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REUTERS/Luisa Gonzalez/File Photo Acquire Licensing RightsCompanies Ecopetrol SA FollowBOGOTA, Sept 11 (Reuters) - Colombia's government is considering revising rules to make majority state-run energy company Ecopetrol (ECO.CN) an obligatory partner in every offshore wind project, three people familiar with the matter told Reuters. If approved, the revision would make it "mandatory for Ecopetrol to take part in each offshore project," another source told Reuters. Having Ecopetrol partner up with other companies on offshore wind farms would "minimize the risks of new projects" one of the sources said, adding that the size of any given Ecopetrol stake would be "very, very small," without hinting at possible percentages. Ecopetrol's involvement in offshore wind projects would help shore up energy self sufficiency, another of the sources said. Plans to hold the bidding round to assign maritime blocks for offshore wind farms are running behind.

Persons: Luisa Gonzalez, Gustavo Petro, Colombia's, Energy Irene Velez, Andres Camacho, Oliver Griffin, Timothy Gardner Organizations: REUTERS, Reuters, The, of Mines, Energy, Thomson Locations: Bogota, Colombia, BOGOTA, Colombia's

☆ Summit Materials to buy Cementos Argos' US unit in $3.2 bln deal
▼ + stars: | 2023-09-07 | by ( Ananta Agarwal | ) www.reuters.com time to read: +1 min

Cement silos of Colombian cement maker Argos are pictured at a plant in Bogota, Colombia May 14, 2019. REUTERS/Luisa Gonzalez Acquire Licensing RightsSept 7 (Reuters) - Summit Materials (SUM.N) said on Thursday it would buy the U.S. operations of Columbia's Cementos Argos (CCB.CN) for about $3.2 billion in cash and stock, in a deal that would make the combined entity the largest U.S.-based cement producer. Cementos Argos, the core unit of industrial conglomerate Grupo Argos (ARG.CN), will own a 31% stake in Summit and receive $1.2 billion in cash payments, subject to certain conditions. The deal, which is expected to close in the first half of 2024, could lead to annual cost savings of more than $100 million, Summit said. Shares of Summit Materials fell 7.92% in mid-day trading.

Persons: Luisa Gonzalez, Columbia's Cementos, Argos, Summit, Anne Noonan, Morgan Stanley, Ananta Agarwal, Savio D'Souza, Maju Samuel, Shweta Agarwal Organizations: REUTERS, Grupo Argos, Summit, BofA Securities, Thomson Locations: Argos, Bogota, Colombia, U.S, Mid, Atlantic, Texas, Summit

☆ Congress is gearing up for a budget showdown. From funding for student-loan repayment to Social Security benefits, here's what's at stake.
▼ + stars: | 2023-09-05 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Already, President Joe Biden has asked for short-term funding to help keep key programs running and head off a potential federal closure. Well, the federal budget year closes out on September 30. AdvertisementAdvertisementRepublicans already have conditionsHouse Speaker Kevin McCarthy has reportedly told his party members that he believes it'll be necessary to pass some sort of short-term funding measure, according to MSNBC. Senate Majority Leader Chuck Schumer similarly told MSNBC that he has met with McCarthy and the duo agreed to try and move forward with short-term funding. While the benefits would still flow, Americans relying on those programs would likely see processing delays and limited customer service.

Persons: Joe Biden, Kevin McCarthy, it'll, Chuck Schumer, McCarthy, GOPers, Donald Trump, Trump Organizations: Service, MSNBC, Republican, Justice Department, FBI, Social Security, SNAP, Management, Department of Agriculture, Assistance, Child Nutrition, Women, Children, Congressional Locations: Wall, Silicon, pare, Ukraine, Washington

☆ Chinese electric carmakers ramp up push overseas, setting up clash with U.S., European auto giants
▼ + stars: | 2023-09-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCMunich, GERMANY — The IAA in Munich, Germany is one of Europe's most high-profile auto shows. And it was dominated by Chinese electric car firms looking to expand their presence on the continent and challenge incumbents from BMW to Ford in the new era of battery-powered vehicles. But a slowing market at home, due to tepid consumer spending after Covid-19 restrictions were lifted, coupled with an attractive market in Europe, has seen Chinese firms launch cars abroad and expand their footprint. Many of the European carmakers have been seen lagging in their push into EVs at a time when Chinese players have launched dozens of new vehicles. watch nowThe entrance of Chinese firms into Europe is seen as a threat to big automakers who have been perceived to be moving too slow on EVs.

