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The Indian cement industry is on track to reach 5.09 billion tonnes by 2028-29, driven by robust government investment in infrastructure. According to an IANS report originally attributed to Infomerics Ratings, this marks a compound annual growth rate (CAGR) of 4.9 per cent between 2024 and 2029. In 2022-23, the industry’s market size stood at 3.82 billion tonnes, with a total installed capacity of 622 million tonnes per annum (MTPA) in FY24 and production at 427 million tonnes. Notably, India contributes over 8 per cent to the world’s total installed cement capacity, highlighting its importance in the global market. Despite this, India’s per capita cement consumption is 260 kg—significantly below the global average of 540 kg—indicating substantial room for growth. Globally, the cement market is projected to grow at a CAGR of 4.3 per cent from 2024 to 2032. The sector’s expansion is fuelled by ambitious government initiatives, including an allocation of ₹11.11 lakh crore for infrastructure in FY25 and housing schemes like Pradhan Mantri Awas Yojana. The construction sector consumes 55 per cent of cement production, while public infrastructure projects account for the remainder. The industry also plays a critical role in employment, providing direct jobs to over one million people and creating downstream opportunities for about 20,000 individuals per million tonnes of cement produced. Private players dominate the sector, controlling 98 per cent of production capacity, while public sector units hold a mere 2 per cent. Domestic production meets almost all demand, with imports accounting for just 0.2 per cent of total production in FY23. However, exports have declined recently due to reduced global demand and rising competition. India currently has 341 cement manufacturing facilities, including 159 integrated large cement plants, 120 grinding units, and 62 mini cement plants. Cement production has seen steady growth, with a 7.1 per cent increase in September 2024 and a cumulative growth of 1.6 per cent between April and September of FY25, according to the Ministry of Commerce and Industry. This growth aligns with India’s overall industrial performance, which saw a 2 per cent rise in core industries in September, led by cement, steel, coal, and fertilisers. As India invests heavily in infrastructure and housing, the cement industry is set to play a pivotal role in supporting the nation’s economic and developmental goals. (with IANS inputs)

India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

<ul><li><keyword id="19912297" type="General" weightage="20" keywordseo="NVIDIA" source="keywords" meta.keywordsubtype="org" meta.entityname="NVIDIA" meta.hostid="261" meta.entityid="NVIDIA">NVIDIA</keyword> and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> have partnered to build AI computing infrastructure.</li><li>NVIDIA will also supply the latest Blackwell AI chip for Reliance Industries’ new data centre.</li><li>The partnership was announced at the NVIDIA AI Summit India.</li></ul> <keyword id="16173150" type="General" weightage="20" keywordseo="NVIDIA-CEO-Jensen-Huang" source="Orion">NVIDIA CEO Jensen Huang</keyword> at the NVIDIA AI Summit India announced a partnership with Mukesh Ambani-led Reliance Industries to an artificial intelligence (AI) computing infrastructure and an innovation centre in India. As part of the partnership between the two companies, Reliance Industries will use the latest Nvidia Blackwell AI chip for its new major data centre. The company will use NVIDIA's cutting-edge technology, including the GB200 GPUs. The two companies are aiming to accelerate India's transformation into a global AI powerhouse with the partnership, banking on the nation's talent pool and growing digital infrastructure. "India is already world-class in designing chips, Nvidia's are designed here in Bengaluru, Hyderabad, Pune. A third of Nvidia is Indian, maybe more," Huang said. While praising the country’s rapid digitalisation in recent years and talking about the country’s potential in the AI sector, Huang said, “Very few countries have this amazing natural resource called IT and computer science expertise.” "We are at the doorsteps of the new intelligence age. India will be one of the biggest intelligence markets. It's not just our aspiration, but also the raw gene power which will help drive intelligence,” said Reliance Industries chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>. "India will not just deliver CEOs to world, but also AI services. Like we did with data, in few years from now we can surprise the world with what Indians can achieve in intelligence," Ambani added. Ambani revealed the company’s plans to establish a scalable infrastructure capable of expanding beyond 1 gigawatt, powered by green energy. "We are building this so we can scale, and we think big," he said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/deepak-builders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114533208.cms">Deepak Builders IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/synology-introduces-new-enterprise-solutions-reports-significant-growth-in-india/articleshow/114504353.cms">Synology introduces new enterprise solutions, reports significant growth in India</a> <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a>

NVIDIA and Reliance Industries to build AI computing infrastructure in India

<keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>'s <keyword id="20479923" type="General" weightage="100" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="261" meta.entityid="Reliance Group">Reliance Group</keyword> has launched the <keyword id="24017314" type="General" weightage="20" keywordseo="Reliance-Group-Corporate-Centre" source="keywords">Reliance Group Corporate Centre</keyword> (RGCC) as part of its <keyword id="24017313" type="General" weightage="20" keywordseo="2030-growth-strategy" source="keywords">2030 growth strategy</keyword>. "The RGCC will serve as a strategic hub, providing guidance to the Group's companies as they pursue new opportunities and technological advancements," the firm said in a statement. The core team of RGCC will include experienced leaders of the Group -- Sateesh Seth, Punit Garg, and K Raja Gopal. Garg currently leads as CEO of <keyword id="20144587" type="General" weightage="20" keywordseo="Reliance-Infrastructure" source="keywords">Reliance Infrastructure</keyword>, while K Raja Gopal has been at the helm of Reliance Power for six years. He has over 27 years experience in the power sector. Other leaders from the Group companies will also be invited to the RGCC. "The establishment of RGCC aims to harness the in-house expertise of these seasoned leaders to support the Group's forward-looking growth initiatives and cultivate a new generation of leadership for future project," the statement said. The RGCC will play a pivotal role in mentoring and developing emerging leaders, blending experience with fresh talent to propel the Group towards sustained growth. A Reliance Group spokesperson highlighted, "We are thrilled to introduce RGCC, a team of seasoned professionals with a broad spectrum expertise. This strategic move aims to steer the Group's future growth by tapping into the vast experience of these leaders, will help navigate industry challenges and capitalise on new opportunities, drive innovation, and deliver exceptional value to our customers and stakeholders. We believe RGCC will be instrumental in shaping the next phase of our Group's success." In recent developments, Reliance Infrastructure Ltd and Reliance Power Ltd, key entities under the Reliance Group, have achieved zero bank debt status and outlined plans for expansion into new growth areas. Reliance Power has secured 1,270 MW of renewable power projects in Bhutan, while Reliance Infrastructure, through its subsidiary Reliance Defence Ltd, is setting up a manufacturing facility for small arms, ammunition, and explosives in Ratnagiri, Maharashtra, spanning 1,000 acres. "To support these ambitious expansion plans, the companies have announced a combined fundraising effort of Rs 17,600 crore. This includes Rs 4,500 crore via preferential equity issues, Rs 7,100 crore from Varde Partners through equity-linked long-term FCCBs, and Rs 6,000 crore via Qualified Institutional Placement (QIP), with Reliance Power and Reliance Infrastructure each targeting Rs 3,000 crore," it added.

