- Ancelotti holds hands up as Real Madrid's long unbeaten run ends
- Juventus played like a team 'possessed', says Vlahovic
- Real Madrid beaten in Champions League as Villa shock Bayern
- US urgently tries to shape Israel's response to Iran
- Tigers sweep Astros to advance in MLB playoffs
- Dodgers say pitching icon Valenzuela 'focusing on health'
- Rampant Benfica smash Simeone's Atletico in Champions League
- Conceicao stunner nets 10-man Juventus win at Leipzig
- Aston Villa stun Bayern in repeat of 1982 European Cup final
- Rally in oil prices loses steam on mixed day for global stocks
- Rampant Benfica smash Simeone's absent Atletico
- David strikes as Lille claim Real Madrid scalp in Champions League
- Slot makes Liverpool history as Reds beat Bologna
- Biden, Harris tour areas slammed by major storm
- Doctor who provided Matthew Perry's drugs pleads guilty
- South America treated to rare 'ring of fire' eclipse
- Calf injury slows Doncic as Mavs launch training camp
- Biden official says port strike deal not as far as parties think
- Knicks get Towns from T-wolves for Randle in major NBA deal
- Leicester coach Cheika handed ban for 'disrespecting' doctor
- Jewish pilgrims journey to Ukraine, from one war to another
- Mexico's new president offers apology for 1968 student massacre
- Man Utd start no cause to 'panic' says under-fire Ten Hag
- Historic funding round values OpenAI at $157 billion
- More own goal agony as Girona tumble against Feyenoord
- South Africa trounce Ireland by 139 runs in first ODI
- Biden, Harris travel to areas slammed by 'historic' Hurricane Helene
- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Spurs star Maddison eyes return to England squad
- Eight Israel soldiers dead as Hezbollah claims to repel incursion
- French luxury goods giant LVMH in F1 sponsorship deal
- Juve's injury-hit Milik undergoes more knee surgery
- Pochettino gives chance to USA squad to prove their worth
- NBA legend Jordan files anti-trust lawsuit against NASCAR
- Bridgestone latest Japanese firm to end Olympics sponsorship
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
- McIlroy hopeful golf's civil war will be over by end of 2024
- Oil prices pare strong gains, stocks waver on Middle East worries
- Buttler returns as England captain for West Indies tour
- Biden, Harris travel to areas hit hard by Hurricane Helene
- First deaths as Israeli ground forces clash with Hezbollah
- Macron backs Chinese EV tariffs as Scholz calls for dialogue
- Study reveals long-term death toll of cyclones as world battered
- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Russia opens 'extremist' trial of four independent journalists
- Alcaraz 'got the joy back' after dramatic Beijing title win
- How will Israel react to Iranian missile attack?
- British jets 'played their part' in defending Israel: UK
- Carter beloved in hometown, but many voting for Trump
RBGPF | -2.18% | 59.5 | $ | |
RYCEF | -0.43% | 6.9 | $ | |
GSK | -2.15% | 39.45 | $ | |
BTI | -1.33% | 35.97 | $ | |
CMSC | 0.04% | 24.78 | $ | |
NGG | -1.85% | 68.78 | $ | |
RELX | -0.11% | 47.29 | $ | |
VOD | -2.16% | 9.74 | $ | |
SCS | -2.56% | 12.87 | $ | |
RIO | -0.48% | 70.82 | $ | |
CMSD | -0.04% | 24.93 | $ | |
BP | 0.86% | 32.37 | $ | |
AZN | 1.14% | 79.58 | $ | |
BCC | -1.33% | 139.53 | $ | |
JRI | -1.12% | 13.38 | $ | |
BCE | -1.13% | 34.44 | $ |
Biden official says port strike deal not as far as parties think
Shippers and striking US dockworkers are closer to agreeing on economic terms than they realize, Secretary of Transportation Pete Buttigieg said Wednesday.
"We actually think the parties, economically, are not as far apart from each other as they may think," Buttigieg told CNBC a day after the International Longshoremen's Association (ILA) launched a strike at major East and Gulf Coast ports.
"They're the ones who need to get to the table, work it out, reach a deal and get those ports back," Buttigieg said.
About 45,000 workers walked off their port jobs early Tuesday, having failed to reach a new agreement with the United States Maritime Alliance (USMX), which represents shipping companies and terminal operators, by the Monday night deadline.
The union is pressing for protections against automation-related job loss and for hefty wage hikes after dockworkers kept providing essential services throughout the Covid-19 pandemic.
Buttigieg said in his travels to Europe, he had seen examples of port upgrades that were "implemented in partnership with their trade unions in a way that didn't lead to any job loss."
An ILA spokesman said Wednesday afternoon there were no updates on the negotiations front.
The USMX did not immediately respond to a request for comment.
Buttigieg echoed other Biden administration officials who have called for the shipping companies to step up with a better offer after a stretch of huge profits.
"We're talking about an industry that got unbelievable profits," Buttigieg said, citing one year in which global shippers made $220 billion. "They are certainly in a position to be able to include workers to participate in this profitability. They could end this tomorrow."
Analysts caution that a lengthy strike could pose a major headwind to the US economy, leading to shortages of some items and lifting costs at a time when inflation has been moderating.
A lengthy strike would also increase calls for a White House intervention to end the strike, which comes in the final weeks of a contentious US presidential campaign.
A.Mahlangu--AMWN