DIRS.INFO The most relevant business & tech news

☆ Rumble in the Jungle: The fight that defined a decade, 50 years on
▼ + stars: | 2024-10-30 | by ( Jamie Barton | ) edition.cnn.com time to read: +9 min

CNN —In many ways, Muhammad Ali vs George Foreman in the Rumble in the Jungle didn’t start on this day 50 years ago at 4:30 a.m. local time (10:30 p.m. It would be another three years before he was permitted a license to fight, and another seven before the Rumble in Jungle offered him a chance to reclaim his title. UPI/Bettmann Archive/Getty Images“To me, it was like a charity fight,” Foreman later told the BBC. APZairean men are seen inside the stadium in Kinshasa on October 30, 1974, just before the Rumble in the Jungle. AFP via Getty ImagesA portrait of President of Zaire Mobutu Sese Seko is seen at the stadium in Kinshasa during the fight.

Persons: Muhammad Ali, George Foreman, Don King, Mobutu Sese Seko, Africa’s, ”, Thomas Hauser, Ali’s, Ali, Foreman, Cassius Clay –, Sonny Liston, John F, Kennedy, Hauser, Cassius Clay, “, Richard Nixon, ‘ Ali, bomaye ’ Ali, Mobutu, James Brown, BB, Bill Withers –, ” Ali, “ Ali, bomaye, ” Foreman, “ I’d, Joe Frazier, Ken Norton, Gene Kilroy, Big George ”, Floyd Mayweather, Manny Pacquiao, Zack Clayton, Zaire Mobutu Sese Seko, Tyson Fury, Oleksandr Usyk, we’ve, ‘, ” Hauser, Muhammad Ali couldn’t Organizations: CNN, Democratic, CNN Sport, Beatles, International Boxing Hall of Fame, Islam, US Armed Forces, Jungle, AFP, Getty, AP, Blacks, American Blacks, UPI, BBC, Stade du Locations: Zaire, Democratic Republic of the Congo, New York, Vietnam, Louisville, Kinshasa, Africa, Black, American, Mai, AFP, Saudi Arabia

☆ 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

Workers at state-owned postal company PostNord joined the strike on Nov. 20 and stopped distributing the license plates to Tesla. The state-run transport agency turned down Tesla's request to pick up the license plates itself and also declined to send them via distribution channels other than PostNord. Tesla sued both PostNord and the transport agency in two separate lawsuits, first reported by Swedish business daily Dagens Industri. It said the refusal to deliver license plates could affect "a large number of consumers who ordered a new car from Tesla". The transport agency confirmed to Reuters on Monday that Tesla had filed a lawsuit, believing the agency had not kept its obligations to deliver Tesla's license plates.

Persons: Yves Herman, PostNord, Tesla, Metall, carmaker, Seko, Marie Mannes, Louise Breusch Rasmussen, Terje Solsvik, Bernadette Baum Organizations: REUTERS, Swedish Transport Agency, U.S, Workers, Dagens, IF Metall, Reuters, Thomson Locations: Drogenbos, Belgium, Swedish, Sweden, U.S

☆ Tesla's problems in Sweden are getting worse as dockworkers refuse to unload its EVs from ships
▼ + stars: | 2023-11-17 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

The mechanics' trade union is ramping up efforts after talks stalled again this week. AdvertisementThe labor dispute over Tesla's refusal to sign a collective wage agreement in Sweden has escalated into a dramatic labor battle. Unions representing multiple industries announced this week that they would join the strike in solidarity with IF Metall, the Tesla mechanics' trade union. The cleaners were joining the labor action "simply because the [IF] Metall Workers Trade Union asked us to," ombudsman Torbjörn Jonsson told Wired. In Germany, the largest labor union secured a 4% pay rise for 11,000 staff at Teslas Berlin Gigafactory.

Persons: Tesla, —, it's, who've, JOHAN NILSSON, Getty, Torbjörn Jonsson, IG Metall Organizations: Service, IF Metall, Metall, Workers, Union, Tesla, Wired, Metall Workers Trade Union, Teslas Berlin Locations: Sweden, Swedish, Malmo, Germany, Grünheide

☆ The global freight recession will continue in 2024: CNBC Supply Chain Survey
▼ + stars: | 2023-11-07 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

watch nowThe global shipping industry has been mired in a freight recession this year and the challenging economic conditions will continue into 2024, according to a new CNBC Supply Chain Survey. The CNBC Supply Chain Survey was conducted October 21-October 31 among logistics executives who manage freight manufacturing orders and transportation, including those at C.H. "Without more freight moving, 2024, and potentially 2025, will continue to see soft pricing as capacity outstrips demand," he said. Freight trucking will remain soft Trucking companies get paid per load, and low expectations for orders imply potentially lower revenue this holiday season. A slightly better second half 2024 outlook The survey shows expectations for a slight turnaround in freight volume in the second half of 2024.

