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☆ The Dali, the ship that brought down the Baltimore bridge, ran into a problem with its propulsion system months before the crash
▼ + stars: | 2024-03-27 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

The ship that struck a key bridge on Tuesday was reported to have an issue with its propulsion in June. The Dali lost propulsion on Tuesday, but it's unclear if this was related to the June issue. AdvertisementThe 984-foot container vessel that lost power and crashed into the Francis Scott Key Bridge on Tuesday had issues with its propulsion system just months before, records show. AdvertisementClay Diamond, the executive director of the American Pilots' Association, told The Washington Post that the Dali lost power at around 1:20 a.m., around eight minutes before the crash. AdvertisementThe Francis Scott Key Bridge was Baltimore's biggest bridge, and the loss of such critical infrastructure will likely cause supply chain issues across multiple industries.

Persons: Dali, —, Francis Scott Key, Wes Moore, it's, Clay Diamond, Diamond, We've, BI's Dominic Reuter, BI's Erin Snodgrass Organizations: Service, Port Authority, Synergy Marine, American Pilots ' Association, Washington Post, USA, REUTERS Authorities, Business, Maryland Transport Authority, Port, Maersk Locations: Singapore, Patapsco, Baltimore, Maryland, Asia Pacific, San Antonio, Chile, Harford County, Antwerp, Port, Port of Baltimore, Danish, Copenhagen

Read previewA container ship crashed into a major bridge in Baltimore early Tuesday, causing its collapse into the Patapsco River. Baltimore first responders called the situation a "developing mass casualty event" and a "dire emergency," per The Associated Press. pic.twitter.com/ipoTR2HljY — Harford Co., MD Fire & EMS (@HarforCoFireEMS) March 26, 2024The vessel is the Dali, a Singapore-flagged container ship about 984 feet long, and 157 feet wide, per a listing on VesselFinder. The Dali's owner is listed as Grace Ocean, a Singapore-based firm, and its manager is listed as Synergy Marine, which is also headquartered in Singapore. AdvertisementStaff for Grace Ocean declined to comment on the crash when contacted by Business Insider.

Persons: —, Francis Scott Key, James Wallace, Wallace, Richard Worley, Wes Moore, Pete Buttigieg, Moore, Baltimore Francis Scott Key, ipoTR2HljY —, Dali, Grace Ocean, Barbara Rossi, Claudia Norrgren, it'll Organizations: Service, Baltimore, Associated Press, Business, Sonar, Biden Administration, Volunteer Firefighters, Volunteer Swift Water Team, Team, Unified Command, ipoTR2HljY — Harford Co, Synergy, Shipping, Staff, Grace, Maersk, Dali, University of Oxford, Hyundai Heavy Industries, Port Locations: Baltimore, Patapsco, Maryland, @jmvfc8, Singapore, Danish, Colombo, Sri Lanka, Port, South Korea, Antwerp

☆ What we know about the Baltimore bridge collapse
▼ + stars: | 2024-03-26 | by ( Holly Yan | ) edition.cnn.com time to read: +5 min

CNN —A massive cargo ship plowed into Baltimore’s Francis Scott Key Bridge early Tuesday, causing the 1.6-mile bridge to crumble like a pile of toothpicks and plunge cars and people into the frigid water below. Here’s what we know about the catastrophe:Why did the bridge collapse? The Patapsco River is about 50 feet deep under the Francis Scott Key Bridge, Wiedefeld said. The water temperature in Baltimore Harbor near the site of the bridge collapse was about 46 to 48 degrees Fahrenheit on Tuesday morning. The Francis Scott Key Bridge lies in shambles after a massive cargo ship crashed into one of its pillars overnight in Baltimore.

Persons: Francis Scott Key, DALI, Dali, Wes Moore, it’s, Paul J, Wiedefeld, “, ” Wiedefeld, James Wallace, ”, It’s, Andrew McCabe, ” McCabe, McCabe, we’ve, Akbarzai, Andy Rose, Derek van Dam, Monica Garrett, AnneClaire Stapleton, Louis Mian Organizations: CNN, Francis Scott Key Bridge, Maritime, Port Authority, Synergy Marine, Ltd, Maryland Gov, Maryland Transportation, Baltimore City Fire, Sonar, Synergy Group, National Weather Service, Reuters, University of Minnesota, FBI Locations: Singapore, Maryland, Patapsco, Baltimore, “, Baltimore Harbor, Harford County

The body and cremains were found on Feb. 6 by someone who was cleaning out the house after Harford was evicted, police said. The body of a 63-year-old woman was found in a hearse on the property. Photos You Should See View All 33 ImagesThe other cremains found on the property appear to have been professionally cremated, officials said. Investigators are checking labels on the cremains and state databases in an effort to return the cremains to their families. The owners of the Return to Nature Funeral Home — Jon and Carie Hallford, face hundreds of felony charges.

