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☆ Adoption fraud was widespread for many South Koreans adopted into Western countries, AP finds
▼ + stars: | 2024-09-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +22 min

SEOUL, South Korea (AP) — As the plane descended into Seoul, Robert Calabretta swaddled himself in a blanket, his knees tucked into his chest like a baby in the womb. The South Korean government has accepted a fact-finding commission under pressure from adoptees, and hundreds have submitted their cases for review. Western governments turned a blind eye, sometimes even pressuring South Korea for children, while promoting the narrative that they were saving orphans with no other options. Robert Calabretta, right, and his biological father, Lee Sung-soo, during a visit in Daegu, South Korea, in August 2020. Laurie Bender was approached by a strange woman while playing in the front yard in South Korea in 1975.

Persons: Robert Calabretta swaddled, they’d, “, ”, —, doesn’t, Robert Calabretta, Lee Sung, Calabretta, “ You’re, Patricia Nye, ” Nye, Holt, weren’t, ” Michaela Dietz, Robyn Joy Park, Rae, hasn't, Jae, Lee, ” Lee, Lee Moo, wasn’t, David Goldman, she’d, Laurie Bender, Bender, Han Tae, Philsik Shin, Helen Noh, Noh, ” Noh, he’d, Susan Soonkeum Cox, Kim Jin Sook, Francis Carlin, ” Carlin, …, Carlin, ” Bender, you’ve, Han Organizations: The Associated Press, South, AP, Frontline, International Social Service, University of Minnesota, ISS, BBC, ”, Holt Children’s Services, Eastern Social Welfare Society, Korea Welfare Services, Korea Social Service, Records, Health Ministry, Red Cross Hospital, U.S, Korea’s Anyang University, Seoul’s Soongsil University, Holt International, Catholic Relief Services, South Korean, FRONTLINE, PBS Locations: SEOUL, South Korea, Seoul, United States, South, Western, adoptees, U.S, Australia, Daegu, Korean, West, Korea, Geneva, “, Asia, Europe, North America, Pasadena , Calif, Boryeong, American, New York, ”, Oregon, Holt, Holt Korea

☆ China-Mexico freight traffic surges in Trump, Biden tariff era, as companies find ways to evade U.S. trade war
▼ + stars: | 2024-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +16 min

Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.

Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan

☆ Largest port on U.S. East Coast, New York/New Jersey, begins prepping for what could be first union strike since 1977
▼ + stars: | 2024-09-19 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

"A number of ocean carriers have announced their plans in terms of embargoing export cargo coming to the East Coast from the Midwest," said Rooney. Once the strike is over the Coast Guard would lead the charge in an orderly flow of vessels entering the port." "While the APAC region typically has more options to shift freight to the West Coast, over half of the automotive freight coming in today is heavily dependent on the East Coast. Port of New York/New Jersey has joined other ports that have publicly posted strike contingency plans. The vessels scheduled to come into the East Coast and Gulf ports have been traversing the ocean since early to mid-August.

Persons: Beth Rooney, Rooney, Jim Mancini, CH Robinson, Biden, Taft, Hartley, We've, Harold Daggett Organizations: CNBC, International Longshoreman's Association, ILA, Cruise, United States Maritime Alliance, Port Authority of New, Coast Guard, Maersk, Port, Bloomberg, Getty, Transportation, U.S ., Biden, Logistics Locations: of New York, New Jersey, North America, East, Gulf Coasts, Port Authority of New York, New York, East Coast, Maersk Atlanta, Newark, Newark , New Jersey, US, North, Europe, Oceania, Latin America, Asia, West Coast, Germany, Charleston, Savannah, U.S . West Coast, Port, Houston, Mobile , Alabama

☆ NFL Draft 2025 Big Board: Will Johnson, Abdul Carter lead Dane Brugler’s initial top 50
▼ + stars: | 2024-08-21 | by ( Dane Brugler | ) www.nytimes.com time to read: +46 min

Position CB CB/WR DT Edge LB OT QB RB S TE WR iOL Class Jr. R-Jr. R-So. Photo: Jonathan Bachman / Getty Images OT Jr. 11 Benjamin Morrison CB Notre Dame Height: 6-0 Weight: 186 Class: Jr. Photo: Tim Warner / Getty Images CB Sr. 42 Barrett Carter LB Clemson Height: 6-0 Weight: 234 Class: Sr. Photo: Kevin C. Cox / Getty Images WR Jr. 50 Drew Allar QB Penn State Height: 6-4 Weight: 230 Class: Jr. Photo: Joe Robbins / Icon Sportswire via Getty Images QB Jr.(Illustration: John Bradford / The Athletic; Photos of Carson Beck, Will Johnson and Travis Hunter: Rich von Biberstein / Icon Sportswire via Getty Images; Gregory Shamus, Ryan Kang / Getty Images)

