But it’s not clear how much of the crime is organized. Matthew Fernandez, 49, who works at a King Soopers in Broomfield, Colo., said he was stunned when he watched a thief walk out with a cart full of makeup, laundry detergent and meat and drive off in a Mercedes-Benz S.U.V.

“The ones you think are going to steal are not the ones doing it,” he said. “From high class to low class, they are all doing it.”

Ms. Barry often gives money to the homeless people who come into her store, so they can buy food. She also knows the financial pressures on people with lower incomes as the cost of living soars.

When people steal, she said, the company can write off the loss. But those losses mean less money for workers.

“That is part of my raise and benefits that is walking out the door,” she said. “That is money we deserve.”

Ella Koeze contributed reporting.

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To Pressure Taiwan, China is Now Targeting its Grouper Exports

FANGLIAO, Taiwan — Lin Chun-lai bought his grouper farm in southern Taiwan about a decade ago with an eye on mainland China’s growing appetite for live fish. In just a few years, the former electrician made enough money to comfortably support his family of four and even open a small inn.

Then China abruptly banned all imports of grouper from the island, in an apparent attempt at turning the economic screws on Taiwan, a self-governed island that Beijing claims as its own territory. The move cut Mr. Lin and other farmers like him off from their main market, putting their livelihoods at risk and dealing a huge blow to a lucrative industry.

Taiwan’s unification with China is inevitable, but most of Taiwan’s 23 million people are in favor of maintaining the island’s de facto independence. As Beijing has ramped up pressure on the island, Taiwan has moved to strengthen economic and diplomatic ties with friendlier countries, including the United States, those in the European Union and Japan.

In recent years, Beijing has sent military aircraft toward the island almost daily. It has tried to isolate Taiwan, peeling off its few remaining diplomatic allies and blocking it from joining international organizations. It has also increasingly sought to restrict the island’s access to China’s vast consumer market, banning Taiwanese pineapples, then wax apples, last year after it said the fruits brought in pests.

their ties to forced labor practices could portend trouble for industries that depend on materials from China.

In recent days, Taiwanese agricultural authorities have contacted grouper farmers to discuss ways that the government can help, including by providing low-interest loans and feed subsidies and expanding access to domestic consumers and overseas markets. Another idea being floated is to include the fish in individually packaged meal boxes sold at train stations and on trains by Taiwan’s railway administration. Taiwan’s Fisheries Agency said on Tuesday that the agency would spend more than $13 million to support the grouper industry.

Taiwan’s Council of Agriculture has said it would consider filing a complaint about the grouper ban to the World Trade Organization. Lin Kuo-ping, the deputy director general of the official Fisheries Agency, said the government had reached out to their Chinese counterparts to discuss the inspection process but had not heard back. China’s General Administration of Customs did not respond to an emailed request for comment.

Some grouper farmers said that if the ban was not lifted, they would have to settle for selling the fish on the domestic market at a huge loss. Until then, the fish will remain in the ponds. Mr. Lin, the grouper farmer, said he worried the groupers could die as a result of overcrowding.

He is now pinning his hopes on another kind of fish that he has been farming, the four-finger threadfin fish, which is also popular on the mainland. But he acknowledged that even this backup strategy was vulnerable to geopolitical shifts. Last year, Taiwan’s exports of the fish were worth nearly $40 million — and more than 70 percent went to China.

“Our biggest customer,” he said, “is still China.”

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‘We Buried Him and Kept Walking’: Children Die as Somalis Flee Hunger

DOOLOW, Somalia — When her crops failed and her parched goats died, Hirsiyo Mohamed left her home in southwestern Somalia, carrying and coaxing three of her eight children on the long walk across a bare and dusty landscape in temperatures as high as 100 degrees.

Along the way, her 3-and-a-half-year-old son, Adan, tugged at her robe, begging for food and water. But there was none to give, she said. “We buried him, and kept walking.”

They reached an aid camp in the town of Doolow after four days, but her malnourished 8-year-old daughter, Habiba, soon contracted whooping cough and died, she said. Sitting in her makeshift tent last month, holding her 2-and-a-half-year-old daughter, Maryam, in her lap, she said, “This drought has finished us.”

imperiling lives across the Horn of Africa, with up to 20 million people in Kenya, Ethiopia and Somalia facing the risk of starvation by the end of this year, according to the World Food Program.

appealed to President Vladimir V. Putin of Russia to lift the blockade on exports of Ukrainian grain and fertilizer — even as American diplomats warned of Russian efforts to sell stolen Ukrainian wheat to African nations.

