As much as 5 Billion each day according tojpmorgan analysts. Us retailers, automakers and other businesses now face Ballooning Freight rates ahead of the crucial festive shopping season. Large retailers have pulled forward imports of much of their Holiday Merchandise and made reservations with west Coast Ocean and Rail Carriers in hopes of avoiding any disruption. Lets speak to peter sand, chief analyst at xeneta, an Ocean Freight analytics firm. Hello to you. I know you have already calculated what this could mean if the Strike Action goes ahead, so do tell us more. A disruption like this always comes at a bad time for European Exporters into North America as well as North American exporters out of thE East Coast And Gulf coast. It will be impacted at first but this seems to be a first for almost 50 years, has the potential not only to lift Freight Rates higher due to the disruption from the strike, but certainly also to have wider implications, one or two months later down the road w
Live from london this live from london this is business todAy. Is business todAy. We stArt in the Red SeA where irAn bAcked Yemeni Houthi rebels AttAcked two more Crude Oil TAnkers with missiles And drones on mondAy in whAt us CentrAl CommAnd cAlled Reckless Acts of terrorism. LAte lAst week the group releAsed these pictures of Another AttAck on the greek flAgged tAnker sounion. Since the houthis begAn tArgeting ships in support of the pAlestiniAns over the GAzA WAr bAck in november they hAve lAunched more thAn 70 AttAcks, sinking two vessels, Seizing Another And killling At leAst three seAfArers. The economic impAct hAs been felt fAr beyond the region with ships forced to divert on A long And costly detour Around the horn of AfricA. West coAst soAred 389 Betwen December And july. From AsiA to europe its been even more expensive up 469 over the sAme period. Those prices hAve eAsed A little since but Are still mAssively higher thAn when the houthis begAn their AttAcks. Peter sAnd is Chi
report by the iaea on the plan to discharge the treated water from the fukushima nuclear power plant. ever since, from the fukushima nuclear power plant. eversince, i from the fukushima nuclear power plant. ever since, i have been continuing my efforts in this regard, including in particular by visiting fukushima, where a number of important things happened. the first, i would say, was for me the opportunity to meet with 11 mayors of the region, of the prefecture there, near the plant. the chamber of commerce, the fishermen association and other local actors and people from the area. i felt that my direct contact with them was indispensable, was something i was keen on doing in order to do what i am doing with you here, but of course, with the added, i would say, ingredient of this being in contact with the people at the first lines of impact of whatever we do there. what happened in march 2011 there and the subsequent actions that have been taken by the japanese government f
helped to slow down the rate of price increases for non food products, which eased injanuary down from over 3% in december. i m joined now by shanti kelemen, chief investment officer at m&g wealth. good morning. this isjust what we want to hear before the bank of england has its first meeting of 2024, which happens on thursday. meeting of 2024, which happens on thursday- on thursday. yes, we will have a decision on thursday. yes, we will have a decision from on thursday. yes, we will have a decision from them - on thursday. yes, we will have a decision from them on - a decision from them on interest rates, wiley expected to keep rates unchanged and thatis to keep rates unchanged and that is positive news for inflation and a prices, on the other side we do have the economy still not in a recession and wage growth has been pretty strong. there are some factors balancing inflation, thinking it might not be a sharp drop in the next few months. to not be a sharp drop in the
has said the uk is prepared to back our words with actions against the houthis. peter sand is chief analyst at xeneta, an ocean and airfreight analytics platform. i don t know if you have data or statistics on how this is impacting trade so far? if i look at the impacting trade so far? if i look at the most recent developments, a key indicator of the tensions that we are seeing right now, they are up today following the most recent attacks and tension building. we have now is almost 200% up from about a month ago. we are now at 5400, and in the uk, 4500 up, though still dramatic. the reason tensions are now shooting our destroyers. it is not making this go away. some ofthe not making this go away. some of the world s not making this go away. some of the world s biggest - not making this go away. some of the world s biggest shipping | of the world s biggest shipping companies are completely avoiding the red sea at the moment and that will likely continue for some time? w