BUSINESS DIGEST 100124

Some progress in port, dockworker talks

NEW YORK — The union for 45,000 dockworkers and the group representing East and Gulf Coast ports have exchanged wage offers, leaving a ray of hope that a deal can be reached without a major work stoppage. The International Longshoremen's Association is threatening to strike at 12:01 a.m. Tuesday in a move that could silence ports that handle about half the ship cargo coming in and going out of the U.S. towards a contract agreement. A lengthy shutdown could raise prices on goods around the country and potentially cause shortages and price increases at retailers as the holiday shopping season approaches.

Satellite service DirecTV buys Dish

DirecTV is buying Dish and Sling to better compete against streaming services that have become dominant. DirecTV said Monday that it will acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that includes a payment of $1, plus the assumption of debt. The two almost merged more than two decades ago — but the Federal Communications Commission blocked their owners' $18.5 billion deal, citing antitrust concerns.

Shrimp farmers being exploited

BANGKOK — An investigation focused on three of the world's largest shrimp producers claims that as big Western supermarkets make windfall profits, their aggressive pursuit of ever-lower wholesale prices is causing misery for people on the bottom end of the supply chain. The regional analysis of the industry in Vietnam, Indonesia and India found a 20%-60% drop in earnings from pre-pandemic levels as producers struggle to meet pricing demands by cutting labor costs. In many places this has meant unpaid and underpaid work. Vietnam, Indonesia and India provide about half the shrimp in the world's top four markets.

Epic Games sues Google, Samsung

LOS ANGELES — Video game maker Epic Games has sued Google and Samsung. It accuses the tech companies of coordinating to block third-party competition in application distribution on Samsung devices. At issue is Samsung's "Auto Blocker" feature, which only allows for apps from authorized sources, such as the Galaxy Store or Play Store, to be installed. The feature is turned on by default but can be changed in a phone's settings.

Mayor to leave office to run betting agency

BUFFALO, N.Y. — Buffalo's longest-serving mayor says he will leave office early to lead an offtrack betting agency. Byron Brown was offered the position of president and chief executive of the Western Regional Off-Track Betting Corp. and announced late Monday that he will accept it. The 66-year-old Democrat will be paid an annual salary of $295,000 to oversee operations at betting sites in several counties in New York and Batavia Downs, which offers live harness horse racing. As mayor, he is paid $178,500 a year. Board president of Western Regional Off-Track Betting says it's hoped that Brown will raise the agency's profile in Albany. Before becoming mayor in 2005, Brown was a state senator.