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☆ Red Sea crisis: Why escalating violence in the Middle East isn’t pushing up gas prices
▼ + stars: | 2024-01-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

The prices of a barrel of Brent crude, the global oil benchmark, and West Texas Intermediate, the US oil benchmark, have barely moved. Now, however, analysts say economic factors — weaker demand in countries such as China and Germany, ample oil and gas supply — are superseding concerns about violence in the Middle East. Al Drago/Bloomberg/Getty ImagesGlobal oil demand growth is expected to almost halve this year, the International Energy Agency said in a report Thursday. At the same time, global oil supply is forecast to hit an all-time high, driven by record output from countries including the United States and Canada, the IEA said. Nan said relatively modest demand was also helping to prevent spikes in gas prices.

Persons: Brent, “, Homayoun, “ It’s, ”, Hope, Al Drago, That’s, Falakshahi, Xi Nan, Kpler, Wood Mackenzie, Nan Organizations: London CNN, Hamas, West Texas Intermediate, AAA, CNN, National Bureau of Statistics, Bloomberg, Getty, International Energy Agency, Organization of, Petroleum, Rystad Energy, Gas Infrastructure, LNG “ Locations: Red, Iran, Pakistan, Gaza, Ukraine, China, Germany, South Africa, Washington , DC, United States, Canada, Russia, OPEC, Europe, wean, Gas Infrastructure Europe, Africa, Qatar, United Kingdom

☆ Falling Domestic Fares and an A.I. Arms Race: What Travelers Can Expect in 2024
▼ + stars: | 2024-01-18 | by ( Christine Chung | ) www.nytimes.com time to read: +21 min

Arms Race: What Travelers Can Expect in 2024 At the start of what promises to be a very busy year, we look ahead at what you’re likely to encounter. With 2023 in the rearview mirror, we look ahead at what travelers will face in 2024. At United Airlines, for example, smarter software can offer rebooking options and issue food and lodging vouchers when a flight is canceled, rather than just rebooking a flight. United Airlines has suspended its flights indefinitely, said Josh Freed, a United spokesman. This year, travelers are expected to choose faraway places and board small ships, according to Virtuoso, the consortium of luxury travel agencies.

Persons: Chanelle, Hayley Berg, ” Ms, Berg, “, Robert W, Mann Jr, ”, Chad Burt, Oren Etzioni, Gilbert Ott, Hopper, Greg Forbes, Delta’s, Neville Pattinson, Mr, Pattinson, biometrics, Laura Lindsay, Joshua Smith, Smith, Laurel Brunvoll, Michael Zeiler, Airbnb, We’ve, Jamie Lane, ‘, ’ ”, Jan Freitag, “ We’ve, David Whiteside, Brian Kelly, Guy, Leigh Rowan, “ There’s, Kelly, Rowan, ” Mr, James Thornton, Sharm el Sheikh, Khaled Ibrahim, Harry Rubenstein, Rubenstein, Eyal Carlin, Josh Freed, Jack Ezon, Tom Marchant, Beth McGroarty Organizations: World Tourism Organization, International Air Transport Association, Analysts, Express Global, ”, airfare, University of Washington, United Airlines, Transportation, Administration, Salt Lake, International Airport, Denver International Airport, Delta Air Lines, U.S . Customs, Border Protection, La Guardia Airport, Los Angeles International Airport, biometrics, Thales, Air, American Airlines, Global, “, —, MidX Studios, LivSmart Studios, Hilton, Hyatt Studios, Accor Hotels, Boston University, Visa, Mastercard, Walmart, Target, Savanti, Chase, Intrepid Travel, Amisol Travel, East Travel Alliance, United, Consumers, Ki’ama, Wellness, Global Wellness Institute Locations: United States, Point.me, Salt, North America, London, Rome, Tokyo, Cancún, Las Vegas, Cayman Islands, Polynesia, Europe, Norway, Denmark, Air Canada, Bergen, Flam, Scandinavia, Italy, France, Malta, Slovenia, Maryland, Spain, Portugal, Britain, Egypt, India, Mexico ; Cape Girardeau, Mo, Niagara Falls, N.Y . Texas, Burnet, Sulphur Springs, New York, Vienna, Marriott, Israel, Jordan, Oman, Oman —, Tunisia, Northern Africa, Sharm, Cairo, Amisol Travel Egypt, Jerusalem, Tel Aviv, Ramle, Kimberley, Western Australia, Mitre, Patagonia, Ki’ama Bahamas, Bahamas, South Africa, Hudson, Tuxedo Park, N.Y, Malibu , Calif, Mexico