Persons: BYD, Arjun Kharpal, Daniel Roeska, Roeska, Zhu Jiangming, Warren Buffett, Xpeng, Brian Gu, Gu, Bernstein, Tesla, Mercedes, Xpeng's Gu Organizations: CNBC, BMW, Ford, EV, Bernstein Research, Leapmotor, Tesla, IAA Locations: Europe, Munich, Germany, CNBC Munich, GERMANY, China, Hangzhou, Norway, Sweden, Denmark, Netherlands, Guangzhou, EVs

On Sunday, Evergrande reported losses of 33 billion yuan ($4.53 billion) for the first half of the year, versus a 66.4 billion yuan loss in the same period a year earlier. The Chinese property sector’s worsening debt crisis poses a significant challenge for President Xi Jinping and his policy makers, with the country’s economy already reeling from weaker domestic and overseas demand. China’s State Council Information Office, which handles media queries on behalf of the government, declined to comment on the property market and Evergrande’s fate. He sold the first complex the following year for 80 million yuan, according to Evergrande’s website. The committee investigated the matter after banks seized 13.4 billion yuan ($1.84 billion)of deposits held by the property-services unit in 2021.

Persons: Aly, Hui Ka Yan, Hui, Evergrande, Suppliers haven’t, ”, Anne Stevenson, Yang, Evergrande’s, Xi Jinping, Reuters wasn’t, Kelly Richmond Pope, ” Hui, “ Evergrande, Stevenson, Engen Tham, Julie Zhu, Clare Jim, Cassell Bryan Organizations: China Evergrande Group, REUTERS, Rights, China Evergrande, HK, Reuters, Suppliers, J Capital Research, Information Office, Political, Conference, Guangzhou Evergrande, soccer’s, Hong, Forbes, HengTen Networks, Management, Chicago’s DePaul University, Evergrande, Financial, Communist Party, “, China, Shanghai, Cassell, Low, Thomson Locations: China, Shenzhen, Guangdong province, Rights SHANGHAI, HONG KONG, United States, U.S, China’s, Henan province, Beijing, Hong Kong, Guangzhou, Evergrande, HengTen, Evergrande’s Hong Kong, Shanghai

☆ Tiananmen musical: Broadway star quits US show during China tour
▼ + stars: | 2023-08-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +5 min

CNN —A Broadway star has withdrawn from a musical about the Tiananmen Square protests weeks before its debut in the US – while he is on a concert tour in China. “I have withdrawn from the musical Tiananmen,” Piser said in a brief signed statement on Instagram. His manager Dave Brenner told CNN “there was a creative difference” that caused the actor to back out of the Tiananmen musical. Piser’s announcement came a day after his role in the Tiananmen musical was reported by Playbill, an American magazine for theater fans. The rehearsals for the Tiananmen musical start in Phoenix on September 5, according to Rose, the lead producer.

Persons: Zachary Noah Piser, “, ” Piser, Piser, –, Dave Brenner, Wu’er, ”, Jason Rose, ” Rose, Wu'er, Nicholas Kamm, Evan Hansen, Rose, Xi Jinping, Kaixi Organizations: CNN, Tiananmen, “, The Phoenix Theatre Company, Playbill, Getty, Broadway, Communist Party Locations: China, Phoenix , Arizona, Shanghai, Beijing, Hong Kong, Phoenix, American, Washington , DC, Nanjing, Chengdu, Shaanxi, Taiwan

☆ Colombia's Grupo Aval posts 75% fall in profit as bank margins fall
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

People walk in front of the Banco de Bogota, belonging to Grupo Aval, in Bogota, Colombia, October 31, 2019. REUTERS/Luisa Gonzalez/File photo Acquire Licensing RightsAug 16 (Reuters) - Colombian financial conglomerate Grupo Aval reported a 75.4% year-over-year fall in net profit in the second quarter, according to a securities filing on Wednesday, despite a strong boost in interest income. In the three-month period to June, net profit reached 166.2 billion pesos ($40.6 million). The financial portfolio of Grupo Aval (GAA.CN) includes Colombian banks Banco de Bogota (BBO.CN), Banco Popular (BPO.CN), Banco AV Villas (VLL.CN) and Banco de Occidente (BOC.CN). ($1 = 4,096.08 Colombian pesos)Reporting by Noe Torres in Mexico City, Writing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Luisa Gonzalez, Noe Torres, Isabel Woodford Organizations: Banco, Bogota, Grupo Aval, REUTERS, Colombian, Grupo, Banco de Bogota, Banco Popular, Banco AV Villas, Occidente, Thomson Locations: Bogota, Colombia, Colombian, Mexico City

