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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

☆ The US dockworkers strike is here, and it's impacting more than just packages
▼ + stars: | 2024-10-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

A strike at ports along the US East and Gulf Coasts presents huge challenges for the economy. The strike could lead to billions in daily economic losses and stall imports ranging from mangoes to auto parts. The dockworkers are pushing for higher wages and a ban on automation at the ports. AdvertisementA major strike at US ports started on Tuesday and could snarl everything from holiday shopping to auto production lines. But the strike could halt shipments of those foods, including mangoes, bananas, and other fresh fruit from Central and South America.

Persons: —, Bruce Chan, Costamare, Alan Murphy, Jonathan Gold, Mia Ginter, Robinson, Joe Biden, Biden, Taft, Hartley, Sean M, O'Brien Organizations: Gulf Coasts, Service, Workers, International Longshoremen's Association, United States Maritime Alliance, JPMorgan, . Shipping, ZIM Integrated Shipping Services, FedEx, UPS, Intelligence, Jefferies, Retailers, National Retail, Joe Biden Trade, National Retail Federation, Teamsters Locations: Maine, Texas, Central, South America, East Coast, West Coast, Taft

☆ How major retailers Amazon, Best Buy, Costco, Home Depot prepared for the port strike
▼ + stars: | 2024-10-01 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Club holdings Amazon , Costco , Home Depot , and Best Buy have been preparing for the port strike for months — attempting to blunt any fallout it might have on their abilities to get goods from overseas. They added that 60% to 70% of those imports arrive at East Coast and Gulf Coast ports. To put things in perspective, for retail goods, the East Coast ports are less utilized than the West Coast ports, Basham said. Due to its size, however, Best Buy often gets priority from its shippers, which could help secure goods faster than smaller competitors. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Walkouts, We're, Jeff Marks, Seth Basham, Basham, Lorraine Hutchinson, Bank of America Merrill Lynch, it's, They're, Ron Vachris, We've, Marc Wulfraat, Wulfraat, Wedbush's Basham, Jim Cramer's, Jim Cramer, Jim, Maher, Shannon Stapleton Organizations: Longshoremen's Association, United States Maritime Alliance, U.S, Costco, Home, CNBC, Barclays, Retailers, Bank of America, International Longshoremen's Association Locations: East Coast, Gulf, Maine, Texas, Gulf Coast, East, West Coast, Elizabeth , New Jersey, U.S

☆ Bitcoin tumbles back to the $60,000 level as tensions in the Middle East heighten
▼ + stars: | 2024-10-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Around 4:45 p.m. Eastern time, bitcoin slid to as low as $60,175. Crypto exchange Coinbase dropped about 1% and bitcoin proxy MicroStrategy lost 2%, after closing lower by 7.4% and 3.5%, respectively. Stock Chart Icon Stock chart icon Crypto assets tumble to start October and the fourth quarterRising tensions in the Middle East dampened investors' risk appetite as the new trading month and quarter began. "Surging unrest across the Middle East has propelled oil prices upward and reinforced the dollar's strength, casting a shadow over bitcoin and other speculative investments," said Chris Kline, chief operating officer and co-founder of Bitcoin IRA. "Meanwhile, a global monetary tug-of-war is unfolding as various central banks slash interest rates and expand their money supplies."

Persons: Jonathan Raa, Cryptocurrencies, bitcoin, Coinbase, MicroStrategy, Hassan Nasrallah, Chris Kline Organizations: Nurphoto, Getty, bitcoin, Metrics, International Longshoremen's Association, Gulf Coasts Locations: Iran, Israel, Iranian, Lebanon

☆ The port strike will tip the US into recession if it lasts more than a month, researcher says
▼ + stars: | 2024-10-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The port strike could spark a US recession if it lasts four weeks or longer, Sea-Intelligence's Alan Murphy said. AdvertisementThe economy could see a hard landing if the ongoing port strike lasts long enough, according to one industry researcher. Alan Murphy, the CEO of the liner research firm Sea-Intelligence, estimates the US could tip into recession if the port strike lasts longer than a month. AdvertisementIf the strike lasts longer than a week, importers will likely have a "manageable crisis" on their hands, Murphy said. "By estimates, it's almost certain to push the US into a recession this year if it lasts longer than a month," he added.

