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☆ 2 reasons why Red Sea disruptions won't send inflation soaring again, according to Goldman Sachs
▼ + stars: | 2024-01-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Goldman Sachs doesn't expect an inflation spike in the US fueled by turmoil in the Red Sea. To be sure, Red Sea disruptions have caused freight costs to soar as much as 350%. AdvertisementShipping disruptions in the Red Sea have caused freight costs to spike, but the impact on inflation will remain muted, according to Goldman Sachs. Goldman Sachs Global Investment ResearchHowever, they maintained that goods inflation still won't see a meaningful uptick for two reasons. "Under reasonable pass-through assumptions, a 100% increase in the cost of sea freight therefore only raises core goods inflation by around 0.4pp and overall core inflation by around 0.1pp," the Goldman strategists said.

Persons: Goldman Sachs, —, Jan Hatzius, Hatzius Organizations: Service, Shipping, Goldman Sachs Global Investment Research, Goldman Locations: Red, Iran, Israel, Gaza, Suez, Asia, Europe, China, Southeast Asia, 0.4pp, 0.1pp

☆ 3 reasons the US economy's strength right now is a head-fake, according to Mohamed El-Erian
▼ + stars: | 2024-01-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The narrative that the US economy could achieve a soft landing still faces challenges, Mohamed El-Erian told Bloomberg TV. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMarket confidence in a US soft landing ignores three vulnerabilities that still pose a recessionary threat, economist Mohamed El-Erian told Bloomberg TV. The bank expects a noticeable mid-year slowdown, contrasting Wall Street's soft landing consensus. Secondly, inflation will also keep a recession on standby, as it's no given that it won't rebound, El-Erian warned.

Persons: Mohamed El, Erian, —, it's, Wells, November's, I've, Yemen's Houthi Organizations: Bloomberg, Service, Federal Reserve Locations: Europe, Red, Africa

☆ Icon of the Seas: Why Americans Are Obsessed With Big Cruise Ships
▼ + stars: | 2024-01-25 | by ( Henry Wismayer | ) www.businessinsider.com time to read: +17 min

Love them or loathe them, giant cruise ships are among the most remarkable success stories of the mass tourism age. Rechristened the Mardi Gras, the first Carnival cruise ship sailed out of Miami that March. Cruise ships like the Icon of the Seas will spend the majority of their trip at sea. Eight years later, cruise ships such as the Diamond Princess became early incubators for COVID-19. Cruise Market Watch forecasts there will be 360 cruise ships in service at the end of this year, comprising less than 1% of the global commercial fleet.

Persons: Ted Arison, Arison, Pieter De Boer, Costa, Diamond, Aaron Saunders, We've, Sue Bryant, Z, sass, Emma Le Teace, YouTuber, David Foster Wallace, Harper's, Sarah Knorr, Bryan Comer, Karla Hart, Hart, Saunders, it's, Henry Wismayer Organizations: Port, Passengers, Mardi Gras, Mardi, Gras, Cruise, Royal Caribbean, Costa Concordia, Cruise Lines International Association, Broadway, CivicScience, Royal, Virgin, Business, Transport & Environment, Getty, International Council, Global Cruise, Global Cruise Activist Network, Cruise Market, Royal Caribbean International, New York Times, National Geographic, Financial Times Locations: Port of Miami, Caribbean, Miami, The Port, Tuscany, Italy, Royal Caribbean, TikTok, Panama, Bahamas, Brussels, Netherlands, Douarnenez, Venice, Dubrovnik, Croatia, Amsterdam, Juneau , Alaska, Skagway , Alaska, CocoCay, London

☆ A student was trapped inside an empty Amtrak train after she fell asleep during the ride and missed her stop
▼ + stars: | 2024-01-23 | by ( Monica Humphries | ) www.businessinsider.com time to read: +4 min

Read previewAria Lockhart boarded an Amtrak train around 3 a.m. out of Carbondale, Illinois, headed for Chicago on Sunday. "I stood up, and I looked around, and the entire car was empty," Lockhart told the outlet. Jackson told WGN that Amtrak's customer service representatives didn't offer much help. "If anyone was trapped on the train that would be some type of urgency, and I didn't see that," Jackson told WGN. AdvertisementAnd in January 2023, Amtrak passengers were stuck on a train for more than 20 hours on a ride from Virginia to Orlando.

