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☆ Asia was most impacted by extreme weather and climate in 2023, UN report shows
▼ + stars: | 2024-04-26 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

Sarote Pruksachat | Moment | Getty ImagesAsia was the most disaster-hit region in the world last year as extreme weather and climate threats intensified amid global warming, according to the World Meteorological Organization, the UN's weather agency. According to a NASA report, increased temperatures are associated with variations in precipitation and increased frequency of both drought and extreme water events. watch nowWhile WMO found that much of Asia suffered from a substantial lack of precipitation in 2023, there were also many extreme weather events associated with heavy rainfall and flooding. The WMO report noted that a lack of rainfall could also have detrimental effects on drinking water sources, agriculture, industry, and hydropower. Authors of the report argued the data confirms the need for early warning systems for extreme weather and more disaster risk reduction to mitigate losses and damage caused by climate change in the future.

Persons: Sarote, Celeste Saulo, Saulo, heatstroke Organizations: Asia, World Meteorological Organization, NASA, WMO Locations: Asia, Siberia, China, Japan, Kazakhstan, India, —, Beijing

☆ I visited a Cathay Pacific first-class lounge in Hong Kong. It was so incredible I forgot I was even in an airport.
▼ + stars: | 2024-04-22 | by ( Rachel Dube | ) www.businessinsider.com time to read: 1 min

I didn't have to wait to get into the lounge, which felt premium as soon as I walked in. Rachel DubeCathay Pacific has two lounges for first-class fliers in this airport — The Wing and The Pier — but the latter was closest to me, so I chose to visit it during my travels. According to Cathay Pacific's website, the lounge is available from 5:30 a.m. to 12:30 a.m. daily. To enter the lounge, I scanned my boarding pass at the check-in station. From the moment I entered, it felt like a premium airport lounge experience.

Persons: Rachel Dube Cathay, I've Organizations: Rachel Dube Cathay Pacific, Cathay Pacific's Locations: It's

☆ The US Army has its eyes on the Arctic and is readying soldiers for the cold, unforgiving wastes that could be their next battlefield
▼ + stars: | 2024-03-13 | by ( Chris Panella | ) www.businessinsider.com time to read: +11 min

AdvertisementThe two-week JPMRC Alaska training exercise involved over 8,000 troops from the 11th Airborne Division, as well as international allies and partners. Brandon VasquezBack in 2021, the US Army released its new strategy on regaining Arctic dominance, leading to the reorganization of its Alaskan forces and priorities. AdvertisementAll Arctic nations are keeping an eye on what could be seen as increased access to energy, minerals, and resources in the Arctic. AdvertisementU.S. Army Soldiers assigned to the 11th Airborne Division patrol on snow machines during the Joint Pacific Multinational Readiness Center 24-02 exercise at Donnelly Training Area, Alaska, Feb. 17, 2024. For that reason, the Army appears to be encouraging its Arctic soldiers to be creative and able to adapt to whatever conditions or situations they might encounter.

Persons: —, Col, Sean Lucas, JPMRC, Brandon Vasquez, Spc.Wyatt Moore, Abreanna Goodrich, China —, I've, Zachary Burns, Sammantha Ohm, Joseph Gaskin Organizations: US, Army, Service, US Army Pacific's, Pacific Multinational Readiness Center, Business, 11th Airborne Division, U.S ., 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, U.S, US Army, U.S . Army, 3rd Battalion, 509th Parachute Infantry Regiment, 2nd Infantry Brigade Combat Team, 11th Airborne, Donnelly Training, Public Affairs Detachment, National Intelligence, Spc, Department of Defense, Army Spc, 5th Squadron, 1st Calvary Regiment, Delta Co Locations: Russia, China, Fairbanks , Alaska, Alaska, Hawaii, U.S, Utqiagvik, Soviet Union, Canada, Denmark, Russian, JPMRC

☆ Asia's tech industry is recovering on chip boom amid global economic uncertainty, JPMorgan says
▼ + stars: | 2024-03-06 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

SINGAPORE – Asia-Pacific's tech sector has been growing on the back of the semiconductor boom even as other industries struggle amid global macro uncertainty, according to investment bank JPMorgan. "Tech has been recovering, that's why Asia has done reasonably well in the second half of last year. China industry benefited, North Asia obviously benefited more from it," Bruce Kasman, chief economist at JPMorgan said in a media briefing on Tuesday. Global tech spending weakened in 2023 while layoffs rose, said Deloitte in a report on tech industry's 2024 outlook. The recovery in tech is significant as other industries are still struggling.

