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☆ Three years ago, this Florida high school started a skilled trades program — now there's a waiting list to get in
▼ + stars: | 2024-10-05 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Angela Ramirez-Riojas, 18, is enrolled in Riverview High School's construction academy. Courtesy: Riverview High SchoolFor Angela Ramirez-Riojas, 18, going to college was always plan B. Ramirez-Riojas, who is a senior at Riverview High School in Riverview, Florida, enrolled in her school's recently opened vocational program in construction. "Construction trades is not just the physical part, there's other parts of it that encompass the whole industry," Lahdenpera said. In fact, new construction hires earn more than new hires in the professional services, according to payroll-services provider ADP.

Persons: Angela Ramirez, Ramirez, Riojas, I've, isn't, Erin Haughey, Riverview's, Haughey, Jeff Lahdenpera, It's, Lahdenpera, Katie Alderman, Ted Jenkin, Gen, There's Organizations: Riverview, Riverview High School, Finance, Teens, Neal Communities, Associated Builders and Contractors, Junior Achievement, Citizens Bank Locations: Riverview, Riverview , Florida, Lakewood Ranch , Florida, Atlanta

☆ Maersk slumps 7% as the end of U.S. port strikes weighs on European shipping stocks
▼ + stars: | 2024-10-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An aerial view of the Dundalk Marine Terminal October 03, 2024 in Baltimore, Maryland. Shares of Moller-Maersk slumped more than 8% on the Friday market open as European shipping companies fell on the conclusion of a U.S. port strike. A prolonged strike would have provided a boost for European shippers to take a larger share of global supply chain demands. Maersk shares pared losses slightly to trade down 7.05% by 9:05 a.m. London time. Thursday's deal ended a strike that had choked U.S. East Coast and Gulf Coast ports since the start of the week and threatened U.S. supply of fruits, pharmaceuticals and automobiles, among other goods.

Persons: Germany's Hapag Lloyd, Nagel Organizations: Dundalk Marine, Moller, Maersk, U.S, dockworkers, United States Maritime Alliance, International Longshoremen's Association Locations: Dundalk, Baltimore , Maryland, U.S, London, Swiss, East Coast, Gulf Coast

☆ Israel may not be able to take down Iran's nuclear sites on its own
▼ + stars: | 2024-10-04 | by ( Mikhaila Friel | Tom Porter | ) www.businessinsider.com time to read: +6 min

One option would be to take out Iran's nuclear sites — something Biden opposes. A hit on Iran's nuclear facilities could, however, create far graver consequences, potentially including a race by Iran to build a nuclear weapon. AdvertisementUS President Joe Biden would not support Israel's Prime Minister Benjamin Netanyahu in targeting nuclear sites. As The Financial Times noted, there are more than a thousand miles between Israel and Iran's main nuclear bases. And Iran's nuclear sites present a formidable target, sprawling across various sites, with several of the most sensitive located in heavily fortified underground bunkers.

Persons: Biden, —, Sabet, Joe Biden, Wisam, Benjamin Netanyahu, Jim Watson, Matthew Savill, Robert Dover, Issam, Filipo, Savill Organizations: Service, Geneva Graduate Institute, New York Times, Getty Images Israel, Brent, Reuters, Getty, Financial Times, US Congressional Research Service, Atomic Scientists, Royal United Services Institute, Hull University, EU, UN, University of Bristol Locations: Israel, Iran, It's, Lebanon, Anadolu, Fordow, London, Dover

☆ The port strike is over. Here’s what happens next
▼ + stars: | 2024-10-04 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

Then union members will get additional $4-per-hour raises every year during the life of the six-year tentative deal. The union had been willing to consider the $4-an-hour deal before the strike, union boss Harold Daggett said on the picket line outside the Port of New York and New Jersey early Tuesday, soon after the start of the strike. Thursday’s deal likely is the end of the strike, but it doesn’t close the door on a new strike in the future. Should the members vote against the deal, the strike might start once again. But union members voted nearly unanimously to reject it and have remained on strike since September 13.

