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The contract agreement reached this week between the Teamsters union and Anheuser-Busch, averting a strike that could have begun Friday, calls for wage increases of $8 an hour over the five years of the deal. A $4-per-hour raise kicks in immediately. Anheuser-Busch (NYSE: BUD) announced the deal late Wednesday. It awaits ratification in the coming…
Red Sea attacks still taking toll on global chemical shipping industry
Ongoing attacks on vessels in the Red Sea by Yemen’s Houthis continue to disrupt shipping lanes in the chemical industry’s supply chain, according to Al Greenwood, chemicals expert and deputy editor at ICIS. “It’s having an impact mainly in Europe and Asia. It’s rearranging routes because the rates for containers have really gone through the…
Photo Gallery: The BelugaST delivers satellite for rocket launch
The beluga is an odd-looking whale found in the cold waters of the Arctic Circle. An aircraft that mimics the whale’s bulging forward attracts a lot of attention. It could become a more frequent visitor to North America after recently receiving operating authority from the Federal Aviation Administration. European aerospace manufacturer Airbus has commercialized the…
Congress exempts Boeing 767 freighter from 2028 production cutoff
The Federal Aviation Administration reauthorization bill approved Wednesday by the U.S. House of Representatives includes language allowing Boeing an extra five years to produce 767 freighters for FedEx and UPS beyond the date when international standards mandating cleaner engine types kick in. The bill gives Boeing (NYSE: BA) a bridge, in case the express carriers…
Benchmark retail diesel price falls again – but only slightly
Oil markets Monday were caught in the middle of opposing bearish and bullish forces, while the benchmark retail diesel price moved down only slightly, given significant declines in diesel futures prices the past two weeks. The Department of Energy/Energy Information Administration average weekly retail diesel price declined 1.3 cents a gallon to $3.755. It’s the…