Business Industrials

  • *13 ships waiting outside Busan port as capacity strained. SEOUL, Sept 21- The largest shareholder of Hanjin Shipping Ltd agreed on Wednesday to lend 60 billion won to help unload cargo that has been stranded since the world's seventh-largest container carrier collapsed late last month. A rehabilitation plan for Hanjin is "realistically impossible" if top...

  • WARSAW, Poland— Air China has started regular flights between Beijing and Warsaw, the first ever direct connection to Poland by any Asian airline. Poland's main airline, LOT, is already flying to Beijing and the number of passengers has been growing as business ties intensify. Warsaw's Chopin Airport wrote in a tweet Wednesday that Air China launched its service...

  • *13 ships waiting outside Busan port as capacity strained. A rehabilitation plan for the world's seventh-largest container carrier is "realistically impossible" if top priority debt such as backlogged charter fees exceed 1 trillion won, the Seoul Central District Court said, South Korea's Yonhap newswire reported on Wednesday. Some 13 Hanjin container...

  • Sept 20- Failed South Korean cargo line Hanjin Shipping Co Ltd found the money to unload a full container ship waiting outside a New York- area port. The National Retail Federation on Tuesday urged U.S. But the Miami has not been allowed in port because of a dispute about empty Hanjin shipping containers, which the Miami normally would load up as ballast to exit port.

  • CHICAGO, Sept 20- Package delivery company FedEx Corp said on Tuesday quarterly profit rose more than expected on stronger revenue in its express, ground and freight business units, lifting its stock by almost 3 percent. Excluding TNT integration costs, FedEx said it expected full-year fiscal 2017 earnings of $11.85 to $13.35 per share. Memphis- based FedEx...

  • Sept 20- Failed South Korean cargo line Hanjin Shipping Co Ltd has found the money to unload a full container ship waiting outside a New York- area port. The National Retail Federation on Tuesday urged U.S. But the Miami is not being allowed in port because of a dispute about empty Hanjin shipping containers, which the Miami normally would load up as ballast to exit...

  • Sept 20- Lennar Corp, the second-largest U.S. homebuilder, posted its slowest growth in orders in more than a year as it grapples with choppy demand for higher-priced homes in Houston, which has been hit hard by weak oil prices. Lennar's home sales in Houston fell for the fourth straight quarter as a slump in oil prices has weighed on the region's economy.

  • *Housing starts fall 5.8 percent in August. WASHINGTON, Sept 20- U.S. housing starts fell more than expected in August as building activity declined broadly after two straight months of solid increases, but a rebound in permits for single-family dwellings suggested demand for housing remained intact. Groundbreaking decreased 5.8 percent to a seasonally...

  • WASHINGTON, Sept 20- U.S. housing starts fell more than expected in August as building activity declined broadly after two straight months of solid increases, but a rebound in permits for single-family dwellings suggested demand for housing remained intact. Groundbreaking decreased 5.8 percent to a seasonally adjusted annual pace of 1.14 million units, the...

  • WASHINGTON— Homebuilders pulled back on construction in the South, causing the pace of August housing starts nationwide to fall to their lowest level in three months. In August, ground breakings dropped 5.8 percent to a seasonally adjusted annual rate of 1.14 million from 1.21 million in July, the Commerce Department said Tuesday. Jennifer Lee, a senior...

  • WASHINGTON— The Commerce Department reports on August U.S. home construction Tuesday at 8:30 a.m. Eastern. SLIGHT PULLBACK: Economists believe housing starts dipped 0.9 percent to a seasonally adjusted annual rate of 1.19 million last month. Starts reached the healthy annual pace of 1.21 million in July, the strongest performance in six months.

  • DUBAI, United Arab Emirates— The Mideast's biggest airline, which touts luxuries like onboard showers and an extensive movie selection, is adding something a bit more down-to-earth for those in the back of the plane: charges to pick your own seat ahead of time. Dubai- based Emirates said on Tuesday that the new fees will apply to its two lowest fare categories of...

  • TORONTO, Sept 19- Canadian autoworkers' union president Jerry Dias once publicly invited a critic to kiss his behind, but the tough-as-nails image overshadows a deft touch in negotiations, people familiar with him said. GM has said it will not commit to building new models in Canada until it has a contract in hand. GM has been the most reluctant of the three...

  • BRASILIA, Sept 19- Brazilian airlines are up in arms over a decision by Brazil's tax authority to list Ireland as a tax haven, which means about 1 billion reais in new taxes on aircraft leases for carriers struggling to regain profitability. Brazil's tax authority announced on Thursday it was adding Ireland, Austria, Curaçao and Saint Martin to its list of...

  • *Rising freight rates boost to rivals like COSCO Shipping. *COSCO Shipping among most indebted- Thomson Reuters data. Formed through the merger of China's two largest shipping companies in February, COSCO Shipping owns the world's fourth-largest container shipping fleet by capacity, run by its flagship listed unit, China COSCO Holdings.

  • SEOUL, Sept 19- All Hanjin Shipping Co Ltd chartered vessels that have completed unloading their cargo have been told to cancel their charter agreements and return the ships to the shipowners, a South Korean judge said on Monday. The company returned three bulk carriers earlier this month, a Hanjin Shipping spokeswoman said on Monday. Current delays in...

  • Sept 16- Schneider National Inc, one of the largest truckload carriers in the United States, is exploring an initial public offering that could value it at as much as $5 billion, including debt, people familiar with the matter said on Friday. The company may seek to raise as much as $700 million in its IPO, one of them added. In June, Schneider National acquired Lodeso...

  • Sept 15- A lawyer for Hanjin Shipping Co Ltd, the failed South Korean container carrier, said on Thursday a U.S.-bound vessel was held "hostage" by disputes over payments, adding to the struggles in getting $14 billion of cargo off its ships stranded at sea. "There is no clear visibility yet on what will happen with this business," Hanjin lawyer Ilana Volkov said at a...

  • CAPE CANAVERAL, Fla., Sept 15- SpaceX on Thursday said efforts to develop and certify a space taxi for NASA are not being slowed by an investigation into a launch pad fire that destroyed its rocket and a $200 million Israeli communications satellite. Boeing Co and SpaceX, owned and operated by technology entrepreneur Elon Musk, are building spaceships to fly NASA...

  • Sept 15- A lawyer for Hanjin Shipping Co Ltd, the failed South Korean container carrier, said on Thursday a U.S.-bound vessel was held "hostage" by disputes over payments, adding to the struggles in getting $14 billion of cargo off its ships stranded at sea. "There is no clear visibility yet on what will happen with this business," Hanjin lawyer Ilana Volkov said at a...