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☆ What investors are watching Wednesday: Earnings plays and a catch-up trade in transports
▼ + stars: | 2024-10-09 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +4 min

(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. Worldwide Exchange Word of the Day: Earnings Stephanie Link of Hightower believes Q3 earnings will be better than LSEG estimates of a 5% increase year over year; seeing potential for an 8-10% increase. "This gives it some room to outperform in the final quarter," Baruch said on Worldwide Exchange. (This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers.

Persons: Stephanie Link, Hightower, Bill Baruch, Baruch, Wells Fargo Organizations: PRO, Worldwide, Federal Reserve, Atlanta Fed, Blue, Wolfe Research, Dow Transports, Dow Jones Transportation, Citi, Logistics

☆ Russian climbers die on Nepal’s Dhaulagiri peak, hiking company says
▼ + stars: | 2024-10-08 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

KATHMANDU, Nepal — Five Russian climbers who have been missing on Nepal's Mount Dhaulagiri since the weekend were found dead on the world’s seventh tallest mountain, their hiking company said on Tuesday. There had been no contact with the climbers, scaling the 8,167-meter (26,795-feet) peak without Sherpa guides, since Sunday night, when they reached a height of 7,700 meters (25,262 feet). "They might have been tied to the same rope," said Pemba, who goes by his first name. "One of them could have slipped on the slope and all five fell together." Mountain climbing in a key tourism activity in Nepal, home to eight of the world's 14 highest mountains, providing crucial employment and income.

Organizations: Sherpa, Russian Locations: KATHMANDU, Nepal, Dhaulagiri, Pemba, Kathmandu

Vice President Kamala Harris for weeks was criticized for avoiding tough questions that came with long-form traditional media interviews. In an interview with CBS News’ “60 Minutes” that aired Monday evening, she faced many of them all at once. “Was it a mistake to loosen the immigration policies as much as you did?” “60 Minutes” correspondent Bill Whitaker asked. Whitaker, who noted that the border security issue had been ongoing for decades, tried twice more to pin Harris down. It was just one of the searing questions that Whitaker formulated as he peppered Harris and, for a shorter time, Minnesota Gov.

Persons: Kamala Harris, Biden, Bill Whitaker, “, ” Harris, Whitaker, Harris, Joe Biden, Donald Trump, ”, Tim Walz, Walz, Trump, “ I’m, Oprah Winfrey, they're, “ You’re Organizations: CBS, ’, Congress, Minnesota Gov, Trump, Republicans, NATO, “, Glock Locations: Minnesota, Maricopa County , Arizona, Ukraine, United States

Washington CNN —President Joe Biden will no longer travel abroad this week as a major hurricane speeds toward Florida. The statement comes ahead of Biden’s expected remarks this morning on Hurricane Milton’s anticipated impact and ongoing recovery efforts for Helene. There have not yet been any discussions in earnest about when the postponed trip would be rescheduled, another White House official said. The White House had appeared aware of the optics of the president potentially being abroad after a catastrophic storm. “He’s gotten updates about the hurricane and (is) obviously continuing to get updates on what is happening on the ground as after the horrible hurricane, Hurricane Helene, and so that will continue.”There is little time remaining in his presidency to reschedule.

Persons: Joe Biden, “, Hurricane Milton, Biden, Hurricane Helene, Karine Jean, Pierre, Biden’s, Helene, Helene –, Trump, Hurricane Dorian, Berlin –, –, Olaf Scholz, Emmanuel Macron, Keir Starmer, Donald Trump ., Kamala Harris, Milton, ” Jean, ”, “ He’s, That’s, Pierre said Organizations: Washington CNN, Republicans, Biden, White, Ukraine, British, NATO, Ukraine Defense Contract, White House, reschedule Locations: Florida, Germany, Angola, Hurricane, Poland, Berlin, Saharan Africa, France, United Kingdom, Ukraine

☆ Amazon's ex-retail boss Dave Clark launches new startup to solve supply chain 'Franken-software'
▼ + stars: | 2024-10-08 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Dave Clark, Amazon 's former CEO of global consumer, who briefly helmed logistics company Flexport, is returning to the startup world. Prior to Flexport, Clark developed a storied reputation during his 23 years at Amazon as the architect of its mammoth logistics network. In 2020, Amazon tapped Clark to head its core retail business after longtime executive Jeff Wilke left the company. Clark joined Flexport to bring what he had built at Amazon to "small businesses and other businesses around the world." He left the startup feeling there was still a gap in the market for supply chain tools, and began to develop the idea behind Auger.