Persons: Harold Daggett, Bryan R, Smith, Helene, Bethann Rooney, ”, Rooney Organizations: New, New York CNN, United, International Longshoremen’s Association, United States Maritime Alliance, Getty, Port Authority of New, Hurricane Sandy, International Association of Machinists, Boeing Locations: New York, United States, East, Gulf Coast, Port of New York, New Jersey, Maine, Texas, Virginia, Port Newark, AFP, Port Authority of New York, Port, NY, NJ, Hurricane

☆ A lasting U.S. ports strike deal is far from done, with automation a big hurdle in ILA/USMX negotiations
▼ + stars: | 2024-10-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Dockworkers strike in a picket line outside of the Port of Houston Authority on October 01, 2024 in Houston, Texas. The strike, affecting 36 ports, marked a historic event and was the first by the union since 1977. (Photo by Brandon Bell/Getty Images)The tentative agreement to suspend the International Longshoremen's Association strike may have consumers and businesses breathing a sigh of relief. In a statement Friday, the ILA said it wants to tighten the language related to the use of automation at ports. It is only a tentative agreement and automation at ports will remain a major stumbling block," said Peter Sand, chief shipping analyst at supply chain intelligence firm Xeneta.

Persons: Brandon Bell, Peter Sand, Harold Daggett, Daggett, Dennis Daggett, Harold Daggett's, that's, Sand, Dr, Michael Nacht, Larry Henry Organizations: Port, Houston Authority, International Longshoreman's Association, United States Maritime Alliance, International Longshoremen's Association, ILA, CNBC, Office, GAO, Public, University of California, Defense, ContainerTrac, International, Warehouse Union, Pacific Maritime Association Locations: Houston , Texas, U.S, Berkeley, Long Beach, Los Angeles , California, West Coast

☆ Chaos is building for shippers as U.S. port strike continues and costs rise
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

Brashier said some clients had containers that were once destined for the Port of Savannah diverted to the Port of Norfolk in the last hours before the strike began. More than a dozen container vessels are currently waiting in the port anchorage area of Freeport, Everstream Analytics data shows. MSC, the largest containership company in the world, has diverted two vessels, according to Vizion. A container ship departs the Port of Newark for the Atlantic Ocean on September 30, 2024 seen from New York City. Christian Roeloffs, cofounder and CEO of Container xChange, said the timing of this strike is especially challenging for shippers.

Persons: Eric Adams, Spencer Platt, Biden, Paul Brashier, Brashier, Jose Luis Gonzalez, Mirko Woitzik, Lloyd, Hermann Schulte, Port, Harold Daggett, Daggett, Stew Leonard, Jr, Stew Leonard's, Leonard, Brandon Daniels, Daniels, Christian Roeloffs Organizations: International Longshoremen’s Association, ILA, Getty, International Longshoremen's Association, United States Maritime Alliance, ITS Logistics, CNBC, Trucking, Port, Portsmouth, Reuters, Dresden, Turkey East Coast Express Service, America, Schulte Group, MSC, USMX, Local, Virginia International, Walmart, Depot, Folgers Company, Nike, Container, Analytics Locations: Brooklyn, Brooklyn , New York, Gulf Coast, Savannah, Port of Norfolk, Virginia, Portsmouth , Virginia, U.S, Vizion, East Coast, Port of Norfolk , Virginia, Savannah , Georgia, Egypt, America, Charleston, Port, Freeport, Bahamas, Cristobal, Port of New York, New Jersey, Halifax, Canada, Newark, New York City, New York, Savannah , Norfolk, West Coast, demurrage, China, Israel

☆ Supply chain disruptions could benefit these stocks, Goldman Sachs says
▼ + stars: | 2024-10-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Trade tensions, too, have resulted in tariffs and affected world trade in certain goods. The market for companies in this space is driven by the volume of global trade, and this so-called supply chain "complexity," Goldman noted. It sees some stocks as being able to benefit from higher supply chain "complexity." Freight-forwarding firms such as DSV , DHL Forwarding and Kuehne+Nagel are "well-placed to help their clients navigate higher complexity and shocks," Goldman said. Container lines such as Cosco, Maersk and Hapag-Lloyd are less directly exposed to the higher supply chain complexity, said Goldman.

