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☆ These brands could be hit the hardest by port strike: BofA's Peter Galbo
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThese brands could be hit the hardest by port strike: BofA's Peter GalboPeter Galbo, BofA Securities analyst, joins CNBC's 'The Exchange' to discuss the impact of the ongoing strike at East and Gulf Coast ports, how long his firm thinks the strike will last, and more.

Persons: Peter Galbo Peter Galbo Organizations: BofA Securities Locations: East, Gulf Coast

☆ Dockworkers on the East and Gulf Coasts have agreed to suspend the strike after reaching a deal for better pay
▼ + stars: | 2024-10-03 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

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

Two rapid-attribution studies released Tuesday found that human-caused global warming made Hurricane Helene stronger and wetter, elements that contributed to the storm's destructive power. A report from ClimaMeter, a consortium that analyzes extreme weather events, found that Helene’s rainfall totals and winds were strengthened by human-driven climate change, with the rainfall up to 20% heavier and winds up to 7% stronger. The consortium noted that elevated temperatures in the Gulf of Mexico — something climate scientists have been warning about for years — likely contributed to Helene's power. "Furthermore, we estimate that the observed rainfall was made up to 20 times more likely in these areas because of global warming," the report added. Copious research has revealed a strong link between climate change and rapidly intensifying and wetter tropical systems because warmer atmosphere allows for heavier rain over land.

Persons: Helene, — Organizations: Lawrence Berkeley Lab Locations: ClimaMeter, Gulf, Mexico, Gulf of Mexico, California, Georgia, Carolinas, North Carolina, Appalachia, Busick

☆ Vance and Walz debate highlights and Israel vows retaliation against Iran: Morning Rundown
▼ + stars: | 2024-10-02 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +10 min

JD Vance and Tim Walz play nice during the vice presidential debate. Vance and Walz put on a display of Midwest nice in vice presidential debateCordial handshakes book-ended the first and only debate between vice presidential candidates Sen. JD Vance of Ohio and Minnesota Gov. On and on it went as Vance, the right-wing Republican, and Walz, a progressive Democrat, put on a textbook performance of Midwest nice. Both Vance and Walz attempted to pin America's woes on the others' presidential candidates. Read more about the missile attack in Israel and follow our live blog for the latest updates.

Persons: Vance, Tim Walz, Benjamin Netanyahu, Israel, Walz, Sen, JD Vance, Harris, Joe Biden, Kamala Harris, “, → Walz, → Vance, Trump, “ Tim, I’m, ” Walz, Hassan Nasrallah, Masoud Pezeshkian, ”, Read, Hurricane Helene, Helene, Saul Young, Bertha Mendoza, Mendoza, ” Guillermo Mendoza, Bertha Mendoza’s, Angel Mitchell, Biden, Kamala Harris ’, Sean “ Diddy ” Combs, John Amos, Mount Everest, David Gray, Everest, Elizabeth Robinson Organizations: Minnesota Gov, Republican, Biden, Trump, Israel Defense Forces, Israeli, Impact Plastics, News Sentinel, USA, Network, National Weather Service, Jewish, NBC News, Good Times, NBC, Deal Locations: Everest, Ohio, Springfield , Ohio, Hong Kong, Israel, Iran, Lebanon, U.S, Gaza, Yemen, Syria, East, Tennessee, Hurricane, Erwin, Tenn, Asheville, —, Asheville . Politics, Gulf, Mexico, Texas, Mount

☆ Key lines from the Vance-Walz vice presidential debate
▼ + stars: | 2024-10-02 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +19 min

Here are key lines from the debate, which was hosted by CBS News in New York City on Tuesday. Vance said many of the things Trump says, but he did it with a control that Trump lacks. The only answer is during the four years that Donald Trump was president. We have a historic immigration crisis because Kamala Harris started and said that she wanted to undo all of Donald Trump’s border policies. We could come together and solve this if we didn’t let Donald Trump continue to make it an issue.

