North America

Financial Times reported that a consortium backed by BlackRock is pushing for the completion of its 'acquisition' of CK - Hutchison’s global ports business? without two terminals located in Panama after the authorities seized these assets. The report cited people who were familiar with the negotiations as saying that the Swiss-Italian Mediterranean Shipping Company and the U.S. listed asset manager are'said to be in discussions with CK Hutchison about?buying 41 ports throughout Europe, Southeast Asia, and the Middle East. Could not immediately verify the report. BlackRock, MSC - and CK Hutchison - did not respond to a request for comment....

Investors bet on the short-term disruption of oil supplies in the Middle East. This optimism, however, may not be justified. The oilfields in the Gulf have escaped damage so far, but the inability to ship fuel out is straining the global energy system. Each day of disruption increases pressure on both?producers?and?consumers?, causing bottlenecks in the Middle East for exporters?and?deepening shortages elsewhere for buyers? The oil prices rose by more than 10% on Monday, reaching the highest level in over a decade. They then fell back to $79. This was a reaction to the extensive U.S.-Israeli airstrikes on Iran that took...

'A United Airlines flight landed on an emergency landing Monday - shortly after departing Los Angeles - due to an engine problem. The Federal Aviation Administration reported that passengers had to disembark on a taxiway. The 'FAA reported that United Airlines Flight 2127, which was bound for Newark Liberty International Airport, returned safely to Los Angeles at around 2:20 p.m. ET. After lifting the ground stop, the FAA said that there would still be arrival delays up to 30 mins. CBS Los Angeles reported that fire crews appeared?to hose off the left engine of the car and a video posted...

Two maritime security sources reported that the U.S. flagged Stena Imperative, a 'products tanker', was struck by two unknown projectiles early on Monday morning in the port of Bahrain, causing an onboard fire, which was put out. Vanguard, a British maritime risk management company, said that the vessel was struck at 0257 GMT. Vanguard said that all crew members were'safe' and had evacuated the vessel. The first U.S. flagged vessel has been damaged since U.S. airstrikes and Israeli strikes began against Iran on?Saturday. This led to heavy retaliatory actions by Tehran, including attacks on Gulf?countries as well as Israel. Stena...

Israeli military reported 'on Monday that the launch of projectiles from Lebanon resulted in sirens sounding in several areas in northern Israel. This was the first time since U.S.-Israeli strikes against Iran, that such a launch had occurred from Lebanese soil. Israel -and Lebanon -agreed to a U.S. mediated ceasefire in 2024. This ended more than a year's worth of fighting between Israel and the Lebanese militant Hezbollah, which culminated with Israeli strikes that weakened the Iran-backed group. The sides have been exchanging accusations about violations since then. Hezbollah has not yet commented on the reported launch in Lebanon. Shi'ite...

Aviation sources said that four people were hurt in an attack on the international airport of Dubai overnight. Dubai's media office stated on X, "a concourse in Dubai International (DXB), sustained minor damages in an incident that was quickly contained," but did not provide any further details. Aviation sources said that one terminal at the airport, which is normally one of world's busiest hubs for aviation, was damaged in an overnight Iranian attack, which authorities publicly called an "incident." Sources also confirmed that Abu?Dhabi Airport International was hit. The sources did not specify whether or not the two airports were...

Greg Abel, the new chief executive of Berkshire Hathaway, has written his first annual shareholder letter on Saturday. He pledged to maintain the "fortress"-like balance sheet, and to uphold the values set by his mentor and predecessor, Warren Buffett. Abel, who is 63 years old, said that he would not rush to use Berkshire's nearly record $373.3 billion in cash, even though he claimed it provided the company with plenty of "dry power" and he did not plan to start paying dividends. Buffett was also against this. Berkshire has not repurchased its own stock since spring 2024. Abel wrote an...

Greg Abel, the new Berkshire Hathaway chief executive, pledged to 'put his stamp on the company with a 'fortress-like balance sheet, while maintaining the values of Warren Buffett, his mentor and predecessor. Abel, who is 63 years old, stated that he will not rush to use Berkshire Hathaway's near record $373.3 billion in cash, even though the stake gives the company a lot of "dry-powder." He also said he has no plans to start paying dividends. Buffett was against this as well. Berkshire also hasn't repurchased any of its own shares since the spring of 2024. Abel wrote: "I understand...