Persons: Alan Murphy, —, Murphy, Biden Organizations: Shipping, Service, Intelligence, NBC, International Longshoremen's Association, US Maritime Alliance Locations: Gulf Coast

Last year, Son — who says he uses ChatGPT every day — is said to have met with Sam Altman, the A.I. That included talks for Son to provide up to $1 billion in funding to Altman and Jony Ive, the designer behind the iPhone, to create an A.I.-powered replacement for the smartphone. Bloomberg reported that SoftBank had hoped to be part of OpenAI’s last fund-raising round, but was instead wait-listed. Son is also trying to organize the auto industry around the use of A.I. The strike poses a significant threat to the U.S. economy, with analysts estimating it could cost up to $7.5 billion a week.

Persons: SoftBank, Son —, Sam Altman, Altman, Jony, Son, Cerebras Organizations: Bloomberg, Nvidia, Gulf Coasts, International Longshoremen’s Association Locations: OpenAI’s, ramping, A.I, British, Wayve, Gulf, U.S

☆ A historic strike is underway at U.S. ports — and the impact on global supply chains could be huge
▼ + stars: | 2024-10-01 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

A container ship departs the Port of Newark for the Atlantic Ocean on September 30, 2024 seen from New York City. Workers at ports stretching from Maine to Texas went on strike early Tuesday in a dispute over wages and automation. Workers picket outside of the APM container terminal at the Port of Newark in Newark, New Jersey, US, on Tuesday, Oct. 1, 2024. You might say it is a perfect storm, but it is also a really good negotiating position for those people wanting a strike," Sand said. Cranes used for shipping containers rise from the Port of Newark on September 30, 2024 in New York City.

Persons: Spencer Platt, Lisa DeNight, Newmark, CNBC's, DeNight, Peter Sand, Sand, Maersk, Bradley Saunders, Joe Biden, Biden, Taft, Hartley Organizations: Getty, U.S, Workers, International Longshoremen's Association, ILA, United States Maritime Alliance, " Workers, APM, Port, Bloomberg, Maersk, North America Economist, Capital Economics Locations: Port, Newark, New York City, East, Gulf, Maine, Texas, U.S, Red, Panama, Baltimore, Gulf Coast, Europe, Asia, Newark , New Jersey, US, Danish, East Coast

☆ This is the key group of stocks to watch if the port strike drags on this month
▼ + stars: | 2024-10-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A look back in history shows how a key group of transportation stocks performed the last time there was a major port strike, according to Wolfe Research. Against that backdrop, Scott Group, a senior analyst covering freight transportation at Wolfe, looked at transportation stocks in 2002, the last time there was a major port strike in the U.S. That strike, which lasted just 11 days and affected only West Coast ports, hurt transportation stocks throughout the protest, he said. But those same stocks staged a major comeback in the month after the strike ended. Here are how some key stocks performed during and after the last major strike. Robinson Worldwide was among the biggest laggards during the last port strike.

Persons: Wolfe, Joe Biden, Taft, Hartley, C.H, Robinson, It's Organizations: Wolfe Research, International Longshoremen's Association, Eastern Seaboard, Scott Group, ISI, Hunt Transport Services, FedEx, Norfolk Locations: North America, of Mexico, Eastern, Wolfe, U.S, West Coast, Norfolk Southern

☆ Investors hope October paves way for records as cryptocurrency enters historically strong month
▼ + stars: | 2024-10-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

A September surprise has given bitcoin a head start on a potential run to record highs in the fourth quarter. The cryptocurrency posted a 7.7% gain for September — historically its weakest month of the year — and its best month since May. The month has become known to native crypto investors as "Uptober." … As crypto becomes increasingly correlated with traditional markets, it's expected to be another strong month." Investors expect bitcoin's price will be driven by rate cuts, more inflows into bitcoin ETFs by institutions and clarity following the election.

