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Latina women working full time, year-round earn 58 cents for every dollar paid to white, non-Hispanic men, according to data collected by the National Women's Law Center. That gap in pay translates to a loss of nearly $1.3 million over a 40-year career. Break that down further and Latinas lose $32,070 in wages per year, or $2,672 every month, compared with the dominant cohort. "The increase in lifetime losses and widening of the wage gap for all Latina workers, including part-time workers, is likely because white men's wages are increasing at a faster rate than other demographic groups," said Ashir Coillberg, NWLC senior research analyst. Despite the narrow improvement for full-time workers, the gap actually widens for part-time and part-year Latina workers, falling to 51 cents on the dollar compared with 52 cents last year.
Persons: NWLC, Ashir Coillberg Organizations: National Women's Law, Latina Locations: San Diego, San Diego , CA
Brashier said some clients had containers that were once destined for the Port of Savannah diverted to the Port of Norfolk in the last hours before the strike began. More than a dozen container vessels are currently waiting in the port anchorage area of Freeport, Everstream Analytics data shows. MSC, the largest containership company in the world, has diverted two vessels, according to Vizion. A container ship departs the Port of Newark for the Atlantic Ocean on September 30, 2024 seen from New York City. Christian Roeloffs, cofounder and CEO of Container xChange, said the timing of this strike is especially challenging for shippers.
Persons: Eric Adams, Spencer Platt, Biden, Paul Brashier, Brashier, Jose Luis Gonzalez, Mirko Woitzik, Lloyd, Hermann Schulte, Port, Harold Daggett, Daggett, Stew Leonard, Jr, Stew Leonard's, Leonard, Brandon Daniels, Daniels, Christian Roeloffs Organizations: International Longshoremen’s Association, ILA, Getty, International Longshoremen's Association, United States Maritime Alliance, ITS Logistics, CNBC, Trucking, Port, Portsmouth, Reuters, Dresden, Turkey East Coast Express Service, America, Schulte Group, MSC, USMX, Local, Virginia International, Walmart, Depot, Folgers Company, Nike, Container, Analytics Locations: Brooklyn, Brooklyn , New York, Gulf Coast, Savannah, Port of Norfolk, Virginia, Portsmouth , Virginia, U.S, Vizion, East Coast, Port of Norfolk , Virginia, Savannah , Georgia, Egypt, America, Charleston, Port, Freeport, Bahamas, Cristobal, Port of New York, New Jersey, Halifax, Canada, Newark, New York City, New York, Savannah , Norfolk, West Coast, demurrage, China, Israel
Media landscape shifts Most of the value in professional sports is propelled by media rights deals, and we're in an unusual sweet spot right now for sports. Still, gaining access to 11 teams' media rights is probably in the league's long-run best interest. You have the WNBA rights term worth $2.2 billion over 11 years with league expansion going from 12 to 15 teams. Media landscape shifts Most of the value in professional sports is propelled by media rights deals, and we're in an unusual sweet spot right now for sports. Still, gaining access to 11 teams' media rights is probably in the league's long-run best interest.