Persons: Will, Johnson, “ can’t, Devon Witherspoon, Derek Stingley Jr, Sauce Gardner, Thomas Shea, Abdul Carter, LaVar Arrington, NaVorro Bowman, Micah Parsons, Carter, Tom Allen, Scott Taetsch, Travis Hunter, Hunter, Deion Sanders, Ron Chenoy, Jr, Mason Graham, Graham, NFL hasn’t, Quinnen Williams, Williams, Bailey, James Pearce Jr, Pearce, Pierce, —, Donald Page, Tetairoa McMillan, McMillan, Malik Nabers, Rome Odunze, Jedd Fisch, Noah Fifita, Ivan Pierre Aguirre, Luther Burden, Burden, Theo Wease, Brady Cook, Johnnie Izquierdo, Carson Beck, Beck, Stetson Bennett, Brock Bowers, Matt Ryan, Megan Briggs, Starks, Bo Nix, hasn’t, Jamal Adams, Kim Klement Neitzel, Will Campbell, Campbell, Jonathan Bachman, Benjamin Morrison, Morrison, Darryl, Morrison’s, Matt Cashore, Shavon Revel Jr, Revel, wasn’t, Scott W . Grau, Emery Jones Jr, Joe Alt, Blake Fisher, Troy Fautanu, Roger Rosengarten, Caedan Wallace, Jones, Jones wasn’t, Julio Aguilar, Williams hasn’t, Travon Walker, ”, Jeff Blake, Edge, Kelvin Banks Jr, Banks, Steve Sarkisian, Bijan Robinson, Jonathon Brooks, Xavier Worthy, Adonai Mitchell, Nick Tre . Smith, Tyleik Williams, Joseph Maiorana, Deone Walker, Walker, Joe Robbins, Shedeur Sanders, Sandersmania, Sanders, Eli, Manning, “, Sr, Nic Scourton Edge, Scourton, Jeff Brohm, Zach Bolinger, Harold Perkins Jr, Perkins, Brian Kelly, Blake Baker, Baker, who’s, David Rosenblum, Colston, McCarthy, Sherrone Moore, Aaron J, Thornton, Jonah Savaiinaea, Savaiinaea’s, Savaiinaea, Louis, Kevin Langley, Quinn Ewers, Ewers, Ewers wasn’t, Ron Jenkins, Conner Weigman, Weigman, Jimbo Fisher’s, Fisher, Bobby Petrino, Collin Klein, Mike Elko, Maria Lysaker, Jeanty, Chris Williams, Ersery, isn’t, Jason Mowry, JT Tuimoloau, Tuimoloau, Matthew Visinsky, Lander Barton, Barton, Morgan Scalley, Cody, Jackson, Lander, Chris Gardner, Patrick Payton, Payton, Jermaine Johnson, Jared, Isaiah Vazquez, Kenneth Grant, Grant wasn’t, Grant, Troy Taormina, Mansoor Delane, Dorian Strong, Rich Schultz, Maxwell Hairston, Andru Phillips, Kentucky’s, Phillips, Hairston, Carly Mackler, Egbuka, Stroud, Marvin Harrison Jr, Garrett Wilson, Chris Olave, Rick Osentoski, Denzel, Burke, Tim Heitman, Ollie Gordon II, Gordon, Barry Sanders, Brian Bahr, QB Drake Maye, Rich von Biberstein, Ayomanor, Henderson, Danny Stutsman, Stutsman, Lincoln Riley, Brent Venables, Landon Jackson, Preston Smith, Petre Thomas, Jalon Walker, it’s, Quay Walker, Nolan Smith, Perry McIntyre, Jahdae Barron, Barron, Barron doesn’t, Tim Warner, Barrett Carter, Kirby Smart, Dabo Swinney’s, Ken Ruinard, Isaiah Bond, Bond, Jalen Milroe, Kevin C, Cox, Walter Nolen, Nolen, Ole Miss, Jack Sawyer, Sawyer, Dylan Buell, Darrell Jackson Jr, Don Juan Moore, Sam Brown, Cam Ward, Damien Martinez, Brown, Ken Murray, Deion Burks, Burks, Evan Stewart WR, Stewart, Dillon Gabriel, Drew Allar, Allar, Sean Clifford, Allar’s, Will Levis, John Bradford, Will Johnson, Gregory Shamus, Ryan Kang Organizations: NFL, Edge, Will Johnson, Michigan, Wolverines, Detroit, Washington, USA, Abdul Carter Edge, Penn, Indiana, Nittany Lions, Parsons, FCS Jackson State, FBS, Stanford, School, UCLA, Getty, SEC, Arizona, Missouri, Tigers, Bulldogs, Oregon, LSU, Benjamin Morrison CB Notre Dame, Notre Dame, CB, Carolina, Louisburg College, Getty Images, Penn State, Baton, NC, Longhorns, Cass Tech High School, Buffs, Nic Scourton Edge Texas, College, Purdue, Boilermakers, Colston Loveland, St, Wildcats, College Football, Texas, Aggies, Kansas State, Ashton Jeanty, Boise State, Gophers, JT Tuimoloau Edge, Utes, Utah, Patrick Payton Edge, Miami Northwestern, Seminoles, Florida State, Mansoor Delane CB Virginia, Hokies, Virginia Tech, Giants, Buckeyes, Buckeye, Denzel Burke CB, Ollie Gordon II RB, Oklahoma State, Hampton RB, Appalachian State, ACC, Hampton, America, Alabama, Clemson, Tide, Ole Miss, Jack Sawyer Edge, Ohio State, Maryland, Terps, Miami, Hurricanes, West, Houston, Cougars, Sooners, — Penn State Locations: Michigan, Colorado, Servite, Calif, North Carolina, Tennessee, Georgia , Missouri , Texas, Rome, Arizona, Washington, Oklahoma, Georgia, Theo Wease , Missouri, Athens, USA, Louisiana, Alabama , Michigan, Oregon, Winston, Salem, East Carolina, Baton Rouge, Austin, Texas, Ohio, Columbus, Detroit, Alabama, Kentucky, Lexington, Dollaz, Colston Loveland TE, Gooding , Idaho, Loveland, Ann Arbor, American Samoa, Honolulu, College, Boise, Kansas City, JT Tuimoloau Edge Ohio, Utah, Patrick Payton Edge Florida, Miami, C.J, Fort Worth , Texas, Canada, Massachusetts, Notre Dame , Tennessee, Palo Alto, Lincoln Riley and Oklahoma, Alabama’s, But Texas, Jack Sawyer Edge Ohio, Florida, Savannah, Ga, West Virginia