Persons: Miles Harford, Harford, Jon, Carie Organizations: DENVER, Denver, Medical Locations: Denver, Littleton, Penrose , Colorado, Colorado

☆ Top money managers are warning of pain ahead for the US economy. Here are 6 areas where they're investing right now to prepare.
▼ + stars: | 2023-09-29 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

"There is a subset that simply cannot do that," she said of paying down credit card debt going forward as rates rise. "In those tails and subsets I think you're going to have really unusual delinquencies, and just horrible recovery rates." You're going to see defaults increase." Delaney also emphasized being defensive, and said he likes corporate bonds, but those with floating rates, meaning they move with the market rate. The iShares 10-20 Year Treasury Bond ETF (TLH) is one way to gain exposure to long-term government bonds.

Persons: Dawn Fitzpatrick, Katie Koch, haven't, it's, Mark Delaney, Suni Harford, I'd, Brad Gerstner, Jerome Powell, Volcker, Koch, —, We're, Rick Rieder, he's, Delaney, Fitzpatrick Organizations: CNBC's, Alpha, Federal Reserve, Soros Fund Management, TCW, UBS, Management, BlackRock, JPMorgan, Corporate, Treasury Bond ETF, Vanguard Energy, DB Oil Fund Locations: Europe, Saudi Arabia

☆ Anything with a floating-rate nature 'must be a pretty compelling opportunity': AustralianSuper CIO
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnything with a floating-rate nature 'must be a pretty compelling opportunity': AustralianSuper CIOMark Delaney, AustralianSuper CIO and deputy chief executive, and Suni Harford, UBS Asset Management president, join CNBC's Delivering Alpha 2023 conference to discuss key insights and allocation strategies across some of the world’s most important capital markets, investing opportunities in China, and more.

Persons: Mark Delaney, Suni Harford Organizations: UBS Asset Management, CNBC's, Alpha Locations: China

CNN —Mass shootings, like the ones that occurred Monday in Philadelphia and Fort Worth, Texas – and over the weekend in Baltimore — are not uncommon around the Fourth of July. The holiday has accounted for the most mass shootings of any other days of the year in nearly a decade, according to a CNN analysis of the Gun Violence Archive’s mass shooting data since 2014. So far, there have been at least 10 mass shootings on July 4 and 5, according to GVA. Summer days overall have higher numbers of mass shootings than other times of the year, according to CNN’s analysis. Of the top 10 calendar days with the highest number of mass shootings since 2014, all but one — New Year’s Day — was in June, July or August.

Persons: David Laughlin, WEWS, Angie Willhite, Cassondra Fovel, —, Leslie Parson Organizations: CNN, Mason, Community Center, WEWS, Akron Police Department, Sheriff’s, Twitter, Shreveport Police, WILX, Hayward Police, Metropolitan Police Locations: Philadelphia, Fort Worth , Texas, Baltimore, GVA, Akron , Ohio, Edgewood , Maryland, Harr, Edgewood, Harford, Shreveport , Louisiana, Lansing , Michigan, Hayward , California, Washington

☆ Pentagon explains the mysterious Russian tank at a truck stop in Louisiana — saying it was disarmed and is going to an Army training center
▼ + stars: | 2023-04-19 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

A Russian T-90A tank was left at a casino and travel center in Roanoke, Louisiana last week. The Pentagon claimed ownership of the tank on Tuesday, The War Zone reported. It said it was on its way to a US Army training center when the truck carrying it broke down. "I've been here seven years," Valerie Mott, the assistant manager of the casino and travel center, told The War Zone. Its website says that the training center is "responsible for numerous technical achievements in military intelligence, medical research, engineering, and computer technology."

☆ Rapid Warehouse Growth Sparks Local Resident Backlash Across the U.S.
▼ + stars: | 2023-03-28 | by ( Kate King | Photographs Matt Roth For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Bob Cassilly describes himself as pro-business. But as the newly elected county executive of Harford County, Md., he is trying to stop construction of giant warehouses that feed e-commerce and other businesses. Mr. Cassilly has proposed a six-month moratorium on warehouse construction in the county, which lies between Philadelphia and Baltimore. Until now, Harford County has had few restrictions on industrial development.

Increasingly, they said conversations in C-suites and with financiers had turned to the risks that climate change presented to businesses. Climate activist Greta Thunberg made the journey up the Swiss Alps to call on the global energy industry and its financiers to end all fossil fuel investments. Suni Harford, the president of UBS's asset management arm who leads the bank's sustainability efforts, said her conversations at Davos suggested no let up in focus on climate, despite the shorter-term pressures. "Clients are becoming ever more informed on the energy transition, demand for sustainable and green products has held up well, and clients are increasingly looking to measure the impact of their portfolios." "Put forward credible and transparent transition plans on how to achieve net zero – and submit those plans before the end of this year," Guterres said in a speech.

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