Persons: Dave Clark, Clark, Franken, Ryan Petersen, Petersen, Clark overspent, Flexport, Jeff Wilke, Auger Organizations: Excel, CNBC, Amazon, Amazon's, Flexport

Ukraine has asked for both systems repeatedly, another source familiar with their requests said. Cavoli’s list does not address why the US hasn’t provided systems that he assesses would be of value. Nearly three years into the war, the Ukrainians are still pleading with the US to provide more advanced weaponry and lift restrictions on how long-range missile systems provided by the US can be used. Biden, who has to date prohibited the Ukrainians from deploying the missile systems for deep strikes into Russia, was not entirely dismissive of the request, the sources said. Officials also argue that that the US’ limited supply of long-range ATACMS systems are better used against targets in Crimea.

Persons: Biden, Chris Cavoli, Volodymyr Zelensky, Joe Biden, Zelensky, “ Trump, Donald Trump, Vladimir Putin, Putin “, Bill Burns Organizations: CNN, NATO, Biden, Joint, US, White House, Ukraine Defense Contact Group, Pentagon, Kremlin, CIA Locations: Europe, Ukraine, Russia, Ukrainian, Zelensky’s, Germany, Crimea, Sea Island , Georgia

☆ LeBron James, son Bronny play together for the first time in a preseason game
▼ + stars: | 2024-10-07 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

PALM DESERT, Calif. — LeBron James and his son, Bronny, made NBA history Sunday night when they played together for the first time during the Los Angeles Lakers’ preseason game against Phoenix. LeBron and Bronny are the first father and son to play in any NBA game at the same time, let alone on the same team. Bronny James entered the game as a substitute to begin the second quarter, joining his father on the court out of the timeout. LeBron James is beginning his record-tying 22nd season in the NBA, while LeBron James Jr. — known to all as Bronny — was the Lakers’ second-round draft pick this summer. LeBron sat out of the Lakers’ preseason opener against Minnesota last Friday night, resting up after a full week of training camp following a busy summer.

Persons: LeBron James, Bronny, James family’s, Bronny James, LeBron James Jr, —, LeBron, JJ Redick, Savannah, Bryce, Zhuri, Anthony Davis, Redick, they’ve, they’ll, Ken Griffey, Gordie Howe, Marty, Mark Organizations: Los Angeles Lakers ’, Phoenix, NBA, Acrisure, Lakers, University of Southern, South Bay Lakers, G, Minnesota, Timberwolves, Cleveland Cavaliers, U.S, Paris Olympics, Suns, North, Seattle Mariners, MLB, WHA’s Houston Aeros, NHL’s Hartford Whalers Locations: Calif, University of Southern California, Los Angeles, Savannah Brinson, North American

☆ The Russian arms dealer who was exchanged for Brittney Griner is trying to sell weapons to the Houthis: report
▼ + stars: | 2024-10-07 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +4 min

Viktor Bout is brokering weapons sales to Iran-backed Houthis in Yemen, per The Wall Street Journal. Houthi rebels have been attacking commercial shipping in the Red Sea since last year. AdvertisementThe notorious Russian arms dealer, who was exchanged for US basketball star Brittney Griner two years ago, is trying to sell weapons to the Iran-backed Houthis in Yemen, according to The Wall Street Journal. According to an April Defense Intelligence Agency report, container shipping through the Red Sea has declined massively, alternative shipping routes are increasing voyage costs, and insurance premiums for Red Sea transits have spiked. While the weapons deal reportedly orchestrated by Viktor Bout does not involve anti-ship missiles, it would still represent a notable Russian intervention in the ongoing Red Sea crisis.