Persons: Goldman Sachs, Goldman, deglobalization, Nagel, Lloyd, — CNBC's Michael Bloom Organizations: U.S ., Logistics & Shipping, Logistics, DHL, Goldman, Express, Fedex, UPS, Maersk, Hapag Locations: U.S . East Coast, Gulf Coast

☆ Tesla to recall over 27,000 Cybertruck vehicles over rear-view image delay
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +1 min

New Tesla Cybertruck vehicles parked at a logistics drop zone in Seattle, Washington, US, on Thursday, Aug. 22, 2024. Tesla said on Thursday it would recall most Cybertrucks in the U.S. due to delayed rear-view camera images that could impair driver visibility and increase crash risks, adding that a software update would resolve the issue. The recall covers more than 27,000 Cybertrucks, Tesla said in a report filed with the U.S. National Highway Traffic Safety Administration. The Cybertruck's system in the affected vehicles may not complete a shutdown process before it is commanded to boot up, resulting in a delay in displaying the rear-view image, Tesla said. Tesla earlier this year recalled most Cybertrucks in the U.S. over issues with their windshield wipers and exterior trim.

Persons: Tesla Organizations: Tesla, U.S . National, Traffic Safety Administration Locations: Seattle , Washington, US, U.S

☆ Panic buying amid U.S. ports strike is creating supermarket supply concerns
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

There is no need for panic buying, and we encourage consumers to shop responsibly. Bill Simon, former CEO of Walmart, stressed that panic buying is serious and can have a cascading effect on domestic products. "Panic buying not only impacts the availability of imported products, but domestic products as well as consumers shift their purchase behavior," warned Simon. Walmart and Target did not immediately respond to requests about any panic buying patterns identified at their stores. John Catsimatidis, owner of the NYC super chain Gristedes, said the panic buying is occurring and showing no signs of slowing down.

Persons: Stew Leonard, Jr, Stew Leonard's, restocked, Bill Simon, Simon, John Catsimatidis Organizations: CNBC, Gulf Coasts, National Grocers Association, —, of Commerce, East, National Retail Federation, Walmart, Target, NYC Locations: Gulf Coast, East Coast, Gulf, United States, U.S, Canada, Mexico, East

☆ A trio of crises threatens to upend the race 5 weeks before Election Day
▼ + stars: | 2024-10-03 | by ( Alice Tecotzky | Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

A trio of emergencies has all struck just five weeks ahead of the 2024 presidential election. Both Donald Trump and Kamala Harris will be forced to reckon with the crises in the final days of their campaigns. AdvertisementViolence in the Middle East, a massive labor strike among East Coast and Gulf Coast dockworkers, and the devastation of Hurricane Helene all struck with only five weeks before the 2024 presidential election. "What we've seen out of Vice President Harris is we've seen steady leadership," he said when talking about the Middle East. What matters most now is how the candidates' messaging lands with specific communities impacted by these crises, Loge said.

Persons: Hurricane Helene, Donald Trump, Kamala Harris, —, Israel, Peter Loge, David Jones, Trump, Joe Biden, Randall Adkins, Adkins, Loge, it's, Sen, JD Vance, Tim Walz, Vance, Harris, Walz, Biden, she's, BRYAN R, SMITH, Jones, Grace Cary, Helene Organizations: Service, East, School of Media, Public Affairs, George Washington University, Baruch College, City University of New, Trump, University of Nebraska, Gov, Logistics, JPMorgan, Getty, Biden Locations: Hurricane, East Coast, Gulf Coast, East, Middle, Iran, Israel, Lebanon, Tehran, City University of New York, University of Nebraska Omaha, American, Arizona, Georgia, Wisconsin, North Carolina, Michigan

☆ China’s Coast Guard claims to have entered the Arctic Ocean for the first time as it ramps up security ties with Russia
▼ + stars: | 2024-10-03 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

The statement came a day after the US Coast Guard said it spotted four vessels from the Russian Border Guard and Chinese Coast Guard in the Bering Sea – the “northernmost” location it said it had ever observed the Chinese ships. A banner visible on one of the vessels in accompanying photos read “China Coast Guard devoting its heart to the Party; demonstrating loyalty in the Arctic Ocean,” referring to China’s ruling Communist Party. The US Coast Guard (USCG) on Monday said it spotted the four vessels from the Russian Border Guard and Chinese Coast Guard “transiting in formation in a northeast direction” in the Bering Sea, some five miles inside Russia’s Exclusive Economic Zone on Saturday. A China Coast Guard member pictured during recent joint drills with Russia. The coast guard collaboration “relates to Chinese interests in maritime transportation along at least parts of the Northern Sea Route,” according to Østhagen.

