Dimon's raise stands in contrast to the pay cut that Morgan Stanley's board delivered to its chief executive, James Gorman, reducing his pay by 7% for 2019 as the bank trimmed incentive compensation firm-wide in an effort to reduce expenses. Even so, Gorman is richly compensated, receiving $27 million for 2019. … [Read more...] about JPMorgan board raises CEO Jamie Dimon’s pay to $31.5 million
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The problem with China’s single-use plastic ban: What will replace the plastic?
Even if it has challenges, China’s ban is likely to have some impact on the demand for the fossil fuels that are used in plastic production. The country is now the world’s largest import market for plastic in the world, particularly polyethylene used in plastic bags. “The highest volume plastic in the world is polyethylene plastic, and they’re the major importer of this,” says Joseph Chang, global editor for the chemicals business at ICIS, an industry publication. Much of that plastic comes from the U.S., where cheap shale gas is used to produce ethylene and plastic pellets that are shipped abroad. In 2018, China imported 6.7 million metric tons of high-density polyethylene (and produced another 7.2 million tons locally). As oil companies ramp up production of plastic, China’s drop in demand may be a signal—along with single-use plastic bans in the European Union and elsewhere—that the industry should be thinking about alternatives. … [Read more...] about The problem with China’s single-use plastic ban: What will replace the plastic?