Persons: Ether, Bitcoin, Jerome Powell, James Davies, " Davies, David Duong, Duong, we've, bitcoin, it's, — CNBC's Michael Bloom, Nick Wells Organizations: U.S, International Longshoremen's Association, Gulf Coasts, bitcoin Locations: U.S, China

☆ These consumer products are most likely to be impacted by the port strike
▼ + stars: | 2024-10-01 | by ( Dominick Reuter | Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

US port workers are on strike following the expiration of their labor contract Monday night. The work stoppage at Eastern and Gulf Coast facilities will impact a host of consumer products. AdvertisementUS port workers with the International Longshoremen's Association are on strike following the expiration of their union's contract Monday night. In the latest development of the ongoing labor dispute, the work stoppage at Eastern and Gulf Coast facilities is expected to impact a host of consumer products. Continental Tire, Michelin, and Goodyear are all top importers through East and Gulf Coast ports, Pacula noted.

Persons: —, Margaret Kidd, Brian Pacula, West, Tim Ryan, Pacula, Dali, Francis Scott Key, Hurricane Helene, Michael Yamartino, Chris Butler Organizations: Gulf, Service, International Longshoremen's, Conference Board, University of Houston, Walmart, Wall, Jefferies, Continental Tire, Michelin, Goodyear, Port, National Tree Company Locations: Gulf Coast, West Coast, Central, South America, West Monroe, Florida, Peru, Miami, Asia, East, Europe, Baltimore, Hurricane

☆ Car companies have plenty of inventory, but the port strike will affect European brands the most
▼ + stars: | 2024-10-01 | by ( Benjamin Zhang | Nora Naughton | ) www.businessinsider.com time to read: +4 min

Car companies have plenty of inventory, enough to cover 77 selling days. If no new inventory arrives, car companies have, on average, a 77-day supply of vehicles to sell. AdvertisementEuropean carmakers such as BMW, Mercedes-Benz, Volkswagen, and Volvo are expected to be most heavily affected, Reuters reported, citing research by Barclays analysts. BMW, Mercedes-Benz, Volvo, and Volkswagen all operate vehicle-processing and -distribution facilities at the port. At the same time, the Port of Jacksonville handled just over half a million vehicles from Toyota and Volkswagen in 2023.

Persons: Longshoremen, —, Martin Meissner, Cox, Mercedes, Stephen B, Morton Organizations: Service, Cox Automotive, BMW, Mercedes, Benz, Volkswagen, Volvo, Reuters, Barclays, VW, Audi, Toyota, Hyundai, Lexus, Kia Telluride, Port, Georgia Port Authority, Kia, International Longshoremen's Association, US Maritime Alliance, Associated Press Locations: Gulf, Europe, East, New York, Baltimore, Savannah , Georgia, Bremerhaven, Germany, West Coast, Asia, Coast, Jacksonville , Florida, Brunswick, Georgia, Savannah, Port, Jacksonville

White House officials on Friday met with representatives from the consortium, the US Maritime Corporation, to encourage the association to stay at the negotiating table. President Joe Biden has sent a clear message that he has no plans to do the latter. Without taking that move, there’s not much else the White House can do. “The administration is using its bully pulpit, and has been for a while,” says John Porcari, who served as the White House supply chain czar under Biden. “In political terms, there’s no good time for a strike,” the former official said.