Berkshire Hathaway said on Saturday that operating profits fell in the 'fourth quarter due to lower 'income from its insurance operation, and a long-standing investment in Occidental Petroleum was written down. This quarter marked Warren Buffett’s final as chief executive of the conglomerate. Greg Abel now holds that position. Buffett is still chairman. Berkshire reported that it would end 2025 with $373.3 Billion in cash. This gives Abel the power to make major acquisitions, which Buffett has been unable to do over the past decade. This was the sixth quarter without a share buyback. It was also Berkshire's thirteenth consecutive...

According to a?report seen by, Greece's Shipping Ministry advised Greek-flagged ships on Saturday to exercise maximum caution and avoid the Persian Gulf, the Gulf of Oman, and the Strait of Hormuz after the United States and Israel launched strikes against Iran. The document stated that "the developing situation affects'safety of Navigation in the wider Persian Gulf",?the Straits of Hormuz and?the Gulf of Oman, and?North Arabian Sea",?advising managing companies to implement the highest levels of security in these areas and Israeli port until further notice. The statement added that the crisis could spread to the Red Sea and the Gulf of...

The United States and Israel launched an attack on Iran on Saturday, which could result in the closure of a major oil-export route, the Strait of Hormuz. Here are some details about the Strait. What is the 'STRAIT of HORMUZ'? The strait is located between Iran and?Oman? and connects the Gulf of Oman in the south with the Arabian Sea to the north. The strait is only 21 miles wide (33 km), with a shipping lane that is just 3 km wide in each direction. Why does it matter? Around a fifth (25%) of all oil consumed in the world...

Global Airlines suspended flights across the Middle East Saturday, after Israel and the United States launched strikes against Iran. This plunged the region into another military conflict. Flight maps showed that the airspace over Iran was almost empty after Israel claimed to have struck Iran, and the U.S. military launched a series strikes against Iranian targets. Iran responded with a salvo missiles. The escalated conflict has dimmed the hopes of a diplomatic resolution to the nuclear dispute between Iran and the West. It also reignited the conflict following weeks of U.S. Military buildups in the area. The Middle East is...

Italy's tax authorities announced on Tuesday that they had seized 27,4 million euros ($31.8 million) from two French units of CEVA Logistics. This is a new chapter in investigations into alleged tax fraud, and illegal labor practices. This move, which targets the French multinational known for its partnership in Ferrari's F1 Team, is similar to other actions taken against Italian logistics and delivery companies, such as FedEx, DHL, Amazon, etc. Milan prosecutors accuse CEVA of issuing fake invoices in order to?mask cheap labour, bypassing labour laws and tax laws and avoiding?taxes and social security payments. CEVA Logistics?did not immediately respond?...

After receiving a number of applications for new storage in Asia, which is the largest regional market for aluminium, U.S. commodities trade operator CME Group has approved the?first?storage facilities in Taiwan. CME announced in two separate notices that it had approved applications by warehousing company C. Steinweg, and Pacorini Global Services for the storage of aluminium delivered against Comex aluminium contracts at a port city located south of Taiwan called Kaohsiung. Reports stated that 'this month, the CME approved facilities in Taiwan, and another base metals warehouse location, Hong Kong. This was part of CME's efforts to gain more traction...

The logistics of one of the main export hubs in the world for soybeans are being overwhelmed by a record harvest. Backlogs for soybeans being moved from the world's biggest producer and exporter highlight ongoing logistical challenges in Brazil's agriculture supply chain. A large portion of Brazil's soybean harvest is headed for China. It's a shame here in Miritituba," said trucker Jeferson Borges da Silva who, after driving 1,200km from Mato Grosso waited for a?30 km (20 mile) queue. "We have been waiting in line for 2 days, this was the worst year yet." Miritituba is a crucial transshipment point...

Mexico's government announced on Thursday that it had taken legal action to force Millon, a French auction house, to stop the planned sale this week of 40 precolombian artifacts Mexico considers to be its cultural heritage. Mexico has launched "appropriate legal procedures before?the?relevant?authorities", and reached out via diplomatic channels to repatriate the artifacts, Culture Secretary Claudia Curiel stated in a social media post. She said, "The protection of cultural heritage is the responsibility of the State and an act historical justice." Millon will hold an in-person sale of a precolombian collection entitled "Les Empires of Light" (The Empires of Light),...

