WASHINGTON—The White House said Thursday it had reached a tentative agreement to avoid a potential railway strike that threatened to shut down a crucial vein of the U.S. economy.
President Biden said the tentative deal “is an important win for our economy and the American people.” He credited the unions and rail companies “for negotiating in good faith and reaching a tentative agreement that will keep our critical rail system working and avoid disruption of our economy.”
The European Union is checking whether protectionist elements of a $437 billion health, climate and tax law recently passed by the US are in violation of World Trade Organization rules, according to Trade Commissioner Valdis Dombrovskis.
“We have concerns about a number of discriminatory elements in this Inflation Reduction Act which puts requirement for local content, for local production,” Dombrovskis, who also is a European Commission vice president, told Bloomberg in Prague. “So we are assessing if it’s in line with WTO requirements and with government procurement agreement.”
As reported by Bloomberg, a unanimous vote took place on 12 September.
Port operatives and the engineering department have turned down Peel Ports Ltd.’s proposal of a 7 per cent wage increase and a one-time payment of £750 ($875).
The walkout will take place between 6:00 am Monday 19 September and 6:00 am Monday 3 October.
Workers at MDHC container services at Peel Ports voted in August in favour of the strike. In a ballot with an 88 per cent turnout, 99 per cent voted for strike action.
Liverpool’s dockworkers have been fighting for pay increase amid soaring inflation, which has raised above 10 per cent.
The government of India has announced a liberalised public land leasing policy for investors seeking to bid on rail-linked freight terminal projects.
The policy update is part of New Delhi's flagship “Gati Shakti” scheme, designed to provide multimodal connectivity infrastructure support to various economic zones. Under this programme, launched in 2021, the authorities are targeting to build 300 freight terminals over the next five years.
Chinese authorities have begun taking precautions with yet another typhoon approaching the Yangtze River Delta.
Barely a week after super typhoon Hinnamnor brushed past Shanghai, Typhoon Muifa is forecast to lash the world's busiest container port and Ningbo, China's second busiest container port, on 14 September.
With 111 days until its introduction, critics of the International Maritime Organization’s (IMO) Carbon Intensity Indicator (CII) are growing.
The CII, which debuts on January 1 alongside the IMO’s Energy Efficiency Existing ship Index (EEXI), are the most significant pieces of green legislation from the United Nations body since the 2020 introduction of the global sulphur cap.
The Productivity Commission of Australia released a report, which among other issues focuses on boosting productivity at the country’s major seaports. The report contends that persistent inefficiencies at the Australian ports are costing the economy an estimated A$605 million (approximately US$415 million) per year.