Anil Ambani's Reliance Group sets up centre to helm 2030 growth strategy

The IPO-Afcons Infrastructure Ltd, a <keyword id="20474756" type="General" weightage="20" keywordseo="Shapoorji-Pallonji" source="keywords">Shapoorji Pallonji</keyword> group firm, has announced a price band of Rs 440-463 per share for its issue worth Rs 5,430 crore. The issue, which is set to open on October 25, 2024, will continue till October 29, 2024. Notably, the <keyword id="23453516" type="General" weightage="100" keywordseo="Afcons-IPO" source="keywords">Afcons IPO</keyword> will be a mix of a fresh issue worth Rs 1,250 crore and an OFS (offer for sale) worth Rs 4,180 crore. Investors can bid for a minimum of 1 lot, which consists of 32 shares, meaning investors will be required to invest at least Rs 14,816. Last week, in a pre-IPO placement, Afcons Infrastructure raised Rs 2,967 crore from the company’s management and various institutional investors, like GIC Singapore, Enam Holdings (Akash Bhanshali), Synergy Capital, 360 One, White Oak, and more. Afcons will reportedly use around Rs 80 crore from IPO proceeds to fund <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> and purchase construction equipment, another Rs 320 crore to support long-term working capital requirements, and Rs 600 crore for prepaying portions of certain outstanding loans. The company operates across five major infrastructure business verticals, namely marine and industrial, surface transport, urban infrastructure, hydro and underground, as well as oil and gas. As of September 30, 2024, the company boasted of an <keyword id="20162999" type="General" weightage="20" keywordseo="order-book" source="keywords">order book</keyword> worth over Rs 40,000 crore. Stock analyst Dilip Dawda recommends subscribing to the IPO. The company is the flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji Group. It is a well-diversified <keyword id="21485219" type="General" weightage="20" keywordseo="infrastructure-company" source="keywords">infrastructure company</keyword>, having an average 30% export revenue. The company posted steady growth in its top and bottom lines for the reported periods. Based on FY25 annualized earnings and FY24 earnings, the issue appears fully priced. Investors may park funds for the medium to long term in this dividend-paying company," he continues. As of October 21, 2024, the company's <keyword id="19931032" type="General" weightage="20" keywordseo="GMP" source="keywords">GMP</keyword> (grey market premium) was trading at Rs 88, taking its estimated listing price to Rs 551. This means an expected listing gain of 19.01% per share. The company has reported a steady rise in its revenue from operations over the past 2 years, from Rs 1,10,189.66 million in FY22 to Rs 1,26,373.82 million in FY23 and Rs 1,32,674.95 for FY24. As of June 30th, 2024, the company's operational income stood at Rs 31,543.60 million. Correspondingly, there has also been a rise in its PAT (profit after taxes), from Rs 3,576.05 million in FY22 to Rs 4,497.38 million in FY24. The company's PAT was Rs915.86 as of June 30th, 2024. However, it must be noted that Afcons relies heavily on projects they contract through the government. As of June 30, 2024, projects awarded by the central or state government and government-owned enterprises made up around 69.80% of the Afcons order book. Multilateral projects, i.e., projects funded by the Indian government in other countries, constituted another 20.07%, while private projects contributed around 10.13% to its order book. Also, the company depends heavily on its top 10 customers, with the total order book value attributable to them as of June 30, 2024, standing at Rs 2,03,379.45 million, or around 64.06%.

Afcons Infra fixes IPO price at Rs 440-Rs 463 per share, issue to open on October 25

The <keyword id="1370377" type="General" weightage="20" keywordseo="BPM-industry" source="Orion">BPM industry</keyword> in India is at the cusp of a transformation and the demand for AI-enabled talent is set to surge, redefining workforce needs across the sector. “My spectrum tells me, in the next 3-5 years, there’s going to be an uptick in AI-enabled workers till the time that models stabilise,” said Nitasha Atreya, the Head of Transformation, Digital Operations and Platforms at Wipro, during a panel discussion on “AI-Ready <keyword id="20041791" type="General" weightage="20" keywordseo="bpm" source="keywords">BPM</keyword> Industry in India,” hosted by Business Insider India. While AI has the potential to streamline many business processes, industry experts caution against relying solely on AI. Human intervention is still required, which means skilling new talent and upskilling existing talent is vital to leveraging AI effectively. Investing in these areas allows organisations to better meet evolving demands with a workforce that complements AI-driven solutions. <div type="Youtube" id="3ewvUSYfG1M" title="Al-Ready BPM Industry In India" thumbUrl="https://i.ytimg.com/vi/3ewvUSYfG1M/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=3ewvUSYfG1M]]></url></div> <h2>Why human intervention is critical</h2>As the demand for AI and generative AI models is rising among BPM clients, particularly for model-building capabilities, so is the demand for AI-skilled workers. “For us to have the right intervention for human-in-the-loop processes, it’s essential that we develop an AI-enabled workforce,” Mythily Ramesh, Co-Founder and Director of NextWealth told Business Insider. Ramesh shared industry projections that estimate AI could create up to 100 million jobs globally. AI models generate predictions based on historical data and probabilities, but human oversight is essential to ensure accuracy and minimise errors. “AI as an enabler or augmenting the human workforce is probably the way this industry is going to progress. With the risks that are associated with completely leaving AI to replace humans – it’s just not going to work,” explained <keyword id="23987938" type="General" weightage="20" keywordseo="sundar-hariharan" source="keywords">Sundar Hariharan</keyword>, Vice President of Digital Business Experience Centre at Alorica IQ. <h2>Shaping the future of AI And BPMs with collaborative intelligence</h2>The panellists emphasised a significant challenge in AI model development: only 1 in every 100 models actually makes it to deployment. For all of these models, a rigorous process of training and fine-tuning is required, using either synthetic or human-generated data. This process is not just about feeding the model data but also validating the output to ensure it functions as intended. “There’s a lot of requirements for data training and validation,” said Ramesh, highlighting the substantial demand for data annotators, labelers, and specialists in areas like image and video annotation. These roles are crucial for ensuring that the data used to train models is of high quality and accurately reflects the task at hand. However, the skills required for these roles go beyond traditional data labelling. The workforce must move away from rigid Standard Operating Procedures (SOPs) and understand the context in which data is being used. This requires employees to make judgement calls that help refine the model’s performance, adapting to continuously evolving instruction sets. "It’s collaborative intelligence—human intelligence combined with artificial intelligence," Ramesh noted. To address this evolving demand for skills, companies like Wipro have implemented comprehensive upskilling programs. These programs are tailored to different business segments, from basic AI awareness (AI 101) to advanced training for developers, engineers, and architects—those working directly on the models. Atreya shared that over 10,000 developers and engineers at Wipro are currently receiving training across these programs. <h2>AI’s role in transforming BPM operations</h2>According to Suhrid Brahma, the Chief Technology Officer at WNS Global Systems, the core model of the BPM industry is changing. “There is a shift from focus on people, to outcomes and value-add as an industry,” he said. He outlines a three-part strategy for the upgrades needed in AI-driven BPM, beginning with AI in operations. By building an AI-skilled workforce and maintaining a ‘human in the loop’ approach, organisations can maximise the value of AI while keeping essential human oversight. The second area is AI for applications and platforms. Each BPM deal has a technological component, which varies from client to client, but AI should be woven directly into these enterprise systems to ensure seamless functionality. Lastly, he highlights AI’s evolving role in analytics, shifting from retrospective analysis to providing predictive insights that drive proactive decision-making across the organisation. “This whole industry will grow for sure. But the nature of work we do, the kind of value-add we do for clients and the kind of outcomes we deliver as an industry, will definitely change,” Brahma noted. <h2>Navigating an evolving AI landscape in BPM</h2>As AI continues to reshape BPM, the nature of customer needs is also changing. With AI, businesses now have the potential to drive end-to-end process automation, where one part of the process is handled by the BPM organisation and the other by the client, fostering a more collaborative approach to AI adoption. Hariharan noted that BPM providers are transitioning into more tech-driven organisations, as AI increasingly becomes a key enabler of business processes. However, the road to AI integration is not without challenges. Atreya pointed out several challenges like siloed technology limiting the potential of AI to drive meaningful results. Atreya highlighted that siloed technology often limits the ability of AI to drive results. Organisations must assess whether they are AI-ready, with a mature data infrastructure and robust data availability. According to her, the most pressing concern remains ensuring ethical and responsible AI deployment, as new regulations continue to evolve. For sectors like BFSI, tech integration is already advanced, but industries like logistics have an opportunity to leapfrog by integrating systems and running processes end-to-end with AI, according to Brahma. He emphasised the importance of data integration to fully benefit from AI. Looking ahead, the panellists see huge opportunities in sectors like e-commerce and automotive, where AI-driven services are changing the landscape. The key to success will be collaboration, integration, and a well-trained workforce prepared to drive this AI-enabled transformation. This article is part of a four-part webinar series in partnership with nasscom. These monthly webinars aim to delve deep and offer insights into the evolving BPM landscape. You can watch the full video of the third session <a href="https://youtu.be/3ewvUSYfG1M">here</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

