The key players in the global smart hospital market include Medtronic PLC., GE Healthcare, Koninklijke Philips N.V., Allengers Groups, Cerner Corporation, Qualcomm Life, Honeywell Life Care Solutions, Mckesson Corporation, Adhere Tech, and Siemens Healthineers.
Pune, India, Feb. 26, 2021 (GLOBE NEWSWIRE) — Market AnalysisMarket Research Future (MRFR) predicts the global smart hospital market to achieve USD 77,299.6 million at a 21.5% CAGR from 2018-2025 (forecast period).
The smart hospital is a hospital where technology and design are combined to improve patient care. In the healthcare sector, the smart hospital is a technological advancement aimed at delivering a wide range of services in order to achieve higher quality health care services and operational efficiency. The technologies used in smart hospitals are AI, active RFID (Radio Frequency Identification), sensors, Wi-Fi, integration platforms, mobile apps, wearables, and many more. Smart hospitals are also designed to minimize pollution and reduce their environmental impact by using eco-friendly flooring, paints, furniture, and furnishings.
The rising need for IoT is likely to fuel market growth. The Internet of Things allows the healthcare industry to incorporate monitoring and management, position tracking, laser scanning, intelligent recognition GPS, and other information sensing equipment to enhance treatment management and facilities.
Additional factors that add to smart hospital market demand include the need for affordable medical services, increased emphasis on developing healthcare solutions, government initiatives to introduce healthcare IT solutions, growing government spending on healthcare systems, increasing number of trained IT experts, and increasing awareness of the benefits of smart hospitals, such as improved disease management, reduced errors, enhanced patient experience, enhanced outcomes of treatment, and reduced cost of treatment, rising prevalence of chronic diseases, growing need for better patient care & accurate and efficient solutions. In addition, the rising need for smart hospitals, the increasing need for affordable solutions in hospitals, the increasing penetration of instruments and connected devices in hospitals, government measures to develop healthcare infrastructure, the adoption of connected appliances, increasing investment in the healthcare sector, and the need for efficient medical services are contributing to the smart hospital market size over the forecast period. However, the high cost of connected devices and systems can act as a market challenge over the forecast period.
COVID-19 Impact on the Global Smart Hospital MarketThe rising prevalence of coronavirus cases has led to an increasing need for continuous patient monitoring using the internet of things and sensors devices for tracking patients, movements, temperatures, and items to cope with the outbreak and to provide treatment for patients that are COVID positive. Organizations are focused on the launch of new applications to develop smart hospitals with artificial intelligence that are expected to fuel smart hospitals’ market growth over the forecast period.
Smart hospitals are better at managing the pandemic compared to non-smart hospitals. Due to the use of technology, they are able to maintain better social distancing. Physicians can collect real-time data without visiting patients at their beds. These hospitals can also tell the total number of available beds compared to hospitals that do not use technology. Social distancing criteria, along with other constraints attributable to the spread of COVID-19, provide additional opportunities to smart hospitals for remote consultations, symptom tracking, and follow-ups.
Based on type, the global smart hospital market has been bifurcated into general services, specialty, super-specialty
Based on application, the global smart hospital market has been bifurcated into remote medicine management, outpatient vigilance, medical assistance, medical connected imaging, and electronic health record and clinic workflow.
Regional AnalysisBy region, the global smart hospital market covers the opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA).
North America to lead the global marketNorth America will be the market leader in the forecast period. The rapid adoption of the latest technology, the introduction of advanced technologies in the healthcare sector, availability of funds, increased spending on healthcare, accessibility of advanced healthcare facilities, growing need for healthcare services such as critical care, intensive care, acute and long-term care, and the accessibility of highly developed hospitals such as multi-specialty and super-specialty hospitals are adding to the global smart hospital market share over the forecast period. In addition, the need for medical equipment such as hospital beds, medical equipment, and other types of support products, supporting government policies to deploy digital health, accessibility of infrastructure with high digital literacy, the involvement of key market players, increased knowledge of connected health care, increased penetration of smartphones and the internet, and the use of health-related apps are also accelerating market growth.