☆ Investing in Space: Pentagon's satellite constellation awards near $10 billion
▼ + stars: | 2024-01-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +11 min

Now we're pushing $10 billion in awards, to build more than 400 satellites, with seven companies in the mix. York Space has been tapped to make more satellites than anyone but Northrop Grumman, to the tune of $1.3 billion. – The Wall Street Journal / Deere Hyperspectral satellite imagery company Pixxel opens Bengaluru facility, a 30,000-square-foot facility in India for satellite manufacturing. – KeyBancBoldly goingKurt Vogel named as NASA associate administrator for the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency. – NASAfor the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency.

Persons: Yasin Ozturk, CNBC's Michael Sheetz, – Northrop, Lockheed Martin, L3Harris, Northrop Grumman, you've, Momentus, John Plumb, –, Artemis, – SpacePolicyOnline, Tom Mueller's, Redwire, KeyBanc, Kurt Vogel, Chiara Pedersoli, Marco Fuchs, – OHB, – OHB Frank Di Pentino Organizations: SpaceX, . Space Force, Cape Canaveral Space Force, Anadolu Agency, Getty, Space Force, Space Development Agency, – Northrop Grumman, Lockheed, York, Space, Lab, Sierra Space, CNBC, CNBC NASA, Boeing, NASA, NASA ESA, Science, Technology, Industry, ISS, – NASA SpaceX, Deere, Street, Deere Deere, KKR Locations: Cape, Florida, United States, U.S, Brazil, Bengaluru, India

☆ Red Sea attacks already bigger issue for supply chain than pandemic, maritime advisory warns
▼ + stars: | 2024-01-18 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

The strikes are a response to attacks on the Red Sea, adding complexity to the regional conflict originating from Israel's Gaza war. With that exception, "This [the Red Sea crisis] is the largest single event – even larger than the early pandemic impact," Murphy said. Sea-Intelligence analyzed current vessel delays compared to delays over the last several years in a report for clients. A leading ocean supply chain advisory firm is warning that the disruptions to shipping from the Houthi rebel attacks in the Red Sea are already more damaging to the supply chain impact than the early Covid-19 pandemic. "Threats to Red Sea shipping are a threat to maritime commerce worldwide," said Steve Lamar, CEO of the American Apparel and Footwear Association.

Persons: Luis Boza, Alan Murphy, Murphy, Hope, Steve Lamar Organizations: Getty, Intelligence, MSC, Volvo, Michelin, Ikea, American Apparel and Footwear Association, Logistics, CNBC Locations: Lisbon, Portugal, U.S, Yemen, Red, Gaza, Suez, Good Hope, Europe, United States, Asia

☆ Air freight rates could spike as Red Sea attacks disrupt shipments via sea
▼ + stars: | 2024-01-17 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

DHL Cargo planes are unloaded at Halle-Leipzig Airport on February 28, 2014 in Leipzig, Germany. Up to 60 cargo planes land every weeknight. The Houthi attacks in the Red Sea are not only driving up sea freight — air freights are going to get higher too, as global trade flows get increasingly disrupted. This means that air cargo is about to play an expanded role in the supply chain ecosystem. Air freight can slash delivery times to just a few days compared to weeks taken by ocean carriers.