☆ Colombian conglomerate Grupo Aval, subsidiary settle charges of violating US law
▼ + stars: | 2023-08-10 | by ( Kanishka Singh | Thomson Reuters | Kanishka Singh Is A Breaking News Reporter For Reuters In Washington Dc | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File PhotoWASHINGTON, Aug 10 (Reuters) - Colombian conglomerate Grupo Aval (GAA.CN) and its bank subsidiary will pay over $80 million to settle charges of violating anti-corruption laws, U.S. authorities said on Thursday. After the settlement was reached, Grupo Aval said the Justice Department did not bring any enforcement action and the SEC did not make a claim against the company for bribery. Corficolombiana will pay a criminal penalty of $40.6 million, the U.S. Justice Department said in a statement. Corficolombiana had conspired with Brazilian construction firm Odebrecht to pay bribes to Colombian government officials, according to prosecutors. Corficolombiana also agreed to continue enhancing its compliance program and providing reports to the Justice Department regarding remediation and the implementation of compliance measures, the Justice Department said.

Persons: Andrew Kelly, Grupo Aval, Corficolombiana, Odebrecht, Kanishka Singh, Isabel Woodford, Leslie Adler, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Grupo Aval, U.S . Foreign, U.S . Justice Department, Securities and Exchange Commission, SEC, Grupo, Justice Department, Odebrecht, U.S, Thomson Locations: Washington ,, Colombian, disgorgement, Swiss, Peru, Mexico, Argentina, Colombia, U.S, Washington

☆ China's heading for another real estate crisis — but it's on a whole different scale than what it's seen before
▼ + stars: | 2023-08-10 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +8 min

Country Garden, a massive Chinese property developer, missed interest payments on two dollar bonds this week. However, it's the scale of Country Garden's projects that is a big warning signal for the Chinese real estate sector and the wider economy. Evergrande faced a liquidity crisis in 2020, prodding it to try to halve its around $100 billion debt by mid-2023. These efforts were scuppered by a slowdown in China's property sector and regulators' efforts to put brakes on property developers borrowing excessively. However, putting the brakes on borrowing started sending the property sector into a crisis.

Persons: Kristy Hung, Yang Guoqiang, Yang Huiyan, Yang, Moody's, Sandra Chow, Evergrande, Huileng Tan Organizations: Service, Bloomberg Intelligence, Hong Kong Stock Exchange, CNN, China Index Academy, Reuters, Pacific Research, New York Times, Caixa Bank Locations: Beijing, Wall, Silicon, China, Evergrande, Foshan, Asia, Pacific, CreditSights

☆ Country Garden CEO, Yang Huiyan, one of the world's richest women, loses 84% of fortune
▼ + stars: | 2023-08-09 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

Country Garden, once China’s largest developer, missed interest payments on two US dollar-denominated bonds, reports said Tuesday, troubling investors as China’s sinking property sector takes yet another hit. CNN has reached out to Country Garden for comment. Collapse in confidenceState-owned media outlet Paper.cn, citing an anonymous company source, reported that Country Garden suffered “temporary liquidity pressure” due to deteriorating sales and a difficult refinancing environment. Country Garden still has a 30-day grace period before would be labeled as a defaulter. Country Garden hit the public market in 2007 with a record-setting, headline-grabbing $1.7 billion IPO in Hong Kong.

Persons: New York CNN — Yang Huiyan, “, China’s, Yang, Yang Guoqiang Organizations: New, New York CNN, Bloomberg, CNN Locations: New York, Hong Kong

☆ Country Garden default? China's property crisis deepens as developer misses bond payments
▼ + stars: | 2023-08-09 | by ( Laura He | ) edition.cnn.com time to read: +5 min

The latest major industry player to get into trouble is Country Garden, once China’s largest developer. Several of Country Garden’s yuan-denominated bonds were suspended from trading in Shanghai and Shenzhen on Tuesday after they dropped by more than 20%. Country Garden did not respond to a request from CNN for comment. An aerial view of a residential project developed by Country Garden Holdings is seen in Zhenjiang, Jiangsu province on October 31, 2021. Property crisis deepensChina’s property industry has been mired in a historic downturn in the past two years.