The most devastating crisis is unfolding in Somalia, where about seven million of the country’s estimated 16 million people face acute food shortages. Since January, at least 448 children have died from severe acute malnutrition, according to a database managed by UNICEF.

only about 18 percent of the $1.46 billion needed for Somalia, according to the United Nations’ financial tracking service. “This will put the world in a moral and ethical dilemma,” said El-Khidir Daloum, the Somalia country director for the World Food Program, a U.N. agency.

projected to increase by up to 16 percent because of the war in Ukraine and the pandemic, which made ingredients, packaging and supply chains more costly, according to UNICEF.

displaced by the drought this year. As many as three million Somalis have also been displaced by tribal and political conflicts and the ever-growing threat from the terrorist group Al Shabab.

cyclones, rising temperatures, a locust infestation that destroyed crops, and, now, four consecutive failed rainy seasons.

spend 60 to 80 percent of their income on food. The loss of wheat from Ukraine, supply-chain delays and soaring inflation have led to sharp rises in the prices of cooking oil and staples like rice and sorghum.

At a market in the border town of Doolow, more than two dozen tables were abandoned because vendors could no longer afford to stock produce from local farms. The remaining retailers sold paltry supplies of cherry tomatoes, dried lemons and unripe bananas to the few customers trickling in.

perished since mid-2021, according to monitoring agencies.

The drought is also straining the social support systems that Somalis depend on during crises.

As thousands of hungry and homeless people flooded the capital, the women at the Hiil-Haween Cooperative sought ways to support them. But faced with their own soaring bills, many of the women said they had little to share. They collected clothes and food for about 70 displaced people.

“We had to reach deep into our community to find anything,” said Hadiya Hassan, who leads the cooperative.

likely fail, pushing the drought into 2023. The predictions are worrying analysts, who say the deteriorating conditions and the delayed scale-up in funding could mirror the severe 2011 drought that killed about 260,000 Somalis.

Famine in Somalia.”

For now, the merciless drought is forcing some families to make hard choices.

Back at the Benadir hospital in Mogadishu, Amina Abdullahi gazed at her severely malnourished 3-month-old daughter, Fatuma Yusuf. Clenching her fists and gasping for air, the baby let out a feeble cry, drawing smiles from the doctors who were happy to hear her make any noise at all.

“She was as still as the dead when we brought her here,” Ms. Abdullahi said. But even though the baby had gained more than a pound in the hospital, she was still less than five pounds in all — not even half what she should be. Doctors said it would be a while before she was discharged.

This pained Ms. Abdullahi. She had left six other children behind in Beledweyne, about 200 miles away, on a small, desiccated farm with her goats dying.

“The suffering back home is indescribable,” she said. “I want to go back to my children.”

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Fifth-generation cattle rancher aims to build biggest U.S. beef plant

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CHICAGO, June 6 (Reuters) – A fifth-generation cattle rancher and consultant plans to build the country’s largest beef plant in South Dakota with capacity to slaughter 8,000 head of cattle a day.

The $1.1 billion project could help address the Biden administration’s concerns about rising food prices and a lack of competition in the meat sector, though it would not be up and running until at least 2026. read more

The project is spearheaded by Kingsbury and Associates and Sirius Realty, both run by Megan Kingsbury of a South Dakota ranching family. She told Reuters she expects construction on the plant to begin in 2023 and take three years.

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The Biden administration and Congress scrutinized the beef industry after COVID-19 outbreaks temporarily shut slaughterhouses in early 2020, leaving ranchers with nowhere to deliver cattle and consumers facing meat shortages.

Four big companies – Cargill (CARG.UL), Tyson Foods Inc (TSN.N), JBS SA (JBSS3.SA), and National Beef Packing Co (MRFG3.SA) – slaughter about 85% of all U.S. fed cattle, according to industry data. The administration has blamed a lack of competition in the sector for rising food prices. Meat companies deny the accusation. read more

Kingsbury’s project would slaughter around 1,000 more cattle per day than the current top processor, a Tyson’s plant in southeastern South Dakota.

“That’s the kind of investment the industry is going to need in the coming years,” said Derrell Peel, an agricultural economist at Oklahoma State University.

But some industry analysts said the plant may struggle to find labor, develop supply chain relationships from scratch, and be profitable amid tighter cattle supplies.

Ranchers have reduced the size of the U.S. herd due to historic drought and low profitability, leaving fewer cattle for processors to slaughter.

Kingsbury said she is confident the new plant will overcome tight cattle supplies and labor issues. The plant aims to employ 2,500 people and use advanced technology seen in Europe and Asia to process beef with less labor, she said.

“We have to break the old mentality of the packing plant being a sweatshop,” Kingsbury said.

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Reporting by Tom Polansek and Christopher Walljasper
Editing by Marguerita Choy

Our Standards: The Thomson Reuters Trust Principles.

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A Farmer Holds On, a Fraying Lifeline for a Besieged Corner of Ukraine

SIVERSK DISTRICT, Ukraine — One of the few civilians still driving on a road leading toward the battle front, Oleksandr Chaplik skidded to a stop and leaned out the car window to swap information with a villager.

