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On August 28th, in response to US President Trumps executive order signed on the afternoon of August 27th, renaming Lake Ontario on the US-Canada border as "Lake of the United States," Canadian Prime Minister Carney posted on social media, stating, "The name Lake Ontario has been around for over 400 years, predating the formation of the Canadian Confederation and the publication of the US Declaration of Independence. We know that the United States is changing. Their trade relations, foreign policy, national monuments, and even the names of their various bodies of water (hydrological names). And Canadians know, respecting reality, that its name is Lake Ontario—it was, it is, and it always will be."August 28th - According to foreign media reports, court documents and related footage suggest that media mogul Rupert Murdochs long-held desire to reunite Fox and News Corp. may become a reality through a potential merger. Discussions about a possible renewed merger have surfaced in recent weeks as court documents related to a family succession dispute that began in 2023 were unsealed and testimony from a lawyer was disclosed. It is understood that in 2022, Rupert Murdoch, then chairman of both Fox and News Corp., began expressing interest in reuniting the two companies less than a decade after splitting them. Murdoch drafted a letter to the boards of both companies stating that the family trust would not "support any other sale, merger, or similar transaction involving companies other than these two." When representatives of Murdochs daughter, Elizabeth, questioned the restructuring, Murdoch immediately threatened via text message: "I will force it if necessary." The merger failed due to investor opposition, but court proceedings in June suggest Murdoch may try again. At a hearing on whether court testimony should be made public, Lachlan Murdochs lawyers argued that any discussions related to the merger should be kept confidential or deleted because "this could still happen in the future and open a new chapter."The Dow Jones Industrial Average rose 104.67 points, or 0.20%, to close at 53,568.55 on Thursday, August 27; the S&P 500 rose 55.10 points, or 0.72%, to close at 7,730.80; and the Nasdaq Composite rose 411.16 points, or 1.57%, to close at 26,541.35.August 28th - U.S. stocks closed Thursday with the Dow Jones Industrial Average up 0.2%, the S&P 500 up 0.7%, and the Nasdaq Composite up 1.57%. SK Hynix (SKHY.O) rose 2%, Tesla (TSLA.O) rose 2.6%, Nvidia (NVDA.O) rose 8.7%, and Broadcom (AVGO.O) rose 4%. The Nasdaq China Golden Dragon Index fell 0.74%, Baidu (BIDU.O) rose 4%, and Alibaba (BABA.N) fell 3%.According to the Financial Times, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) will release a new set of rules on Thursday.

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."