Tag Archives: Chemicals

Gov. Mike DeWine says Congress needs to “take a look” into East Palestine derailment of train carrying chemicals – CBS News

  1. Gov. Mike DeWine says Congress needs to “take a look” into East Palestine derailment of train carrying chemicals CBS News
  2. LIVE: Ohio train derailment update amid concerns of toxic chemical leak | LiveNOW from FOX LiveNOW from FOX
  3. Posts misuse Ohio River map to distort contamination area The Associated Press – en Español
  4. East Palestine train derailment: People 30 miles away feel impact of Ohio chemical spill The Columbus Dispatch
  5. Residents concerned for safety after Ohio train derailment chemical release NBC4 Columbus
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Dow to Cut 2,000 Jobs Globally

Dow is slashing jobs and shutting down assets as it looks to make cost savings.



Photo:

Sean Proctor/Bloomberg News

Dow Inc.

DOW 0.40%

said it is laying off about 2,000 employees globally as job cuts that have so far been concentrated in the technology sector spread to other parts of the economy.

The Midland, Mich.-based chemicals company said it is targeting $1 billion in cost cuts this year as slowing economic growth and a drop-off in demand weigh on sales.

Dow said it is also shutting down certain assets and broadly looking to align spending with the macroeconomic environment. The company said it expects to book a charge of $550 million to $725 million in the first quarter for costs tied to the cost-cutting moves.

Chief Executive

Jim Fitterling

said the company is optimizing its cost structure amid macroeconomic uncertainties and “challenging energy markets, particularly in Europe.”

Shares of Dow rose less than 1% to close at $58.12 on Thursday.

Dow’s layoffs come after manufacturing conglomerate

3M Co.

said earlier this week that it was cutting 2,500 jobs globally, or about 2.6% of the company, as it confronts weakening demand.

The companies join a wave of technology companies that are cutting thousands of jobs as they recalibrate after growing rapidly at the start of the Covid-19 pandemic. On Wednesday,

International Business Machines Corp.

said it would cut 3,900 jobs, while software company

SAP SE

on Thursday said it would shed 3,000 positions.

Dow on Thursday also posted weaker-than-expected results for the fourth quarter. Revenue fell more than 17% to $11.86 billion, missing analysts’ estimates, with the company citing slowing economic growth around the world and destocking of inventory by customers.

The company’s fourth-quarter profit tumbled to 85 cents a share, down from $2.32 a share a year earlier. Adjusted earnings for the quarter missed estimates by a penny.

“While we see initial positive signs from moderating inflation in the U.S., improving outlook for energy in Europe, and reopening in China, we continue to be prudent and proactive,” Mr. Fitterling said.

Dow said it is targeting $500 million in structural improvements and another $500 million in operating cost reductions. The company said it would look to cut costs tied to purchasing raw materials, logistics and utilities.

Write to Will Feuer at Will.Feuer@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the January 27, 2023, print edition as ‘Dow to Cut Headcount by 2,000.’

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Corporate Layoffs Spread Beyond High-Growth Tech Giants

The headline-grabbing expansion of layoffs beyond high-growth technology companies stands in contrast to historically low levels of jobless claims and news that companies such as

Chipotle Mexican Grill Inc.

and

Airbus SE

are adding jobs.

This week, four companies trimmed more than 10,000 jobs, just a fraction of their total workforces. Still, the decisions mark a shift in sentiment inside executive suites, where many leaders have been holding on to workers after struggling to hire and retain them in recent years when the pandemic disrupted workplaces.

Live Q&A

Tech Layoffs: What Do They Mean?

The creator of the popular layoff tracker Layoffs.fyi Roger Lee and the head of talent at venture firm M13 Matt Hoffman sit down with WSJ reporter Chip Cutter, to discuss what’s behind the recent downsizing and whether it will be enough to recalibrate ahead of a possible recession.

Unlike

Microsoft Corp.

and Google parent

Alphabet Inc.,

which announced larger layoffs this month, these companies haven’t expanded their workforces dramatically during the pandemic. Instead, the leaders of these global giants said they were shrinking to adjust to slowing growth, or responding to weaker demand for their products.

“We are taking these actions to further optimize our cost structure,”

Jim Fitterling,

Dow’s chief executive, said in announcing the cuts, noting the company was navigating “macro uncertainties and challenging energy markets, particularly in Europe.”

The U.S. labor market broadly remains strong but has gradually lost steam in recent months. Employers added 223,000 jobs in December, the smallest gain in two years. The Labor Department will release January employment data next week.

Economists from Capital Economics estimate a further slowdown to an increase of 150,000 jobs in January, which would push job growth below its 2019 monthly average, the year before pandemic began.

There is “mounting evidence of weakness below the surface,”

Andrew Hunter,

senior U.S. economist at Capital Economics wrote in a note to clients Thursday.

Last month, the unemployment rate was 3.5%, matching multidecade lows. Wage growth remained strong, but had cooled from earlier in 2022. The Federal Reserve, which has been raising interest rates to combat high inflation, is looking for signs of slower wage growth and easing demand for workers.

Many CEOs say companies are beginning to scrutinize hiring more closely.