"That, of course, requires more capacity, more ships in order to move global trade around the world, and that has created some shortages here in the second quarter and in the third quarter that we're dealing with at the moment," Clerc told CNBC's "Squawk Box Europe." Maersk on Wednesday reported lower year-on-year revenue in the second quarter and across the first half of the year. It also posted second-quarter underlying profit of $623 million, a drop compared to the $1.35 billion reported in the same period last year. Container demand has been more robust than expected but is expected to cool in the coming quarters, Clerc said. Maersk shares were 1.8% lower at 11:33 a.m. in London.

Persons: Vincent Clerc, Clerc, CNBC's Organizations: Maersk Locations: Africa, Good, Europe, U.S, Asia, London

☆ Artificial Intelligence Gives Weather Forecasters a New Edge
▼ + stars: | 2024-07-29 | by ( William J. Broad | ) www.nytimes.com time to read: +13 min

Artificial Intelligence Gives Weather Forecasters a New Edge The brainy machines are predicting global weather patterns with new speed and precision, doing in minutes and seconds what once took hours. GraphCast GraphCast Miss. specialist at the European Center for Medium-Range Weather Forecasts, the agency that got upstaged on its Beryl forecast. Even so, reliable weather forecasts turn out to be extraordinarily hard to achieve. As a result, weather forecasts can fail after a few days, and sometimes after a few hours.

Persons: Hurricane Beryl, GraphCast, Beryl MEXICO, Hurricane Beryl Miss ., William B, Davis, ”, Matthew Chantry, Christopher S, Amy McGovern, Dr, McGovern, “, Brandon Bell, Maria Molina, Bretherton, Sir Richard Friend, Rémi Lam, GraphCast’s, Lam, . Lam, Beryl, Hurricane Lee, DeepMind’s GraphCast, . Chantry, Chantry, Paul G, Allen, ‘, we’ve, Molina, Jamie Rhome, Rhome, Mr, There’s Organizations: A.I, Beryl MEXICO CUBA European, JAMAICA European, Beryl MEXICO CUBA JAMAICA Hurricane, National Hurricane Center, Hurricane, NOAA, European Press Agency, Google, European Center, University of Washington, University of Oklahoma, University of Maryland, Royal Academy of Engineering, Cambridge University, Getty, Nvidia, Huawei, Fudan University, Allen Institute for A.I, Microsoft Locations: Va . Ky, N.C, Okla, ., Ala . Texas, Texas, Fla, Va, Kan, Mo, Ky, Beryl MEXICO CUBA, VENEZUELA COLOMBIA, Tenn, Okla ., Beryl MEXICO CUBA JAMAICA, Caribbean, Mexico, Houston, London, DeepMind, Land , Texas, A.I, Freeport , Texas, England, Canada, Nova Scotia, China, Corpus Christi , Texas, Miami

☆ Microsoft, CrowdStrike IT outage hits global supply chain, with air freight facing days or weeks to recover
▼ + stars: | 2024-07-19 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

The new issue for the global supply chain comes amid a rise in global demand, with shipments up 13% year-over-year in June. Air freight supply has increased, but only by 3% year-on-year, already causing higher costs for shippers due to the limited capacity, according to Xeneta. Thousands of flights were grounded or delayed at the world's largest air freight hubs in Europe, Asia and North America. "This is a reminder of how vulnerable our ocean and air supply chains are to IT failure." Ports, freight rails, report some issues, but normal operationsMost rails and ports were faring better after some early morning disruptions.

Persons: Buttigieg, Pete Buttigieg, van de Wouw, Niall van de Wouw, Xeneta, Berkshire Hathaway, Mario Cordero, Bethann Rooney, Emily Stausbøll, Stausbøll, Kpler, Matt Wright Organizations: U.S . Department of Transportation, Transportation, CNBC, Air, Microsoft, FedEx, UPS, Union Pacific, Pacific, CSX, Norfolk, BNSF, APM, Maersk, Port Authority, Port Authority of New, Port, U.S ., Harbour Master Locations: New York, U.S, China, Europe, Asia, North America, Norfolk Southern, Berkshire, Port, Houston, Los Angeles, of Long Beach, New Jersey, Port Authority of New York, Savannah, Virginia, Charleston Port, U.S . East Coast, Maritime, Gdansk, Dover, Felixstowe, Liverpool, Rotterdam

☆ These bank stocks are cheap and expected to rally
▼ + stars: | 2024-07-10 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

These bank stocks are cheap and expected to jump, according to CNBC Pro. The bank stock has underperformed this year, down more than 7%. But it's expected to surge 19% to its consensus price target, and has a forward P/E of 10.6. The stock is expected to gain 17% from here, and looks relatively cheap with its 10.1 forward P/E. It has a forward P/E of just 8.4.

