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Police reported no ongoing threat, and several individuals have been detained. View More

The entry of the Houthis in the war marks a significant escalation in the conflict as it enters its second month. View More

In this article@CL.1Follow your favorite stocksCREATE FREE ACCOUNT Protesters, predominantly Houthi supporters, demonstrate in solidarity with Palestinians, in Sanaa, Yemen on Aug. 1, 2025.Khaled Abdullah | Reuters Yemen's Houthis launched a missile strike against Israel, the group said Saturday. It was the first time the Tehran-backed militia had intervened in the U.S.-Israeli-led war against Iran, which has entered its second month."The Yemeni Armed Forces ... have carried out the first military operation using a barrage of ballistic missiles targeting sensitive Israeli military sites," Houthi spokesman Yahya Saree said in a post on X.Saree said the strike was in support of Iran's regime and Hezbollah forces in Lebanon.The Israel Defense Forces said they "identified the launch of a missile from Yemen towards Israel," adding that its aerial defenses intercepted the threat.The move by the Houthis marks an escalation in the conflict, which began with U.S. and Israeli airstrikes against Iranian targets on Feb. 28.Analysts have told CNBC that the Houthis could attempt to choke off maritime traffic through the Bab el-Mandeb Strait, separating the Arabian Peninsula and the Horn of Africa — through which ships must pass to reach the Red Sea and the Suez Canal — adding to pressure on global trade.Early Saturday, Danish shipping giant Maersk, widely regarded as a barometer of global trade, responded to reports of drone activity and explosions that occurred at the Port of Salalah in Oman. "We are pleased to confirm that all Maersk crew are safe and accounted for and no Maersk vessels or cargo have been affected," the company said in a statement. "Following the incident in which a terminal crane sustained damage and a port worker suffered minor injuries, the port was immediately evacuated and operations across the facility were temporarily suspended."Maersk had said earlier in March that the situation in the Middle East had prompted it to pause future trans-Suez sailings through the Bab el-Mandeb Strait until further notice.The Port of Salalah remains in full cooperation with relevant authorities and Maersk's current estimate is that operations will be on hold for approximately 48 hours. We will inform customers if there are any changes to this timeline as soon as information becomes available.The Bab el-Mandeb Strait was estimated to account for 12% of seaborne oil trade and 8% of liquefied natural gas trade in the first half of 2023.Iranian forces have already effectively shut down the Strait of Hormuz between Iran and the Arabian Peninsula, through which about 20% of the world's oil supplies moved before the war.Oil prices on Friday closed at their highest level in more than three years, as President Donald Trump's pivot toward negotiations with Iran failed to ease market fears about the huge supply disruption in the Middle East. Stock Chart IconStock chart iconWest Texas Intermediate crude oil price, one year U.S. crude oil prices rose 5.46% to close at $99.64 per barrel. International benchmark Brent crude prices gained 4.22% to settle at $112.57. Trump's move to give Iran a 10-day extension to open the strategically vital Strait failed to soothe supply concerns. The president said in a social media post on Thursday that talks with Iran were "going very well" despite "erroneous statements to the contrary by the Fake News Media, and others."As part of the announcement, the U.S. president said he would pause attacks on Iran's energy infrastructure through April 6. Iran has not yet commented on Trump's latest remarks. More U.S. troops arrive in the Middle East The U.S. Central Command confirmed the 31st Marine Expeditionary Unit, made up of roughly 3,500 Sailors and Marines, arrived in the Middle East on Saturday."U.S. Sailors and Marines aboard USS Tripoli (LHA 7) arrived in the U.S. Central Command area of responsibility, March 27," according to a statement posted on X.The USS Tripoli, an amphibious assault ship, and the elements of the 31st Marine Expeditionary Unit are based in Japan. They were conducting exercises in the area around Taiwan when they were ordered to the Middle East almost two weeks ago.U.S. Central Command said that in addition to the Marines, the Tripoli also brings transport and strike fighter aircraft, as well as amphibious assault assets to the region.The USS Boxer and two other ships, along with another Marine Expeditionary Unit, have also been ordered to the region from San Diego. Saudi oil pipeline pumps 7M barrels per day: Bloomberg Saudi Arabia's East-West pipeline, which circumvents the Strait of Hormuz, is pumping oil at its full capacity of 7 million barrels a day, Bloomberg News reported on Saturday, citing a person familiar with the matter.Crude oil exports from Saudi Arabia's Yanbu port on the Red Sea have now reached 5 million barrels a day, and the country is also exporting about 700,000 to 900,000 barrels a day of oil products, the Bloomberg report said.Reuters could not immediately verify the report. Saudi Arabia's Aramco 2223.SE did not immediately respond to a request for comment.Aramco CEO Amin Nasser told reporters earlier in March, on an earnings call, that the East-West pipeline was expected to reach its full capacity of 7 million bpd in the coming days as customers reroute. U.S. troops suffer casualties at Saudi base: AP More than two dozen U.S. troops have been wounded in Iranian attacks on Saudi Arabia's Prince Sultan Air Base in the past week, two people who have been briefed on the matter told the Associated Press. Iran fired six ballistic missiles and 29 drones at the base Friday, injuring at least 15 troops, including five seriously, according to AP sources, who were not authorized to comment publicly and spoke on the condition of anonymity.The base, about 96 kilometers (60 miles) from the Saudi capital of Riyadh, came under attack twice earlier in the week, including a strike that wounded 14 U.S. troops, according to the people briefed on the matter. The base is run by the Royal Saudi Air Force but is also used by U.S. troops. Attempts at diplomacy continue The latest attacks happened after Trump claimed that talks on ending the war were going "very well." Iran says it has not engaged in any negotiations.With the economic repercussions from the war extending far beyond the Middle East, Trump is under growing pressure to end Iran's chokehold on the strait.Pakistan said Saturday that Saudi Arabia, Turkey and Egypt will send their top diplomats to Islamabad for talks aimed at ending the war.Foreign Minister Ishaq Dar said in a statement that Saudi Foreign Minister Prince Faisal bin Farhan, Turkey's Foreign Minister Hakan Fidan and Egypt's Foreign Minister Badr Abdelatty will arrive Sunday for a two-day visit to "hold in-depth discussions on a range of issues, including efforts to de-escalate tensions in the region."Pakistan's Prime Minister Shehbaz Sharif said Saturday that he and Iranian President Masoud Pezeshkian held "extensive discussions" on regional hostilities and efforts aimed at end the war.Also, on Saturday, the Iranian foreign minister, Abbas Araghchi, told his Turkish counterpart by phone that Iran was skeptical about recent diplomatic efforts to stop the war. Iranian state-run media reported that Araghchi accused the United States of making "unreasonable demands" and engaging in "contradictory actions," raising doubts about the prospect of an agreement.Trump envoy Steve Witkoff has said Washington delivered a 15-point "action list" to Iran for a possible ceasefire, with a proposal to restrict Iran's nuclear program and reopen the strait. Tehran rejected the proposal and presented its own five-point proposal that included reparations and recognition of its sovereignty over the waterway. Death toll climbs Iranian authorities say more than 1,900 people have been killed in the Islamic Republic, while 19 have been reported dead in Israel.In Lebanon, where Israel has started an invasion in the south, officials said more than 1,100 people have been killed since the start of the war.Meanwhile, at least 13 U.S. troops have been reported killed, while in Iraq, where