New year, new union talks: The United States Maritime Alliance (USMX) and the International Longshoremen’s Association (ILA) are set to resume contract negotiations on 7 January over increasing automation at ports, which the union says puts jobs in jeopardy, Reuters reported on Friday, citing a source familiar with the matter. The ILA has pushed for a rollback of the language on automation, while the USMX argues that modernization at ports is crucial to keep US ports competitive.

What if no agreement is reached? Another dockworker strike is on the horizon if the labor union does not land a new contract by 15 January. Shippers already started bypassing ports on the US East Coast and Gulf of Mexico last October over fears of another strike, which would impact bns in trade, increase inflationary pressures, and threaten supply chains.

IN OTHER NEWS- Airbus reports more share buybacks: Airbus has launched another part of the second tranche of its share buyback program, uptaking 161k shares between 23 December 24 and 2 January 2025, according to a statement. The initiative, announced in September, looks to provide for future equity-based compensation plans and employee share ownership plan activities. The firm plans to repurchase a maximum of 10% of its issued share capital, with an end date set at 31 May 2025.

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