Persons: —, Lockhart, Victoria Jackson, Jackson, KIRO, Sam Sweeney, they’re, — Sam Sweeney Organizations: Service, Amtrak, Chicago, Business, Southern Illinois University, WGN, Chicago's, BI, Passengers, ABC News Locations: Carbondale , Illinois, Portland , Oregon, Seattle, Virginia, Orlando, reroute, South Carolina

☆ These charts show how much traffic has plunged in the Suez and Panama canals — and the potential impact on inflation
▼ + stars: | 2024-01-22 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Read previewThe number of vessels passing through the Suez Canal and Panama Canal have dropped 50% from normal levels, according to Apollo Management's top economist. AdvertisementSuez Canal slowdownAbout 12% of global trade passes through the Suez Canal, according to an estimate from the US Naval Institute. Related stories"Normally, 200 ships travel through the Suez Canal from south to north over a week, but that number has recently declined to 100," Sløk wrote. Suez Canal traffic is down 50% APThe trouble in the Suez Canal has been ratcheting up as Yemen-based Houthi rebels have been launching attacks against ships in the Red Sea, forcing some ships to take longer — and costlier — detours. And although goods inflation has been tumbling, higher shipping costs could send that back up again if they continue to follow recent trends.

Persons: —, Torsten Sløk, Sløk, Thierry Wizman Organizations: Service, Business, US Naval Institute, Apollo, Container, Shipping, Apollo Management, Macquarie Locations: Suez, Panama, Yemen, Red, Shanghai, Rotterdam, Drewry

☆ The US has moved from shooting Houthi threats out of the sky to blowing them up before they even get off the ground
▼ + stars: | 2024-01-18 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

US Navy ships spent months intercepting the Houthi attacks and warning them to stop to no avail. CENTCOM said that it "conducted strikes on 14 Iran-backed Houthi missiles that were loaded to be fired in Houthi controlled areas in Yemen." In all of these cases, the US moved proactively, degrading Houthi forces, now redesignated as terrorists, by prioritizing striking first to neutralize missiles before they were launched. US Navy guided-missile destroyer USS Carney defeats a combination of Houthi missiles and drones in the Red Sea on October 19, 2023. The US, which had already been intercepting threats, took steps in mid-December to restore navigation in the area through coalition action, but Houthi attacks continued.

Persons: they're, Biden, —, Joe Biden, Ansar Allah, ” Biden, ”, Yashar Ali 🐘, ince, aron L, egan, arn Organizations: US Navy, Service, US, Houthis Locations: Yemen, United States, essels

☆ Insurers shun many ships carrying goods through the Red Sea as attacks continue
▼ + stars: | 2024-01-17 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

The crisis in the Red Sea threatens to damage the economy by increasing prices on consumers and delaying the shipment of goods. A Houthi official vowed on Wednesday that attacks on “Israeli-linked” vessels in the Red Sea as well as the Arabian Sea will continue. Ikea also does not foresee any product shortages from the Red Sea problems. “Shippers are now much better at using alternative ways of moving their goods around the world,” Zandi said. “We have not seen the situation in the Red Sea translate into material movements in prices in the US such as consumer goods and gasoline prices,” Schwartz said.