Persons: Tim Walz, Sen, JD Vance, Vance, don’t, Vance Vance, Donald Trump, Donald Trump’s, Trump, Walz, Walz Walz, I’m, didn’t, Vance Trump’s, Joe Biden, Kim Jong Un, Chip Somodevilla, I’ve, we’re, Walz Vance, Kamala Harris, Vance Walz, you’ve, You’ve, Kamala Harris ’, Matthew, ‘, Margaret Brennan, Norah O'Donnell, Brendan McDermid, Reuters We’re, We’re, Vance It’s, Robert F, Kennedy Jr, ”, Harris, Biden, Nora, we’ve, Wade, Roe, Amber Thurman, Sandy, Walz misspoke, That’s, Vance Both Walz, You’re, Vance Child, Vance Trump, Walz Trump, It’s, he’ll, he’s Organizations: CNN, Gov, Minnesota, CBS News, Social Security, Trump, NATO, CBS, Center, Reuters, Mayo Clinic, Pharmaceuticals, Sandy Hook Elementary, Minnesota Gov, Affordable, Biden, Democratic Locations: Ohio, New York City, Israel, Iran, American, Afghanistan, Syria, Iraq, America, Mexico, Springfield , Ohio, Springfield, New York, Rochester , Minnesota, Hong Kong, China, Roe, Georgia, Finland

☆ Hurricane Helene devastates Asheville's small beer breweries: 'It's quite heartbreaking.'
▼ + stars: | 2024-10-02 | by ( Allie Kelly | Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

AdvertisementBrian Fetting and Dan Juhnke welded every chair and table for their business, New Origin Brewing in Asheville, North Carolina. Last week, Hurricane Helene stripped away nearly everything. New Origin Brewing is in one of the hardest hit cities by Hurricane Helene, despite its mountain location, 300 miles inland. Some of New Origin's brewing equipment, destroyed by Hurricane Helene. For most of the small breweries dotting the French Broad River and the Blue Ridge Mountains, the devastation from Hurricane Helene can't just be measured in dollars lost.

Persons: Helene, —, Brian Fetting, Dan Juhnke, Fetting, Hurricane Helene, he's, He's, Dan, Mike Semenec, Semenec, DSSOLVR, Harrison Fahrer —, Asheville —, Fahrer, Tim Kent, They're, Kent, Juhnke, Bryna Frosaker, Adam Charnack, Frosaker, Charnack Organizations: Service, Business, Brewery, Asheville Metro Area Breweries, North Carolina Beer & Wine, Juhnke Brewery Locations: North Carolina, Asheville , North Carolina, Hurricane, Gulf Coast and Georgia, Buncombe County, Asheville, Minnesota, North, Tampa, Durham, North Carolina's, Charnack

☆ Analysts say the US could see $34 billion in damage from Hurricane Helene slamming into Florida, Georgia, and the Carolinas
▼ + stars: | 2024-10-02 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Hurricane Helene has brought with it a hefty price tag. The hurricane cut power for millions of homes and left at least 166 dead across southeast states. In a Monday report, Moody's Analytics projected the damage from the hurricane to be between $20 billion and $34 billion. Related storiesThe hurricane made landfall in Florida on Thursday as a Category 4 hurricane before becoming less intense as it moved through Georgia, North Carolina, and South Carolina. As of early Wednesday, the storm had cut power for 1.2 million homes and businesses across Georgia, South Carolina, and North Carolina, per The AP.

Persons: Helene, —, Adam Kamins, Kamins Organizations: Service, Associated Press, AP, Cellular, National Oceanic, Atmospheric Administration Locations: Sunshine, Florida, Georgia, North Carolina, South Carolina, Tahoe, Gulf

☆ Israel retaliation may target Iran oil infrastructure, boosting prices further, Wall Street analysts say
▼ + stars: | 2024-10-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The expanding war in the Middle East, however, has reached a new boiling point as Israel has vowed a "painful" response to Iran's attack. The government of Prime Minister Benjamin Netanyahu could take aim at the Islamic Republic's oil infrastructure in retaliation, geopolitical and crude market analysts say. "The next turn in this retaliation spiral may very well involve oil – via the degrading of Iran's oil capacityor Iran's proxies attacking oil and gas shipping from the Persian Gulf," Piper Sandler analysts told clients in a Wednesday research note. If Iran's oil exports of around 1.8 million bpd were taken offline, prices would likely jump by at least $5 per barrel, McNally said. An escalation on this scale could send oil prices higher in increments of $10 per barrel, the analyst said.