Persons: “, Fang Dongxu, ”, Edward Moya, Moody’s, Kaven Tsang, Li Qiang Organizations: Hong Kong CNN —, Reuters, CNN, Country Garden Holdings, China Index Academy, Oanda, China’s, People’s Bank of Locations: Hong Kong, Shanghai, Shenzhen, Zhenjiang, Jiangsu province, China, Moody’s, Beijing, People’s Bank of China

☆ Rail freight from Canada to U.S. continues to drop after ports strike
▼ + stars: | 2023-07-27 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Last week, total rail volume from Canada to the U.S. was down 12%, according to The Association of American Railroad's latest rail traffic report for the week ending July 22. This was an improvement given the first full week of the strike saw a 46% decrease in rail trade from Canada, and the second week suffered a 36% decrease. Rail traffic from Canada into the U.S. had a third-straight weekly drop as a result of the on-again, off-again strike at the West Coast Canadian ports. When the first strike ended on its thirteenth day, delays for rail containers were estimated at 39 to 66 days. Adding another day with the on-again, off-again strike last week, brings the congestion removal tally up to 42-70 days.

Persons: Port of Prince Rupert, Doug Macdonald, Rupert, Blaine Davidson, Terri Shimensky, Shimensky, Eric Byer, Byer, NACD Organizations: The Association of American, West Coast, Railway Association of Canada, CNBC, The Railway Association of Canada, Port, National Association of Chemical Distributors, CN, U.S ., Railroads, Canada, Association of American Railroads Locations: Canada, Port of Vancouver, Port of, Vancouver, Ohio, of Long, U.S . West Coast, U.S, Chicago, West

BOGOTA, July 27 (Reuters) - Colombian police have seized property and bank accounts worth 1.3 trillion pesos ($329 million), proceeds from the sale and export of stolen crude oil, officials said on Thursday. To sell the stolen oil, criminal groups mixed it with legally-bought crude so it could be exported via front companies, police said. Colombia's majority state-owned oil company Ecopetrol (ECO.CN) was the main victim of the scheme, costing it 60 billion pesos, police added. The gangs stole crude from Colombia's Cano Limon-Covenas pipeline which runs parallel to the border with Venezuela. Furthermore, "large quantities" of light Venezuelan crude were brought into Colombia before being mixed with Colombian oil and exported via the Cano Limon-Covenas pipeline, the statement said.

Persons: Cano, Katherine Casas, Cano Limon, Luis Jaime Acosta, Oliver Griffin, Grant McCool Organizations: Colombian, Interpol, Reuters, National Liberation Army, Police, Thomson Locations: BOGOTA, Narino province, Venezuela, Pacific, Buenaventura, Colombia

☆ Nova Scotia wrestles with aftermath of devastating floods
▼ + stars: | 2023-07-23 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

[1/2] Water flows through a washed-out culvert on the main CN Rail line which leads to the port of Halifax, after the heaviest rain to hit the Atlantic Canadian province of Nova Scotia in more than 50 years triggered floods, in Truro, Nova Scotia, Canada July 23, 2023. Nigel Gloade/Millbrook First... Read moreJuly 23 (Reuters) - The Atlantic Canada province of Nova Scotia began cleaning up on Sunday after torrential rainfall caused devastating flooding, while the search continued for four people including two children who went missing during the deluge. CBC meterologist Ryan Snoddon said it was the most rain to hit the provincial capital Halifax since Hurricane Beth in 1971. The resulting floods washed away roads, weakened bridges and swamped buildings, in what Nova Scotia premier Tim Houston described as "unimaginable damage"Nova Scotia declared a province-wide state of emergency late on Saturday night that will last until Aug. 5. Nova Scotia Power's outage map showed just over 5,000 customers were without electricity on Sunday, down from around 80,000 at the height of the storms.

