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A broad-based selloff swept global stock markets this morning after U.S. Treasury Secretary Scott Bessent told the Financial Times that China “will be hurt the most” if it doesn’t submit to Washington’s trade demands. At the same time, China showed no signs of backing down from President Trump’s trade war: It imposed sanctions banning Chinese … Read more
Lorado | E+ | Getty Images September, a key month for shipping ahead of the holiday season, is usually a boom one inside the freight business and supply chain, with products moving from warehouses to stores or consumers. Not this year. The latest Logistics Managers’ Index, which tracks inventory levels, warehouse costs, transportation capacity, and … Read more
A worker prepares orders at an Amazon fulfillment center. Jason Alden | Bloomberg | Getty Images Amazon is eliminating a program that allows members of its Prime subscription program to share free shipping benefits with people outside their household. The company began notifying users in recent days that it plans to end the Prime Invitee … Read more
The container ship Gunde Maersk sits docked at the Port of Oakland on June 24, 2024 in Oakland, California. Justin Sullivan | Getty Images Danish shipping giant Maersk on Thursday posted stronger-than-expected second-quarter operating profit, citing continued focus on operational improvements despite unprecedented geopolitical volatility. The company, widely considered a barometer of global trade, reported … Read more
China is one of Nvidia’s largest markets, particularly for data centers, gaming and artificial intelligence applications. Avishek Das | Lightrocket | Getty Images Two Chinese nationals in California have been arrested and charged with the illegal shipment of tens of millions of dollars‘ worth of AI chips, including from Nvidia, the Department of Justice said … Read more
As Silicon Valley races toward a future where AI agents do most of the software programming, a new problem is created: finding the AI-generated bugs before they are put into production. Even OpenAI is dealing with such issues, a former employee has described. Newly funded startup PlayerZero has created a solution: use AI agents trained … Read more
LDO crypto is stuck below $1, sliding by over 90% from all-time highs. Lido Finance has been shipping major updates, including the release of v3 in testnet-2. The CSM is also live and permissionless. Lido Finance is a critical part of the Ethereum staking infrastructure. Those who cannot raise the required 32 ETH can stake … Read more
Japanese shipping company Nippon Yusen Kabushiki Kaisha, or NYK Line, is acquiring Germany’s salary payment platform for seafaring workers, Kadmos, as it seeks to further expand the reach of its fintech services in the maritime sector. The companies did not disclose the financial terms of the acquisition deal, which is expected to be completed in … Read more
An Islamic Revolutionary Guard Corps speed boat sailing along the Persian Gulf during the IRGC marine parade to commemorate Persian Gulf National Day, near the Bushehr nuclear power plant in the seaport city of Bushehr, in the south of Iran, on April 29, 2024. Nurphoto | Nurphoto | Getty Images The number of vessels navigating … Read more
The shipping industry was placed on high alert on Sunday with warnings that Tehran could retaliate against commercial vessels following US airstrikes against Iran’s nuclear facilities. Greece, home to more oil-tanker capacity than any other nation, cautioned its ship owners to think again if they’re considering entering the Persian Gulf in the wake of US … Read more
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