Persons: Ali Mohammadi, Benjamin Netanyahu, Helima Croft, Jack Jacobs, Jacobs, Croft, Piper Sandler, Bob McNally, McNally Organizations: Persian Gulf, Bloomberg, Getty, OPEC, RBC Capital Markets, U.S, Army, Rapidan Energy Locations: Bandar Abbas, Iran, Israel, China, Persian

☆ The old F-16s the West is giving Ukraine can't outmatch Russia's best jets, former US general says
▼ + stars: | 2024-10-02 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +9 min

AdvertisementThe old F-16 models that Ukraine's allies are giving it are no match for Russia's best jets, a former US general told Business Insider. The F-16s, which Ukraine has started receiving from its allies, are the most advanced aircraft Ukraine now has in its arsenal and are armed with more powerful bombs and missiles. AdvertisementDavis said Ukraine's F-16s "are making a difference now" and said when more arrive, that "will help them make more of a difference." All of them pose a threat to Ukraine's F-16s, Davis said, along with Russia's formidable batteries of surface-to-air missiles. Related storiesThe Wall Street Journal reported in August that many of Ukraine's F-16s "are secondhand and have decades of flying time already."

Persons: —, Gordon, Skip, Davis, Ukraine's, Volodymyr Zelenskyi, Vitalii, Michael Bohnert, Josh Rosales Ukaine's, David, Volodymyr Zelenskyy, they'd, we're Organizations: NATO, Service, Business, US Army, Defense Investment Division, Getty, SU, Air Missiles, Street, RAND Corporation, Air Force, US Air Force, Tech, Aircraft, Russian Defense Ministry, Anadolu Agency, Air, Ukrainian Air Forces, REUTERS Locations: Russian, Ukraine, Russia, South Korea, of Mexico, Brest, Belarus, Valentyn, Denmark, Norway, Belgium, Netherlands

☆ The US port strike isn't just hitting imports. America's farmers could be hurt, too.
▼ + stars: | 2024-10-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

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

☆ CNBC Daily Open: Minor turbulence for the soft landing
▼ + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Kirk Side | Houston Chronicle | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. Higher oil prices pose a risk to inflation resurging, or at least slowing less than everyone is hoping for. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.

Persons: Seabrook . Kirk, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Houston Chronicle, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook ., Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East

☆ Crude oil jumps nearly 3% as Israel vows 'painful' response to Iran missile attack
▼ + stars: | 2024-10-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil rose nearly 3% on Wednesday as traders fear Israel could target Iran's oil infrastructure in retaliation for a ballistic missile attack. Israel's ambassador to the United Nations, Danny Danon, vowed late Tuesday that Israel will exact a "painful" response against Iran. Danon's threat came hours after the Islamic Republic launched around 180 ballistic missiles at Israel in retaliation for the assassination of top Hamas and Hezbollah leaders. Israel might take aim at Iran's oil industry to hit Tehran's income and degrade its ability wage war, they said. OPEC+ is planning to increase oil production in December, and U.S. output has been set records.

Persons: Danny Danon, Piper Sandler, Goldman Sachs, Yulia Zhestkova Grigsby Organizations: United Nations, Islamic Locations: Israel, Iran, Islamic Republic, Persian, China

☆ The East and Gulf Coast ports strike could be a no-win situation for the Biden administration
▼ + stars: | 2024-10-02 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

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

☆ Investors eying income solutions and defense stocks as geopolitical tensions rise
▼ + stars: | 2024-10-02 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +2 min

(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

☆ Asheville was considered a climate haven. Helene shows nowhere is safe
▼ + stars: | 2024-10-02 | by ( Laura Paddison | Holly Yan | ) edition.cnn.com time to read: +7 min

CNN —Asheville was touted as a climate haven, a place to escape the worst ravages of extreme weather. It pummeled western North Carolina as a tropical storm Friday. In some ways, this scenic swath of western North Carolina was primed for catastrophe. Both systems concentrated their highest rainfall on western North Carolina, killing 11 people. A recent First Street report found parts of North Carolina devastated by Helene could now experience a once-in-100 year flood every 11 to 25 years.