Persons: dockworkers, Biden, Taft, Hartley, Joe Biden, “, ” Biden, Kamala Harris, there’s, ”, John Porcari, George W, Bush, Liz Shuler, Jeff Zients, Lael Brainard, USMX, Harold Daggett, Labor Julie Su, ” Daggett, Donald Trump, Harris, –, Ford, Ohio Sen, JD Vance, Tim Walz, Trump Organizations: CNN, International Longshoremen’s Association, US Maritime Corporation, White House, ”, White, Republicans, House Transportation, Labor, ” AFL, GOP, National Economic, International Longshoreman’s Association, Republican, Biden administration’s, Biden, Anderson Economic Group, Boeing, United Auto Workers, Minnesota Gov Locations: East, Gulf, Taft, West Coast, Michigan, Dearborn, Ohio, Minnesota

☆ The dockworkers' strike is a test for Biden — and complicates an already dizzying 2024 presidential race
▼ + stars: | 2024-10-01 | by ( Juliana Kaplan | John L. Dorman | ) www.businessinsider.com time to read: +8 min

But the strike could pose several issues for Vice President Harris in her presidential campaign. AdvertisementThere's a labor storm a-brewing off the East Coast — but don't expect to see President Joe Biden stepping in anytime soon. MATTHEW HATCHER/AFP via Getty ImagesThe strike throws another wrench into the 2024 raceThe strike has the potential to further upend what has already been a dizzying presidential race. Vice President Kamala Harris is now carrying the banner of the Biden administration's pro-union policies as the Democratic presidential nominee. But Harris' union ties are not as deep as those enjoyed by Biden.

Persons: Joe Biden, Harris, —, dockworkers, it's, Biden, Taft, George W, Bush, Hartley, Cathy Creighton, Creighton, Hamilton Nolan, Nolan, USMX, Hurricane Helene, Independent Sen, Bernie Sanders of, Kamala Harris, Donald Trump, MATTHEW HATCHER, Trump, they're Organizations: Service, Gulf Coasts, International Longshoremen's Association, US Maritime Alliance, Workers, Cornell University's Industrial, Labor Relations Buffalo Co, Labor, ILA, —, Independent, Getty, Biden, Democratic, Teamsters, Trump, AFL, United Auto Workers, United Steelworkers, Republicans, Republican Party Locations: East Coast, Gulf of Mexico, East, West Coast, Taft, Hurricane, Bernie Sanders of Vermont, Michigan , Nevada, Pennsylvania

☆ 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

☆ The biggest stock market winners and losers of the US port strike
▼ + stars: | 2024-10-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Port workers are demanding a 61.5% raise and oppose the adoption of automation in new contract negotiations. According to Stifel analyst Bruce Chan, the ramifications of the port strike won't be sizable unless the strike is drawn out for more than two weeks. Robinson Worldwide and Expeditors International of Washington have seen gains of 4% and 5% in the past week, respectively, as investors anticipate increased business due to the port strike. Biggest losersThe biggest losers, so far, appear to be shipping container companies that are directly exposed to the port strike. That means railroads and trucking companies with significant exposure to the east coast could take a hit.

Persons: —, Bruce Chan, Chan, It's, Robinson, Biden, Hartley Organizations: Air, UPS, FedEx, Service, Workers, International Longshoremen's Association, Yahoo Finance, ILA, Expeditors International of Washington, ZIM Integrated Shipping Services, Lease, Taft, CSX, NSC, Walmart, Costco, Target Locations: Gulf, East, West, Canada, Taft, Coast

☆ Dock workers just went on strike at the worst possible time
▼ + stars: | 2024-10-01 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

Dockworkers walked off the job at East and Gulf Coast ports from Maine to Texas on Tuesday morning. The strike is set to disrupt major imports one month before the US election. Rerouting items to the West Coast will cost businesses time and money. Advertisement"Since these are ports on the East Coast, the folks who have suppliers in Europe will be hit," Yamartino said. AdvertisementBut if the strike lasts longer than a few weeks, Pacula said he expects the federal government to get involved, regardless of the election implications.

