DIRS.INFO The most relevant business & tech news

☆ 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

☆ Big oil is racing to scale up carbon capture to slash emissions but the challenges are immense
▼ + stars: | 2024-04-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +14 min

Some climate activists accuse the industry of simply investing in carbon capture as way to extend the use of oil and gas. The technology typically uses chemical absorption to capture carbon dioxide emitted from the chimney of an industrial plant. "The economic viability of carbon capture and sequestration is a challenge today because the cost of building most plants in order to capture carbon dioxide are very significant," the executive said. About two-thirds of the industry's carbon dioxide emissions come from chemical reactions that occur when breaking down limestone. SLB this month announced a nearly $400 million investment in Aker Carbon Capture, a pure-play carbon capture company based in Norway, in an effort to accelerate deployment of the technology at commercial scale.

Persons: Chin Lee, Biden, SLB, Fred Majkut, Majkut, Adam Miklos, Miklos, Baker Hughes, Olivier Le Peuch, Alessandro Bresciani, Jeff Gustavson, Gustavson, steelmaker Nucor, Linde, Dan Ammann, Ammann, Fatih Birol, We're, SLB's Majkut Organizations: Chevron, Houston Chronicle, Hearst Newspapers, Department of Energy, RTI International, International Energy Agency, Exxon, Rystad Energy, Clean Investment Monitor, United Nations ., Gulf Coast, CF Industries, Talos Energy, Carbonvert, IEA Locations: Winnie, Mississippi, Vicksburg, Schlumberger, United States, Paris, Chevron, United Kingdom, U.S, Aker, Norway, Houston, Port Arthur , Texas, Gulf, Louisiana, Beaumont , Texas, Mississippi , Louisiana, Texas, Bayou, Port Arthur

☆ What’s the best diet for weight loss?
▼ + stars: | 2024-04-06 | by ( Andrea Kane | ) edition.cnn.com time to read: +7 min

We delve into a wide range of topics, including the truth about menopausal weight gain and new weight loss drugs. (CNN) — With dieting, the conventional wisdom says a person needs to be in calorie-deficit mode to lose weight. If you eat more calories than you burn, you gain weight; if you eat fewer calories, you lose weight. — some people will lose weight, and others will gain. Show yourself some compassionAcknowledge it’s not easy to change eating habits to lose weight.

Persons: Sanjay Gupta, ” Christopher Gardner, Farquhar, Gardner, ” Gardner, ”, you’re, “, ‘, Don’t, it’s, Jameela Jamil Organizations: CNN, Stanford University, Stanford Prevention Research, JAMA, Netflix, American Heart Association, American College of Cardiology, Obesity Society

☆ Comic featuring Superman’s first ever appearance sells for record $6 million
▼ + stars: | 2024-04-05 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —A 1938 comic featuring Superman’s first appearance sold for $6 million at auction on Thursday, becoming the most expensive comic ever, according to Heritage Auctions, which handled the sale. And despite its age, this comic was still in very good condition, with rich colors and a little wear at the top. Only two other unrestored copies exist in better condition, Heritage Auctions said, and only 100 in total are estimated to survive out of the 200,000 originally printed. The comic was in remarkably good condition for its age. Other copies have also sold for record-breaking prices, including one in 2021 that went for $3.25 million and became the most expensive ever comic at the time.

Persons: Barry Sandoval, Jerry Siegel, Joe Shuster, Lois Lane, ” Organizations: CNN, Heritage, Heritage Auctions, CGC Comics

☆ Free trade flaws fueled Trump's rise in 2016 — and the problems remain, top economist says
▼ + stars: | 2024-04-05 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Decades of trade deficits and a strong dollar created too many "losers" in the U.S. economy who turned to Donald Trump's protectionist policies, according to Richard Koo, chief economist at the Nomura Research Institute — and those conditions remain. Trump's "America First" economic policies led his administration to institute a slew of trade tariffs on China, Mexico, the European Union and others, including slapping 25% duties on imported steel and aluminum. These policies have drawn widespread criticism from economists, who argue that tariffs are counterproductive, as they make imported goods more expensive for the average American. "When we studied economics and free trade, in particular, we were taught...that free trade always creates both winners and losers in the same economy, but the gain that winners get is always greater than the loss of the losers, so the society as a whole always gains. So that's why the free trade is good," he noted.