Persons: ”, Kathie Dello, Hurricane Helene, Helene, Melissa Sue Gerrits, Jesse Keenan, Susan Hassol, Dello, ” Dello, Ivan, Frances, Sean Rayford, Fred, Travis Long, Helene “, Ed Kearns, ” Kerns, Esther Manheimer, Tulane University’s Keenan, Keenan, ” There’s, Rachel Ramirez, Ella Nilsen, Brandon Miller Organizations: CNN, Asheville, Highways, Biltmore, Tulane University, Lawrence Berkeley National Laboratory, Tropical, First Street Foundation, Tulane Locations: North Carolina, America, North Carolina’s, Florida, Buncombe County, Asheville, Gulf of Mexico, California , Arizona, Carolinas, Georgia, Buncombe, Biltmore Village, Cruso , North Carolina, Canada, Vermont, West Virginia, Phoenix

☆ Biden and other government officials are telling port companies to get a better offer to striking workers ASAP
▼ + stars: | 2024-10-02 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

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

☆ Dollar firm as war widens in Middle East
▼ + stars: | 2024-10-02 | by ( ) www.cnbc.com time to read: +2 min

The dollar held its sharpest gain in a week on Wednesday after an Iranian missile attack on Israel drove buying of safe assets as investors fretted about the widening of conflict in the Middle East. The dollar held its sharpest gain in a week on Wednesday after an Iranian missile attack on Israel drove buying of safe assets as investors fretted about the widening of conflict in the Middle East. The bid for safety kept the yen broadly steady at 143.45 per dollar and the Swiss franc at 0.8463 per dollar. The New Zealand dollar was nursing a 1.1% overnight fall at $0.6283 and oil prices had jumped 2.5%. Westpac strategist Imre Speizer said the Middle East was unpredictable but that in the absence of escalation market sentiment could recover and focus return to economics.

Persons: Sterling, Imre Speizer, Tim Walz, JD Vance Organizations: Swiss, New Zealand, U.S, Iran's Revolutionary Guard Corps, Hezbollah, ANZ, Westpac, BNZ, Gulf Coast dockworkers Locations: Iranian, Israel, Early Asia, Iran, Lebanon, Asia, New Zealand, dockside, East, Gulf Coast

☆ CNBC Daily Open: Soft landing hit by minor turbulence
▼ + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Mark Felix | Afp | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. It's just the first days of the port strike and flare-up in Middle East tensions, however. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.

Persons: Mark Felix, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Afp, Getty, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook , Texas, Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East

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

Sean “Diddy” Combs is facing dozens of new allegations of sexual assault in a series of civil lawsuits set to be filed. At a press conference held on Tuesday, Texas-based attorney Tony Buzbee said he is representing 120 accusers with allegations against the entertainment mogul that occurred over 20 years. Sean Combs at the 2018 Vanity Fair Oscar Party in Beverly Hills, Calif. John Shearer / Getty Images file“Many powerful people ... many dirty secrets,” the lawyer said of the allegations. Combs’ legal issues have been mounting since his ex-girlfriend, Cassandra “Cassie” Ventura, filed an explosive civil suit against him last year, accusing him of assault and sex trafficking over the course of their relationship. Several months later, surveillance video showing Combs brutally beating Ventura in the hallway of a Los Angeles hotel leaked, and the mogul apologized for his actions.