Iranian-supported militia groups have entered the conflict, 80 members of the security forces have died.In the Gulf states, 20 people have been killed and four others in the occupied West Bank.The U.N.'s International Organization for Migration also said Friday that 82,000 civilian buildings in Iran, including hospitals and the homes of 180,000 people, were damaged. Israel strikes Iranian nuclear facilities Israel focused its Friday attacks on sites "in the heart of Tehran" where ballistic missiles and other weapons are produced, the military said. It said it also hit missile launchers and storage sites in Western Iran, while witnesses in eastern Tehran reported a partial power outage following airstrikes.Iran's Atomic Energy Organization said the Shahid Khondab Heavy Water Complex in Arak and the Ardakan yellowcake production plant in Yazd Province were targeted, IRNA reported. The strikes did not cause casualties and there was no risk of contamination, it said.Yellowcake is a concentrated form of uranium after impurities are removed from the raw ore. Heavy water is used as a moderator in nuclear reactors.The Israeli military later said raw materials are processed for enrichment at the Yazd plant and the strike was a major blow to Iran's nuclear program. Tehran vowed to retaliate. Possible breakthrough to allow aid, farm shipments Iran agreed to allow humanitarian aid and agricultural shipments through the Strait of Hormuz following a request from the United Nations. Ali Bahreini, the country's ambassador to the U.N. in Geneva, said Iran agreed to "facilitate and expedite" such movement.The vital waterway usually handles a fifth of the world's oil shipments and nearly a third of the world's fertilizer trade. While markets and governments have largely focused on blocked supplies of oil and natural gas, restrictions on fertilizer ingredients and trade threaten farming and food security worldwide.— CNBC's Terri Cullen, Reuters and the Associated Press contributed to this report. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

People in romantic relationships tend to expect financial discussions about with their partner to go worse than they actually do, a new study finds. View More

Senior couple having coffee in front of suburban homeMomo Productions | Digitalvision | Getty Images For many couples, money is a source of stress: They might be facing credit card debt or student loans, trying to buy a house, or figuring out child care. Talking about it could help. But people in romantic relationships usually brace for a money talk with their partner to be a worse experience than what, in fact, unfolds, according to a new study published this month in Social Psychological and Personality Science. "They anticipated these conversations would be less enjoyable, informative and socially connecting than they actually were," said study co-author Ximena Garcia-Rada, assistant professor in marketing at Texas A&M University. More from Women and Wealth:Expecting to fight about money with your partner? You might be wrong: studyBelle Burden's 'Strangers' highlights key financial red flags for womenSingle women see homeownership as 'a wealth-building tool,' economist saysMore women pursue skilled trades — here's what some said about their experienceOlder women may inherit most of $54 trillion in spousal 'great wealth transfer'Couples often miss this 'overlooked tax break' for retirement savers: CFPWomen and the K-shaped economy: Lower pay, affordability issues reduce spending The research included over 1,600 married individuals. Across three experiments, participants were surveyed before and after a talk with their partner about finances. Repeatedly, they emerged feeling closer to their significant other and more aligned than they'd expected. "This miscalibration appears to stem from underestimating the degree of agreement they would ultimately reach with their partner," Garcia-Rada said. Money 'can feel harder to bring up than sex' There are a few reasons people likely expect a chat about money with their partner to devolve, Garcia-Rada said. They may not fully know their partner's underlying values or be more focused on potential disagreements than areas of common ground, she said. They may also be putting a lot of weight on prior conflicts.Money "can feel harder to bring up than sex," said certified financial planner Douglas Boneparth, president and founder of Bone Fide Wealth, a wealth management firm in New York City. "The fear isn't really about numbers," said Boneparth, who with his wife coauthored the book "Money Together." "Money represents something different to everyone: trust, control, love, freedom. Talking about money means exposing all of that.""People fear judgment," he added. "So instead of risking it, they avoid the conversation altogether." This miscalibration appears to stem from underestimating the degree of agreement they would ultimately reach with their partner. Ximena Garcia-Radaassistant professor in marketing at Texas A&M University But dodging these discussions is dangerous, said Carolyn McClanahan, a CFP and founder of Life Planning Partners in Jacksonville, Florida."Money is a big cause of unhappy marriages," said McClanahan. "So having money conversations and building a healthy approach to finances together can mitigate the need for future therapy or divorce," she said. Other academic research finds that communication about money can lead to greater marital satisfaction and stability. 'A conversation can lead to compromises' Cathy Curtis, a CFP and founder and CEO of Curtis Financial Planning in Oakland, California, said she wasn't surprised that the study's participants doubted a money talk with their partner would go swimmingly. She said she witnesses couples who disagree on the topic all the time. "For example, one partner wants to remodel the house, the other thinks it's fine the way it is," Curtis said. "One partner wants to fly business class, the other thinks it's a waste of money." But when there's mutual respect in the relationship, she also sees how these tough conversations lead to compromises, Curtis said. "Perhaps the remodel is spread over a few years, instead of all at once," she said. "Business class is fine if the flight is over eight hours, for example." Couples may be more likely to reach agreements if they can be vulnerable together and express their deeper feelings and past experiences involving finances, McClanahan said."They should share their money history, so they understand how each other thinks," she said. More than anything else, you want to approach the conversation with curiosity, Boneparth said. "Your goal isn't to win," he said. "It's to understand." Boneparth, McClanahan and Curtis are all members of CNBC's Financial Advisor Council. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Worried about consumer inflation to come from Strait of Hormuz closure? The economy has one word for you other than oil: plastics. View More

In this article@CL.1Follow your favorite stocksCREATE FREE ACCOUNT Jeff Greenberg | Universal Images Group | Getty Images The price of naphtha may not keep you up at night when you think about the inflation yet to hit the economy from the U.S.-Iran war and Strait of Hormuz closure, but perhaps it should. As gas prices continue to rise alongside crude oil, costs of petroleum derivatives — petrochemicals — are also rising, and that eventually may have a far wider impact on consumers than gas prices. The cauldron of petrochemicals sounds like a high school chemistry class study guide: benzene, butadiene, ammonia, styrene, naphtha and many other oil-based byproducts. Known as feedstocks in industry parlance, they go into everything in your life, from hospital gloves to pasta packaging. And the costs of these chemicals are rising even if consumers won't notice for a while. But Stanislav Krykun, CEO of DST-Pack, a Poland-based packaging company, is already seeing it on the factory floor. "Our plastic suppliers in China have raised prices by roughly 15% recently, and they've pointed to higher raw material costs and general market uncertainty as the reason," Krykun said. Krykun's factory produces packaging for companies all over the world, including the U.S., and he can see now what consumers will see later: increased prices.  