India's BPM industry to see sharp demand for AI-skilled talent over the next 3-5 years

<ul class="summary-list"><li>America is ready to scale up its AI infrastructure.</li><li>The generative AI boom has put data center capacity and energy constraints into focus.</li></ul>America is stepping up plans to maintain an edge in the <a target="_blank" class="" href="https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6">generative AI race</a>.A key part of that strategy is making significant investments in domestic infrastructure — from data centers to chip production — so that it is less reliant on countries such as Taiwan, where tensions with neighboring China loom large.On Tuesday, <a target="_blank" href="https://news.microsoft.com/2024/09/17/blackrock-global-infrastructure-partners-microsoft-and-mgx-launch-new-ai-partnership-to-invest-in-data-centers-and-supporting-power-infrastructure/">Microsoft and BlackRock announced the creation of a $30 billion mega-fund</a> designed to "enhance American competitiveness in AI." Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful.Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth.It means the fund — which involves the Global Infrastructure Partners unit BlackRock acquired in January and Abu Dhabi investment firm MGX — will "make investments in new and expanded data centers." It will also fund the energy infrastructure needed to power them.According to the fund's backers, other investments will be directed to "US partner countries." With debt financing, the fund's overall size could reach $100 billion. "The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance," said <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-brad-smith-tiktok-trump-washington-dc-2020-8">Microsoft president Brad Smith.</a><div type="image" title="microsoft brad smith" height="2426" width="3500" msid="113466371" hostid="261" sizebytes="243638"></div>If America is serious about leading on AI — something the next president will <a target="_blank" class="" href="https://www.businessinsider.com/china-xi-jinping-ai-wreak-havoc-america-world-economy-2024-6">inevitably contend with as China ramps up its efforts</a> — it has little choice but to future-proof the technology by building more critical infrastructure.Data centers, chip manufacturing plants, and energy supply are all vital for making AI tick. But each of these domains is subject to potential pitfalls — be it supply chain vulnerabilities or demand bottlenecks.The US got the ball rolling on supporting its self-sufficiency with semiconductors — the hardware developed by the likes of Nvidia to provide computing power for large language models — with the <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/09/fact-sheet-chips-and-science-act-will-lower-costs-create-jobs-strengthen-supply-chains-and-counter-china/">CHIPS Act, passed by Congress in 2022.</a>While <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-taiwan-tsmc-jensen-huang-china-disruption-2024-9">Nvidia</a> and other US tech firms have led the chip space by focusing on design, manufacturing has largely been outsourced to Taiwanese firm TSMC. Given rising fears over a <a target="_blank" class="" href="https://www.businessinsider.com/navy-seal-team-six-preparing-china-invasion-of-taiwan-report-2024-9">possible Chinese invasion of Taiwan</a>, there are concerns about supply chain security.<div type="image" title="Jensen Huang wih Nvidia hardware" height="2121" width="3000" msid="113466372" hostid="261" sizebytes="174302"></div>Not all is steady on the data center and energy front, either.A June report on global data center trends <a target="_blank" href="https://www.cbre.com/insights/reports/global-data-center-trends-2024">published by commercial real estate group CBRE</a> found that "worldwide power shortage is significantly inhibiting the global data center market's growth." Lack of growth has been a key problem in the US, where the AI boom has led to data center vacancy rates dropping everywhere from Chicago to Northern Virginia.That means data centers are in short supply, or, as the CBRE noted, "North American data center availability keeps tightening due to robust demand," leading parts of the country's tech industry to consider drastic measures. As the <a target="_blank" href="https://www.ft.com/content/d2bbcdc9-7282-43ea-84f7-250aab6a8a43">Financial Times reported last month</a>, some Big Tech firms and their suppliers have even considered turning decommissioned power stations into data centers.This supply shortage hasn't gone unnoticed in Washington. Last week, the <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/09/12/readout-of-white-house-roundtable-on-u-s-leadership-in-ai-infrastructure/">White House held a roundtable with top AI leaders</a> from around the country to "discuss steps to ensure the United States continues to lead the world in AI" by focusing on the data center and energy issue.With the likes of <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-nvidia-routine-management-leadership-style-ceo-founder-2024-4">Nvidia's Jensen Huang</a> and <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-openai-raising-money-strawberry-after-rough-start-year-2024-9">OpenAI's Sam Altman</a> at the table, alongside top government officials such as Commerce Secretary Gina Raimondo, the discussion on American leadership in AI was tied to "national security, economic, and environmental goals."The headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.This may all be better late than never for the US. While the <a target="_blank" class="" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">verdict is still out</a> on the potential for the current AI boom to generate returns in the long run, it's clear that AI will be a critical geopolitical issue for the US in the years ahead.More infrastructure on home soil will help the US have greater control over its own destiny.

