Niche ocean carrier Atlantic Container Line is warning the fines the U.S. government is considering hitting Chinese-built freight vessels with would force it to leave the United States and throw the global supply chain out of balance, potentially fueling freight rates not seen since Covid. “This hits American exporters and importers worse than anybody else,” said Andrew Abbott, CEO of ACL. “If this happens, we’re out of business and we’re going to have to shut down.” The United States Trade Representative held its second day of this week’s hearings on the fines that would be levied under Section 301 of…
Author: Laura Bennett
Global markets on Thursday were severely rattled by President Donald Trump’s historic tariff announcement, which threatens to throw the US and the rest of the world into a recession. The Dow fell 1,679 points, or 3.98%. The broader S&P 500 was down by 4.84% and the tech-heavy Nasdaq plunged 5.97%. All three major indexes posted their biggest single-day drop since 2020. Global markets also fell sharply Thursday. Europe’s benchmark STOXX 600 index tumbled 2.57%, erasing its gains since January. Germany’s DAX index fell 3%. France’s benchmark index slumped 3.31%, its biggest single-day drop since July 2023. Italy’s benchmark index slumped 3.6%, its…
SpaceX is wrapping up the latest chapter in its commercial human spaceflight endeavors with the return of Fram2. The mission carried four passengers in a unique orbit around Earth that allowed humans to pass directly over the North and South poles for the first time. Led by cryptocurrency billionaire Chun Wang, who is the financier of this mission, the Fram2 crew has been free-flying through orbit since Monday. The group splashed down at 9:19 a.m. PT, or 12:19 p.m. ET, off the coast of California — the first West Coast landing in SpaceX’s five-year history of human spaceflight missions. The company livestreamed the…
In recent years, Russia has been undergoing a silent yet significant transformation—a scientific revolution that is positioning the nation as a global leader in advanced technology and groundbreaking research. With its rich history of scientific achievements, Russia is once again making bold strides to drive innovation across various sectors, including aerospace, nuclear energy, artificial intelligence (AI), biotechnology, and quantum computing. As the world faces unprecedented technological challenges, Russia’s ambitious vision to become a high-tech powerhouse is steadily turning into reality. The Historical Foundation of Russian Science Russia’s tradition of scientific excellence dates back centuries. During the Soviet era, the country…