Competitive LandscapeThe smart hospital market is moderately fragmented due to the involvement of key players. These main players have implemented a range of strategies to maintain intense competition and meet increasing consumer needs, such as alliances, acquisitions, high expenditure on research and development activities, mergers, and product launches.
Industry NewsDecember 2020-Fakeeh University Hospital based in Dubai Silicon Oasis is all set to welcome patients. This smart hospital has over 350 beds. The project is approximately 1 million square feet long. Each patient’s room contains tablets that allow patients to interact with their surroundings as well as with medical staff. The patient can check his/her credential with the aid of a hospital app that operates with a technology-based joint control center that provides 24/7 patient follow-up.
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The U.S. securities regulator on Friday suspended trading in the securities of 15 companies because of « questionable trading and social media activity, » the latest in a string of temporary trading halts amid volatile trading in so-called « meme stocks. » The Securities and Exchange Commission acted because none of the companies have filed any information with the regulator for over a year, it said in a statement. This is the regulator’s third and largest wave of suspensions in response to social media activity.
Gold initially tried to rally during the week but then turned around to show weakness again. Yields in America continue to rise, and that is like kryptonite.
Gold markets have broken down below the $1750 level during the trading session on Friday as yields continue to kill the idea of holding gold as of late.
Bots on major social media platforms have been hyping up GameStop Corp and other « meme » stocks, according to an analysis by Massachusetts-based cyber security company PiiQ Media, suggesting organized economic or foreign actors may have played a role in the Reddit-driven trading frenzy. Shares of GameStop soared last month after Reddit users banded together to squeeze hedge funds that had bet against the video game retailer and other companies. Reddit Chief Executive Steve Huffman told Congress this month that bots, artificial or fake accounts with automated content, had not played a « significant role » in GameStop Reddit message traffic.
(Bloomberg) — British Airways parent IAG SA said there are grounds for optimism about air travel this summer, after posting its first annual loss in almost a decade.The airline group reported an operating loss of 7.43 billion euros ($9 billion) in 2020, according to a statement Friday. While Chief Executive Officer Luis Gallego expressed growing confidence that a recovery will take shape, IAG said it can’t provide an outlook for the current year as the coronavirus pandemic continues to batter air travel.Carriers specializing in long-haul routes have suffered the worst of the downturn, with the International Air Transport Association predicting some inter-continental markets could take years to revive. Airlines such as London-based IAG are counting on so-called Covid passports to help spur a quicker rebound as vaccine rollouts accelerate in countries including the U.K.“We have seen a big increase in flight and holiday bookings for the summer following the U.K. government announcement,” Gallego said on a media call. “Vaccination development, international common standards and digital health passes will be key.”Shares of IAG traded 3.1% higher as of 3:16 p.m. in London, taking gains this year to 20% after they lost almost two-thirds of their value in 2020.IAG’s operating loss included exceptional charges of 3 billion euros against plane retirements, restructuring and fuel-hedging measures.The company has had to cut jobs, borrow money and sell stock to stay afloat, with BA particularly hard because of its reliance on a trans-Atlantic market that’s still virtually closed.Comeback PlanThe carrier group had 10.3 billion euros in liquidity at the start of 2021, it said in a presentation. IAG won’t need any additional funding and will be focused on how to capture demand as it returns, Chief Financial Officer Steve Gunning said.“If there is a strong summer, and there is increasing confidence of that, it’s a case of how quickly you can ramp up capacity and introduce additional seats,” Gunning said on the call.While countries work on plans to restore flights, short-haul specialists such as EasyJet Plc are expecting a quicker rebound as the U.K.’s inoculation program helps lift leisure bookings.“A question mark still hangs over when it will be practical for British nationals to take foreign holidays again,” said Jack Winchester, an analyst at Third Bridge Ltd. “This is holding back a dam of pent up demand, and IAG will be desperate to see that unleashed.”Norwegian AirNorwegian Air Shuttle ASA separately reported a full-year loss of 23 billion kroner ($2.7 billion). The carrier said it had recognized impairment losses of 12.8 billion kroner on the terminated aircraft purchase contracts, which drove up the loss. The Scandinavian carrier is restructuring under an examinership process in an Irish court and will offer a detailed plan next week. Bankrupt Norwegian Air Near Deal to End Airbus Jet DeliveriesNorwegian Air has said it plans to raise new funding in late March or early April, and focus on regional flights with smaller aircraft. The carrier has turned away from the low-cost, long-haul business that put price pressure on major carriers like British Airways, which counds on North America for about 30% of its capacity.IAG attempted to purchase Norwegian Air in 2018 but dropped the plan after its bids were rejected and losses mounted at the smaller company.(Updates with details of Norwegian impairment on jet purchase cancellation in 12th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The British pound has fallen on Friday to slice through the 1.40 level. This correction has been long overdue and quite frankly is welcomed.