Most people aren't focused on Advent calendars right now — those chocolates hidden under perforated punch-outs to celebrate each day of the season. But Krykun is thinking about it. Orders are already ramping up for the 2026 Christmas holiday season, and these calendars often include molded plastic trays inside, and these are going to get more expensive. "We're currently working with dozens of clients on Advent calendar production, many of whom are at the sampling or early production stage. Due to recent developments, we've had to recalculate costs for many of these projects specifically because of the increase in plastic prices, which directly impacts the cost of these inserts," Krykun said. One key thing to understand is that the impact of these price increases is not immediate. "It's quite gradual," Krykun said. Companies that had already confirmed production and locked in pricing for upcoming shipments were still able to proceed at previous cost levels. "However, all new orders placed over the past couple of weeks are already being quoted at higher prices," Krykun said. "Packaging needs to be produced, shipped to the manufacturer, filled with product, and only then distributed to retail. So any price changes typically become visible on shelves with some lag rather than instantly," Krykun added. Trillions of dollars in everyday goods will be impactedWhen the lag wears off, the impact will be felt pretty much everywhere and in everything. "The uses of petrochemicals are wide-ranging and, essentially, impact everything we use and consume. It would be hard to identify something that didn't have an oil or natural gas-based component unless it was constructed entirely of wood," said Tom Seng, assistant professor of professional practice in energy finance at Texas Christian University's Ralph Lowe Energy Institute. "The amount of plastic used in auto and truck manufacturing alone is huge," he added.Of the 193 active petrochemical complexes in the Middle East, about 79% are in just Saudi Arabia, Iran and Qatar, with Saudi Arabia alone representing 75% of production capacity. He added that the Gulf Cooperation Council States — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the U.A.E. — collectively produce about 12% of the world's petrochemicals, or 150 million tons per year. All of those petrochemicals are almost solely dependent on the Strait of Hormuz for shipping their product. "There are so many of these everyday goods that will be impacted," said Jeff Krimmel, founder of energy consultancy Krimmel Strategy Group. Krimmel said that petrochemical shortages and price increases will find their way into textiles, detergents, food, and beverages. "So much of the world is packaged and transported in various forms of plastic," Krimmel said.  watch nowVIDEO4:2604:26What the Iran war means for affordabilityPolitics All of those plastics come from feedstocks that have their origin in oil, like naphtha, propylene, methanol, ammonia, and styrene. While there are some byproducts available elsewhere, the Middle East oilfields are the top source for naphtha and there is no substitute for that. "Naphtha is really important, it is a richer, more liquid-based feedstock with a slate of outputs that cascade across the economy," Krimmel said. Even if combat ceased immediately, it will take time to normalize the supply and demand on the back end. The longer hostilities last, the more the issues will accumulate. So, there is no consumer who should be breathing a sigh of relief any time soon, Krimmel said. More consumer price inflation, more lower-income stressAtsi Sheth, chief credit officer at Moody's Ratings, said this is only the most recent shock for a petrochemical industry that has seen several in recent years, from Covid to Ukraine to the Red Sea issues and now the Strait of Hormuz. She said the biggest shock, though, was China increasing its output of petrochemicals, and that global oil companies, sensing vertical integration opportunities, started producing more. "Moody's has been calling out that there is a supply shock — too much supply, not enough demand," Sheth said. Because of that, Moody's has taken a number of downward ratings actions against producers, because the oversupply eats away at margins and the capacity to pay debt is eroding. But once current stocks are depleted, the shock will swing rapidly in the other direction, she said, and the expectation is that inflation ramps up as the year progresses."The inference we are making is that this will ultimately feed into consumer price inflation. Food, clothing, and other retail goods will hit those at the lower end of the income scale," Sheth said. Peter Swartz, chief science officer and co-founder of supply chain analytics company Altana, said that the market is now pricing in uncertainty and that the long-term effects will include price increases no matter what happens on the battlefield. "The long-term effect is here. Every business is now planning for a more uncertain future and investing in diversification, and that is cost-additive," Swartz said. There is a multiplier effect that follows a jolt to the petrochemical market like the one happening now, because petrochemical products go into tens of trillions of dollars of goods that then go into tens of trillions of other goods — all relying on the same petrochemical soup. "There is no magical easy substitution for these products," Swartz said. Altana data shows that raw feedstocks comprising $733 billion in petrochemicals, intermediates, and finished products combined — 22% of the world's total supply including ethylene, propylene, butadiene, benzene, toluene, xylenes, methanol, glycol, MTBE, epoxides, acetic acid, acrylic acid, PTA, acrylonitrile, and melamine  — flow through the Gulf. This has a downstream impact on $3.8 trillion in goods, from toothpaste to towels. Meanwhile, Krykun watches order volatility for his plastic packaging with alarm, and, at the very least, customers will notice less packaging but not less price. "We're seeing brands make very practical adjustments," he said. For example, a skincare brand may move from a more complex box structure to a simpler one. A phone accessories brand may reduce internal packaging components or redesign the structure to use less material. "Even for products like boxed chocolates, brands are simplifying internal layouts or overall construction to manage costs," Krykun said. But time is not on the producers' side. "Reducing packaging complexity or redesigning structures is not an immediate process — it often requires development work, testing, and approval cycles that can take weeks or months," Krykun said. In many cases, brands simply do not have enough time to fully redesign packaging before their next production run. As a result, they are often forced to place the next bulk order at higher prices while simultaneously working on alternative, more cost-efficient packaging solutions in parallel.  watch nowVIDEO4:5404:54Consumer health about the duration and size of energy shock, says Bank of America's David TinsleyThe Exchange Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Brittany Greene helps individuals build and repair their credit as head of community at Self Financial. She knows first hand what poor credit can cost you. View More

