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☆ Massive port strike could have 'devastating consequences' for consumers, expert says
▼ + stars: | 2024-10-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Port of Miami dockworkers strike near the port entrance and demand a new labor contract, on October 1, 2024 in Miami, Florida. Giorgio Viera | Afp | Getty ImagesU.S. port strike could cause inflationOverall, the U.S. economy has notched steady progress in lowering inflation, but in most cases price increases are only slowing — not falling outright. However, "the port strike could cause renewed goods-side inflation," she said. At the time, goods weren't hitting the shelves as quickly as consumers wanted them, which drove up prices. The U.S. port strikes could have a similar effect, "setting up a scenario reminiscent of the pandemic-era logistics crisis," Saidel-Baker said.

Persons: Giorgio Viera, Lauren Saidel, Baker, Lisa DeNight, Newmark, CNBC's, Amir Mousavian, Mousavian Organizations: Afp, Getty, Bureau of Labor Statistics, ITR, ILA, United States Maritime Alliance, University of New England's College of Business Locations: Miami, Miami , Florida, U.S

☆ 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

☆ 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

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

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

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

☆ 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

☆ 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

☆ 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

☆ Port strike could reignite inflation, with larger economic impact dependent on how long it lasts
▼ + stars: | 2024-10-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Port of Miami dockworkers strike near the port entrance and demand a new labor contract, on October 1, 2024 in Miami, Florida. One rule of thumb is that for each strike day, it takes nearly a week to get ports operating at normal levels. watch now"We think fears around the potential economic impacts are overdone," wrote Bradley Saunders, North America economist at Capital Economics. "Frequent shocks to supply chains in recent years have left producers more attuned to the risks of running low inventories. "There is little chance that the administration would risk jeopardizing its recent economic successes less than two months before a tightly-contested election," he said.

Persons: Giorgio Viera, Joe Biden, Taft, Hartley, Joseph Brusuelas, Andrew Hollenhorst, Bradley Saunders, Saunders, there's Organizations: Afp, Getty, International Longshoreman's Association, U.S . Maritime Alliance, Labor, RSM, Atlanta Federal Reserve, Citigroup, New, New York Fed, Capital Economics, ILA Locations: Miami, Miami , Florida, East, Gulf, U.S, United States, West Coast, New York, North America

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

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

In a statement, the company said it was no longer operating, extended its condolences to relatives of the victims, and noted it has cooperated with the Coast Guard and National Transportation Safety Board investigations. Neubauer said the testimony gave important insight into the potential motivation in Rush and his company. Peter Girguis, a Harvard University professor and oceanographer who monitored the hearing, told CNN evidence of Rush’s ego-driven approach and heedlessness to repeated safety concerns appears to loom large in the disaster. Specifically, the letter alleged the language on OceanGate’s website was “confusing and misleading” and implied the Titan was “classed,” meaning certified to industry standards. The letter took issue with OceanGate’s decision not to try to get the Titan classified.

Persons: Jason Neubauer, ”, OceanGate, Stockton, Rush, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, Neubauer, …, Peter Girguis, “ Stockton, ” Girguis, ” Neubauer, Karl Stanley, Stanley, ” Stanley, “, ” Donald Kramer, Stockton Rush, He’s, Amber Bay, Phil Brooks, OceanGate’s, Brooks, couldn’t, –, William Kohnen, Kohnen, ” Kohnen, ” Rush, CNN’s Dakin Andone, Eric Levenson Organizations: CNN, Coast Guard, Titan, Marine Board, Stockton Rush, Authorities, Atlantic, Marine Board of Investigation, National Transportation Safety, Harvard University, “ Stockton Rush, US Justice Department, National Transportation Safety Board, Justice Department, Stockton, Marine Technology Society, OceanGate Locations: Everett, Washington, English, Honduras, Stockton, Amber, paychecks, OceanGate, ‘, “ Stockton, North Charleston , South Carolina

☆ 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

☆ U.S. Coast Guard watching uptick in Russian, Chinese navy activity near Alaska
▼ + stars: | 2024-09-27 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

TAIPEI — The U.S. Coast Guard is watching an “uptick” in Chinese and Russian navy activity around Alaska and the northern Pacific but encounters to date have been very professional, a senior commander said on Friday. “Russian naval vessels, certainly we’ve seen an uptick in their presence in that particular region. And then what we also see is an uptick in PLAN, the PRC Navy, and the Russian navy working together in that region,” he said, referring to the People’s Republic of China. Tiongson said the U.S. Coast Guard had not been asked to provide escort to Philippine vessels, but had been advising and assisting in other ways. “So when I say advise and assist, we provide to the Philippine coast guard and to others is what we would do in this situation.

