Lower Gas Prices to Spur Record July Fourth Road Trips, AAA Says
A record number of US drivers are expected to hit the road for the July Fourth holiday period starting next weekend, helped by the cheapest gasoline in four years.
About 61.6 million people will travel by car from June 28 to July 6, a 2.2% increase from last year, the American Automobile Association said. The group's travel outlook was compiled before the recent escalation in the Israel-Iran conflict, which has boosted oil prices and threatened to raise US fuel costs.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
16 minutes ago
- Yahoo
Wolfspeed nears bankruptcy deal with lenders including Apollo, Bloomberg News reports
(Reuters) -Wolfspeed will be taken over by creditors including Apollo Global Management under a proposal that would put the struggling chipmaker into bankruptcy, Bloomberg News reported on Wednesday, citing people familiar with the plan. The company will soon announce a deal for a so-called prepackaged bankruptcy, that would be long enough to slash billions in debt, the report said. After a restructuring support agreement is signed, Wolfspeed will ask creditors to vote on the plan and then file for Chapter 11 bankruptcy protection. Shares of Wolfspeed, which makes chips using silicon carbide — a more energy-efficient material than traditional silicon, rose about 3% to $1.29 on Wednesday. The stock had fallen about 81% so far this year. Wolfspeed and Apollo did not immediately respond to Reuters requests for comment. The chipmaker raised going-concern doubts earlier in May, as deepening economic uncertainty stemming from changing U.S. trade policies, combined with weakening demand, triggered a series of financial challenges for the company. As of March, the company had about $1.33 billion in unrestricted cash, cash equivalents and short-term investments, and about $6.5 billion of debt obligations, it said in a regulatory filing in May. In a prepackaged bankruptcy, companies and their creditors agree on a reorganization plan prior to the bankruptcy filing and creditors even vote on the plan. Shareholders could recover as much as 5% in the proposed scenario, the report said. In a typical bankruptcy, shareholders are usually wiped out because creditors must be paid first, and there often is not enough value left for equity holders. In 2023, Wolfspeed announced $1.25 billion in debt financing led by Apollo, with the option to increase the total to as much as $2 billion to support the company's U.S. expansion plans.
Yahoo
16 minutes ago
- Yahoo
On Juneteenth, Trump says the US has 'too many' holidays
Trump criticized the number of American holidays and claimed they cost billions in productivity. The post was made on Juneteenth, a federal holiday that Trump previously supported. Joe Biden later said making it a federal holiday was "one of the proudest moments of my presidency." Joe Biden has reiterated his support for Juneteenth as a federal holiday, after Donald Trump said America has "too many" of them. "Too many non-working holidays in America," Trump wrote on Truth Social late Thursday. "It is costing our Country $BILLIONS OF DOLLARS to keep all of these businesses closed." The president said that the frequency of holidays "must change" and that workers didn't want them, either. "The workers don't want it either!" he continued. "Soon we'll end up having a holiday for every once working day of the year. It must change if we are going to, MAKE AMERICA GREAT AGAIN!" Juneteenth, held on June 19 every year, commemorates the end of slavery in the United States and has long been celebrated by Black Americans. It became the 11th federal holiday in 2021 with a law signed by then-President Joe Biden. The bill passed with broad bipartisan support, receiving unanimous approval in the Senate and all but 14 votes in the House of Representatives. Biden later posted on X that he had celebrated the day in Texas and that making Juneteenth a federal holiday was "one of the proudest moments of my presidency." "It's a day of liberation. It's a day of remembrance. And it's a day of celebration. Today, it was an honor to be in Galveston where freedom rang out 160 years ago," he said. The White House press office didn't immediately respond to Business a request for comment from Business Insider regarding Trump's Truth Social post. Most federal offices, such as the US Postal Service, are closed during Juneteenth. Markets like the Nasdaq and New York Stock Exchange don't trade during the holiday, either. But whether private companies and state governments remain open varies. Most major banks are closed for the holiday, but not all companies provide paid time off. Earlier on Thursday, White House press secretary Karoline Leavitt said at a press briefing that the White House was open. When asked by a journalist about commemorating Juneteenth, she said she was "not tracking" Trump's signature on any proclamations for the holiday. "I know this is a federal holiday," she said. "I want to thank all of you for showing up to work. We are certainly here. We're working 24/7 right now." Trump himself supported making Juneteenth a federal holiday in the wake of widespread protests following the killing of George Floyd. "Make Juneteenth a National Holiday" was included among his "Promise to Black America over 4 years" policy proposals in his 2020 presidential campaign. During that campaign, Trump took credit for publicizing Juneteenth after moving one of his rallies from June 19 to June 20 in Tulsa, Oklahoma. "I did something good: I made Juneteenth very famous," Trump told The Wall Street Journal at the time. "It's actually an important event, an important time. But nobody had ever heard of it." In the same interview, Trump expressed surprise that his administration had commemorated Juneteenth every year. "Oh really? We put out a statement? The Trump White House put out a statement?" he said, according to the Journal. "OK, OK. Good." The White House did not publish a statement on its website commemorating Juneteenth this year. Read the original article on Business Insider
