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☆ 'Volatility could explode': The S&P 500 is ripe for a correction as tensions in the Middle East flare and inflation sticks, experts warn. Here's what to do with your money.
▼ + stars: | 2024-04-17 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Since late October last year, the S&P 500 has risen as much as 27% on strong economic data and excitement about AI. Losses were steepest last week when Iran fired missiles at Israel, exacerbating regional and global tensions. But as more labor market and inflation data has come out, investors now believe a cut is off the table until at least July. The S&P 500 has now dipped below its 20-day moving average, like it did last summer when yields rose above 4.35%. "The VIX, SKEW and Put/Call Ratio all indicate that sophisticated investors are on edge and volatility could explode to 52-week highs in the weeks ahead," Essaye said.

Persons: —, that's, Israel, James Demmert, Demmert, Adam Turnquist, Turnquist, Tom Essaye, Essaye, selloff, Solita, It's, Marcelli, it's Organizations: Service, Business, Brent, Research, Federal Reserve, LPL, MAs, UBS Americas, UBS Global Investment Locations: Iran, Israel, Gaza, Lebanon, Yemen

An AWS spokesperson said in an emailed statement that the company has introduced more cost-effective options for moving data. As of March, AWS had removed Snowmobile from its website, and the Amazon unit has stopped offering the service, CNBC has confirmed. Andy Jassy, now Amazon's CEO, called it the Snowmobile, and said the company would be using the truck to help customers speedily transfer data to Amazon Web Services facilities. "We intend to make sure that Snowmobile is both faster and less expensive than using a network-based data transfer model," Barr wrote. Clients generally find that sending data to AWS online is more economical than using Snowmobile, the company said.

Persons: we've, Andy Jassy, Jassy, Jeff Barr, Barr, Maxar, There's, we're Organizations: AWS, CNBC, Amazon Web Services, Amazon, Microsoft Locations: Las Vegas

☆ The Port of Baltimore was humming along as it handled a record level of cargo in 2023. The collapse of the Key Bridge changed everything.
▼ + stars: | 2024-04-16 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

In 2023, the Port of Baltimore handled a record 52.3 million tons of international cargo valued at nearly $81 billion. But on March 26, the Francis Scott Key Bridge collapsed after the container vessel Dali struck the bridge and sent the 47-year-old structure into the Patapsco River. Moore recently spoke with Business Insider about the collapse of the Key Bridge and the economic impacts of the port's closure. Wes Moore: The port is the largest in the country when it comes to heavy trucks and agricultural equipment. The Key Bridge was a key artery in this region.

Persons: —, Francis Scott Key, Dali, Wes Moore, Moore, John L, Dorman, Joe Biden, Julia Nikhinson, It's, Jerry Jackson, we've, You've, Baltimore Mayor Brandon Scott, We're, Biden, I'm Organizations: Service, Business, US Army Corps of Engineers, Maryland Democratic Gov, Gov, Maryland Gov, AP, Port, Federal, Baltimore Sun, Tribune, Getty, Baltimore Mayor, WM Locations: Port of Baltimore, United States, Port, Baltimore, Patapsco, Ohio, Tennessee, Michigan, United, It's

☆ Rising oil is still the big market risk despite today's pullback, analysts say
▼ + stars: | 2024-04-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Markets kept their cool on Monday amid a fast-moving and volatile geopolitical landscape in the Middle East — but the longer-term risk premium has likely risen, while oil prices remain on edge, analysts said. Iran said it was acting in self-defense in response to a strike on its diplomatic compound in Damascus, Syria, earlier this month. By Monday, global players including the U.S. and European leaders were seeking to cool tensions, urging Israel to show restraint in its response. Sinha nevertheless added that "the fact that we moved from a proxy confrontation to a direct confrontation, even though that de-escalates in the near term, the longer term risk premium probably goes up." "I think the FX market ultimately will take its cue from oil prices because ultimately, that's the channel through which it spills over to the FX market," he said.