Persons: Russia –, China’s, ”, Megan Dean, irked, Carl Schuster, it’s, –, Sophie Arts, ” Andreas Østhagen Organizations: Hong Kong CNN, China’s Coast Guard, US Coast Guard, Russian Border Guard, Chinese Coast Guard, China Coast Guard, Communist Party, CCTV, TASS, 17th Coast Guard District, USCG, Canadian, Russia’s Federal Security Service, East China, Coast Guard, Guard, US Navy, Pacific Command’s Joint Intelligence Center, China, US Department of Defense, German Marshall Fund, Fridtjof Nansen Institute, CNN, Armed Police, Central Military Commission, Centre for High North Logistics, Norway’s Nord University Locations: Hong Kong, Russia, Beijing, ”, Bering, Alaska, Asia, North America, China, Washington, South, East, irked Beijing, Ukraine, Russian, Norway, South China, Philippines, Europe

☆ I've planned weddings on mountains and seen million-dollar gowns, but that's not what young couples are spending more on
▼ + stars: | 2024-10-03 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +6 min

Lelian Chew is the founder of The Atelier & Co, a Singapore-based luxury wedding planning company. She has handled luxury weddings with extravagant destinations and million-dollar gowns. AdvertisementThis as-told-to essay is based on a conversation with Lelian Chew, a luxury wedding planner in Asia. I launched my events planning business, The Atelier & Co, in 2013, planning luxury events and weddings for some of the biggest families in Asia. AdvertisementIn recent years, I've noticed a shift in Asian weddings whereby younger generations emphasize upholding traditions in their weddings.

Persons: Chew, —, Lelian Chew, they've, it's, I've, We've, It's Organizations: Service, Entertainment Locations: Singapore, Asia, Maldives, Yunnan, China, Como, France

☆ Amazon could cut 14,000 managers soon and save $3 billion a year, according to Morgan Stanley
▼ + stars: | 2024-10-03 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Morgan Stanley estimates Amazon can cut 13,834 managers and save roughly $3 billion next year. Morgan Stanley assumed that the cost per manager was $200,000 to $350,000 a year. Based on those numbers, Amazon would stand to save $2.1 billion to $3.6 billion next year if it cut those 13,834 manager roles. Morgan Stanley estimated that the savings would account for roughly 3% to 5% of Amazon's projected operating profit for 2025. AdvertisementStill, Morgan Stanley sees a huge opportunity for Amazon to make itself more efficient with these big moves.

Persons: Morgan Stanley, Andy Jassy, —, Jassy, Morgan Organizations: Service, Amazon, Business

☆ Auto giants are getting nervous about the prospect of mega fines as EV demand falters
▼ + stars: | 2024-10-03 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Cfoto | Future Publishing | Getty ImagesEurope's top car giants appear to be increasingly concerned about the prospect of massive fines, particularly as electric vehicle demand falters ahead of the next tightening of carbon regulations. "The fines are massive actually. "Manufacturers are pretty much focused on conventional hybrids and ICE vehicles because they are much more profitable," ING's Luman said. Pooling refers to the process in which car manufacturers team up to be considered as one entity when calculating their performance against a CO2 emissions target. Not everyone is convinced that the sales challenge that Europe's car industry faces constitutes an industry-wide crisis.

Persons: Rico Luman, Europe's carmakers, Luman, Luca de Meo, ACEA, Tim McPhie, McPhie, ING's Luman, Sean Gallup, Xavier Demeulenaere, Demeulenaere, Brandon Bell Organizations: Volkswagen, ING, CNBC, videoconference, Renault, EV, Reuters, European Automobile Manufacturers ' Association, BMW, Ferrari, Volvo, European Commission, Ford, Benz Group, Manufacturers, Getty, P Global Mobility, Transport, Environment, Hill Locations: Anhui, Hefei, China, Europe, ACEA, Weissenfels, Germany, Austin , Texas

KYIV, Ukraine — Russian troops on Wednesday took charge of the eastern Ukrainian town of Vuhledar, a bastion that had resisted intense attacks since Russia launched its full-scale assault in 2022. Russian Telegram channels, however, published video of troops waving the Russian tricolor flag over shattered buildings. Russia has been using pincer tactics to trap and then constrict Ukrainian strongholds. Russian bloggers said Russia could now try to push towards Velyka Novosilka, just over 20 miles to the west. Russian forces currently control 98.5% of the Luhansk region and 60% of the Donetsk region.