Slower hiring has already lengthened the time it takes Americans to land a new job. In December, 826,000 unemployed workers had been out of a job for about 3½ to 6 months, up from 526,000 in April 2022, according to the Labor Department.

“Employers are hovering with their feet above the brake. They’re more cautious. They’re more precise in their hiring,” said

Jonas Prising,

chief executive of

ManpowerGroup Inc.,

a provider of temporary workers. “But they’ve not stopped hiring.”

Additional signs of a cooling economy emerged on Thursday when the Commerce Department said U.S. gross domestic product growth slowed to a 2.9% annual rate in the fourth quarter, down from a 3.2% annual rate in the third quarter.

Not all companies are in layoff mode.

Walmart Inc.,

the country’s biggest private employer, said this week it was raising its starting wages for hourly U.S. workers to $14 from $12, amid a still tight job market for front line workers. Chipotle Mexican Grill Inc. said Thursday it plans to hire 15,000 new employees to work in its restaurants, while plane maker Airbus SE said it is recruiting over 13,000 new staffers this year. Airbus said 9,000 of the new jobs would be based in Europe with the rest spread among the U.S., China and elsewhere. 

General Electric Co.

, which slashed thousands of aerospace workers in 2020 and is currently laying off 2,000 workers from its wind turbine business, is hiring in other areas. “If you know any welders or machinists, send them my way,” Chief Executive

Larry Culp

said this week.

Annette Clayton,

CEO of North American operations at

Schneider Electric SE,

a Europe-headquartered energy-management and automation company, said the U.S. needs far more electricians to install electric-vehicle chargers and perform other tasks. “The shortage of electricians is very, very important for us,” she said.

Railroad CSX Corp. told investors on Wednesday that after sustained effort, it had reached its goal of about 7,000 train and engine employees around the beginning of the year, but plans to hire several hundred more people in those roles to serve as a cushion and to accommodate attrition that remains higher than the company would like.

Freeport-McMoRan Inc.

executives said Wednesday they expect U.S. labor shortages to continue to crimp production at the mining giant. The company has about 1,300 job openings in a U.S. workforce of about 10,000 to 12,000, and many of its domestic workers are new and need training and experience to match prior expertise, President

Kathleen Quirk

told analysts.

“We could have in 2022 produced more if we were fully staffed, and I believe that is the case again this year,” Ms. Quirk said.

The latest layoffs are modest relative to the size of these companies. For example, IBM’s plan to eliminate about 3,900 roles would amount to a 1.4% reduction in its head count of 280,000, according to its latest annual report.

As interest rates rise and companies tighten their belts, white-collar workers have taken the brunt of layoffs and job cuts, breaking with the usual pattern leading into a downturn. WSJ explains why many professionals are getting the pink slip first. Illustration: Adele Morgan

The planned 3,000 job cuts at SAP affect about 2.5% of the business-software maker’s global workforce. Finance chief

Luka Mucic

said the job cuts would be spread across the company’s geographic footprint, with most of them happening outside its home base in Germany. “The purpose is to further focus on strategic growth areas,” Mr. Mucic said. The company employed around 111,015 people on average last year.

Chemicals giant Dow said on Thursday it was trimming about 2,000 employees. The Midland, Mich., company said it currently employs about 37,800 people. Executives said they were targeting $1 billion in cost cuts this year and shutting down some assets to align spending with the macroeconomic environment.

Manufacturer

3M Co.

, which had about 95,000 employees at the end of 2021, cited weakening consumer demand when it announced this week plans to eliminate 2,500 manufacturing jobs. The maker of Scotch tape, Post-it Notes and thousands of other industrial and consumer products said it expects lower sales and profit in 2023.

“We’re looking at everything that we do as we manage through the challenges that we’re facing in the end markets,” 3M Chief Executive

Mike Roman

said during an earnings conference call. “We expect the demand trends we saw in December to extend through the first half of 2023.”

Hasbro Inc.

on Thursday said it would eliminate 15% of its workforce, or about 1,000 jobs, after the toy maker’s consumer-products business underperformed in the fourth quarter.

Some companies still hiring now say the job cuts across the economy are making it easier to find qualified candidates. “We’ve got the pick of the litter,” said

Bill McDermott,

CEO of business-software provider

ServiceNow Inc.

“We have so many applicants.”

At

Honeywell International Inc.,

CEO

Darius Adamczyk

said the job market remains competitive. With the layoffs in technology, though, Mr. Adamczyk said he anticipated that the labor market would likely soften, potentially also expanding the applicants Honeywell could attract.

“We’re probably going to be even more selective than we were before because we’re going to have a broader pool to draw from,” he said.

Across the corporate sphere, many of the layoffs happening now are still small relative to the size of the organizations, said

Denis Machuel,

CEO of global staffing firm Adecco Group AG.

“I would qualify it more as a recalibration of the workforce than deep cuts,” Mr. Machuel said. “They are adjusting, but they are not cutting the muscle.”