He was taking supplies back to his village, one of a handful still in Ukrainian hands that lie in the path of the Russian advance.

“We are surrounded on all sides,” said Mr. Chaplik, 55, a dairy and livestock farmer. “It is the second month without light, without water, without gas, without communication, without the internet, without news. Basically, horror.”

“But people need to eat,” he said. “I am a businessman. So I am doing my job.”

Mr. Chaplik owns about 75 acres of land near the city of Sievierodonetsk, where Russian and Ukrainian troops have been battling for control in heavy street fighting in recent days. The countryside around his farm is under almost constant bombardment by Russian forces trying to encircle the easternmost Ukrainian forces and lay siege to Sievierodonetsk and Lysychansk.

street fighting raged in the contested city of Sievierodonetsk. Jens Stoltenberg, NATO’s secretary general, warned that the conflict appeared to have become a “war of attrition” and advised allies to be prepared for “the long haul.”

“My nerves are cracking,” he said, as he declined another phone call. “I am working 14 to 15 hours a day. Physically I am tired.”

So now he is arranging for his son to bring in a mobile antenna, so the villagers can be in touch with their relatives.

He sees more problems on the horizon. The war has disrupted farming and food production to such an extent that people in eastern Ukraine could go hungry in coming months, he warned.

The potatoes are already planted, which will provide food for the villagers, he said, but meat and milk will become scarce.

“If I do not prepare feed for my cows they will die this winter,” he said. “I cannot cut the hay because of the cluster bombs in the fields and I need 12,000 bales of hay and I do not have the workers.”

And as he follows the progress of the war, and the steady advance of Russian troops, he said it was likely that they would seize control of the village and he would lose the farm that he built up over more than 20 years.

Separatist forces backed by Russia seized the area in 2014 but were pushed back after a few months. But this time he said he did not expect President Vladimir V. Putin to stop. The Russian leader wants to seize a swath of the country from the city of Kharkiv in the northeast to Odessa in the southwest, he said.

“He will not calm down,” he said. “He will fight for a year, two, three, until he reaches his goal.”

Mr. Chaplik has been slaughtering his pigs, so only one remains, slumbering in his pen. The newborn calves will have to be slaughtered too, he said. “It’s a shame.”

If the Russians came, he added, he would have to leave his guard dogs, six German shepherds. “I could not bear to put them down,” he said. “I will let them loose.”

If the shells came too close, he would take his workers and leave, he said. “I will start anew,” he said. “Give me a little piece of land, in Ukraine, in the United States, wherever. I can build a great business again.”

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Ukraine Live Updates: Seeing a Stalled Russia, West Adds Support and Arms for Ukraine

ZAPORIZHZHIA, Ukraine — Some flashed bright smiles and others bent over in heaving sobs, sharing the end of their hellish subterranean ordeal. Here, at last, were ordinary things they thought they might not live to see again: sunlight, enough food and escape from incessant Russian shelling.

On a fleet of city buses, flanked by white United Nations and Red Cross vehicles, nearly 130 women, children and elderly people on Tuesday reached the relative safety of Ukrainian-controlled territory, after weeks huddled in the belly of Mariupol’s sprawling steelworks.

They had sheltered in the near-darkness of underground bunkers, with little food or water as explosives of all shapes and sizes rained down day and night, slowly chipping away the steel and concrete overhead that was their only protection.

“For some reason I remember Easter, Easter Day,” said Inna Papush, who spent 58 days underground with her daughter, Dasha, 17. “We thought it would be a holy day and they would take a break,” she said of the Russian forces.

“But the shelling became even heavier,” Dasha said, completing her mother’s thought.

Leaders of the United States and Europe pressed harder on Tuesday to arm Ukraine, hinder the Kremlin and strengthen the NATO alliance — President Biden visited a factory that makes antitank missiles that have been vital to the Ukrainian cause — even as President Vladimir V. Putin of Russia warned that they were only making matters worse.

And in the parking lot of the Epicenter shopping complex in Zaporizhzhia, in southeastern Ukraine, evacuees from Mariupol stepped from buses, blinking in the sunshine. They were greeted by a parade of aid workers offering tea and snacks and a less-than-quiet place to rest in a large white tent buzzing with journalists, psychologists and the occasional politician. Children were given candy, while an air raid siren sounded briefly, ignored by all.

Their evacuation was a rare but limited victory for diplomacy, and an unusual concession to human dignity by Russian forces who have inflicted death and misery upon civilian populations across a broad swath of Ukraine since the war began on Feb. 24.