Persons: Matthew Burgess, Robinson Organizations: DHL Cargo, Airport Locations: Halle, Leipzig, Germany, South Africa, C.H

☆ Namibia stuns Tunisia to secure first ever AFCON victory
▼ + stars: | 2024-01-17 | by ( Matias Grez | ) edition.cnn.com time to read: +1 min

CNN —Namibia produced a historic upset to beat Tunisia 1-0 on Tuesday and record its first ever Africa Cup of Nations (AFCON) victory. Appearing in its fourth AFCON, Namibia had failed to win any of its previous nine finals matches, losing seven and drawing two. Tunisia, the 2004 AFCON champion, is the No. 2 seed Mali, with anything less than a victory likely plunging its qualification into doubt, while a buoyant Namibia faces South Africa. Wednesday’s Group E matches between Morocco and Tanzania and DR Congo and Zambia are the final two opening round fixtures to take place.

Persons: Deon Hotto, Mo Salah, Fadel Senna Organizations: CNN, Tunisia, Africa, of Nations, Ghana, Mozambique, Getty, Wednesday’s, DR Locations: Namibia, Tunisia, Ivory Coast, Cape Verde, Sunday, Egypt, Algeria, Cameroon, Nigeria, Mali, South Africa, AFP, Morocco, Tanzania, DR Congo, Zambia

☆ Fears of prolonged Red Sea shipping crisis fuel inflation fears, as oil, retail cargo delays rise
▼ + stars: | 2024-01-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

"If so, we expect the soaring freight rates and equipment shortage will continue till the third quarter," it advised clients. This would be on top of the revenue lost by diverted container vessels which are required to pay between $500,000-$600,000 per transit. "However, given the longer transit times vessels are experiencing, the market may face a shortage of empties across Asia until sailings normalize." Evelyn Fornes, Home Depot spokeswoman, said it is working with logistics carriers to find alternate routes to limit any impact from the Red Sea conflict. East Coast freight rates soar While freight rates for U.S. West Coast ports have yet to spike, freight rates for the East Coast and Gulf are up.

Persons: Folden, Shell, Jean, Charles Gordon, Nyttingnes, Torm, Euronav, Tom, Hafnia, Andy Lipow, Kuehn, Nagel, Ami Daniel, Goetz Alebrand, Stephen Schwarz, Paolo Montrone, Kuehn + Nagel, Alan Baer, Baer, Evelyn Fornes, Fornes, Lane Organizations: Galaxy, Houthis Media, Getty Images, Anadolu, Getty, U.S, Clarksons Securities, Honour Lane Shipping, Wall Street, Shell, Suez, Authority, Lipow Oil Associates, Logistics, CNBC, DHL Global, Asia Pacific, Kuehn, USA, Home, Costco, Walmart, Home Depot, Volvo, Michelin, Ikea, East, U.S . Locations: Iran, Yemen, Anadolu, Hafnia, Ardmore, Suez, Israel, Americas, Asia, Europe, Wells Fargo, Red, U.S, East Coast, U.S . West Coast, Gulf, East, West, West Coast

Lower courts used the decision to uphold a 2020 National Marine Fisheries Service rule that herring fishermen pay for monitors who track their fish intake. A group of commercial fishermen appealed the decision to the Supreme Court. They lost in the lower courts, which relied on the Chevron decision to sustain the regulation. The Supreme Court itself hasn't invoked the Chevron decision since Trump's justices began arriving on the court in 2017, the first year of the Republican's administration. ___Follow the AP's coverage of the U.S. Supreme Court at https://apnews.com/hub/us-supreme-court.