Persons: Alex Sherman, Jeff Zucker, Patrick Whitesell, Zucker, Scripps –, it's, Alex Michael, he's, Michael, they're, There's, Caitlin Clark, Michael said, weathers, AEW, I'm, Tony Khan —, he'd, Khan, US Networks Kathleen Finch, Max, hasn't, Finch, Rob Manfred, doesn't, CNBC's Lillian Rizzo, Craig Kilborn, Barrett, Jackson, Caitlin Clark's, You've, Soccer League's Nielsen, Tom Brady, Father, Brady, Jess Golden, Michael Jordan, Libs, Jim France, OneFootball, Lionel Messi, Jessica Pegula, CNBC's, Venu, Fubo, Venu …, Nike, Matthew Friend, John Donahoe, Elliott Hill, Sabrina Ionescu –, Jane Hali, Jessica Ramirez, AE1, Gabrielle Fonrouge, Ariel Atkins, DiDi Richards, Craig Hudson Organizations: CNBC, Endeavor, WNBA, NCAA, National Women's Soccer League, Amazon, CBS, ESPN, Scripps, NBA, Fox, NBC, Apple, Google, MLS, Clark, Warner Bros ., TNT, TBS, Warner Bros, Discovery, US Networks, Diamond Sports Group, U.S, Bankruptcy, Southern, Southern District of, Major League Baseball, Atlanta Braves, MLB, Holdings, UFC, WWE, WME Sports, ATP, Miami, NCAA Women's, Soccer, Angel City FC, NFL, Premier League, Netflix, Tech, CNBC Sport, Father Time, NASCAR, Motorsports, Major League Soccer, American, NHL, Buffalo Sabres, Bills, Disney, International Center for Law & Economics, Nike, New York Liberty, Air Force, Air Jordan, League Men's NCAA, Gonzaga, Pac, West Coast Conference, FloSports, Sports, Indiana Fever, Washington Mystics, Capital, Washington , D.C, Washington Post Locations: York City, Southern District, Southern District of Texas, OpenBet, U.S, Kobe, Washington ,
Daggett is the president of the International Longshoremen’s Association, which has nearly 50,000 union members on strike at three dozen different port facilities. This is the union’s first strike in 47 years, but Daggett participated in the previous strike as a rank-and-file dock worker. A sea of hundreds of union members parted amid cheers as made his way to the top of a small grassy knoll, with idle shipping containers as a backdrop. Unwanted attentionBut increasing attention on Daggett and the strike has brought harassment and death threats, according to a statement from the union. Members of the International Longshoremen's Association union, which represents roughly 45,000 workers, on strike outside the Port of New York and New Jersey on the first day of the strike.
Persons: Harold Daggett, Daggett, , Bryan R, Smith, “ We’re, Dennis Daggett, ” Daggett, Shawn Fain, don’t, Donald Trump, Trump, Kamala Harris, Joe Biden, Biden, Julie Su, John McCown, Shannon Stapleton Organizations: New, New York CNN, International Longshoremen’s Association, Navy, Sporting, International Longshoremen's Association, Port, Gulf Coasts, Getty, ILA, United Auto Workers, UAW, Queens, Trump, Mar, Lago, Democratic, Labor Locations: New York, East, Gulf Coasts, That’s, United States, Vietnam, Europe, Port of New York, New Jersey, Gulf, AFP, Elizabeth , New Jersey, New York City, , OpenSecrets
Melania Trump is signaling a break with the Republican Party on abortion. She is also expected to express full-throat support for abortion rights in her forthcoming memoir. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWith just over a month to go before the 2024 election, Melania Trump is splitting with the Republican Party's stance on abortion rights. Melania Trump writes, according to the outlet.
Persons: Melania, , Melania Trump, Trump, she's, Donald Trump, Roe, Wade, Kamala Harris Organizations: Melania Trump, Republican Party, Service, Republican, The Guardian, Trump
Amazon's Rufus AI chatbot answers questions about products and recommends items. The new chatbot illustrates Amazon's complicated relationship with copycat items: The company forbids selling counterfeit or illegally replicated products on its platform. Amazon has warehouses full of products that don't have brand names that people would immediately recognize but might be similar to those brands' products. In theory, Rufus should be able to help — AI should help people compare similar items and answer questions about them. For now, Amazon's Rufus probably won't.
Persons: Rufus, , It's, Maria Boschetti, Jennifer Ortakales Dawkins, Charlotte, you've, TikTokers, Amazon's Rufus Organizations: Service, Amazon, Adidas Locations: Sephora, Charlotte Tilbury, Supergoop
U.S. stock futures were flat on Thursday night as traders looked ahead to the widely anticipated release of September's jobs report on Friday morning. S&P 500 futures and Nasdaq 100 futures were also unchanged. These moves came after the major averages ended Thursday's trading session with losses. U.S. oil futures climbed about 5% Thursday, weighing on the major averages. Indeed, all three major averages are already on pace for weekly losses.
Persons: Dow Jones, Barbara Doran, I'd, it's, Doran Organizations: New York Stock Exchange, Dow Jones, Nasdaq, International Longshoremen's Association, United States Maritime Alliance, Dow, BD8 Capital Partners Locations: New York City . U.S, U.S, East, Iran, Israel
The International Longshoremen's Association and the United States Maritime Alliance reached a deal. Port employers and striking dockworkers reached a tentative agreement on wages, according to a joint statement. The strike will be suspended until January to allow time to work out the specifics of a new contract. The 62% increase would up the hourly rate for port workers from $39 to $63 in the coming years, according to the outlet. AdvertisementThe three-day strike shuttered ports across the East and Gulf Coast, disrupting the supply chain and impacting consumer items like fruits and car parts.