(Bloomberg) — EG Group, the gas-station operator owned by the British Issa brothers, is planning to sell 675 million pounds ($956 million) of privately placed bonds to help fund an acquisition spree after an auditing delay by KPMG LLP derailed the prospect of tapping the public market.EG Group plans to issue five-year senior-secured bonds in its first privately placed transaction, which are expected to price with a coupon of around 6.25%, according to people familiar with the matter. The deal will help fund a turbocharged expansion by the company, which owns the U.K. supermarket chain Asda Group Ltd., and forms part of a $1.8 billion debt package to finance the purchase of Asda’s gas stations as well as those owned by OMV in Germany.Representatives for EG Group and KPMG declined to comment when contacted by Bloomberg News.The company owned by Zuber and Mohsin Issa has fueled its expansion at break-neck speed in the debt markets since 2017. Earlier this week, EG Group told investors it needs more time to finish its audit results because KPMG — which replaced Deloitte & Touche LLP as the firm’s accountants in October — faced delays in assessing the scale of its business.Companies typically need to publish a prospectus with audited statements when they sell listed bonds to investors, meaning that the KPMG delay led the company to opt for the private route.With a coupon of 6.25%, the bond is offering investors a premium for the paper being less liquid than a publicly listed bond. EG Group’s existing bonds denominated in euros and U.S dollars are currently bid at yields ranging from 4.3% to 5.2%, according to data compiled by Bloomberg.Strong investor appetite for the new sterling bond meant that the borrower was able to increase the size of the offering by more than a 100 million pounds, according to some of the people.The deadline for EG Group’s audit is the end of September, people familiar with the matter said. Until the audit is completed, any plans to lower debt costs by issuing publicly syndicated bond deals will likely be hindered. Private offerings are more expensive for borrowers to sell because investors can only typically hold a small amount of illiquid assets in their portfolios.EG Group was bought by the Issas in 2001 and is now part-owned by sponsor TDR Capital. The brothers and TDR Capital are also said to be in talks to buy more than half of coffee chain Caffe Nero’s 350 million pounds of loans, the Telegraph reported earlier this week.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
U.S. consumer spending increased by the most in seven months in January as the government doled out more pandemic relief money to low-income households and new COVID-19 infections dropped, positioning the economy for faster growth in the first quarter. Despite the strong rebound in consumer spending reported by the Commerce Department on Friday, price pressures were muted. Inflation is being closely watched amid concerns from some quarters that President Joe Biden’s proposed $1.9 trillion COVID-19 recovery package could cause the economy to overheat.
‘I so rarely hold a company like BYD that goes to a nosebleed price, but I don’t think I’ve got a system yet. And so I’m just learning as I go along.’
The $20 trillion Treasury bond market is getting jittery. The question is what is the Federal Reserve going to do about it? The US Treasury’s auctions of five- and seven-year securities were poorly received by investors.