Write to Chip Cutter at chip.cutter@wsj.com and Theo Francis at theo.francis@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Locally caught fish are full of dangerous chemicals called PFAS

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CNN
 — 

Fish caught in the fresh waters of the nation’s streams and rivers and the Great Lakes contain dangerously high levels of PFOS, short for perfluorooctane sulfonic acid, a known synthetic toxin phased out by the federal government, according to a study of data from the US Environmental Protection Agency.

The chemical PFOS is part of a family of manufactured additives known as perfluoroalkyl and polyfluoroalkyl substances, or PFAS, widely used since the 1950s to make consumer products nonstick and resistant to stains, water and grease damage.

Called “forever chemicals” because they fail to break down easily in the environment, PFAS has leached into the nation’s drinking water via public water systems and private wells. The chemicals then accumulate in the bodies of fish, shellfish, livestock, dairy and game animals that people eat, experts say.

“The levels of PFOS found in freshwater fish often exceeded an astounding 8,000 parts per trillion,” said study coauthor David Andrews, a senior scientist at Environmental Working Group, the nonprofit environmental health organization that analyzed the data. The report was published Wednesday in the journal Environmental Research.

In comparison, the EPA has allowed only 70 parts per trillion of PFOS in the nation’s drinking water. Due to growing health concerns, in 2022 the EPA recommended the allowable level of PFOS in drinking water be lowered from 70 to 0.02 parts per trillion.

“You’d have to drink an incredible amount of water — we estimate a month of contaminated water — to get the same exposure as you would from a single serving of freshwater fish,” Andrews said.

“Consuming even a single (locally caught freshwater) fish per year can measurably and significantly change the levels of PFOS in your blood,” Andrews said.

Chemicals in the PFAS family are linked to high cholesterol, cancer and various chronic diseases, as well as a limited antibody response to vaccines in both adults and children, according to a report by the National Academies of Sciences, Engineering, and Medicine.

“This is an important paper,” said toxicologist Linda Birnbaum, former director of the National Institute for Environmental Health Sciences and the National Toxicology Program.

“To find this level of contamination in fish across the country, even in areas not close to industry where you might expect heavy contamination, is very concerning. These chemicals are everywhere,” she said.

Read more: Doctors should test levels of PFAS in people at high risk, report says

It’s nearly impossible to avoid PFAS, experts say. Manufacturers add the chemicals to thousands of products, including nonstick cookware, mobile phones, carpeting, clothing, makeup, furniture and food packaging.

A 2020 investigation found PFAS in the wrapping of many fast foods and “environmentally friendly” molded fiber bowls and containers.

A 2021 study found PFAS in 52% of tested cosmetics, with the highest levels in waterproof mascara (82%), foundations (63%) and long-lasting lipstick (62%). Polytetrafluoroethylene, the coating on nonstick pans, was the most common additive.

Read more: Makeup may contain potentially toxic chemicals called PFAS, study finds

In fact, PFAS chemicals have been found in the blood serum of 98% of Americans, according to a 2019 report using data from the US Centers for Disease Control and Prevention’s National Health and Nutrition Examination Survey.

“These chemicals are ubiquitous in the American environment. More than 2,800 communities in the US, including all 50 states and two territories, have documented PFAS contamination,” Dr. Ned Calonge, an associate professor of epidemiology at the Colorado School of Public Health and chair of the Academies committee that wrote the report, told CNN previously.

Read more: Dangerous chemicals found in food wrappers at major fast-food restaurants and grocery chains, report says

Scientists at the Environmental Working Group used data from the EPA’s own monitoring programs — the National Rivers and Streams Assessment, which has been periodically testing stream conditions since 2008, and the Great Lakes Human Health Fish Fillet Tissue Study, which tests lake water every five years.

“The analysis focused on EPA wild-caught fish in rivers, streams and throughout the Great Lakes from 2013 to 2015 as that was the latest data available,” Andrews said.

The contamination was widespread, impacting “nearly every fish across the country,” he said. “I believe there was one sample without detected levels of PFOS.”

The EWG created an interactive map of the results with details for each state. Fish caught near urban areas contained nearly three times more PFOS and overall PFAS than those caught in nonurban locations, the study found. The highest levels were found in fish from the Great Lakes.

The analysis showed PFOS accounted for an average 74% of the contamination in the fish. The remaining 25% was a mixture of other PFAS known to be equally damaging to human health, Andrews said.

CNN reached out to the EPA for comment but did not hear back before this story published.

Based on the study’s findings, people who fish for sport might “strongly” consider releasing their catch instead of taking the fish home for a meal, Andrews said.

Yet many people in lower socioeconomic groups, indigenous peoples and immigrants in the US rely on eating freshly caught fish.

“They need it for food or because it’s their culture,” Birnbaum said. “There are Native American tribes and Burmese immigrants and others who fish because this is who they are. This is key to their culture. And you can’t just tell them not to fish.”

Read more: Water- and stain-resistant products contain toxic plastics, study says. Here’s what to do

The predominant chemical in the fish, PFOS, and its sister perfluorooctanoic acid, or PFOA, are known as “long-chain” PFAS, made from an 8-carbon chain.

Read more: Plastics and pesticides: Health impacts of synthetic chemicals in US products doubled in last 5 years, study finds

Manufacturers agreed in the early 2000s to voluntarily stop using long-chain PFAS in US consumer products, although they can still be found in some imported items. Due to growing health concerns, the use of PFOS and PFOA in food packaging was phased out in 2016 by the US Food and Drug Administration.

