The daily business briefing: September 15, 2022

Biden announces tentative deal to prevent freight-rail strike, Patagonia founder gives company away to fight climate change, and more

Yvon Chouinard.
(Image credit: Ben Gabbe/Getty Images for Tribeca X)

1. Biden says railways, freight workers reach deal to avert strike

President Biden said Thursday that a tentative railway labor deal has been hammered out to avert a freight-rail strike that threatened to disrupt commuter and passenger train service and worsen supply-chain delays. Biden said the tentative agreement would "keep our critical rail system working and avoid disruption of our economy," with rail workers getting better pay, working conditions, and health-care-cost "peace of mind," while railway companies would win by being able to "retain and recruit more workers." The agreement came after Amtrak said it was canceling long-distance passenger trains starting Thursday, ahead of a 12:01 a.m. Friday deadline for an agreement. Industry groups already have halted some grain shipments.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.