Persons: ”, Marcus Baker, Marsh McLennan, Baker, Vicent Clerc, ” Clerc, CNN’s Richard Quest, Mark Zandi, Zandi, Kristalina Georgieva, Quest, ” Zandi, Stephen Schwartz, ” Schwartz Organizations: CNN, US, US Central Command, Maersk, International Monetary Fund, Oxford University . Shipping, P, Moody’s, Global, IMF, Economic, Wednesday, Ikea, Wells, Wells Fargo Global Receivables, Trade Finance Locations: Israel, Marsh, Suez, Africa, China, Davos, Switzerland, “, Asia, Europe, Germany, Wells Fargo, Iran

☆ Oil prices fall as stronger dollar offsets Red Sea disruptions risks
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell on Wednesday as a stronger U.S. dollar limited demand for greenback-denominated crude, though the rising risks of supply disruptions amid the intensifying conflict in the Red Sea curbed the losses. U.S. West Texas Intermediate crude futures , or WTI, fell 43 cents, or 0.59%, to $71.97 a barrel. The stronger dollar reduces demand for dollar-denominated oil for buyers paying in other currencies. British oil major Shell suspended shipments through the Red Sea after the U.S. and UK strikes began, but U.S. producer Chevron is maintaining its Red Sea routes. "While oil benchmarks may not reflect the Red Sea attacks, the realized price for oil and oil products for consumers has increased given the disruption to trade flows through the Red Sea and Suez Canal," Vivek Dhar, director of mining and energy commodities strategist at the Commonwealth Bank of Australia, said in a note.

Persons: Brent, WTI, Daniel Hynes, Vivek Dhar Organizations: greenback, Global, Brent, . West Texas, U.S, U.S . Federal Reserve, ANZ Bank, Shell, Chevron, Commonwealth Bank of Australia Locations: U.S, Iran, Yemen, Red, Suez

☆ Israel-Hamas War U.S. to Return Yemen’s Houthi Militia to Terrorism List
▼ + stars: | 2024-01-17 | by ( Michael Crowley | ) www.nytimes.com time to read: +6 min

But even the lesser label of specially designated global terrorist group could jeopardize U.S. and Saudi efforts to construct a lasting peace deal to end the conflict. The conflict created a humanitarian catastrophe that Mr. Biden, as a candidate in 2020, vowed to address. Following a debate within the Trump administration, Secretary of State Mike Pompeo designated the Houthis as a foreign terrorist organization and a specially designated global terrorist group in mid-January 2021. In February 2021, less than three weeks after Mr. Biden took office, Secretary of State Antony J. Blinken reversed Mr. Pompeo’s designations. Asked by a reporter last week whether he considered the Houthis a terrorist group, Mr. Biden did not equivocate.

Persons: Biden, Yemen’s, Trump, Jake Sullivan, Tim Lenderking, Mike Pompeo, Antony J, Blinken, Tom Cotton, Mr, ” Mr, Cotton, Ayatollah Ali Khamenei, “, ” Organizations: U.S, State Department, Economic, Sana’a Center, Strategic Studies, United Arab Emirates, United Arab, U.S . Agency for International Development, United Nations, Associated Press, Republican, United Locations: Houthi, Yemen, Iran, U.S, United States, Saudi, Gaza, Israel, Davos, Switzerland, Al Qaeda, Saudi Arabia, United Arab Emirates, Arkansas, United Arab

☆ War and climate change are the main obstacles to aggressive Fed rate cuts in 2024, strategists say
▼ + stars: | 2024-01-14 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

War and climate change are the main risks that could threaten aggressive Fed rate cuts, Macquarie said. That's because conflicts in the Middle East and a parched Panama Canal risk creating supply shocks that stoke inflation. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "War and climate change are becoming the main risk to the view that the Fed cuts aggressively," analysts led by Thierry Wizman wrote in a note on Friday. Such turmoil can end up pinching consumers because the Red Sea is a major shipping artery — the Suez Canal, which connects the Red Sea to the Mediterranean Sea, carries about 12% of global trade.