However, industry reworked the chemicals by making them into 4- and 6-carbon chains — today over 9,000 different PFAS exist, according to the CDC. Experts say these newer versions appear to have many of the same dangerous health effects as the 8-chain PFAS, leaving consumers and the environment still at risk.

Many of these longer-chain PFAS can be stored for years in different organs in the human body, according to the National Academies report. Scientists are examining the impact of newer versions.

“Some of these chemicals have half-lives in the range of five years,” National Academies report committee member Jane Hoppin, an environmental epidemiologist and director of the Center for Human Health and the Environment at North Carolina State University in Raleigh, told CNN previously.

Read more: FDA must do more to regulate thousands of chemicals added to your food, petitioners say

“Let’s say you have 10 nanograms of PFAS in your body right now. Even with no additional exposure, five years from now you would still have 5 nanograms,” she said. “Five years later, you would have 2.5 and then five years after that, you’d have one 1.25 nanograms. It would be about 25 years before all the PFAS leave your body.”

That’s why it’s “no surprise” to find such high levels of PFOA in freshwater fish, said the director of environmental pediatrics at NYU Langone Health, Dr. Leonardo Trasande, who was not involved in the new study.

“These truly are ‘forever chemicals,’” Trasande said. “This reinforces the reality that we need to get all PFAS out of consumer products and people’s lives.”

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Carus chemical explosion: La Salle, Illinois residents voice concerns after massive fire spews apparent chemicals in air

LA SALLE, Ill. (WLS) — There will be an update Thursday afternoon after a massive fire erupted at the Carus Chemical plant in La Salle Wednesday morning. Some neighbors have concerns.

The residential neighborhood around the plant appears to have been covered with chemicals.

Carus has set up a hotline for La Salle residents at (815) 224-6662.

A shelter-in-place was ordered for several hours as a precaution, but has since been lifted.

La Salle is about 94 miles southwest of Chicago.

Authorities give afternoon update on La Salle chemical plant fire

Residents are free to go about their normal business Thursday morning, heading to work, school or just going about their regular routine, as officials work to find out what happened.

Video of a fire ball during the incident has been widely shared on social media.

“I pull up to the stop sign, and hear a loud explosion,” witness Khaleef Hammad said.

Chopper 7HD flies above chemical fire

Hammad was just a block away from the plant when he captured the moment it caught fire.

“Oh it was loud. It was multiple explosions. Not just one, it was quite a few,” he said.

RELATED: ‘Get out of the building!’: Rockdale fire at trucking company captured on police bodycam video

The chemical plant manufactures potassium permanganate, which is non-combustible, but can accelerate the burning of explosive material once it catches fire.

Residents shared photos of a substance coating their homes, yards, decks and cars.

“When I hit the windshield wipers, it looked black to me, then it turned green and now it’s like a brown color. And it’s caustic. I know what it is; they know what it is,” said resident Jamie Hicks.

A viewer shared pictures of what she said the substance did to her yard furniture. It appears to show it rusted out with a hole eaten through the furniture — which she said has been since the fire.

As firefighters contained, then extinguished the chemical fire, a representative with Carus Chemical tried to reassure residents.

Massive fire erupts at LaSalle chemical plant

“Some of the material that was released during the incident is used to as a drinking water material,” said Carus Vice President Allen Gibbs. “If you come in contact with that material, it can cause staining on the skin. The stain does not pose a health threat.

Officials are warning residents to avoid green residue that has been seen in the area. The La Salle Police Department said an oxidizer, which appears green in color, has been released. Police said not to touch the substance, and that it can be deactivated.

“In order to deactivate it, you will need a 1:1:1 mixture of: 1 gallon of water, 1 gallon of peroxide, 1 gallon of vinegar,” police said.

A viewer shared pictures of what she says the green residue substance from the La Salle chemical plant fire did to her yard furniture.

As environmental workers monitor the air and water for any possible contamination, the mayor of La Salle is thankful, acknowledging it could have been worse.

“Thank God (it was a) situation where nobody (was) killed or seriously injured … miracle in itself,” Mayor Jeff Grove said.

RELATED: Morris fire: Industrial blaze prompts evacuations of 1K nearby homes

One firefighter was slightly injured at the scene of that massive blaze, which broke out about 9 a.m. at the plant, located at 1500 Eighth St.

Copyright © 2023 WLS-TV. All Rights Reserved.

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Rare good news for planet: Ozone layer on track to recover within decades as chemicals are phased out



CNN
 — 

In rare good news for the planet, Earth’s ozone layer is on track to recover completely within decades, as ozone-depleting chemicals are phased out across the world, according to a new United Nations-backed assessment.

The ozone layer protects the planet from harmful ultraviolet rays. But since the late 1980s, scientists have sounded the alarm about a hole in this shield, caused by ozone-depleting substances including chlorofluorocarbons, dubbed CFCs, often found in refrigerators, aerosols and solvents.