Persons: Vladimir Putin, Ukrainsk, Novosilka Organizations: Russian, 72nd Mechanized Brigade, Facebook, Russian Telegram, Vuhledar, Armed Forces of Locations: KYIV, Ukraine, Ukrainian, Vuhledar, Russia, Donetsk, Luhansk, Moscow, Russian, Kyiv, Crimea, Russia’s Kursk, Pokrovsk, “, Armed Forces of Ukraine

☆ The East and Gulf Coast ports strike could be a no-win situation for the Biden administration
▼ + stars: | 2024-10-02 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

President Biden said on Tuesday that his administration will be "monitoring for any price gouging activity" that benefits foreign ocean carriers, including those on the USMX board. He also said "foreign ocean carriers have made record profits since the pandemic, when Longshoremen put themselves at risk to keep ports open." UBS forecast that 20% of Maersk's total volume would touch a U.S. port that would be impacted by the strike. Acting Secretary Julie Su lashed out at the idea that labor wage increases would be passed onto U.S. exporters and importers. I know they understand, just as consumers and American workers understand, that foreign companies who profit from our economy and who employ American workers and have an impact on American consumers should do the right thing, and in that battle, we are always going to stand with American workers, American businesses and American consumers."

Persons: Biden, Longshoremen, majeure, Daggett, Harold Daggett, Lars Jenson, Pete Buttigieg, Julie Su, Taft, Hartley, Buttigieg, Larry Lindsey, Su, Peter Friedmann, I've, nonfarm, Helene, switchers, they're, Jim Bianco, CNBC's, Peter Boockvar, Alan Baer, Steve Lamar, Taft Hartley, Lamar, CNBC's Jeff Cox Organizations: CMA, U.S, United States Maritime Alliance, Vespucci, Federal Reserve, Transportation, Labor, International Longshoremen's Association, UBS, Maersk, Federal Maritime Commission, ILA, Boeing, The Lindsey Group, Agriculture Transportation Coalition, Bianco Research, Bleakley Financial, USA, American Apparel and Footwear Association, Biden Administration, — Locations: East, Gulf Coast, U.S, autoworkers

☆ Tesla stock slips after EV maker misses estimates on deliveries
▼ + stars: | 2024-10-02 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

In the year-ago period , Tesla reported 435,059 deliveries and production of 430,488 EVs. Last quarter, the company reported 443,956 deliveries, and production of 410,831 vehicles. Deliveries are not defined in Tesla's financial disclosures, but are the closest approximation to units sold reported by the company. Analysts were expecting deliveries of 463,310 in the period ended Sept. 30, according to estimates compiled by FactSet StreetAccount. Tesla posted its third-quarter vehicle production and deliveries report on Wednesday.

Persons: Tesla, Li Auto, FactSet StreetAccount, Ford, Tesla hasn't, Elon Musk, Donald Trump, Musk Organizations: Li, Tesla, EV, Ford, General Motors, GM, Nasdaq, Hyundai Locations: China, Seattle , Washington, US, U.S

It also raised its price target to $210 from $187, suggesting shares could rise more than 17% from Tuesday's close. He maintained his $2,400 price target, which implies 16.2% upside potential from Tuesday's close. Bank of America's Lorraine Hutchinson reiterated her buy rating while trimming her price target to $100 from $104. Deutsche Bank analyst Krisztina Katai also maintained her buy rating and inched down her price target by $3 to $92. He also lowered his price target on shares to $40 from $42, implying upside of just 5.2% over the next 12 months.

Persons: Baird, Davidson, Raymond James, Pavel Molchanov, Molchanov, — Hakyung Kim, FANG, Betty Jiang, Jiang, Diamondback, John Pancari, Pancari, Marcelo Santos, Santos, LatAm, Santo, Elliott Hill, Bank of America's Lorraine Hutchinson, Hutchinson, Krisztina Katai, Katai, Matthew Boss, Boss, Baird downgrades Harley, Craig Kennison, Harley, Kennison, Fred Imbert Organizations: CNBC, GE, General Electric, Barclays, Diamondback, Diamondback Energy, Endeavor, Endeavor Energy Resources, Management, T, T Bank, Federal Reserve, ISI, EA, JPMorgan downgrades, JPMorgan, MercadoLibre, Nike, Bank of, Deutsche Bank, Harley Locations: Tuesday's, Bank of America's, Hill