America is ready to go big on AI infrastructure 

For 10 years, Joe Gallegos Jr. lived the life of an LA actor, driving from audition to audition across the sprawling city in the hopes of landing a role. Things were going well — he'd landed a role in "A Cowgirl's Story," a military drama starring Bailee Madison, the "Dance Moms" star Chloé Lukasiak, and Pat Boone, and he was starting to read for bigger projects.That all changed a few years ago when a film role brought him back to his native New Mexico. He was close to family for the first time in years, and the film industry there was burgeoning. When the movie wrapped, instead of sprinting back to Los Angeles, Gallegos realized he didn't have to go back. The pandemic had shifted from in-person to on-tape. He's since earned acting credits in TV shows like "Pulse," a medical procedural on Netflix; and "Duster," a JJ Abrams drama on HBO Max — both of which filmed in New Mexico. The money he's made from those gigs and a few independent projects made it possible for Gallegos to buy a townhouse in downtown Albuquerque — something he'd never come close to being able to afford in La La Land."It's been a good decision because, as an actor, I can be literally anywhere in the world now," he told me.Lately, creative workers are increasingly chasing their Hollywood dreams in production hubs far from Hollywood. LA continues to hold the lion's share of <a target="_blank" href="https://www.businessinsider.com/hollywood-losing-dominance-tv-movies-employment-chart-2024-10">film and TV jobs</a> in America, but after a long grind of jobs slowly slipping away, the exodus from the city has accelerated in recent years. A recent analysis of Bureau of Labor Statistics figures conducted by Patrick Adler and Taner Osman of Westwood Economics &amp; Planning Associates found that the figure was 22% in August, down from about 33% two years earlier.So what's making actors, executives, and studios look beyond the Hollywood sign? Some factors aren't new. Most notably, states have long used financial incentives to try to lure film investment away from California. But those incentives helped establish an infrastructure across the US — with top-notch sound stages being built in cities as varied as Dallas, Atlanta, and Miami — that was ready and waiting when the pandemic-era rise of remote work gave those seeking a lower cost of living a real choice in deciding where to live. Add it all up, and it seems that the glitz and glam of Hollywood is struggling to keep up with simple dollars and cents.The filmed entertainment industry's center of gravity is shifting further from Hollywood at a time of upheaval. The decadelong shift to streaming was exacerbated by the pandemic, which stalled, then boosted, production as people stayed inside and became couch potatoes. Peak TV came to a halt in 2022 when networks, studios, and streamers couldn't make the financial math for all those new streaming shows work. And filming was shut down once again in 2023 because of the Hollywood actors and writers strikes.When projects slowly got back on their feet, fewer of them were turning their lights on in LA. FilmLA, which issues permits for production in the region, found that Greater Los Angeles' share of US-produced TV and film projects declined from 23% in 2021 to 18% last year. The number of people employed in the traditional entertainment industry in LA, according to the Bureau of Labor Statistics, hit a 30-year low in June. At the same time, jobs related to video gaming, live events, and the creator economy rose in the city as people's <a target="_blank" href="https://www.emarketer.com/content/digital-media-makes-up-nearly-two-thirds-of-consumers-total-time-spent-with-media">media diet</a> shifted toward social video and away from traditional TV and movies.The biggest reason that productions are looking elsewhere is cost. The wage gains made by the actors and writers have increased budgets for talent, leading producers to hunt for ways to drive down outlays in other areas — including locations. Thirty-seven states offer perks for film and TV production — typically in the form of tax credits equal to a percentage of a production's in-state spending, or cash rebates — and at <a target="_blank" href="https://www.ncsl.org/state-legislatures-news/details/watch-out-hollywood-states-want-a-piece-of-the-moviemaking-action-1">least 18 states have implemented or expanded</a> film tax incentives since 2021. Georgia boosted its incentive program in <a target="_blank" href="https://www.ajc.com/blog/buzz/top-grossing-films-shot-georgia-since-2008/joqaWPplc0L2mKzwmcNMwK/">2008</a>, helping attract big-budget films like Disney's Marvel franchise and the Netflix hit "Stranger Things." Atlanta's share of entertainment employment is still relatively small — just 2%, according to the Otis Report on the Creative Economy, a closely-watched research study — but that has doubled over the past decade and shows no sign of slowing.As productions move out of Los Angeles, it becomes easier for others to follow. Tiffany FitzHenry, an executive producer known for "Sound of Hope: The Story of Possum Trot," has seen the Atlanta area evolve since relocating there from LA in 2009."We have training for not just below the line but people in producing, packaging, financing," she told me, adding that the shift in major studio movies to the city had brought with it the structures needed to sustain a more permanent workforce."The biggest movies have been made here for the past 15 years," she said. "We have all the toys and tools at our fingertips."Other states are getting in on the action. Kentucky passed an incentive program in 2022 offering fully refundable production tax credits worth up to $75 million total or $10 million a project. Its second-largest city, Lexington, recently hired the entertainment marketer Lisa Brin, a Lexington native, to help persuade studios to shoot there. Brin said Lexington had attracted 30 film and TV projects so far this year, representing more than $2 million in local spending. In addition to the financial incentives, the city touts production spaces like Lex Studios, a facility with three sound stages, a growing crew base, and a willingness to pull strings as they did for a recent production that requested a major street to be closed for a shoot.In addition to luring productions, these areas are also trying to make it more appealing for creatives to stick around once the cameras shut off. Georgia and Kentucky are among states that have invested in training programs to foster homegrown talent and initiatives like FilmLex as a resource hub to help productions. For transplants, it's cheaper to live and raise a family outside LA as well as New York, the second-biggest entertainment market. And while jobs and the cost of living might be the primary reasons people move, the proliferation of cultural amenities in many smaller cities makes it easier for them to stay. 26 Keys, a production founded by Noah Hawley, an Austin native who created FX's "Fargo" series, is taking steps to build up Austin's entertainment cultural capital, with plans for a library, events like industry happy hours, and film screenings, working with organizations like the Austin Film Society and South by Southwest. "I just don't think there's a real sort of hub that's trying to connect them," said Maddy Bilder, a project director at 26 Keys. "That's what we're hoping to do here."It's not just other parts of the US that are drawing film crews away from LA; other countries are trying to win over Hollywood as well. Hungary, with a 20-year-old tax rebate and access to culture and an expanding stage system, was recently the setting for Yorgos Lanthimos' "Poor Things." Australia <a target="_blank" href="https://www.ausfilm.com.au/media-releases/ausfilm-celebrates-passage-of-australias-30-location-offset/">nearly doubled</a> its location tax credit to 30% this summer after big-budget titles like the Sony Pictures rom-com "Anyone but You" and the Universal Pictures comedy "The Fall Guy," which starred Ryan Gosling and Emily Blunt, were shot there. Roughly 60% of Netflix's and Amazon's commissions in the first half of this year were on continents other than North America, according to Ampere Analysis."I know of producers, senior production people, moving to places like Australia or working in Hungary," said Tyler Mitchell, the CEO of <a target="_blank" href="https://www.businessinsider.com/inside-ron-howard-brian-grazer-impact-production-crew-staffing-platform-2023-3">Impact</a>, a LinkedIn-like platform for Hollywood. "In the UK, Australia, the governments have supported a lot of education, training, to make sure as they built up production facilities, they had enough crew to service sound stages. So there is more of a talent base globally in places like Ireland, Budapest, South Africa, and the UK. I've heard of more productions in Saudi Arabia looking for crew than I ever have."Actually being on a set is only one part of entertainment production. Development, preproduction, and postproduction are responsible for a huge portion of what ends up on screen. But here, too, the need to physically be in the mecca of moviemaking is waning. Technology is giving rise to a Tinseltown version of remote work.Self-tapes, where actors use ring lights and film themselves at home to connect with casting directors, have become commonplace. Many meetings to pitch projects that shifted to Zoom early in the pandemic have stayed on video. On the postproduction side, file sharing and editing platforms like Pix and ScreenIt Pro enable production companies like 26 Keys to review content locally rather than fly to editing rooms in LA."A lot of pitch meetings are happening over Zoom, four years later," Bilder said.While the power of Los Angeles is dispersing, no single "new Hollywood" is coming to take its place. The end of Peak TV has contracted employment all over — the total number of jobs in the industry, <a target="_blank" href="https://www.businessinsider.com/hollywood-losing-dominance-tv-movies-employment-chart-2024-10">at 447,000</a>, declined 9.1% from 2013 to 2024. Even as markets like Atlanta and Miami grow, their homegrown entertainment encampments have a long way to match the hundred-year history of LA — the most valuable parts of the supply chain, like casting big stars, greenlighting, and packaging, are still concentrated in the city."There's high stakes there. This is an area where trust matters," said Adler, the principal at Westwood, which conducted research for the Otis report. "You built it through face-to-face interaction, repeated exchanges. That's why casting for top roles still happens in LA, even if they end up being shot elsewhere."For those who are just starting out or who work on the creative side, too, Hollywood is still where careers are made and nurtured. FitzHenry wishes there were more directors and producers with packaging and marketing skills in Georgia. "It's a skill set that hasn't been outside of Hollywood," she said. "Currently, the only way to learn is for a producer to adopt and teach you. I was lucky to work with highly skilled producers, which I learned in LA, like an oral tradition. That's a lot of relational capital that needs to be established." Keisha Perry, a longtime entertainment attorney in Atlanta whose clients have included Cedric the Entertainer's production company and the movie "The Waterboyz," said that being a local attorney had made it easier to connect with the growing number of productions taking place in the South but that she still traveled to LA regularly."The reality is, a lot of the decision-makers are in LA," she said. "There are those people who feel as though if you're not in LA, your legitimacy can be questioned."Further evidence of LA's staying power is in the industries like video games, marketing, and the creator economy that are concentrated there because of the city's legacy in entertainment, which has endured through the rise of radio, then TV, then streaming. That may not necessarily lead to more TV shows and films being made there, but it underscores The Town's cultural importance.Gallegos estimates that he still gets half his work from outside New Mexico, helped by representation he has in LA. "The reality is, major roles are not cast here and often not shot here," he said. For all the perks, he misses the excitement of being in LA. "There's stuff happening 24/7. I'm a trained dancer, too. I could always jump into something." Then there's the nagging feeling that virtual auditions don't count. "Sometimes I think I'm sending things out into the void that don't get watched."Despite the similar professional gaps she sees, FitzHenry remains deeply rooted in Atlanta. She's found an affordable, friendly place to raise her kids and a tight-knit professional community that pulls together to help bring projects to the state, things she never experienced in LA."There's a sense people really care about each other," she said. "There used to be that mentality of, you have to be in Hollywood to be in the business. I think that's changing."<a target="_blank" class="" href="https://www.businessinsider.com/author/lucia-moses">Lucia Moses</a> is a senior correspondent covering the intersection of tech and Hollywood for Business Insider's Media team.