Persons: Dockworkers, —, Hurricane Helene, Consumers aren't, Brian Pacula, Pacula, Michael Yamartino, Yamartino, Joe Biden's, Joe Biden, Taft, Hartley Organizations: Service, International Longshoremen's Association, US Maritime Alliance, Associated Press, Conference Board, CBS News, Consumers, West, Longshoreman's Association, Retail Industry, Association Locations: East, Gulf Coast, Maine, Texas, West, Asheville , North Carolina, West Monroe, Europe, East Coast

☆ US port workers strike starts across the East and Gulf Coasts
▼ + stars: | 2024-10-01 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

The strike, which was confirmed by the Port Authority of New York and New Jersey as well as the Port of Virginia, began at midnight. The strike will stop the flow of a wide variety of goods over the docks of almost all cargo ports from Maine to Texas. The ports involved include the Port of New York and New Jersey, the nation’s third-largest port by volume of cargo handled. Port Wilmington in Delaware describes itself as the nation’s leading banana port, bringing in a large share of America’s favorite fruit. President George W. Bush applied the act in 2002 to halt an 11-day lockout of union members at West Coast ports.

Persons: haven’t, USMX, ” Harold Daggett, containerization, John McCown, Biden, ”, Joe Biden, Taft, Hartley, George W, Bush, “, ” Biden, ” It’s, Daggett, “ It’s, Peter Tirschwell, ’ ” Organizations: New, New York CNN, International Longshoremen’s Association, Port Authority of New, United States Maritime Alliance, American Farm Bureau, Retailers, ILA, “, P Global Market Intelligence, CNN Locations: New York, Gulf Coast, Port Authority of New York, New Jersey, of Virginia, Maine, Texas, of New York, Port Wilmington, Delaware, West Coast, Taft

☆ Stock futures are flat after S&P 500 closes at a record to end winning September: Live updates
▼ + stars: | 2024-09-30 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures were little changed on Monday evening, after the S&P 500 closed at a record to end September. S&P 500 futures inched lower by 0.1%, while Nasdaq 100 futures were just below the flatline. In the regular session, the S&P 500 and the 30-stock Dow notched closing records. All three major averages posted monthly gains, and it was the first positive September for the S&P 500 since 2019. The S&P 500, Dow and Nasdaq Composite also ended the third quarter in positive territory.

Persons: Jerome Powell, nonfarm, Dave Sekera Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow, Federal, Investors, Morningstar, Traders, International Longshoremen's Association, Gulf Coasts, U.S, U.S . Bureau of Labor Statistics, Labor, Survey, P Global U.S, Manufacturing, ISM, PMI Locations: New York City, U.S, Gulf

☆ A major port strike is looming. Costco says it's prepared.
▼ + stars: | 2024-09-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Eastern US ports could largely halt operations if a maritime workers union goes on strike Tuesday. "We've taken as many preemptive measures as we could to prepare," CEO Ron Vachris said last week. "The port strike is something we've been watching very closely for some time," Costco CEO Ron Vachris said last week during the company's fourth-quarter earnings call. Related stories"We have done a little bit of everything," the Costco CEO said. They're watching it closely and we've taken as many preemptive measures as we could to prepare for this."

Persons: We've, Ron Vachris, —, we've, Vachris, Abe Eshkenazi, Eshkenazi, Pete Buttigieg Organizations: Costco, Service, Retailers, Longshoremen's Association, United States Maritime Alliance, Association for Supply Chain, White, Transportation Locations: East Coast, Gulf, North America

☆ With ports strike imminent on East Coast, Gulf, truckers, rails are scrambling to move billions in cargo before midnight shutdown
▼ + stars: | 2024-09-30 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

As much as 43% to 49% of total containerized goods entering the U.S are processed through ports on the East Coast and Gulf Coast. Michael Kanko, CEO of ImportGenius, tells CNBC the economic importance of the ports impacted by an ILA strike is profound. Approximately 50,000 ILA union members work at the ports of Boston, New York/New Jersey, Philadelphia, Wilmington, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa, Miami, New Orleans, Mobile, and Houston. UBS forecast that 20% of Maersk's total volume would touch a U.S. port that would be impacted by the strike. East Coast ports in the U.S. are forecast to handle 2.3 million TEU (twenty-foot equivalent units) in October.