Persons: Viktor Bout, Brittney, Houthi, —, Griner, Louise Nevill, Marsh, Antony Blinken, Blinken Organizations: Street, Service, US, Wall Street, Kremlin ultranationalist, Kremlin, Business, April Defense Intelligence Agency, Reuters, Ukraine Locations: Iran, Yemen, Red, Europe, East, Africa, Russia, Moscow, Israel, Gaza

☆ The problem — and opportunity — with Wall Street downgrades of Apple and Amazon
▼ + stars: | 2024-10-07 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

A couple of analyst downgrades are making the rounds Monday on megacap stocks that rarely see ratings cuts: Apple and Amazon. At Jefferies, analysts downgraded Apple to a hold but increased the price target to $213 apiece from $205. It also presents a problem for investors who see the downgrades as a reason to sell some shares. After all, you'll be hard-pressed to find companies anywhere more in charge of their own destinies than Apple, Amazon — or any of the Super Six (Meta, Nvidia, Alphabet, Microsoft). Apple and Amazon aren't where they are because of luck, but rather because they make their own luck.

Persons: downgrades, They're, Jim Cramer, I'm, Jim, you've, it's, Philip Fisher, Apple, Jim Cramer's, Michael M Organizations: Jefferies, Apple, CNBC, Apple Intelligence, Wells, Nvidia, Microsoft, Amazon, Jim Cramer's Charitable, Fifth, Santiago, Getty Locations: Wells, New York City

☆ German carmakers wary of 'adverse' reaction after EV tariffs: analyst
▼ + stars: | 2024-10-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGerman carmakers are wary of 'adverse' reaction after Europe's EV tariffs, ING analyst saysRico Luman, senior economist on transport and logistics at ING, says there might be more production of electric vehicles in Europe by Chinese brands, as the case for local manufacturing is boosted by tariffs.

Persons: Rico Luman Organizations: ING Locations: Europe

☆ 'Next dragon': Fund manager names an under-the-radar, 'very cheap' market to play right now
▼ + stars: | 2024-10-07 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Emerging markets on the MSCI list include Brazil, China, Greece, India, Indonesia, South Korea, Malaysia, Mexico, the Philippines, Qatar and Thailand. One fund manager, however, is looking outside that list, at an "up and coming emerging market and the next dragon in Asia" — Vietnam. "It's in a sweet spot in terms of economic growth, urbanization, labor market participation and having the right government policy. In spite of its strong growth, Vietnam is still not part of the MSCI Emerging Markets Index. A 'big theme' Mafli is betting on "high growth sectors" and stocks "doing well in underperforming sectors."

Persons: Li Mafli, Eric Sturdza, Mafli —, Mafli Organizations: Eric Sturdza Investments, Vietnam Prosperity, CNBC Pro, General Statistics Office, International Monetary Fund, FTSE, Index, Mobile World Investment, Infrastructure Locations: Brazil, China, Greece, India, Indonesia, South Korea, Malaysia, Mexico, Philippines, Qatar, Thailand, Asia, Vietnam

☆ Intra-Africa trade could double in next five years, says Secretary General of African Continental Free Trade Area
▼ + stars: | 2024-10-07 | by ( Nell Lewis | ) edition.cnn.com time to read: +8 min

CNN —Africa is home to the world’s largest free trade agreement, in terms of number of countries, territory, and population – the African Continental Free Trade Area (AfCFTA). According to the Economic Commision for Africa, African countries continue to trade with the rest of the world more than among themselves. Aliko Dangote has been talking about the fact that he needs 35 visas to travel across the African continent. WM: It’s a significant barrier and constraint to intra-Africa trade and intra-Africa investment. I think we can double intra-Africa trade in the next five years, provided we introduce the tools that are required.

