DIRS.INFO The most relevant business & tech news

☆ As crews work to lift first piece of Baltimore bridge debris, officials eye a temporary channel around the collapse site
▼ + stars: | 2024-03-31 | by ( Dalia Faheid | ) edition.cnn.com time to read: +6 min

CNN —Crews are working to remove the first portion of Baltimore bridge wreckage – the starting point in a complicated, extensive cleanup process that could help open up a temporary channel to get more vessels into the water around the collapse site, officials said. In the meantime, conditions in the water make it unsafe for divers as pieces of the bridge remain submerged in the water. The port “handles more cars and more farm equipment more than any other port inside this country,” the governor said. Plus, “at least 8,000 workers on the docks have jobs that have been directly affected” by the collapse. In order to reopen the port, the Coast Guard says it will first clear debris from the deep draft channel, remove the ship, then clear debris from the bridge across the waterway.

Persons: CNN — Crews, Wes Moore, It’s, Francis Scott Key, Baltimore Mayor Brandon Scott, Moore, ” Moore, Shannon Gilreath, you’ve, ”, it’s, ” Gilreath, Al Drago, Roland L, Butler, Mark Martin, ” Martin, Martin, “ Organizations: CNN, ”, ” Maryland Gov, Authorities, Baltimore Mayor, US Coast Guard, Coast Guard, Baltimore Gas and Electric Company, Bloomberg, Getty, SalvOcean Locations: Baltimore, ” Maryland, Maryland, Port of Baltimore, “, Patapsco, Baltimore Harbor

☆ Crews at Site of Bridge Collapse Work on Removing First Piece of Debris
▼ + stars: | 2024-03-30 | by ( Edgar Sandoval | ) www.nytimes.com time to read: +1 min

Crews in Baltimore on Saturday were working on pulling the first piece of wreckage out of the water after the collapse of the Francis Scott Key Bridge, a tangible sign of progress in the daunting effort to reopen the busy waterway. Rear Adm. Shannon Gilreath of the U.S. Coast Guard said at a news conference that his crew was aiming to lift the first segment of the bridge “just north of that deep draft shipping channel.” He added, “Much like when you run a marathon, you’ve got to take the first few steps.”The bridge was a critical transportation link to one of the largest ports in the United States, and the collapse is costing the region and the country millions of dollars the longer it is out of operation. More than 8,000 workers on the docks have been directly affected, Gov. Wes Moore of Maryland said. Mr. Moore said cutting up and removing the north sections of the bridge “will eventually allow us to open up a temporary restricted channel that will help us to get more vessels in the water around the site of the collapse.”

Persons: Crews, Francis Scott Key, Shannon Gilreath, you’ve, Wes Moore, Moore Organizations: U.S . Coast Guard, Gov Locations: Baltimore, United States, Maryland

☆ Baltimore engineers begin clearing bridge wreckage to reopen channel
▼ + stars: | 2024-03-30 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

The cargo ship Dali sits in the water after running into and collapsing the Francis Scott Key Bridge on March 26, 2024 in Baltimore, Maryland. Engineers in Maryland on Saturday began lifting a piece of Francis Scott Key Bridge out of the waterway in Baltimore, the first step in a long process to reopen the city's shipping port. "I cannot stress enough how important today and the first movement of this bridge and the wreckage is," said Gov. To execute the first lift of the bridge on Saturday, engineers cut a piece of the bridge to make it manageable for their crane. "Our economy depends on the Port of Baltimore and the Port of Baltimore depends on vessel traffic."