In 2017, Brittany Greene was on track to be promoted from an assistant to a business analyst position at her company, she says. She'd earned her master's degree in project management and shadowed with the team. But Greene didn't get the job — and says her poor credit history played a role. "I actually found out afterwards that I did not get [promoted] into that position because of my credit," she says. She was notified about the decision via email, she says. She then had a virtual meeting with a member of the team she would have joined, who confirmed her credit history affected the decision, she says. CNBC Make It was not able to independently confirm if Greene's credit history was a factor in her former employer's decision not to promote her.Greene's story is a reminder that for many Americans, having a good credit history matters for more than just the interest rates you can get on loans or whether you'll qualify to rent an apartment, says Cynthia Chen, co-founder and CEO at Kikoff, a fintech company that helps individuals build and repair their credit.About half of employers include credit reports in employee background checks for their U.S. locations, a 2021 survey from the Professional Background Screening Association found. Credit checks are especially common for hiring in financial services like brokerage firms and health-care services, Chen says."The impact of a person's credit score and also credit report goes far beyond financial services or even housing opportunities," Chen says. "It can actually impact your eligibility to be hired, to be promoted, and in some cases, if you want to work in a regulated industry, your ability to get licensed." Why employers may check your credit history Greene had a credit score in the 400s at the time she lost the promotion, she says. FICO credit scores, the ones most widely used by lenders, range from 300 to 850. Any score below 580 is considered poor, according to Experian, one of the three major credit bureaus."If you have anything that is below 550, employers will likely take a deeper look at your report to make sure that there's not any specific item that makes them hesitant about giving an offer," Chen says.Keep in mind that employers may not see your credit score if they check your credit history, says Courtney Alev, consumer financial advocate at Intuit Credit Karma. "They usually receive a modified version of your credit report rather than the three-digit score itself.""It's important to understand the difference, because a credit report contains information about your account history and payment behavior, while a credit score is a separate calculation based on that information," Alev adds.Greene says her low score was due to decisions she made before she had a better grasp on financial literacy. She first signed up for a credit card just to get free pizza in college, she says, and later had trouble keeping up with payments after racking up a balance. She says part of the reason she wanted the promotion was to make more money and get her finances back on track, including improving her credit."It was very frustrating, very gut-wrenching, because you do all of this hard work, you go to the lengths of getting your degrees, taking the interview prep, making sure your resume is on point," she says. It's also worth noting that the Fair Credit Reporting Act requires employers to get consent before they can pull credit reports on prospective or current employees and use that information in career decisions like hiring and promotions. As of April 18, 2026, a total of 11 states will ban the use of credit checks in employment decisions as New York joins 10 other states and several jurisdictions, including Philadelphia and Chicago, that prohibit the practice, with some exceptions.  How to start improving your credit Now, nearly 10 years later, Greene is the head of community at Self Financial, a financial technology company focused on helping individuals build and repair their credit. Getting to a good place with your credit isn't necessarily a "linear journey," she says. Here are three tips she offers to those looking to repair their credit or build it from scratch.1. Know where you standThe first step to building or improving your credit history is to know where you stand, Greene says. If you don't know your starting point, you won't know how to get better."I think that's the scariest part," she says. "A lot of people will take a step back and not look at it or avoid it as much as possible. But a good 50% of you wanting to improve your [score] is knowing where you are…taking that fear out of it."You can get a copy of your credit report for free once a week from all three credit reporting bureaus — Equifax, Experian and TransUnion — via annualcreditreport.com. Your credit card company or bank may also offer free credit score checks.Your credit report won't include your credit score, but it's smart to check it for inaccuracies or fraudulent accounts. If you notice an account you don't recognize or incorrect information about whether you're up to date on payments on an account, reach out to the credit bureau directly to dispute it, Chen says.2. Celebrate your small winsAs you're building or rebuilding your credit, it's important to celebrate your progress, even if it's relatively small, says Greene, who also has a Ph.D. in human behavior.From a psychological perspective, "You have to align yourself with the [credit] score that you say that you want," she says. "You have to connect yourself to that score that you want, or the habits of the person who would have that score."When you notch a small win like paying a bill on time or paying off a small debt, "you're automatically shifting your mental space," Greene says. On the flip side, she says not to beat yourself up if you miss a payment or "have to make some tough decisions."3. Use tools that work for youThere are a variety of tools you can use to build and improve your credit. Greene says finding "resources and tools that meet them where they are" is crucial for individuals trying to build good credit history.For some, secured cards — where consumers put down a security deposit that functions like a credit limit on a regular credit card — could be a useful option to build a credit history without the same eligibility requirements as unsecured credit cards, Chen says."Because secured cards typically have lower limits, they can also help people ease into using credit and build consistent payment habits over time," she says.Companies like Self, Kikoff and Boom offer rent reporting tools that renters can use to build or improve their credit with every monthly rent payment. Chen says this can be especially effective for folks who are "credit invisible" because they don't have a credit history yet.Want to improve your communication, confidence and success at work? Take CNBC's new online course, Master Your Body Language To Boost Your Influence. Take control of your money with CNBC Select CNBC Select is editorially independent and may earn a commission from affiliate partners on links.Six ways to file your taxes for free4 financial resources to tap when you think layoffs may be comingWhat is a good monthly retirement income in 2026?Here are 5 grocery rewards cards to beat inflation VIDEO9:0509:05How I bought a $575,000 duplex at age 27 by myselfMillennial Money

Travelers are weighing whether they'll fly later this year, considering higher airfares and airport chaos View More

Travelers wait in line at a Transportation Security Administration (TSA) checkpoint at George Bush Intercontinental Airport (IAH) in Houston, Texas, US, on Thursday, March 26, 2026. Mark Felix | Bloomberg | Getty Images TOKYO/NEW YORK — Genevieve Price considers herself a great flight hacker.The 35-year-old naturopathic doctor based in San Diego usually buys basic economy tickets when she visits her family in New Jersey and then uses her Alaska Airlines frequent flier status to pick a seat, something that's usually not allowed for those no-frills fares. "I like to travel a lot," Price told CNBC at New York's John F. Kennedy International Airport, where she was returning from Rome. But Price said she has her limits, and is planning to cap the spending she does on future flights, such as no more than $900 to Rome, where her partner is from.Consumers' willingness to fly is being put to the test this spring as soaring fuel prices are leading to higher airfares. Cathay Pacific, SAS, Finnair and others are among the carriers that have already raised fares.Travelers also have to contend with hourslong airport security lines in the U.S. because of the second government shutdown in half a year that's hitting the Transportation Security Administration, leaving many frustrated. Fuel and fares Fuel at major U.S. airports was going for $3.98 on Wednesday, up nearly 60% since before the U.S. and Israel attacked Iran on Feb. 28.The conflict has meant crisis for the aviation industry, particularly in the Middle East, where airspace closures have forced carriers to cancel flights and take longer and costlier routes.Airlines will brief investors starting early next month on the longer-term impacts, but they immediately started raising airfare or increasing fuel surcharges on tickets to help cover the rising costs.United Airlines CEO Scott Kirby told reporters at a company event in Los Angeles this week that airfare could go up 20% this year. Customers appear willing to keep booking even though carriers are passing those high fuel costs along to travelers, he added.Other airlines have also said demand has held up.Delta Air Lines CEO Ed