Persons: Robinson, Kuehne, Nagel, Zhang Jingang, Alan Baer, Noah Hoffman, Jeff Bezos, Uber, Tim Robertson, Robertson, Brian Bourke Organizations: CNBC Supply Chain Survey, CNBC, Chain Survey, SEKO Logistics, DHL Global, USA, ITS Logistics, Getty, Logistics, C.H, Surface Transportation, Convoy, Tank Transport Locations: Qingdao, Shandong province, China

☆ The holiday spending outlook is sluggish across thousands of retailers: CNBC Supply Chain Survey
▼ + stars: | 2023-11-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

Photographer: Christopher Dilts/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesAs holiday shopping season begins, lack of big orders from retailers is the rule amid fears that consumer spending will be weak, according to a new CNBC Supply Chain Survey. At the CNBC Evolve Global Summit last Thursday, Target CEO Brian Cornell said the company is doubling down on its cautious outlook for the holiday season. The CNBC Supply Chain Survey was conducted October 21-October 31 among logistics executives who manage freight manufacturing orders and transportation, including those at C.H. Lunar New Year and order volumes The CNBC Supply Chain Survey underscores an overall climate of uncertainty that is defining the market right now. The freight trucking recession Trucking companies get paid per load, and the low expectations for orders imply potentially lower revenue this holiday season.

Persons: Christopher Dilts, Robinson, Noah Hoffman, Hoffman, Jeremy Barnum, Brian Cornell, Raj Subramaniam, restocking, Kuehne, Nagel, Paul Brashier, Tim Robertson, Robertson, Brian Bourke, Elmer Buchta, Jeff Bezos, Uber, Brashier, Berkshire Hathaway, Alan Baer Organizations: Bloomberg, Getty Images Bloomberg, Getty, CNBC Supply Chain Survey, North American Surface Transportation, CNBC, Global, FedEx, Chain Survey, SEKO Logistics, USA, ITS Logistics, Amazon, Maersk, Logistics, Convoy, Tank Transport, U.S ., Union Pacific, BNSF, Norfolk Southern, CSX Locations: Chicago , Illinois, C.H, U.S, China, United States, Montana, Indiana, Panama, West Coast, U.S . West Coast, Los Angeles, Berkshire, West, East Coast

☆ Euro, sterling slide versus dollar ahead of U.S. inflation data
▼ + stars: | 2023-09-13 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

The dollar index , which tracks the currency against six peers including yen, euro and sterling, held firm, though moves were subdued, up 0.13% to 104.73, as traders awaited the U.S. consumer price index (CPI) reading for August. The release comes just a week before Federal Reserve officials gather to decide on interest rate policy. The euro fell 0.2% to $1.0731 as markets raised their bets on further ECB rate hikes despite recent data showing the decline in euro zone business activity accelerated faster than initially thought last month. A source told Reuters that the ECB expects inflation in the 20-nation euro zone to remain above 3% next year, bolstering the case for a 10th consecutive interest rate increase on Thursday. YEN RETRACES GAINSThe yen fell as traders further digested comments from Japan's top central banker on a possible early exit from its negative interest rate policy.

Persons: Dado Ruvic, CME's, BoE, Stephen Gallo, Jim Reid, Deutsche Bank . Sterling, YEN RETRACES, Hiroshige Seko, Kazuo Ueda's, Ueda, Joice Alves, Brigid Riley, Alison Williams, Mark Heinrich Our Organizations: REUTERS, Sterling, European Central Bank, Federal Reserve, Federal, ECB, FX, BMO Capital Markets, U.S, CPI, Reuters, Deutsche Bank ., Bank of Japan, Fed, Thomson Locations: U.S, Japan, London, Tokyo

☆ Dollar edges up ahead of inflation reading, euro awaits ECB decision
▼ + stars: | 2023-09-13 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

The dollar index , which tracks the currency against six peers including yen, euro and sterling, held firm, though moves were subdued, up 0.1% to 104.70, as traders awaited the U.S. consumer price index (CPI) reading for August. The release comes just a week before Federal Reserve officials gather to decide on interest rate policy. Elsewhere, the euro edged 0.1% lower to $1.0742 ahead of the ECB meeting on Thursday. A source told Reuters that the ECB expects inflation in the 20-nation euro zone to remain above 3% next year, bolstering the case for a 10th consecutive interest rate increase on Thursday. YEN RETRACES GAINSThe yen fell as traders further digested comments from Japan's top central banker on a possible early exit from its negative interest rate policy.