International cooperation helped stem the damage. The use of CFCs has decreased 99% since the Montreal Protocol went into force in 1989, which began the phase-out of those and other ozone-harming chemicals, according to the assessment by a panel of experts published on Monday.

If global policies stay in place, the ozone layer is expected to recover to 1980 levels by 2040 for most of the world, the assessment found. For polar areas, the timeframe for recovery is longer: 2045 over the Arctic and 2066 over the Antarctic.

“Ozone action sets a precedent for climate action. Our success in phasing out ozone-eating chemicals shows us what can and must be done – as a matter of urgency – to transition away from fossil fuels, reduce greenhouse gases and so limit temperature increase,” said Secretary General for the World Meteorological Organization Petteri Taalas.

Ozone-depleting gases are also potent greenhouse gases, and without a ban the world could have seen additional warming of up to 1 degree Celsius, according to a 2021 study in the journal Nature. The planet has already warmed around 1.2 degrees since the industrial revolution, and scientists have warned that it should be limited to 1.5 degrees to prevent the worst consequences of the climate crisis. Warming beyond 1.5 degrees would dramatically increase the risk of extreme drought, wildfires, floods and food shortages, scientists have reported.

For the first time in this assessment, which is published every four years, scientists also looked at the prospect of solar geoengineering: the attempt to reduce global warming through measures such as spraying aerosols into the stratosphere to reflect sunlight out of the earth’s atmosphere.

They found stratospheric aerosol injection could help reduce climate warming but warned there may be unintended consequences. Deploying the technology “could also affect stratospheric temperatures, circulation and ozone production and destruction rates and transport,” the report, published every four years, found.

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3M to cease making and using dangerous ‘forever chemicals’

Comment

Consumer products giant 3M announced Tuesday that it will stop making and using a ubiquitous class of long-lasting, hazardous chemicals that can pose health risks to millions of Americans.

The Minnesota-based conglomerate, which makes widely used products including sticky notes, adhesive tape and safety masks, pledged to “exit all manufacturing” and “work to discontinue the use” of perfluoroalkyl and polyfluoroalkyl substances, or PFAS, across its products by the end of 2025, according to a news release. More commonly known as “forever chemicals,” the compounds do not break down naturally and have been found in the water supplies of communities across the country.

“With these two actions, 3M is committing to innovate toward a world less dependent upon PFAS,” the release said.

EPA warns toxic ‘forever chemicals’ more dangerous than once thought

Tuesday’s announcement comes as 3M is facing an onslaught of lawsuits from states and individuals who are claiming contamination from PFAS harmed their health. Bloomberg Intelligence estimates long-term legal liabilities could wind up costing the company $30 billion or more. 3M’s current annual net sales of manufactured PFAS are approximately $1.3 billion, according to the company.

Exposure to certain levels of PFAS chemicals has been linked to infertility, developmental issues or delays in children, and several types of cancer, among other health concerns. Despite these known risks to humans, the chemicals, which help make consumer goods resistant to water as well as stains and grease, continue to show up in products such as cosmetics, dental floss, food packaging and clothing.

The Biden administration has taken steps to regulate PFAS in various ways. Last year, the Environmental Protection Agency said it would set enforceable drinking water limits on certain compounds.

Since then, the EPA has publicly warned that the chemicals pose a greater danger to human health than regulators previously thought. In August, the agency also proposed classifying two of the most common of these chemical compounds — PFOA and PFOS — as hazardous.

EPA Administrator Michael Regan tweeted Tuesday afternoon that “protecting people from PFAS pollution is one of my top priorities,” and he vowed “to hold polluters accountable and protect public health.”

Major U.S. manufacturers including 3M have long agreed to stop making PFOA and PFOS after their health risks became clear. 3M committed in 2000 to phase out the two chemicals, but it continued to use other types of “forever chemicals,” of which there are thousands with varying properties.

In Tuesday’s announcement, 3M argued the class of chemicals continues to be “essential for modern life.” The latest decision “is based on an evolving external landscape,” the company said, pointing to regulatory crackdowns as well as pressure from consumers and investors.

“While PFAS can be safely made and used, we also see an opportunity to lead in a rapidly evolving external regulatory and business landscape to make the greatest impact for those we serve,” 3M chairman and chief executive Mike Roman said in the news release.

EPA finally moves to label some ‘forever chemicals’ as hazardous

The company did not say exactly how it plans to achieve its targets, noting, “We have already reduced our use of PFAS over the past three years through ongoing research and development, and will continue to innovate new solutions for customers.”

John Rumpler, senior clean water director for Environment America, called 3M’s announcement “great news for clean water.”

“For the sake of our health and our environment, we hope 3M will phase out PFAS production before 2025 and that other companies will follow suit,” he said in a statement.

Biden administration moves to curtail toxic ‘forever chemicals’

Others questioned the company’s motivation.

Erik Olson, a senior strategic director at the Natural Resources Defense Council, said in an interview that 3M’s announcement almost certainly stems in part from the “massive liability” the company is facing.

“Virtually every American is walking around with PFAS in their bodies,” Olson said. “The handwriting is on the wall that continuing to make these chemicals is putting their shareholders and their company at risk.”