Negotiators from the United Nations and the International Committee for the Red Cross brokered a deal with the Russians that allowed for the civilians to escape the Azovstal steel plant, the sprawling complex that had been their refuge. But it came only after more than two months of intense attacks that have turned Mariupol, once a vivacious port city, into a ruin of bomb-blasted buildings and corpse-strewn streets. In addition to 127 evacuees who fled to Zaporizhzhia, about 30 escaped the plant but chose to remain in Mariupol, according to The Associated Press.

In the days leading up to a cease-fire that allowed the civilians to escape, Russian forces escalated their attacks on the plant, causing cave-ins that hampered rescue efforts and killing and injuring unknown numbers, according to Ukrainian officials and troops who are still there.

“I was in Azovstal for two and a half months and they slammed us from all sides,” said Olga Savina, an elderly woman, as she emerged from a white city bus provided by the Zaporizhzhia authorities for the evacuation.

As she spoke, she repeatedly cast her gaze down to the pavement, explaining that the sun burned her eyes after so many days underground.

From the evacuees a picture began to emerge of life in Azovstal. The steel mill was like a small city, with roads and buildings dating to the post-World War II era, when any big Soviet construction project included reinforced bomb shelters equipped with everything needed for long-term survival.

Evacuees described bunkers, most housing 30 to 50 people, with kitchens, bathhouses and sleeping areas. The shelters were spread out around the grounds of the complex, so there was little contact between groups hiding in different places.

There in the dark, a semblance of day-to-day life took shape.

“We got used to it being very dark. We had to economize food,” said Dasha Papush. “The soldiers brought us what they could: water, food, oatmeal.”

“We didn’t eat like we did at home,” she added.

Many of the evacuees had been underground since the earliest days of the war. For a woman named Anna, 29, who placated her young son, Ivan, with a lollipop, it was 57 days. While there, she was separated from her husband, a fighter in the National Guard, by a brisk, 15-minute walk through the factory ruins, though visits were rare because of the shelling and constant fighting.

Leaving the safety of the underground shelter was treacherous, but necessary for survival.

“The guys who are with us went out under fire and tried to find us a generator and fuel, so that we had electricity to charge our flashlights,” she said. “We of course had to search for water.”

For Sergei Tsybulchenko, 60, the reason to emerge was firewood. Scattered around the grounds of the factory were shipping palettes that he and a few men would collect and break up to fuel the cooking fire he and his fellow inmates had made in a part of their bunker. He and the 50 or so others crammed into his bunker would gather to prepare and share one meal a day, he explained — usually a mix of macaroni, oatmeal and canned meat, cooked all together in a large pot.

Mr. Tsybulchenko said the fire had to be kept low, for fear that it could be detected by thermal sensors on Russian jets.

“It was just always, boom, boom, boom, boom,” he said. “It was a real strain on the brain.”

Under constant bombardment, he said, the shelter began to disintegrate, with a portion of it collapsing.

Over the weekend, for the first time in weeks, it stopped.

In Mr. Tsybulchenko’s shelter, three soldiers with the Azov regiment, a Ukrainian military unit whose soldiers make up the bulk of those fighting at Azovstal, asked for anyone suffering from any illnesses to come forward. Mr. Tsybulchenko’s wife, Nelya, who has asthma, raised her hand. The couple walked out of the shelter into the sunlight with their daughter, her husband and a small dog.

Only 11 people from their bunker were chosen to leave, leaving some 40 others behind. Those who remained included a mother with her two children, who Mr. Tsybulchenko said was scared to leave because her husband was a high-ranking officer fighting at the plant.

“She was worried that if they found out, she would end up in a prison camp together with the children,” he said.

The mayor of Mariupol, Vadym Boichenko, said in a televised interview on Tuesday that more than 200 civilians were still hiding at the plant, and that more than 100,000 people remained scattered about the city. Inside Azovstal, supplies of food, water and medicines have dwindled to critical levels.

The Russians resumed shelling the plant almost immediately after international negotiators departed with evacuees, according to soldiers there. On Tuesday, Russian forces attempted to storm the complex after pummeling it with planes, tanks and artillery, Capt. Svyatoslav Palamar, the deputy commander of the Azov regiment at the plant, said in a statement on Telegram. The regiment released video showing the bodies of two women, who it said were killed in the renewed attack.

“We will do everything possible to repel this assault,” Captain Palamar said. “However, we call for immediate action to evacuate civilians from the plant’s grounds.”

It took Mr. Tsybulchenko and his family nearly two hours just to make it out of the complex. An elderly man who was with them had to be carried over twisted equipment, through massive craters and around unexploded ordinance.

Once outside, the evacuees were handed over to Russian troops and eventually put on buses for what would become a three-day, roundabout journey through dozens of checkpoints, where Russian soldiers fingerprinted and photographed them and interrogated them about the locations of Ukrainian fighters still at the plant.

