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☆ How the Red Sea crisis could clobber the global economy
▼ + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.

Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, ”, ” It’s, Abercrombie &, Nathan Howard, “, ” Philip Damas, —, Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, ”, China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey

☆ Trea Turner breaks out as Phillies rally past Royals
▼ + stars: | 2023-08-06 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/41] Aug 5, 2023; Philadelphia, Pennsylvania, USA; Philadelphia Phillies Brandon Marsh greets fans on meet the players day at Citizens Bank Park before a game against the Kansas City Royals. The Phillies struck in the first against Royals starter Alec Marsh when Alec Bohm connected for a two-run homer into the left field seats for a 2-0 lead. The Royals' Freddy Fermin led off the second with his seventh homer of the year, a solo shot off Phillies starter Cristopher Sanchez. Samad Taylor led off with a triple that saw Phillies center fielder Brandon Marsh crash face-first into the wall. Bryce Harper ripped a two-run homer to cut the Phillies' deficit to 6-5 in the fifth.

Persons: Philadelphia Phillies Brandon Marsh, Bill Streicher, Trea Turner, Turner, Angel Zerpa, Alec Marsh, Alec Bohm, Freddy Fermin, Cristopher Sanchez, Bryson Stott's, Fermin, Samad Taylor, Brandon Marsh, Marsh, Taylor, Dairon Blanco, Maikel Garcia, Bobby Witt Jr, Garcia, Realmuto's, Bryce Harper, Matt Strahm, Craig Kimbrel, Matt Quatraro, Blanco, Ben May Organizations: Philadelphia Phillies, Citizens Bank, Kansas City Royals, Phillies, National League, Royals, Philadelphia, Thomson Locations: Philadelphia , Pennsylvania, USA, Philadelphia, J.T

☆ This number shows that high inflation is sticking around
▼ + stars: | 2023-02-17 | by ( Julia Horowitz | ) edition.cnn.com time to read: +5 min

London CNN —The latest inflation figures from the United States, the United Kingdom and the European Union are feeding hopes that the worst is over and some relief for struggling households could arrive soon. Annual inflation in the United States slowed to 6.4% in January, easing for the seventh consecutive month. In the United Kingdom, which faces weaker economic prospects than its peers, the rate of price increases is also falling: In January, annual inflation dipped to 10.1% from a recent high of 11.1% this past fall. “The bottom line is inflation is still a problem,” said Torsten Slok, chief economist at Apollo Global Management. In the United States, the Federal Reserve Bank of Atlanta publishes a version of the Consumer Price Index that tracks “sticky” prices.

☆ China's reopening could boost global growth — and worsen inflation
▼ + stars: | 2023-01-27 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —China’s swift reopening after nearly three years of strict coronavirus controls could provide a much-needed boost to global economic growth, but may also stoke inflation just as it has shown signs of falling back. The revival of the world’s second largest economy — and its biggest consumer of commodities — threatens to push up global prices for fuel, industrial metals and food this year. The speed of the reopening, as well as indications that infections may have already peaked, has been surprising, analysts told CNN. Yet, if global food and energy prices start rising again, that could feed through into higher consumer prices. China’s reopening could bump up demand for agricultural goods, while the world is still in the grips of the worst food crisis in modern history.

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