Persons: Donald Trump, ”, Mark Chenoweth, Koch, it’s “, David Doniger, Doniger, — Clarence Thomas, Samuel Alito, Neil Gorsuch, Brett Kavanaugh —, Ryan Mulvey, “, Leif Axelsson, Axelsson, he’d, John Paul Stevens, ” Stevens, Sandra Day O'Connor, hasn't, Paul Clement, ” Clement Organizations: WASHINGTON, — Business, Marine Fisheries Service, Supreme, Chevron, New Civil Liberties Alliance, Natural Resources Defense, American Cancer Society, ”, Trump, Action Institute, Fishermen, U.S Locations: Rhode Island, Cape May , New Jersey, Coast, Cape

☆ Ayo Edebiri: Why ‘The Bear’ star is ruling the red carpet
▼ + stars: | 2024-01-16 | by ( Nicole Mowbray | ) edition.cnn.com time to read: +4 min

CNN —The breakout star of hit series “The Bear,” has proven that her ability to dazzle extends well beyond the screen. Over the last two weeks, Ayo Edebiri has taken home a Golden Globe, a Critics’ Choice award and a Primetime Emmy for her portrayal of Sydney Adamu — swapping her chef’s whites for some seriously good red carpet looks. The 28-year-old, Boston-born actor has been bringing joy to the red carpet for a couple of years now, with her adventurous approach to red carpet dressing. Neilson Barnard/Getty ImagesThe Critics Choice Awards on January 14, 2024, called for a white suit by The Row. Amy Sussman/WireImage/Getty ImagesIn Thom Browne, one of Ayo Edebiri's labels of choice, this time with a train at the Critics Choice Awards on January 15, 2023.

Persons: ”, Ayo Edebiri, Sydney Adamu —, Danielle Goldberg —, Mary, Kate, Ashley Olsen —, Kaia Gerber, Olivia Rodrigo, Greta Lee, Thom Browne, Loewe, ” Edebiri, “, that’s, Edebiri, Louis Vuitton, Neilson Barnard, Bauer, Griffin, Versace, Rodin, Steve Granitz, Schouler, Michael Buckner, Dan Doperalski, Dimitrios Kambouris, Valentino, Frazer Harrison, la, —, Amy Sussman, WireImage, Bode, Rosie Assoulin, Giambattista Valli, Mike Coppola, Loewe's, Taylor, Gilbert Flores, suiting Organizations: CNN, Globe, “, W Magazine, Getty, BAFTA Tea Party, Dior Haute Couture, Motion, Arts & Sciences, Variety, Golden Globe, Prada, Lincoln Center, Axelle, Screen, HCA Locations: Boston, Los Angeles, New York

☆ Global shipping recession could end as freight rates soar on Red Sea troubles
▼ + stars: | 2024-01-16 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Stringer | Bloomberg | Getty ImagesVessels transiting the Red Sea have faced attacks over the past several weeks from Yemen-based Houthis, prompting shipping companies to change routes, leading to a spike in freight rates. Alan Baer CEO of OL USAVessel-Operating Common Carriers (VOCC) are ocean carriers that own and operate vessels responsible for managing cargo and transporting them. Luis Boza/ | Nurphoto | Getty ImagesWhile the recent spikes in freight rates might not help shippers relive their glory days following the pandemic, they would substantially boost profitability. Brashier noted that both contracted rates for ocean carriers and spot market rates may rise further. Overall, container freight will still [find it] difficult to manage oversupply issue.

Persons: Stringer, Houthi, Alan Baer, Baer, Luis Boza, Nico Luman, Jefferies, Brashier, Daejin Lee Organizations: Bloomberg, Getty, Houthi, U.S, U.S . Central Command, USA, CNBC, Evergreen, Shipping, Logistics, Head, Research, Fertistream Locations: Suez, Egypt, Yemen, South Africa, Gibraltar, Maersk, Lisbon, Portugal, Asia

☆ 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

CAPE CANAVERAL, Fla. (AP) — A U.S. company’s lunar lander will soon burn up in Earth’s atmosphere after a failed moonshot. Astrobotic Technology said its lander is now headed back toward Earth from the vicinity of the moon. Company officials expect the mission to end Thursday. Political Cartoons View All 253 ImagesNASA paid more than $100 million to fly experiments on the Peregrine lander. Another U.S. company, Intuitive Machines, is up next with its own lunar lander due to launch next month.