Persons: Bruce Kasman, Deloitte, Ong Sin Beng Organizations: JPMorgan, Tech, Global, Deloitte, Nvidia Locations: SINGAPORE – Asia, that's, Asia, China, North Asia, U.S

☆ China and Russia are outpacing the US and its allies in military technology development, Australian defense official warns
▼ + stars: | 2024-03-06 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

An Australian defense official is warning about military tech gaps between the US and China. AdvertisementThe US and Australia must reinforce their industrial partnership and step up military preparations in the Indo-Pacific region amid China's increasingly aggressive behavior in the South China Sea, a high-ranking Australian defense official said this week. Jeffrey's comments come after years of rising tensions in the Indo-Pacific region. Advertisement"Russia and China are outpacing the US and its allies," Jeffrey said, according to the outlet, which noted that he was discussing military technology. AdvertisementThe Department of Defense said in a recent China Military Power Report that China is "the only competitor" to the US with the intent and capacity to change the global order.

Persons: —, Hugh Jeffrey, Jeffrey, Biden Organizations: Service, Industry, Center for Strategic, International Studies, China Morning Post, Navy, US, US Army, BI, of Defense Locations: China, Asia, Australia, South China, Washington, DC, Russia, Taiwan, Indonesia

☆ US soldiers say running high-stress artillery ops deep in the ever-changing Arctic is unlike anywhere else
▼ + stars: | 2024-03-05 | by ( Chris Panella | ) www.businessinsider.com time to read: +8 min

Read previewDeep in the Arctic, US troops are training to conduct difficult and high-stress artillery operations in challenging cold-weather conditions. The challenges, soldiers told Business Insider, come from the freezing temperatures, harsh weather, and unpredictable ground conditions. "There's a lot more than goes into it, especially in the Arctic environment, than the rest of the world," Sgt. Soldiers with 2nd Battalion, 11th Field Artillery, 25th Infantry Division work with M119 Howitzers to enhance their basic artillery skills on Schofield Barracks, Hawaii, June 14, 2020. Troops are being proactive rather than reactive, they told BI, looking for new or alternative firing positions in real time.

Persons: —, Zachary, Paige Behringer, Brandon Vasquez USARPAC, Charles A, Flynn, Abreanna Goodrich, Poole, Timothy Crumpler, Mike Godinez, Martinez, they're, it's, Zachary Tousignant, Stephanie Snyder It's, Tousignant Organizations: Service, Business, Zachary Poole, Artillery, Army, Pacific Multinational Readiness Center, 11th Airborne Division, 2nd Battalion, 15th Field Artillery Regiment, 2nd Brigade Combat Team, Division, Fort Drum , New York . U.S, Staff, U.S, 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, US Army, BI, U.S . Army, Donnelly Training, Spc, U.S . Army Spc, Co, Battalion, 509th Parachute Infantry Regiment, 2nd Infantry Brigade Combat Team, Joint Pacific Multinational Readiness, Martinez Soldiers, 11th Field Artillery, 25th Infantry Division, . Troops Locations: Fairbanks , Alaska, Fort Drum , New York, Utqiagvik, Alaska, China, Russia, North Korea, U.S, Hawaii, Ukraine

☆ US Army soldiers are working closer than ever with allies in the Pacific to counter China's 'aggressive, insidious' ways, top general says
▼ + stars: | 2024-02-22 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementU.S. Army Gen. Charles Flynn, Commander of the U.S. Army Pacific, speaks with soldiers from the 1st Infantry Brigade Combat Team, 11th Airborne Division, during Joint Pacific Multinational Readiness Center 24-02 at Donnelly Training Area, Alaska, Feb. 15, 2024. This month, US Army Pacific conducted its JPMRC training rotation in Alaska, where thousands of troops are trained to wage war in frigid, Arctic conditions. The Joint Pacific Multinational Readiness Center also does a training rotation in Hawaii, where troops conduct exercises in the jungle. That training is also conducted with a host of US allies and partners in the Pacific.