Leaving Los Angeles: Why the film industry is ditching Hollywood

The Indian automotive landscape is evolving as consumers lean toward both luxury and sustainable options, according to <keyword id="20034170" type="General" weightage="20" keywordseo="Grant-Thornton-Bharat" source="keywords" meta.keywordsubtype="org" meta.entityname="Grant Thornton Bharat" meta.hostid="261" meta.entityid="Grant Thornton Bharat">Grant Thornton Bharat</keyword>’s survey, Shifting Gears: Understanding Passenger Vehicle Market Trends. The survey, gathering insights from over 3,500 respondents, found that 85% are interested in high-end variants, with a notable rise in preference for <keyword id="20372525" type="General" weightage="20" keywordseo="hybrid-vehicles" source="keywords">hybrid vehicles</keyword> over electric options. With 40% of respondents favouring hybrids and only 17% opting for EVs, the shift suggests a cautious approach as consumers await more robust <keyword id="20415012" type="General" weightage="20" keywordseo="EV-infrastructure" source="keywords">EV infrastructure</keyword> and incentives. Meanwhile, 34% still prefer petrol vehicles, indicating the ongoing transition in <keyword id="21046358" type="General" weightage="20" keywordseo="consumer-preferences" source="keywords">consumer preferences</keyword>. Hybrid vehicles, acting as a bridge, are likely to boost familiarity with green technology, paving the way for broader EV adoption in the future. According to Saket Mehra, Partner and Auto &amp; EV Industry Leader at Grant Thornton Bharat, automakers must focus on both hybrid and electric solutions to match changing demands. This year’s festive season—typically accounting for 30-40% of annual sales—is critical, yet high inventory levels, weather impacts, and regional elections have slowed growth. Utility (UV) and sports utility vehicles (SUVs) continue to dominate, now representing 65% of passenger vehicle sales with 13% growth year-over-year. Despite a slow start to FY25, the popularity of SUVs and UVs reflects a strong preference for versatile vehicles. Yet, automakers are grappling with inventory challenges, with 7.9 lakh units worth ₹79,000 crore in stock as of September 2024. To tap into festive demand, nearly 90% of consumers expect substantial discounts. The survey also highlights a shift in consumer priorities, with a heightened focus on <keyword id="20961985" type="General" weightage="20" keywordseo="vehicle-safety" source="keywords">vehicle safety</keyword> overtaking traditional factors like design or performance. Subscription models are also gaining traction, indicating a broader transformation in how Indians perceive mobility solutions.

Indian consumers shift gears toward luxury and sustainability in the auto sector: Survey