Persons: Astrobotic, Peregrine, rocketed, Gene Roddenberry, Arthur C, Clarke Organizations: —, Astrobotic Technology, ., NASA, Cape Canaveral, Peregrine, Carnegie Mellon University, “, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: CAPE CANAVERAL, Fla, U.S, Cape

☆ Qatar Pauses Red Sea Tankers After Western Strikes on Houthis
▼ + stars: | 2024-01-15 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

In the latest shift by a major firm, state-owned QatarEnergy has held at least four LNG tankers back from the Red Sea, a senior source said, adding that production continues. On Monday, carmaker Suzuki said production would halt at its Esztergom plant in Hungary from Jan. 15-21 as the Red Sea attacks had delayed the arrival of Japanese-made engines. U.S. ally Britain said it had no desire to be involved in a Red Sea conflict but was committed to protecting the right of free navigation. The Al Rekayyat, which was sailing back to Qatar, stopped along its route on Jan. 13 in the Red Sea. "It is a pause to get security advice, if passing (through the) Red Sea remains unsafe we will go via the Cape," the source told Reuters on Monday about QatarEnergy.

Persons: Andrew Mills, Maha, Maha El Dahan, QatarEnergy, carmaker Suzuki, Britain, Grant Shapps, Qatar's Al Ghariya, Al Huwaila, Al, Ras Laffan, Al Rekayyat, Maha El, Emily Chow, Sachin Ravikumar, Chandni Shah, Andrew Cawthorne, Catherine Evans Organizations: Houthi, Reuters, Qatari Locations: Maha El, Maha El Dahan DOHA, WASHINGTON, Yemen, Gaza, Saudi, Israel, The U.S, U.S, Esztergom, Hungary, Ras, Suez, Oman, Jan, Qatar, Red, Europe, Asia, Aden, Djibouti, Davos, Singapore, Doha, London, Bengaluru

☆ Tesla to pause German production over Red Sea disruption
▼ + stars: | 2024-01-12 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Tesla plans to pause most production at its only European factory due to supply chain problems caused by attacks in the Red Sea. In recent weeks, Houthi militants, based in Yemen, have ramped up attacks on vessels traveling through the Red Sea, saying they are revenge for Israel’s war against Hamas in Gaza. As a result, six of the world’s 10 biggest shipping companies — namely Maersk, MSC, Hapag-Lloyd, CMA CGM, ZIM and ONE — have been largely or completely avoiding the Red Sea. Volkswagen, Germany’s biggest carmaker, said Friday that its passenger car division did not anticipate “significant” restrictions to production over the situation in the Red Sea, according to Reuters. Economic reverberationsTesla’s decision will amplify fears that a prolonged closure of the Red Sea route — which connects with the vital Suez Canal — will hurt the global economy by snarling supply chains and driving up the prices of goods.

Persons: London CNN — Tesla, Tesla, Joe Biden, Brent, “, ”, Robert Yawger, Matt Egan Organizations: London CNN, CNN, RTL, Maersk, MSC, Lloyd, CMA CGM, Carriers, European Automobile Manufacturers ’ Association, Volvo, Reuters, Volkswagen, Economic, Ikea, Crocs, Container, British, West Texas, Mizuho Securities Locations: Red, Berlin, Europe, Yemen, Gaza, South Africa, Belgium, Suez, British, Drewry, Iran

Tensions in the Red Sea have been increasing for weeks, culminating in air strikes from the U.S. and its allies on Houthi-controlled areas in Yemen early Friday local time. What Has Been Happening in the Red Sea? As of Thursday, the Houthis have launched 27 attacks on ships in the Red Sea and the Gulf of Aden that they claim were linked to Israel. Reactions to the Air StrikesThe Houthis vowed to keep attacking ships in the Red Sea after the airstrikes. Container shipping company Maersk CEO Vincent Clerc told the Financial Times that re-establishing safe passage through the Red Sea could take months.