Persons: Wells, Goldman Sachs, Morgan Stanley, It's, Stephens Organizations: CNBC Pro, Citigroup, JPMorgan Chase, Bank of America, Silicon Valley Bank, Regional Banking, CNBC, KBW Nasdaq, U.S, Bancorp, U.S . Bancorp, Western Alliance, East West Bancorp Locations: Wells Fargo, Silicon

In this next term, I’m going to make sure we got to — straighten out the tax system. STEPHANOPOULOS: The number of Americans who think you’re too old to serve has doubled since 2020. STEPHANOPOULOS: I’ve — I’ve questioned him and his allies as persistently as any journalist has. We have — I mean, I’m not seen what you’re — you’re proposing. He may bring me down, he may.”STEPHANOPOULOS: Mr. President, I’ve never seen a president 36 percent approval get re-elected.

Persons: Biden, George Stephanopoulos, GEORGE STEPHANOPOULOS, BIDEN, Nancy Pelosi, you’ve, I’m, You’ve, I’ve, ”, “, who’ve, what’s Biden, George, — BIDEN, —, “ You’re, Walter Reed, Madeleine Albright, Netanyahu, They’ll, ” BIDEN, Putin, it’s, I’d, Donald Trump, You’re, It’s, he’s, you’re, That’s, “ That’s, hadn’t, Nothing’s, They’re, Trump, — I’ve, oth, Hoover, Mark Warner, We’ve, Mark’s, Chuck Schumer, Hakeem Jeffries, “ We’re, Jim Clyburn, they’re, Almighty, “ Joe, ” I’d, Almighty’s, Hakeem, “ Oh, what’s, I’ll, George . Organizations: ABC, The New York Times, National Security Council, New York Times, The Washington Post, Street, NATO, Big Pharma, BIDEN, Putin, AUKUS, Senate, CBS Poll, NBC, Electoral College, Washington Post, Democratic Party, House Democrats, Senate Democrats Locations: Europe, Camp David, North Carolina, —, Georgia, The, England, Pacific, Ukraine, South Korea, United States, It’s, New York, China

Container ships are berthed at PSA's Pasir Panjang Terminal in Singapore July 15, 2019. Global port congestion has reached an 18-month high, with 60% of ships waiting at anchor located in Asia, maritime data firm Linerlytica said this month. SEVERE CONGESTIONSingapore, the world's second-largest container port, has seen particularly severe congestion in recent weeks. "The peak season, which traditionally starts in June, was advanced by a full month, causing ocean freight rates to soar." Container freight prices from Asia to the U.S. and Europe have tripled since early 2024.

Persons: Edgar Su, Linerlytica, Yemen's, Jayendu Krishna, Drewry, PortCast, Niki Frank, Dimerco, Jonathan Gold, Judah Levine, Jared Bernstein, Gene Seroka, Peter Sand, Jeslyn Lerh, Lisa Baertlein, Lisa Barrington, Miyoung Kim, Kim Coghill Organizations: REUTERS, Retailers, Ships, Drewry Maritime Advisors, Singapore, Singapore's, Port Authority, Drewry, Keppel, Tuas, Maersk, DHL Global, Asia, Descartes, National Retail Federation, Container, U.S ., of Economic Advisers, U.S, DHL, Thomson Locations: Pasir Panjang, Singapore, SEOUL, SINGAPORE, Asia, Africa, Malaysia's Port Klang, Tanjung Pelepas, Shanghai, Qingdao, China, South Korea, U.S, Europe, U.S . East Coast, U.S . West, of Los Angeles, Los Angeles, Seoul

☆ Suspected Chinese rocket debris seen falling over village after launch, video shows
▼ + stars: | 2024-06-24 | by ( Nectar Gan | Yong Xiong | ) edition.cnn.com time to read: +6 min

CNN geolocated the video to be filmed from Xianqiao village in Guizhou province, neighboring the launch site province of Sichuan to the southeast. Other videos circulating on Chinese social media platforms analyzed by CNN showed multiple angles of the falling debris. A screengrab taken from video shows suspected Chinese rocket debris falling over Xianqiao village, Guizhou Province, China, following a launch. Before each launch, China’s civil aviation authority typically issues a notice to pilots, known as NOTAM, to warn them against the “temporary danger areas” where rocket debris are likely to be falling. In 2002, a boy in northern China was injured when fragments from a satellite launch fell on his village in Shaanxi province.

Persons: Xi Jinping, Markus Schiller, unsymmetrical, ” Schiller, ”, Schiller, who’s, China –, Russia – Organizations: Hong Kong CNN, CNN, China Aerospace Science, Technology Corporation, State, Information Office, Residents, Stockholm International Peace Research Institute, NASA, European Space Agency, ST Analytics Locations: Hong Kong, China, 3p.m, Sichuan, France, United States, Xianqiao, Guizhou province, Guizhou, Xinba, Guizhou Province, Stockholm, Jiuquan, Taiyuan, Hainan Island, Munich, Germany, Western, Russia, Hunan Province, Shaanxi province, “, Maldives

☆ Wombat walker: Australia needs help looking after its cutest residents
▼ + stars: | 2024-06-22 | by ( Lilit Marcus | ) edition.cnn.com time to read: +5 min

East Coast Natureworld in Tasmania, Australia, is hiring a “wombat walker” who will help keep these fuzzy marsupials in peak physical condition. Tasmania is also looking for a volunteer paranormal investigator to spend a day (or night …) checking out a spooky abandoned asylum. Now, travelers are looking at Norway and Sweden in the summer while checking out flights for Greece in the cooler fall and spring. New Zealand Prime Minister Christopher Luxon alights from a Royal New Zealand Air Force aircraft. But New Zealand Prime Minister Christopher Luxon isn’t just any ordinary traveler.