Bastian told a JPMorgan industry conference earlier this month that demand has remained strong in recent weeks and that the airline is "well-positioned" to recapture the spike in fuel from its own sales.U.S. airlines have seen solid demand for years. International travel has been a strong point, particularly for high-end leisure travel, which has brought so many visitors that governments from Japan to Spain have taken steps to reduce overtourism, while locals have protested.But airline executives said they will prune flights if demand falls. "We're certainly going to be nimble in terms of capacity to make sure that supply and demand stay in balance," American Airlines CEO Robert Isom said at the JPMorgan conference.United, for its part, is preparing for fuel prices to remain elevated through next year and is cutting about 3 percentage points off of its capacity in off-peak travel times, like midweek and redeye flights, Kirby told employees this month. Fares up Some of the higher fares are already here.Fares for flights across the Atlantic from the U.S. were going for $1,059, with three weeks advanced purchase, up 26.5% from the prior week, according to a Deutche Bank note on Monday. Domestic routes, including transcontinental flights and flights to and from Hawaii, were also up, the report said.Mary Jean Erschen-Cooke, a nurse from Cuba City, Wisconsin, who was setting out earlier this month from Tokyo on a 10-day trip through Japan with her husband, Paul, said she has a host of domestic U.S. family trips this year."We haven't booked our flights, but we should," she said, adding that she and her husband would consider driving for one of them. She noted that gasoline prices are also up, which will affect driving. Security snarls The TSA PreCheck line at terminal B in LaGuardia Airport in East Elmhurst, Queens, New York City, on March 27, 2026. Leslie Josephs | CNBC Along with higher airfare, travelers are facing challenges at airports this spring.TSA officers have been working without regular pay since Feb. 14 because of an impasse in Congress over funding for the Department of Homeland Security. Nearly 500 TSA officers have quit, according to DHS and elevated call-outs have left airports short-staffed.That's led to long security lines at major airports around the U.S., including in Houston, New York, and Atlanta. Wait times have exceeded three hours in some locations — longer than some of the flights those airports offered — as lines have snaked through terminals and outside of airports. Elizabeth Leddy, a 38-year-old classical pianist based in New York, said she flies several times a year. The long security lines, which were running nearly 90 minutes at LaGuardia Airport for TSA PreCheck flyers on Friday, could be a deterrent for her doing that in the future. Leddy said that if the security line was three to four hours long, "I feel like I could just drive."DHS has blamed Democrats for the closure, which has become the longest partial shutdown in U.S. history. As of Friday afternoon, the Senate had passed a potential deal to end the shutdown, thought its fate was unclear.President Donald Trump separately said he would sign an order to get the more than 50,000 TSA officers paid. TSA officers will start getting paychecks as early as Monday, DHS said Friday.The Trump administration this week sent Immigration and Customs Enforcement officers to several U.S. airports, though DHS hasn't specified what their duties are. ICE officers, who also sit under the DHS umbrella, are still getting paid during the partial shutdown. watch nowVIDEO3:1203:12Trump deploys ICE agents to airportsPolitics ICE officers were seen at New York's LaGuardia Airport on Friday morning watching security lines. "Even if this manages to slightly reduce wait times (we're still reading about terrible wait times, so we're far from big improvement), ICE presence could cause some individuals to fear traveling and upset TSA workers not getting paid," Bernstein said in a note on Thursday. "Seems possible passenger throughput softens over the coming days and TSA screening YoY growth for this week turns slightly negative." Read more CNBC airline newsAirlines raise revenue guidance despite rising fuel costs, citing growth in demandUnited CEO Scott Kirby says higher airfare could be ahead after fuel price spikeIran war threatens $11.7 trillion global travel industry as passengers get caught in crossfireSpirit Airlines plans to slash flights, fleet in bid to emerge from bankruptcy as early as spring Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Palmer Luckey's Anduril, software AI company Palantir and Elon Musk's SpaceX are getting the lion's share of defense tech dollars from the Pentagon. View More

Guvendemir | E+ | Getty Images The Iran war is redefining modern combat for the U.S. and driving demand for lower-cost tech.It's the exact situation Defense Secretary Pete Hegseth warned against a few months ago."We cannot afford to shoot down cheap drones with $2 million missiles," Hegseth said in December. "And we ourselves must be able to field large quantities of capable attack drones."Two days into the war, the U.S. used up a reported $5.6 billion in munitions. Meanwhile, Iran has wreaked havoc on military bases, tourist centers and data centers used by America's largest tech giants with swarms of low-cost Shahed drones that cost between $20,000 and $50,000, according to public estimates.This is the moment defense tech and Silicon Valley have been waiting for. For years, defense tech has fought to prove itself in Washington and grab a chunk of the ballooning Pentagon budget snatched up by defense primes like Lockheed Martin, RTX and Northrop Grumman. The war, coupled with President Donald Trump's military reindustrialization efforts, could offer that long-awaited catalyst."The world is more dangerous," said Mike Brown, partner at Shield Capital. "Technologies that were on the drawing board a decade ago have now proven themselves on the battlefield." watch nowVIDEO13:1313:13Andreessen Horowitz General Partner David Ulevitch: AI, drones and defense tech are reshaping modern warfareAerospace & Defense Proving ground for drone tech The U.S. has deployed its own version of the Shahed in Iran called the Low-cost Uncrewed Combat Attack System, or LUCAS. The drone, built by Arizona-based SpektreWorks, costs about $35,000 per unit according to industry estimates.The Department of Defense is also reportedly in the market to buy more.Tara Murphy Dougherty, CEO of defense software startup Govini, said LUCAS is one of the only major new systems emerging in the Iran war, but production is modest. Most U.S. air capabilities in Iran have been with traditional fighter jets and bombers.In counter-drone tech, Aerovironment this week announced the Locust X3 laser system, which the company claims will cost under $5 a shot. Contractors Lockheed Martin, RTX and Leidos also offer solutions.Taser maker Axon entered the sector in 2024 with its Dedrone acquisition. Startups Anduril and Epirus are also scaling counter-drone warfare capabilities. Despite their real-world applications, these tools accounted for only $4.7 billion of the fiscal 2026 budget. That's according to data from Obviant, an intelligence startup that focuses on defense acquisition, contracting and budgeting data. "America was built on competition, so let's be competitive," said Brett Velicovich, co-founder of Powerus, a drone company backed by Trump's sons. "Let the companies that have the best technology win, because it's only beneficial to our country."Major defense tech winners so far include Oculus-creator Palmer Luckey's Anduril and software AI company Palantir. Both recently signed multibillion-dollar-ceiling contracts with the Pentagon.Palantir's tools are already deeply ingrained in the DOD, and CEO Alex Karp alluded to the fact that the U.S. and its Middle East allies are using the company's Maven platform.The sector has seen a surge in popularity in Silicon Valley, with deal value nearly doubling to $49.9 billion last year from $27.3 billion in 2024, according to Pitchbook data. Despite that excitement, spending on the sector accounted for less than 1% of contract dollars in 2025, according to data from the Ronald Reagan Presidential Foundation and Institute. Anduril, Palantir and Elon Musk's SpaceX account for 88% of that. Anduril flies its unmanned drone YFQ-44A for the