Persons: Donald Trump, Jonathan Diller, Donald Trump's, Richard Koo, Trump, Steve Sedgwick, Koo Organizations: U.S, New York City Police Department, NYPD, Nomura Research Institute, European Union, Republican Locations: New, Rockaway, Queens, Massapequa Park , New York, U.S, China, Mexico

☆ Biden to Visit Site of Baltimore Bridge Collapse on Friday
▼ + stars: | 2024-04-05 | by ( Erica L. Green | ) www.nytimes.com time to read: +1 min

President Biden plans on Friday to visit the site of the Baltimore bridge that collapsed after a colossal cargo ship plowed into it last week, killing six people and severing a major shipping and transportation artery. During his visit to the wreckage of the Francis Scott Key Bridge, Mr. Biden will take an aerial tour, receive briefings on the response efforts and meet with the families of construction workers who were plunged into the Patapsco River along with the structure. Mr. Biden is set to encounter a more than mile-long tangle of concrete and steel that has snarled traffic, devastated blue-collar communities and disrupted operations at one of America’s biggest ports, threatening chaos that could ripple across supply chains. The president has already pledged federal support to help the city recover from the March 26 catastrophe, including a vow to “pay for the entire cost of reconstructing” the bridge “as soon as humanly possible.” It was unclear whether he would announce new measures during his visit, such as an emergency funding package that would need congressional approval. Some Republicans have already rebuffed his promise to pay the entire bridge cost.

Persons: Biden, Francis Scott Key Organizations: Republicans Locations: 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

☆ Plan to Stash Pollution Beneath the Sea Could Save Money and Jobs
▼ + stars: | 2024-04-04 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

The manufacturing plants are of little interest to the many tourists who help sustain the area’s economy, but these sites employ tens of thousands of people. The factories, like others in Europe, face increasing pressure from regulators to reduce the climate-altering gases that their operations produce. “We are very scared about the future of our industries,” said Michele De Pascale, the mayor of Ravenna. “We have to reach this goal to reduce CO2 emissions, but we want to do it without destroying our industries,” he said. Italy’s energy giant, Eni, which has a large presence in Ravenna, is pushing a plan that the mayor says could help preserve the region’s heavy industries: create an industrial pollution collector.

Persons: Dante, ”, Michele De Pascale Organizations: Eni Locations: Ravenna, Europe, “

☆ Taipei 101: How Taiwan’s tallest skyscraper withstands earthquakes
▼ + stars: | 2024-04-04 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

But in a triumph of modern engineering, the soaring Taipei 101, once the world’s tallest skyscraper, emerged from the island’s latest seismic event undamaged. A 660-ton spherical device called a tuned mass damper swings like a giant pendulum in the skyscraper's upper floors. “It’s essentially a very large counterweight,” explained Stefan Al, author of “Supertall: How the World’s Tallest Buildings Are Reshaping Our Cities and Our Lives,” in a phone interview. “In the case of Taipei 101, it’s 660 tons. Lee & Partners, Taipei 101 was the world’s tallest building from 2004 until 2007, when it was surpassed by the Burj Khalifa in Dubai.

Persons: Richard Chung TW, “ It’s, ”, Stefan Al, “, it’s, ” Al, Al, Lee Organizations: CNN, National Fire Agency, Lee & Partners Locations: Taiwan, Hualien County, Taipei, New York, Burj Khalifa, Dubai, ”, Indonesia, Chile

☆ North America's largest steel mill has a plan to reduce emissions and it's a perfect example of why carbon capture is so controversial
▼ + stars: | 2024-04-04 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +7 min

US Steel's plant in Gary, Indiana, aims to deploy carbon capture to reduce its carbon footprint by 2026. Climate groups and some scientists say carbon capture is unproven and will worsen global warming. If completed, the project would be the first commercial carbon capture at a steel plant. A 3D rendering of where CarbonFree's carbon capture technology will attach to US Steel's mill. "It's not a viable pathway to decarbonize GaryWorks," Inskeep said of carbon capture.