Persons: Dali, Francis Scott Key, Wes Moore, Baltimore Mayor Brandon Scott, Joe Biden, we've, Shannon Gilreath, Moore Organizations: Francis Scott Key Bridge, Baltimore , Maryland . Engineers, U.S . Coast Guard, Baltimore Mayor, Government, Coast Guard, Port Locations: Baltimore , Maryland, Maryland, Baltimore, Port of Baltimore, U.S

The Chesapeake 1000 – the largest crane on the East Coast – is needed in the Patapsco River where a 984-foot cargo vessel slammed into the bridge Tuesday. Live updates: The latest on the Baltimore bridge collapseIn addition to the crane, three heavy lift vessels are expected to start arriving Friday, US Transportation Secretary Pete Buttigieg told CNN. This appraisal is critical in determining how small to cut the bridge pieces so cranes can lift them, he said. In addition to the human toll, the destruction of the Key Bridge and closure of the Port of Baltimore could lead to widespread economic fallout. In this NTSB handout, an investigator examines the collapsed Francis Scott Key Bridge from the cargo vessel Dali on March 27 in Baltimore.

Persons: Francis Scott Key, Pete Buttigieg, Wes Moore, Julia Nikhinson, ” Moore, Shannon Gilreath, Moore, Maryland Sen, Chris Van Hollen, Buttigieg, “, Jennifer Homendy, Homendy, Marcel Muise, Dali, Peter Knudson, CNN’s Justin Lear, Andy Rose, Sarah Dewberry, Chris Isidore, David Goldman, Greg Wallace, Elise Hammond, Tori B, Powell, Sania Farooqui, Chris Boyette Organizations: CNN, Maryland Gov, Authorities, US Coast Guard, National Transportation Safety, Army Corps, Maryland Department of Labor, National Transportation, NTSB, India’s Ministry, External Affairs Locations: Patapsco, Baltimore, Maryland, Port, Port of Baltimore, America, New York, New Jersey, Vedika Sud

☆ Cargo ship had engine maintenance in port before it collided with Baltimore bridge, officials say
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: +8 min

The others were presumed dead, and officials said search efforts had been exhausted. Investigators on Wednesday began collecting evidence from the vessel that struck the Francis Scott Key Bridge the previous day. U.S. Coast Guard Rear Admiral Shannon Gilreath said authorities had been informed that the ship was going to undergo the maintenance. "We were informed that they were going to conduct routine engine maintenance on it while it was in port. Video showed the ship moving at what Maryland's governor said was about 9 mph (15 kph) toward the 1.6-mile (2.6-kilometer) bridge.

Persons: Francis Scott Key, Roland L, Butler Jr, Alejandro Hernandez Fuentes, Dorlian Ronial Castillo Cabrera, Butler, Wes Moore, Shannon Gilreath, Jennifer Homendy, Homendy, Moore, Watson, Pete Buttigieg, Biden, Buttigieg, Gilreath Organizations: Fire, Bloomberg, Getty, U.S . Coast Guard, Maryland State Police, Maryland Gov, . Coast Guard, National Transportation Safety Board, Coast Guard, Homeland Security, Associated Press, Synergy Marine Group, Grace Ocean Private Ltd, White House, Transportation, World Association, Transport Infrastructure Locations: Baltimore, Dali, Patapsco, Baltimore , Maryland, U.S, Maryland, Mexico, Guatemala, Dundalk , Maryland, Honduras, El Salvador, Sri Lanka, Singapore, Port, Germany, Japan, United Kingdom, Windward, Annapolis

☆ 6 people missing in the Baltimore bridge collapse are presumed dead, and the Coast Guard says their next job is to try to recover their bodies
▼ + stars: | 2024-03-27 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Six construction workers went missing during the Francis Scott Key Bridge collapse. AdvertisementThe six construction workers who went missing after Baltimore's Francis Scott Key Bridge collapsed are presumed dead, a US Coast Guard official said on Tuesday night. Gilreath told reporters that they were suspending active search-and-rescue efforts on Tuesday at 7:30 p.m., local time. AdvertisementBaltimore's Francis Scott Key Bridge had collapsed on Tuesday morning after it was struck by a Singapore-flagged cargo ship, the Dali. BREAKING: Ship collides with Francis Scott Key Bridge in Baltimore, causing it to collapse pic.twitter.com/OcOrSjOCRn — BNO News (@BNONews) March 26, 2024The Francis Scott Key Bridge is a key node within Baltimore's transportation network.

