
Retailers plead with Biden to fix port congestion that has upended supply chains
CNN
The National Retail Federation is calling on the White House to address the logjam at US ports that is snarling commerce as the economy swiftly recovers from the pandemic.
"The supply chain disruption issues, especially the congestion affecting our key maritime ports, are causing significant challenges for America's retailers," Matthew Shay, the NRF's president and CEO, wrote in a letter to President Joe Biden on Monday. The retail trade group warns that these problems have added "days and weeks" to supply chains, led to inventory shortages and added significant transportation and warehousing costs.
An initial reading of third-quarter gross domestic product showed the US economy expanded at an inflation-adjusted annualized rate of 4.3%, a far faster pace than the 3.8% recorded in the second quarter, according to Commerce Department data released Tuesday. That’s the fastest growth rate in two years.

Paramount has upped the ante in its hostile takeover bid for Warner Bros. Discovery, announcing Monday that Larry Ellison will personally guarantee the tens of billions of dollars he is putting up to bankroll the transaction. The Ellisons will also let shareholders peer into the finances of their family trust.