At one point on the journey, Mr. Tsybulchenko looked off in the distance and saw the remains of Mariupol, the city of his birth. The apartment that his grandfather had received from the Soviet authorities in the 1960s and where he had lived since he was 3 years old was gone. On the horizon, he could make out the jagged shapes of the steel factory.

“A black smoke hung over Azovstal,” he said.

Cora Engelbrecht contributed reporting from Krakow, Poland.

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Amazon Workers on Staten Island Vote to Unionize

It was a union organizing campaign that few expected to have a chance. A handful of employees at Amazon’s massive warehouse on Staten Island, operating without support from national labor organizations, took on one of the most powerful companies in the world.

And, somehow, they won.

Workers at the facility voted by a wide margin to form a union, according to results released on Friday, in one of the biggest victories for organized labor in a generation.

Employees cast 2,654 votes to be represented by Amazon Labor Union and 2,131 against, giving the union a win by more than 10 percentage points, according to the National Labor Relations Board. More than 8,300 workers at the warehouse, which is the only Amazon fulfillment center in New York City, were eligible to vote.

The win on Staten Island comes at a perilous moment for labor unions in the United States, which saw the portion of workers in unions drop last year to 10.3 percent, the lowest rate in decades, despite high demand for workers, pockets of successful labor activity and rising public approval.

including some labor officials — say that traditional unions haven’t spent enough money or shown enough imagination in organizing campaigns and that they have often bet on the wrong fights. Some point to tawdry corruption scandals.

The union victory at Amazon, the first at the company in the United States after years of worker activism there, offers an enormous opportunity to change that trajectory and build on recent wins. Many union leaders regard Amazon as an existential threat to labor standards because it touches so many industries and frequently dominates them.

likely to be a narrow loss by the Retail, Wholesale and Department Store Union at a large Amazon warehouse in Alabama. The vote is close enough that the results will not be known for several weeks as contested ballots are litigated.

The surprising strength shown by unions in both locations most likely means that Amazon will face years of pressure at other company facilities from labor groups and progressive activists working with them. As a recent string of union victories at Starbucks have shown, wins at one location can provide encouragement at others.

Amazon hired voraciously over the past two years and now has 1.6 million employees globally. But it has been plagued by high turnover, and the pandemic gave employees a growing sense of power while fueling worries about workplace safety. The Staten Island warehouse, known as JFK8, was the subject of a New York Times investigation last year, which found that it was emblematic of the stresses — including inadvertent firings and sky-high attrition — on workers caused by Amazon’s employment model.

“The pandemic has fundamentally changed the labor landscape” by giving workers more leverage with their employers, said John Logan, a professor of labor studies at San Francisco State University. “It’s just a question of whether unions can take advantage of the opportunity that transformation has opened up.”

Standing outside the N.L.R.B. office in Brooklyn, where the ballots were tallied, Christian Smalls, a former Amazon employee who started the union, popped a bottle of champagne before a crowd of supporters and press. “To the first Amazon union in American history,” he cheered.

asked a judge to force Amazon to swiftly rectify “flagrant unfair labor practices” it said took place when Amazon fired a worker who became involved with the union. Amazon argued in court that the labor board abandoned “the neutrality of their office” by filing the injunction just before the election.

Amazon would need to prove that any claims of undue influence undermined the so-called laboratory conditions necessary for a fair election, said Wilma B. Liebman, the chair of the N.L.R.B. under President Barack Obama.

President Biden was “glad to see workers ensure their voices are heard” at the Amazon facility, Jen Psaki, the White House press secretary, told reporters. “He believes firmly that every worker in every state must have a free and fair choice to join a union,” she said.

The near-term question facing the labor movement and other progressive groups is the extent to which they will help the upstart Amazon Labor Union withstand potential challenges to the result and negotiate a first contract, such as by providing resources and legal talent.

“The company will appeal, drag it out — it’s going to be an ongoing fight,” said Gene Bruskin, a longtime organizer who helped notch one of labor’s last victories on this scale, at a Smithfield meat-processing plant in 2008, and has informally advised the Staten Island workers. “The labor movement has to figure out how to support them.”

Sean O’Brien, the new president of the 1.3 million-member International Brotherhood of Teamsters, said in an interview on Thursday that the union was prepared to spend hundreds of millions of dollars unionizing Amazon and to collaborate with a variety of other unions and progressive groups.

said he became alarmed in March 2020 after encountering a co-worker who was clearly ill. He pleaded with management to close the facility for two weeks. The company fired him after he helped lead a walkout over safety conditions in late March that year.

Amazon said at the time that it had taken “extreme measures” to keep workers safe, including deep cleaning and social distancing. It said it had fired Mr. Smalls for violating social distancing guidelines and attending the walkout even though he had been placed in a quarantine.