Persons: ”, Petros Giannakouris, Sarah Hamouda, Christopher Luxon alights, Andrew Kutan, grumbling, Christopher Luxon isn’t, Luxon, Michelle Wibowo, Simon Jacobs, Edamame Sheeran, Benedict Cucumberbatch, it’s Organizations: CNN, Zealand, Royal New Zealand Air Force, Getty, Air New Zealand –, Qatar Airways, Virgin Australia Locations: Dubai, East Coast, Tasmania, Australia, Athens, Greece, Italy, Hong Kong, Norway, Sweden, AFP, Japan, Air, Doha, South Korea, Matera

Mayor Eric Adams said in a statement that he would activate the city’s heat emergency plan starting on Tuesday. “The first heat wave of the season is here, and New York City has a plan to beat the heat — but we want all New Yorkers to have a plan as well,” Mr. Adams said. The city’s Heat Vulnerability Index — an effort spearheaded by the health department in conjunction with Columbia University — analyzes the neighborhoods that face the most danger during a heat wave. If everybody’s doing it, you’re multiplying it by millions.”Are heat waves in New York City becoming more common? The only heat wave to hit New York City last year happened in September, said David Stark, a meteorologist with the National Weather Service of New York.

Persons: Eric Adams, “, Mr, Adams, Ashwin Vasan, Anna Watts, Sandee, Columbia University —, Brian Ourien, ” Mr, Ourien, Zach Iscol, Vasan, ”, Con Ed, Brittainy Newman, Patrick McHugh, Con Ed ., McHugh, David Stark, Elijah Hutchinson, Hutchinson Organizations: Fire Department, National Weather Service, The New York Times, “, New York Public Library, Columbia University, Department of Health, Human Services, Bowery, Emergency Management, Workers, Con, New, New York City, Environmental Locations: New York City, New York, New, York, Bronx , Brooklyn, Queens, Mott Haven, Fordham, Jamaica, Hollis, St, Albans, In Brooklyn, Brownsville , East Flatbush, East New York

☆ Fears are rising ocean freight rates may surpass $20,000 with no relief for global trade into 2025
▼ + stars: | 2024-06-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

Goetz Alebrand, head of ocean freight at DHL Global Forwarding Americas, said he is not optimistic freight rates will decline anytime soon. "It is unlikely that the situation will resolve itself soon and [ocean freight] rate levels might not ease up before Chinese New Year," Alebrand said. Air freight prices and demand are going higher According to freight intelligence firm Xeneta, China to North America air freight spot rates increased 43%, to $4.88 per kilogram, year-on-year in May. According to ocean freight data from FreightWaves SONAR, container bookings and freight orders from shippers to the ocean carriers are down 48% month-over-month. Xeneta data tracking ocean freight rates from the Far East to the U.S. East Coast, West Coast and Gulf Coast ports shows the historic run.

Persons: Joe Giddens, Paul Brashier, Brashier, Goetz Alebrand, Alebrand, Alan Murphy, Murphy, Peter Boockvar, Boockvar, We've, Nate Herman, Xeneta, Daniel Ives, Niall van de, van de, Good Hope Organizations: Federal Reserve, CNBC, ITS Logistics, DHL Global, Intelligence, Defense Intelligence, U.S ., Bleakley Financial, American Apparel and Footwear Association, Global, ", Apple, Wedbush Securities, Trade, Good Locations: Asia, Europe, Sea, Red, Africa, Shanghai, Rotterdam, Genoa, U.S . West Coast, East Coast, U.S, China, North America, U.S . East Coast , West Coast, Gulf Coast

☆ How East West Bancorp has gained an edge by serving the Asian American community
▼ + stars: | 2024-05-31 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

East West Bancorp shares have eked out a small gain in 2024, up 2%. Despite the heightened scrutiny around regional banks, little-known East West Bancorp has been able to pull ahead thanks to a key customer base: Asian Americans. American dream = home ownershipPart of what's helping East West succeed with Asian Americans goes all the way back to its origins. East West Bancorp was founded in 1973 as a federal savings and loan in the Los Angeles area to service the Chinese American and immigrant community struggling to obtain mortgages and business loans. East West also drives cross-border activity between the U.S. and other Asian countries, such as Thailand and Vietnam.