Persons: CNN’s Eleni Giokos, Wamkele Mene, Eleni Giokos, Wamkele, it’s, Mene, Aliko Dangote, It’s, I’ve, it’ll Organizations: CNN, Continental Free Trade Area, Union, EG, Continental Free Trade, CNN EG, African Continental Free Trade Area, European Union, Africa can’t, Democratic Locations: Africa, Kigali, Rwanda, Angola, Zambia, Democratic Republic of Congo, Central Africa, Eastern Africa, Northern Africa, –

☆ One of Walmart's big bets is paying off in its retail battle against Amazon, analysts say
▼ + stars: | 2024-10-07 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Walmart's logistics business is pressuring Amazon's own, according to Wells Fargo analysts. But Amazon "is no longer the only scaled marketplace in North America," Wells Fargo analysts led by Ken Gawrelski wrote in a research note on Monday. They pointed to Walmart's announcement in August, for instance, that third-party sellers would be able to use Walmart's fulfillment network for orders placed outside of Walmart's website. The analysts cited the pressure from Walmart's fulfillment business as just one of the challenges facing Amazon's income. Amazon's stock slid more than 3% on Monday to about $180.50 after the Wells Fargo analysts published their note.

Persons: Amazon's, Wells, Wells Fargo, —, Ken Gawrelski, Gawrelski Organizations: Walmart, Service, Amazon, Wells, Amazon Web Services Locations: North America, Walmart's

☆ America's trade war is coming for Gen Z's favorites
▼ + stars: | 2024-10-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +10 min

Many Gen Zers purchase cheap goods from the Chinese e-commerce companies Shein and Temu. The Biden administration is taking steps to make more Chinese imports subject to import fees. AdvertisementTwo of Gen Z's favorite shopping platforms for cheap goods could get more expensive in the near future. The trade provision, called "de minimis," allows US consumers to avoid paying these import fees on direct-to-consumer shipments of less than $800. However, import fees could vary by product.

Persons: Biden, —, Gen, Chad Schofield, wouldn't, it's, — Schofield, Kaziukėnas, Joe Biden's, Xers, Temu, Schofield, Donald Trump, Kamala Harris, Shein, he'd, Temu It's, they'd Organizations: Service Locations: Shein, China, Canada, Mexico

☆ Three years ago, this Florida high school started a skilled trades program — now there's a waiting list to get in
▼ + stars: | 2024-10-05 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Angela Ramirez-Riojas, 18, is enrolled in Riverview High School's construction academy. Courtesy: Riverview High SchoolFor Angela Ramirez-Riojas, 18, going to college was always plan B. Ramirez-Riojas, who is a senior at Riverview High School in Riverview, Florida, enrolled in her school's recently opened vocational program in construction. "Construction trades is not just the physical part, there's other parts of it that encompass the whole industry," Lahdenpera said. In fact, new construction hires earn more than new hires in the professional services, according to payroll-services provider ADP.

Persons: Angela Ramirez, Ramirez, Riojas, I've, isn't, Erin Haughey, Riverview's, Haughey, Jeff Lahdenpera, It's, Lahdenpera, Katie Alderman, Ted Jenkin, Gen, There's Organizations: Riverview, Riverview High School, Finance, Teens, Neal Communities, Associated Builders and Contractors, Junior Achievement, Citizens Bank Locations: Riverview, Riverview , Florida, Lakewood Ranch , Florida, Atlanta

☆ The port strike is over. Here’s what happens next
▼ + stars: | 2024-10-04 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

Then union members will get additional $4-per-hour raises every year during the life of the six-year tentative deal. The union had been willing to consider the $4-an-hour deal before the strike, union boss Harold Daggett said on the picket line outside the Port of New York and New Jersey early Tuesday, soon after the start of the strike. Thursday’s deal likely is the end of the strike, but it doesn’t close the door on a new strike in the future. Should the members vote against the deal, the strike might start once again. But union members voted nearly unanimously to reject it and have remained on strike since September 13.