first time at an unspecified location in California, Oct. 31, 2025, in this handout image.Anduril | Via Reuters Reindustrializing the military The push to advance the military's tech capabilities began well before the war in Iran, and Trump stepped up efforts to rebuild aging military systems early in his first term with a series of executive orders.Trump's signature $185 billion "Golden Dome" missile defense system will also provide new opportunities for startups, including shipbuilding and drone companies.Several defense tech startups CNBC spoke with for this story said demand has skyrocketed from DOD customers since the U.S. and Israel first struck Iran at the end of February. Many of those customers have offered to buy out capacity or asked firms to ramp production, the businesses said. "We've had very clear demand signals coming out of this administration and the Pentagon," said Ryan Tseng, president and co-founder of Shield AI, which hit a $12.7 billion valuation this week. "People are more ready than they ever have been."Gauging demand is a difficult task for any business, but particularly critical for firms reliant on venture funding to keep factories running. At the same time, the government hasn't offered a steady enough flow of contracts to rationalize scaling for some of these businesses.  That's leaving defense tech firms divided over whether to hike capacity to win deals and risk profitability, or hold off and potentially miss opportunities. John Tenet, CEO of radar and communications tech maker Chaos Industries, said his manufacturing team is building day and night to meet customer demand signals. The company recently raised $510 million at a $4.5 billion valuation."If you're waiting for the contract to scale production, you're already too late," he said.Many of these businesses are already operating at a faster clip than in previous years. One counter-drone startup, which asked not to be named due to the nature of the company's work with the government, told CNBC that this year it's on track to double the number of systems created since it first launched its tool.The startup said that all those systems have been sold to customers, and it would only increase capacity if given a contract by the U.S. government. That's the tricky part of working with the government.  Chaos Industries' Vanquish Prime radar system.Courtesy: Brett Cummings | Chaos Industries Demand appears insatiable, but some defense firms told CNBC that they want contracts before shelling out on new systems. That's even more critical for businesses building multi-million dollar tools with intricate supply chains.Businesses could stockpile to get ahead of demand, but rapid innovation could quickly outpace their tech. That's why focusing on a single product is a "very dangerous game," said Accel partner Ben Quazzo."If you wake up one day and that's obsolete, your business is in trouble," Quazzo said.The Pentagon plans to funnel billions over the next few years into defense technology, with Trump calling for a $1.5 trillion military budget in 2027. However, a budget managed by Congress with limited long-term visibility, coupled with a slow contracting process hindered by bureaucracy, creates some roadblocks."The Pentagon is the only company in the globe that is bound up by procurement and sales rules that somebody else is writing," said Morgan Plummer, vice president of policy design and delivery at Americans for Responsible Innovation.Even as tech companies ramp up production, experts said few of these tools are actually reaching battlefields abroad, and the production scale is far too low to cause a significant impact.Hegseth's acknowledgment of the drone-missile cost disparity came with a call for the industry to build 300,000 drones "quickly and inexpensively."The effort would deliver "hundreds of thousands of them by 2027," Hegseth said.Weeks after the first phase of the program started, the Iran war began. watch nowVIDEO5:2605:26'The phone is ringing off the hook' - Drone defense tech CEOEurope Early Edition Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Shares of Berkshire Hathaway have lost ground for eight consecutive days. It is their longest losing streak since December of 2018. View More

In this articleBRK.B.SPX8766.T-JP8001.T-JP8002.T-JP8058.T-JP8031.T-JP8053.T-JPBRK.AFollow your favorite stocksCREATE FREE ACCOUNT (This is the Warren Buffett Watch newsletter, news and analysis on all things Warren Buffett and Berkshire Hathaway. You can sign up here to receive it every Friday evening in your inbox.) Berkshire shares suffer longest losing streak in more than 7 years Shares of Berkshire Hathaway have lost ground for eight consecutive days.It is their longest losing streak since eight straight sessions of losses in December of 2018.The Class A shares are down 4.7% and the Class B shares have dropped 4.9% since their most recent daily gains on March 17.Berkshire is falling along with the overall market, which has been hit by rising energy prices and global uncertainty from the Iran war.While the S&P 500 index has not seen a string of daily losses, it is down 5.2% over the same period. Zoom In IconArrows pointing outwards Berkshire's year-to-date losses are close to the S&P's 7% drop. The benchmark index is on a five-week losing streak.  Zoom In IconArrows pointing outwards Berkshire's stock prices are down more than 13% since Warren Buffett announced at last year's shareholders meeting that he would be stepping down as CEO at the of 2025.They are roughly 2% above their August lows but have fallen below two more recent lows in early November and late January. Zoom In IconArrows pointing outwards Berkshire's new Japanese investment soars in value Berkshire Hathaway's newest investment in Japan is off to a strong start.Shares of Tokio Marine Holdings soared more than 24% this week after Monday's announcement that Berkshire's National Indemnity is paying $1.8 billion for a stake of almost 2.5% in Japan's oldest insurance company, which Barron's calls "one of the world's best-run property and casualty insurers."Today, Berkshire's new purchase has a market value of almost $2.3 billion.  Zoom In IconArrows pointing outwards The two companies will also collaborate in reinsurance and look for strategic investments around the world.In a Tokio Marine news release, the company said Berkshire's corporate culture and values "closely align with those of our own."It added, "Importantly, this is not merely a business alliance. We believe that it establishes a long-term strategic relationship anchored by an equity stake that will serve as a powerful catalyst for the medium- to long-term growth of both companies." Ajit Jain speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025.CNBC Berkshire's insurance chief Ajit Jain is quoted as saying, "We expect this Strategic Partnership to create compelling long-term opportunities for both organizations."Barron's reports Jain oversaw the investment "and likely involved former CEO Warren Buffett, now serving as chairman of the board.""The deal shows Berkshire's ability to strike insurance deals is undiminished even as Buffett has given up the CEO job in favor of Greg Abel. That's a good sign for Berkshire given the importance of insurance to the $1 trillion market value company." Tokio Marine Tokio Marine issued new shares for Berkshire to purchase. It plans to buy back an equal amount of its already-issued stock to prevent dilution for existing shareholders.Berkshire will be allowed to increase its stake to just under 10% through open-market purchases. It would need approval from Tokio Marine's board to go higher.Insurance Business notes Tokio Marine has spent more than $17 billion over the past two decades for acquisitions in the U.S., including Philadelphia Insurance Companies and Delphi Insurance Group. It expects the new partnership "could accelerate that trajectory through Berkshire's deal-sourcing reach and reinsurance capacity." Zoom In IconArrows pointing outwards Berkshire is presumably hoping to repeat the enormous success of its investments in five Japanese trading houses: Itochu, Marubeni, Mitsubishi (all-time closing high Friday), Mitsui, and Sumitomo.The company had already been building its positions for twelve months when Buffett initially revealed the stakes in August 2020. It's been adding to the positions since then.In just the last 52 weeks, they are up between 42% and 124%, with a total market value of more than $44 billion. BUFFETT & BERKSHIRE AROUND THE INTERNET Some links may require a subscription:Wall Street Journal on MSN: The corporate breakup specialist who stopped the split of Kraft HeinzReuters: Exclusive: Occidental's Hollub, US oil's most powerful woman, prepares to hand over reins, sources sayCNBC Pro (subscription): Berkshire Hathaway resumed buybacks. But the shares aren't particularly cheapBarron's on MSN: He was Warren Buffett's protégé. Now he's running money for Jamie Dimon.World-Grain.com: Rail merger 'not good for our industry,' says BNSF CEOFortune on MSN: Kalshi takes a page from Warren Buffett's March Madness playbook by offering $1 billion for a perfect bracket BERKSHIRE STOCK WATCH Four weeks Zoom In IconArrows pointing outwards 12 months Zoom In IconArrows pointing outwards BRK.A stock price: $703,700.00BRK.B stock price: $468.49BRK.B P/E (TTM): 15.09Berkshire market capitalization: $1,010,965,573,250Berkshire Cash as of December 31: $373.3 billion (Down 2.2% from Sept. 30)Excluding Rail Cash and Subtracting T-Bills Payable: $369.0 billion (Up 4.1% from September 30)Berkshire resumed stock repurchases on March 4, 2026.