Persons: Andrew J, Tiongson, ” Tiongson, they’ll, ”, China’s, Thomas Shoal Organizations: The U.S . Coast Guard, U.S . Coast Guard Pacific Area, PRC Navy, U.S, U.S . Coast Guard, China’s Coast Guard Locations: TAIPEI, The U.S, Russian, Alaska, U.S, Japan, Russia, People’s Republic of China, Canada, Philippines, South China, Philippine

☆ 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

☆ Biden meets Vietnam leader to counter Hanoi’s ties with China and Russia
▼ + stars: | 2024-09-26 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

NEW YORK — President Joe Biden met with Vietnamese President To Lam for talks on Wednesday, aiming to deepen relations with the Southeast Asian country and manufacturing hub and counter its ties with China and Russia. Biden and Lam, the ruling Communist Party chief making his first visit to the U.S. as president, met on the sidelines of the United Nations General Assembly in New York. On meeting Biden on Wednesday, Lam hailed what he called Biden’s historic contribution to elevating bilateral relations. The Vietnam News Agency reported Lam told Biden that Vietnam was on the brink of a new era of development, and that it was a friend and reliable partner. “Vietnam will continue to firmly implement its foreign policy of independence, self-reliance, multilateralism and diversification,” Lam told Biden, the state media agency reported.

Persons: Joe Biden, Lam, Biden, ” Lam, Michelle Steel, “, ”, Alexander Vuving, Vladimir Putin, Murray Hiebert Organizations: YORK, Communist Party, United Nations General Assembly, U.S, cybersecurity, Vietnam News Agency, Meta, U.S . Rep, California Republican, Lam’s, NME, Hanoi, Inouye, Pacific Center for Security Studies, General, Washington, Southeast Asia, Washington’s Center, Strategic, International Studies Locations: China, Russia, New York, Vietnam, Hanoi, California, ”, United States, Hawaii, Inouye Asia, U.S, Asia, Cuba

☆ A Japanese warship sailed through the Taiwan Strait for the first time in decades, as tensions grow with China
▼ + stars: | 2024-09-26 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

Read previewA Japanese destroyer sailed through the Taiwan Strait for the first time in decades, Japan's Yomiuri newspaper reported, citing Japanese government officials. Japan's foreign affairs ministry and New Zealand's defense ministry didn't immediately respond to requests for comment. Related storiesIt's not the first time in recent weeks that international vessels have crossed the Taiwan Strait. During a press conference on Wednesday, China's foreign ministry said it was "highly vigilant on Japan's political intention behind this move." According to updates shared by Taiwan's defense ministry , China's aircraft, vessels, and ships now operate around Taiwan almost daily, sometimes crossing the median line in the strait and causing Taiwan to scramble its planes.

Persons: —, Fumio Kishida, Japan's, Yoshimasa Hayashi, didn't, Boris Pistorius, Lin Jian Organizations: Service, Yomiuri, Japan's, Defense Force, Business, - Defense Force, Kyoto, NHK, New, Australian Defense Force, German, Foreign Locations: Taiwan Strait, East, China, Taiwan, Japan, New Zealand, South China, Australian

☆ Port workers from Maine to Texas are set to strike Tuesday. Expect shortages and higher prices
▼ + stars: | 2024-09-26 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +10 min

It represents the major shipping lines, all of which are foreign-owned, as well as terminal operators and port authorities. Depending on duration, a strike could mean shortages of consumer and industrial goods, possibly driving up prices again. That labor peace has helped them capture market share from West Coast ports that have historically had more contentious labor relations. But he said the shipping lines appear unwilling to pay what it takes this time. The shipping lines realize the problem with having Biden order the union back to work, said Tirschwell.

Persons: Luke Sharrett, Patrick Anderson, ”, USMX, Harold Daggett, John McCown, containerization, Brendan Smialowski, Peter Tirschwell, “, Republican Donald Trump, ” Tirschwell, hasn’t, Jonathan Gold, ” Gold, Biden, Joe Biden, Taft, Hartley, George W, Bush, Bradley Saunders, Daggett, ’ ” Organizations: New, New York CNN, US Maritime Association, International Longshoremen’s Association, BMW, Port, Bloomberg, Getty, ILA, Anderson Economic Group, “, P Global Market Intelligence, Federal Maritime Administration, Republican, National Retail Federation, North, Capital Economics, United Auto Workers Locations: New York, Maine, Texas, East Coast, Gulf, Gulf Coast, of New York, New Jersey, Port Wilmington, Delaware, Port, Baltimore, Port of Charleston, South Carolina, Charleston , South Carolina, West Coast, Michigan, Port of Baltimore, Baltimore , Maryland, AFP, East, North American

☆ America's rivals are piling on the pressure all at once
▼ + stars: | 2024-09-26 | by ( Jake Epstein | ) www.businessinsider.com time to read: +9 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. These incidents over the past few weeks highlight how US rivals and foes are increasingly challenging the American-led global order as threats multiply worldwide. Russia, Iran, China, and North Korea have deepened their security ties as they simultaneously present Washington and its allies with new dilemmas that strain the US military. North Korea has remained firmly committed to maintaining its nuclear status and strengthening its arsenal despite intense international pressure. Much to the frustration of the US and its Western allies, North Korea has provided artillery and missiles.

