Quick Glance: Joe Biden praises groups for labor agreement in West Coast ports
- President Joe Biden welcomes leaders of the International Longshore and Warehouse Union and the Pacific Maritime Association to the White House.
- Emphasizes improved pay benefits for dock workers.
- Contract receives ratification with 75% approval from ILWU members.
- Agreement creates a crucial framework for addressing new competitive challenges and positioning the West Coast ports as top choices for global shippers.
Quick Glance: Is a UPS workers' strike looming?
- The company announced that the union has walked away from negotiations.
- Teamsters union will not work without a fully ratified contract after July 31.
- According to a risk analysis by Deutsche Bank, the Teamsters strike fund will be completely depleted within three weeks of a strike starting.
- On June 28, the union walked away from the bargaining table and members began nationwide practice pickets.
Quick Glance: Charlie Munger doubts AI: 'Traditional intelligence works pretty well'
- Billionaire investors Warren Buffett and Charlie Munger are not hopping onto the AI hype train.
- Munger personally expresses skepticism towards some of the AI hype.
- Buffett has previously questioned the societal benefits of AI technology like ChatGPT.
- Buffett and Munger are not alone in their concerns regarding the rapid development of AI technology.
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Quick Glance: FTX fiasco threatens industry catastrophe, bitcoin drops 25%: JPMorgan
- Financial difficulties at Sam Bankman-Fried's organization could lead to the demise of other crypto players, resulting in a scarcity of industry saviors.
- Bankman-Fried was hailed as the white knight of cryptocurrency, and was even compared to Warren Buffett, who infused much-needed investment into multiple failing companies during the previous financial crisis.
- "The number of entities with stronger balance sheets able to rescue those with low capital and high leverage is shrinking within the crypto ecosystem," JPMorgan strategists warned.
- "If you don't know how much leverage is in crypto, you don't know anything about crypto," he added, reiterating a warning he issued in June 2021.
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New data from tech job search platform Otta reveals that women job candidates provide lower minimum salary requirements than men.
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Politicians who say the 2020 election was stolen are on the ballot this midterm election for key statewide positions. Scott Pelley reports from Arizona on a ... Show more CBS News
Quick Glance: China's Xi Jinping drags former president out of meeting on live television
- Former Chinese President Hu Jintao abruptly exited Congress.
- As Xi Jinping asserts his power, security was observed removing China's ex-president Hu Jintao from a congress meeting.
- Two security personnel walked the 79-year-old off stage, leaving him perplexed as to why he had been removed.
Quick Glance: Watch as China's Xi has the previous president hauled out as he gets a third term.
- Take in the most recent local, national, and worldwide news.
- Shanghai Communist Party boss Li Qiang accompanied Xi onto the platform at the Great Hall of the People to present the new Politburo Standing Committee, placing him in line to succeed Li Keqiang when he retires in March.
- China's Xi consolidates authority as the party congress concludes.
- Cai Qi, 66, enters the Standing Committee from his position as Beijing party head. He is regarded one of Xi's closest political supporters, having worked with him in the coastal provinces of Fujian and Zhejiang for 20 years.
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Quick Glance: Biden and Xi clash on Taiwan, but hope to "manage" differences
- According to the White House, Biden and Xi agreed to "empower key senior officials" to work on potential areas of cooperation, such as combating climate change and ensuring global financial, health, and food stability.
- Several times during his presidency, Biden has stated that the United States would protect the island, which China has eyed for eventual unification, in the event of a Beijing-led assault.
- However, administration officials have repeatedly stated that the United States' China policy has not altered.
- Despite the fact that the two men have had five phone or video talks during Biden's presidency, White House officials have stated that those interactions are no substitute for an in-person meeting.