‘Not a problem you can run away from’: Communities confront the threat of unregulated chemicals in their drinking water

Olson and other environmental advocates are hoping 3M’s decision to move away from PFAS chemicals sends a powerful signal to other companies to “follow suit and get out of this dangerous chemistry,” he said. But he is skeptical that will happen quickly.

“There is a risk that others will see a void to be filled,” he said.

Sign up for the latest news about climate change, energy and the environment, delivered every Thursday

Dino Grandoni contributed to this report.



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3M to Stop Making, Discontinue Use of ‘Forever Chemicals’

3M Co.

MMM -1.08%

said it would stop making so-called forever chemicals and cease using them by the end of 2025, as criticism and litigation grow over the chemicals’ alleged health and environmental impact.

3M Chief Executive

Mike Roman

said that the decision was influenced by increasing regulation of the chemicals known as PFAS, and a growing market for substitute options.

“Customers are taking note of PFAS regulations. They’re looking for alternatives,” Mr. Roman said in an interview. “We’re finding other solutions that have the same properties,” he said.

The company’s move involves chemicals used to make nonstick cookware, food packaging and other consumer and industrial products. 3M estimated its current annual sales of the chemicals total about $1.3 billion.

Perfluoroalkyl and polyfluoroalkyl substances, or PFAS, are commonly called “forever chemicals” because they take a long time to break down in the environment. Such chemicals include highly durable compounds long prized by manufacturers for their resistance to heat, and their ability to repel water, grease and stains.

In recent decades, research has linked exposure to some forms of the chemicals with health problems including kidney and testicular cancers, thyroid disease and high cholesterol, according to the Environmental Protection Agency. The synthetic compounds have also been found in drinking water, including some municipal systems and private wells, as well as in rainwater around the world.

Regulators and environmental groups have taken aim at the chemicals, and thousands of lawsuits alleging contamination and illness have been filed in recent years targeting 3M and other manufacturers.

3M stopped producing some types of PFAS chemicals in the early 2000s but has continued to make other types, which the company has said can be safely produced and used. 3M said Tuesday it would stop making all fluoropolymers, fluorinated fluids and PFAS-based additive products by the end of 2025.

The company also said it would stop using PFAS across its products by the end of 2025, saying that it has already reduced its use of the substances over the past three years.

3M’s shares declined about 0.5% in midday trading, while major U.S. stock indexes slightly increased. The company’s stock has fallen about 29% so far this year, compared with a 19% decline in the S&P 500 stock index.

The EPA has said there are roughly 600 PFAS chemicals in commercial use today. The American Chemistry Council, which represents chemical makers, said Tuesday that PFAS are integral to thousands of products in technologies including semiconductors, batteries for electric vehicles and 5G technology.

The group said its members are dedicated to the responsible production, use, management and disposal of PFAS chemistries, and that it would continue to work with the EPA toward policies that protect human health and allow the chemicals to continue to be used.

3M’s exit from PFAS was seen as a victory by environmental groups that for years have raised alarms over the chemicals.

Scott Faber, senior vice president of government affairs at the Environmental Working Group, said he didn’t think 3M will ever be held fully accountable for producing the chemicals. “But by exiting the market they have sent a powerful signal to the other polluters that it’s simply unaffordable to poison all of us,” Mr. Faber said.

3M’s net sales of PFAS chemicals represent about 4% of the company’s total annual sales, according to research by RBC Capital Markets. “This is a step in the right direction for 3M given all the regulatory scrutiny of PFAS chemicals,” RBC analysts wrote in a note to investors Tuesday.

Over the course of exiting the business of manufacturing the chemicals, 3M said it expects to incur pretax charges of about $1.3 billion to $2.3 billion, including a $700 million to $1 billion charge in the current quarter. The St. Paul, Minn.-based manufacturer said it intends to fulfill current contractual obligations during the transition period.

The EPA in August proposed designating two forms of PFAS chemicals as hazardous substances under the federal superfund law. The American Chemistry Council and companies such as 3M opposed the move, saying that it wasn’t based on the best available science and that it wouldn’t speed up remediation of contaminated sites.

Industry analysts said plant cleanup costs are likely to increase as the EPA uses broad discretion to impose cleanup terms under the Superfund designation. They said the hazardous substance designation also likely would hinder sales growth for the PFAS chemicals that 3M continues to produce, as customers look for alternatives.

3M pioneered the development of PFAS chemicals in the late 1940s, building on atomic research that used fluorine gas. By bonding fluorine with carbon, 3M found it could create durable compounds that could be adapted for use in consumer and industrial products.

3M’s plants where PFAS chemicals are produced have come under increasing regulatory focus for soil and water contamination. 3M has committed billions of dollars to clean up plant sites in recent years, including an $850 million settlement with the state of Minnesota related to a plant in Cottage Grove, Minn. The company also agreed earlier this year to provide about $600 million to remediate contamination connected to a plant in Belgium where PFAS chemicals have been produced.

3M also produces PFAS chemicals at plants in Alabama, Illinois and Germany.

3M phased out production of two PFAS chemicals, known as PFOA and PFOS, in the early 2000s. Those two forms of PFAS chemicals have been at the center of thousands of lawsuits targeting 3M and other manufacturers.