Persons: —, Army Pacific's, IPACC, Gideon Battis Gen, Charles A, Flynn, he's, Charles Flynn, Mike Godinez, Martinez, USARPAC, Joseph A, Ryan Organizations: Service, US Army, Pacific Multinational Readiness, Army, Business, Pentagon, Department of Defense, People's Liberation Army, Navy, Rocket Force, East China Seas, Combat, US Army Pacific, U.S . Army Pacific, 1st Infantry Brigade Combat Team, Airborne, Donnelly Training, U.S, Talisman, Talisman Sabre, Pacific Multinational Readiness Center Locations: China, Pacific, Australia, Alaska, Hawaii, People's Republic of China, United States, Philippines, Taiwan Strait, East, South Korea, Japan, Thailand

Vcg | Visual China Group | Getty ImagesAsia-Pacific's travel sector is seeing strong growth, with demand for flights set to match pre-pandemic levels this year — thanks to Chinese tourists. The region's travel demand in December 2023 improved to almost 83% of 2019 numbers compared with just 57% in January, according to the International Air Transport Association. Experts believe Chinese tourists will fuel this demand, particularly as they visit Southeast-Asian destinations within the wider region. watch nowTravel demand from Chinese tourists in Southeast Asia saw a notable rise in January, said James Sullivan, head of Asia-Pacific equity research at JPMorgan. Outside of Asia Pacific, the U.S., U.K., South Korea, Japan and Australia were popular holiday spots for Chinese travelers.

Persons: Willie Walsh, CNBC's, James Sullivan, Sullivan Organizations: Visual China, Getty, International Air Transport Association, JPMorgan, ASEAN, Research, Citi, Asia Pacific Locations: Yantai, Shandong Province, China, Southeast Asia, Asia, ASEAN, Thailand, Singapore, Malaysia, Vietnam, Indonesia, U.S, South Korea, Japan, Australia

☆ CNBC Daily Open: Worries over rate cuts persist
▼ + stars: | 2024-02-22 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading on July 06, 2023 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nikkei hits record highJapan's Nikkei hit a record high Thursday, while other markets in the region also advanced. AI and chip stocks rallyArtificial intelligence and semiconductor chip stocks rallied after Nvidia's quarterly earnings topped estimates.

Persons: Morgan Stanley, Jim Caron Organizations: New York Stock Exchange, CNBC, Nikkei, Wall, Dow, Nasdaq, Nvidia, Taiwan Semiconductor Manufacturing, Federal, International Air Transport Association, Morgan Stanley Investment Locations: New York City, . Federal, China, Asia

Before last year, paid sick leave was generally not offered to railroad workers. That's instead of joining all the other major freight railroads in negotiating jointly with rail unions on an agreement over pay and benefits. The rail industry reached the brink of a strike in the fall of 2022 before Congress and President Joe Biden intervened to force rail workers to accept a contract. Union Pacific, BNSF and Norfolk Southern now have paid sick time agreements in place with all their unions. Canadian National also trails behind the big U.S. railroads, but still offers sick time to about 46% of its U.S. workers.

Persons: —, Ed Dowell, CPKC “, ” CPKC, That's, Patrick Waldron, ” Waldron, “, CPKC, Joe Biden, wouldn't Organizations: Rail, CPKC's, American Train, Association, Kansas City Southern, Canadian Pacific, CSX, Union Pacific, Norfolk, Canadian Locations: OMAHA, Neb, Kansas City , Missouri, CPKC's U.S, Minnesota, U.S, Calgary, United States, Kansas City, Kansas, Canadian Pacific, North America, BNSF, Norfolk Southern

☆ Cramer names railroad stocks to watch as Red Sea troubles shake up freight routes
▼ + stars: | 2024-01-31 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Wednesday suggested railroad stocks may be starting to climb. "Boy is that terrific for the West Coast operators, and there you're thinking about Union Pacific and Canadian Pacific Kansas City." Cramer reviewed earnings reports from Union Pacific , Canadian Pacific Kansas City , CSX and Norfolk Southern , saying all except the latter have potential. Canadian Pacific Kansas City saw the largest volume growth of the bunch. If investors feel confident about the economy, they have Cramer's "blessing to stick with Union Pacific, Canadian Pacific, or CSX — in that order, by the way — and forget about Norfolk Southern for the moment."