Persons: Dado Ruvic, CME's, Jim Reid, Deutsche Bank . Sterling, YEN RETRACES, Hiroshige Seko, Kazuo Ueda's, Ueda, Joice Alves, Brigid Riley, Alison Williams Organizations: REUTERS, European Central Bank, Federal Reserve, Commerzbank, ECB, Reuters, Deutsche Bank ., Bank of Japan, Fed, Thomson Locations: Japan, London, Tokyo

☆ Dollar steady as U.S. inflation data awaited, yen retraces gains
▼ + stars: | 2023-09-13 | by ( ) www.cnbc.com time to read: +3 min

More broadly, the dollar held firm, though moves were subdued as traders awaited a closely watched U.S. inflation reading due later on Wednesday. Analysts attributed the slide to an unwinding of long dollar positions after a recent run of resilient U.S. economic data. Wednesday's U.S. consumer price index, or CPI, data for August comes just a week before Federal Reserve officials gather to decide on interest rate policy. "In recent months, European inflation, core inflation in particular, has fallen more slowly than expected. "The high inflation rate warrants another rate hike, but the economic indicators ... signal that a recession is imminent."

Persons: Kazuo Ueda, Alvin Tan, Ueda, Hiroshige Seko, Sterling, CME's, Tina Teng Organizations: Bank of Japan, Asia FX, RBC Capital Markets, Federal Reserve, U.S, Fed, CMC Markets, European Central Bank, Reuters, ECB, Rabobank Locations: U.S, Asia

☆ Dollar steady ahead of key US inflation data, yen retraces gains
▼ + stars: | 2023-09-13 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

In the broader currency market, the dollar stood firm, though moves were subdued as traders stayed on guard ahead of the closely-watched U.S. inflation reading out later on Wednesday. Wednesday's U.S. consumer price index (CPI) data for August comes just a week before Federal Reserve officials gather to decide on interest rate policy. While the central bank is largely expected to keep rates on hold at next week's meeting, according to CME's FedWatch Tool, the Fed's next move in November remains more uncertain. "In recent months, European inflation, core inflation in particular, has fallen more slowly than expected. "The high inflation rate warrants another rate hike, but the economic indicators ... signal that a recession is imminent."

Persons: Dado Ruvic, Kazuo Ueda, Alvin Tan, Ueda, Hiroshige Seko, Sterling, CME's, Tina Teng, Brigid Riley, Shri Navaratnam Organizations: REUTERS, Rights, Bank of Japan, Asia FX, RBC Capital Markets, Federal Reserve, U.S, Wednesday's, Fed, CMC Markets, European Central Bank, Reuters, Rabobank, Thomson Locations: U.S, Asia, Wednesday's U.S

☆ Factbox: Saudi transfers this summer
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Aug 22 (Reuters) - Saudi clubs have spent over 750 million euros ($813.45 million)in the close season signing players with the new Saudi Pro League season having kicked off on Aug. 11. Following are the main clubs' recent large purchases:Al-Ittihad (manager: Nuno Espirito Santo since 2022)N'Golo Kante from Chelsea. (40 million pounds)Al-Ahli (manager: Matthias Jaissle since 2023)Edouard Mendy from Chelsea. (40 million euros)Otavio from Porto. (40 million euros)Malcom from Zenit Saint Petersburg.

Persons: Nuno Espirito, N'Golo Kante, Karim Benzema, Matthias Jaissle, Edouard Mendy, Roberto Firmino, Mahrez, Allan Saint, Franck Kessie, Roger Ibanez, Merih Demiral, Luis Castro, Marcelo Brozovic, Alex Telles, Seko, Sadio Mane, Jorge Jesus, Kalidou Koulibaly, Ruben Neves, Sergej Milinkovic, Savic, Malcom, Yassine Bounou, Aleksandar Mitrovic, Steven Gerrard, Moussa Dembele, Jack Hendry, Jordan Henderson, Tommy Lund, Ken Ferris, Ed Osmond, Toby Davis Organizations: Saudi Pro League, Nuno Espirito Santo, Manchester City, AS Roma, Atalanta, Inter Milan, Manchester United, RC Lens, Bayern Munich, Wolverhampton Wanderers, Zenit Saint Petersburg, Paris St Germain, Fulham, Olympique Lyonnais, Club Brugge, Thomson Locations: Saudi, Ittihad, Chelsea, Real Madrid, Celtic, Liverpool, Al, Ahli, Manchester, Newcastle, Barcelona, Porto, Hilal, Lazio, Paris, Sevilla, Gdynia