Persons: Macquarie, Thierry Wizman, Wizman Organizations: Service, Federal Reserve, Fed, Drewry, . Shipping, Maersk, CMA CGA, UK, International Monetary Fund Locations: Panama, Red, Africa, Yemen, Suez

☆ The Houthi rebels' leader threatened earlier that a US strike would only make the group launch fiercer attacks in the Red Sea
▼ + stars: | 2024-01-12 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A military strategist recently told Business Insider's Erin Snodgrass that more strikes will likely be needed to curb its Red Sea attacks. The rebel organization, which is traditionally supported by Iran, has carried out a wave of attacks against commercial vessels in the Red Sea, claiming to be responding to Israel's bombardment and ground invasion of Gaza. The Houthi militants have pledged to commit a "greater response" in the Red Sea if hit by US strikes. MOHAMMED HUWAIS/AFP via Getty ImagesThe attacks have disrupted international trade as rattled shipping giants reroute vessels away from the Red Sea.

Persons: —, Abdel, Malek, Houthi, It's, Erin Snodgrass, MOHAMMED HUWAIS Organizations: Service, Business, Reuters, American, US, Rights Watch, Getty, Zionist Locations: Yemen, Red, British, Israel, Iran, Gaza, AFP, Sanaa

☆ Tesla to pause German production over Red Sea disruption
▼ + stars: | 2024-01-12 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Tesla plans to pause most production at its only European factory due to supply chain problems caused by attacks in the Red Sea. In recent weeks, Houthi militants, based in Yemen, have ramped up attacks on vessels traveling through the Red Sea, saying they are revenge for Israel’s war against Hamas in Gaza. As a result, six of the world’s 10 biggest shipping companies — namely Maersk, MSC, Hapag-Lloyd, CMA CGM, ZIM and ONE — have been largely or completely avoiding the Red Sea. Volkswagen, Germany’s biggest carmaker, said Friday that its passenger car division did not anticipate “significant” restrictions to production over the situation in the Red Sea, according to Reuters. Economic reverberationsTesla’s decision will amplify fears that a prolonged closure of the Red Sea route — which connects with the vital Suez Canal — will hurt the global economy by snarling supply chains and driving up the prices of goods.

Persons: London CNN — Tesla, Tesla, Joe Biden, Brent, “, ”, Robert Yawger, Matt Egan Organizations: London CNN, CNN, RTL, Maersk, MSC, Lloyd, CMA CGM, Carriers, European Automobile Manufacturers ’ Association, Volvo, Reuters, Volkswagen, Economic, Ikea, Crocs, Container, British, West Texas, Mizuho Securities Locations: Red, Berlin, Europe, Yemen, Gaza, South Africa, Belgium, Suez, British, Drewry, Iran

☆ The US gave the Houthis a final warning. The Iran-backed rebels answered with their biggest-ever missile and drone attack.
▼ + stars: | 2024-01-11 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS Navy guided-missile destroyer USS Carney defeats a combination of Houthi missiles and drones in the Red Sea on October 19, 2023. Advertisement"Ongoing Houthi attacks in the Red Sea are illegal, unacceptable, and profoundly destabilizing," the statement read. Retaliatory strikes against the Houthis would not be unprecedented — the Pentagon did so in 2016 following attacks by the rebels — but they would be escalatory. The Houthis, meanwhile, are not the only Iranian proxy group that has clashed with the US since the outbreak of the Israel-Hamas war.