Persons: CNBC's Jim Cramer, Cramer, we've, — you've Organizations: West Coast, Union Pacific, Canadian Pacific, Canadian Pacific Kansas City, Norfolk, Pacific's, Canadian, CSX, Norfolk Southern Locations: Yemen, Red, West Coast, Suez, East Coast, Canadian Pacific Kansas, Canadian Pacific Kansas City, CSX, Canadian Pacific, Ohio

(AP) — Union Pacific's fourth-quarter profit crept up 1% as the railroad delivered more fertilizer, imported goods and vehicles. The Omaha, Nebraska-based railroad said it earned $1.65 billion, or $2.71 per share, in the quarter. The results topped the estimates of the analysts surveyed by FactSet Research that called for earnings of $2.60 per share as Union Pacific hauled 3% more shipments. But Union Pacific's topped Wall Street's predictions for $6.05 billion. Union Pacific is one of the nation’s largest railroads and operates more than 30,000 miles of track in 23 western states.

Persons: Jim Vena, ” Vena Organizations: — Union Pacific's, FactSet Research, Union Pacific, Union, . Union Pacific, Railroad Locations: OMAHA, Neb, Omaha , Nebraska, Norfolk Southern, Ohio

☆ This stock should benefit from Red Sea turmoil disrupting shipping, Redburn says
▼ + stars: | 2024-01-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The railroad Canadian Pacific Kansas City is poised to benefit from mounting disruptions to shipping in the Red Sea that are rerouting global trade routes, according to Redburn Atlantic. The railroad's land bridge through North America is an attractive alternative for cargo from Asia to the U.S. East Coast as the Suez and Panama canals face disruptions to traffic. Container shipping through the Red Sea was down 30% in mid-December due to repeated attacks by Iran-allied Houthi militants in Yemen, Holmes told clients. CPKC's land bridge through Mexico north to the U.S. shortens transit time by 10 to 14 days compared to the Panama Canal, Holmes wrote. "This route is materially faster (10-14 days) than going through the Panama Canal, especially when there are restrictions in place," he told clients.

Persons: Oliver Holmes, Holmes, CPKC Organizations: Canadian, Canadian Pacific Kansas City, U.S ., Ships, Kansas City Southern, CP Locations: Canadian Pacific Kansas, Lázaro, Coast, U.S . East Coast, North America, Asia, Suez, Panama, Iran, Yemen, Hope, Africa, U.S . East, Mexico, U.S

☆ Eleven climbers killed as Indonesia volcano erupts, search on hold
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

[1/6] Mount Marapi volcano spews volcanic ash as seen from Nagari Batu Palano in Agam, West Sumatra province, Indonesia, December 4, 2023, in this photo taken by Antara Foto. The 2,891 metre (9,485 ft) high volcano spewed ash as high as 3 km into the sky on Sunday. Video footage showed a huge cloud of volcanic ash spread widely across the sky and cars and roads covered with ash. There were 49 climbers evacuated from the area earlier Monday and many were being treated for burns, he said. Indonesia sits on the Pacific's so-called "Ring of Fire" and has 127 active volcanoes, according to the volcanology agency.

Persons: Antara, el, Jodi Haryawan, Jodi, Marapi, Ananda Teresia, Martin Petty Organizations: REUTERS Acquire, Rights, Authorities, Thomson Locations: Batu, Agam , West Sumatra, Indonesia, Rights JAKARTA, West Sumatra

☆ Indonesia's Marapi Volcano Erupts, Spewing Ash
▼ + stars: | 2023-12-03 | by ( Dec. | At A.M. | ) www.usnews.com time to read: +1 min

JAKARTA (Reuters) - Indonesia's Marapi volcano in West Sumatra province erupted on Sunday, spewing volcanic ash as high as 3,000 metres (9,843 ft) into the air, according to country's disaster management agency BNPB. The 2,891 metre high volcano erupted at 2.54 p.m. local time (0754 GMT), and volcanic ash was dispersed at high intensity to nearby districts, authorities said. Authorities have barred residents and visitors from carrying out any activities within 3 kilometres of the crater, and have set the second-highes alert level for Marapi mountain. "We have distributed masks to residents and encourage them to stay inside their houses," said Ade Setiawan, an official at BPBD's local disaster management unit. Indonesia sits on the Pacific's so-called "Ring of Fire" and has 127 active volcanoes, according to the volcanology agency.