Persons: Harold Daggett, Bryan R, Smith, Helene, Bethann Rooney, ”, Rooney Organizations: New, New York CNN, United, International Longshoremen’s Association, United States Maritime Alliance, Getty, Port Authority of New, Hurricane Sandy, International Association of Machinists, Boeing Locations: New York, United States, East, Gulf Coast, Port of New York, New Jersey, Maine, Texas, Virginia, Port Newark, AFP, Port Authority of New York, Port, NY, NJ, Hurricane

☆ Maersk slumps 7% as the end of U.S. port strikes weighs on European shipping stocks
▼ + stars: | 2024-10-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An aerial view of the Dundalk Marine Terminal October 03, 2024 in Baltimore, Maryland. Shares of Moller-Maersk slumped more than 8% on the Friday market open as European shipping companies fell on the conclusion of a U.S. port strike. A prolonged strike would have provided a boost for European shippers to take a larger share of global supply chain demands. Maersk shares pared losses slightly to trade down 7.05% by 9:05 a.m. London time. Thursday's deal ended a strike that had choked U.S. East Coast and Gulf Coast ports since the start of the week and threatened U.S. supply of fruits, pharmaceuticals and automobiles, among other goods.

Persons: Germany's Hapag Lloyd, Nagel Organizations: Dundalk Marine, Moller, Maersk, U.S, dockworkers, United States Maritime Alliance, International Longshoremen's Association Locations: Dundalk, Baltimore , Maryland, U.S, London, Swiss, East Coast, Gulf Coast

☆ Israel may not be able to take down Iran's nuclear sites on its own
▼ + stars: | 2024-10-04 | by ( Mikhaila Friel | Tom Porter | ) www.businessinsider.com time to read: +6 min

One option would be to take out Iran's nuclear sites — something Biden opposes. A hit on Iran's nuclear facilities could, however, create far graver consequences, potentially including a race by Iran to build a nuclear weapon. AdvertisementUS President Joe Biden would not support Israel's Prime Minister Benjamin Netanyahu in targeting nuclear sites. As The Financial Times noted, there are more than a thousand miles between Israel and Iran's main nuclear bases. And Iran's nuclear sites present a formidable target, sprawling across various sites, with several of the most sensitive located in heavily fortified underground bunkers.

Persons: Biden, —, Sabet, Joe Biden, Wisam, Benjamin Netanyahu, Jim Watson, Matthew Savill, Robert Dover, Issam, Filipo, Savill Organizations: Service, Geneva Graduate Institute, New York Times, Getty Images Israel, Brent, Reuters, Getty, Financial Times, US Congressional Research Service, Atomic Scientists, Royal United Services Institute, Hull University, EU, UN, University of Bristol Locations: Israel, Iran, It's, Lebanon, Anadolu, Fordow, London, Dover

☆ A lasting U.S. ports strike deal is far from done, with automation a big hurdle in ILA/USMX negotiations
▼ + stars: | 2024-10-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Dockworkers strike in a picket line outside of the Port of Houston Authority on October 01, 2024 in Houston, Texas. The strike, affecting 36 ports, marked a historic event and was the first by the union since 1977. (Photo by Brandon Bell/Getty Images)The tentative agreement to suspend the International Longshoremen's Association strike may have consumers and businesses breathing a sigh of relief. In a statement Friday, the ILA said it wants to tighten the language related to the use of automation at ports. It is only a tentative agreement and automation at ports will remain a major stumbling block," said Peter Sand, chief shipping analyst at supply chain intelligence firm Xeneta.