Persons: Erika Chan, It's, CarbonFree, Martin Keighley, Keighley, —, Ben Inskeep, Inskeep, GaryWorks, We've, hasn't, Chan, Joe Biden Organizations: Service, US Steel, Keighley, Citizens Action Coalition of Indiana, Steel, Cleveland Cliffs, Department of Energy, Nippon Steel, The United Steelworkers Locations: Gary , Indiana, Lake Michigan, GaryWorks, Indiana, Gary, East Arkansas, Cleveland, Ohio, Pennsylvania

☆ Could decaf coffee cause cancer? Experts weigh in
▼ + stars: | 2024-04-04 | by ( Kristen Rogers | ) edition.cnn.com time to read: +8 min

Here’s what experts and the FDA say about this clause in the modern context, and what you should know about the safety of decaf coffee. “There is more information on the toxicity of methylene chloride and the levels at which it causes this toxicity,” she added. Then there is the Swiss Water Process, which decaffeinates the beans by soaking them in warm water. The Clean Label Project, an organization that tests consumer products for hidden industrial and environmental contaminants, has detected methylene chloride in several brands of coffee. What you can do nowWhether or not the FDA eventually bans methylene chloride is a decision that could take years.

Persons: Maria, Monique Richard, ”, Richard, wasn’t, ” Richard, Richard said, Dunkin Organizations: CNN, Food and Drug Administration, Occupational Safety, Health Administration, National Institutes of Health’s, Toxicology Program, Environmental Protection Agency, World Health Organization, Environmental Defense Fund, FDA, US Centers for Disease Control, EPA, Federal Food, Nutrition, maté Locations: California, Tennessee

☆ When the Rubin Museum Was Divine
▼ + stars: | 2024-04-04 | by ( Holland Cotter | ) www.nytimes.com time to read: 1 min

The Guggenheim’s mother ship interior is such a thrill that it prepares you to love whatever’s on view. The interiors of the Frick and the Morgan are intimate enough to make you feel proprietarily, and fabulously, at home. The Rubin Museum of Art also has design and art going for it. Housed in what was once the women’s wear wing of Barneys New York, it retains the store’s six-story steel-and-marble spiral staircase, and turns spaces conceived for leisurely shopping into ideally scaled galleries. And the kind of art gathered in those galleries is, in its concentration, like nothing else in town.

Persons: Frick, Morgan Organizations: Rubin Museum of Art, Barneys Locations: Barneys New York, Himalayan Asia, India, China, Tibet

☆ Jimmy Kimmel says his trip to Japan last week made him realize that the US is a 'filthy and disgusting country'
▼ + stars: | 2024-04-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Read previewLate-night host Jimmy Kimmel said observing hygiene standards in Japan has drastically changed his perspective of cleanliness in the US, and joked that he's "never felt dirtier" in his home country. Kimmel said on Tuesday evening episode of "Jimmy Kimmel Live" that before going to Japan on a seven-day family trip, he thought the US was "pretty buttoned-up" despite having areas for improvement. "But now, after traveling to Japan, I realize that this place, this USA we're always chanting about, is a filthy and disgusting country," he said. In 2019, a Japanese toll operator installed public toilets on the Central Nippon Expressway that could measure driver fatigue. Kimmel is one of tens of millions to recently visited Japan on holiday.

Persons: —, Jimmy Kimmel, Kimmel, loos, Garner's, I've Organizations: Service, Business, Central Nippon, Japanese, Germany, FIFA Locations: Japan, USA, Tokyo, Kyoto

☆ Inside Y Combinator's 60,000-square-foot, San Francisco college town
▼ + stars: | 2024-04-03 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

The full-blown mania in artificial intelligence is bringing tech workers and startups back to San Francisco. Last June, the startup accelerator moved its headquarters from Mountain View into its new digs at the Pier 70 shipyard. Y Combinator partners record an episode of the Lightcone podcast in a production studio complete with professional cameras and lighting fixtures. Y CombinatorRemoving 'friction'For 17 years, Y Combinator set its base in Mountain View. The new San Francisco outpost was born from a desire to get founders in person again post-pandemic.

Persons: —, Jared Friedman, hasn't, Y Combinator Friedman, Y, Friedman, Carlos Avila Gonzalez, Bart, Lindsay Amos Organizations: Service, Volkswagen, Business, Chase, San, Rail, San Francisco Chronicle, Bay Area, YC Locations: San Francisco, Mountain View, San, bayside, View, Mission Bay, Bay, North Beach

☆ Top performing investor doubts Nvidia is really worth this much, buying 2 unusual stock plays instead
▼ + stars: | 2024-04-03 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

"If you look at AI stocks or Nvidia in particular … Nvidia's a phenomenal company, massive revenue growth, massive earnings growth, but there's a question — how wonderful are they? Miller said Nvidia is inherently different from companies such as Microsoft and Apple, which he thinks are worth their $2 billion valuations. Nvidia shares more than tripled in 2023 as investors flocked into the AI darling. Metallurgical coal companies are trading very cheaply alongside their thermal coal peers since investors are "throwing the baby out with the bathwater," Miller said. "There's going to be more metallurgical coal used over the next three to five years, but there's no new supply coming online."