In a major step toward protecting students and their families, the Indian government has issued new guidelines aimed at curbing misleading advertisements by coaching centres. The Centre's crackdown addresses exaggerated claims like “100% selection” or “guaranteed job security” — promises that often lead to disappointment among students who invest time and money expecting a near-certain outcome. <h2>Protecting consumers, not shutting down coaching</h2>On Wednesday, the Central Consumer Protection Authority (CCPA) rolled out these guidelines in response to numerous complaints from the National Consumer Helpline. According to <keyword id="20003684" type="General" weightage="20" keywordseo="consumer-affairs" source="keywords">Consumer Affairs</keyword> Secretary Nidhi Khare, the government’s goal is not to shut down coaching centres but to ensure their ads don’t “undermine consumer rights.” “We have seen coaching centres deliberately concealing information from prospective students,” Khare said. “Therefore, we have come out with the guidelines to provide guidance to people involved in the coaching industry.” So far, the CCPA has issued 54 notices to violators and imposed penalties of around Rs 54.60 lakh. <h2>What’s prohibited?</h2>The guidelines lay out strict boundaries on what coaching centres can — and cannot — say in their ads. Here’s what the guidelines address: <ul><li>False Claims: Ads should not make unsubstantiated promises about “100% selection” or “100% job security.”</li><li>Course Details: No exaggerating or omitting information about courses, their duration, or outcomes.</li><li>Faculty Credentials: Qualifications of teachers must be presented accurately, with no fake credentials.</li><li>Fees and Refunds: All fees and refund policies must be transparent.</li><li>Selection Rates and Ranks: Coaching centres cannot claim high selection rates or exam rankings without proof.</li></ul>Additionally, they are not allowed to use successful candidates’ names, photos, or testimonials in ads without written consent from these individuals. Khare advised students to double-check the information provided by coaching centres. “Many UPSC students clear prelims and mains on their own and take only interview guidance from coaching centres,” she explained, encouraging students to verify the course details actually taken by successful candidates. The guidelines go beyond the broad term “coaching.” They define coaching as academic support, education, guidance, study programs, and tuition — but they exclude counselling, sports, and creative activities. The purpose of this definition is to keep the focus on academic and career-oriented programs, which are most prone to misleading ads. <h2>Full disclosure and consequences for violators</h2>Transparency is now mandatory, as coaching centres must display disclaimers and reveal essential course details. Facilities, infrastructure, and resources must be represented accurately, along with any required approvals or recognitions from authorities like AICTE or UGC. Khare, who also serves as the CCPA chief, stressed that coaching centres should accurately present the service, resources, and infrastructure provided. For instance, if they advertise “fully-equipped classrooms,” the guidelines require this to be an honest description. These guidelines come as a supplement to existing laws and are enforceable under the Consumer Protection Act. This means violators will face penalties, potentially similar to the Rs 54.60 lakh already imposed by the CCPA. The government hopes these new standards will push coaching centres to keep their ads honest, helping students and families make better-informed decisions. (With inputs from agencies)

No More False Promises: Government sets rules to prevent misleading and exaggerated coaching centre ads

<ul class="summary-list"><li>The era of electric air taxis is near, with eVTOLs expected to fly commercially starting next year.</li><li>One expert said eVTOLs fly at low altitudes and could create airspace and security challenges.</li></ul>The US's first <a target="_blank" href="https://www.businessinsider.com/united-electric-air-taxi-archer-evtol-2023-6">electric vertical-takeoff and -landing aircraft</a> are expected to fly commercial passengers as soon as 2025.At launch, <a target="_blank" href="https://www.businessinsider.com/airlines-investing-in-evtol-aircraft-united-american-2022-8">these zero-emission, piloted air taxis</a> — which take off and land like a helicopter but fly like an airplane — are expected to hop between city centers and major airports as a faster and more efficient alternative to driving. The battery-powered vehicles are also much quieter than the <a target="_blank" href="https://www.businessinsider.com/helicopter-ride-nyc-east-hampton-price-increase-airport-noise-regulation-2022-4">noisy helicopters that commonly fly over densely populated cities</a>.According to <a target="_blank" href="https://www.aerosociety.com/news/will-the-aerial-taxis-of-the-future-be-safe/#:~:text=With%20orders%20for%2010%2C000%20eVTOLs,one%20estimate%20from%20JP%20Morgan.">the Royal Aeronautical Society</a>, more than 10,000 eVTOLs are on order worldwide in deals worth some $60 billion.Carriers, including American Airlines, United Airlines, and Virgin Atlantic Airways, as well as noncommercial operators like the <a target="_blank" href="https://www.businessinsider.com/first-electric-air-taxi-delivered-to-us-joby-evtol-2023-10">US Air Force, have placed orders</a> for the new type of aircraft.The investments signal confidence in the futuristic eVTOLs and the burgeoning market for urban air mobility, which JPMorgan analysts have predicted <a target="_blank" href="https://www.businessinsider.com/top-startups-evtol-flying-car-industry-urban-air-mobility-2022-4">could be worth about $1 trillion</a> by 2040.However, the widespread commercialization and expansion of eVTOLs will depend on public acceptance and how regulators and operators address infrastructure challenges both on the ground and in the air.<h2 id="1aca0131-7716-4576-b98f-4cfc4392b0c8">Existing landing zones will need to be electrified with expensive chargers</h2>With up to 200 of the US-based Archer Aviation's Midnight aircraft on order, United is expected to operate the <a target="_blank" href="https://www.businessinsider.com/united-to-use-electric-air-taxi-in-chicago-new-york-2023-3">US's first commercial eVTOL route starting in 2025</a>.In June, the aircraft<a target="_blank" href="https://www.businessinsider.com/flying-taxi-firm-archer-gets-faa-approval-for-commercial-operations-2024-6"> received federal approval to fly commercially </a>as a Part 135 operator, meaning it can run non-scheduled operations like on-demand private charters. It still needs further approvals to fly for airlines like United, but the latest certificate puts it one step closer.United's planned hopper service is set to fly 10 to 20 minutes between downtown Manhattan and Newark Liberty International Airport in New Jersey, offering an alternative to a drive that often takes more than an hour.A later, second United eVTOL route is planned between Chicago's city center and O'Hare International Airport.<div type="image" title="United Airlines Archer Aviation Midnight eVTOL concept drawing." height="1432" width="1866" msid="110773504" hostid="261" sizebytes="77084"></div>All the <a target="_blank" href="https://www.businessinsider.com/how-connectivity-software-can-make-flying-taxis-reality-2024-2">eVTOL destinations have established spots for the electric aircraft</a> to take off from and land on. This type of operation is favored because the landing spots don't take up much space and can be placed near high-density sites such as sports arenas, finance districts, or concert venues.Archer's chief growth and infrastructure officer, Bryan Bernhard, told Business Insider that <a target="_blank" href="https://www.businessinsider.com/see-inside-tour-evtols-the-flying-taxis-revolutionize-commuting-2023-11">Midnight would primarily use these existing heliports</a> or VTOL-specific "vertiports" to start. It also plans to repurpose already-built city infrastructure, such as parking-garage rooftops, as additional landing zones.Regardless of location, facilities that want to welcome eVTOLs like the Midnight must invest in chargers. Bernhard said Archer's would be expensive to purchase and install but would not put a massive new strain on the power grid.He said the challenge lay in striking the right balance between battery conservation and terminal convenience when choosing where to place landing zones.<div type="image" title="The rear two seats of an Archer Midnight eVTOL with x-shaped seatbelts." height="3024" width="4032" msid="110773503" hostid="261" sizebytes="963482"></div>"We're utilizing existing assets and existing routes, so it'll be easy to integrate into that," he said. "But you want to be strategic on where the charger is so the vehicle doesn't have a long taxi path before it can take off."Bernhard added that the Midnight's charger had about the same power output as a <a target="_blank" href="https://www.businessinsider.com/ev-charging-stations-explained-levels-plugs-tesla-supercharger-2022-12">high-speed EV charger.</a><h2 id="be9d0476-d82b-4eb1-a3d5-a187d219bab6">Newly built vertiports may not be welcome in less-urban areas</h2>Henry Harteveldt, a travel analyst, told BI that the continued development of high-density batteries was crucial to eVTOL operators' hope of carrying more people and cargo longer distances.This would lead to the need for newly built vertiports.<a target="_blank" href="https://www.jobyaviation.com/news/joby-to-launch-air-taxi-service-uae/">Joby Aviation,</a> the first and only other US eVTOL manufacturer to secure an FAA certification, has, for example, partnered with eVTOL infrastructure provider Skyports to build four vertiports around Dubai.A Joby spokesperson told BI the company's global operations, which it plans to also extend to places like <a target="_blank" href="https://www.jobyaviation.com/news/joby-ana-partner-nomura-real-estate-vertiports-japan/">Japan</a>, would "blend into the background" and not disrupt daily life."We worked with NASA to analyze the acoustic footprint of the aircraft, demonstrating that at takeoff, it is quieter than a conversation at a distance of 100 meters and is barely perceptive when flying overhead at an altitude of just 500 meters," Joby said.<div type="image" title="Joby in Dubai" height="1500" width="2000" msid="110773508" hostid="261" sizebytes="138736"></div>Across the world, Rani Plaut, the CEO of <a target="_blank" href="https://www.airev.aero/">Air</a>, an Israeli company developing a two-seater eVTOL, told BI that the more infrastructure built to support the growing air-taxi market, the quicker the public would become accustomed to it.Harteveldt said, however, that this unique challenge of public acceptance would be particularly difficult in less-urban communities."There could be an opportunity to build new vertiports in places like office parks or shopping centers," he said. "However, one thing we know to be true is that communities will not want eVTOLs buzzing in and out at all times, even if they're electric."Harteveldt suggested that the optimal places for new vertiports were on top of or adjacent to convention centers or on waterfronts in places like New York City and San Francisco.<div type="image" title="Pilots training in Joby Aviation's eVTOL." height="784" width="1185" msid="110773509" hostid="261" sizebytes="111536"></div>Fortunately for operators, the <a target="_blank" href="https://www.faa.gov/airports/new_entrants/aam_infrastructure">Federal Aviation Administration's</a> official vertiport guidance, coming in 2025, is set to be performance-based. Bernard said the fewer regulatory requirements would make building new US facilities quicker and less costly.<h2 id="09227db6-e9ec-4a66-b5e5-58d27f280cdd">eVTOL operators need to consider airspace safety, security, and efficiency</h2>While manufacturers will face infrastructure challenges on the ground, the industry must also figure out how to efficiently <a target="_blank" href="https://www.businessinsider.com/delta-makes-a-60-million-investment-in-evtols-joby-aviation-2022-10">incorporate eVTOLs into the airspace network</a>.Airspace is used by everything from helicopters and passenger airliners to private jets and student pilots — meaning everyone has to work together with air-traffic control to safely share the skies.<div type="image" title="Archer Aviation" height="1000" width="1500" msid="110773505" hostid="261" sizebytes="148762"></div>Bernhard said the first couple of years of flying the Midnight would involve a few vehicles on existing and approved aviation routes and that Archer intended to use the same operating procedures that exist for other rotorcraft vehicles.He said opening newly certified pathways and new landing locations would take another few years, but conversations about the logistics of air traffic management would ignite.While the era of air taxis is almost here, Harteveldt said he didn't see eVTOLs littering the skies anytime soon. He said this "Jetsons"-like dream would be limited by safety and noise restrictions, especially since the eVTOLs would be flying at lower altitudes."How do you ensure these aircraft don't intentionally do anything that jeopardizes safety and security in places like Washington, DC, or London or Paris, and many others," he said. "You aren't going to want to have these eVTOLs operating in proximity to some of these places."