Persons: Sean “ Diddy ” Combs, Tony Buzbee, “, ” Buzbee, Sean Combs, John Shearer, ”, Buzbee, he’s, Combs, Alexandra Shapiro, Teny Geragos, Marc Agnifilo, Deshaun Watson, Travis Scott, Cassandra “ Cassie ” Ventura, Dawn Richard, Danity Kane Organizations: NBC News, Metropolitan Detention, of, BP, NFL, Ventura Locations: , Texas, Beverly Hills, Calif, New York , California, Georgia, Florida, Brooklyn , New York, Southern, of New York, Gulf of Mexico, Ventura, Los Angeles, New York City

☆ U.S. port strike could have huge impact on global supply chain
▼ + stars: | 2024-10-01 | by ( Sam Meredith | ) www.nbcnews.com time to read: +5 min

Workers at ports stretching from Maine to Texas went on strike early Tuesday in a dispute over wages and automation. So, the unpredictability of this issue here is really in play and it has the magnitude to really throw a giant wrench in global supply chains,” she added. Ocean supply chains have already been hit hard this year by conflict in the Red Sea, a lengthy drought affecting the Panama Canal and the Baltimore bridge collapse. 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. “Frequent shocks to supply chains in recent years have left producers more attuned to the risks of running low inventories,” Saunders said on Sept. 25.

Persons: ” Lisa DeNight, Newmark, CNBC’s, DeNight, Peter Sand, Sand, ” Sand, — “, ”, Maersk, Bradley Saunders, Joe Biden, Biden, Taft, Hartley, ” Saunders Organizations: U.S, Workers, International Longshoremen’s Association, ILA, United States Maritime Alliance, Maersk, North America Economist, Capital Economics Locations: East, Gulf, Maine, Texas, U.S, Red, Panama, Baltimore, Gulf Coast, Europe, Asia, Danish, East Coast

Israel launches a ground operation in Lebanon. North Carolina residents raise questions over disaster responseNorth Carolina residents are only beginning to pick up the pieces after Helene roared through the western part of the state, causing devastating flooding and catastrophic damage. At least 49 people have died and dozens of others are missing in western North Carolina, which includes hard-hit Asheville. But some North Carolina residents are criticizing what they view as a lack of preparation for the storm. In recent weeks, Israel has launched attacks using exploding pagers and walkie talkies, unleashed heavy bombings in Lebanon and killed longtime Hezbollah leader Hassan Nasrallah.

Persons: Vance, Tim Walz, Helene, Roy Cooper, ”, Deanne Criswell, Sara Legatski, “, Hassan Nasrallah, Read, Sen, JD Vance, Donald Trump’s, Walz, Kamala Harris ’, Vance’s, —, Biden, Harris, longshoremen, Carter, Jimmy Carter, Claudia Sheinbuam, Pete Rose, League Baseball’s, Sing, Jon, Adrian Velazquez, Gadiel del Orbe, del Orbe, — Sandra Lilley, Elizabeth Robinson Organizations: NBC, Asheville . North Carolina Gov, FEMA, Spokespeople, Reuters, AFP, Getty Israel, Lebanon's, Israel Defense Forces, Minnesota Gov, CBS, Getty, Vance’s Yale Law, Democratic Party, International Longshoremen’s Association, United States Maritime Alliance, Workers, League, Sing Sing, del, Vanderbilt University Locations: Asheville , North Carolina, Israel, Lebanon, North Carolina, Carolina, Asheville ., Asheville, Florida, Buncombe County, didn’t, Beirut, Ohio, New York, Springfield , Ohio, East Coast, Gulf Coast, Georgia, NYPD, Kentucky, Spain

Trucking and other logistics companies are racing to get as many goods as possible out of ports before a potential strike. The vast port operations of New York and New Jersey stand to be most affected, with about 4,500 workers in the region. Kathy Hochul said that her state and the Port Authority of New York and New Jersey have been anticipating the strike but warned of potential impacts. Under that authority, Biden could seek a so-called 80-day "cooling-off period" that would force dockworkers to stay on the job. But while the White House has been in touch with the ILA and USMX in recent days, the president is not looking to invoke the law.

Persons: USMX, Kathy Hochul, We’re, Joe Biden, Taft, Hartley, Biden, dockworkers, Kamala Harris, Donald Trump, ” Biden Organizations: ILA, CNBC, Ocean Carriers, ILA Longshore, New York Gov, Port Authority of New, White, USMX, Democratic, Republican Locations: New York, New Jersey, Port Authority of New York, Taft

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

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

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

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

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

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

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