Yahoo
18 minutes ago
- Yahoo
Industrial Cleaning Solvents Market worth $1.55 billion by 2030 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., June 20, 2025 /PRNewswire/ -- The report "Industrial Cleaning Solvents Market by Application (General & Medical Device Cleaning, Metal Cleaners, Disinfectants), End-use Industry (Manufacturing and Commercial Offices, Healthcare, Retail & Food Service), and Region - Global Forecast to 2030", industrial cleaning solvents market size was estimated at USD 1.19 billion in 2024 and is projected to reach USD 1.55 billion by 2030, at a CAGR of 4.55% between 2025 and 2030. Browse in-depth TOC on "Industrial Cleaning Solvents Market"280 – Tables60 – Figures250 – Pages Download PDF Brochure: The industrial cleaning solvents market is undergoing a significant transformation, shifting from traditional formulations to more environmentally sustainable and low-VOC (volatile organic compound) options. Driven by the ongoing push for stricter environmental regulations and increasing corporate sustainability initiatives, manufacturers are transitioning from harsh chemical-based solvents to biodegradable, non-toxic solutions. This trend is particularly pronounced in industries such as hospitality, retail, and food service, where both workers and customers are frequently exposed to cleaning agents. Today's eco-conscious consumers, along with state and federal regulatory agencies, demand safer, greener products, fostering innovation in solvent formulations that safeguard indoor air quality, worker health, and the environment while still providing comparable cleaning power and operational efficiency performance. The disinfectants segment is projected to be the fastest-growing segment in terms of value in the global industrial cleaning solvents market during the forecast period. The disinfectants segment is projected to be the fastest-growing segment of the global industrial cleaning solvents market, in terms of value, during the forecast period. Since the pandemic, more attention has been given to sanitizing factories, warehouses, and processing units. Solvents of disinfectant grade are used to eliminate pathogens on surfaces, tools, and high-contact areas, making it less likely for people to spread illness. Regular disinfection has become part of the schedule in most industries that manage shared spaces. These disinfectants are preferred because they dry quickly and combat many types of germs, allowing work processes to continue without interruption. As a result of the pandemic, the demand for reliable and rapid-response industrial disinfectant solvents is increasing in various industries. Request Sample Pages: The healthcare industry accounted for the second-largest share of the industrial cleaning solvents market, in terms of value, in 2024. The healthcare industry accounted for the second-largest share of the global industrial cleaning solvents market, in terms of value, in 2024. It is also projected to be the fastest-growing industry during the forecast period. The rapid progress in healthcare across Asia, Africa, and South America is driving an increased demand for industrial cleaning solvents. Hospitals, diagnostic centers, and specialty clinics are being established to accommodate the growing number of patients. These facilities require efficient cleaning systems that adhere to international hygiene standards. As healthcare investments rise, the demand for professional-grade cleaning solvents also grows, supporting the expansion of the market. Europe was the third-largest region in the global industrial cleaning solvents market, in terms of value, in 2024. Europe was the third-largest region of the global industrial cleaning solvents market, in terms of value, in 2024. The robust automotive industry in Germany, France, and Italy drives greater use of industrial cleaning solvents in Europe. These solvents are utilized to maintain machines, clean auto components, degrease parts, and prepare surfaces for coating and painting. As electric vehicle production increases in Europe, the standards for component cleaning are being enhanced. The adoption of automated and robotic systems on the assembly lines boosts the use of high-performing and specialized solvents for precision cleaning in the region. Request Customization: The key players profiled in the report include Exxon Mobil Corporation (US), Shell plc (UK), BASF SE (Germany), Dow Inc. (US), LyondellBasell Industries N.V. (US), Eastman Chemical Company (US), Arkema (France), Celanese Corporation (US), Solvay S.A. (Belgium), Ashland Inc. (US), and Honeywell International Inc. (US). Get access to the latest updates on Industrial Cleaning Solvents Companies and Industrial Cleaning Solvents Market Size Browse Adjacent Market: Specialty Chemicals Market Research Reports & Consulting Related Reports: Solvents Market - Global Forecast to 2029 Industrial Cleaning Chemicals Market - Global Forecast to 2028 Industrial Rubber Market - Global Forecast to 2030 Plate & Frame Heat Exchanger Market - Global Forecast to 2030 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content: SOURCE MarketsandMarkets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