(All figures are as of the date of publication, unless otherwise indicated) BERKSHIRE'S TOP EQUITY HOLDINGS - Mar. 27, 2026 Zoom In IconArrows pointing outwards Berkshire's top holdings of disclosed publicly traded stocks in the U.S. and Japan, by market value, based on the latest closing prices.Holdings are as of September 30, 2025, as reported in Berkshire Hathaway's 13F filing on November 14, 2025, except for:Mitsubishi, which is as of August 28, 2025Mitsui, which is as of September 30, 2025The full list of holdings and current market values is available from CNBC.com's Berkshire Hathaway Portfolio Tracker. QUESTIONS OR COMMENTS Please send any questions or comments about the newsletter to me at alex.crippen@nbcuni.com. (Sorry, but we don't forward questions or comments to Buffett himself.)If you aren't already subscribed to this newsletter, you can sign up here.Also, Buffett's annual letters to shareholders are highly recommended reading. There are collected here on Berkshire's website.-- Alex Crippen, Editor, Warren Buffett Watch Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

China and Russia have a big lead in efforts to control once impenetrable Arctic waters. The U.S. is spending billions on new icebreakers in a race to catch up. View More

watch nowVIDEO12:0012:00How the U.S. fell behind in polar icebreakers and its plan to catch upTransportation Infrastructure The once-impenetrable Arctic waters have become the latest battleground for sea dominance among military and maritime vessels, as increased activity by both the Chinese and Russian Coast Guard and naval ships in recent months has raised concern in the U.S.The Northwest Passage, a sea route extending north of Canada that connects the Arctic Ocean to the North Atlantic, can save approximately 4,500 nautical miles in transit time. That can cut a vessel's trip from the Far East to Europe, and from Russia to Europe, in half, saving both time and money on bunker fuel. Warmer temperatures have extended the travel season for vessels traversing this waterway, with frozen routes carved out by polar icebreakers, and Russian and Chinese icebreakers dominating the region.More than 1,800 ships traveled on the Arctic polar waterway in 2025, a 40 percent increase from 2013. In 2025, China completed 14 voyages, including a Cosco containership, the first containership to make a journey through the waterway."From an economic and commercial standpoint, it makes sense for shippers to be interested in the development in that region to save time," said Aaron Roth, principal and head of federal strategy and security at the Chertoff Group.Russia has a fleet of 45 icebreakers in the polar region, including eight nuclear-powered vessels. China has three, with a nuclear-powered polar icebreaker reportedly under construction. The U.S. currently has three icebreakers, but one of them is 50 years old. People attend the float out ceremony of the nuclear-powered ice-breaker Yakutia at the Baltic shipyard in Saint Petersburg, Russia on November 22, 2020.Olga Maltseva | Afp | Getty Images "The reason that we have fallen so far behind in the race to the Arctic or for the icebreakers is basically funding the United States Coast Guard," said Lou Sola, former Federal Maritime Commission Chairman and partner at lobbying firm Thorn Run Partners. "The Coast Guard has been plagued by maintenance issues and is trying to get proper supplies. They've been resorting to cannibalizing one ship to use its parts on another so they can have an operational ship. As a result, overall shipbuilding has really taken a toll. Especially the icebreakers," he said.President Donald Trump has increased focus on domestic shipbuilding initiatives, including polar icebreakers. But Trump is not alone with his concerns about the Arctic activity, with NATO's European commander citing the growing presence of Russia and China in the Arctic as a threat.Maritime officials say the increased Arctic activity is a national security issue and stress that the U.S is considered an Arctic nation."These Arctic security cutters that the Coast Guard's building will provide the sovereignty, the freedom of navigation, and capability and capacity in that region that we currently do not have," Roth said. "We certainly don't want them to gain advantages in locations in the high north," he added.The concerns overlap with other of Trump's national security ambitions. In early 2026, Trump declared he wanted Greenland for national security.The two Arctic routes a vessel can take pass near Greenland. The Northwest Passage connects the Atlantic and Pacific oceans through the Canadian Arctic into the Baffin Sea, bringing vessels close to Greenland, then south of Greenland in the North Atlantic to the United Kingdom.The Northeast Passage connects Europe and Asia along the northern shores of Russia. This route also has vessels travelling close to Greenland."I think it'll be in our interest over time to ensure that our relationship with the Canadians, Greenland, Denmark and northern Europe remain strong, so that we can protect our interest in that region as well," Roth said. China and Russia grow closer in Arctic effortsThe lack of funding comes at a time when the Chinese and Russian Coast Guards are tightening their relationship. China's recent trade agreements with Canada are a related concern for the U.S. "There's certainly geopolitics at play," Roth said. Russia's access to the region is also of vital importance to the U.S."One of the things most important to highlight about those trade routes north of Canada is it's the closest distance for Russia to travel strategically and militarily," Roth said. "The shortest distance between Russia and the United States is through that pass. It takes you to Greenland, down to the United Kingdom. So strategically, it's incredibly valuable for the United States from a surveillance standpoint to understand what's going on in that region," he said.China and Russia's Arctic alignment began with the signing of a memorandum of understanding in April 2023, with the two countries' Coast Guards working in tandem to carve out a trade route. Last October, Russia and China signed another far-reaching agreement to jointly develop the Arctic passage that China calls the Polar Silk Road."In the future, if we were to get into a conflict with Russia or China or even North Korea, the shortest distance from those countries to the United States is through that great circle route over Greenland into the United States," Roth said. "So clearly, the surveillance needs and the ability to intercept those missiles is crucial. This is fundamentally protecting the United States, and the Golden Dome, the president is trying to do."How Trump and the U.S. plan to bring shipbuilding backPresident Trump announced the 2025 shipbuilding initiative for commercial vessels and polar icebreakers. A second executive order, the Maritime Action Plan, doubled down on the administration's ambitions to revitalize the U.S. maritime industry, boost capacity, and counter Chinese dominance. Roughly $30 billion was allocated. Out of that money, 11 new Arctic security cutters are to be built.The medium-sized icebreakers