The Pittsburgh-based producer said demand has dropped across most of its markets amid persistent supply-chain problems and higher costs for raw materials and energy in Europe.
U.S. factory production rose slightly in August as resilient business investment more than offset a pullback in the output of consumer goods, consistent with steady manufacturing activity.
President Joe Biden signed an executive order laying out a strategy to bolster domestic bio-manufacturing and reduce reliance on China for new medicines, chemicals and other products.
In August Bain was barred from tendering for U.K. government contracts for three years over its “grave professional misconduct” in state corruption in South Africa.
Tata Group is in talks with a Taiwanese supplier to Apple Inc. to establish an electronics manufacturing joint venture in India, seeking to assemble iPhones in the South Asian country.
Almost three quarters of the world’s current food production will face extreme risks from heat stress by 2045, according to a report by risk intelligence company Verisk Maplecroft.
U.S. tech companies that receive federal funding will be barred from building "advanced technology" facilities in China for 10 years, the Biden administration has said.