Persons: Alexander Yokum, Wells, Timur Braziler, Fannie Mae, Freddie Mac, —, Braziler, Christopher Del Moral, Niles, it's, Del, Steven Leung, Leung, CFRA's Yokum, Yokum, Dominic Ng, that's Organizations: East West Bancorp, Regional Banking, Bancorp, West Bancorp, CFRA, Federal Housing Finance Agency, East, East West, U.S, Bancorp's Locations: Southern California, U.S, United States, East, Los Angeles, Asia, FactSet, East West, New York, Beijing, China, Shanghai, Thailand, Vietnam, Washington

☆ Sudden container crunch sends ocean freight rates soaring, setting off global trade alarm bells
▼ + stars: | 2024-05-23 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

AFP Contributor | AFP | Getty ImagesA perfect storm in global trade is creating a shipping container capacity crunch, fueling a sudden and surprise spike in ocean freight rates. Xeneta ocean freight rates show the rallying spot market and the widening spread between spot and long-term rates. An increase in ocean freight rejections shows the imbalance. Logistics price increases are ultimately passed onto the consumer and the dizzying freight rates during the pandemic were among factors cited by the Federal Reserve as a cause of inflation. The International Chamber of Shipping, which represents major ocean carriers, did not immediately respond to a request for comment.

Persons: Emily Stausbøll, Stausbøll, Goetz Alebrand, Alebrand, Judah Levine, Freightos, Levine, Wan Hai, HLS, Drewry, Jonathan Gold Organizations: AFP, Getty, U.S ., Xeneta, DHL, Shipping, Americas, DHL Global, CNBC, Federal Reserve, Orient Star Group, MSC, Chamber of Shipping, Honour, Carriers, Maritime Locations: Qingdao, Shandong province, AFP, Asia, U.S . West Coast, U.S, China, Malaysia, Singapore, Panama, Latin America, Europe, Chongqing, East Asia, South America, Africa, U.S . East Coast

☆ Port of Virginia is making big changes to become No. 1 on the East Coast for super-sized ocean containerships
▼ + stars: | 2024-05-09 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The dredging project is expected to be completed in Fall 2025, making the Port of Virginia the deepest and widest harbor on the East Coast. "Ultra-large container vessels have challenged every port," said Stephen Edwards, CEO of the Port of Virginia. Edwards said the port was able to quickly absorb Baltimore freight because of the ocean carrier service overlap in calling on the Port of Virginia, Baltimore and Port of New York/New Jersey. In January, the port became the first East Coast port to power all its terminals with 100% clean energy, eight years ahead of the 2032 target it set for that goal. The expansion will increase the fleet at NIT to 152 electric stacking cranes, seven electric rail cranes, and 31 electric ship-to-shore cranes.

Persons: Lori Ann LaRocco, Stephen Edwards, " Edwards, Edwards, It's, Good Hope, D'Andrae Larry, Larry, Jones, monopiles, Monopiles Organizations: NIT, CNBC, U.S ., Commonwealth, Walmart, Maersk, Port, Baltimore, Rail, Norfolk International, Uber, Virginia Department of Transportation, Dominion Energy, Rappahannock Electric Cooperative, ClearView Energy Partners, of Ocean Energy, U.S, District of Columbia, Dominion Locations: Port of Virginia, Port, Virginia, U.S . East Coast, Norfolk, Coast, of Virginia, East Coast, U.S, Delaware, South, Southeast Asia, Northeast Asia, India, Red, Suez, Good, Baltimore, Port of Baltimore, Port of New York, New Jersey, of Virginia's, Commonwealth, Norfolk , Virginia, East, Virginia Beach

☆ Imports from China to the US are rising at the highest rate since last fall
▼ + stars: | 2024-04-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Imports coming to the U.S. from China are experiencing a notable increase, according to new trade and logistics data. The first half of 2024 is expected to total 11.7 million TEUs (twenty-foot equivalent units), an increase of 11% from the same period last year. In 2023, imports were down from 2022 by almost 13%, totaling 22.3 million TEUs. By comparison, New York/New Jersey processed 7.81 million TEUs, Georgia 5.4 million TEUs, Virginia at 3.3 million TEUs, Charleston 2.5 million TEUs, Jacksonville 1.3 million TEUs, and Miami 1.25 million TEUs. The other reason for the recent container push is fears of a labor strike at East Coast and Gulf ports.

Persons: John Gold, Francis Scott Key, Jason Hilsenbeck, Drayage.com, Paul Brashier, Brashier Organizations: Future Publishing, Getty, Global, National Retail Federation, Hackett Associates, Francis Scott Key Bridge, Miami, ITS Logistics, CNBC, Baltimore, West Coast, U.S ., Port / Railroad, Longshoremen's Association, United States Maritime Alliance Locations: Taicang, Jiangsu province, China, U.S, Panama, Port of Baltimore, East Coast, New York, New Jersey, Georgia, Virginia, Charleston, Jacksonville, Port of Virginia, Norfolk, Baltimore, NY, NJ, Norfolk and New York, West, West Coast North, U.S . East Coast, West Coast, Los Angeles, Long Beach, Long, Gulf, East

☆ I demand a do-over on the East Coast earthquake
▼ + stars: | 2024-04-05 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +3 min

Read previewAt approximately 10:24 a.m. Eastern, I exited the elevators of the Business Insider offices in lower Manhattan, walked through the lobby, and into the nearly empty office. This story is available exclusively to Business Insider subscribers. I opened X and saw a string of tweets of people who had just experienced a rare East Coast earthquake. As a lifelong East Coast resident, I've never gotten to feel a real earthquake, and I am absolutely furious that I missed this. I propose we get a new earthquake next weekend, at the American Dream Mall in East Rutherford, New Jersey.

