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According to Nikkei: Aisin Seiki has resumed some production at its Kumamoto plant after a shutdown.On August 3, Premier Li Qiang signed a State Council decree promulgating the revised "Regulations on the Protection of Integrated Circuit Layout Designs," which will take effect on October 15, 2026. The Regulations aim to protect the exclusive rights to integrated circuit layout designs, encourage technological innovation in integrated circuits, and promote scientific and technological development. The Regulations consist of 6 chapters and 54 articles, with the main revisions as follows: First, clarifying overall requirements. The regulations stipulate that the protection of integrated circuit layout designs should implement the Party and the States intellectual property strategy, expand the scope of protection, and emphasize honesty and good faith. Second, improving application and examination procedures. The regulations regulate false applications, refine material requirements, improve rejection and revocation procedures, and add a rights restoration procedure. Third, strengthening the protection of exclusive rights. The regulations clarify the standards for defining the scope of rights and increase the amount of compensation for infringement. Fourth, promoting the application of layout designs. The regulations strengthen public services, clarify reward measures, improve requirements for transfer, licensing, and pledge, and regulate the exercise of rights by co-owners.Nissan CEO: We are evaluating production plans to determine how quickly we can make up for these production losses.Futures News, August 3rd: LME nickel opened lower today, with attention focused on the support level around $17,000. In refined nickel, SHFE nickel fluctuated and closed lower in the afternoon. Current spot market sales are moderate, with some users taking small-scale orders, but overall procurement is limited, and some continue to observe the market. For nickel briquettes, a small amount of supply was released again, with prices slightly discounted. Regarding nickel pig iron, our website quoted nickel pig iron (8-12%) at 1150-1160 yuan/nickel point and nickel pig iron (7-10%) at 1140-1150 yuan/nickel point, unchanged. Recent supply reductions have provided price support, while increased downstream production may support improved demand. In stainless steel, futures continued their rebound, with the main contract approaching the 14,700 yuan level again. In the spot market, short-term cost support is not weak, but actual consumption is generally weak. Some cautious analysts believe that upward price momentum seems limited, but with steel mills maintaining their price stance recently, it may support the market trend. Short-term market speculation continues. Overall, the RMB exchange rate against the US dollar has risen to a three-year high, providing support for price trends. Although domestic demand is generally weak in the short term, in the long term, green transformation, electrification, and the artificial intelligence industry will help boost additional demand for this metal, which has wide applications in the power and construction sectors. Some market participants hold a bullish view. (Shanghai Metals Network)Nissans CFO: If the yen remains at its current level, the forecast for this fiscal year may have some room for upward movement due to foreign exchange factors.

Phillips 66 Trademarks Mark Lashier will Succeed Greg Garland as CEO

Haiden Holmes

Apr 13, 2022 09:44

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Lashier, a chemical engineer who joined the firm three decades ago in the chemicals division, was named president and chief operating officer a year ago after leading Chevron Phillips Chemical Co, the company's joint venture with Chevron Corp (NYSE:CVX), since 2017.


Garland has considered refining as a mature company and has concentrated its efforts on expanding its energy infrastructure, chemicals, and establishing a presence in electric vehicle battery components. It spent around $150 million last year for a 16.5% share in Novonix Ltd, an Australian provider of lithium-ion battery materials.


Garland "built a market-leading diversified energy manufacturing and logistics organization while investing for the future and producing solid financial returns," according to Glen Tilton, lead independent director of Philips 66.


Although the Houston company's non-refining initiatives have generated great shareholder returns, its shares have lately underperformed bigger competitors that benefitted from increasing gasoline margins during pandemic lockdowns.


Lashier is expected to pursue Garland's diversification approach, which includes biofuels, hydrogen, and battery components. However, he must demonstrate that he can match competitors Marathon Petroleum Corp (NYSE:MPC) and Valero Energy (NYSE:VLO), which increased shareholder returns by selling off retail operations and diversifying into renewable diesel, analysts said.


Phillips 66 (NYSE:PSX) traded at $81.97 on Tuesday, up 13% year to date, compared to 34% year-to-year gains at Marathon and Valero and around 96% year-to-date gains at PBF Energy (NYSE:PBF).


"Lashier's task is to increase the company's value," Matthew Blair, an analyst at Tudor Pickering Holt & Co., said. "He will face inquiries regarding the company's non-refining businesses' value and what he can do to boost stock price performance and capitalize on the potential valuation."

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