Persons: Lloyd Austin, “, Joe Biden, Biden, ”, –, Yahya Saree, Nasser Kanaani, Ro Khanna, Chip Roy, Sen, Rick Scott of, Vincent Clerc Organizations: Hamas, U.S, Central Command, Air Force, Houthis, Air, Political, ”, Democrat, Republican, California, Biden, Terrorists, Trade, Container, Maersk, Financial Times, Kiel Institute Locations: U.S, Yemen, Red Sea, Iran, Israel, Austin, United States, Australia, Bahrain, Canada, Denmark, Germany, Netherlands, New Zealand, Republic of Korea, United Kingdom, Red, Sanaa, Saudi Arabia, Middle, Lebanon, Hamas, Gaza, Aden, Gulf of Aden, Brig, British, Texas, Rick Scott of Florida, Europe, Asia, South Africa

☆ Roberto ‘Pico’ Lopes: He ignored a Linkedin message once, but not the second time. When he responded his life changed forever
▼ + stars: | 2024-01-12 | by ( Alasdair Howorth | ) edition.cnn.com time to read: +9 min

I just thought it was a welcome message … so I ignored it.”Fortunately for Lopes, Cape Verde head coach time Rui Águas messaged the Shamrock Rovers defender again nine months later – this time in English – asking if he had considered his offer. Roberto Lopes, who plays for Cape Verde, was born and raised in Dublin. French forward Just Fontaine (L) scores in France's World Cup 5-2 semifinal defeat to Brazil in 1958. France’s captain at the first ever World Cup in 1930 was Algerian-born Alexandre Villaplane. But having recently reversed that policy, the Taifa Stars will have a number of players born outside the continent in its squad for the 2024 tournament.

Persons: CNN —, Roberto “ Pico ” Lopes, Lopes, “, ” Lopes, Rui Águas, Roberto Lopes, Ulrik Pedersen, Mohamed Salah, Lopes won’t, Alexandre Villaplane, Fontaine, Eusébio, Samuel Eto’o, Bryan Mbeumo, Yoane Wissa, ” Wissa, Darren Lewis, Benoît Assou, Ekotto, Ryan Byrne, ”, ‘, ’, Abdoulaye Doucouré, Wilfred Zaha, Les, Patrice Beaumelle, I’ve, I’m, ” Carlos ‘ Caluccha ’ Lopes, Roberto’s, Roberto, “ It’s, he’s, hasn’t Organizations: CNN, Shamrock Rovers, Cape, CNN Sport, Africa, of Nations, LinkedIn, AP, Google, Blue Sharks, Rovers, Professional, Association of Ireland’s, body’s, AFP, Getty, France, UEFA, Benfica, English Premier League, Cameroon soccer, Brentford, Ireland, Democratic, Former Cameroon, Tottenham Hotspur, Lions, League of Ireland Premier Division, Everton, Mali, Ivorian national team, Galatasaray, Cape Verde Locations: Dublin, Republic of Ireland, Cape Verde, Lopes , Cape Verde, Ireland, Egypt, Cape Verde’s, Ghana, Mozambique, Brazil, Africa, Algerian, French, Marrakech, Morocco, Mozambican, Angolan, Portuguese, Portugal, Algeria, Tanzania, Cameroon, Europe, Democratic Republic of Congo, DRC, France, Poland, you’re, Ivory Coast, Cape Verdean, Verdean

☆ The Red Sea attacks appear to be hurting traders and suppliers across the globe — but Russia's oil trade with India is still booming
▼ + stars: | 2024-01-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Russian oil cargoes are still sailing via the Red Sea to get to India, according to S&P Global. Iran-backed Houthi rebels have been attacking commercial ships in the Red Sea since November. Many commercial shipping lines and vessels have rerouted from the Red Sea to avoid getting caught in the attacks. It's not immediately clear why ships carrying Russian oil to India haven't rerouted to avoid potential attacks in the Red Sea. Hardeep Singh Puri, India's petroleum and natural gas minister, said recently that the country is monitoring the situation in the Red Sea.