Persons: Adarsh Sinha, CNBC's, Sinha Organizations: U.S . Energy Information Administration, U.S, Asia FX, Bank of America, Iranian, FX Locations: Iran, Israel, Damascus, Syria, Strait, Hormuz, Tehran, Asia, U.S

☆ NASA is asking for help to retrieve Mars samples that could be the first evidence of alien life
▼ + stars: | 2024-04-15 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

NASA's Perseverance Mars rover is collecting samples that could be evidence of ancient alien life. But NASA's Mars Sample Return mission to bring them to Earth will now cost $11 billion and take two decades. NASA/JPL-Caltech/ASUNASA's original proposal for the Mars Sample Return is "mind-bendingly complicated," David Parker, director of space exploration at the European Space Agency, said in 2021. AdvertisementAn illustration shows a concept of how NASA's Mars Sample Return mission would launch Perseverance's samples from the surface of Mars. At the current price tag, Mars Sample Return would "cannibalize" other NASA missions, Nelson said.

Persons: —, Nicola Fox, We're, David Parker, Bill Nelson, Nelson, Fox, Lockheed Martin, Northrop, We've, that's Organizations: NASA, Service, Mars Express, ESA, JPL, Caltech, ASU, European Space Agency, Lockheed, Northrop Grumman, Boeing, SpaceX Locations: Berlin, Mars

☆ Iranian navy seizes Israel-linked container ship amid escalating tensions in Middle East
▼ + stars: | 2024-04-13 | by ( Adam Pourahmadi | Catherine Nicholls | ) edition.cnn.com time to read: +2 min

Mediterranean Shipping Company (MSC) has confirmed the seizure, saying there are 25 crew on board. Portugal’s government said that it was in touch with the Iranian authorities. The Strait of Hormuz, at the northern end of the Gulf of Oman, is the biggest oil chokepoint in the world. The United Kingdom’s Foreign Secretary, David Cameron, wrote on social media platform X that he had spoken with Israeli war cabinet minister Benny Gantz. The two discussed their “shared concerns about Iranian threats to attack Israel,” Cameron wrote, adding that “further escalation in the region is in no-one’s interest and risks further loss of civilian life.”

Persons: CNN —, IRNA, “, Eyal Ofer, Joe Biden, Daniel Hagari, Israel, David Cameron, Benny Gantz, ” Cameron, ” Organizations: CNN, CNN — Iran’s Revolutionary Guards, Iran’s Revolutionary Guard Corps, Navy, Zodiac, Mediterranean Shipping Company, United, Israel Defense Forces, United Kingdom’s Locations: Israeli, Hormuz, Iran, Syria, Portuguese, Gulf of Oman, Tehran, Iranian, United States, Damascus, Gaza, The Iran, Yemen, Red, Israel

☆ Asia markets mixed ahead of China trade data; Singapore first-quarter GDP climbs 2.7%
▼ + stars: | 2024-04-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets were mixed Friday after an inflation-fueled selloff in the previous session, with investor assessing economic data from Singapore and South Korea while awaiting China trade numbers. China's trade data for March will be released later in the day, with exports forecast to fall 2.3% year on year by economists polled by Reuters. The city-state's central bank held its monetary policy steady, leaving the width and level of its policy band unchanged. In contrast to other countries, Singapore uses exchange rate settings for its monetary policy, instead of a benchmark interest rate. South Korea's March unemployment rate rose to 2.8%, while investors awaited the Bank of Korea's rate decision.

Persons: Singapore's Organizations: Reuters, Bank of Locations: Qingdao, Shandong province, Asia, Pacific, Singapore, South Korea, China

☆ Former Amazon Robotics chief raises $100 million for his 35-person startup, pushing the valuation over $500 million
▼ + stars: | 2024-04-10 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Read previewAnother robotics startup has raised a large amount of money, signaling a rebound in investor appetite in the space. Collaborative Robotics, an automation startup founded by former Amazon Robotics chief Brad Porter, just raised $100 million in a round led by General Catalyst. The latest round values Collaborative Robotics at more than $500 million, Porter told Business Insider. Founded in 2022, Collaborative Robotics has 35 employees and deployed its first product earlier this year. Mayo Clinic, which also invested in Collaborative Robotics, is one of the early customers, he added.

