Business Report: Will Baltimore bridge collapse delay shipments?

The closure of a major shipping port in Baltimore following the bridge collapse is expected to cause delays. Roll-on/roll-off cargo, including vehicles, agriculture, and construction equipment, will be most impacted. While automakers anticipate minor delays, extended waiting times beyond usual quotes are possible.

BRP Stock Up Despite Lower Snowmobile Sales

BRP, a leading snowmobile manufacturer (Ski-Doo), reported lower sales due to the mild winter, leading to decreased revenue and profits. The company expects this trend to continue for a few quarters. However, BRP’s stock price rose over 5% on the Toronto Stock Exchange (Bay Street). Investors seem unconcerned about the sales slowdown as long as excess snowmobile inventory doesn’t require sales that could erode profits.

Sam Bankman-Fried Sentenced for FTX Fraud

Sam Bankman-Fried, former CEO of cryptocurrency exchange FTX, received a 25-year prison sentence for fraud related to the platform’s collapse. Prosecutors allege Bankman-Fried diverted $8 billion in customer funds for personal use, political donations, speculative investments, and executive lifestyles. Three former FTX executives testified against him during the trial.