Persons: Ade Setiawan, Bernadette Christina, Jan Harvey Organizations: BNPB Locations: JAKARTA, West Sumatra, Indonesia

As the Nebraska explosion made clear, there can be problems that are hard to spot before potentially disastrous accidents occur. Some details about the explosion might never be known because the shipping container carrying the acid was destroyed. Union Pacific CEO Jim Vena said he understands and welcomes the agency's scrutiny. Vena said Union Pacific and other major railroads have become safer over time. “And that’s what I’m challenging the team with here at Union Pacific is we have to get better ... We’ll invest in it.

Persons: haven’t, ”, Andy Foust, Warren Flatau, Pete Buttigieg, —, Foust, “, hasn’t, Dennis Thompson, Thompson, Jim Vena, Vena, We’ll, Charlie King Organizations: —, Union Pacific, Federal Railroad Administration, . Transportation, Rail, Transportation Workers, Transportation Division, . Railroad, Materials Safety Administration, Norfolk Southern, Platte Fire, Pacific, of Railroad Infrastructure Locations: OMAHA, Neb, Nebraska, North Platte , Nebraska, Omaha, Norfolk, Ohio, railyard, Palestine

Walsh died Nov. 12 at his home in Myrtle Point, Oregon, his daughter, Elizabeth Walsh, said Monday. “I knew we were making history,” Walsh told The World newspaper of Coos Bay, Oregon, in 2010. “There was an opportunity to pioneer,” Walsh told The World. It wasn’t until later they told us what they had in store.”Walsh was born Nov. 2, 1931, in Berkeley, California. Walsh traveled the world, including many trips to Antarctica, where the Walsh Spur pointed rock is named in his honor.

Persons: Don Walsh, Mariana Trench —, Walsh, Elizabeth Walsh, Jacques Piccard, Mariana Trench, “, ” Walsh, ” Piccard, Piccard, “ Walsh, Kurt Rothenhaus, Kelly, Don’t, ”, “ He’s, Kelly Walsh, Victor Vescovo, ” Vescovo, Don Walsh’s, Joan, ___ Thiessen Organizations: U.S . Navy, Navy, U.S . Naval Academy, University of Southern, Public, U.S . State Department, Naval, Dallas, Twitter Locations: Myrtle Point , Oregon, U.S, Swiss, Trieste, Guam, Pacific, Coos Bay , Oregon, San Diego, Berkeley , California, Texas, University of Southern California, Antarctica, Kelly, Anchorage , Alaska

☆ Your world in 10 minutes: Pleas for Gaza newborns
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Israeli forces are pushing to enter Gaza’s main al-Shifa hospital, where medics said patients including newborn babies were dying for lack of fuel. Pope Francis makes the rare move of dismissing a conservative US bishop. And how climate change has thrust the tiny Pacific Islands nation of Tuvalu into the spotlight – and a big diplomatic deal with Australia. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Further ReadingIsraeli tank at gate of main Gaza hospital; medics plead for fuel to save babiesAustralia signs security, migration pact with Pacific's TuvaluIn very rare move, Pope dismisses conservative US bishop StricklandOur Standards: The Thomson Reuters Trust Principles.

Persons: Pope Francis, Pope, Strickland Organizations: Apple, Google, Reuters, Biden, SpaceX, Thomson, Reading, Pacific's Locations: Gaza’s, Tuvalu, Australia, Mars, Gaza, Pacific's Tuvalu

☆ The US Air Force is training to take down Chinese warships, but China's military has built a 'wicked' problem for it to overcome
▼ + stars: | 2023-11-13 | by ( Christopher Woody | ) www.businessinsider.com time to read: +12 min

That's not a new task for the US Air Force, but it faces a 'wicked' threat from China's air defenses. AdvertisementAdvertisementThe US Air Force is working on improving its ability to sink well-defended warships, a reflection of the US military's concern about the growing size and increasing capability of China's navy. US Naval History and Heritage CommandUS pilots have trained to sink warships since the early 1920s, well before the Air Force's founding in 1947. US Air Force A-10s at Naval Air Station North Island in California for Green Flag-West in November 2022. Wilsbach said in September that training by Pacific Air Forces has emphasized "stacking effects" to bring more weapons to bear.

