Port Strike Halts U.S. Shipping, Threatens $5 Billion Daily Hit to ...
WEB5 hours ago · The recent strike by the International Longshoremen's Association (ILA) has disrupted half of the U.S.'s ocean shipping network, stalling goods ranging from food to automobiles and sparking concerns about significant economic ramifications. President Joe Biden's administration has put pressure on port employers to raise their offer to dockworkers, following the collapse of negotiations for a ...
Business Times - Business & Financial News, China & International ...
WEBTesla Reportedly Opts Out of Performance-Based Stock Incentives for Employees Amid Cost-Cutting Measures. Business Times is a digital global news publication that provides comprehensive coverage and analysis of the most important business, economic, financial, political and technological issues from China and around the world.
Tesla's Third-Quarter Delivery Miss Sends Stock Down, Struggles …
WEB3 hours ago · Tesla, the world's leading electric vehicle (EV) manufacturer, reported its third-quarter delivery numbers on Wednesday, falling short of Wall Street's expectations and causing its shares to dip by 3.5% in premarket trading. The EV maker delivered 462,890 vehicles between July and September, marking a 6.4% increase from the previous quarter. However, this fell below analysts' average forecast ...
Fed Chair Powell Signals More Rate Cuts but Warns Against …
WEB1 day ago · Despite some positive signs, Powell's remarks made it clear that the Fed is prepared to act more aggressively if the economic outlook deteriorates. During the Q&A, Powell stated that while the base case for policy is a slower pace of rate cuts, the central bank will respond quickly if necessary. "We will do what it takes in terms of the speed ...
Chinese Stock Rally Triggers $7 Billion Loss for U.S. Short Sellers
WEB6 hours ago · The recent rally in Chinese stocks, driven by Beijing's aggressive stimulus measures, has inflicted significant losses on traders who bet against U.S.-listed Chinese companies. According to a report by S3 Partners, short sellers have faced a staggering $6.9 billion in mark-to-market losses as Chinese equities have surged in recent weeks.
Historic Dockworker Strike Paralyzes U.S. East Coast: 50,000 …
WEB1 day ago · A historic strike by nearly 50,000 members of the International Longshoremen's Association (ILA) began early Tuesday, halting operations at East and Gulf Coast ports and raising alarms about potential shortages and rising prices. The work stoppage, which is the first coast-wide strike in nearly half a century, could significantly disrupt the flow of essential goods and trade throughout the ...
With $1.5 Billion Loan, Michigan’s Palisades Aims for Historic …
WEB1 day ago · The Palisades nuclear plant in Michigan has taken a significant step toward becoming the first nuclear reactor in U.S. history to restart operations after a shutdown. On Monday, the Department of Energy (DOE) announced that Palisades has secured a $1.5 billion federal loan to support the ambitious revival, which is being driven by Holtec International, the plant's owner.
U.S. Imposes 100% Tariffs on Chinese Electric Vehicles Starting …
WEBSep 14, 2024 · The Biden administration on Friday confirmed substantial tariff increases on a range of Chinese imports, including a 100% duty on electric vehicles (EVs), in a strategic move to bolster domestic industries against China's state-supported production surge. The U.S. Trade Representative (USTR) announced that many of these tariffs will take effect on September 27, marking a significant escalation ...
Boeing Offers 25% Pay Hike in Historic Deal to Avoid Strike as …
WEBSep 10, 2024 · The proposed contract falls short of the union's initial demand for a 40% pay increase, but negotiators are nonetheless championing the deal as a significant victory. In addition to the 25% wage hike, the agreement includes $3,000 lump-sum payments for each covered employee, improved health insurance …
Government Shutdown Looms as Congress Faces Partisan …
WEBSep 10, 2024 · The Republican-led House, under the influence of Trump and the party's right-wing members, has proposed a CR that would extend funding through March 28, 2025. This measure is tied to the SAVE Act, a GOP-led bill that seeks to overhaul voting laws nationwide by requiring proof of citizenship …