Analysis: As Mississippi oil barge arbitrage window shuts, another opens
NEW YORK (Reuters) – The brisk flow of oil barges shipping crude oil down the Mississippi has slowed to a trickle this summer, curbed by the vanishing gap in prices between inland and coastal prices. Yet the barge market has barely lost a step.
Insight: Zombie borrowers haunt China’s shadow banks
SHANGHAI (Reuters) – Call it the new China Syndrome: Although Asia’s biggest economy is slowing down markedly, credit continues to surge. Dead-end projects and dying industries are sucking up an ever-larger portion of new credit, while more productive …
China’s Xiamen to buy six Boeing 787s to launch long-haul flights
SINGAPORE (Reuters) – Chinese carrier Xiamen Airlines has finalized a long-awaited deal for six Boeing 787 aircraft worth $1.27 billion at list prices, allowing it to begin long-haul services to the United States and Europe in 2014.
Huawei, ZTE win bulk of China Mobile’s $3 billion 4G bonanza: sources
SINGAPORE (Reuters) – China Mobile Ltd has awarded initial 4G contracts worth around 20 billion yuan ($3.2 billion), with Chinese firms securing more than half of the biggest prize in the global telecoms industry this year and foreign firms winning abo…
Paralyzed Nasdaq opted for caution over speed in restoring trade
NEW YORK (Reuters) – Thirty minutes into the crippling outage that hobbled the Nasdaq stock market on Thursday afternoon, stopping all trading in $5.9 trillion worth of U.S. equities, exchange officials had the problem fixed.
Former Madoff employees want more details on affair allegations
NEW YORK (Reuters) – Five former employees of Bernard Madoff responded on Thursday to government assertions that all but one of them and Madoff were involved “in romantic and/or sexual relationships” with each other and that Madoff himself was ensnared…
Koch Brothers decide not to buy the Tribune newspapers
(Reuters) – Charles and David Koch, two of the world’s richest men, have walked away from talks to buy the Tribune Co’s newspaper assets, concluding that the papers were not economically viable.
Brazil central bank launches $60 billion currency intervention
SAO PAULO (Reuters) – Brazil’s central bank announced a currency-intervention program on Thursday that will provide $60 billion worth of cash and insurance to the foreign-exchange market by year-end, a move aimed at bolstering the country’s currency, t…
Lockheed eyes 40 percent savings on next F-35 logistics contract
WASHINGTON (Reuters) – Lockheed Martin Corp said it is close to an agreement with the Pentagon for a more portable and 40 percent cheaper version of the operations and logistics system that controls the F-35 fighter, the Pentagon’s most expensive weapo…
BHP Billiton cuts bonuses, CEO forgoes $1.5 million in shares
MELBOURNE (Reuters) – BHP Billiton Ltd has cut bonus payouts to its top executives, as total returns to shareholders fell over five years, even though the top global miner beat its target for outperforming its peers over that period.