Persons: Nigel Gloade, Read, CBC meterologist Ryan Snoddon, Hurricane Beth, Tim Houston, Nia Williams, Andrea Ricci Organizations: Atlantic, CBC, Hurricane, Nova, Royal Canadian Mounted Police, Thomson Locations: Halifax, Atlantic Canadian, of Nova Scotia, Truro , Nova Scotia, Canada, Millbrook, Atlantic Canada, Nova Scotia, British Columbia

☆ BYD launches its most direct Tesla competitor yet
▼ + stars: | 2023-07-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

The Denza N7 is set to begin deliveries in about two weeks, according to the company. In another page from Nio's playbook, the Denza N7 launch in Beijing was followed by a live music performance. Its prior electric model, the D9 multi-purpose vehicle, claims more than 10,000 sales a month since since March. At the time Zeng said he expected competition in China's new energy vehicle market would move into the 400,000 yuan to 500,000 yuan price range and above. The 100,000 yuan to 200,000 yuan price range has been the primary price range for cars in China, Zeng said.

Persons: Yang Dongsheng, Tesla, Tu Le, Denza, playbook, Denza's, Zhao Changjiang, BYD, Nvidia Orin, Orin isn't, Yang, Craig Zeng, Zeng Organizations: Bloomberg, Getty, Tesla's, Tesla, Benz Group, Tech, Benz, BMW, Audi, Qualcomm, Nvidia, CNBC Locations: Beijing, BEIJING, China, Weibo, Thailand, Hong Kong, Macao, Europe

A union representing port workers in Western Canada officially began striking, an action that could have ripple effects reaching beyond the U.S.'s northern neighbor. The International Longshore & Warehouse Union Canada's Longshore Division announced its labor strike began in a Saturday Facebook post signed by union president Rob Ashton. More than 99% of members of the union, who support West Coast ports such as Vancouver and Prince Rupert, voted to approve the strike last month. In an email to CNBC, BNSF said it had no comment on a strike impact. In a CPKC customer advisory issued Wednesday, the railway said: "The work stoppage related to this notice could impact port operations in British Columbia.

Persons: Rob Ashton, Prince Rupert, Ashton, Seamus O'Regan Jr, Port of Prince Rupert, Paul Brashire, of Prince Rupert, Berkshire Hathaway, CPKC, Steve Lamar Organizations: Warehouse, Longshore Division, Facebook, Canada Longshore, British Columbia Maritime Employers Association, Canadian, U.S, CNBC, Tacoma ., Longshoremen's Association, Warehouse Union, ITS Logistics, Port, BNSF, American Apparel and Footwear Association Locations: Western Canada, West Coast, Vancouver, British, Canada, Port, Port of, Asia, Seattle, Tacoma, U.S, Chicago, Detroit, of, Canadian Pacific, Berkshire, British Columbia

☆ Smoke will keep pouring into the US as long as fires are burning in Canada
▼ + stars: | 2023-07-01 | by ( Alaa Elassar | ) edition.cnn.com time to read: +17 min

Massive fires burning in remote areas – like some of those currently burning in northwestern Quebec – are often too out of control to do anything about. Ed Jones/AFP/Getty Images Smoke from wildfires in Canada shrouds the view of the Statue of Liberty on Friday in New York. Jim Watson/AFP/Getty Images Smoke and haze is seen from the Lincoln Memorial in Washington, DC, on Tuesday, June 27. Matt McClain/The Washington Post/Getty Images Smoke from Canadian wildfires obscures the visibility in Pittsburgh on June 8. Another issue is the increase in the wildfires are caused by climate change, and are simultaneously making climate change worse.