☆ Russia appears to have seized a strategic Ukrainian town after almost 2 years of trying
▼ + stars: | 2024-10-02 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +5 min

Russia appears to have finally seized Vuhledar, a key frontline town in eastern Ukraine. AdvertisementRussia appears to have gained control over a key Ukrainian frontline town, military experts said, as the town's governor described a difficult situation for Ukraine there. Citing open sources and pro-Russian military bloggers, the Institute for the Study of War said that as of Tuesday, "Russian forces likely seized Vuhledar." Russian forces have been seen moving freely about the town and planting flags there, the ISW reported. Advertisement"It is unclear if Russian forces will make rapid gains beyond Vuhledar in the immediate future," the think tank added.

Persons: Vuhledar, —, Vadym Filashkin, Filashkin, Vladimir Putin, Federico Borsari Organizations: Service, Institute for, Kyiv Post, —, Ukrainian Armed Forces, Reuters, Human Rights, Politico, 155th Naval Infantry Brigade, Kyiv Independent, Center for Locations: Russia, Ukraine, Ukrainian, Russian, Vuhledar's, Ukraine's, Donetsk, Kyiv, Moscow, Donetsk Oblast, Vuhledar, Pokrovsk

☆ Ukraine: Russians capture strategic town of Vuhledar in yet another blow for Kyiv
▼ + stars: | 2024-10-02 | by ( Clare Sebastian | ) edition.cnn.com time to read: +4 min

CNN —Russia has captured the key eastern Ukrainian town of Vuhledar, ending months of resistance and underscoring the scale of Kyiv’s challenge as it heads into its third wartime winter. While not a transport and logistics hub like Pokrovsk, Vuhledar was heavily fortified and viewed as a crucial bastion at the intersection of Ukraine’s eastern and southern fronts. Just like Avdiivka, another strategic eastern town which fell in February, Vuhledar is a victim, not of Russian strategic prowess, but brute force attrition. For two years Ukraine had put up a formidable defense there, as Russia tried and failed several times to take the town. “It’s painful, Vuhledar or rather those who settled there, drank a lot of blood,” he said.

Persons: Vladimir Putin, Zelensky, Joe Biden, Vuhledar, Boris Rozhin, ”, Voenkor Kotenok, “, Stanislav Buniatov Organizations: CNN, Kremlin, NATO, ABC, International Energy Agency Locations: Russia, Ukrainian, Vuhledar, Pokrovsk, Russian, Donetsk, Ukraine, Kyiv, Kursk, Kharkiv, It’s

☆ The US port strike isn't just hitting imports. America's farmers could be hurt, too.
▼ + stars: | 2024-10-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The US port strike on the East and Gulf Coasts could threaten farm exports amid harvest season. AdvertisementThe US port strike at East and Gulf Coast ports isn't just impacting bananas and consumer imports into the country — it could hurt America's farm exports too. Seyfert told Politico on Friday that while some farm exports can be moved to the West Coast for shipping, there's probably not enough capacity there. "A prolonged strike would force importers to seek alternative supplies, either from West Coast ports or other countries," wrote Glauber. AdvertisementLogistics experts told Business Insider's Tim Paradis that the port strike could damage the US economy badly.

Persons: Joe Biden, —, Mike Seyfert, Seyfert, Joseph Glauber, Tim Paradis, Biden Organizations: Association, Service, White, Politico, Food Policy Research Institute, Logistics, United States Maritime Alliance, International Longshoremen's Association Locations: Gulf, East, Gulf Coast, West Coast, Mexico

Israel launches a ground operation in Lebanon. North Carolina residents raise questions over disaster responseNorth Carolina residents are only beginning to pick up the pieces after Helene roared through the western part of the state, causing devastating flooding and catastrophic damage. At least 49 people have died and dozens of others are missing in western North Carolina, which includes hard-hit Asheville. But some North Carolina residents are criticizing what they view as a lack of preparation for the storm. In recent weeks, Israel has launched attacks using exploding pagers and walkie talkies, unleashed heavy bombings in Lebanon and killed longtime Hezbollah leader Hassan Nasrallah.