After workers at Amazon’s warehouse in Bessemer, Ala., overwhelmingly rejected the retail workers union in its first election last spring, Mr. Smalls and Derrick Palmer, an Amazon employee who is his friend, decided to form a new union, called Amazon Labor Union.

While the organizing in Alabama included high-profile tactics, with progressive supporters like Senator Bernie Sanders visiting the area, the organizers at JFK8 benefited from being insiders.

For months, they set up shop at the bus stop outside the warehouse, grilling meat at barbecues and at one point even passing out pot. (The retail workers said they were hamstrung by Covid during their initial election in Alabama.)

nationwide agreement to allow workers more access to organize on-site.

At times the Amazon Labor Union stumbled. The labor board determined this fall that the fledgling union, which spent months collecting signatures from workers requesting a vote, had not demonstrated sufficient support to warrant an election. But the organizers kept trying, and by late January they had finally gathered enough signatures.

Amazon played up its minimum wage of $15 an hour in advertising and other public relations efforts. The company also waged a full-throated campaign against the union, texting employees and mandating attendance at anti-union meetings. It spent $4.3 million on anti-union consultants nationwide last year, according to annual disclosures filed on Thursday with the Labor Department.

In February, Mr. Smalls was arrested at the facility after managers said he was trespassing while delivering food to co-workers and called the police. Two current employees were also arrested during the incident, which appeared to galvanize interest in the union.

The difference in outcomes in Bessemer and Staten Island may reflect a difference in receptiveness toward unions in the two states — roughly 6 percent of workers in Alabama are union members, versus 22 percent in New York — as well as the difference between a mail-in election and one conducted in person.

But it may also suggest the advantages of organizing through an independent, worker-led union. In Alabama, union officials and professional organizers were still barred from the facility under the settlement with the labor board. But at the Staten Island site, a larger portion of the union leadership and organizers were current employees.

“What we were trying to say all along is that having workers on the inside is the most powerful tool,” said Mr. Palmer, who makes $21.50 an hour. “People didn’t believe it, but you can’t beat workers organizing other workers.”

The independence of the Amazon Labor Union also appeared to undermine Amazon’s anti-union talking points, which cast the union as an interloping “third party.”

On March 25, workers at JFK8 started lining up outside a tent in the parking lot to vote. And over five voting days, they cast their ballots to form what could become the first union at Amazon’s operations in the United States.

Another election, brought also by Amazon Labor Union at a neighboring Staten Island facility, is scheduled for late April.

Jodi Kantor contributed reporting.

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Wall Street Week Ahead: Some investors wary of ‘buying the dip’ as Ukraine, Fed gyrate stocks, article with image

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Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar

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NEW YORK, Feb 27 (Reuters) – U.S. stocks drew buyers after a recent tumble, but some investors believe buying the dip this time may be a far riskier bet than in the past as markets face geopolitical strife and a hawkish Federal Reserve.

The benchmark S&P 500 surged more than 6% from Thursday’s lows to close higher on the week, after investors swooped in following sharp declines on the heels of Russia’s invasion of Ukraine. read more

Investors were preparing for more gyrations in asset prices after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system. [ read more

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On the surface, last week’s rebound resembled past bounces the index has experienced in its more than 200% run over the past decade, when “buying the dip” proved a winning strategy.

Yet while bargain hunters over the last two years could count on the Fed’s historically loose monetary policy to offer stocks support, today they face heightened geopolitical uncertainty and a central bank that is expected to pull out the stops in its fight against inflation – starting with a widely anticipated rate increase in March.

“Investors were trained to buy the dip because they had the backing of the Fed. But now you could make a case that this is one of the most significant geopolitical events for the last decade, and you don’t have the Fed in your corner,” said Burns McKinney, a senior portfolio manager at NFJ Investment Group.

The S&P is down 8% year-to-date and confirmed it was in a correction by falling more than 10% from its record high earlier this week – its biggest decline since stocks lost nearly a third of their value in the COVID-19 selloff of March 2020 before doubling from their lows.

Many expect geopolitical tensions to continue plaguing markets, as the implications from the war in Ukraine become clearer.

Kyle Bass, founder and chief investment officer of hedge fund Hayman Capital Management, believes investors still have not factored in all of the possible outcomes that could result from Russia’s invasion of Ukraine, including a prolonged conflict that weighs on global growth and sends inflation higher by pushing up commodity prices.

“This is going to get worse before it gets better,” he told Reuters in a recent interview. “Asset managers don’t have these outcomes in their realm of possibilities.”

Measures to cut off some Russian banks off from SWIFT and place restrictions on the Russian central bank’s international reserves may fuel more market swings, including a renewed rush to safe haven assets such as gold and Treasuries, investors said. read more

“We saw an equity rally and risk assets rally recently on the basis that the West was not going to impose very severe sanctions, but that is certainly going to change,” said Peter Kinsella, global head of FX strategy at UBP. “The fact that it looks like this is going to be a more drawn out and protracted conflict is not a particularly good environment for risky assets.”

