High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Subtropical storm Alex has strengthened into a hurricane, becoming the first January hurricane to form in the Atlantic since 1938, the U.S. National Hurricane Center has said.
The NHC says Alex is located about 490 miles (790 kilometers) of Faial Island in the Central Azores, moving north-northeast at 20 mph.
NHC says Alex is packing maximum sustained winds of 85 mph (140 km/hour).
A Hurricane Warning has been issued for the islands of Faial, Pico, Sao Jorge, Graciosa, and Terceira in the central Azores.
Little change in strength is forecast through Friday, the NHC said.
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