Business Related

Business News – 11-02-2021

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

K Buenavista

Mr. Buenavista is a writer that specializes in breaking down complex topics into easy to understand formats that appeal to a wide range of news seeking readers, without missing the important details. He handles a majority of the daily news reporting at Easy-Ad, and has written on many other websites. He resides in Southern California.

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