(Bloomberg) — Remember the days when a selloff in Treasuries was considered a sign of positive news?No longer. The U.S. 10-year yield jumped by the most in 11 months on Thursday, while the Swiss franc and yen were among the worst-performing Group-of-10 currencies for the week and gold slumped for a fourth day. All havens, right? But these moves were seen as a signal of fear in markets.The upending of conventional wisdom is a result of the current environment of record monetary accommodation. Investors are becoming concerned that economic-recovery signs will spur the Federal Reserve and other major peers to withdraw stimulus, turning off the spigots that have fueled the rally in financial markets since the middle of last year. In other words, if the economy looks “too good,” it’s bad news for risk assets.“The Fed leadership holds some responsibility for this,” according to Evercore ISI strategist Krishna Guha and economist Ernie Tedeschi. “The absence of any indication of concern or — more appropriately in our view — central bankerly carefulness around the move in yields from Williams, Powell, Clarida and Brainard in recent days has been read in markets as a green light to ramp real yields higher.”A key source of concern is not simply the direction of the yield moves — but the speed. While real yields are still low by historical standards they have been moving fast, creating a sense of disorder, Guha and Tedeschi wrote in a note.‘Rapid Advance’”The problem is the pace,” said Min Gyeong-won, an economist at Woori Bank in Seoul. “Normally a rally in yields would mean risk-off, but this time the rapid advance combined with the lack of confidence in the Federal Reserve to hold that off has spurred risk appetite, causing a massive blow to Asian emerging currencies.”The absence of any response from Fed officials, at least until now, is adding to investor unease.“So far there has been very little push back from the Fed in terms of rising yields because the Fed thinks that rising yields are a reflection of the better outlook,” said Sim Moh Siong, a currency strategist at Bank of Singapore Ltd. “We could be at a tipping point where the rise in yields could become more problematic for the broader market.”Haven or risk asset, safe or not, investors may need to be prepared for more turbulence ahead.“This is a potentially painful reassessment of that long positioning that has been sparked by the rise in government bond yields, which is creating a self-perpetuating negative feedback loop,” said Jeffrey Halley, a senior market analyst at Oanda Asia Pacific Pte in Singapore. “Or as I call it, a welcome return to two-way price action.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) — The world’s largest Bitcoin fund is selling off faster than the cryptocurrency itself as investors rush to the exits.The $31.6 billion Grayscale Bitcoin Trust (ticker GBTC) plunged 22% this week, outpacing a 17% decline in the world’s largest cryptocurrency. That’s evaporated GBTC’s once-massive premium to the Bitcoin it holds, with the price of GBTC closing 3.8% below the value of its underlying holdings on Thursday — a record discount, according to data compiled by Bloomberg.It’s an unusual situation for GBTC, which has persistently traded at a premium to its net asset value since the fund’s launch in 2013. That figure soared to 40% in late 2020, with investors willing to pay a markup for exposure to Bitcoin‘s dizzying rally. That avalanche of inflows swelled the number of GBTC shares outstanding to a record 692 million. However, GBTC doesn’t allow redemptions — meaning that shares can only be created, but not destroyed. With Bitcoin’s climb now stalling, that’s created a supply and demand imbalance as participants in the trust seek to find buyers in the secondary market.“It’s more indicative of the fact that there are so many shares are available, and it indicates demand for Bitcoin at these prices is falling off,” said Bloomberg Intelligence analyst James Seyffart.Bitcoin surged to a record of over $58,000 last weekend, but has stumbled since. The cryptocurrency slipped another 0.2% on Friday, on track for its worst weekly pullback in a year. The wider Bloomberg Galaxy Crypto Index, tracking Bitcoin, Ether and three other cryptocurrencies, is down 19.7% this week.Bitcoin’s lurch lower is part of a broader risk asset stumble, as spiking Treasury yields rattle the market’s more speculative fringes. High-flying tech stocks have been hammered as investors reassess lofty valuations, with the Nasdaq 100 on track for its worst week since March.Among those hit the hardest is Cathie Wood’s lineup of Ark Investment Management ETFs. The flagship ARK Innovation ETF is on track for a fifth consecutive day of declines, and is poised to erase its year-to-date gains after a nearly 150% surge in 2020. Ark Investment is the fourth-largest holder in GBTC.Michael Sonnenshein, chief executive officer of Grayscale Investments, acknowledged the risk of GBTC’s premium disappearing while speaking in a panel for the Bloomberg Crypto Summit on Thursday.