Bass said investors should own assets that can hold value during inflationary times, such as commodities and real estate.

McKinney is buying dividend-paying stocks that he expects to withstand future volatility in the market and moving some money into defense companies.

In addition to the fast-moving situation in Ukraine, investors next week will be watching Friday’s non-farm payrolls data for February – the last such employment report the Fed will see before its monetary policy meeting in March.

Anticipation of Fed tightening has weighed on markets in recent weeks, as investors price in around 165 points of interest rate increases by next February. Fed Chairman Jerome Powell said he expected to raise interest rates in March for the first time since 2018. FEDWATCH

Though Ukraine remains in flux, those in favor of buying on weakness argue that stock declines from past geopolitical events have been short-lived. LPL Financial’s study of 37 major geopolitical events since World War Two found that stocks were up an average of 11% one year later, provided a recession does not occur.

Retail investors have been among the dip buyers, purchasing a net $1.5 billion on Thursday, data from Vanda Research showed. read more

BlackRock (BLK.N)last week added to its strategic overweight in equities, saying investors may be overestimating how hawkish central banks will need to be in their battle against inflation. JPMorgan’s (JPM.N) analysts, meanwhile, argued that “initial volatility around rate liftoff didn’t last and equities made new all-time highs 2-4 quarters out.”

Others, however, are taking a more dour view, as the markets price in Fed tightening in the face of soaring inflation.

Charles Lemonides, portfolio manager of hedge fund ValueWorks LLC has been increasing his bets against some stocks, including semiconductor maker Broadcom Inc (AVGO.O) and plant-based meat company Beyond Meat Inc , skeptical that markets will be able to sustain a rally in the face of a hawkish Fed.

“The reality is that the market has had a huge run and inevitably you give back some of those gains,” he said.

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Reporting by David Randall; Additional reporting by Ira Iosebashvili and Karin Strohecker; Writing by Ira Iosebashvili; Editing by Richard Chang, Chris Reese and Diane Craft

Our Standards: The Thomson Reuters Trust Principles.

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How Russia Is Cashing In on Climate Change

PEVEK, Russia — A refurbished port. A spanking new plant to generate electricity. Repaved roads. And money left over to repair the library and put in a new esplanade along the shore of the Arctic Ocean.

Globally, the warming climate is a creeping disaster, threatening lives and livelihoods with floods, fires and droughts, and requiring tremendous effort and expenditure to combat.

But in Pevek, a small port town on the Arctic Ocean in Russia’s Far North capitalizing on a boom in Arctic shipping, the warming climate is seen as a barely mitigated bonanza.

“I would call it a rebirth,” said Valentina Khristoforova, a curator at a local history museum. “We are in a new era.”

Arable land is expanding, with farmers planting corn in parts of Siberia where it never grew before. Winter heating bills are declining, and Russian fishermen have found a modest pollock catch in thawed areas of the Arctic Ocean near Alaska.

Nowhere do the prospects seem brighter than in Russia’s Far North, where rapidly rising temperatures have opened up a panoply of new possibilities, like mining and energy projects. Perhaps the most profound of these is the prospect, as early as next year, of year-round Arctic shipping with specially designed “ice class” container vessels, offering an alternative to the Suez Canal.

The Kremlin’s policy toward climate change is contradictory. It is not a significant issue in domestic politics. But ever mindful of Russia’s global image, President Vladimir V. Putin recently vowed for the first time that Russia, the world’s fourth-largest emitter of greenhouse gases and a prodigious producer of fossil fuels, would become carbon neutral by 2060.

vulnerable to wildfires, reinforce dams against river flooding, rebuild housing collapsing into melting permafrost, and brace for possible lower world demand for oil and natural gas.

Rosatom, the Russian state nuclear company that is coordinating investment in the shipping lane, said the initiative benefits from climate change but will also help fight it by reducing emissions from ships sailing between Europe and Asia by 23 percent, compared with the much longer Suez route.

The trip from Busan, in South Korea, to Amsterdam, for example, is 13 days shorter over the Northern Sea Route — a significant savings in time and fuel.

told the Russian media.

signed a deal with DP World, the Dubai-based ports and logistics company, to develop ports and a fleet of ice-class container ships with specially reinforced hulls to navigate icy seas.

The thawing ocean has also made oil, natural gas and mining ventures more profitable, reducing the costs of shipping supplies in and products out. A multi-billion-dollar joint venture of the Russian company Novatek, Total of France, CNPC of China and other investors now exports about 5 percent of all liquefied natural gas traded globally over the thawing Arctic Ocean.

Overall, analysts say, at least half a dozen large Russian companies in energy, shipping and mining will benefit from global warming.