Persons: —, Lloyd, Sumit Ritolia, It's, Alexander Novak, Hardeep Singh Puri Organizations: P Global, Service, Maersk, Hapag, P, Reuters Locations: India, Iran, Red, Asia, Europe, Cape, South Africa, Moscow, Ukraine, Russia

☆ Red Sea crisis could jeopardize inflation fight as shipping costs spike globally
▼ + stars: | 2024-01-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

In this article HLAG-DEMAERSK.B-DK Follow your favorite stocks CREATE FREE ACCOUNTA ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. Sayed Hassan | Getty ImagesU.S. shipping costs are spiking as attacks in the Red Sea disrupt global trade, raising fears that inflation might pick up again if the disruption persists. But the Red Sea crisis is now having a significant impact further afield with shipping costs between Asia and the U.S also spiking. Shipping rates from North Asia to the U.S. East Coast have jumped 137% to $5,100 for a 40-foot container from early October, according to S&P Global. JPMorgan told clients on Tuesday that the fight against inflation could stall in the coming months if shipping costs push the price of goods higher.

Persons: Sayed Hassan, John Kirby, Kirby, Biden, Chris Rogers, Mark Hopkins, we're, Hopkins, It's, Balika Sonthalia, Sonthalia Organizations: Getty, P Global Market Intelligence, P, U.S ., U.S . East Coast, U.S . West Coast, JPMorgan, Federal Reserve, . National Security, White, Moody's, CNBC, Kearney, The New, The New York Federal, HSBC Locations: Suez, Ismailia, Egypt, South Africa, Asia, Europe, North Asia, Israel, U.S, U.S . East, U.S . West, The New York, Panama

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

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

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

☆ The Epstein story may not be the fantastical conspiracy of blackmail and murder that drew you in. But it is disgusting — and more common than you think.
▼ + stars: | 2024-01-10 | by ( Haven Orecchio-Egresitz | ) www.businessinsider.com time to read: +13 min

In the end, the Jeffrey Epstein sex trafficking case caused international intrigue because of its ties to some of the wealthiest, most high-profile names in the world. AdvertisementBut, in the end, the story of Jeffrey Epstein and his entourage of accusers is not all that uncommon. Donald Trump, Melania Knauss, Jeffrey Epstein, and Ghislaine Maxwell pose together at Mar-a-Lago club, Palm Beach, Florida. Speaking generally, textbook sex trafficking victims have had to live most of their lives like this. Maybe Jeffrey Epstein was assassinated in his jail cell to keep the rich and powerful safe.

Persons: —, Jeffrey Epstein, Peter Nygard, Kelly, NXVIM, Jeffrey Epstein's, James, Gabriel Lopez Albarran, Epstein, Maura Healey, aren't, Stacey Gallagher, Gallager, Virginia Guiffre, Donald Trump, Melania Knauss, Ghislaine Maxwell, Jeffrey, Harvey Weinstein, Maxwell, they're, Michael Caine, Dave Benett, Jacob Shamsian, I've, Ghislaine Organizations: Service, Business, AP, Virgin Islands, vacationland, johns, Mar, Davidoff, FBI, Department of Justice Locations: Little St, Virgin, Cape, vacationland USA, Virginia, Palm Beach , Florida, Palm Beach, West Palm, British, Chelsea, London

☆ Global shipping rates set to jump as carriers avoid the Red Sea amid Houthi attacks
▼ + stars: | 2024-01-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products. British clothing retailer Next recently warned of stock delays as a result of the longer ocean transit. "This creates strong motivations for ocean carrier(s) to increase rate(s) by establishing General Rate Increases (GRIs), Peak Season Surcharge (PSSs), and other contingency or emergency surcharges," the company said. "HLS warned Transpacific freight rates could spike to highs not seen since early 2022, with the Suez Canal route suspended, and the Panama Canal route restricted." Kuehne + Nagel analysts told CNBC that 419 vessels are currently being rerouted due to the Red Sea situation.