Persons: Francis Scott Key, —, Baltimore's Francis Scott Key, we've, Shannon Gilreath, Gilreath, Roland L, Butler Jr, Butler, Kevin Cartwright, Dali, Paul Wiedefeld, James Wallace Organizations: Coast Guard, Service, US Coast Guard, Maryland State Police, Baltimore Fire Department, New York Times, BI, Maryland Transportation Locations: Singapore, Dali, Colombo, Sri Lanka, Baltimore, Maryland

☆ Black box recovered from cargo ship that crashed into Baltimore bridge could help uncover what went wrong
▼ + stars: | 2024-03-27 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

A black box has been recovered from the ship that crashed into a Baltimore bridge. The Dali, a Singapore-flagged cargo ship, hit Baltimore's Francis Scott Key Bridge early Tuesday. AdvertisementWhat exactly went wrong to cause the Baltimore bridge collapse this week? Officials on Wednesday recovered the ship's black box data recorder, which could help investigators piece together what caused the crash. The Singapore-flagged Dali cargo ship crashed into the Francis Scott Key Bridge in Baltimore, Maryland, early Tuesday morning, causing it to collapse.

Persons: Dali, Baltimore's Francis Scott Key, —, Jennifer Homendy, Guy Platten —, Francis Scott Key, Wes Moore, James Wallace, Shannon Gilreath Organizations: Baltimore's Francis Scott Key Bridge, Service, Transportation Safety Board, CBS News, International Chamber of Shipping, Bloomberg, Bloomberg Radio, Baltimore, Maritime, Port Authority, Synergy Marine, Baltimore Fire Department, US Coast Guard Locations: Baltimore, Singapore, Baltimore , Maryland, Colombo, Sri Lanka, Maryland, Asia Pacific

watch nowHigh schools have been buzzing about financial education. They earned an "A" because in those states, high school graduates in the class of 2023 were required to have taken a personal finance course before graduation. Studies show personal finance education can make a significant difference in young adults' financial behaviors, from improving credit scores and lowering loan delinquency rates to reducing payday lending and helping students make better decisions about college loans. A few states still have 'virtually no requirements'Meanwhile, four states — California, Connecticut, Massachusetts and South Dakota — as well as Washington, D.C., got failing grades, receiving "F"s in this report because they have "virtually no requirements" for personal finance education in high school. Still, advocates in "failing" states, such as California, are working to change the laws to ensure students are guaranteed financial education.

Persons: Virginia —, John Pelletier, Champlain, " Pelletier Organizations: Center for Financial, Champlain College, Champlain College's Center, Financial, South Dakota —, D.C Locations: Burlington , Vermont, — Alabama, Iowa , Mississippi , Missouri , Tennessee , Utah, Virginia, U.S, — California , Connecticut , Massachusetts, South Dakota, Washington, California

Tom Werner | Digitalvision | Getty ImagesIf you elected not to participate in your company's 401(k) plan, your employer may have other ideas. The concept of 401(k) plan "reenrollment" has been gaining traction. Most companies, about 85%, direct workers' savings into target-date funds if they're automatically enrolled, according to PSCA data. Workers receive a notification from their employer ahead of reenrollments and have the chance to opt out or reduce their contribution. Employers' hope is that inertia will cause workers to stay in the plan rather than opt out.