Persons: —, I'm, Antony Blinken, Carney, MCS2 Aaron Lau, Houthi, Mohammed Hamoud, HMS, Grant Shapps, Barbara Woodward, We've, John Kirby, CENTCOM, Biden Organizations: Service, Business, US, Navy, US Navy, Pentagon, Getty, Biden, US Central Command, British, Royal Navy, United Nations, National Security Locations: Yemen, Iran, Washington, Bahrain, American, Israel, Amran, Anadolu, Red, Suez, Tehran, Iraq, Syria

☆ Global shipping rates set to jump as carriers avoid the Red Sea amid Houthi attacks
▼ + stars: | 2024-01-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products. British clothing retailer Next recently warned of stock delays as a result of the longer ocean transit. "This creates strong motivations for ocean carrier(s) to increase rate(s) by establishing General Rate Increases (GRIs), Peak Season Surcharge (PSSs), and other contingency or emergency surcharges," the company said. "HLS warned Transpacific freight rates could spike to highs not seen since early 2022, with the Suez Canal route suspended, and the Panama Canal route restricted." Kuehne + Nagel analysts told CNBC that 419 vessels are currently being rerouted due to the Red Sea situation.

Persons: Jon Gold, HLS, Good Hope, Kuehne, Nagel, Franziska Bietke, Mark Rhodes, Rhodes Organizations: Lane Shipping, Ikea, National Retail Federation, CNBC, MSC, U.S ., East, U.S . Shipping Act, Federal Maritime Commission, Kuehne, Logistics, Crane Worldwide Logistics, CNBC PRO Locations: Suez, Ismailia, Egypt, Iran, Red, Africa, Asia, British, West Coast, Panama, U.S . West Coast, East Coast, Gulf of Mexico, South Africa's, Good, Project44, Europe

☆ How the Red Sea crisis could clobber the global economy
▼ + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.

Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, ”, ” It’s, Abercrombie &, Nathan Howard, “, ” Philip Damas, —, Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, ”, China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey

A picture taken during an organised tour by Yemen's Houthi rebels on November 22, 2023 showing the Galaxy Leader cargo ship approaching the port in the Red Sea off Yemen's province of Hodeida. Oil prices fell Tuesday as traders monitored rising tensions in the Red Sea amid a backdrop of record U.S. crude production and worries about demand in China. Crude prices had jumped more than 2% earlier in the trading session on escalating tensions in the Red Sea, a crucial global trade chokepoint. And Iran on Monday deployed a destroyer to the Red Sea, according to the country's Tansim news agency. The move by Tehran comes after U.S. Navy helicopters destroyed three boats of Iran-backed Houthi rebels.

Persons: Yemen's Houthi, Brent, Helima Croft, Croft, Adi Imsirovic, Ayatollah Ali Khamenei, Neil Beveridge, Lloyd Organizations: Galaxy Leader, The West Texas Intermediate, RBC Capital Markets, CNBC, Center for Strategic, International Studies, Monday, U.S . Navy, Navy, U.S . Central Command, Energy, Prosperity Locations: Red, Yemen's, Hodeida, China, The, Iran, Tehran, Singapore, Hangzhou, Brent, Israel, Gaza, Suez, Africa, The U.S

☆ Ukraine predicted where Russia would reroute trains after it blasted the railroad connecting Russia and China, and then attacked again, report says
▼ + stars: | 2023-12-02 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

Ukraine's security service attacked a major railroad connecting Russia and China, reports say. A Ukrainian official told the BBC they had preempted the diversion, and Russians fell into the "trap." AdvertisementUkraine's security service attacked a railway line deep inside Russia in an act of sabotage and then attacked again when the trains were diverted. Speaking about the act of sabotage, a Ukrainian official told Politico: "This is the only serious railway connection between the Russian Federation and China. Aviation fuel on the second train spilled over 150 square meters, or over 1600 square feet, Politico reported.