Persons: David Miller, Miller, haven't, there's, Morningstar Organizations: Nvidia, Catalyst Funds, CNBC, Microsoft, Apple, Alpha Metallurgical Resources, Metallurgical Locations: U.S

☆ As California wildfire season nears, startup BurnBot is working on a high-tech approach to prevention
▼ + stars: | 2024-04-02 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

In South San Francisco, a small startup is working on a high-tech approach to wildfire prevention. Anukool Lakhina and Waleed "Lee" Haddad founded BurnBot in 2022 to develop robotics and remote-controlled vehicles that can munch up and burn away invasive plants or other dry vegetation that can fuel fires if left fallow. Like other agricultural and construction equipment, the RX rolls forward on tank-like tracks and wheels, which enable it to maneuver through rough fields. The chambers of the BurnBot RX also trap and torch away the smoke that comes from burning vegetation, so it doesn't pollute the air in surrounding communities. When the torching is done, the RX sprays water repeatedly to extinguish any remaining embers.

Persons: Lakhina, Waleed, Lee, Haddad, BurnBot, munch Organizations: Ventures Locations: California, South San Francisco, BurnBot

☆ In Kyoto, Five Hotels to Add to Your Travel Wish List
▼ + stars: | 2024-04-01 | by ( John Wogan | ) www.nytimes.com time to read: +1 min

Andre Fu, the interior designer behind hotels like the Upper House in Hong Kong and Villa La Coste in Aix-en-Provence, France, has infused his signature aesthetic (extravagantly refined, with warm woods and luxurious textures) within the confines of a particularly historic area of Kyoto. The 161-room Mitsui, opened in late 2020, sits across from Nijo Castle, an enormous 17th-century compound and a UNESCO World Heritage site. It’s in stark contrast to the hotel, whose only timeworn element is an imposing entrance gate — a traditional wood structure over 300 years old and a remnant of the days when the Mitsui family lived on the grounds. Once past the gate, you’ll find a glass-and-steel building, designed by the Japanese architect Akira Kuryu, and landscaping that’s meant to echo the original garden pathways of the Mitsui residence, planted with cherry trees and steppingstones that meander above a glassy pond. Rooms from about $1,360 a night.

Persons: Andre Fu, Villa, Mitsui, Akira Kuryu, Tetsuya Asano Organizations: Villa La Coste, Mitsui, UNESCO, Ritz Paris Locations: Hong Kong, Aix, Provence, France, Kyoto, Nijo

☆ Lou Conter, Last Survivor of the Battleship Arizona, Dies at 102
▼ + stars: | 2024-04-01 | by ( Richard Goldstein | ) www.nytimes.com time to read: +1 min

Lou Conter, the last known survivor of the battleship Arizona, which sank with the loss of 1,177 sailors and Marines in Japan’s sneak attack on Pearl Harbor, plunging the United States into World War II, died on Monday at his home in Grass Valley, Calif. “The ship was consumed in a giant fireball,” he wrote in his memoir, “The Lou Conter Story: From U.S.S. Arizona Survivor to Unsung American Hero” (2021), a collaboration with Annette C. Hull and Warren R. Hull. Mr. Conter, who was knocked forward but uninjured, tended to survivors, many of them blinded and badly burned. Only 93 of those who were aboard the ship at the time lived; 242 other crew members were ashore.

Persons: Lou Conter, Louann Daley, Conter, ”, Annette C, Warren R Organizations: Associated Press, U.S.S . Arizona Survivor, Unsung, Hull Locations: Arizona, Pearl, United States, Grass Valley, Calif, Honolulu , Hawaii, U.S.S .

☆ As crews work to lift first piece of Baltimore bridge debris, officials eye a temporary channel around the collapse site
▼ + stars: | 2024-03-31 | by ( Dalia Faheid | ) edition.cnn.com time to read: +6 min

CNN —Crews are working to remove the first portion of Baltimore bridge wreckage – the starting point in a complicated, extensive cleanup process that could help open up a temporary channel to get more vessels into the water around the collapse site, officials said. In the meantime, conditions in the water make it unsafe for divers as pieces of the bridge remain submerged in the water. The port “handles more cars and more farm equipment more than any other port inside this country,” the governor said. Plus, “at least 8,000 workers on the docks have jobs that have been directly affected” by the collapse. In order to reopen the port, the Coast Guard says it will first clear debris from the deep draft channel, remove the ship, then clear debris from the bridge across the waterway.

