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And what would you do with a spare 25 Billion Euros . Thats the question facing the irish Government Today as it delivers its budget following a huge Tax Windfall from Tech Firms. Live from london, this is business today. Im lukwesa burak. We start in the us where in the last 30 minutes tens of thousands of East And Gulf Coast Port workers have started striking for the first time in nearly 50 years. This comes after the international longshoremen s association and the us Maritime Alliance were unable to reach an agreement on the terms of their contract. The strikes will halt trade in a wide range of goods and disrupt the Countrys Economy just as we enter the final weeks before the president ial election. Our North America Business correspondent Ritika Gupt the two major sticking points between international longshoreman ....
And pharmaceuticals, to clothes and toys, with ports accounting for more than half imports in containers. If it extends for weeks, it could lead to shortages and high prices ahead of the presidential election. That is something the new york governor weighed in on. The potential for disruption is significant. We have not had an event like this in our ports since 1977 and that lasted 12 days. We are deeply concerned about the impact that a strike could have on our supply chains, especially when it comes to critical goods like medical supplies and others. Under the 1947 act, president biden has the authority to order workers back to work but the current administration said it would not intervene and encourages all parties to keep negotiating in good faith. The chairman of the f ....
This is the live scene in beirut, as bbc teams report hearing explosions in the capital s southern suburbs israel has ordered the evacuation of three areas. Meanwhile the uk government has chartered a flight to help british nationals leave lebanon, scheduled to leave beirut on wednesday. It s as israeli tanks were seen gathering at the border on monday. Israel s defense minister yoav gallant said the military is prepared to use forces from the air, land and sea to allow thousands of displaced israelis to return to their homes in the north. Meanwhile, the deputy chief of hezbollah, ....
debt and getting financial regulations and co ordinate in the event of an economic shock. slowly emerging as a key player in the biden administration handling of this challenging relationship to the two superpowers. planning to visit china again next year, second visit sincejuly. a major faultline between washington and beijing is the race to develop advanced semiconductors. chips power everything from smartphones to high end military equipment and are increasingly seen as crucial to the global economy. some countries, led by the us, have been trying to stem china s progress in the sector. this week, south korea and the netherlands, two key nodes in the global chip supply chain said they are partnering up. the announcement came during a state visit by the south korean president to netherlands. our two countries have decided to establish semiconductor alliance encompassing governments, businesses, and universities. the netherlands, the world s largest producer of semicon ....
campaign is on his mind while on this trip to scotland and ireland. he says a victory for him would make america greater than ever before. he said earlier we will be leaving for scotland and ireland soon in order to inspect my great properties there. the second largest bank failure in history unfolds in the us as regulators shut down first republic bank and sell its assets tojp morgan. and solving london s housing crisis how one community is building its own solution selling affordable housing to locals. welcome to world business report, i m ben thompson. also in the programme we re going to take a look at the state of the commerical property sector, in the post covid world. but first. let s start in the united states, where us regulators have closed down first republic bank, and sold the troubled lenders assets tojp morgan. it was one of six banks that submitted bids to buy first republic, at an auction run by regulators. it makes it the second largest retail bank fa ....