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Phillip Securities maintains a "Sell" rating on SpaceX (SPCX.O) with a target price of $75. They remain cautious about high capital expenditures, AI customer concentration, and temporary cloud service contracts, and believe that a more long-term business commitment from customers is needed to drive a valuation revaluation.On August 17, Li Chenggang, Chinas Vice Minister of International Trade and Economic Cooperation, met with Jiang Zhicheng, Global President of Thermo Fisher Scientific. The two sides exchanged views on China-US economic and trade relations and Thermo Fisher Scientifics development in China.On August 17th, Evelyn Gomez, interest rate strategist at Mizuho Securities, noted in a report that fiscal uncertainty in the UK continues to weigh on investors ahead of the October budget announcement. The UK government is expected to announce revenue-boosting measures and spending plans in its budget address on October 28th. Potentially weak UK employment and inflation data this week may support UK government bonds, but fiscal concerns remain.On August 17th, Henlius Biotech (02696.HK) announced a strategic collaboration with Sandoz, a global generic and biosimilar pharmaceutical company, for up to 10 monoclonal antibody and/or antibody-drug conjugate (ADC) biosimilar products or ingredients developed by Henlius. The collaboration also includes terms for the initial selection of three products and an option for one more product. In April 2025, the two companies reached an exclusive commercialization agreement for the ipilimumab biosimilar HLX13 in 46 countries and regions, including Europe and the United States. This new collaboration further deepens their existing cooperation in oncology biosimilars.On August 17th, the US dollar fell to a 10-week low against a basket of currencies as markets lowered their expectations for a US interest rate hike, while US Treasury yields also declined. Recent weak US jobs and retail sales data, along with subdued inflation figures, prompted investors to reduce their bets on rate hikes. However, BankPro CEO Paul Brocardo noted in a report that the dollars decline may be limited if uncertainty surrounding the Middle East situation and the resulting inflation concerns persist. Any escalation of tensions could boost demand for safe-haven assets, thus supporting the dollar while simultaneously pushing up oil prices and yields.

Primark Increases Its Sustainable Cotton Initiative

Haiden Holmes

May 06, 2022 09:39

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Primark, one of Europe's largest fast fashion companies, has committed to training an extra 125,000 smallholder cotton farmers in India, Pakistan, and Bangladesh in more sustainable agricultural practices by the end of 2023.


The group's sustainable cotton program educates farmers on the need of using fewer chemical pesticides and fertilizers and less water, protecting biodiversity and aiding in climate change mitigation. Additionally, the organization claims that it reduces input costs and increases yields and revenues for farmers.


Primark, which is owned by London-listed Associated British Foods (OTC:ASBFY), said on Friday that the pledge would bring the program's total farmer enrollment to over 275,000 by the end of next year.


Primark pledged in September to reduce its environmental impact by increasing the use of recyclable materials, enhancing the durability of garments, and increasing worker salaries.


By 2027, it committed to sourcing 100 percent of the cotton in its clothing from its sustainable cotton program, organic cotton, or recycled cotton. Additionally, it committed to manufacturing all of its goods by 2030 using recycled fibers or more sustainably derived resources.


Primark now makes over 40% of their apparel from recycled fibers or more ecologically produced materials.


Environmental protesters have singled out the fashion sector for its excessive use of water and chemicals, putting pressure on big companies to alter supply chains and address a culture that has resulted in millions of products ending up in waste.


Many environmental protesters are skeptical of brand green commitments, saying they are motivated by a desire for positive public relations and that the business needed a broader cultural shift instead. Primark asserts that its sheer scale enables them to make a difference.


Primark said last month that it will increase certain prices to combat inflationary pressures.