Drought-Induced Restrictions in Panama Canal Disrupt Global Trade Routes

Drought-Induced Restrictions in Panama Canal Disrupt Global Trade Routes, Highlighting Climate Change Impact

• Over 3% of global trade volume passes through the Panama Canal, with up to 29% of Pacific-bound container trade using it.
• The drought has led to extended waits of over two weeks for vessels light enough to use the canal.
• More than 264 ships were waiting to cross the canal recently, marking a 16% increase from the previous year.

US Industrial Policy Spurs $224 Billion Clean Tech and Semiconductor Manufacturing, Creating 100,000 Jobs Amid Challenges. The legislation includes tax credits, loans, and subsidies, boosting sectors like electric vehicles, batteries, and solar/wind parts.

Intel’s acquisition of Israeli chipmaker Tower Semiconductor worth $5.4 billion has been abandoned due to a lack of regulatory approval in China.

• Intel will pay a $353 million termination fee to Tower Semiconductor.
• Tower’s Israeli-listed shares closed down 7.8% in Tel Aviv.