One benefit the people of Pevek haven’t felt is any sense that the climate is actually warming. To them, the weather seems as cold and miserable as ever, despite an average temperature 2.1 degrees Fahrenheit warmer than 20 years ago.

Global warming has been “a plus from an economic point of view,” said Olga Platonova, a librarian. Still, she and other residents say that in light of the costly and dangerous changes worldwide, they have no reason to celebrate.

And even here the environmental impacts are uncertain many say, citing the (to them) alarming appearance in recent years of a flock of noisy crows never seen before.

And Ms. Platonova had one other regret: “It’s a shame our grandchildren and great-grandchildren won’t see the frozen north as we experienced it.”

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September Consumer Price Index: Inflation Rises

Consumer prices jumped more than expected last month, with rent, food and furniture costs surging as a limited supply of housing and a shortage of goods stemming from supply chain troubles combined to fuel rapid inflation.

The Consumer Price Index climbed 5.4 percent in September from a year earlier, faster than its 5.3 percent increase through August and above economists’ forecasts. Monthly price gains also exceeded predictions, with the index rising 0.4 percent from August to September.

The figures raise the stakes for both the Federal Reserve and the White House, which are facing a longer period of rapid inflation than they had expected and may soon come under pressure to act to ensure the price gains don’t become a permanent fixture.

On Wednesday, President Biden said his administration was doing what it could to fix supply-chain problems that have helped to produce shortages, long delivery times and rapid price increases for food, televisions, automobiles and other products.

Social Security Administration said on Wednesday that benefits would increase 5.9 percent in 2022, the biggest boost in 40 years. The increase, known as a cost-of-living adjustment, is tied to rising inflation.

jumped early in 2021 as prices for airfares, restaurant meals and apparel recovered after slumping as the economy locked down during the depths of the pandemic. That was expected. But more recently, prices have continued to climb as supply shortages mean businesses cannot keep up with fast-rising demand. Factory shutdowns, clogged shipping routes and labor shortages at ports and along trucking lines have combined to make goods difficult to produce and transport.

expect higher prices. If people believe that their lifestyles will cost more, they may demand higher compensation — and as employers lift pay, they may charge more for their goods to cover the costs, setting off an upward spiral.

though typically too little to fully offset the amount of inflation that has occurred this year. There are notable exceptions to that, including in leisure and hospitality jobs, where pay has accelerated faster than prices.

The fact that rents and other housing costs are now climbing only compounds the concern that price gains are becoming stickier.

“You have the sticky, important and cyclical piece of inflation surprising to the upside,” said Laura Rosner-Warburton, an economist at MacroPolicy Perspectives. “It is certainly a very significant development.”

Matt Permar, a 24-year-old mail carrier from Toledo, Ohio, rents a two-bedroom apartment in a suburban area with a friend from college. The pair had paid $540 a month each for two years, which Mr. Permar called “pretty standard.” But that has changed.

“With the housing market being the way it is, they raised it about $100,” he said of his monthly rent. As a result, Mr. Permar said, he will have less cash to save or invest.

The Fed aims for 2 percent inflation on average over time, which it defines using a different but related index, the Personal Consumption Expenditures measure. That gauge is released at more of a delay, and has also jumped this year.

Central bankers have said they are willing to look past surging prices because the gains are expected to prove transitory, and they expect long-run trends that had kept inflation low for years to come to dominate. But they have grown wary as rapid price gains last.

The Fed’s September meeting minutes showed that “most participants saw inflation risks as weighted to the upside because of concerns that supply disruptions and labor shortages might last longer and might have larger or more persistent effects on prices and wages than they currently assumed.”

Fed officials’ moves toward slowing their bond purchases could leave them more nimble if they find that they need to raise rates to control inflation next year. Officials have signaled that they want to stop buying bonds before raising rates, so that their two tools are not working at odds with each other.

Wall Street is watching every inflation data point closely, because higher rates from the Fed could squeeze growth and stock prices. And climbing costs can cut into corporate profits, denting earning prospects.

White House officials and many Wall Street data watchers tend to emphasize a “core” index of inflation, which strips out volatile food and fuel prices. Core inflation climbed 4 percent in the year through last month, but the monthly gain was less pronounced, at 0.2 percent.

Some economists welcomed that moderation as good news, along with the cooling in key prices, like airfares, that had popped earlier in the economic reopening. Others emphasized that once supply chain kinks were worked out, prices could drop on products like couches, bikes and refrigerators, providing a counterweight to rising housing expenses.

Omair Sharif, founder of Inflation Insights, said he expected consumer price inflation to moderate, coming in at 2.75 percent to 3 percent on a headline basis by next July, and for core inflation to cool down even more.

“I don’t think there’s any reason to panic,” he said.

Ana Swanson and Ben Casselman contributed reporting.

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