Persons: —, Ukraine's, Baza Organizations: BBC, Service, Security, Russian Telegram, Russian Railway, Politico, Russian Federation and, Aviation Locations: Russia, China, Russia's, Ukraine, Russian Federation and China

☆ Polish truckers start round-the-clock blockade of fourth Ukrainian border crossing
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +3 min

[1/2] FILE PHOTO:Ukrainian trucks are parked near the Poland-Ukraine border, near the village of Korczowa, Poland November 19, 2023. Polish truckers have already been blocking access to three other border crossings since Nov. 6, demanding that the European Union reintroduce a permit system for Ukrainian truckers entering the bloc and for EU truckers entering Ukraine, with exemptions for humanitarian aid and military supplies. The current waiting time for trucks to cross at Medyka, one of eight road border crossings with Ukraine, is 127 hours according to data from the Polish border guard. In Medyka truckers are joining a protest organised by farmers who are demanding that government support to help them deal with low grain prices be continued. Two trucks per hour are being let through at Medyka, the protesters say, with exemptions for humanitarian aid and war supplies.

Persons: Yan, Tomasz Borkowski, Karol Badohal, Alan Charlish, Susan Fenton Organizations: REUTERS, Rights, European Union, Transport Employers, Ukraine's Infrastructure Ministry, Thomson Locations: Poland, Ukraine, Korczowa, Polish, European, Russia, Russian, Medyka

☆ Polish Truckers Start Round-The-Clock Blockade of Fourth Ukrainian Border Crossing
▼ + stars: | 2023-11-27 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

WARSAW (Reuters) - Polish truckers and farmers started a round-the-clock blockade of access on Monday to Medyka, one of the busiest border crossings with Ukraine, extending a protest that has left thousand of lorries stranded for days in queues that stretch for miles. Polish truckers have already been blocking access to three other border crossings since Nov. 6, demanding that the European Union reintroduce a permit system for Ukrainian truckers entering the bloc and for EU truckers entering Ukraine, with exemptions for humanitarian aid and military supplies. The current waiting time for trucks to cross at Medyka, one of eight road border crossings with Ukraine, is 127 hours according to data from the Polish border guard. In Medyka truckers are joining a protest organised by farmers who are demanding that government support to help them deal with low grain prices be continued. Two trucks per hour are being let through at Medyka, the protesters say, with exemptions for humanitarian aid and war supplies.

Persons: Tomasz Borkowski, Karol Badohal, Alan Charlish, Susan Fenton Organizations: European Union, Transport Employers, Ukraine's Infrastructure Ministry Locations: WARSAW, Ukraine, Polish, European, Russia, Russian, Poland, Medyka

☆ Colombia's Petro says he proposed U.S. pay bonuses to Venezuelan migrants
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +2 min

Colombia's President Gustavo Petro speaks during a meeting with Venezuela's President Nicolas Maduro at the Miraflores Palace in Caracas, Venezuela November 18, 2023. Petro did not provide details about the bonuses nor did he say when he made the proposal. "I believe that this exodus ... should reroute toward their country of origin because, for the most part, they are Venezuelans," Petro added, emphasizing that migrants could choose to return to Venezuela or stay in Colombia. The Maduro government claims that around two million people have left Venezuela, and the Venezuelan president made no further reference to Petro's proposal. On other topics, Petro said it was "very likely" Colombia's majority state-owned oil firm Ecopetrol will partner with Venezuelan state-run oil company PDVSA in the exploration of gas and oil.

Persons: Gustavo Petro, Nicolas Maduro, Leonardo Fernandez Viloria, Petro, Vivian Sequera, Cynthia Osterman Organizations: REUTERS, Rights, Venezuelan, OPEC, Thomson Locations: Miraflores, Caracas, Venezuela, Rights CARACAS, United States, Colombia, Venezuelan

ICBC Financial Services could not be reached for comment. It said it had cleared Treasury trades executed on Wednesday and repo financing trades done on Thursday. While market participants and officials have said the impact of the ICBC hack on Treasury market functioning was limited, the full extent of it is not yet understood. The hack is likely to become a key topic of conversation at a major Treasury market conference on Nov. 16. ICBC told market participants Friday that they were also hoping to have a secondary email system set up soon.