Persons: —, Let's, I've Organizations: Service, Business Locations: Manhattan, New Jersey, East Coast, New York, East Rutherford , New Jersey

☆ An Earthquake Startled the Northeast
▼ + stars: | 2024-04-05 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

A 4.8-magnitude earthquake sent tremors from Philadelphia to Boston this morning, rattling New York City skyscrapers and surprising many East Coasters. The earthquake struck at 10:23 a.m. Eastern, with an epicenter near Whitehouse Station, N.J. — about 40 miles west of New York City — according to the United States Geological Survey. It was the largest quake within 250 miles of Manhattan in more than 30 years, and the third largest since the data began in 1957. New Yorkers are more familiar with much smaller tremors, which usually go unnoticed in a city full of rumbles. The city is also filled with old brick buildings, and officials said they remained concerned about the aftereffects of the quake.

Organizations: United States Geological Survey Locations: Philadelphia, Boston, New York City, Whitehouse, N.J, Manhattan

☆ How the Coast Guard is carefully letting ships back into Baltimore port for bridge cleanup
▼ + stars: | 2024-04-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Debris is cleared from the collapsed Francis Scott Key Bridge as efforts begin to reopen the Port of Baltimore on March 31, 2024, in Baltimore, Maryland. Tasos Katopodis | Getty Images News | Getty ImagesCoast Guard officials tell CNBC the secondary channel that is being created in the southwest channel of the Port of Baltimore will only welcome commercial vessels that are cleared by the Coast Guard in the removal of debris. "The vessels will be decided on a case-by-case basis," said Carmen Caver, Coast Guard spokesperson. The draft for the select commercial work vessels that will be permitted by the Coast Guard to help in the removal of Key Bridge debris is 10 feet. Based on a review of AIS data from MarineTraffic, there have been almost 1,000 containership arrivals at Baltimore port since January 2022, with an average TEU (container capacity) of 7,039, according to Nikos Pothitakis, Kpler spokesman.

Persons: Francis Scott Key, Tasos Katopodis, Carmen Caver, Dali, Nikos Pothitakis, Aaron Roth, Roth Organizations: Getty, Coast Guard, CNBC, Francis Scott Key Bridge, Maersk, Dali, Chertoff Group Locations: Port of Baltimore, Baltimore , Maryland, Port, Baltimore, MarineTraffic, East, Dali

☆ These undervalued dividend stocks are poised for a rebound, according to Wall Street
▼ + stars: | 2024-04-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors looking for income along with potential capital appreciation may want to check out a few underperforming dividend stocks. Still, dividend stocks tend to do well during periods of economic recovery, which is now underway, Bank of America said recently . At least 51% of analysts covering these stocks rate them a buy or overweight, and the names have at least 10% upside to the average price target, according to FactSet. Here are those stocks: Mondelez currently has a 2.4% dividend yield and 20% upside to the average price target. About 65% of the analysts covering the stock rate it a buy or overweight, per FactSet.

Persons: Savita Subramanian, Mondelez, Dirk Van de, Christopher Del Moral, Niles Organizations: Bank of America, CNBC, Oreo, Ritz, Chesapeake Energy, Southwestern Energy, East West Bancorp Locations: U.S, Europe, snacking, Marcellus Shale, East

☆ Logistics companies scramble after bridge collapse closes Port of Baltimore until further notice
▼ + stars: | 2024-03-26 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed, Baltimore, Maryland, on March 26, 2024. At the time of the collision, the vessel had two pilots from the Port of Baltimore on board. The steel frame of the Francis Scott Key Bridge lies in the water after it collapsed in Baltimore, Maryland, on March 26, 2024. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. "The collapse of the Baltimore bridge primarily affects coal exports from CNX and CSX terminals," said Madeleine Overgaard, dry market data manager for the global trade data platform Kpler.

Persons: Francis Scott Key, Dali, Roberto Schmidt, Paul Brashier, Brashier, Goetz Alebrand, Wes Moore, Larry, Richard Meade, Meade, Kena Betancur, Andy Lipow, Lipow, Helen Delich Bentley, Judah Levine, Madeleine Overgaard, Levine, Tasos Katopodis Organizations: Afp, Getty Images Logistics, Port, Eastern Seaboard, ITS Logistics, Getty, Americas, DHL Global, Maryland Gov, Baltimore, AFP, Uber Freight, IKEA, Lipow Oil Associates, Maersk, Freightos, CSX, East, Francis Scott Key Bridge Locations: Baltimore , Maryland, Baltimore, New York, New Jersey, Norfolk, Port of Baltimore, Colombo, Sri Lanka, Port, American, Taicang Port, Suzhou, China's, Jiangsu, East Coast, Norfolk , Virginia, Maryland, Midwest, New England, Virginia, North East , Maryland, Gulf Coast, Philadelphia, Suez, CNX, Freightos, Asia, U.S

☆ March Madness: Top seeds for men and women’s 2024 NCAA basketball tournament announced for Selection Sunday
▼ + stars: | 2024-03-17 | by ( Jacob Lev | Issy Ronald | ) edition.cnn.com time to read: +8 min

The other top seeds for the NCAA Division I men’s basketball tournament are the Purdue Boilermakers, North Carolina Tar Heels and Houston Cougars. 2 seeds are Iowa State Cyclones, Marquette Golden Eagles, Tennessee Volunteers and Arizona Wildcats. Thirty-two teams automatically qualified in both the men’s and women’s tournament by virtue of winning their respective conference tournaments. Now that Selection Sunday is all but over, there are only two days for fans to fill out their brackets before the men’s tournament begins on March 19 and the women’s tournament begins the day after. Angel ReeseAngel Reese is another of the tournament’s biggest stars, following her crucial role in propelling LSU to its first ever women’s college basketball title last year.