Persons: dockworkers, Organizations: Longshoremen's Association, United States Maritime Alliance, Service, CNN, Associated Press, Street Journal, White, The, CBS News, International Longshoremen's Association Locations: Maine, Texas, West, East, Gulf
The port workers' strike could disrupt business for big retailers, according to ImportGenius data. Walmart, Ikea and Samsung are some of the biggest importers at ports affected, the data show. JPMorgan predicted the strike could cost the US up to $5 billion daily. AdvertisementMajor retailers are pivoting their shipping plans and preparing for the financial impact of the ongoing port strike. The chart doesn't include data from shipping companies that handle cargo from multiple businesses or anonymous shipments.
Persons: , Alan Murphy, William George, General Motors, Jess Dankert, Dankert Organizations: Walmart, Ikea, Samsung, JPMorgan, Service, Intelligence, CNBC, Research, Arbor Research, Lading, Customs, Business, General, Home, Retail Industry, Association, International Longshoremen's Locations: Gulf Coast, ImportGenius, West, Maine, Texas
The dockworkers' strike threatens supply chains, while Hurricane Helene caused costly damage. Devastation from Hurricane Helene, a dockworkers' strike, and escalating conflict in the Middle East all threaten to scramble supply chains and inflate prices. How much the strike impacts prices depends on how much of a cushion companies have built to deal with any bottlenecks. Bottlenecks also encourage carriers to raise their prices, increasing retail and consumer goods prices, Kent said. The hurricane has also disrupted some supply chains, including healthcare supplies and high-purity quartz needed for semiconductor manufacturing.
Persons: Helene, , Israel ramped, Douglas Kent, Dockworkers, dockworkers, Morgan Stanley, Kent, Fazili, Lauren Saidel, Baker, she's, Biden, Hurricane Helene, Adam Kamins Organizations: Service, Association for Supply Chain Management, JPMorgan, National Economic, Biden, ITR, International Longshoremen's Association —, United States Maritime Alliance, Homeowners Locations: Israel, Iran, Hurricane, Lebanon, Maine, Texas, East Coast, Gulf, Kent, West Coast, North Carolina, Florida
I think that’s quite rare to have that, but I feel quite protected with the ‘Heartstopper’ fan base,” Finney said on a recent video call from her flat in London. Yasmin Finney and Will Gao in a scene from the Netflix series "Heartstopper." It is keyboard warriors on their phone, with a box of KFC, who are just like, ‘Oh, I hate trans people,’” Finney said. “When I finished filming season three [of ‘Heartstopper’], I just really realized that the roles that I’m getting are mostly trans. I kind of had this yearning for a connection with another kind of role,” Finney said, noting that she is still looking for that particular part.
Persons: Elle Argent, , ” Yasmin Finney, Finney, Who, , “ I’ve, ” Finney, Alice Oseman’s, Joe Locke, Kit Connor, Elle, Tao Xu, William Gao, Tao, , , Xu, Yasmin Finney, Will Gao, Samuel Dore, that’s, I’m, Russell T, Davies, Ncuti Gatwa, Rose Noble, Donna Noble, Catherine Tate, Rose, David Tennant, ’ ” Finney, “ I’m, Oseman, Heartstopper ” Organizations: Elle, Netflix, BBC, KFC Locations: United Kingdom, London, people’s, Manchester
Automation is a core issue at play in the ongoing dockworker strike at Eastern US ports. AdvertisementStriking dockworkers at US ports say they're worried that jobs could plummet as shipping companies increasingly turn to automation. Picketing workers gathered at ports in New York and Miami carrying signs reading "Machines don't feed families" and "Fight automation, Save jobs." AdvertisementThe union's objection to the way shipping companies are using automation now is a key sticking point in the negotiations for a new labor contract. The move eventually contributed to the ILA earning the unusual distinction of being a labor union being named in an unfair labor practices complaint filed by management.