Persons: Brandon Bell, Peter Sand, Harold Daggett, Daggett, Dennis Daggett, Harold Daggett's, that's, Sand, Dr, Michael Nacht, Larry Henry Organizations: Port, Houston Authority, International Longshoreman's Association, United States Maritime Alliance, International Longshoremen's Association, ILA, CNBC, Office, GAO, Public, University of California, Defense, ContainerTrac, International, Warehouse Union, Pacific Maritime Association Locations: Houston , Texas, U.S, Berkeley, Long Beach, Los Angeles , California, West Coast

☆ Tesla to recall over 27,000 Cybertruck vehicles over rear-view image delay
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: +1 min

New Tesla Cybertruck vehicles parked at a logistics drop zone in Seattle, Washington, US, on Thursday, Aug. 22, 2024. Tesla said on Thursday it would recall most Cybertrucks in the U.S. due to delayed rear-view camera images that could impair driver visibility and increase crash risks, adding that a software update would resolve the issue. The recall covers more than 27,000 Cybertrucks, Tesla said in a report filed with the U.S. National Highway Traffic Safety Administration. The Cybertruck's system in the affected vehicles may not complete a shutdown process before it is commanded to boot up, resulting in a delay in displaying the rear-view image, Tesla said. Tesla earlier this year recalled most Cybertrucks in the U.S. over issues with their windshield wipers and exterior trim.

Persons: Tesla Organizations: Tesla, U.S . National, Traffic Safety Administration Locations: Seattle , Washington, US, U.S

☆ Amazon could cut 14,000 managers soon and save $3 billion a year, according to Morgan Stanley
▼ + stars: | 2024-10-03 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Morgan Stanley estimates Amazon can cut 13,834 managers and save roughly $3 billion next year. Morgan Stanley assumed that the cost per manager was $200,000 to $350,000 a year. Based on those numbers, Amazon would stand to save $2.1 billion to $3.6 billion next year if it cut those 13,834 manager roles. Morgan Stanley estimated that the savings would account for roughly 3% to 5% of Amazon's projected operating profit for 2025. AdvertisementStill, Morgan Stanley sees a huge opportunity for Amazon to make itself more efficient with these big moves.

Persons: Morgan Stanley, Andy Jassy, —, Jassy, Morgan Organizations: Service, Amazon, Business

☆ A trio of crises threatens to upend the race 5 weeks before Election Day
▼ + stars: | 2024-10-03 | by ( Alice Tecotzky | Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

A trio of emergencies has all struck just five weeks ahead of the 2024 presidential election. Both Donald Trump and Kamala Harris will be forced to reckon with the crises in the final days of their campaigns. AdvertisementViolence in the Middle East, a massive labor strike among East Coast and Gulf Coast dockworkers, and the devastation of Hurricane Helene all struck with only five weeks before the 2024 presidential election. "What we've seen out of Vice President Harris is we've seen steady leadership," he said when talking about the Middle East. What matters most now is how the candidates' messaging lands with specific communities impacted by these crises, Loge said.

Persons: Hurricane Helene, Donald Trump, Kamala Harris, —, Israel, Peter Loge, David Jones, Trump, Joe Biden, Randall Adkins, Adkins, Loge, it's, Sen, JD Vance, Tim Walz, Vance, Harris, Walz, Biden, she's, BRYAN R, SMITH, Jones, Grace Cary, Helene Organizations: Service, East, School of Media, Public Affairs, George Washington University, Baruch College, City University of New, Trump, University of Nebraska, Gov, Logistics, JPMorgan, Getty, Biden Locations: Hurricane, East Coast, Gulf Coast, East, Middle, Iran, Israel, Lebanon, Tehran, City University of New York, University of Nebraska Omaha, American, Arizona, Georgia, Wisconsin, North Carolina, Michigan

☆ China’s Coast Guard claims to have entered the Arctic Ocean for the first time as it ramps up security ties with Russia
▼ + stars: | 2024-10-03 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

The statement came a day after the US Coast Guard said it spotted four vessels from the Russian Border Guard and Chinese Coast Guard in the Bering Sea – the “northernmost” location it said it had ever observed the Chinese ships. A banner visible on one of the vessels in accompanying photos read “China Coast Guard devoting its heart to the Party; demonstrating loyalty in the Arctic Ocean,” referring to China’s ruling Communist Party. The US Coast Guard (USCG) on Monday said it spotted the four vessels from the Russian Border Guard and Chinese Coast Guard “transiting in formation in a northeast direction” in the Bering Sea, some five miles inside Russia’s Exclusive Economic Zone on Saturday. A China Coast Guard member pictured during recent joint drills with Russia. The coast guard collaboration “relates to Chinese interests in maritime transportation along at least parts of the Northern Sea Route,” according to Østhagen.