Persons: ” Robert Gray, you’ve, they’re, “ There’s, don’t, ”, Daniel Perrakis, ” Gray, Shiraaz Mohamed, Gray, “, ” Perrakis, Ed Jones, David Dee Delgado, Gary Hershorn, Haze, Gene J, Jim Watson, Megan Smith, Kamil Krzaczynski, Cpl Marc, Andre Leclerc, Drew Angerer, Shannon Stapleton, Ronald Reagan, Saul Loeb, Matt McClain, Emmalee Reed, Hannah Beier, Mandel Ngan, New York City, Timothy A, Clary, Mike Segar, John Minchillo, Shanita Hancle, Seth Wenig, Matt Rourke, Ting Shen, Matt Slocum, Amr Alfiky, John Meore, Leah Millis, George Washington, Peter Carr, Yuki Iwamura, Kareem Elgazzar, Carlos Osorio, Frank Franklin II, Merrily Cassidy, Spencer Colby, Jason Rock, BJ Fuchs, Anne, Sophie Thill, we’ve, it’s Organizations: CNN, Canadian Forest Service, Firefighters, Getty, ” “, Nature Conservancy, Rockefeller Center, North, Corbis, PNC Park, Major League Baseball, Pittsburgh Pirates, San Diego Padres, Traffic, Chesapeake, Lincoln Memorial, USA, People, Canadian Forces, Reuters, BC, Service, Xinhua, Ronald Reagan Washington National Airport, Washington Post, Bloomberg, Capitol, Trade, AP Transit, T, Alberta Wildfire, New, New York City, Getty Images Workers, Citizens Bank, Philadelphia Phillies, New York Yankees, Empire, George Washington Bridge, New York State Thruway, Cincinnati Enquirer, Cape Cod Times, Anadolu Agency, Canadian Press, AP, Wildfire Service, Communications, Space, NASA, Reuters Firefighters, Kamloops Fire Rescue, Shining Bank Locations: Wisconsin, Vermont, North Carolina, Canada, Quebec, Canadian, British Columbia, Alberta, Ontario, Mexico, Costa Rica, Chile, Spain, Australia, New Zealand, South Africa, South Korea, France, AFP, New Jersey, Manhattan, New York, North America, New, Pittsburgh, Stevensville , Maryland, Washington ,, Chicago, Lake Michigan, Mistissini, Ronald Reagan Washington, Arlington , Virginia, Washington, Philadelphia, Elmont , New York, Baltimore, Evansburg , Alberta, Brooklyn , New York, Piermont , New York, Fort Lee , New Jersey, George, West Nyack, New York's, New York City, Cincinnati, Rock Harbor, Massachusetts, Cape Cod, Ottawa, Fort Nelson, Shelburne County , Nova Scotia, Communications Nova Scotia, Shelburne , Nova Scotia, Fort St, John, Kamloops, Shining Bank , Alberta, Lytton

☆ ILWU Canada West Coast port workers to strike starting July 1 in blow to recovering supply chain
▼ + stars: | 2023-06-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

After a recent landslide vote of union members, the ILWU Canada has served notice it plans to strike at the country's West Coast ports starting on July 1. ILWU Canada said in a statement on Wednesday that its goal is to protect jobs and claims the British Columbia Maritime Employers Association is demanding major concessions. Impact to U.S. economy and tradeThe biggest port to be affected by this strike is the Port of Vancouver, the largest port in Canada. So far, ILWU Canada has declined this binding mediation & arbitration proposal," it said. But logistics managers tell CNBC that news of the Canadian port worker strike is a blow to operations.

Persons: Prince Rupert, ILWU, Rob Ashton, BCMEA, Port of Prince Rupert, Berkshire Hathaway, Vancouver and Prince Rupert, Jon Gold, General Mills, Jeff Harmening, Paul Brashier, Brashier Organizations: Canadian Labor, ILWU, British Columbia Maritime Employers Association, Canadian, Port, Vancouver Fraser Port Authority, U.S, BNSF, U.S ., National Retail Federation, CNBC, Retailers, General, ITS Logistics Locations: Canada, Coast, ILWU Canada, West Coast, Vancouver, British, of Vancouver, Canadian, Vancouver Fraser, U.S, Port of Vancouver, Port of, West, CN, Canadian Pacific, Berkshire, Panama, U.S . West Coast, Midwest, Chicago

☆ Icon of the Seas: The world's biggest cruise ship is almost ready
▼ + stars: | 2023-06-27 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

Royal Caribbean International’s Icon of the Seas is a mammoth 365 meters long (nearly 1,200 feet) and will weigh a projected 250,800 tonnes. Royal Caribbean InternationalIt’s being built at Meyer Turku shipyard, one of Europe’s leading shipbuilders, in Turku, Finland. At an on-site press panel earlier this year, Royal Caribbean International president and chief executive Michael Bayley told media that the vessel was on track to join the Royal Caribbean fleet on October 26, ahead of its 2024 debut. The Icon completed its first set of sea trials on June 22, according to a Royal Caribbean statement. Royal Caribbean InternationalThe ship promises more than 40 ways to dine, drink and be entertained, many of which are included in the cruise fare.

