and shipping-crate makers. The firm doesn’t expect additional supplies before late next year or even 2023 and has been trying to manage its risk in the white-knuckle market by taking positions in the futures market.

“This is our job,” Mr. Goodman said. “We’re a middleman. We can’t not have stuff on the shelf.”

SHARE YOUR THOUGHTS

What impact has the availability and price of lumber had on your home construction or renovation project? Join the conversation below.

Write to Ryan Dezember at [email protected]

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Latest News Today – Steel Plants In India Hike Oxygen Production Capacity


Steel plants in India enhance oxygen production

As the Government has allowed setting up of 551 plants for producing liquid medical oxygen (LMO) across the country, the Ministry of Steel has informed that there are 33 oxygen plants in India including those in the private sector and against the 2,834 metric tonnes of daily LMO production capacity in the steel sector, the production as on April 24 was 3,474 metric tonnes.

Official sources said that the average delivery of LMO by Steel Authority of India Limited (SAIL) has been raised to more than 800 tonnes per day. Around 1,150 tonnes of LMO was delivered on April 23, and the quantity delivered on Saturday (April 24) was 960 tonnes. 

Total LMO supplied from SAIL integrated steel plants at Bhilai, Bokaro, Rourkela, Durgapur and Burnpur from August, 2020 till April 24 has been 39,647 tonnes. 

State-owned Rashtriya Ispat Nigam Limited (RINL) supplied 8,842 tonnes of LMO in 2020-21. During the current fiscal, from April 13 till the morning of April 25, more than 1,300 tonnes of medical oxygen has been dispatched, official sources informed. Also there is an increase from 100 tonnes to 140 tonnes during the last three days.

The first Oxygen Express had chugged off RINL Vizag Steel Plant site on April 22, carrying 100 tonnes of LMO to Maharashtra to meet medical exigencies of Covid patients.

Steel plants need gaseous oxygen primarily for steel making and for oxygen enrichment in blast furnaces, apart from some general purposes like lancing and gas cutting. Hence captive oxygen plants in integrated steel plants are designed to produce mainly gaseous products of Oxygen, Nitrogen and Argon, which are and then routed through Pressure Reduction & Management System (PRMS) to meet the process need at desired pressure.



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Intel’s Dreams Meet Reality – WSJ | Sidnaz Blog


Intel said a global chip-supply shortage could stretch two more years as the U.S. semiconductor giant posted weaker quarterly earnings.



Photo:

David Paul Morris/Bloomberg News

For

Intel Corp.


INTC -1.77%

, it seemed like life was going to get a little better before it got a lot harder. As it turns out, both are happening at the same time.

A booming PC market helped Intel deliver better-than-expected revenue for the first quarter. Total revenue adjusted for the pending sale of the company’s memory business came in about $1.1 billion higher than the midpoint of Intel’s own projection just three months ago as the company’s PC-related revenue rose 8% year over year to $10.6 billion. Revenue in the much smaller Mobileye, programmable solutions and Internet of Things segments also came in higher than Wall Street’s estimates.

But being one of the world’s largest chip makers in the midst of a global chip-production shortage wasn’t enough. Intel’s data-center business, which sells processors to cloud-computing giants to power their fast-growing services, saw its revenue slump 20% year over year—its worst drop on record. The segment faces a challenging comparison with a 42% revenue boom in last year’s first quarter, leading Intel to blame the slump on “cloud inventory digestion.” An even sharper drop in data-center operating profits brought segment operating margins to 23%—a record low for a business that has averaged operating margins of 41% over the past eight quarters.

Not surprisingly, Intel’s share price slumped 2% following the results Thursday afternoon. The sharp drop in data-center margins suggests Intel could be losing further ground to rivals such as Advanced Micro Devices, which is using more advanced production processes at

Taiwan Semiconductor Manufacturing Co.

to field its most competitive chips in years. Intel played down this prospect during its conference call Thursday, instead chalking up the margin pressure to the costs of producing its latest data-center chips on its new and much-delayed 10-nanometer production process.

Whatever the case, the results will temper some of the enthusiasm that has built up for Intel lately. Before the results, the stock had jumped 18% since the company named Pat Gelsinger its new CEO in late January. Mr. Gelsinger laid out an ambitious plan last month to regain the company’s momentum in the most advanced chip-making processes while also opening its factories to producing processors designed by other companies. The plan smartly capitalizes on the industry’s current moment with even the president of the United States calling for billions to subsidize domestic chip-making operations.

But chip-making is the ultimate long game in tech. New fabrication facilities take two to three years to build and equip. Meanwhile, Intel has to keep its own chips competitive while closing its production gap with TSMC, which just boosted its planned capital expenditures for this year to $30 billion—more than 50% above Intel’s own target. Mr. Gelsinger noted Thursday that Intel also plans to be “aggressive on market share.” That is another expensive plan.

Write to Dan Gallagher at [email protected]

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