Persons: —, Michael O'Hanlon, Vladimir Putin, Xi Jinping, SERGEI GUNEYEV, Putin, John Kirby, Pierre Crom, Israel, Kim Jong Un, David Lammy, AP Robert Gates, George W, Bush, Barack Obama Organizations: Service, Business, Brookings Institution, Getty, Russian Defense Ministry Press Service, Ukraine, White, National Security Council, North, renegades, North Korea —, Washington, Korean Central News Agency, Korea News Service, AP, Washington Post Locations: Russia, Iran, China, North Korea, Washington, Hawaii, Japan, Philippines, South China, Pacific, United States, America, Moscow, Russian, Kyiv, Tehran, Gulf of Aden, Gaza, Israel, Red, Korea, Ukraine, NATO, Europe

☆ An F-35 was caught on camera for the first time carrying the stealthy long-range anti-ship missiles it could need in a fight with China
▼ + stars: | 2024-09-25 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewThe US military has published photos for the first time that show a fifth-generation F-35 fighter armed with a stealthy long-range anti-ship missile. The photo, released on Monday, shows an F-35C Lightning II carrying two AGM-158C Long-Range Anti-Ship Missiles (LRASMs) during a flight test conducted earlier this month. Efforts to integrate the missile with the carrier-based variant of the advanced F-35 stealth fighter underscore the military's push to expand its anti-ship capabilities across new platforms. The military has acknowledged an increasing need for these capabilities, particularly as rivals like China strengthen their navies. The F-35 doesn't have a dedicated anti-ship missile, making the LRASM a valuable addition.

Persons: —, Lockheed Martin Organizations: Service, Ship, Naval Air, Business, US Air Force, US Navy, Air Force, Navy, Hornets, Force, ITF, Pax ITF, Lockheed, Warfare Locations: Maryland, China, Washington, Beijing

☆ Get ready for a dockworker strike that could disrupt everything from medicine to holiday gifts
▼ + stars: | 2024-09-24 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

Read previewA major maritime workers strike is looming, and it could mean a shutdown of key goods — from cars to food — across the East and Gulf Coasts. AdvertisementA strike would have widespread implications across the US, with significant shipment delays that could set off a chain reaction of disruptions. Advertisement"We are coordinating with partners across the supply chain to prepare for any potential impacts," Steve Burns, a PANYNJ spokesperson, told BI. She referred to estimates from Sea-Intelligence, which predicted that a strike would prevent 74,000 shipping containers from being unloaded each day. "Throughout the pandemic, Longshore workers never took a day off," ILA Executive Vice President Dennis Daggett said on September 20.

Persons: —, Harold Daggett, Abe Eshkenazi, USMX, Mia Ginter, Robinson, Ginter, Bethann Rooney, Jonathan Gold, Mitre, Steve Burns, Grace Zwemmer, Biden, Dennis Daggett Organizations: Service, Gulf Coasts, Longshoreman's Association, Business, ILA, Association for Supply Chain Management, National Association of Manufacturers, United States Maritime Alliance, Port Authority of New, National Retail, New Jersey, Bureau of Transportation Statistics, Oxford Economics, Intelligence Locations: East, Gulf, Gulf Coast, East Coast, Port Authority of New York, New Jersey, West Coast, New York, New, Houston

☆ Why an Alaska island is using peanut butter and black lights to find a rat that might not exist
▼ + stars: | 2024-09-23 | by ( The Associated Press | ) www.nbcnews.com time to read: +7 min

This June 2024 photo provided by Aleut Community of St. Paul Island Ecosystem Conservation Office shows a rat trap that was placed under a residential building on St. Paul Island, Alaska, after a resident reported an alleged sighting. Rodents have been removed successfully from hundreds of islands worldwide — including one in Alaska’s Aleutian chain formerly known as “Rat Island,” according to the U.S. Around the developed areas of St. Paul, officials have set out blocks of wax — “chew blocks” — designed to record any telltale incisor bites. Still, it took nearly a year to catch the last known rat on St. Paul, which was believed to have hopped off a barge. The success of what was long called Rat Island, a tract in the Aleutians roughly half the size of Manhattan, shows how effective eradication programs can be.

Persons: stow, upending, we’ve, ”, Lauren Divine, Paul, Divine, —, Paul ., Stacey Buckelew, Buckelew, Donald Lyons, “ It’s, I’ve Organizations: Aleut, St, U.S . Fish, Wildlife Service, U.S . Department, Agriculture, Fish, Alaska Maritime National Wildlife, Hawadax, National Audubon Locations: JUNEAU, Alaska, Bering, Paul, Pribilof, St, Paul Island , Alaska, U.S, Aleutians, Manhattan

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