Afternoon Coffee: Port of Oakland Proposes New Fee for Cargo Owners, US Manufacturing Activity Falls to 2013 Levels

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The Port of Oakland wants cargo owners to pay an extra fee to have their containers moved during peak hours – a plan companies using the port to import and export goods are not too happy about. Federal regulators are reviewing the possible charges, but port authorities say it is necessary to reduce congestion and pay for Saturday service at container terminals.

US manufacturing activity has fallen to a level not seen since October 2013. The Purchasing Manager’s Index flash came in at 52.9 this month, below the 53.8 economists had expected.

Boeing and one of its suppliers are struggling to produce a key part of of the plane maker's 737 airliner. Industry officials say they are concerned Boeing will not be able to keep up with demand for its 737 plane and the company won’t be able to boost its monthly output as it hoped.

Uber plans to make as much as $2 billion from rides this year, 10 times more than it made in 2013. The ride service also plans to invest $1 billion in China and India each to grow its business in those countries.

 

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