Los Angeles Port Executive says fines for lingering cargo have helped port-congestion issues
- Gene Seroka, the Executive Director of the Port of Los Angeles says that the decision to impose fines on lingering cargo was a “last resort decision but it has helped congestion
- With the policy that took effect on November 1, Ocean carriers will be charged $100 per day for each container that’s left for 9 or more days
CEO of BlackRock concerned about the clean energy transition push
- The Chair and CEO of BlackRock, Larry Fink says that the “so-called” energy transition needs to be reevaluated
- Fink also criticized oil firms for selling portions of their assets to private companies which prevents more information about polluting activities from being acknowledged
- He also argues that emerging countries might not be able to afford the transition and funds must be set aside to have a “fair and just transition” as Fink put it
Bloomin’ Brands stock fall by 11% after higher costs follow 2022 predictions
- The shares of the parent company to Outback Steakhouse, Bloomin’ Brands, fell by 11% on November 2 after the company says it’s expecting another $170 million in additional costs
- The company has said that it will increase menu prices by 3% in November in order to offset rising costs