Persons: Tom Werner, Digitalvision, reenrollments, Sean Deviney, they're Organizations: of America, Workers, Employers Locations: Fort Lauderdale , Florida, reenrollments

Though aerospace and defense funds understandably haven't done well in this year's faltering market, some individual stocks have posted substantial gains. U.S. support in what's turning out to be a long war in Ukraine will likely push overall contractor spending higher, benefitting aerospace and defense companies. In this era of high-tech warfare, when strategic military engagement is more about digital systems and aerial weapons than boots on the ground, aerospace and defense companies are advantageously positioned. Lucrative products include fighter jets, helicopters, parts for them, avionics products, missile guidance system, drones and anti-drone technology and support services. Curtiss-Wright Corp (CW) Projected five-year annual earnings growth: Data was not available.

Persons: Lockheed Martin, Giuseppe Cacace, Northrup Grumman, Howmet's, Wright, Woodward, Gerald R, Ford Organizations: US Air Force, USAF, Lockheed, Maktoum International Airport, Afp, Getty, U.S, Publicly, General Dynamics, TransDigm, Inc, Parsons Corp, U.S . Department of Defense, Missile Defense Agency, State Department, Department of Homeland Security, Department of Energy, Federal Aviation Administration . Products, Aerospace, Curtiss, Wright Corp, CW, N.C . Products, Woodward Inc, Huntington Ingalls Industries, Coast Guard, Ford, Pentagon Locations: Dubai, Al, Maktoum, Ukraine, Israel, Gaza, what's, Virgina, Washington, Davidson, N.C, Fort Collins , Colorado

"We were an early adopter," said Morgan, who served as past president for Tennessee Jump$tart, an independent affiliate of the national Jump$tart Coalition for Personal Financial Literacy, which championed the policy. While financial literacy has long been a priority, the Covid-19 pandemic sparked a wave of state-level legislation nationwide, said Morgan, who also served on the board of the Tennessee Financial Literacy Commission. "The work is never done," said Bill Parker, director of the Tennessee Financial Literacy Commission, which aims to incorporate personal finance into schools "as early as possible." Bill Parker Director of the Tennessee Financial Literacy CommissionThe Commission has outlined priorities in its five-year strategic plan, which has included thought leadership and state-level advocacy for expanded financial literacy programming. Numerous studies have highlighted the benefits of teaching children financial literacy at an early age.

Persons: chris Ryan, Istock, Jackie Morgan, Morgan, We've, there's, Bill Parker, Parker Organizations: Federal Reserve Bank of Atlanta's, Tennessee, Tennessee Financial Literacy, U.S, Finance, Council for Economic Education, Tennessee Financial Literacy Commission, Tennessee Financial Locations: —, Tennessee, Federal Reserve Bank of Atlanta's Nashville, U.S, , Tennessee

Investors like dividend stocks for their yields, but the equities' returns have been pretty dismal so far this year. "That's what is putting pressure on these [dividend] stocks, or maybe just keeping them from lifting." IPDP YTD line Dividend Performers ETF (IPDP) performance year to date When it comes to specific stocks, Gilreath likes two under-the-radar plays: Brady Corporation and ABM Industries . Brady, which manufacturers identification and health-care products, has a 1.7% dividend yield. Diversification in light of recession risk When it comes to dividends, investors should look for quality rather than quantity.

Persons: That's, Bond, Andrew Graham, Dave Sheaff Gilreath, Gilreath, Morningstar . Brady, Capital's Graham, Graham, Dow, Laura Mattia, Morningstar, George Gagliardi, You'd, I'm Organizations: Investment, Jackson, Capital, Federal Reserve, Brady Corporation, ABM Industries, Dow Inc, Dow, LyondellBasell, Shell, Coromandel Wealth Management, U.S Locations: San Francisco, Indianapolis, Sarasota , Florida, Lexington , Massachusetts

Money market funds, on the other hand — while also generally safe — are a bit riskier, experts said. Investors who prefer money market funds may opt for government money market funds, which carry slightly less risk, Elliott said. YieldMoney market funds tend to pay a slightly higher interest rate relative to high-yield savings accounts, Elliott said. TaxesInterest income for both high-yield savings and money funds is taxed as regular income, experts said. However, some money market funds may carry tax benefits, said Eric Bronnenkant, head of tax at Betterment.

