Rail Merger Threatens US Chemical Supply Chain Council Warns

Rail Merger Threatens US Chemical Supply Chain Council Warns

American Chemistry Council (ACC) President Chris Jahn expressed concerns regarding the proposed merger of Union Pacific and Norfolk Southern, fearing it could harm manufacturing supply chains, leading to service degradation and increased costs. The ACC will actively advocate, urging policymakers to address the risks, safeguard the competitiveness of U.S. manufacturing, and oppose the railroad consolidation. The ACC also supports promoting reciprocal switching. The ACC believes this merger could negatively impact the chemical industry and the broader manufacturing sector, and is committed to ensuring a reliable and affordable rail network.

Hui Lung Holdings Announces Capital Restructuring and Share Sale

Hui Lung Holdings Announces Capital Restructuring and Share Sale

Huajun Holdings (08021.HK) plans to implement an equity restructuring, including share consolidation, capital reduction, share subdivision, and reduction of share premium account, which is expected to generate a surplus of approximately HKD 700 million to cover losses. Following the restructuring, the company plans to conduct a rights issue at a price of HKD 0.24 per share, raising up to approximately HKD 86.2 million to repay borrowings and replenish working capital. This move aims to optimize the capital structure, improve the financial situation, and lay the foundation for future development.