Ford Motor Company announced Thursday that it will recall 4.3 million SUVs, pickup trucks and pickups in the U.S. because of a software error which could cause exterior lights and trailer brakes to stop working. The recall includes the F-150 from 2021 to 2026, the F-250 SD from 2022 to 2026, the Lincoln Navigator, Expedition and Maverick, as well as some Ranger, E-Transit, and Lincoln Navigator vehicles. The Integrated Trailer module may not be able to communicate with the vehicle when towing a?trailer. This could lead either to a loss in brake or turn signal 'lights,' or a complete loss...

The demand for its customs brokerage services helped Expeditors international of Washington to report a profit and revenue in the fourth quarter that exceeded Wall Street expectations. Customs clearance costs have increased as businesses adjust to new tariff rules and comply with compliance requirements. This has boosted demand for brokerage companies like Expeditors and driven up the cost of customs clearance. The demand for customs brokers remained high, reflecting the complexity of the work and the volume. CEO Daniel Wall added that the company planned to increase investments in technology including AI-driven tools to improve efficiency. Wall said that in...

The Canadian rail contractor, Cando Rail & Terminals, will purchase the U.S. Cando announced Monday that it would be purchasing the rail assets of Savage Enterprises to expand its presence across the U.S. The financial terms are not disclosed. The deal gives Cando, based in Manitoba, a strong foothold in the United States while continuing to expand its infrastructure and network of rail terminals in the country. A source familiar with the transaction said that it was a deal worth more than $1 billion. The Canadian and American energy companies rely on Cando Rail & Terminals to provide logistics services...

Cando Rail & Terminals, a Canadian railroad contractor, will 'buy U.S. competitor Savage Rail to expand its footprint in the U.S. The deal gives the?Manitoba based Cando an important foothold in the U.S. while it continues to build its rail terminals network and infrastructure across the country. The financial terms are not disclosed. Cando Rail and?Terminals is a logistics company that provides gasoline and diesel to energy companies in Canada as well as the United States. " Customers?on rail are transnational, whether they're in Canada or the U.S. We have a number of'similar' clients on the energy sector, said Brian...

C.H. Global logistics provider C.H. Robinson's CEO Dave Bozeman has dismissed the'recent sale' of shares tied to AI disruptions in the freight industry. He said that the race to adopt AI technology would lead to consolidation. C.H. C.H. Since the 14.5% drop earlier in this month, the?stock is up a little. In the afternoon of Monday's trading, it was down 6.1% to $178.44. The sale was triggered after Algorhythm Holdings, a company that specializes in AI technology, stated that their SemiCab platform helps customers increase 'freight volume by 300% to 400% without adding additional operational staff. Bozeman, in an interview...

Wall Street's love for artificial intelligence giants is cooling, and some investors are shifting their focus to infrastructure companies, which they believe will benefit from AI spending. This shift has spawned a number of new products. Shares of AI tech giants like Alphabet and Amazon have seen sharp drops after huge gains over the past few years. Investors are worried that returns on their "massive investments" in developing smarter AI system won't justify these lofty valuations. Asset managers say that investors should focus on companies receiving the checks, such as chipmakers, data centers, and utility firms, which provide the nuts...

CME Group received an application to list a warehouse of copper?in a Chicago suburb, according to a notice by?the U.S. commodity exchange operator. Kodiak Warehouse LLC applied to take Comex copper futures against CME in Lemont Illinois. According to a notice from?Thursday, the application was dated February 18. CME didn't immediately respond to an inquiry for comment. The CME website lists a number of storage locations, including the Kodiak facility. The total CME warehouse capacity in the United States is 1.1million short tons, and over half of this is in Louisiana. Sources say that even the New Orleans hub, which...

Investors awaited the minutes of the U.S. Federal Reserve's January meeting. As of 10:16 a.m., the S&P/TSX composite index was up 1.07%, at 33,249.83. ET. The tech sector of the TSX rose 2.5% after recent concerns over AI disruption. Investors are also waiting for the Fed's minutes from January, which will be released later in the day, to get clarity on its monetary policy. The metal mining index (which includes broader materials) advanced by 2.3%. After only two hours of peace talks, the Ukrainian president Volodymyr Zelenskiy accused Russia of trying to deliberately delay progress toward an agreement to end...