that make the waterways accessible in the Great Lakes and along the coastal waters of the Northeast and Mid-Atlantic U.S., from Maine to Virginia, including the Chesapeake Bay and Delaware Bay during the winter, are also at the end of their service life. The U.S. Coast Guard recently announced a new program to acquire 11 medium-sized icebreakers. One of the companies building some of these vessels is Canadian-based Davie Defense, which closed its acquisition of Gulf Cooper's shipbuilding assets in Texas last December. The new U.S. company is one of four companies in the recent shipbuilding contracts. Bollinger Shipyards, based in Louisiana, along with Finland-based Rauma Marine Constructions and Aker Arctic Technologies, are also involved in the shipbuilding program.Davie Defense Gulf Copper will build a total of five polar icebreakers for the U.S. The first two will be built in Finland while the company spends between $700 million to $1 billion to renovate the shipyards in the ports of Galveston and Port Arthur, Texas. The shipyards have been in operation since World War II, when they built ships."The infrastructure itself is a bit tired, a bit worn down," said Kai Skvarla, CEO of Davie Defense and Gulf Copper. Planned upgrades to the facilities and physical infrastructure include automated cutting and welding machines to increase efficiency, as well as efforts to support the productivity of the future workforce and to manufacture cost-competitive products. The renovation is expected to take approximately two years.Skvarla said the reopening of the Texas plants should coincide with the delivery of the first two polar icebreakers the company will build in Helsinki, Finland. The third polar icebreaker made in Texas will enter production in 2028 and take 48 months to build (to be delivered in 2032). Delivery on subsequent vessels from Texas would be in 2033 and 2034.To meet the ambitious deadline, the company plans to substantially increase U.S. staffing from its current 300 employees, adding over 2,000 more employees. Once American workers are hired, they will be enrolled in an apprenticeship program that sends them to Finland to learn and work alongside Finnish shipbuilders in Helsinki. This job training is similar to the workforce strategy for Hanwha Philly Shipyard, another key player in efforts to bring shipbuilding back to the U.S. Hanwha Philly has an apprenticeship shipbuilding program that sends employees to South Korea to work at the parent company's Hanwha Shipping shipyards, where one vessel is built per week. Watch the video above to learn more about the intensifying battle for control of Arctic waterways. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

In the last decade Paramount and Warner Bros. have each released eight animated features, meanwhile Disney has released 21 and Universal has launched 23. View More

In this articleDISPSKYWBDFollow your favorite stocksCREATE FREE ACCOUNT Source: Warner Bros. | Paramount When Paramount Skydance combines with the Warner Bros. film studio, it'll have a deep bench of marquee franchises and established prestige. What the powerhouse duo will be missing is an animated film slate that could rival Hollywood giants like Disney and Universal. The combined entity, which is still awaiting regulatory approval, has a stacked slate of tentpoles including DC superhero fare, a Minecraft sequel, another Sonic the Hedgehog film and new entrants from The Lord of the Rings universe. Not to mention, Warner Bros. just tied the record for the most Academy Award wins for a single studio earlier this month.But it's been kid-friendly animated content that is increasingly driving families to the theater — and neither studio has excelled in this area in the last decade.Since 2016, Paramount and Warner Bros. have each released eight animated features on the big screen, with Paramount generating $1.1 billion in total global ticket sales from the category and Warner Bros. tallying $1.3 billion, according to data from Comscore.During that time, only one Paramount animated film has generated more than $200 million globally — 2023's "Paw Patrol: The Mighty Movie" — and only one Warner Bros. animated title has scored more than $300 million globally — 2017's "Lego Batman." For comparison, in the last decade Disney released 21 theatrical animated features, collecting $14.1 billion from the films; Universal released 23 animated movies to the tune of $10.7 billion; and Sony released 16, bringing in $4.6 billion in ticket sales. Disney has seen seven animated features generate more than $1 billion globally during that time, and Universal has seen two. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); These figures do not include live-action films with animated elements like Paramount's Sonic franchise, Universal's "Gabby's Dollhouse," or Disney's "Mufasa: The Lion King," which the studio considers a live-action film. They also don't include animated films released to streaming during the pandemic that were later brought to theaters like Disney's "Soul," "Luca" and "Turning Red.""When the moviegoing world is operating at or near peak efficiency, it's virtually always because of a diverse release slate that includes one or more movies catering heavily to kids and families," said Shawn Robbins, director of analytics at Fandango and founder of Box Office Theory. "Animation, in most cases, directly serves that audience while providing an anchor for studios and cinema owners to rely on."Together, Paramount and Warner Bros. accounted for 27% of the domestic box office in 2025, just shy of the 28% market share held by Disney. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); "As Paramount and Warner Bros. merge, it becomes even more essential for their combined resources to be strategically directed toward developing a robust animated film portfolio," said Paul Dergarabedian, head of marketplace trends at Comscore."Animated film releases are crucial for any movie studio, requiring a well-thought-out strategy whether the projects are original works, extensions of existing intellectual property, or reboots of beloved legacy franchises," he added. In the last two years, family-friendly fare with a PG rating has won at the box office, outperforming PG-13 and R rated films, Comscore data shows."This rating is significant because it allows these films to attract a broader audience, making them true four-quadrant releases with the highest box office potential of almost any genre in today's movie marketplace," Dergarabedian said.Additionally, animated features are not usually front-loaded at the box office, Robbins noted, meaning they steadily generate ticket sales over the course of their run in theaters, gaining word of mouth. A typical Hollywood film will see a 50% to 70% drop in sales from opening weekend to the second weekend after the rush to the theater fades. Animated features don't always experience the same cliff.For Disney's "Hoppers," for example, the opening week dropoff was less than 37%, and the second week drop was less than 38%. "Not all animated releases are as successful as others, but they can be incredibly valuable with their potential for long-tail grosses alongside ancillary revenues via merchandising, down-window rentals and purchases, and other non-theatrical financial opportunities," Robbins added.Working in Paramount's and Warner Bros.'s favor: They already have lucrative animated IP. The combined library features SpongeBob SquarePants, Smurfs, Paw Patrol, Teenage Mutant Ninja Turtles and DC superheroes.Disney and Universal have been successful in the last decade balancing new titles with sequels. For Disney, it has introduced stories like "Coco," "Zootopia" and "Encanto" alongside "Frozen II," "Toy Story 4" and "Inside Out 2." At Universal, it's had newcomers like "Sing," "The Secret Life of Pets" and "Migration" arrive at the box office and returning favorites like "Kung Fu Panda 4," "Despicable Me 4" and "The Bad Guys 2.""It will be important for a freshly minted Paramount/WBD combo to not only expand on these brands but also to develop new animated properties to have the best shot at capturing their share of the massive potential box office for this extremely popular and competitive category of film," Dergarabedian said.Disclosure: Versant is the parent company of CNBC and Fandango. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.