Persons: Gary Hershorn, Lading, Alan Baer, Baer, Michael Kanko, Brian Bourke, Pete Buttigieg, Julie Su, Lael Brainard, Biden, We've, Taft, Hartley, Donald Trump, Harold Daggett, let's, Estee Lauder, Steve Lamar Organizations: Port, Port Newark Container, Corbis, CNBC, International Longshoremen's Association, US Maritime Alliance, USA, ILA, U.S ., Seko Logistics, Gulf, Transportation, National Economic, UBS, Maersk, Democrats, Hartley, Business, The U.S . Chamber of Commerce, Biden, ., L'oreal, ABB, Walmart, Walgreens, Disney, Port Authority of, American Apparel & Footwear Association Locations: Port Newark, New York City, Newark , New Jersey, Coast, U.S, ImportGenius, East Coast, Gulf Coast, U.S . East Coast, Maine, Texas, Boston , New York, New Jersey, Philadelphia, Wilmington, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa , Miami , New Orleans, Mobile, Houston, The, Port of New York, Port Authority of NY, Virginia, Mitre . East Coast, Port of Virginia

☆ China's $114 billion stimulus package immediately boosted its stock market. But can it last?
▼ + stars: | 2024-09-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementUS financial firms' interest in China was on its last legs, but a new stimulus package has some investors excited again. The immediate impact of China's $114 billion package, which includes cutting interest rates and reducing the amount of money banks need to keep in reserve, has been big. Traders, investors, and speculators have sent China's stock market to its best month in nearly a decade , signaling that the market players think that Beijing's moves are a "bazooka." Our annual list of Wall Street rising stars is here. According to a new report from The Wall Street Journal, executives attempted to woo the AI researcher back before rescinding the offer.

Persons: —, Andres Martinez Casares, Alyssa Powell, Linette Lopez isn't, Linette, Jon Hicks, that's, David Tepper, He's, Tepper, Pan Gongsheng, BI's Filip De Mott, Wall, Natalie Ammari, Crypto, Donald Trump, Kamala Harris, Marc Piasecki, Tyler Le, who's, OpenAI execs, Ilya Sutskever, it's, Tara Anand, aren't, Jerome Powell, Ryan Routh, El Chapo, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Traders, Bank of China, bros, Trump, Getty, Houston Chronicle, Hearst Newspapers, Elon, Wall Street Journal, Netflix, Longshoremen's Association, National Association for Business Locations: China, New York, London, Chicago

☆ Clock ticks down towards a port strike with little hope it will be avoided
▼ + stars: | 2024-09-30 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

The maritime alliance represents the major shipping lines, all of which are foreign owned, as well as terminal operators and port authorities. Depending on the length of the strike, there could be shortages of consumer and industrial goods, which could then lead to price hikes. What could be in short supplyThe ports involved include the Port of New York and New Jersey, the nation’s third-largest port by volume of cargo handled. Port Wilmington in Delaware describes itself as the nation’s leading banana port, bringing in a large share of America’s favorite fruit. The union has pledged to continue to handling military cargo even during a strike and said passenger ships won’t be affected.

Persons: “, ” Harold Daggett, containerization, John McCown, Biden, ”, Joe Biden, Taft, Hartley, George W, Bush, Julie Su, Peter Buttigieg, Lael Brainard, ” Biden, ” CNN’s Arlette Saenz Organizations: New, New York CNN, Gulf Coasts, International Longshoremen’s Association, ILA, United States Maritime Alliance, American Farm Bureau, “, Business, Labor, National Economic Council, CNN, Union, Labor Department Locations: New York, Gulf, Maine, Texas, of New York, New Jersey, Port Wilmington, Delaware, Port, Baltimore, West Coast, Taft

☆ America is facing a nightmare scenario with a looming strike and wrecked infrastructure after Hurricane Helene
▼ + stars: | 2024-09-30 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

A port strike and the effects of Hurricane Helene could slow the US's transport of goods. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . JPMorgan analysts have estimated that the costs of shutdowns related to the strike could reach $5 billion a day. "The timing of the strike is especially concerning, as the US economy has seen progress in lowering inflation," Mousavian said. Meantime, Angela Blanchard, Houston's chief recovery and resilience officer, argued on X that the response to and recovery from the hurricane would be "significantly impeded" by a strike.

