US Launches Its 63rd Airstrike of the Year in Somalia

Gulf Energy Shock Spreads To Global Plastics As War Sparks Force Majeure Wave Building on our earlier "Global Demand Destruction" note, which mapped how the Gulf energy shock is spreading globally and the immediate effects of rationing, price controls, and fuel shortages, another second-order disruption is quickly emerging: supply chain disruptions in critical plastic feedstocks. Plastics are core to the modern economy, and a troubling new Bloomberg report indicates that several producers of monoethylene glycol (MEG) and purified terephthalic acid (PTA) have declared force majeure, as tanker flows through the Strait...

O-I Glass Plunges As Gulf Energy Shock Hits Earnings Outlook Glass bottle and jar company O-I Glass plunged the most in premarket trading in more than six years after it slashed its full-year adjusted EPS outlook, blaming higher energy costs tied to the Gulf-related energy shock. The major glass-container manufacturer, producing bottles and jars for the beer, wine, spirits, beverage, and food-packaging markets, now expects adjusted EPS of $1.00 to $1.50, down sharply from its prior forecast of $1.65 to $1.90 and well below the $1.67 Bloomberg Consensus estimate.  Slide 8 detailed...

Leftist Activists Build Illegal "Autonomous Zone" Around NJ ICE Facility They keep doing it because the consequences are not harsh enough yet, and they enjoy the protection of Democrat politicians and NGO-backed funding.  Without support from the Democrat Party and global non-profits, the Anti-ICE movement would not exist.  In other words, they're astroturf.  Of course, that doesn't stop them from causing all kinds of trouble. Federal agents moved within the past 48 hours to break down a make-shift "autonomous zone" built by leftist activists around the New Jersey Delaney Hall ICE...