☆ Portugal's Otavio moves to Saudi club Al-Nassr
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Aug 22 (Reuters) - Portugal midfielder Otavio has joined Al-Nassr from Portuguese side Porto, the Saudi Pro League club said on Tuesday. Huge Welcome to The Best Player in Liga Portugal," Al-Nassr posted on messaging platform X, previously known as Twitter. Otavio joins an Al-Nassr squad that also includes Cristiano Ronaldo, Sadio Mane, Marcelo Brozovic, Alex Telles and Seko Fofana. Luis Castro's team have made a poor start to the Pro League season, losing both their opening matches. The Saudi Public Investment Fund (PIF) has announced a Sports Clubs Investment and Privatisation Project involving league champions Al-Ittihad, Al-Ahli, Al-Nassr and Al-Hilal.

Persons: Otavio, Nassr, Cristiano Ronaldo, Sadio Mane, Marcelo Brozovic, Alex Telles, Fofana, Luis Castro's, PIF, Shady Amir, Toby Davis Organizations: Saudi Pro League, Porto, Portuguese, Liga Portugal, Pro League, Saudi Public Investment Fund, Clubs Investment, Al, Shady, Thomson Locations: Portugal, Porto, Ittihad, Al, Ahli, Hilal

[1/2] Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. The Panama Canal Authority has reduced maximum ship weights and daily ship crossings in a bid to conserve water. Container ships are the most common users of the Panama Canal and transport more than 40% of consumer goods traded between Northeast Asia and the U.S. East Coast. Some shipping executives are bracing for more reductions later this year, noting that in 2020 a less severe drought prompted canal operators to reduce crossings to 27 per day. "The Panama Canal is just the latest example."

Persons: Aris Martinez, Max, Drew Lerner, Peter Sand, Steve Ferreira, STRI's Steven Paton, Paton, Brian Bourke, Lisa Baertlein, Marianna Parraga, Elida Moreno, Louise Breusch Rasmussen, Deepa Babington Organizations: Monrovia NSU CHALLENGER, REUTERS, ANGELES, Evergreen Marine, Pacific, Panama Canal Authority, Northeast, U.S ., Smithsonian Tropical Research, El Nino, Central American, Canal Authority, SEKO Logistics, Thomson Locations: Cocoli, Panama, Panama City, HOUSTON, China, U.S, Northeast Asia, U.S . East Coast . U.S, United States, Chile, Brazil, Suez, Gatun Lake, El, U.S . East Coast, Los Angeles, Houston, Copenhagen

☆ Ronaldo wins first title at Al-Nassr with brace in Arab Club Champions Cup final
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

Aug 12 (Reuters) - Cristiano Ronaldo guided 10-man Al-Nassr to their first ever Arab Club Champions Cup title after scoring twice in a 2-1 extra-time win over fellow Saudi side Al-Hilal on Saturday. The tournament is played by top Arab clubs in the region and included teams from Saudi Arabia, Qatar, the United Arab Emirates, Iraq, Morocco, Tunisia and Algeria. The star-studded Al-Nassr side had many chances to score in the first half with close season signings Sadio Mane, Seko Fofana and Marcelo Brozovic all denied by goalkeeper Mohammed Alowais. To rub salt into their wounds, the 27-year-old even produced the Ronaldo goal celebration as he ran to the corner flag and leapt into the air. Ronaldo then doubled the lead in the first half of extra time when he pounced on a rebound off the crossbar and headed home with the goalkeeper off his line.