Flying taxis are closer than ever to reality. The booming industry needs to overcome infrastructure hurdles. 

<ul class="summary-list"><li>A looming port strike and the aftereffects of <a target="_blank" class="" href="https://www.businessinsider.com/florida-home-insurance-prices-premium-effect-from-hurricanes-2024-9">Hurricane Helene</a> could slow the US transport of goods.</li><li>The strike could involve 45,000 dockworkers demanding higher wages and start October 1.</li></ul>The US could be entering a hellish period for moving goods around huge swaths of the country.<a target="_blank" href="https://www.businessinsider.com/florida-home-insurance-prices-premium-effect-from-hurricanes-2024-9">Hurricane Helene</a> has <a target="_blank" href="https://apnews.com/article/hurricane-helene-north-carolina-asheville-f02869c7d01e68f2d7f0553abb82252f">killed nearly 100 people</a> and left devastation across several states, including widespread flood damage that could leave cities like Asheville, North Carolina, <a target="_blank" href="https://www.ashevillenc.gov/news/city-of-asheville-prepares-for-tropical-strom-helene-and-shares-preparedness-tips/">without running water</a> for weeks.The flooding, plus debris including fallen trees, has made many roads and highways impassable, or at least tricky to traverse, across the southeast.Now, a looming port strike could also conspire to slow the transport of critical goods and supplies into, out of, and across the US — and, as a result, deal a devastating economic blow.A <a target="_blank" href="https://www.businessinsider.com/dockworker-strike-what-will-be-impacted-prices-inflation-martime-longshoremen-2024-9">strike among dockworkers</a> stretching from the East Coast to the Gulf Coast could start Tuesday. The International Longshoremen's Association said Sunday it was prepared to strike on October 1. The nation's largest union of maritime workers is demanding higher wages, among other conditions.Jon Davis, chief meteorologist at Everstream Analytics, which focuses on supply-chain risk, told Business Insider that the storm and the possible strike would have massive "compounding effects.""It's not one plus one equals two. One plus one equals a lot more than that," he said.JPMorgan analysts have estimated that costs from shutdowns related to the strike could climb to <a target="_blank" href="https://www.politico.com/news/2024/09/27/port-strike-harris-biden-trump-election-00181319">$5 billion a day</a>.It would be the first to span an entire US coast since 1977 and would involve ports that account for about half of the <a target="_blank" href="https://www.reuters.com/world/us/us-east-coast-port-strike-looms-tuesday-with-no-talks-scheduled-2024-09-30/">country's ocean shipping</a>. Some 45,000 workers could lay down their metaphorical tools; on top of the catastrophic damage to infrastructure in hard-hit states like Florida, Georgia, and North Carolina, it would undoubtedly slow the movement of critical goods, including food and vehicles.<h2 id="0053eb76-883a-40c9-852c-7ac96df4524a">An inflation driver</h2>Any slowdowns in the US's critical supply chains could also fan inflation at a time when the Federal Reserve has begun to lower its benchmark interest rate to avoid tipping the economy into a recession. Price increases have cooled year over year, though they remain high for certain goods like eggs, which have spiked because of <a target="_blank" href="https://www.npr.org/2024/09/27/nx-s1-5126581/egg-prices-bird-flu">bird flu</a>.Amir Mousavian, a professor of supply chain management at the University of New England's College of Business, said the impact of a strike would depend on how long it lasts but that the potential consequences are substantial.He told BI that perishable goods would be affected almost immediately and that grocery-store shortages could trigger panic buying — akin to what unfolded during the pandemic.Shipping costs could also jump as businesses seek alternate means of getting goods to customers, such as importing and exporting goods from the West Coast."The timing of the strike is especially concerning, as the US economy has seen progress in lowering inflation. A prolonged strike could reverse these gains, forcing the Federal Reserve to reconsider its economic strategy and possibly reintroduce more restrictive measures," Mousavian said.<h2 id="8e8f958b-33ca-47d6-a3cd-5f4a1572af77">A supply chain that's not resilient</h2>He said the situation is a reminder of what the pandemic starkly revealed — that the US supply chain is "efficient but not resilient." A walkout would also be a reminder of a need for stronger and more adaptable supply chains to withstand future crises, Mousavian said.Jason Greer, president of Greer Consulting Inc. and a former agent with the National Labor Relations Board, told BI the industrial action is likely to happen and the combination with the hurricane's aftereffects is "going to be devastating overall."He said he expects the union will walk out because there is a feeling among members that their concerns haven't been taken seriously for too long."The longshoremen have said, 'We continue to be pushed aside. We continue to be pushed aside. We're not going to be pushed aside any longer.' So I think the overall economic damage is huge," Greer said, also highlighting impacts like higher grocery prices.Meantime, Angela Blanchard, Houston's chief recovery and resilience officer, pointed out on X that the <a target="_blank" href="https://x.com/CajunAngela/status/1840397403658097142">response to and recovery from the</a> hurricane would be "significantly impeded" by a strike. She noted that the disruption at the ports would crimp the availability of materials and fuel — and affect prices."This will be a long and complicated recovery season," Blanchard wrote.