Persons: CNN — Crews, Wes Moore, It’s, Francis Scott Key, Baltimore Mayor Brandon Scott, Moore, ” Moore, Shannon Gilreath, you’ve, ”, it’s, ” Gilreath, Al Drago, Roland L, Butler, Mark Martin, ” Martin, Martin, “ Organizations: CNN, ”, ” Maryland Gov, Authorities, Baltimore Mayor, US Coast Guard, Coast Guard, Baltimore Gas and Electric Company, Bloomberg, Getty, SalvOcean Locations: Baltimore, ” Maryland, Maryland, Port of Baltimore, “, Patapsco, Baltimore Harbor

☆ Here are the 6 California Republicans up for reelection whose competitive districts could determine the House majority in 2024
▼ + stars: | 2024-03-31 | by ( John L. Dorman | Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

And it is in these districts, from the Central Valley to the outskirts of Los Angeles and down to Orange County, where the House majority will likely be won or lost in 2024. Republicans currently hold a slim 218-seat majority, a precarious position for the party as the 213-member House Democratic Caucus works to flip the chamber this year. Tom Williams/CQ-Roll Call, Inc via Getty ImagesKen Calvert, 41st DistrictFirst elected to the House: 1992AdvertisementCalvert is the longest-serving California Republican in Congress. Calvert won most of his races by large margins before redistricting, and he last faced a truly competitive reelection fight in 2008. Valadao's return to Congress was overshadowed by his decision to become one of 10 House Republicans to vote to impeach President Donald Trump in the aftermath of the Capitol riot.

Persons: —, Kevin McCarthy —, Joe Biden, Young Kim, Bill Clark, Kim, Ed Royce, Gil Cisneros, McCarthy, Cisneros, Biden, She'll, Joe Kerr, Michelle Steel, Harley Rouda, Rouda, Dana Rohrabacher, Steel, Jay Chen, Derek Tran, Mike Garcia, Tom Williams, Garcia, Katie Hill, Christy Smith, Smith, George Whitesides, Ken Calvert, Calvert, he's, Will Rollins, Rollins, John Duarte, Duarte isn't, Duarte, Jim Jordan's, Jordan, Mike Johnson of, Democrat Adam Gray, Gray, David Valadao, Valadao, TJ Cox, Valadao's, Donald Trump, Rudy Salas, Salas Organizations: Service, Golden State, Business, Republicans, Democratic Caucus, Inc, Getty, California State Assembly, GOP, Democratic, Navy, Biden, NASA, onetime Virgin Galactic, District, California Republican, Republican, House Democrats, Democrat, Trump, Democratic Rep, Capitol Locations: California, Bakersfield, Golden, Los Angeles, Orange County, Orange, Riverside, San Bernardino, Steel, Los Angeles County, Riverside County, Congress, Inland, Corona, Mike Johnson of Louisiana

☆ Russia could turn on Putin as the nation's economic strength wanes and sanctions keep tightening, economists say
▼ + stars: | 2024-03-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Russia's economic strength is likely to wane this year, economists say. Putin's economic fantasyThe tailspin Sonnenfeld, Tian, and Guriev are predicting seems contradictory to what Russia is presenting on the surface. Russian inflation is also high, clocking in at 7.58%, according to data from Russia's economic ministry. Guriev doesn't believe Russia's economy will completely unravel, as central bankers will work hard to limit the damage. Advertisement"It's unlikely the Russian economy will spiral into a macroeconomic meltdown, and that the Russian political system will," he said.

Persons: Putin, Joe Biden, —, Vladimir Putin, Jeffrey Sonnenfeld, Steven Tian, Tian, Trump's, Sergei Guriev, Sonnenfeld, he's, Guriev, Putin's Organizations: Service, Yale, London Business School, Russia Locations: Russia, Ukraine, Russian, Moscow, Soviet

☆ How Maersk grew its shipping empire and how it’s evolving
▼ + stars: | 2024-03-30 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Each year about 90% of world trade is transported by ship, according to the World Economic Forum. With its fleet of over 670 vessels, Maersk , one of the world's largest shipping companies, transports about one in five of those containers. The company logged record profits in 2022 due in part to pandemic-induced buying and higher freight rates. It also chartered the vessel that crashed into the Francis Scott Key Bridge in Baltimore earlier this week. CNBC examines the issues facing Maersk, and its rivals Hapag-Lloyd and MSC, and looks at how the company is trying to transition for future growth.