Persons: Cristiano Ronaldo, Nassr, Ronaldo, Sadio Mane, Seko Fofana, Marcelo Brozovic, Mohammed Alowais, Hilal's Malcom, Michael, Sultan, Ghannam, Abdulelah Al, Amri, Nawaf Boushal, Angelica Medina, Rohith Nair Organizations: Saudi, Saturday, Saudi Pro League, United Arab, King Fahd Sports City, Portugal, Al, Thomson Locations: Al, Hilal, Saudi Arabia, Qatar, United Arab Emirates, Iraq, Morocco, Tunisia, Algeria, Sultan Al, Mexico City, Bengaluru

☆ Senegal's Mane joins Saudi side Al-Nassr from Bayern
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Aug 1 (Reuters) - Bayern Munich's Senegal forward Sadio Mane has joined Saudi Pro League club Al-Nassr after one season with the Bundesliga champions, both clubs said on Tuesday. Mane has signed a four-year contract, Al-Nassr added on messaging platform X, formerly known as Twitter. Mane moved to Bayern last year with high hopes after netting 120 goals in 269 games for Liverpool where he won the Champions League, Premier League, FA Cup, League Cup and Club World Cup. "We want to thank Sadio Mane for the past season," Bayern CEO Jan-Christian Dreesen told the club website. Mane joins an Al Nassr outfit who have strengthened their squad since the marquee signing of Cristiano Ronaldo last term.

Persons: Sadio Mane, Mane, Nassr, Leroy Sane, Jan, Christian Dreesen, Al Nassr, Cristiano Ronaldo, Marcelo Brozovic, Seko, Alex Telles, Ahmed Musa, Rohith Nair, Anita Kobylinska, Osama Khairy, Ken Ferris Organizations: Bayern Munich's, Saudi Pro League, Al, Bundesliga, Twitter, Bayern, Liverpool, Champions League, Premier League, FA Cup, League Cup, Africa, Nations, FC Bayern, Inter Milan, Manchester United, FIFA, Leicester City, Thomson Locations: Bayern Munich's Senegal, Merseyside, Senegal, Lens, Leicester, Bengaluru, Gdansk, Cairo

☆ As back-to-school, holiday orders begin, this is what may be the new 'normal' in peak retail trade season
▼ + stars: | 2023-05-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

As peak retail trade order season nears — July is the official start of the back-to-school and holiday order inventory build that runs through October — executives in the shipping industry are keeping a watchful eye on order activity. Holiday orders are traditionally imported starting in August, with the manufacturing orders for these items made by retailers as much as six months in advance. Still, category by category, demand levels vary. SEKO executives said they are seeing consumers trade down in the product, but as far as which categories will be the big winners this peak season, it's too soon to know. "The pig in the python has yet to go through when it relates to inventory" said Hans Hickler, president of Americas for SEKO Logistics.

Persons: James Gagne, Gagne, it's, Hans Hickler Organizations: Federal, SEKO Logistics Locations: U.S

☆ Where the trucking and rail recession is showing up in the economic data
▼ + stars: | 2023-04-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. Ocean freight orders are a leading indicator of train and trucking earnings since 90% of the world's trade moves by water. This is one of three key supply chain charts that are signaling more financial potholes for trucking and rail companies. West Coast ports have been losing trade to both the East Coast ports and Gulf ports as a result of prolonged labor negotiations, though union representatives indicated last week a "tentative agreement" had been reached, but no details were provided. Trucking is needed for both container pick up at the ocean terminals and rail ramps.

With the approval, government nominee Kazuo Ueda will officially succeed incumbent BOJ Governor Haruhiko Kuroda whose second, five-year term ends on April 8. But the BOJ's current policy is a necessary, appropriate means to achieve 2% inflation," Ueda told parliament last month, signalling that he was in no rush to hike rates. "I'll succeed the policy in the context of seeking to hit the BOJ's 2% inflation stably and sustainably," Ueda replied. Hiroshi Shiratori, a professor at Japan's Hosei University, see the appointment of Ueda as a sign Kishida wants the BOJ to phase out the legacy policy of Abenomics. "Ueda is saying the BOJ will maintain low rates for now.

☆ There’s a new inflation warning for consumers coming from the supply chain
▼ + stars: | 2023-02-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

While many sources of supply chain inflation that stoked higher goods prices have come down sharply, including ocean freight rates and transportation fuels, bloated inventories due to a lack of consumer demand are sustaining upward pressure on warehouse rates. "But inflationary pressures remain where demand outpaces supply in 2023, including in warehousing through most of the United States, domestic parcel and labor." One reason for the imbalance between warehouse supply and demand is lack of new facilities coming into the market. The Fed is now more focused on services inflation, in particular labor prices, as it expects the pressure in goods inflation to remain downward. But the logistics issues suggest that there will be some elements of sticky inflation on the goods side of the equation.