Persons: —, Brad Porter, General Catalyst, Porter, hasn't, Pitchbook, There's Organizations: Service, Robotics, Amazon Robotics, General, Bison Ventures, Industry Ventures, Lux Capital, Sequoia Capital, Khosla Ventures, Business, Physical Intelligence, Mayo Clinic, Venture

☆ Arizona woman accused of trying to kill husband with poison in his coffee pleads guilty to lesser charge
▼ + stars: | 2024-04-10 | by ( Steve Almasy | Amanda Musa | ) edition.cnn.com time to read: +1 min

CNN —A woman in Arizona pleaded guilty this week to attempting to poison her husband’s coffee every day for months, court documents show. The defendant’s husband, Roby Johnson, told investigators he “believes she was trying to kill him to collect death benefits,” according to a criminal report obtained last year by CNN affiliate KVOA. Roby Johnson said he first noticed a foul taste to his coffee in March 2023 while he was an airman stationed in Germany, the document says. Roby Johnson told investigators he pretended to continue drinking the coffee so he could wait until they returned to Davis Monthan Air Force Base in Tucson before filing a police report. Melody Felicano Johnson had been charged in August with attempted first-degree murder, attempting to commit aggravated assault, and poisoning food or drink.

Persons: Melody Felicano Johnson –, –, Roby Johnson, “, Melody Johnson, Melody Felicano Johnson Organizations: CNN, Court, KVOA, Johnsons, Davis Monthan Air Force Base Locations: Arizona, Pima County, Germany, Tucson

☆ WTO forecasts rebound in global trade but keeps geopolitical risks in focus
▼ + stars: | 2024-04-10 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

The World Trade Organization on Wednesday said that it expects global trade to rebound gradually this year, before rising further in 2025, as the impacts of higher inflation fall into the rearview mirror. In its latest "Global Trade Outlook and Statistics" report, the WTO forecast that total global trade volumes will increase by 2.6% in 2024, and by a further 3.3% in 2025. It follows a larger-than-expected 1.2% decline in 2023, as inflationary pressures and higher interest rates weighed on international trade. The trade rebound is expected to be "broad-based," including across Europe, which experienced some of the deepest falls in trade volumes last year as a result of geopolitical tensions and the energy crisis caused by Russia's full-scale invasion of Ukraine. "Europe was really weighing on international trade in 2023, and we don't see that being the case anymore," Ossa said.

Persons: Ralph Ossa, CNBC's Silvia Amaro, Russia's, Ossa Organizations: World Trade Organization, Trade Outlook, WTO Locations: Europe, Africa, India, Pakistan, Southeast Asia, Qianwan, Qingdao Port, Qingdao, China, Ukraine

☆ Imports from China to the US are rising at the highest rate since last fall
▼ + stars: | 2024-04-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Imports coming to the U.S. from China are experiencing a notable increase, according to new trade and logistics data. The first half of 2024 is expected to total 11.7 million TEUs (twenty-foot equivalent units), an increase of 11% from the same period last year. In 2023, imports were down from 2022 by almost 13%, totaling 22.3 million TEUs. By comparison, New York/New Jersey processed 7.81 million TEUs, Georgia 5.4 million TEUs, Virginia at 3.3 million TEUs, Charleston 2.5 million TEUs, Jacksonville 1.3 million TEUs, and Miami 1.25 million TEUs. The other reason for the recent container push is fears of a labor strike at East Coast and Gulf ports.