Persons: Kamila Elliott, Elliott, Greg McBride, They've, McBride, Treasurys —, Eric Bronnenkant, Bronnenkant Organizations: Wealth Partners, CNBC, Bankrate, Federal Reserve, Deposit Insurance Corporation, Treasury, Lehman, Federal Reserve Bank of Boston, Investor Protection Corporation, Investors, Data, Federal, Consumers, U.S Locations: Atlanta

Now, however, some firms and experts are walking back those predictions, calling into question the validity of a once-trusted recession indicator known as the yield curve inversion. Nobody rational would argue that the yield curve could have predicted a global pandemic and the short recession that followed it. NABE's most recent survey shows economists are divided on what a yield curve inversion means for the U.S. economy. In normal circumstances, yield curve inversions have been a pretty good indicator of recessions, according to Jebaraj. While the yield curve inverted in 2019, that was not necessarily a predictor of the 2020 recession.

Persons: Mervin, NABE, Goldman Sachs, NABE's Jebaraj, Sam, Jebaraj, — Organizations: Westend61, Getty, National Association for Business Economics, Reserve, Wall, Bank of America, JPMorgan, Center for Business, Economic Research, Walton College of Business, University of Arkansas, Treasury, National Association for Business Locations: U.S

Jetcityimage | Istock | Getty ImagesAs inflation falls, investors are weighing whether to buy or sell Series I bonds amid other competitive options for cash. "Cooling inflation means that interest rates are likely near the end of their increases," said certified financial planner Ted Haley, president of Advanced Wealth Management in Portland, Oregon. But in the meantime, many investors are waiting for the Federal Reserve's next interest rate decision later this month, which may affect cash yields. While the yearly rate fell to 4.3% in May 2023, the fixed rate portion climbed to 0.9%, making the asset more attractive for long-term investors. Of course, the next fixed rate for I bonds could be higher or lower.

Persons: Ted Haley, Haley, David Enna, Enna, Ken Tumin, DepositAccounts.com Organizations: Istock, Getty, U.S . Bureau of Labor Statistics, Advanced Wealth Management, Federal Locations: Portland , Oregon

Only a handful of companies are responsible for most of the index's gains thus far, including the likes of Nvidia (NASDAQ: NVDA ), Meta (NASDAQ: META ) and Tesla (NASDAQ: TSLA ). The good news is market breadth improved beginning in late May and leadership has expanded to include cyclical sectors and industries. Still, these firms have become so expensive relative to the broader market that some analysts have recently begun downgrading them. More from Personal Finance:As July 4 motorists kick off summer travel, how to save on gasWhat to know about your rights as an air travelerHow travelers are booking vacations amid inflationOne place to start could be cruise companies: Carnival Cruise Line (NYSE: CCL ), Norwegian Cruise Line (NYSE: NCLH ) and Royal Caribbean International (NYSE: RCL ). Perhaps no other industry took it on the chin as hard during the pandemic, which halted sailings for months.

Organizations: NASDAQ, Nvidia, Meta, Tesla, Finance, NYSE, Cruise Line, Royal Caribbean International

Recessions haven't always resulted in declining stock markets, and good opportunities can be found amid them. Sectors for recession naysayersThe best sectors for recession disbelievers are the most economically sensitive ones: industrials, materials and financials. Well-positioned companies with good growth prospects currently include: Corteva, Dow Chemical, Ecolab, Linde plc, Martin Marietta Materials, Nucor Corp., PPG Industries and Sherwin-Williams. Currently buyable names include: Campbell Soup Co., General Mills, The Hershey Co., Kellogg's, Kimberly-Clark Corp., Kroger, Procter & Gamble and Walmart. Sector names with reasonable risk levels and good growth prospects include: Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc., Veeva Systems Inc., IQVIA Holdings Inc., Cigna Group and Zoetis Inc.