☆ Relief Efforts in Turkey, Syria Face Logistical Hurdles
▼ + stars: | 2023-02-07 | by ( Paul Berger | ) www.wsj.com time to read: +4 min

Aid groups and logistics operators worldwide are ramping up urgent relief efforts for victims of the earthquakes in Turkey and Syria but say moving supplies through the region’s devastated infrastructure will be a major challenge. Mr. Hovey said Direct Relief plans to fly supplies to airports at Istanbul in northwestern Turkey and at Adana in southeastern Turkey, close to the disaster zone. Many U.S. charities without aid operations in Syria and Turkey are now planning relief efforts, said Kathy Fulton, executive director of American Logistics Aid Network, which coordinates aid efforts among logistics operators following disasters. Aid groups are mostly focused on getting relief to Turkey and Syria by plane. He said the demand for air charters is also starting to make it harder and more expensive to secure space for aid and relief efforts in other parts of the world, such as Ukraine.

☆ Congo revivalist churches draw in Catholics
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Erikas Mwisi KambaleBENI, Democratic Republic of Congo, Jan 28 (Reuters) - Congolese event organiser Deo Malela was born to Roman Catholic parents and identifies as such. But like more and more Catholics in the central African nation, 28-year-old Malele also regularly attends an evangelical church where he says he finds solutions to everyday problems. Pope Francis is expected to visit Congo from Jan. 31 to Feb. 3, the first visit of a pope since 1985. Today there are over 30,000 revivalist churches in Congo, where they also known as "churches of awakening", according to the association representing them. The Catholic church still gives him a stronger sense of community and "political protection", he explained.

☆ How the end of China's travel lockdown could boost online retail powerhouses like Shein
▼ + stars: | 2023-01-09 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

As of January 8, Chinese citizens may travel out of the country freely for the first time in years. The change could boost Chinese e-commerce powerhouses like Shein and Alibaba. Though there are plenty of dedicated cargo flights in and out of China, more than half of air cargo worldwide travels in the belly of passenger planes. Chinese online retailers stand to benefit even more, said Brian Bourke, chief commercial officer of Seko Logistics, a freight forwarding company that manages transportation for Shein, among other US and Chinese e-commerce giants. Cheaper air cargo rates are likely to encourage even more investment in speed from Shein and others.

☆ Lens stay in title race as they hand PSG first league loss of the season
▼ + stars: | 2023-01-01 | by ( ) www.reuters.com time to read: +1 min

Jan 1 (Reuters) - Lens beat Ligue 1 leaders Paris St Germain 3-1 on Sunday to give the champions their first league loss of the season, narrowing the gap at the top between the two teams. PSG were without Neymar, who was suspended after getting sent off against Strasbourg on Wednesday, and Lionel Messi who is continuing his post-World Cup recovery. The result means Christophe Galtier's side are on 44 points from 17 games, four points ahead of Lens in second. Hugo Ekitike equalised for PSG three minutes later when the striker reached a cross before Lens goalkeeper Brice Samba and tapped the ball in. French forward Alexis Claude-Maurice made it three for Lens two minutes into the second half to seal the win.

☆ California Long Ruled U.S. Shipping. Importers Are Drifting East.
▼ + stars: | 2022-12-10 | by ( Paul Berger | Photographs David Walter Banks For The Wall Street Journal | ) www.wsj.com time to read: +13 min

Abercrombie & Fitch Co. is moving more merchandise through New York and New Jersey to avoid West Coast bottlenecks. It trailed its East Coast rival again in that measure during September and October, according to the Pacific Merchant Shipping Association and ports data. ”There are so many customers that got so screwed because they were entirely reliant on L.A. and Long Beach.”The logistical challenges of spreading imports along the East Coast and the Gulf Coast are massive. The shift in trade to the East Coast marks a return to where container ships originated. Then the U.S. began importing more goods from Europe, making an Atlantic Ocean crossing to various East Coast ports more critical.

☆ China's travel rule relaxation means more space for cargo on passenger planes — and a big boost for Chinese retailers like Shein
▼ + stars: | 2022-12-07 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

The change could boost Chinese e-commerce powerhouses like Shein and Alibaba. Though there are plenty of dedicated cargo flights in and out of China, more than half of air cargo worldwide travels in the belly of passenger planes. Without regular passenger flights, the price to move cargo via plane in and out of China has been sky-high. Chinese online retailers stand to benefit even more, said Brian Bourke, chief commercial officer of Seko Logistics, a freight forwarding company that manages transportation for Shein, among other US and Chinese e-commerce giants. Cheaper air cargo rates are likely to encourage even more investment in speed from Shein and others.

Search resuls for: "Seko"

25 mentions found