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Baltimore bridge collapse will impact supply chains across U.S.

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The bustling city of Baltimore was rocked by a catastrophic event as a massive cargo ship collided with the Francis Scott Key Bridge, resulting in a dramatic bridge collapse.

  • A cargo ship collision causes a major bridge collapse in Baltimore, leading to cars and people falling into the river below.

  • Rescuers retrieve two survivors from the water, while search efforts continue for others.

  • Initial investigations suggest a power issue on the ship before impact, prompting the bridge closure and averting further casualties.

The collision, which occurred around 1:30 a.m., sent shockwaves through the city as vehicles and pedestrians plunged into the icy waters of the Patapsco River below.

Baltimore bridge collapse sends vehicles tumbling into water …

Rescue teams sprang into action, managing to retrieve two survivors from the water, while efforts to locate others remain ongoing.

Maryland Governor Wes Moore commended the swift actions of transportation officials in halting traffic on the bridge prior to the collapse, emphasizing their role in potentially saving lives.

Although investigations are still underway, initial reports suggest a power issue aboard the cargo ship before the collision occurred.

Baltimore bridge collapse sends vehicles tumbling into water | Reuters

Despite the magnitude of the disaster, authorities have found no evidence of foul play, with attention turning towards rescue and recovery efforts for the missing individuals.

READ MORE: Could California’s maritime emission compliance battle impact the global supply chain?

The collapse of the Francis Scott Key Bridge has not only brought traffic to a standstill but also cast a shadow over the bustling Port of Baltimore, one of the busiest ports on the U.S. East Coast.

Supply chain

With the port’s operations suspended until further notice, concerns loom over potential disruptions to the supply chain, impacting industries ranging from automotive to commodities like coal and sugar.

As rescue operations continue and investigations unfold, the city of Baltimore remains in a state of shock, grappling with the aftermath of this rare and devastating event.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Calls for tougher protest laws following terror attack

Former minister urges NSW-style protest restrictions after synagogue arson, calling for stronger action against antisemitism.

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A former minister of the Andrews government has criticized Victoria Police for overlooking terror symbols in Melbourne and is urging state Labor to adopt stricter protest regulations akin to those in New South Wales.

Philip Dalidakis, who served from 2015 to 2018, linked the recent arson attack on the Adass Israel synagogue to a failure in public safety measures.

He is advocating for the introduction of protest permits and enhanced police authority to disperse gatherings.

Prime Minister Anthony Albanese has labeled the synagogue attack an act of terrorism, a stance not shared by Victorian Premier Jacinta Allan, who refrained from such a designation to avoid hindering police investigations.

She characterised the attack as designed to instill fear within the Jewish community.

Community fear

Albanese signaled that the attack fits the definition of terrorism due to its intent to incite community fear.

He highlighted Labor’s commitment to Jewish community safety, referencing $25 million allocated to enhance security and an additional $32.5 million pledged.

Opposition Leader Peter Dutton condemned the attack as a national disgrace and accused Labor of failing to address rising antisemitism.

He, along with former Liberal treasurer Josh Frydenberg, called for a formal terrorism designation and the formation of a police taskforce against antisemitism.

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Assad granted asylum in Russia amid regime change

Bashar al-Assad granted asylum in Russia; Biden emphasizes opportunities and risks post-Assad era in Syria.

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Former Syrian President Bashar al-Assad and his family have been granted political asylum in Moscow, according to a source from the Kremlin reported by TASS.

Assad, who was last in Damascus on Saturday, fled the country early Sunday, as confirmed by both Syrian and Arab security officials.

Russia’s foreign ministry indicated that he had officially stepped down and left the country.

Though Assad planned to address the nation Saturday evening, the speech never took place.

His wife and children had previously departed for Russia in late November, with his brothers-in-law moving to the United Arab Emirates.

Potential risks

President Biden referred to the fall of the Assad regime as a “historic opportunity” for Syrians to shape their future.

He acknowledged both the potential and risks involved.

Biden credited his administration’s actions, such as supporting conflicts in Ukraine and Israel, for weakening Assad’s position by diverting the resources of his allies: Russia, Iran, and Hezbollah.

He reiterated the ongoing U.S. sanctions against Assad’s regime.

The U.S. plans to send senior officials to the region and provide humanitarian aid to support the Syrian people during this transition. Biden confirmed that the U.S. military presence in eastern Syria will continue, particularly to secure prisons housing Islamic State members.

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Young men profit from risky crypto and political betting

Young men are increasingly investing in risky crypto and political bets, yielding high returns despite potential risks and disadvantages.

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Young men are increasingly taking risks in cryptocurrency and political betting, reporting substantial gains as markets rise.

Investments by young men are significantly outperforming traditional ones.

A diverse portfolio consisting of bitcoin, gold, GameStop, and DraftKings yielded a 62% return in 2023.

Many young male investors view their speculative trades as a pathway to traditional goals, supported by the entertainment aspects of mobile trading. However, owning cryptocurrency and meme stocks is influenced by gender attitudes. Data from the Pew Research Center shows a stark disparity between young male and female investors in crypto ownership.

Political expectations

The recent surge in bitcoin prices is partly due to favorable political expectations surrounding the newly elected administration. Political betting has also grown, with a majority of participants being male and under 30.

Many young men feel compelled to pursue risky investments due to economic pressures and perceived barriers. While they report higher earnings, nearly half claim to face discrimination, contributing to feelings of alienation.

The pandemic fueled increased retail participation in investing, especially among younger demographics. Influencers on online platforms significantly impact investment decisions, often promoting risky behavior.

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