America is facing a nightmare scenario with a looming strike and wrecked infrastructure after Hurricane Helene

<ul class="summary-list"><li>Fires at DHL warehouses this year may have been part of Russian sabotage operations, officials have said.</li><li>The Kremlin is suspected of ramping up hybrid attacks on Europe in recent months.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/spy-chief-warns-suspected-sabotage-nearly-caused-plane-crash-2024-10">Suspected Russian sabotage activities</a> targeting the air freight industry have been on the rise this year, and the industry is preparing for further action.Brandon Fried, the executive director of the Airforwarders Association, which represents US air cargo companies, told Business Insider that the industry had been on high alert since 9/11."So regardless of who is perpetrating this, whether it's another country or whether it's a terrorist organization, our industry has been vigilant for quite some time," he said, referencing two fires at DHL warehouses earlier this year that have been linked to Russia."They want to cause fear and panic, but we, as a community, are not going to let them. One of our overriding messages is that we're vigilant," Fried said.Western officials have said the <a target="_blank" class="" href="https://www.businessinsider.com/spy-chief-warns-suspected-sabotage-nearly-caused-plane-crash-2024-10">fires, which took place at two DHL sites in the UK and Germany</a> in July, may have been part of Russian sabotage operations that ultimately aimed to target North America, <a target="_blank" class="" href="https://www.wsj.com/world/russia-plot-us-planes-incendiary-devices-de3b8c0a">The Wall Street Journal</a> reported earlier this week.One package caught fire before being loaded onto a plane at a DHL freight center in Leipzig, eastern Germany, while a similar incident took place at a DHL warehouse in Birmingham in the UK.Thomas Haldenwang, the president of Germany's domestic intelligence agency, said in October that it was a "lucky coincidence" that the package in Leipzig caught fire on the ground and not during the flight.Haldenwang did not explicitly blame Moscow, but the German news agency DPA reported that security services were working on the assumption that the attack was connected to Russia, per the <a target="_blank" rel=" nofollow" class="" href="https://www.ft.com/content/b83353a7-bdf0-486b-8f12-d2834261d44f">Financial Times</a>.A police spokesperson told BI that counterterrorism officers were leading an investigation into the Birmingham incident and working to identify any links to similar incidents across the continent.The Wall Street Journal report said the fires were caused by electric massagers implanted with a magnesium-based flammable substance.The devices that ignited in the UK were traced to Lithuania, where officials say they appear to have been part of a wider Russian plot to get such devices on planes to North America, the Journal reported.Frank Umbach, a research director at the European Cluster for Climate, Energy, and Resource Security at the University of Bonn, said that Russian hybrid warfare had escalated from spying on critical infrastructure to active sabotage across the whole of Europe."Hybrid warfare has intensified here in Europe, particularly against Germany," Umbach said, adding that there was concern that German intelligence services had been "heavily penetrated" by Russian agents.Moscow has already been linked to a number of <a target="_blank" class="" href="https://www.businessinsider.com/russian-sabotage-germany-factory-weapons-car-parts-ukraine-diehl-2024-6">sabotage incidents</a> in Europe this year, including arson attempts and a reported plan to <a target="_blank" class="" href="https://www.businessinsider.com/russia-planned-to-assassinate-german-arms-firm-ceo-report-2024-7">kill the CEO of the German arms firm Rheinmetall, </a>which has made munitions and military equipment for Ukraine.Russia is suspected of using <a target="_blank" class="" href="https://www.occrp.org/en/investigation/make-a-molotov-cocktail-how-europeans-are-recruited-through-telegram-to-commit-sabotage-arson-and-murder">social media platforms such as Telegram</a> to recruit proxies to carry out such activities.Speaking a few months after the DHL fires, the chief of the UK's MI6 intelligence service, Richard Moore, said he believed Russian intelligence services had "gone a bit feral."And experts think it's unlikely such incidents will stop any time soon.Shashank Joshi, a former senior research fellow at the Royal United Services Institute who is now the defense editor at The Economist, told BI that he believed the suspected Russian sabotage operations were part of a "pretty broad-brush campaign" that could see the Kremlin target any EU or NATO member."I don't think that anyone is particularly immune as such," Joshi said.A spokesperson for Germany's Military Counterintelligence Service, known as BAMAD, said that the German military and NATO forces in Germany "continue to be a priority target for Russian espionage activities."Kremlin Spokesman Dmitry Peskov has denied Russia's involvement in sabotage operations in Europe.The Federal Office for the Protection of the Constitution, Germany's domestic intelligence services, and the BND declined to comment further.<div type="image" title="The RT logo at the company's headquarters in Moscow." height="683" width="1024" msid="115082510" hostid="261" sizebytes="75584"></div>Western officials say Moscow has also launched <a target="_blank" class="" href="https://www.ncsc.gov.uk/news/russia-behind-cyber-attack-with-europe-wide-impact-hour-before-ukraine-invasion">cyberattacks</a> and sought to <a target="_blank" class="" href="https://www.state.gov/disarming-disinformation/">spread disinformation</a> as part of its alleged sabotage operations.Russian state media sites like RT have already faced sanctions in the <a target="_blank" class="" href="https://www.state.gov/alerting-the-world-to-rts-global-covert-activities/">US</a> and the <a target="_blank" class="" href="https://www.consilium.europa.eu/en/press/press-releases/2022/03/02/eu-imposes-sanctions-on-state-owned-outlets-rtrussia-today-and-sputnik-s-broadcasting-in-the-eu/">EU</a> over allegations of disinformation.Keir Giles, a senior consulting fellow at Chatham House's Russia and Eurasia Program, said that Russian disinformation campaigns, espionage operations, and sabotage attempts were "intimately interlinked.""Objectives in the information domain can be served by kinetic actions and vice versa," Giles said. "The information component of warfare is seen as an integral part and interdependent with all of the other activities that Russia is undertaking.""That's something that's played out very clearly in Russia's war on Ukraine after the full-scale invasion," he added.

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