Persons: Michael Bayley, ” Bayley Organizations: CNN, Royal Caribbean, CN, Meyer Turku, Royal Caribbean International, Royal Locations: Finland, Turku, Royal Caribbean, Caribbean, Western, Miami, CocoCay, Beach

NEW YORK, June 22 (Reuters) - A U.S. judge on Thursday imposed sanctions on two New York lawyers who submitted a legal brief that included six fictitious case citations generated by an artificial intelligence chatbot, ChatGPT. U.S. District Judge P. Kevin Castel in Manhattan ordered lawyers Steven Schwartz, Peter LoDuca and their law firm Levidow, Levidow & Oberman to pay a $5,000 fine in total. Levidow, Levidow & Oberman said in a statement on Thursday that its lawyers "respectfully" disagreed with the court that they acted in bad faith. Lawyers for Avianca first alerted the court in March that they could not locate some cases cited in the brief. His order also said the lawyers must notify the judges, all of them real, who were identified as authors of the fake cases of the sanction.

Persons: District Judge P, Kevin Castel, Steven Schwartz, Peter LoDuca, Levidow, Oberman, Schwartz, LoDuca, Avianca, Bart Banino, Sara Merken, Leigh Jones, Jamie Freed Organizations: YORK, District Judge, Colombian, Avianca, Thomson, & $ Locations: U.S, York, ChatGPT . U.S, Manhattan

☆ ILWU Canada workers authorize strike in landslide vote, a 'significant blow' to West Coast ports
▼ + stars: | 2023-06-12 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

In a landslide vote, over 99% of ILWU Canada union workers critical for West Coast port operations, including in Vancouver and Prince Rupert, voted in favor of supporting a strike. The biggest port to be affected is the Port of Vancouver, the largest port in Canada. It is estimated that Canadian West Coast ports handle almost $225 billion worth of cargo a year, with items transported by rail including many consumer products, from apparel to electronics and home goods. The threat of a strike is occurring as labor tensions have escalated at U.S. West Coast ports. "This is a significant blow to operations on the West Coast," said Paul Brashier, vice president of drayage and intermodal at ITS Logistics.

Persons: Prince Rupert, Port of Prince Rupert, Prince Rupert Port Authority's, Brian Friesen, Berkshire Hathaway, Port, slowdowns, Paul Brashier, Adil Ashiq Organizations: ILWU, British Maritime Employers Association, Federal Maritime Conciliation, Port, Vancouver, Vancouver Fraser Port Authority, U.S, BNSF, U.S ., Pacific Maritime Association, ITS Logistics, Cargo, MarineTraffic, CNBC Locations: ILWU Canada, West Coast, Vancouver, of Vancouver, Canada, Canadian, Vancouver Fraser, U.S, Port of Vancouver, Port of, West, CN, Canadian Pacific, Berkshire, U.S . West Coast, Port, Seattle, Midwest, Chicago, Panama, East, North America

REUTERS/Carlos OsorioWINNIPEG, Manitoba, June 11 (Reuters) - The number of wildfires raging out of control across Quebec dropped on Sunday as firefighters in the Canadian province gained the upper hand in some areas, a provincial minister said on Sunday. Quebec Natural Resources Minister Maite Blanchette Vezina said told reporters that the number of out-of-control fires in the eastern province dropped to 44 from 72 on Saturday, the Canadian Broadcasting Corp reported. By Monday, around 1,200 firefighters, including more than 100 from France and some from other provinces, are expected to be battling blazes across Quebec. A federal government meteorologist forecast on Saturday that Quebec could receive light rain on Tuesday in some burning areas. "Last Wednesday, we thought we could close down our emergency control center and come Friday, that idea went out the door when the fires went out of control very drastically," said Luc Mercier, chief administrative officer for Yellowhead County.