Write to Kris Maher at Kris.Maher@wsj.com and Bob Tita at robert.tita@wsj.com

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Key cause of type 2 diabetes confirmed: Chemicals produced to break down sugar worsens condition

How high blood sugar REALLY causes type 2 diabetes: Chemicals produced when glucose is broken down are to blame, study finds

  • Oxford University researchers looked into how type 2 diabetes progresses 
  • Found chemicals released when sugar is broken down cause patients’ decline
  • Discovery could lead to new treatments that could slow the condition’s effects 

For decades, scientists have been puzzled over how exactly high blood sugar causes type 2 diabetes.

But Oxford University researchers may finally have the answer.

Tests revealed it wasn’t the elevated glucose levels that were directly to blame for the pancreas being robbed of its insulin-making ability. 

Instead, they found glucose metabolites — the chemicals released when sugar is broken down — rather than glucose itself is behind the decline.

The discovery could lead to diabetes patients being given new treatments to slow down glucose metabolism, preventing the condition getting worse, they said.

Type 2 diabetes affects approximately 2million people in Britain and 37million in the US. It occurs when blood sugar is too high, which can lead to complications including blindness, kidney failure and nerve damage if left uncontrolled.

Patients are currently encouraged to eat well and exercise to maintain a healthy weight to slow its progression.

Medication like Glucophage to improve insulin function is usually prescribed later on if diet and exercise is not effective alone.

However, the latest research could lead to new drugs that could stop the disease getting to that point in the first place.

Oxford University researchers found glucose metabolites — the chemicals released when sugar is broke down — rather than glucose itself is behind type 2 diabetes progression

WHAT IS TYPE 2 DIABETES? 

Type 2 diabetes is a condition which causes a person’s blood sugar to get too high.

More than 4million people in the UK are thought to have some form of diabetes.

Type 2 diabetes is associated with being overweight and you may be more likely to get it if it’s in the family.

The condition means the body does not react properly to insulin – the hormone which controls absorption of sugar into the blood – and cannot properly regulate sugar glucose levels in the blood.

Excess fat in the liver increases the risk of developing type 2 diabetes as the buildup makes it harder to control glucose levels, and also makes the body more resistant to insulin. 

Weight loss is the key to reducing liver fat and getting symptoms under control.

Symptoms include tiredness, feeling thirsty, and frequent urination.

It can lead to more serious problems with nerves, vision and the heart.

Treatment usually involves changing your diet and lifestyle, but more serious cases may require medication.

Source: NHS Choices; Diabetes.co.uk

 

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Co-author Professor Frances Ashcroft, a physiologist, said: ‘This is potentially a useful way to try to prevent beta-cell decline in diabetes. 

‘Because glucose metabolism normally stimulates insulin secretion, it was previously hypothesised that increasing glucose metabolism would enhance insulin secretion in T2D [type 2 diabetes] and glucokinase activators were trialled, with varying results.’

She added: ‘Our data suggests that glucokinase activators could have an adverse effect and, somewhat counter-intuitively, that a glucokinase inhibitor might be a better strategy to treat T2D. 

‘Of course, it would be important to reduce glucose flux in T2D to that found in people without diabetes — and no further. 

‘But there is a very long way to go before we can tell if this approach would be useful for treating beta-cell decline in T2D. 

‘In the meantime, the key message from our study if you have type 2 diabetes is that it is important to keep your blood glucose well controlled.’

The study, published in the journal Nature Communications, looked at the effects of hypoglycaemia — high blood sugar — in diabetic mice.

They measured how much insulin the mice released when given sugar for those with low blood glucose and those with chronic hypoglycaemia.

Mice were given drugs that blocked glucokinase — an enzyme that aids the break down of blood glucose — for two days to see whether it was glucose or the break down of glucose that causes the normally lower levels of insulin in those with hypoglycaemia.

Results showed the drug had little effect on the low blood sugar mice but ‘largely prevented the dramatic reduction in GSIS and insulin content produced by chronic hyperglycaemia’.

This lower levels of insulin in those with hypoglacaemia was being caused by the breakdown of glucose, not the sugar itself, the team said. 

When people eat carbohydrates, the food is broken down into blood sugar. This tells the pancreas to release insulin, which allows glucose to enter the body’s cells.

But over time, high blood sugar levels can cause insulin resistance. 

Because the insulin isn’t as effective at breaking down the sugars, it causes the body to produce more and more of it.

Eventually, this leads to the pancreas becoming worn out, sending the system out of whack and causing blood sugar levels to stay high.



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The Dow soars, Big Tech tumbles: What’s next for stocks as investors await Fed guidance

The past week offered a tale of two markets, with gains for the Dow Jones Industrial Average putting the blue-chip gauge on track for its best October on record while Big Tech heavyweights suffered a shellacking that had market veterans recalling the dot-com bust in the early 2000s.

“You have a tug of war,” said Dan Suzuki, deputy chief investment officer at Richard Bernstein Advisors LLC (RBA), in a phone interview.

For the technology sector, particularly the megacap names, earnings were a major drag on performance. For everything else, the market was short-term oversold at the same time optimism was building over expectations the Federal Reserve and other major global central banks will be less aggressive in tightening monetary policy in the future, he said.