“It’s certainly a risk, no question about it, but ultimately price discovery in GBTC every day is driven entirely by market forces,” Sonnenshein said.A host of new entrants could also be challenging GBTC’s command of the competitive landscape. The Bitwise 10 Crypto Index Fund, the Osprey Bitcoin Trust and the SkyBridge Bitcoin Fund LP have all launched within the past three months. Meanwhile, two Bitcoin ETFs — a structure yet to be approved by U.S. regulators — began trading this month in Canada.“Since the beginning of the year, we’ve seen the launch of multiple competing products,” said Nate Geraci, president of the ETF Store, an advisory firm. “The unpleasant truth for GBTC investors is that competition erodes demand for the product, which can lead to a collapsing premium or even a discount.”(Updates prices throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Curbside Pickup Shines as the “Most Helpful New Thing,” While Over 64% Of People Planning on getting the Vaccine Will Eliminate Travel Through the End of the Year
(Bloomberg) — As pot stocks surged this year amid nationwide legalization hopes, a relatively obscure group of biotechnology companies have echoed their moves.Drugmakers that target the endocannabinoid system — which is believed to play a key role in regulating body weight and controlling energy balance — have skyrocketed in 2021. While those biotechs wouldn’t necessarily benefit from any legislative push for the pot industry, analysts say the stocks have jumped on the idea that they would be associated somehow with cannabis. And they are not.Take Corbus Pharmaceuticals Holdings Inc., for example. The Norwood, Massachusetts-based company that develops drugs to treat inflammatory and fibrotic diseases has almost doubled this year. That huge rally compares with an advance of less than 2% for the S&P 500 Index. Similar developers such as Artelo Biosciences Inc. and Zynerba Pharmaceuticals Inc. have enjoyed gains of 167% and 35%, respectively.Such meteoric ascent has also been reflected in cannabis companies like Sundial Growers Inc. and Tilray Inc., which have almost tripled in 2021. Meanwhile, a proxy for the pot industry, the $1.9 billion ETFMG Alternative Harvest ETF (MJ), has jumped 59% in the span.“It’s kind of a co-mingling of two different worlds,” said Leland Gershell, an analyst at Oppenheimer & Co. in New York. The fact that cannabis is growing in terms of its acceptance “is making the market more supportive of any company that has that in its name,” he added.For Jason McCarthy, an analyst at Maxim Group in New York, the excitement around the legalization of cannabis has created a “follow-on effect,” drawing investor interest to companies working in the endocannabinoid space.Other analysts cite the fact that biotechs have benefited from retail-investor attention this year. Fueled by money pouring in from individual traders on low-cost platforms such as Robinhood and booming initial public offerings, those stocks have increasingly become disconnected from traditional fundamentals, Evercore ISI’s Josh Schimmer wrote in a recent note to clients.While Gregory Gorgas, Artelo’s chief executive officer, clarifies that “our product candidates are not derived from cannabis,” some analysts see those biotechs still enjoying the rally in pot shares.For the foreseeable future, those stocks are “probably going to be grouped along with the consumer cannabis companies,” Gershell said.(Updates prices.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The German maker of what’s affectionately deemed the original ugly sandal has a luxurious new owner.
Oil and gas producer EOG Resources Inc on Thursday boosted its annual dividend by 10% after its fourth-quarter adjusted profit came in well above expectations, helped by cost cuts and a recent recovery in commodity prices. Despite the higher commodity prices, EOG forecast its crude oil output this year between 434,000 barrels per day (bpd) and 446,000 bpd, about flat compared to the fourth-quarter rate of 444,800 bpd. EOG’s forecast of keeping production flat matches rivals like Diamondback Energy Inc and Occidental Petroleum Corp and highlights a recurring theme in shale that calls for prioritizing balance sheet cleanups above output growth.