Persons: Jon Gold, HLS, Good Hope, Kuehne, Nagel, Franziska Bietke, Mark Rhodes, Rhodes Organizations: Lane Shipping, Ikea, National Retail Federation, CNBC, MSC, U.S ., East, U.S . Shipping Act, Federal Maritime Commission, Kuehne, Logistics, Crane Worldwide Logistics, CNBC PRO Locations: Suez, Ismailia, Egypt, Iran, Red, Africa, Asia, British, West Coast, Panama, U.S . West Coast, East Coast, Gulf of Mexico, South Africa's, Good, Project44, Europe

☆ The New Space Race Is Causing New Pollution Problems
▼ + stars: | 2024-01-09 | by ( Shannon Hall | ) www.nytimes.com time to read: 1 min

The high-altitude chase started over Cape Canaveral on Feb. 17, 2023, when a SpaceX Falcon 9 rocket launched. Thomas Parent, a NASA research pilot, was flying a WB-57 jet when the rocket ascended past the right wing — leaving him mesmerized before he hit the throttle to accelerate. For roughly an hour, Mr. Parent dove in and out of the plume in the rocket’s wake while Tony Casey, the sensor equipment operator aboard the jet, monitored its 17 scientific instruments. Researchers hoped to use the data to prove they could catch a rocket’s plume and eventually characterize the environmental effects of a space launch.

Persons: Thomas Parent, Tony Casey Organizations: Cape Canaveral, SpaceX, NASA Locations: Cape

The US's first lunar lander in decades has met its doom. After launching on Monday, Peregrine Mission One started leaking fuel, Astrobotic said. Peregrine Mission One, a lunar lander built by Astrobotic, started leaking fuel hours after it launched from Cape Canaveral in Florida on Monday. The helium may have put the oxidizer tank under too much pressure, causing it to rupture and create the fuel leak, Astrobotic added. Peregrine Mission One is a nearly 2,900-pound uncrewed lander that carries 20 payloads from seven countries and 16 companies.

Persons: Peregrine, Astrobotic, — Organizations: Peregrine Mission, Service, Grumman, DHL MoonBox, DHL, Peregrine, United Launch Alliance Vulcan Locations: Cape Canaveral, Florida, Hungary, Seychelles

☆ U.S. lunar company's inaugural mission falls short of moon landing after spacecraft malfunction
▼ + stars: | 2024-01-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Astrobotic's Peregrine lunar lander is seen during preparations for launch near NASA's Kennedy Space Center in Florida. Pittsburgh-based Astrobotic's inaugural lunar mission suffered a malfunction shortly after launch, and the company is calling off the landing attempt. It would have been the first U.S. moon landing in more than 50 years. The company suspects the malfunction was a failure within the spacecraft's propulsion system, causing a leak that is quickly draining the vehicle of fuel. However, after activating its propulsion system, Peregrine suffered an issue and began tumbling.

Persons: Astrobotic, Peregrine Organizations: NASA's Kennedy Space Center, NASA Locations: NASA's, Florida . Pittsburgh, U.S, Cape Canaveral , Florida

☆ The US's moon mission now has 'no chance' of landing on the moon after a fuel leak that started hours following the launch
▼ + stars: | 2024-01-09 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +3 min

A spacecraft meant to land on the moon in February has been leaking fuel. The Peregrine lunar lander now lacks the fuel to successfully land on the moon. That means the Peregrine Mission One won't reach its target. AdvertisementThe first private mission to land on the moon is still up for grabsA ULA Vulcan rocket launches into space on Monday, carrying the Peregrine Mission One lunar lander. AstroboticPeregrine launched from Cape Canaveral in Florida on Monday, attempting to be the first private mission to land on the moon.

Persons: —, ULA, Peregrine, Astrobotic Organizations: Service Locations: Cape Canaveral, Florida

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