Persons: John Gold, Francis Scott Key, Jason Hilsenbeck, Drayage.com, Paul Brashier, Brashier Organizations: Future Publishing, Getty, Global, National Retail Federation, Hackett Associates, Francis Scott Key Bridge, Miami, ITS Logistics, CNBC, Baltimore, West Coast, U.S ., Port / Railroad, Longshoremen's Association, United States Maritime Alliance Locations: Taicang, Jiangsu province, China, U.S, Panama, Port of Baltimore, East Coast, New York, New Jersey, Georgia, Virginia, Charleston, Jacksonville, Port of Virginia, Norfolk, Baltimore, NY, NJ, Norfolk and New York, West, West Coast North, U.S . East Coast, West Coast, Los Angeles, Long Beach, Long, Gulf, East

☆ Dali container removal will take weeks, a key to Port of Baltimore reopening
▼ + stars: | 2024-04-08 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

A Key Bridge Response 2024 Unified Command image of response crews remove shipping containers using a floating crane barge after the cargo ship Dali struck and collapsed the Francis Scott Key Bridge, on April 7, 2024 in Baltimore, Maryland. CSX was the first rail to start a rail service for diverted containers resulting from the accident and closure of the Port of Baltimore. Once the Dali is refloated and no longer listing, tugs will move the vessel to the CSX terminal at the Port of Baltimore. "Once you see plans of moving the Dali away from the port, that's when you know the channel is ready to be open," Roth said. The size of vessels the Coast Guard is allowing is 96 feet in length, compared to the 984-foot-long Dali, the vessel that struck the Francis Scott Key Bridge after losing navigational control and destroyed the key piece of infrastructure.

Persons: Dali, Francis Scott Key, JIC, Aaron Roth, Roth Organizations: Bethlehem Steel, Unified Command, Synergy Marine, U.S . Coast Guard, U.S . Army Corps of Engineers, Maryland Department of, Environment, Maryland Transportation Authority, Maryland State Police, Center, CNBC, Port, CSX, Coast Guard, Chertoff Group, Guard, Francis Scott Key Bridge, Department of Defense, Dover Air Force Base Locations: Baltimore , Maryland, Baltimore Harbor, Baltimore, Port of Baltimore

☆ NATO helicopters are shooting down and eliminating enemy drones in a rarer kind of Red Sea battle
▼ + stars: | 2024-04-08 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

Houthi attack drones have mostly been intercepted by US and allied warships in the Red Sea. Air-to-air combat has been much less common, but last month, a French helicopter shot down a drone. One recent interception, however, was credited to a French helicopter crew, which blasted a Houthi attack drone out of the sky in air-to-air combat. AdvertisementPilots are 'well-trained'And the US hasn't been the only naval force to destroy Houthi threats in the Red Sea with embarked helicopters. A Germany Navy Sea Lynx helicopter flies over the corvette Oldenburg in the Baltic Sea on June 05, 2023 near Rostock, Germany.

Persons: —, FRANCOIS NASCIMBENI, Brynn Tannehill, Hawk, Tannehill, Damon Coulter, Dwight D, Eisenhower, Sean Gallup, You've, you've Organizations: US, Red Sea, Service, Helicopters, Getty Images, US Navy, Navy, UH, US Army Black, US Navy Sikorsky, Helicopter Maritime, Naval Air Facility, Getty, aircraft, Command, Germany Navy Sea Lynx, German Bundeswehr Joint Forces Operations Command, BI, Lynx Locations: Red, French, France, Sissonne, AFP, Getty Images France, Iran, Yemen, Kanagawa, American, Hessen, Baltic, Rostock, Germany

An aerial view of the cargo ship that hit the Francis Scott Key Bridge in Baltimore last month. The announcement comes ahead of President Biden’s scheduled visit to the site of the wreckage on Friday. The channel will allow one-way traffic of vessels at a time to and from the port, according to the statement. The Biden administration said last week that it was allocating $60 million in emergency federal highway funds, the initial costs of what will likely be a far more costly operation. Mr. Biden has pledged that the federal government would pay for the bridge to be rebuilt.