Persons: Kim Kyung, BNY Mellon, ICBC, Moxfive, Darrell Duffie, Duffie, BNY, SIFMA, Paritosh, Edward Tobin Organizations: Industrial, Commercial Bank of China, REUTERS, Commercial Bank of China's, Treasury, ICBC Financial Services, Reuters, ICBC, Securities, Exchange, Stanford, ICBC Financial, Treasuries, Thomson Locations: Beijing, China, Commercial Bank of China's U.S, New York, Wall

☆ In the Market: Inside Wall Street's scramble after ICBC hack
▼ + stars: | 2023-11-13 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com time to read: +7 min

It said it had cleared Treasury trades executed on Wednesday and repo financing trades done on Thursday. While market participants and officials have said the impact of the ICBC hack on Treasury market functioning was limited, the full extent of it is not yet understood. Nevertheless, market participants said the attack is likely to add a new aspect to the regulatory review, as it brings cyber threats into sharper focus. The hack is likely to become a key topic of conversation at a major Treasury market conference on Nov. 16. ICBC told market participants Friday that they were also hoping to have a secondary email system set up soon.

☆ The three-year cruise has been delayed because it doesn't have a ship
▼ + stars: | 2023-10-20 | by ( Julia Buckley | ) edition.cnn.com time to read: +3 min

Get the latest news in aviation, food and drink, where to stay and other travel developments. CNN —Due to set sail from Istanbul on November 1, the three-year cruise was meant to be a smooth sail across the globe and into nomadic living for its inhabitants. But with less than two weeks to go before the scheduled departure date, Life at Sea cruises is navigating choppy waters – as it still doesn’t have a ship. Two weeks ago, when asked whether the sale – which had been slated for late September – had gone through, it gave the same response. Meanwhile, some passengers are becoming increasingly concerned about the delays – and what they see as a lack of transparency from Life at Sea cruises.

Persons: –, ” Kendra Holmes, ”, “ Organizations: CNN, Miray Cruises, Amsterdam Passengers, Cruises Locations: Istanbul, Amsterdam –, “, Amsterdam, Freeport, Bahamas

☆ Longer Commutes, Shorter Lives
▼ + stars: | 2023-10-19 | by ( David Leonhardt | More About David Leonhardt | ) www.nytimes.com time to read: +1 min

The scheduled flight time between Los Angeles and New York, for example, has become about 30 minutes longer. Nearly every other part of the trip also lasts longer than it would have a few decades ago, thanks to traffic on the roads and airport security. All told, a cross-country trip could take a few more hours today than it would have in the 1970s. In 1969, Metroliner trains made two-and-a-half-hour, nonstop trips between Washington and New York. Today, there are no nonstop trains on that route, and the fastest trip, on Acela trains, takes about 20 minutes longer than the Metroliner once did.

Persons: Shorter Organizations: Aviation, Auto Locations: U.S, Los Angeles and New York, Washington and New York

☆ Cloudline: The blimp is back – and this time it’s tiny
▼ + stars: | 2023-10-13 | by ( Tom Page | ) edition.cnn.com time to read: +7 min

CNN —You’d be forgiven for thinking the resurgence of airships and blimps was a load of hot air. South African startup Cloudline has received millions of dollars in investment for its mini blimps. Cloudline first received venture capital backing in 2019, and after years of research and development and prototyping, the company is preparing to launch commercial operations. “The ability of companies like Cloudline to expand is highly subject to the complexity of regulations experienced across the continent,” Chokossa adds. However it looks to fill its airships, Cloudline is hoping it can break through in this revived transport sector.

Persons: CNN — You’d, Cloudline, Spencer Horne, ”, Horne, Christele Chokossa, “, Chokossa, ” Horne Organizations: CNN, Helicopters, Harvard University, Gross, Euromonitor International, Cote d’Ivoire, Democratic, UNICEF Locations: firma, South Africa, Namibia, Mozambique, Kenya, East Africa, Africa, Cameroon, Cote, Democratic Republic of Congo

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