Picture Alliance | Picture Alliance | Getty Images The CrowdStrike software bug that crashed Microsoft operating systems and caused the largest IT outage in history caused disruptions at U.S. and global ports, with highly complex air freight systems suffering the heaviest hit, according to logistics experts, as global airlines grounded flights. “Planes and cargo are … Read more
CNBC’s Jim Cramer on Thursday said it’s no secret that the market rally has been driven by a handful of tech stocks, and it’s not likely to change anytime soon. Cramer said companies like Nvidia, Apple, Microsoft, Alphabet, Amazon, Oracle and now Broadcom have been integral to the rally. Broadcom shares closed up 12% on … Read more
A Norfolk Southern train is en route on Feb. 14, 2023 in East Palestine, Ohio. Earlier in the month a derailment sent millions of pounds of toxic chemicals into the environment and forced thousands of people to evacuate. Angelo Merendino | Getty Images News | Getty Images Activist investor Ancora received a powerful endorsement in … Read more
Activist Ancora on Thursday won the support of the BMWED Teamsters in the investor’s efforts to oust Norfolk Southern CEO Alan Shaw and a majority of the railroad’s 13-person board. The labor group said it would back the activist’s seven director nominees over Norfolk Southern management, a significant endorsement in an industry unusually dependent on … Read more
A Key Bridge Response 2024 Unified Command image of response crews remove shipping containers using a floating crane barge after the cargo ship Dali struck and collapsed the Francis Scott Key Bridge, on April 7, 2024 in Baltimore, Maryland. Handout | Getty Images News | Getty Images The process of removing shipping containers from the … Read more
A general view of the exterior of the headquarters of Norfolk Southern on April 1, 2023 in Atlanta, Georgia. Icon Sportswire | Getty Images Norfolk Southern is almost two months into a battle with activist investor Ancora, which is trying to shake up the railroad’s board and oust CEO Alan Shaw. Now the firm is … Read more
Just days after CSX announced a new rail line in response to the Port of Baltimore closure, the Baltimore-bound containers that were diverted to the Port of New York and New Jersey are back being unloaded in Baltimore. “We will keep this in play for the duration of the port closure,” said Mark Schmidt, vice … Read more
A Union Pacific freight train is seen traveling on April 21, 2023 in Round Rock, Texas. Brandon Bell | Getty Images One year after the East Palestine, Ohio train derailment created an environmental disaster, the Biden administration on Tuesday unveiled new regulations intended to shore up freight rail safety. A new rule finalized by the … Read more
CSX train at Seagirt Marine Terminal, Port of Baltimore. Baltimore Sun | Tribune News Service | Getty Images CSX is starting a new dedicated freight rail service between Baltimore and New York for its clients on Tuesday to help mitigate the trade disruption as a result of the closure of the Port of Baltimore after … Read more
More than half of the stocks in the S & P 500 hit new 52-week highs in the first quarter, leaving us to puzzle over how this all happened. We act as if it’s all about the earnings or the actions of the Federal Reserve. But maybe it is something else. Maybe it’s the share … Read more
