DSV received commitments from investors for more than half of a $5.5 billion sale of new shares as the Danish freight-forwarding company finances its takeover of DB Schenker.

President Joe Biden ratcheted up pressure on U.S. port employers and shipping lines to restart talks with striking dockworkers, warning that the unfolding strike could turn into a “man-made disaster.”

Reinke will officially step into the role at the end of the year, succeeding Joni Casey, who is retiring after 27 years of service.

Retailers are ramping up hiring for the holiday season, but fewer seasonal employees are expected to be taken on this year to help customers in stores and assemble online orders in warehouses.

DSV won approval to buy Deutsche Bahn’s logistics unit for $15.8 billion, overcoming resistance from German labor unions and late attempts by a rival bidder to derail the deal.

According to the Congressional Research Service, about half the time that presidents have invoked Section 206 of Taft-Hartley, the parties worked out their differences.

As day one of the dockworkers strike unfolded, economists were trying to quantify the damage from the supply chain disruption caused by the closure of 36 ports.

Deutsche Bahn AG’s planned 4.3 billion-euro ($15.8 billion) sale of its logistics arm is facing a decisive vote Oct. 2.

When lawmakers return to Washington after the November elections, their priority will be finalizing bills to fund operations at the U.S. Department of Transportation and other agencies.

PHILADELPHIA — Dockworkers at ports from Maine to Texas began walking picket lines early Oct. 1 in a strike over wages and automation.