Persons: That's, —, Nancy Pelosi's, Pelosi, Gen, Kenneth Wilsbach, we've, Wilsbach, Sun, Brendan Mulvaney, Mulvaney, eng.chinamil.com.cn, Yang Yunxiang, that's, Mark Kelly, Kelly, hasn't, Lyle Goldstein, TENGKU BAHAR, Goldstein, they've, John Baum, Baum, Zachary Rufus, Col, Daniel Lehoski, William R, Lewis, Lockheed Martin, Lindsey Heflin Organizations: US Air Force, Service, US Pacific Air Forces, an Air and Space Forces Association, China News Service, Getty, China Aerospace Studies Institute, Department of, Air Force, United, and Space Forces Conference, Air Combat Command, Defense, Heritage Command US, Air, Navy, Mitchell Institute for Aerospace Studies, Naval Air Station, Green Flag, West, US Army, Air Force Weapons, Weapons, Flag, Nellis Air Force Base, Nevada ., Pacific, US Navy, Squadron, Force, Missiles, Ship, Lockheed, Command, Lindsey Heflin Air Force, Pacific Air Forces, Army Locations: China, Taiwan, Pacific, United States, Ukraine, Asia, Hong Kong, Liaoning, Shandong, Fujian, Iraq, Afghanistan, California, Nevada

☆ Australia signs security, migration pact with Pacific's Tuvalu
▼ + stars: | 2023-11-10 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

[1/2] A man riding a motorbike is seen reflected in a puddle of water in Funafuti, Tuvalu, August 13, 2019. Under the treaty announced by Australia's Prime Minister Anthony Albanese and his Tuvalu counterpart Kausea Natano, Australia will also vet Tuvalu's security arrangements with other nations. An Australian government official said this requirement covered any defence, police, port, telecommunications, energy or cyber security arrangements by Tuvalu. Although Australia has defence agreements with other Pacific Islands nations, in a region where China recently struck a security pact with Solomon Islands and is seeking to expand its policing ties and infrastructure projects, the Tuvalu treaty goes much further in positioning Australia as its primary security partner. Australia sees deeper economic and social integration with the Pacific Islands as a way to ensure the security of the region, a government official said.

Persons: Mick Tsikasvia, Anthony Albanese, Kausea Natano, Albanese, Natano, " Albanese, Kirsty Needham, Alasdair Pal, Lewis Jackson, Kim Coghill, Christopher Cushing, Lincoln, Michael Perry Organizations: REUTERS Acquire, Rights, Australia's, Tuvalu, Pacific, Tuvalu Falepili, Australia, Canberra, Thomson Locations: Funafuti, Tuvalu, Australia, Taiwan, Beijing, Cook, China, Solomon Islands, Hawaii, Washington, Sydney

☆ The US Army needs tanks to win a war in the Pacific, but it knows the Abrams isn't the right tank for the job
▼ + stars: | 2023-11-07 | by ( Michael Peck | ) www.businessinsider.com time to read: +8 min

But it also knows that rivals are building weapons that are potent against the aging Abrams tank. The Army's main battle tank, the M1 Abrams, now faces two main problems. End of the Abrams eraA US Abrams tank that Iraqi officials said was destroyed in fighting south of Baghdad in April 2003. Threats to the Abrams tank's battlefield dominance, according to the Army Science Board. The Army Science BoardThe Army Science Board assessed various alternatives.

