The managers of the Panama Canal said they expect income from the waterway to drop after authorities were forced to limit the number of ships passing through each to 32 due to a lack of rainfall.
Ricaurte Vásquez, the canal’s administrator, said Thursday that income in 2024 could drop by as much as $200 million because of the drought.
The canal implemented a measure Sunday capping the number of ships passing through its locks daily to a maximum of 32, compared to 36 to 38 under normal operation.
Not enough rain has fallen to feed the watershed system of rivers and brooks that fill lakes, whose waters in turn fill the locks.
The watershed also supplies freshwater to Panama City, home to about half the country’s population of 4 million.
The canal had expected to earn about $4.9 billion in fees next year before the measures were announced.
New York Attorney General Letitia James announced a lawsuit against PepsiCo Inc. on Wednesday, accusing the soda-and-snack food giant of polluting the environment and endangering public health after its single-use plastics were found along the Buffalo River.
Voting on a tentative contract agreement between General Motors and the United Auto Workers union that ended a six-week strike against the company appears too close to call after the latest tallies at several GM factories were announced Wednesday.
Microsoft is partnering with Warner Brothers for the film Wonka to release a limited edition Xbox series X that looks like one of Willy Wonka's famous chocolate bars.
Google CEO Sundar Pichai was back in court Tuesday to testify in an antitrust trial that accuses the company of running an illegal monopoly on its Android apps.