Persons: Francis Scott Key, Biden’s, Biden Organizations: U.S . Army Corps of Engineers, Army Locations: Baltimore, Port of Baltimore, Patapsco

☆ A Situation Room scramble, daily calls and political intrigue: Inside the White House response to the Key Bridge collapse
▼ + stars: | 2024-04-05 | by ( Kayla Tausche | ) edition.cnn.com time to read: +8 min

ET, overnight staffers in the White House Situation Room began frantically reaching out to senior officials to notify them of the collision – and collapse – of Baltimore’s Francis Scott Key Bridge. Jen Daskal, the deputy homeland security adviser, began preparing a briefing for President Joe Biden. Two Oval Office meetings were convened as staff at various levels began trickling into the White House. Seven barges and nine tugboats have deployed to the area, according to Tom Perez, the White House director of intergovernmental affairs. In another case – that of Moore and Perez – the two have already opposed each other on the ballot.

Persons: Pete Buttigieg, Dali, Baltimore’s Francis Scott Key, Buttigieg, ” Buttigieg, Wes Moore, Baltimore Mayor Brandon Scott, Jeff Zients –, Jen Daskal, Joe Biden, “, ”, Johnny Olszewski – Biden, ” Olszewski, Biden, “ I’ve, ” Biden, –, Tom Perez, ” Perez, Perez, “ It’s, we’ve, Natalie Quillian, Moore, Perez –, that’s, ” CNN’s Donald Judd Organizations: Baltimore CNN —, US Coast Guard, CNN, Maryland Gov, Baltimore Mayor, White House, Baltimore, Coast Guard, Department of Transportation, Maryland, White, Administration, Democratic Locations: Wyoming, Montana, Maryland, Baltimore County, Washington, Delaware, Baltimore, Patapsco, synchrony, Federal, White, United States

☆ Baltimore Shipping Channel Will Partially Reopen by End of April, Officials Say
▼ + stars: | 2024-04-05 | by ( Victoria Kim | More About Victoria Kim | ) www.nytimes.com time to read: +1 min

A shipping channel in the Baltimore harbor that has remained blocked since last week’s collapse of the Francis Scott Key Bridge will be partially reopened by the end of April, with full traffic expected to be restored by late May, the U.S. Army Corps of Engineers said Thursday. The announcement comes on the eve of President Biden’s scheduled visit to the site of the wreckage on Friday. Officials have warned that clearing the warped, jagged debris from the channel will be a complex and potentially dangerous underwater salvage operation, as they scramble to reopen the Port of Baltimore, a key automobile hub that employs 8,000 people. A 280-foot-wide, 35-foot-deep channel leading to the port is expected to be opened first, allowing for container ships and vessels transporting automobiles, the Army corps, which maintains the shipping channel to ensure that it is navigable, said in a statement. The channel will allow one-way traffic of vessels at a time to and from the port, according to the statement.

Persons: Francis Scott Key, Biden’s Organizations: U.S . Army Corps of Engineers, Army Locations: Baltimore, Port of Baltimore

☆ I'm a chef who loves to shop at Costco — but there are 12 things I never buy there
▼ + stars: | 2024-04-05 | by ( Lizzy Briskin | ) www.businessinsider.com time to read: 1 min

Instead of buying mixed salted nuts, I just buy the variety I need. It might be better to buy nuts that have not been roasted if you need them to last. Lizzy BriskinNuts are a fantastic snack and ingredient, but large bags or tubs of nut varieties that have been roasted and salted are a pass for me. And though roasting nuts certainly improves the flavor, it also significantly decreases their shelf life. Your best bet may be to buy Costco's single-variety packs of unroasted nuts and keep them in your freezer for maximum freshness.

Persons: Briskin Organizations: rancid Locations: Brazil

☆ CSX completes first diverted cargo shipments on new rail line for Port of Baltimore
▼ + stars: | 2024-04-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Just days after CSX announced a new rail line in response to the Port of Baltimore closure, the Baltimore-bound containers that were diverted to the Port of New York and New Jersey are back being unloaded in Baltimore. CSX started discussions last week with Ports America to see how it could effectively move the diverted cargo. The train route moving the diverted cargo includes Chicago; Kearney, New Jersey; and Baltimore. Norfolk is in discussions with Ports America to extend this service directly on-dock at their Seagirt Intermodal Container Transfer Facility. As the Port of Baltimore crisis unfolded, many major ocean carriers invoked contract clauses transferring responsibility for transportation of cargo from diverted ports to shipping clients.