(Bloomberg) — As hordes of day traders show their force in markets once again, a triple-leveraged exchange-traded fund that tracks the Nasdaq 100 is on pace for its best week of inflows on record.The $11 billion ProShares UltraPro QQQ ETF (TQQQ) has attracted almost $800 million of fresh cash in the span, according to data compiled by Bloomberg. The fund has lured substantial inflows despite a price drop of more than 6% amid a selloff in large technology companies. It fell again on Thursday, joining broader equity-market losses.The high-flying tech names that have led the bull market in stocks from pandemic lows have faced ongoing turmoil as Treasury yields climb and high valuations become increasingly unpalatable. In the meantime, expectations for broader economic reopenings are breathing life into the long-neglected value shares — putting the Russell 2000 Index of small caps on track to beat the Nasdaq 100 for a sixth straight month.“When you’re investing into anything that’s triple leveraged, that’s absolutely a speculative tool,” said Chris Gaffney, president of world markets at TIAA Bank. Is it investing or gambling? That’s the line you start walking down.”TQQQ is a favorite among retail investors who re-emerged late Wednesday, sending Reddit-favorite stocks soaring. The ETF is currently listed as the security with the 14th highest volume of orders on Fidelity’s website.“You still have very solidly positive sentiment on the part of individual investors,” said Brian Nick, chief investment strategist at Nuveen, the investment arm of retirement-savings giant TIAA. “As long as retail investors remain bullish, you could continue to see volatility in some of these popular names.”(Updates prices.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) — State Street’s $786 million exchange-traded fund investing in retailers was only just recovering from its last brush with GameStop Corp. Now it’s all happening again.The SPDR S&P Retail ETF (ticker XRT) is being distorted by the bricks-and-mortar seller of video games for a second time, just a few weeks after losing 80% of its assets in January’s meme-stock drama.GameStop is on another tear, surging roughly 50% on Thursday after a 104% gain the previous day. That’s a problem for XRT because it’s supposed to hold an equal amount of each stock, but it doesn’t rebalance swiftly enough to counter GameStop’s jump.The company now makes up about 5.9% of the fund. It should be more like 1%.Last time around, GameStop’s weighting eventually ballooned to 20% of XRT, prompting an exodus from the fund. It took about three weeks for assets to recover — they hit the highest level since 2018 on Tuesday, just before the latest bout of meme-stock madness.With GameStop’s sudden revival, there could be more pain ahead of the passive fund’s March rebalance, according to CFRA Research’s Todd Rosenbluth.“Investors in XRT have seen this movie before, with GameStop quickly dominating the normally equally weighted portfolio before falling sharply,” said Rosenbluth, CFRA’s director of ETF research. “With no limits on position sizes and the rebalance nearly a month away, the risk is high that the stock will drive performance up and down. Some may not want to stick around to see if the sequel is any better.”Of course, GameStop’s rally in January was on a different scale — it soared 1,600%, powering XRT to monthly gains of about 37%. That was a record for the normally staid ETF. But when the retailer plunged, the ETF was hit, and XRT remains around 5% lower in February despite a boost from GameStop this week.Such whiplash may dim XRT’s appeal as a portfolio hedging tool, according to Citigroup Inc.’s Scott Chronert.“When you have a stock-specific circumstance like this one, it might mess up how the hedging aspect is working,” Chronert said in an interview earlier this month. “If you’re looking to hedge a long book of retail or consumer names, the weighting impact on the broader sector ETF might not be a very good hedge because it’s dominated by a single name.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
A medical graduate who had about $440,000 in student debt saw 98% of his loans cancelled by a bankruptcy court in California, according to a recent filing.
(Bloomberg) — Mondi Plc, the packaging and paper group, is exploring a potential takeover of British rival DS Smith Plc, according to people familiar with the matter.Mondi has been speaking with advisers as it considers the merits of a possible transaction, the people said, asking not to be identified because the discussions are private. DS Smith shares rose as much as 14% in London trading, boosting its market value to more than 5.7 billion pounds ($8.1 billion).A deal between the two companies would be one of the largest announced in the U.K. so far this year, data compiled by Bloomberg show. Deliberations are at an early stage, and there’s no certainty they will lead to a transaction, the people said.Representatives for Mondi and DS Smith declined to comment. Mondi shares rose as much as 0.7%.While a pandemic-fueled boom in online shopping has provided a demand boost for packaging companies, it has also led to piles of used cardboard that can’t be picked up and recycled quickly enough. That has pushed up costs for companies including DS Smith, which rely on recycled containerboard to make their boxes.(Updates with share move in the second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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