Persons: Russia –, China’s, ”, Megan Dean, irked, Carl Schuster, it’s, –, Sophie Arts, ” Andreas Østhagen Organizations: Hong Kong CNN, China’s Coast Guard, US Coast Guard, Russian Border Guard, Chinese Coast Guard, China Coast Guard, Communist Party, CCTV, TASS, 17th Coast Guard District, USCG, Canadian, Russia’s Federal Security Service, East China, Coast Guard, Guard, US Navy, Pacific Command’s Joint Intelligence Center, China, US Department of Defense, German Marshall Fund, Fridtjof Nansen Institute, CNN, Armed Police, Central Military Commission, Centre for High North Logistics, Norway’s Nord University Locations: Hong Kong, Russia, Beijing, ”, Bering, Alaska, Asia, North America, China, Washington, South, East, irked Beijing, Ukraine, Russian, Norway, South China, Philippines, Europe

☆ Chaos is building for shippers as U.S. port strike continues and costs rise
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

Brashier said some clients had containers that were once destined for the Port of Savannah diverted to the Port of Norfolk in the last hours before the strike began. More than a dozen container vessels are currently waiting in the port anchorage area of Freeport, Everstream Analytics data shows. MSC, the largest containership company in the world, has diverted two vessels, according to Vizion. A container ship departs the Port of Newark for the Atlantic Ocean on September 30, 2024 seen from New York City. Christian Roeloffs, cofounder and CEO of Container xChange, said the timing of this strike is especially challenging for shippers.

Persons: Eric Adams, Spencer Platt, Biden, Paul Brashier, Brashier, Jose Luis Gonzalez, Mirko Woitzik, Lloyd, Hermann Schulte, Port, Harold Daggett, Daggett, Stew Leonard, Jr, Stew Leonard's, Leonard, Brandon Daniels, Daniels, Christian Roeloffs Organizations: International Longshoremen’s Association, ILA, Getty, International Longshoremen's Association, United States Maritime Alliance, ITS Logistics, CNBC, Trucking, Port, Portsmouth, Reuters, Dresden, Turkey East Coast Express Service, America, Schulte Group, MSC, USMX, Local, Virginia International, Walmart, Depot, Folgers Company, Nike, Container, Analytics Locations: Brooklyn, Brooklyn , New York, Gulf Coast, Savannah, Port of Norfolk, Virginia, Portsmouth , Virginia, U.S, Vizion, East Coast, Port of Norfolk , Virginia, Savannah , Georgia, Egypt, America, Charleston, Port, Freeport, Bahamas, Cristobal, Port of New York, New Jersey, Halifax, Canada, Newark, New York City, New York, Savannah , Norfolk, West Coast, demurrage, China, Israel

☆ Supply chain disruptions could benefit these stocks, Goldman Sachs says
▼ + stars: | 2024-10-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Trade tensions, too, have resulted in tariffs and affected world trade in certain goods. The market for companies in this space is driven by the volume of global trade, and this so-called supply chain "complexity," Goldman noted. It sees some stocks as being able to benefit from higher supply chain "complexity." Freight-forwarding firms such as DSV , DHL Forwarding and Kuehne+Nagel are "well-placed to help their clients navigate higher complexity and shocks," Goldman said. Container lines such as Cosco, Maersk and Hapag-Lloyd are less directly exposed to the higher supply chain complexity, said Goldman.

Persons: Goldman Sachs, Goldman, deglobalization, Nagel, Lloyd, — CNBC's Michael Bloom Organizations: U.S ., Logistics & Shipping, Logistics, DHL, Goldman, Express, Fedex, UPS, Maersk, Hapag Locations: U.S . East Coast, Gulf Coast

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