Persons: , USMX, Harold Daggett, Jesus Olarte, Daggett, it's, Stephen Edwards, Dominick Organizations: Service, International Longshoremen's Association, US Maritime Alliance, Business, Port, Getty, Maersk, APM, New York Times, ILA Locations: Eastern, New York, Miami, East Coast, Anadolu, Mobile , Alabama, Port of Virginia, Norfolk, Baltimore
The US port strike on the East and Gulf Coasts could threaten farm exports amid harvest season. AdvertisementThe US port strike at East and Gulf Coast ports isn't just impacting bananas and consumer imports into the country — it could hurt America's farm exports too. Seyfert told Politico on Friday that while some farm exports can be moved to the West Coast for shipping, there's probably not enough capacity there. "A prolonged strike would force importers to seek alternative supplies, either from West Coast ports or other countries," wrote Glauber. AdvertisementLogistics experts told Business Insider's Tim Paradis that the port strike could damage the US economy badly.
Persons: Joe Biden, , Mike Seyfert, Seyfert, Joseph Glauber, Tim Paradis, Biden Organizations: Association, Service, White, Politico, Food Policy Research Institute, Logistics, United States Maritime Alliance, International Longshoremen's Association Locations: Gulf, East, Gulf Coast, West Coast, Mexico
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for Pro subscribers. Worldwide Exchange airs at 5 a.m. "The fixed income market has enough yield to bail you out if the geopolitical tensions get worse," said Hyman said on Worldwide Exchange. "Investors are not focusing on the likely U.S. response post election to replenishing defense stocks and ramping up capabilities." Worldwide Exchange Pick: Biotech Stocks Scott Ladner of Horizon Investments is seeing opportunities in the biotech sector, specifically the iShares Biotechnology ETF (IBB) and SPDR S & P Biotech (XBI) ETFs.
Persons: Simeon Hyman, Hyman, Terry Haines, Haines, Lockheed Martin, Scott Ladner, Ladner Organizations: Pro, Worldwide, Proshares Advisors, Defense, Lockheed, Raytheon, Biotech, Horizon Investments, iShares Biotechnology, P Biotech, Shipping Stocks Shipping, U.S Locations: Israel, Iran, Ukraine, South China, U.S, East, Gulf Coast
President Biden said on Tuesday that his administration will be "monitoring for any price gouging activity" that benefits foreign ocean carriers, including those on the USMX board. He also said "foreign ocean carriers have made record profits since the pandemic, when Longshoremen put themselves at risk to keep ports open." UBS forecast that 20% of Maersk's total volume would touch a U.S. port that would be impacted by the strike. Acting Secretary Julie Su lashed out at the idea that labor wage increases would be passed onto U.S. exporters and importers. I know they understand, just as consumers and American workers understand, that foreign companies who profit from our economy and who employ American workers and have an impact on American consumers should do the right thing, and in that battle, we are always going to stand with American workers, American businesses and American consumers."
Persons: Biden, Longshoremen, majeure, Daggett, Harold Daggett, Lars Jenson, Pete Buttigieg, Julie Su, Taft, Hartley, Buttigieg, Larry Lindsey, Su, Peter Friedmann, I've, nonfarm, Helene, switchers, they're, Jim Bianco, CNBC's, Peter Boockvar, Alan Baer, Steve Lamar, Taft Hartley, Lamar, CNBC's Jeff Cox Organizations: CMA, U.S, United States Maritime Alliance, Vespucci, Federal Reserve, Transportation, Labor, International Longshoremen's Association, UBS, Maersk, Federal Maritime Commission, ILA, Boeing, The Lindsey Group, Agriculture Transportation Coalition, Bianco Research, Bleakley Financial, USA, American Apparel and Footwear Association, Biden Administration, Locations: East, Gulf Coast, U.S, autoworkers
President Joe Biden called for port companies to offer fair deals to striking dockworkers. He and the acting labor secretary, Julie Su, urged dock workers and companies to negotiate. AdvertisementPresident Joe Biden and other government officials are urging port companies to offer stronger contracts to the 45,000 dockworkers on strike at East and Gulf Coast ports. The message from the Biden administration is clear: Companies need to offer a fair deal to the striking workers as soon as possible. Su said the port workers' sacrifices and importance during the pandemic and in helping communities recover from Hurricane Helene weren't fairly reflected in their salaries.