Persons: Hurricane, —, Hurricane Helene, Jon Davis, Amir Mousavian, Mousavian, Jason Greer, haven't, We're, Greer, Angela Blanchard, Houston's, Blanchard Organizations: Service, Longshoremen's Association, JPMorgan, Federal Reserve, University of New England's College of Business, Shipping, Greer Consulting, National Labor Relations Board Locations: Hurricane, Asheville , North Carolina, East Coast, Gulf, Florida , Georgia, North Carolina, West

☆ U.S. East Coast port strike set to start Tuesday, union says
▼ + stars: | 2024-09-29 | by ( ) www.cnbc.com time to read: +1 min

A port strike on the U.S. East Coast and Gulf of Mexico will go ahead starting on Tuesday, the International Longshoremen's Association union said on Sunday, signaling action that could cause delays and snarl supply chains. "United States Maritime Alliance ... refuses to address a half-century of wage subjugation," the union said in a statement. The United States Maritime Alliance, known as USMX, represents employers of the East and Gulf Coast longshore industry. If union members walk off the job at ports stretching from Maine to Texas, it would be the first coast-wide ILA strike since 1977. Presidents can intervene in labor disputes that threaten national security or safety by imposing an 80-day cooling-off period under the federal Taft-Hartley Act.

Persons: Joe Biden, Hartley, Taft Organizations: U.S ., International Longshoremen's Association, United States Maritime Alliance, ILA Locations: U.S . East Coast, Gulf of Mexico, East, Gulf Coast, Maine, Texas, Taft

☆ As ports strike nears, union warns that companies like Walmart, Ikea and Home Depot will be left with few to no import options
▼ + stars: | 2024-09-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

These companies are among the leading importers at the 14 major ports that an ILA strike would impact, according to ImportGenius. Out of the 85,000 members, 50,000 would go on strike at the 14 ports that are subject to a master contract that has not been negotiated. Separately, the Port of Montreal union affiliated with the Canadian Union of Public Employees issued a 72-hour notice that its own three-day strike starts on Monday, Sept. 30. Robinson, tells CNBC this strike could exacerbate the U.S. port strike disruption. "We'll shut them down," Daggett said in a recent video message to union members.

Persons: ImportGenius, Peter Sand, James McNamara, Mia Ginter, Robinson, Ginter, Harold Daggett, Daggett, William George, Biden, Taft, Hartley, USMX, McNamara, Maersk Organizations: International Longshoremen's Association, LG Electronics, Walmart, Ikea, Samsung, ILA, Cruise, Brothers, Port, Canadian Union of Public Employees, CNBC, U.S, Home Depot, Hyundai, General Motors, Dollar, . Tire, Michelin, Goodyear, Continental Tire, Glovis, Samsung Electronics, IKEA, US Maritime Alliance, NLRB, Reuters, Biden, Georgia Ports Authority, U.S ., Gulf, Mitre Locations: East Coast, Gulf Coast, Canada, West Coast, West, Coast, Great Lakes, Montreal, C.H, Port of Montreal, of Los Angeles, Lading, New York, New Jersey, Baltimore, Savannah, Houston , North Carolina, South Carolina, Virginia, New Orleans, Glovis America, In Savannah, Georgia, South, America, Newark, Maine, Texas, Boston , New York, Philadelphia, Wilmington, Norfolk, Charleston, Jacksonville, Tampa , Miami , New Orleans, Mobile, Houston, Gulf, NY, NJ, U.S . East Coast, Port of New York

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