Persons: smokey, Carlos Osorio, Maite Blanchette Vezina, Blanchette Vezina, Luc Mercier, Karley, Rod Nickel, Marguerita Choy Organizations: REUTERS, Carlos Osorio WINNIPEG, Quebec Natural Resources, Canadian Broadcasting Corp, Canadian Interagency Forest Fire, Edmonton, Wildfire Service, Thomson Locations: Ontario, Quebec, Toronto , Ontario, Canada, Carlos Osorio WINNIPEG , Manitoba, Canadian, France, New Brunswick, Alberta, Edson, Yellowhead County, Pacific, British Columbia, Tumbler, Winnipeg, Manitoba

REUTERS/Carlos OsorioOTTAWA, June 10 (Reuters) - The Canadian province of Quebec says rain and outside help could help win the fight against more than 100 forest fires producing plumes of smoke that have left cities on the Atlantic seaboard gasping for breath. "Some rain is forecast ... in the next few days there is a risk the situation will stay critical. But the arrival of French firefighters is really going to help," forestry minister Maite Blanchette Vezina told reporters on Friday. By late Friday there were 422 fires across Canada, 125 of them in Quebec. Please use caution so that we can try our best to avoid a catastrophic fire season," British Columbia Premier David Eby told reporters on Friday.

Persons: smokey, Carlos Osorio, Maite Blanchette Vezina, Gerald Cheng, Columbia Premier David Eby, Vezina, Francois Bonnardel, David Ljunggren, Matthew Lewis Organizations: REUTERS, Carlos Osorio OTTAWA, Authorities, Columbia Premier, Thomson Locations: Ontario, Quebec, Toronto , Ontario, Canada, Canadian, France, Germany, Spain, Federal, Pacific, British Columbia, Ottawa

Rey Steve Mabiala and his wife, Liz Gouari, taking refuge at the Roberval emergency center after being ordered to evacuate Chibougamau, Quebec, as a fire approached. Of the more than 400 fires now burning in Canada, more than one-third are in Quebec, which has already registered its worst wildfire season on record. Credit... Carlos Osorio/Reuters“We are facing some unprecedented events, including droughts, accelerated fires and heat waves, and there will be more over time, especially forest fires,” Ms. Mohsin said. But perhaps most surprised were newcomers to Chibougamau, like Mr. Mabiala, from the Republic of Congo, who came to work in logging. “They were asking, “Oh, is there such a thing in Canada?’ ’’ Ms. Cabrera said.

Persons: Rey Steve Mabiala, Liz Gouari, Gouari, Mabiala, Prince Edward Island, ” Mr, “ It’s, ”, Josée Poitras, Tanzina Mohsin, Carlos Osorio, Ms, Mohsin, Poitras, “ I’ve, I’ve, Francis Côté, “, Chibougamau, Renaud Philippe, Côté, Guy Boisvert, Winters, Boisvert, Shirley, Jonathan Mattson, Mr, Mattson, Ruth Cabrera, Anna Huerte, —, Cabrera, Huerte Organizations: Wildfire, University of Toronto, ., Reuters, The New York Times, “, Credit Locations: Chibougamau, Quebec, Africa, Canada, North America, Republic of Congo, Prince, Nunavut, Fort Nelson, British Columbia, Toronto, Val, Montreal, Roberval, East Coast, United States, Philippines

☆ Elon Musk says his Shanghai factory makes the ‘highest quality’ Teslas
▼ + stars: | 2023-06-02 | by ( Laura He | ) edition.cnn.com time to read: +4 min

It was the first time Musk has visited the country since January 2020, when a video of him dancing onstage at Tesla’s Shanghai factory went viral. Before leaving, Musk met Chen Jining, the Communist Party chief of Shanghai, according to a statement by the city government. Musk praised the success of Tesla’s Shanghai facility — which opened in 2019 — and said he was hoping to work more with the city in various areas, the statement said. In 2022, the company delivered 1.31 million vehicles globally, more than half of which were from Shanghai, according to its financial results. “Congratulations to Giga Shanghai & Tesla China SDS teams for their excellent work overcoming many obstacles over many years!!

Persons: Hong Kong CNN —, Elon Musk, Musk, Chen Jining, Chen, Tesla, —, Variflight, ”, “, ” Musk, “ It’s, ” “, Elon, Jade Gao, Qin Gang, didn’t, Zeng Yuqun Organizations: Hong Kong CNN, Communist Party, Beijing Capital International Airport, Getty, Financial Times, Twitter, Giga Shanghai, Tesla China SDS, EV, CNN Locations: Hong Kong, China, Shanghai, Shanghai’s Hongqiao, Beijing, AFP, United States, Weibo

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