Persons: Joe Biden, Pete Buttigieg, Julie Su, , Biden, Hurricane Helene, Buttigieg, he'd, she'd, Su, Hurricane Helene weren't, Taft, Hartley Organizations: Service, JPMorgan, Federal Maritime Commission, US Maritime Alliance, International Longshoremen's Association, Associated Press, dockworkers, Department of Labor, Department of Transportation, Business Insider Locations: East, Gulf Coast, Hurricane
Levi Strauss CEO Michelle Gass told CNBC's Jim Cramer on Wednesday how the denim retailer will benefit from its partnership with Beyoncé, saying the ads could help boost sales of women's clothing. "Now you bring Beyoncé into the ecosystem, you know, we think we're just set up for the long term really, really well." The collaboration comes after Beyoncé released her newest album, "Cowboy Carter," in the spring that featured a track called "LEVII'S JEANS." She claimed wholesale, a large part of Levi's business in Mexico, was down because one of the company's "key customers" had a cybersecurity breach that impacted shipping. Gass also said that the Dockers brand has "underperformed for some time," and Levi's intends to sell the business.
Persons: Levi Strauss, Michelle Gass, CNBC's Jim Cramer, Beyoncé, Levi's, " Gass, Cowboy Carter, Gass Organizations: Destiny's, Dockers Locations: China, Mexico
That said, everyone seemed to agree that the days of logo-forward purchases and other conspicuous signs of wealth are over — even on Wall Street. The industry's movers and shakers are still into name brands but are leaning into those that exude "quiet luxury." And where there are celebrities and influencers, there tend to be Wall Street dealmakers. It's not surprising that high-earners on Wall Street would have second homes (or, in many cases, multiple). The HamptonsThe beach towns of the Hamptons have long been a Wall Street favorite thanks to their proximity to Manhattan.
Persons: , Ken Griffin, David Solomon, Goldman Sachs, Stephen Schwartzman, Blackstone, Jessica Cadmus, Cadmus, Marie Kondo —, I've, I'd, Zegna, Tom Ford, Claudio Lavenia, Van, Cartier, Jeremy Moeller, Hermes, Gucci, Jeremy Strong, Armani, Max Mara, Celine, Bottega, It's, it's, Sean Zanni, Wall Streeters Organizations: Service, Goldman, JPMorgan, Business, Paris Olympics, Bloomberg, Citadel, Anadolu, Getty, Wall Street, Street, BI, Wall, HBO, Hamptons Locations: Queens, New York, New York City, Africa, Costa Rica, Bottega Veneta, Manhattan, Montauk, Nantucket, Cape Cod, East Hampton , NY, Hudson
WASHINGTON — A dockworkers strike threatens to harm shipping, manufacturing, pre-holiday retail inventories — and Vice President Kamala Harris' bid for the presidency. They have been at an impasse with the United States Maritime Alliance, or USMX, which represents shipping and port operations companies. As polls show Harris trailing Trump on the question of who is best suited to handle the economy, the work stoppage puts Democrats in a bind. Harold Daggett, center, with picketing workers outside of the APM container terminal at the Port of Newark in New Jersey, on Tuesday. "President Trump promised to support the ILA in its opposition to automated terminals in the U.S.," Daggett said in the statement.
Persons: WASHINGTON, Kamala Harris, Harris, Tim Walz, Donald Trump's, Sen, JD Vance, Ohio, , Joe Biden, Pete Buttigieg, Julie Su, Lael Brainard, Trump, Harold Daggett, ” Daggett, Biden, Taft, Hartley, They've, Daggett, Joe Biden’s, , Michael Nagle, ” Trump, Tim Ryan, Vance, didn't, Organizations: Longshoreman's Association, Minnesota Gov, United States Maritime Alliance, Trump, ILA, AFL, Teamsters, Fox News, Democratic, USMX, APM, Port, Bloomberg, Getty, Democratic Party, Federal, Senate Locations: Gulf of Mexico, New York, Washington, Taft, U.S, Delaware, Palm Beach , Florida, Queens, Newark, New Jersey, Trump's
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
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
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
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
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
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
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