
Chiquita fires thousands of striking banana workers in Panama, says it suffered $75 million losses
PANAMA CITY (AP) — Banana giant Chiquita Brands has fired its workers in Panama who have been out on strike for more than three weeks as part of nationwide protests against reforms to the social security system, the company said Thursday.
Panamanian President José Raúl Mulino had said earlier Thursday that the strike was illegal and included some 5,000 workers.
'Unfortunately, following the unjustified abandonment of work at our plantations and operations centers since April 28 and continuing today, (the company) has proceeded with the termination of all of our daily workers,' the company said in a statement. It said the company had suffered losses of at least $75 million.
Mulino, speaking at his weekly press briefing Thursday morning, had blamed the leader of the banana workers union.
'We don't know how to talk to (union) leader Francisco Smith about the enormous damage his intransigence is causing the Bocas del Toro job sector,' Mulino said. Bocas del Toro is Panama's westernmost province and borders Costa Rica.
The union did not immediately comment.
Protests marches and occasional roadblocks have stretched from one end of the country to the other as teachers, construction workers and other unions expressed their rejection to changes the government said were necessary to keep the social security system solvent.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
‘Recipe for disaster': Tony Robbins blasts US retirees for relying on Social Security — how to avoid the trap
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Tony Robbins, the well-known motivational speaker, warns that the most popular approach to Social Security is also the most dangerous. On his blog, he says relying on the program as the foundation of your retirement plan is a 'recipe for disaster." Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Here's why Robbins encourages people to look beyond this safety net and why a growing number of working-age Americans are already leaning towards alternative strategies. For most Americans over the age of 65, an average monthly Social Security benefit of $2,000 isn't enough. Data from the Consumer Expenditure Surveys (CE) program shows that retired households spend over double that every month. The program's sustainability is also in doubt, meaning future retirees could potentially see even lower benefits. Trust fund assets are expected to be depleted by 2033, according to the Social Security Administration (SSA), while the Trump administration's proposed tax cuts could deplete the funds in as little as six years, according to Marc Goldwein of The Committee for a Responsible Budget. In other words, Social Security might not be a solid foundation for your retirement plan. 'Time to get your head out of the sand and do some easy number crunching to find out where you are and where you need to be,' Robbins wrote in a blog post. Robbins goes on to encourage working-age Americans to create their own nest egg. Instead of relying on Social Security, it could be a good idea to start building out an independent retirement fund as soon as you can. Robbins recommends targeting savings of roughly 20 times your annual expenses. This can be coupled with the 4% withdrawal rule, which means you can safely use 4% of these assets after adjusting for inflation to meet your living expenses without depleting your funds over the long term. To reach that level of savings, it's important to start investing early and often. Read more: Rich, young Americans are ditching the stormy stock market — The key to building a robust portfolio for the long run is spreading your wealth across different asset types. As you approach retirement, you'll often need to sell off assets to maintain your lifestyle. But if all of your investments are in a single stock, and that stock is down when you want to retire, what will you do? That's why diversification is key. The stock market has see-sawed during 2025 due to a combination of geopolitical uncertainty and shifting economic priorities, driven in part by U.S. tariff negotiations. This is one reason why considering inflation-resistant investments for your retirement, such as gold, may be worthwhile. This precious metal is typically more stable than stocks during economic downturns and recessions. In April 2025, gold breached the $3,000 per ounce benchmark. What's more, JP Morgan Chase predicts that gold could soar to $4,000 per ounce in 2026. To capitalize on gold's growth potential while also securing tax advantages, one option is opening a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold against economic uncertainty. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in free silver. According to a Deloitte survey, 89% of wealth managers believe art and collectibles should be a part of a wealth management offering. That could be a sign it's worth considering this physical asset as a part of your retirement strategy. This market has traditionally been the domain of the ultra-rich, but now you don't need to be an expert in art to take advantage of this asset class. Platforms like Masterworks simplify the process of art investing, allowing everyday investors to buy fractional shares of blue-chip artwork from iconic artists like Picasso, Basquiat and Banksy. Like blue-chip stocks, these are pieces of art that tend to only increase in value over time. This can make it easier to diversify your portfolio without the complexity and cost of managing art investments on your own. Through 23 exits so far, investors have realized representative annualized net returns like 17.6%, 17.8% and 21.5% among assets held for longer than one year. You can get VIP access and skip the waitlist here. See important Regulation A disclosures at Then there's real estate. For most people, this means purchasing a home, but there are now ways to invest without amassing a sizable down payment and taking on a mortgage. For instance, with Arrived, you can invest in rental homes and vacation rentals, curated and vetted for their appreciation and income potential. Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allow investors to take advantage of this inflation-hedging asset class without any extra work on their part. For accredited investors, Homeshares gives access to the $34.9 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
3 hours ago
- Yahoo
‘Recipe for disaster': Tony Robbins blasts US retirees for relying on Social Security — how to avoid the trap