Persons: Abrams, —, China —, Eddie McCrossan, M1A1 Abrams, Scott Nelson, Charles Flynn, Bradley, KARIM SAHIB, Michael Peck Organizations: US Army, Service, Army, Pacific, Rivals, M1 Abrams, Army Science Board, ., Logistics, US Defense Department, Eddie McCrossan Tanks, Nazi, US Army Pacific, Board, for Army, sustainment, China, Abrams, Getty, The Army, Booker, Defense, Foreign Policy, Twitter, LinkedIn Locations: Europe, Asia, Russia, China, Fort Knox, Kentucky, Britain, America, Russo, Ukraine, East Asia, Japan, Malay, Korean, Vietnam, Kuwaiti, Fulda, East, West Germany, Baghdad, AFP, Pacific, Forbes

Oct 26 (Reuters) - GOJO Industries, the maker of Purell hand sanitizer, said on Thursday it would refinance its debt after sources told Reuters that negotiations about the sale of the company to paper and building products manufacturer Georgia-Pacific fell through. The suitor that made the most progress in the sale process for GOJO was Georgia-Pacific, a company owned by Koch Industries, the sources said. Silver Point, Georgia-Pacific and Koch Industries did not immediately respond to requests for comment. The company expanded into skincare and invented Purell, an alcohol-based hand cleaner which dries on its own, in 1988. The company launched Purell in the consumer market in 1997.

Persons: GOJO, Goldie Lippman, Jerry, Clarence Cook, Abigail Summerville, Stephen Coates Organizations: GOJO Industries, Reuters, Silver, Koch Industries, Thomson Locations: Georgia, Pacific, , Georgia, New York

☆ Union Pacific's quarterly profit drops 19% on lower volumes
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

Union Pacific livery on the side of a cargo locomotive is pictured ahead of a possible strike if there is no deal with the rail worker unions, at Union Station in Los Angeles, California, U.S., September 15, 2022. REUTERS/Bing Guan/File Photo Acquire Licensing RightsOct 19 (Reuters) - Union Pacific (UNP.N) reported a 19% fall in quarterly profit on Thursday, as higher labor costs and lower volumes outweighed the benefits from price hikes implemented by the railroad operator. The company's operating ratio, a key metric that indicates operating expenses as a percentage of revenue, rose to 63.4% in the third quarter from 59.9% reported a year ago. Union Pacific, which connects 23 states in the western two-thirds of the country by rail, also posted a 10% decline in quarterly operating revenue to $5.94 billion. Reporting by Ananta Agarwal and Amna Karimi in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Bing Guan, Jim Vena, Ananta Agarwal, Amna, Shilpi Majumdar Organizations: Union Station, REUTERS, Union Pacific, Thomson Locations: Los Angeles , California, U.S, Bengaluru

The Omaha, Nebraska, railroad earned $1.53 billion, or $2.51 per share, during the quarter, That's down from $1.9 billion, or $3.05 per share. The number of shipments Union Pacific delivered slipped 3% in the quarter, and while costs improved about 4% they remained elevated at $3.76 billion. But the average speed of the railroad's trains increased to 200 daily miles per car. Shares of Union Pacific gained more than 3% Thursday to trade for $213.16 around midday. Union Pacific is one of the nation's largest railroads and operates more than 30,000 miles of track in 23 western states.

Persons: Jim Vena, “, ”, Vena, Edward Jones, Jeff Windau, he'll Organizations: — Union Pacific's, FactSet Research, Union Pacific, Union, Union Pacific's, of Union Pacific Locations: OMAHA, Neb, The Omaha , Nebraska, Norfolk Southern, Ohio

☆ Earnings are still good, but stocks are acting like the economy is slowing
▼ + stars: | 2023-10-19 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

There are macro cross currents: earnings are still good, but stocks are acting like the economy is slowing, and the commentary on the consumer has turned cautious. The markets are not sure, but parts are acting like the consumer is slowing down. The AIA/Deltek Architecture Billings Index, a measure of activity at major architecuture firms, reported the lowest levels in September since December 2020, during the height of the pandemic. Earnings growth at 2.8% is good but also lower than the earlier reporters. earnings beat: 5.5% Earnings growth: 2.8% Revenue growth: 6.4% Source: Earnings Scout Welcome to 'higher for longer limbo' The bottom line: there is no escape velocity without relief on bonds.

Persons: Elon Musk, Tesla, Peter Arvan, JB Hunt, Parker Hannifin, Donaldson, WESCO, Martin Marietta, Parker, Hannifin, Ingersoll Rand Organizations: General Motors, Ford, Pool Corp, Revenue, Rand, Caterpillar, AIA, Billings, billings, Ingersoll, Vulcan, Fed Locations: Union, Ingersoll, Fluor

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