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Supply Shock Spreads To US: What It Means For You Supply Shock Spreads To US: What It Means For You
Supply Shock Spreads To US: What It Means For You The supply shock caused by the ongoing standoff in the Strait of Hormuz is spreading to the United States, driving up energy prices, increasing shipping costs, and creating shortages in key goods and materials.  The crisis, which began after the US-Israel attack on Iran started at the end of February, has brought shipping through the critical waterway to a near standstill. The Strait of Hormuz, a vital chokepoint for global energy and petrochemical shipments, typically handles 20 percent of the world’s oil supply. Its effective closure has triggered what analysts are calling one of the…

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by Joe Lombardi
Business
Dick's Closes $2.5B Foot Locker Deal In Major Sporting Goods Merger Dick's Closes $2.5B Foot Locker Deal In Major Sporting Goods Merger
Dick's Closes $2.5B Foot Locker Deal In Major Sporting Goods Merger Dick's Sporting Goods has finalized its purchase of Foot Locker, creating a global sports retail giant with more than 3,200 stores in 20 countries. The Pittsburgh-based chain completed the $2.5 billion deal to acquire the sneaker chain on Monday, Sept. 8. Dick's will keep Foot Locker's brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. The combined company will now operate across North America, Europe, Asia, and Australia, with licensed stores in Europe, the Middle East, and Asia. "We are very enthusiastic about the future of Foot Locker," said Dick's…

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by Chris Spiker
News
New Update: Spacecraft Crashes Into Earth After Over 5 Decades In Orbit New Update: Spacecraft Crashes Into Earth After Over 5 Decades In Orbit
New Update: Spacecraft Crashes Into Earth After Over 5 Decades In Orbit A spacecraft launched more than 50 years ago has crashed into Earth. The defunct probe from the former Soviet Union, known as Kosmos 482, was launched in 1972 on a mission to explore Venus.  A launch failure left it trapped in Earth’s orbit — where it has remained for more than half a century. It finally went down over the Indian Ocean west of Jakarta, Indonesia Saturday morning, May 10, according to Russia's space agency Roscosmos.  Due to a malfunction of the booster block after launch in 1972, it remained in a high elliptical orbit of the Earth, gradually approaching the plan…

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by Joe Lombardi