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Tony Robbins, the well-known motivational speaker, warns that the most popular approach to Social Security is also the most dangerous. On his blog, he says relying on the program as the foundation of your retirement plan is a 'recipe for disaster." Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Here's why Robbins encourages people to look beyond this safety net and why a growing number of working-age Americans are already leaning towards alternative strategies. For most Americans over the age of 65, an average monthly Social Security benefit of $2,000 isn't enough. Data from the Consumer Expenditure Surveys (CE) program shows that retired households spend over double that every month. The program's sustainability is also in doubt, meaning future retirees could potentially see even lower benefits. Trust fund assets are expected to be depleted by 2033, according to the Social Security Administration (SSA), while the Trump administration's proposed tax cuts could deplete the funds in as little as six years, according to Marc Goldwein of The Committee for a Responsible Budget. In other words, Social Security might not be a solid foundation for your retirement plan. 'Time to get your head out of the sand and do some easy number crunching to find out where you are and where you need to be,' Robbins wrote in a blog post. Robbins goes on to encourage working-age Americans to create their own nest egg. Instead of relying on Social Security, it could be a good idea to start building out an independent retirement fund as soon as you can. Robbins recommends targeting savings of roughly 20 times your annual expenses. This can be coupled with the 4% withdrawal rule, which means you can safely use 4% of these assets after adjusting for inflation to meet your living expenses without depleting your funds over the long term. To reach that level of savings, it's important to start investing early and often. Read more: Rich, young Americans are ditching the stormy stock market — The key to building a robust portfolio for the long run is spreading your wealth across different asset types. As you approach retirement, you'll often need to sell off assets to maintain your lifestyle. But if all of your investments are in a single stock, and that stock is down when you want to retire, what will you do? That's why diversification is key. The stock market has see-sawed during 2025 due to a combination of geopolitical uncertainty and shifting economic priorities, driven in part by U.S. tariff negotiations. This is one reason why considering inflation-resistant investments for your retirement, such as gold, may be worthwhile. This precious metal is typically more stable than stocks during economic downturns and recessions. In April 2025, gold breached the $3,000 per ounce benchmark. What's more, JP Morgan Chase predicts that gold could soar to $4,000 per ounce in 2026. To capitalize on gold's growth potential while also securing tax advantages, one option is opening a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold against economic uncertainty. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in free silver. According to a Deloitte survey, 89% of wealth managers believe art and collectibles should be a part of a wealth management offering. That could be a sign it's worth considering this physical asset as a part of your retirement strategy. This market has traditionally been the domain of the ultra-rich, but now you don't need to be an expert in art to take advantage of this asset class. Platforms like Masterworks simplify the process of art investing, allowing everyday investors to buy fractional shares of blue-chip artwork from iconic artists like Picasso, Basquiat and Banksy. Like blue-chip stocks, these are pieces of art that tend to only increase in value over time. This can make it easier to diversify your portfolio without the complexity and cost of managing art investments on your own. Through 23 exits so far, investors have realized representative annualized net returns like 17.6%, 17.8% and 21.5% among assets held for longer than one year. You can get VIP access and skip the waitlist here. See important Regulation A disclosures at Then there's real estate. For most people, this means purchasing a home, but there are now ways to invest without amassing a sizable down payment and taking on a mortgage. For instance, with Arrived, you can invest in rental homes and vacation rentals, curated and vetted for their appreciation and income potential. Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allow investors to take advantage of this inflation-hedging asset class without any extra work on their part. For accredited investors, Homeshares gives access to the $34.9 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
3 hours ago
- Yahoo
10 Cities Where Social Security Benefits Are Highest: Should Retirees Move There?
Where should you live when you retire? It's a highly nuanced question that will look different for everyone. Most retirees live on a fixed income that relies, to some extent, on Social Security benefits. Some rely 100% on these benefits. Social Security benefits are calculated based on your earnings history, not where you live. That said, some cities offer supplemental benefits that can enhance Social Security earnings. SmartAsset found the cities where people collect the highest Social Security checks, on average. Should you live in one of these places? Another nuanced question. To help you answer it — at least from a financial perspective — GOBankingRates found the cost of living, average home price and average rent price in each of these 10 cities. Check Out: Read Next: Average Social Security income: $29,031 Cost of living, as compared to the national average: 64.9% higher Average home price: $1,615,157 Average monthly rent price: $4,900 Average Social Security income: $29,715 Cost of living, as compared to the national average: 62% higher Average home price: $1,585,848 Average monthly rent price: $3,100 Learn More: Average Social Security income: $29,850 Cost of living, as compared to the national average: 4% higher Average home price: $526,671 Average monthly rent price: $2,250 Average Social Security income: $30,367 Cost of living, as compared to the national average: 28% higher Average home price: $744,266 Average monthly rent price: $3,000 Average Social Security income: $30,393 Cost of living, as compared to the national average: On par Average home price: $698,323 Average monthly rent price: $3,000 Average Social Security income: $30,570 Cost of living, as compared to the national average: 23% higher Average home price: $677,267 Average monthly rent price: $2,850 Average Social Security income: $30,921 Cost of living, as compared to the national average: 35% higher Average home price: $599,182 Average monthly rent price: $2,856 Average Social Security income: $31,147 Cost of living, as compared to the national average: 8% higher Average home price: $643,612 Average monthly rent price: $2,278 Average Social Security income: $31,736 Cost of living, as compared to the national average: 6% higher Average home price: $556,963 Average monthly rent price: $2,400 Average Social Security income: $31,752 Cost of living, as compared to the national average: On par Average home price: $314,506 Average monthly rent price: $2,750 Editor's note: Home and rental price data was sourced from Zillow on June 5, 2025. More From GOBankingRates Here's the Minimum Salary Required To Be Considered Upper Class in 2025 This article originally appeared on 10 Cities Where Social Security Benefits Are Highest: Should Retirees Move There? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data