Persons: Mark Schmidt, Schmidt, Scott Cowan Organizations: CSX, Port, Ports, Canada, Plan Investment Board, Ports America, Norfolk Southern, Elizabeth Marine, Norfolk Southern's Triple Crown Services, International Longshoremen's Association, Baltimore Locations: Baltimore, of New York, New Jersey, Ports America, North, Chicago, Kearney , New Jersey, Norfolk, New York, Wilmington, Newark, Elizabeth , New Jersey, Port of New York, North America, Port of Baltimore, East Coast, Gulf, U.S, , Puerto Rico, Eastern Canada

☆ Hunger in Haiti is spreading amid gang violence, aid workers warn
▼ + stars: | 2024-04-03 | by ( Hira Humayun | Caitlin Stephen Hu | ) edition.cnn.com time to read: +8 min

I don’t think that’s sunk in,” Jean-Martin Bauer, the World Food Programme’s country director for Haiti, told CNN last week. A server ladles soup into a container as children line up to receive food at a shelter for families displaced by gang violence, in Port-au-Prince, Haiti, Thursday, March 14, 2024. “We’re completely cut off from all supplies, food, medical supplies, you name it,” he said. “Conflict and hunger are closely linked,” Laure Boudinaud, Vulnerability Analysis and Mapping Officer for WFP in Haiti said. Haitian citizens try to get goods at Liceo Marie Jeanne shelter in Port-au-Prince, Haiti, 21 March 2024.

Persons: CNN —, Prince, Ariel Henry, ” Jean, Martin Bauer, Odelyn Joseph, –, ”, Catherine Russell, Dr, Ralph Ternier, Zanmi Lasante, he’s, Ternier, ” Ternier, Hopital Albert Schweitzer, Jean Marc deMatteis, “, ” Laure Boudinaud, Liceo Marie Jeanne, Mentor David Lorens, Bauer, we’ve, that’s, ” Bauer, you’re Organizations: CNN, American, UNICEF, United Nations, Roads, Hopital, World Food Programme, Liceo Marie, WFP, “ Locations: Haiti, Caribbean, Port, Prince, Mirebalais, Artibonite Valley, Artibonite

☆ Baltimore bridge collapse reveals a gap in federal government port protection powers
▼ + stars: | 2024-04-02 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Tugboats guide the Maersk Atlanta container ship at the Port of Newark in Newark, New Jersey, US, on Saturday, March 30, 2024. As the Dali container ship neared the Francis Scott Key Bridge after losing power and with no ability to navigate, there were no tug boats to guide it. It is unclear if the tugs remained with the Dali, a collision could have been averted. But maritime experts say that new tugboat regulation would be a reasonable response for the government to consider. The next day, the Coast Guard referred CNBC to the Joint Information Center (JIC) for the Key Bridge Casualty 2024 incident in Baltimore.

Persons: Dali, Francis Scott Key Organizations: Maersk, Port, Francis Scott Key Bridge, CNBC, Infrastructure Security Agency, Department of Homeland Security, Department of Transportation, U.S . Coast Guard, Coast Guard, Joint Information Center, U.S . Immigration, Customs, . Customs, Border Patrol Locations: Maersk Atlanta, Newark, Newark , New Jersey, US, Port of Baltimore, Baltimore

☆ Will the Baltimore Bridge Disaster Make Inflation Worse? - The New York Times
▼ + stars: | 2024-04-02 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

It has been a week since the Dali, a container ship, struck the Francis Scott Key Bridge in Baltimore. It’s still stuck there, and the images remain amazing, in part because the vessel is so huge compared with what’s left of the bridge. And with the ship and pieces of the bridge blocking the harbor entry, the Port of Baltimore remains closed. Well, it would have been quite a big deal if it had happened in late 2021 or early 2022, when global supply chains were under a lot of pressure. The Dali is no Ever Given, the ship that blocked the Suez Canal when it ran aground in 2021.