Persons: Caitlin Clark, Martin, Zach Edey, Kirk Irwin, Barack Obama, George H.W, Bush, Jimmy Fallon, Yale Brigham, James Madison, Howard, Wagner, Saint, Tennessee Martin, Rice, Marshall Syracuse, Caitlin Clark Caitlin Clark, “ Clark, onomics ”, Steph Curry’s, Angel Reese Angel Reese, Matthew Holst, Reed Sheppard, Kentucky’s Reed Sheppard Organizations: CNN, Connecticut, South Carolina, NCAA, Purdue Boilermakers, North, Heels, Houston Cougars, Iowa Hawkeyes, Southern California Trojans, Texas Longhorns, Iowa State Cyclones, Marquette Golden Eagles, Tennessee Volunteers, Arizona Wildcats, Wildcats, Long, Long Beach State, Big West, bluebloods, Duke, SEC, Gamecocks, women’s, Heart, Presbyterian, Iowa, Hawkeyes, Louisiana State, Ohio State, Stetson, Northwestern, San Diego State, Alabama, Auburn, Yale, Yale Brigham Young, Duquesne, Washington State, South Dakota State, South Dakota State South Houston, Texas, . Vermont Texas Tech, NC, Boise State, Kentucky Midwest Purdue, Montana State, Utah State, Texas Christian, Gonzaga, Samford South Carolina, . Oregon, Creighton, Mississippi State, . Michigan, Charleston Clemson, Baylor, Colgate, Dayton, Albany South, Oregon State, Marquette, Notre Dame, Kent State, Albany Iowa, Princeton, Drake ; Kansas State, Portland Louisville, . Middle, ., UCLA, California Baptist, Portland Southern, Michigan, Vanderbilt -, Virginia Tech, Jackson State, Richmond ; Ohio, Maine, Portland Texas, Drexel, Florida, South, Cal Irvine Tennessee, ; North Carolina State, Chattanooga ; Iowa, Maryland, Stanford, NBA, WNBA, LSU, Big, Purdue Locations: South, North Carolina, Long Beach, bluebloods Kentucky, Kansas, Tennessee, Louisiana, Connecticut, Stetson ; Florida, San, Birmingham, Duquesne ; Illinois, Morehead State, Drake, South Dakota State South, Longwood ; Nebraska, Wisconsin, NC State ; Kentucky, Oakland, Florida, Colorado, Marquette, Grambling State, McNeese ; Kansas, ., Akron ; Texas, Virginia, Colorado State ; Tennessee, Peter’s West North Carolina, Mississippi, Saint Mary’s ( California, Canyon, Alabama, New Mexico, . Nevada ; Arizona, Albany South Carolina, . Michigan State ; Indiana, Fairfield ; Oklahoma, Florida Gulf Coast . Nebraska, Eastern Washington ; Mississippi, West Virginia, Drake ;, . Middle Tennessee State, . Nevada, Las Vegas, California, California Baptist Region, Portland Southern California, Christi ; Kansas, Vanderbilt - Columbia, Arizona ; Connecticut, Richmond ;, Drexel ; Alabama, Florida State ; Utah, South Dakota, ; North, Chattanooga ;, Norfolk, South Carolina

☆ ‘World’s coolest’ streets for 2024 named by Time Out
▼ + stars: | 2024-03-13 | by ( Francesca Street | ) edition.cnn.com time to read: +6 min

To produce the 2024 lineup, the global listings guide’s network of editors and writers chipped in to make the case for their favorite streets in their respective cities. High Street’s also great for bar hopping, suggests Time Out, highlighting “intimate and exclusive” rooftop bar Gigi Rooftop and buzzing dance spot Francesca’s Bar. Commerical Drive in Vancouver, Canada is number five on Time Out's list of coolest streets. Rua da Boavista in Lisbon, Portugal is number seven on Time Out's list. High Street, Melbourne2.

Persons: company’s, Leah Glynn, Glynn, ” It’s, Gertrude Street, Melbourne’s omnipresence, ”, Street’s, Marco Finanzio, Gigi, ” Finanzio, “, Ben Mathieson, it’s, ” Matheison, Mathieson, Mo Temple, Kenny Dorham’s, Consell, Rua da, Kathy deWitt, Arnaldo Quintela, Consell de Organizations: CNN, Out, Smith, Casa Nata, CNN Travel, Hollywood, Michelin, East Eleventh, Wine Bar, Rua da Boavista, Bikram, Eleventh Locations: Melbourne, Out Melbourne, Australian, Northcote, Thornbury, Preston, Casa, Francesca’s, Vancouver, Canada, Hong Kong, Mo, Austin , Texas, Barcelona, Spain, Lisbon, Portugal, Bikram Yoga, Guatemala, Buenos Aires, Jalan Petaling, Kuala Lumpur, Tokyo, backstreets, Argentina, Malaysia, Rio de Janeiro, Brazil, Japan

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