Persons: Francis Scott Key Organizations: Economic, International Longshoremen's Association, CNBC, Maersk, Hapag, Lloyd, MSC Locations: Panama, North America, Baltimore

☆ 1 in every 13 bridges in America is in ‘poor’ condition. Thousands could collapse from a collision
▼ + stars: | 2024-03-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

A container ship colliding into the Francis Scott Key Bridge in Baltimore is drawing attention to potential vulnerabilities among some of America’s more than 600,000 bridges. The Key Bridge stood for 47 years, and in that time it never received the sort of jolt that anyone could have thought would bring it down. Extreme weather events, increasingly heavy trucks and collisions from larger container ships pose significant risks to US bridges, engineers and other infrastructure experts say. The Key Bridge was “fracture critical,” the National Transportation Safety Board said Wednesday. To minimize the potential of ships bringing down bridges, bridges need to be built with what are known as redundancies— protections around bridges’ danger points.

Persons: Francis Scott Key, Dali, Ananth Prasad, Prasad, ”, Jessie Yeung, Curt Devine, Casey Tolan, Isabelle Chapman Organizations: American Society of Civil Engineers, Congressional Research Service, National Transportation Safety, World Association, Transport Infrastructure, Florida Transportation Builders ’ Association, CNN Locations: Baltimore, America, United States, China, Argentina, Florida

☆ Reopening the Port of Baltimore could take weeks as colossal wreckage cleanup gets underway, officials say
▼ + stars: | 2024-03-30 | by ( Dalia Faheid | Aditi Sangal | ) edition.cnn.com time to read: +6 min

CNN —It could take weeks for the Port of Baltimore to reopen as an arduous cleanup process to clear the massive wreckage from this week’s catastrophic bridge collapse begins, leaving commuters and workers in limbo and supply chains in disarray, officials said. More than 1,000 engineers in Baltimore and across the country are studying the wreckage piece-by-piece to figure out the best plan to remove it. To help with this massive task, more heavy equipment is expected at the scene in the coming weeks. The port is the largest in the US for cars and light trucks, handling a record 850,000 vehicles last year, Moore said. “Our economy depends on the Port of Baltimore and the Port of Baltimore depends on vessel traffic,” Moore said Friday.

Persons: –, Francis Scott Key, Crews, “, ”, Scott Spellmon, Spellmon, Wes Moore, ” Moore, Moore, that’s, Mark Schiefelbein, Gustavo Torres, …, ” Torres, Alejandro Hernandez Fuentes, Dorlian Ronial Castillo Cabrera, Miguel Luna, Suazo Sandoval, Carlos Hernández, Hernández, Jazmin Alvarez, Lucia Zambrano, ” Zambrano, – Jose Mynor Lopez –, Isabel Franco, Lilly Ordonez, Franco Organizations: CNN, Port, US Army Corps of Engineers, Coast Guard, Maryland Gov, Workers, Authorities, CASA, AP CASA, Univision, Univision she’s Locations: Port of Baltimore, Baltimore, Maryland, America, Mexico, Guatemala, El Salvador, Honduras, Dundalk , Maryland

☆ Investor Tribeca presents Glencore with ideas to raise shareholder value – How it may unfold
▼ + stars: | 2024-03-30 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Tribeca has been a shareholder of Glencore for seven years and has been engaging with management for a year. The company has excellent core asset quality in copper, zinc and coal, as well as a world-leading commodity trading business. Notably, Bluebell Capital Partners agitated for a demerger of Glencore's thermal coal business in 2021. However, in 2023, after acquiring a 77% interest in Teck's steelmaking coal business, Glencore stated its intention to demerge its combined coal and carbon steel businesses. The same can be said for the divestment of the trading business.

Persons: Glencore, David Aylward, Gary Nagle, astutely, Berkshire Hathaway, Ivan Glasenberg, Ken Squire Organizations: Glencore, Tribeca Investment Partners, Tribeca, Financial Times, Australian Securities Exchange, London Stock Exchange, BHP, Rio Tinto, Bluebell Capital Partners, LSE, Rio, NYSE, 13D Locations: Switzerland, Australia, Africa, South America, Sydney, Melbourne, Singapore, London, Tribeca, Glencore, Swiss, Rio, Europe, cyclicality, Berkshire

Search resuls for: "" Nippon Steel"

25 mentions found