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Oil Prices Rise On Slow Return Of US Supply

Yamaha’s RayZR 125 FI Hybrid comes to town

Yamaha has launched the updated RayZR 125 Fi Hybrid and Street Rally 125 Fi Hybrid with prices starting from ₹ 76,830 for the RayZR 125 Fi Hybrid drum brake version. The disc brake version of the RayZR is priced at ₹ 79,830 with the Street Rally costing ₹ 83,830 (all prices, ex-showroom Delhi).

The biggest change to the scooter is the addition of the Smart Motor Generator (SMG) that has an added functionality of ‘adopting the hybrid system’, says Yamaha. It basically works like an electric motor, providing power assist when taking off from standstill or going up an incline.

The rider gets a notification on the instrument cluster when the power assist function is in operation. The system cuts off power assist three seconds after setting off, after a predetermined rpm is crossed or when the rider closes the throttle. This is the same unit as the one on the Fascino. In fact, the RayZR also makes the same 8.2hp and 10.3Nm from its 125cc engine.

There has been no increase in the 99kg kerb weight, despite the addition of the system. Both variants of the updated scooter also get Bluetooth connectivity, LED headlights and new colour schemes.

China's cabinet says it will stabilise market expectations- state media

BEIJING (Reuters) – A meeting of China’s cabinet chaired by Premier Li Keqiang said China will stabilise market expectations and maintain stable economic operations, according to a report by state radio.

China will improve the business environment and correct monopolistic behaviours by intermediaries in the food and drug sectors, according to the report.

Pactiv Evergreen Revises Guidance; Reaches Agreement To Acquire Fabri-Kal

Pactiv Evergreen Inc. (PTVE) said it profitability is expected to be negatively impacted by a number of significant external challenges. As a result, the company revised its fiscal 2021 adjusted EBITDA guidance to $550 million. The revised guidance is preliminary and will be updated in third quarter results release.

The company noted that the continued increase in raw materials costs, particularly the cost of resins, and increased transportation costs has delayed its ability to recover these costs into 2022. The continuing labor shortage is anticipated to impact volumes.

Separately, Pactiv Evergreen said its subsidiary, Pactiv Evergreen Group Holdings Inc. has agreed to acquire Fabri-Kal, a manufacturer of foodservice and consumer brand packaging solutions. The deal is valued at approximately $380 million. Headquartered in Kalamazoo, Michigan, Fabri-Kal operates four manufacturing plants in the U.S.

Paris attacks suspect Salah Abdeslam tells court he is ‘a soldier of Islamic State’

Paris attacks suspect Salah Abdeslam has told a court he is “a soldier of Islamic State”.

Pactiv Evergreen Revises Guidance; Reaches Agreement To Acquire Fabri-Kal

Pactiv Evergreen Inc. (PTVE) said it profitability is expected to be negatively impacted by a number of significant external challenges. As a result, the company revised its fiscal 2021 adjusted EBITDA guidance to $550 million. The revised guidance is preliminary and will be updated in third quarter results release.

The company noted that the continued increase in raw materials costs, particularly the cost of resins, and increased transportation costs has delayed its ability to recover these costs into 2022. The continuing labor shortage is anticipated to impact volumes.

Separately, Pactiv Evergreen said its subsidiary, Pactiv Evergreen Group Holdings Inc. has agreed to acquire Fabri-Kal, a manufacturer of foodservice and consumer brand packaging solutions. The deal is valued at approximately $380 million. Headquartered in Kalamazoo, Michigan, Fabri-Kal operates four manufacturing plants in the U.S.

Advent Int’l To Divest Distribution International To TopBuild For $1 Bln All-cash Deal – Quick Facts

Private equity investor Advent International announced Wednesday an agreement to sell Distribution International Inc. or DI, to TopBuild Corp. (BLD) in an all-cash transaction valued at $1.0 billion.

TopBuild, a leading installer and distributor of insulation and building material products to the U.S. construction industry, expects to fund the acquisition using a combination of debt financing and cash on hand.

The acquisition of Distribution International is highly strategic for TopBuild and aligns with its strategy of seeking well-managed companies with experienced, talented teams with expertise in our core business of insulation and adjacent products.

DI provides TopBuild with a direct entry and immediate leadership position in the $5 billion mechanical insulation market, which is a highly attractive and complementary new growth platform for TopBuild.

The transaction, which has been approved by TopBuild’s Board of Directors, is subject to regulatory approval and other customary closing conditions and is expected to close in the fourth quarter of 2021.

Oil Prices Rise On Slow Return Of US Supply

Oil prices rose over 1 percent on Wednesday in light of the ongoing high production outages in the Gulf of Mexico.

Benchmark Brent crude futures climbed 1.1 percent to $72.44 a barrel, while U.S. crude futures were up 1.3 percent at $69.22.

More than 80 percent of oil production in the Gulf of Mexico remains shut due to structural damage caused by Hurricane Ida, leading to ongoing power outages.

The resulting disruption has seen the value of regional oil grades like Mars Blend jump to their highest level since January, according to data compiled by Bloomberg.

“Because of this outage on the supply side, the global oil market is likely to be more under-supplied in the short term than previously anticipated,” Commerzbank analyst Carsten Fritsch said.

Oil prices were also boosted by reports suggesting that there are pockets of robust demand emerging in some regions including Europe.

Traders await inventory data from the American Petroleum Institute industry group later in the day and the U.S. Energy Information Administration on Thursday for further direction.