Persons: Vance, Tim Walz, Helene, Roy Cooper, ”, Deanne Criswell, Sara Legatski, “, Hassan Nasrallah, Read, Sen, JD Vance, Donald Trump’s, Walz, Kamala Harris ’, Vance’s, —, Biden, Harris, longshoremen, Carter, Jimmy Carter, Claudia Sheinbuam, Pete Rose, League Baseball’s, Sing, Jon, Adrian Velazquez, Gadiel del Orbe, del Orbe, — Sandra Lilley, Elizabeth Robinson Organizations: NBC, Asheville . North Carolina Gov, FEMA, Spokespeople, Reuters, AFP, Getty Israel, Lebanon's, Israel Defense Forces, Minnesota Gov, CBS, Getty, Vance’s Yale Law, Democratic Party, International Longshoremen’s Association, United States Maritime Alliance, Workers, League, Sing Sing, del, Vanderbilt University Locations: Asheville , North Carolina, Israel, Lebanon, North Carolina, Carolina, Asheville ., Asheville, Florida, Buncombe County, didn’t, Beirut, Ohio, New York, Springfield , Ohio, East Coast, Gulf Coast, Georgia, NYPD, Kentucky, Spain

Trucking and other logistics companies are racing to get as many goods as possible out of ports before a potential strike. The vast port operations of New York and New Jersey stand to be most affected, with about 4,500 workers in the region. Kathy Hochul said that her state and the Port Authority of New York and New Jersey have been anticipating the strike but warned of potential impacts. Under that authority, Biden could seek a so-called 80-day "cooling-off period" that would force dockworkers to stay on the job. But while the White House has been in touch with the ILA and USMX in recent days, the president is not looking to invoke the law.

Persons: USMX, Kathy Hochul, We’re, Joe Biden, Taft, Hartley, Biden, dockworkers, Kamala Harris, Donald Trump, ” Biden Organizations: ILA, CNBC, Ocean Carriers, ILA Longshore, New York Gov, Port Authority of New, White, USMX, Democratic, Republican Locations: New York, New Jersey, Port Authority of New York, Taft

☆ East and Gulf Coast ports strike, with ILA longshoremen walking off job from New England to Texas, stranding billions in trade
▼ + stars: | 2024-10-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

Shipping containers sit stacked in the Port of Newark on September 30, 2024 seen from New York City. Billions in trade came to a screeching halt at U.S. East Coast and Gulf Coast ports after members of the International Longshoremen's Association (ILA) began walking off the job after 12:01 a.m. In a video posted to an ILA Instagram account, Daggett addressed union workers at Maher Terminals in Elizabeth, New Jersey. "Helene caused ports to delay openings at the ports of Charleston and Savannah, as well as power losses at intermodal facilities in Savannah, Charleston, and Atlanta," said Wray. Both economists and logistics executives say the impact of the strike depends on how long the work stoppage lasts.

Persons: Kathy Hochul, Harold Daggett, —, Daggett, Shana Wray, Hurricane Helene, Helene, Wray, Adam Kamins, Kamins Organizations: Gulf, International Longshoremen’s Association, United States Maritime Alliance, International Longshoremen's Association, ILA, Port Authority of New, Maher, CNBC, Logistics, Moody's, Federal Reserve Locations: Port, Newark, New York City, East, U.S, East Coast, Gulf Coast, New York, New Jersey, Boston , New York, Philadelphia, Wilmington , North Carolina, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa , Miami , New Orleans, Mobile, Houston . New, Maine, Texas, Port Authority of New York, Elizabeth , New Jersey, Hurricane, Savannah , Charleston, Atlanta, Gulf, West Coast

☆ Satellite images capture Russia's scramble to shield a key bridge from Ukraine's exploding naval drones and other threats
▼ + stars: | 2024-10-01 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

New satellite imagery shows how Russia has continued to add defenses to protect the Kerch Bridge. AdvertisementNew satellite imagery shows how Russia has stepped up its efforts to protect a key bridge from Ukrainian attacks, including its exploding naval drones. An overview of barriers near the Kerch Bridge on September 28. The threat has prompted Moscow to add defenses like the ones at the Kerch Bridge to the key ports of Sevastopol and Novorossiysk. A second Pantsir air-defense system on a tower near the Kerch Bridge on September 28.

Persons: —, Brady Africk, Maxar, Vladimir Putin Organizations: Service, Maxar Technologies, Business, Technologies, Fleet, American Enterprise Institute, Ukrainian Navy Locations: Russia, Kerch, Crimean, Crimea, Ukraine, Moscow, Sevastopol, Novorossiysk, Brady, Kyiv

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