Persons: Sherwin, Williams, Mayur, Martin Marietta, JPMorgan Chase, Rowe Price, Willis Towers Watson, Campbell, General Mills, Clark, Willie B, Thomas, Digitalvision Organizations: Westend61, University of Michigan Consumer, Investors, Westinghouse Air Brake Co, Cummins Inc, CSX, Emerson Electric, Otis Worldwide, Carrier, Caterpillar, Honeywell, Illinois Tool, Lockheed Martin Corp, Dow Chemical, Ecolab, Linde plc, Martin, Martin Marietta Materials, Nucor Corp, PPG Industries, XLF, JPMorgan, Rowe Price Group Inc, American International Group, Allstate, The, McLennan, Sectors, Co, Hershey Co, Clark Corp, Kroger, Procter, Gamble, Walmart, Getty Images Health, iShares U.S, Medical Devices, Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc, Veeva Systems Inc, IQVIA Holdings Inc, Cigna, Zoetis Inc Locations: American, The Hartford, Marsh, Kimberly

"We've got this window of low taxes here," said certified financial planner Dan Galli, owner at Daniel J. Galli & Associates in Norwell, Massachusetts. Former President Donald Trump's signature tax overhaul temporarily shifted individual income tax brackets by reducing the rates and applicable income levels. "It's a fascinating time to look at how you want to blend or sequence your income in retirement," Galli added. If you're 59½ or older, you can start taking withdrawals from pre-tax retirement plans without incurring a penalty. While you'll still owe regular income taxes, those rates may be lower through 2025, he said.

☆ The best fixed income deals for investors as interest rates surge higher
▼ + stars: | 2023-02-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors searching for income were buoyed by the move higher in the 10-year Treasury yield, but there are also some other opportunities to bring in some cash. "They can blend A with AA and AAA and you can get better yields," Weinberg explained. In fact, a good signal to buy munis is when their yields are at least 85% of corresponding Treasury yields, he said. Investors can also buy municipal bond funds to get exposure to the market. Investors can also get exposure through a diversified exchange traded fund, such as the iShares iBoxx $ Investment Grade Corporate Bond ETF .

Leopatrizi | E+ | Getty ImagesAs part of President Joe Biden's historic student loan forgiveness plan, up to 8 million people could get automatic debt relief, according to the White House. Those who will get automatic loan cancellation are those for whom the U.S. Department of Education already has income data on file and can therefore verify eligibility without waiting for an application. Who qualifies for the automatic loan cancellation? Review your recent tax returns to confirm your income fell below those thresholds in 2020 or 2021 (either will work). The Education Department will be considering people's so-called adjusted gross income, or AGI, which may be different than your gross salary.

With ongoing stock market volatility, high inflation and interest rate hikes, many wonder if we're heading for a prolonged economic downturn. "I think we have to be defensive," said certified financial planner Ivory Johnson, founder of Delancey Wealth Management in Washington, D.C. While it's impossible to predict exactly what will happen, financial advisors are preparing clients for whatever may be on the horizon. But Johnson has already warned clients about the possibility of more volatility, pointing to the Fed's rate hikes. There may be 'good opportunities'While Baker doesn't suggest major changes, there may be "good opportunities" — such as real estate — amid relatively high inflation due to yield and appreciation, he said.

☆ Market rout has muni bonds looking attractive. How to add them to your portfolio
▼ + stars: | 2022-09-25 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

"Uncertainty around how high interest rates will go has driven redemptions in muni bond funds," he explained. Whenever we have a chance to add to muni bonds now, we do so." For instance, you can go to Fidelity Investments' website and access more than 50,000 municipal bonds as new issues or through dealers on the secondary market. Here are five Morningstar five-star rated muni bond funds. "Many closed-end bond funds are trading at prices that are below their net asset value," he said.

Search resuls for: "Gilreath"

22 mentions found