Persons: Dali, Francis Scott Key, It’s, what’s, Dali Baltimore Locations: Baltimore, Port, Los Angeles, Dali, East Coast, Suez

☆ The global gas glut could reach multi-decade highs in the coming years, Morgan Stanley says
▼ + stars: | 2024-04-02 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

A liquefied natural gas tanker sails past a container terminal as it arrives in Yokohama, Japan, May 21, 2018. Natural gas prices have plunged as the world grapples with an oversupply after a warmer-than-expected winter. The recent heyday in liquefied natural gas boosted prices and profits, spurring a wave of investment in the sector. "We expect gas market oversupply to reach multi-decade highs over the coming years," Morgan Stanley's commodity strategists said. Natural gas prices currently stand at $1.83 per MMBtu (metric million British thermal unit), down about 22% so far this year.

Persons: Morgan Stanley, Morgan Locations: Yokohama, Japan

☆ The accountant shortage is so bad that it's delaying key reports at companies like Tupperware
▼ + stars: | 2024-04-01 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Read previewThe accountant shortage is so bad that companies are delaying filing key mandatory reports. On Friday, Tupperware said it didn't have enough accountants to get its annual report out on time. The storage container manufacturer is the latest on a growing list of companies that have delayed their annual reports for a host of reasons. About 70 companies have postponed annual reports this year, up 40% from last year, research company Intelligize tallied last month. Tupperware added that previous delays in filing its 2022 annual report led to postponement of its quarterly reports, which subsequently pushed back work on its 2023 annual report.

Persons: —, Tupperware, Intelligize, Steven Kachelmeier, Fitness Organizations: Service, Business, LinkedIn, PricewaterhouseCoopers, American Institute of Certified Public Accountants, US Bureau of Labor Statistics, Accountants, University of Texas, Mattel, Securities, Exchanges Locations: Orlando, Poland, American

☆ Opinion | Will MAGA Republicans Block Baltimore’s Rebuilding?
▼ + stars: | 2024-04-01 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

Soon after a huge container ship struck Baltimore’s Francis Scott Key Bridge, bringing it down, President Biden pledged that the federal government would “pay the entire cost of reconstructing” the bridge. This would clearly be the right thing to do, not just to help the state of Maryland but also to limit the economic damage from a disaster that has blocked both a major road artery and a major port. Biden will probably be able to get funds for rebuilding, but it’s by no means a sure thing. The rise of MAGA Republicans is only part of the problem. Indeed, within days, Congress voted unanimously to provide $250 million in aid.

Persons: Baltimore’s Francis Scott Key, Biden, —, MAGA, I’ve Organizations: Federal, Aid, Republican, MAGA Republicans Locations: Maryland, Port, Baltimore, East, America, Minnesota

☆ How the Coast Guard is carefully letting ships back into Baltimore port for bridge cleanup
▼ + stars: | 2024-04-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Debris is cleared from the collapsed Francis Scott Key Bridge as efforts begin to reopen the Port of Baltimore on March 31, 2024, in Baltimore, Maryland. Tasos Katopodis | Getty Images News | Getty ImagesCoast Guard officials tell CNBC the secondary channel that is being created in the southwest channel of the Port of Baltimore will only welcome commercial vessels that are cleared by the Coast Guard in the removal of debris. "The vessels will be decided on a case-by-case basis," said Carmen Caver, Coast Guard spokesperson. The draft for the select commercial work vessels that will be permitted by the Coast Guard to help in the removal of Key Bridge debris is 10 feet. Based on a review of AIS data from MarineTraffic, there have been almost 1,000 containership arrivals at Baltimore port since January 2022, with an average TEU (container capacity) of 7,039, according to Nikos Pothitakis, Kpler spokesman.

Persons: Francis Scott Key, Tasos Katopodis, Carmen Caver, Dali, Nikos Pothitakis, Aaron Roth, Roth Organizations: Getty, Coast Guard, CNBC, Francis Scott Key Bridge, Maersk, Dali, Chertoff Group Locations: Port of Baltimore, Baltimore , Maryland, Port, Baltimore, MarineTraffic, East, Dali

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