Read: Market expectations start to shift in direction of slower pace of rate hikes by Fed

What’s telling is that the interest-rate sensitive tech sector would usually be expected to benefit from a moderation of expectations for tighter monetary policy, said Suzuki, who contends that tech stocks are likely in for a long period of underperformance versus their peers after leading the market higher over the last 12 years, a performance capped by soaring gains following the onset of COVID-19 pandemic in 2020.

RBA has been arguing that there was “a major bubble within major portions of the equity market for over a year now,” Suzuki said. “We think this is the process of the bubble deflating and we think there’s probably further to go.”

The Dow
DJIA,
+2.59%
surged nearly 830 points, or 2.6%, on Friday to end at a two-month high and log a weekly gain of more than 5%. The blue-chip gauge’s October gain was 14.4% through Friday, which would mark its strongest monthly gain since January 1976 and its biggest October rise on record if it holds through Monday’s close, according to Dow Jones Market Data.

While it was a tough week for many of Big Tech’s biggest beasts, the tech-heavy Nasdaq Composite
COMP,
-8.39%
and tech-related sectors bounced sharply on Friday. The tech-heavy Nasdaq swung to a weekly gain of more than 2%, while the S&P 500
SPX,
+2.46%
rose nearly 4% for the week.

Big Tech companies lost more than $255 billion in market capitalization in the past week. Apple Inc.
AAPL,
+7.56%
escaped the carnage, rallying Friday as investors appeared okay with a mixed earnings report. A parade of disappointing earnings sank shares of Facebook parent Meta Platforms Inc.
META,
+1.29%,
Google parent Alphabet Inc.
GOOG,
+4.30%

GOOGL,
+4.41%,
Amazon.com Inc.
AMZN,
-6.80%
and Microsoft
MSFT,
+4.02%.

Mark Hulbert: Technology stocks tumble — this is how you will know when to buy them again

Together, the five companies have lost a combined $3 trillion in market capitalization this year, according to Dow Jones Market Data.

Opinion: A $3 trillion loss: Big Tech’s horrible year is getting worse

Aggressive interest rate increases by the Fed and other major central banks have punished tech and other growth stocks the most this year, as their value is based on expectations for earnings and cash flow far into the future. The accompanying rise in yields on Treasurys, which are viewed as risk-free, raises the opportunity cost of holding riskier assets like stocks. And the further out those expected earnings stretch, the bigger the hit.

Excessive liquidity — a key ingredient in any bubble — has also contributed to tech weakness, said RBA’s Suzuki.

And now investors see an emerging risk to Big Tech earnings from an overall slowdown in economic growth, Suzuki said.

“A lot of people have the notion that these are secular growth stocks and therefore immune to the ups and downs of the overall economy — that’s not empirically true at all if you look at the history of profits for these stocks,” he said.

Tech’s outperformance during the COVID-inspired recession may have given investors a false impression, with the sector benefiting from unique circumstances that saw households and businesses become more reliant on technology at a time when incomes were surging due to fiscal stimulus from the government. In a typical slowdown, tech profits tend to be very economically sensitive, he said.

The Fed’s policy meeting will be the main event in the week ahead. While investors and economists overwhelmingly expect policy makers to deliver another supersize 75 basis point, or 0.75 percentage point, rate increase when the two-day gathering ends on Wednesday, expectations are mounting for Chairman Jerome Powell to indicate a smaller December may be on the table.

However, all three major indexes remain in bear markets, so the question for investors is whether the bounce this week will survive if Powell fails to signal a downshift in expectations for rate rises next week.

See: Another Fed jumbo rate hike is expected next week and then life gets difficult for Powell

Those expectations helped power the Dow’s big gains over the past week, alongside solid earnings from a number of components, including global economic bellwether Caterpillar Inc.
CAT,
+3.39%.

Overall, the Dow benefited because it’s “very tech-light, and it’s very heavy in energy and industrials, and those have been the winners,” Art Hogan, chief market strategist at B. Riley Wealth Management told MarketWatch’s Joseph Adinolfi on Friday. “The Dow just has more of the winners embedded in it and that has been the secret to its success.”

Meanwhile, the outperformance of the Invesco S&P 500 Equal Weight ETF
RSP,
+2.08%,
up 5.5% over the week, versus the market-cap-weighted SPDR S&P 500 ETF Trust
SPY,
+2.38%,
underscored that while tech may be vulnerable to more declines, “traditional parts of the economy, including sectors that trade at a lower valuation, are proving resilient since the broad markets bounced nearly two weeks ago,” said Tom Essaye, founder of Sevens Report Research, in a Friday note.

“Stepping back, this market and the economy more broadly are starting to remind me of the 2000-2002 setup, where extreme tech weakness weighed on the major indices, but more traditional parts of the market and the economy performed better,” he wrote.

Suzuki said investors should remember that “bear markets always signal a change of leadership” and that means tech won’t be taking the reins when the next bull market begins.

“You can’t debate that we’ve already got a signal and the signal is telling up that next cycle not going to look anything like the last 12 years,” he said.

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