Latest News
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Spain's Navantia to purchase shipyards of Titanic contractor Harland & Wolff
Spanish stateheld shipbuilder Navantia will acquire the shipyards of Britain's. Harland & & Wolff, the Belfastbased company best understood for. developing the Titanic, the British government stated on Thursday. The government said in a statement the offer, which is. subject to regulative approval, would secure all 4 of Harland. & & Wolff's shipyards - in Belfast, Arnish and Methil in Scotland,. and Appledore in southwest England - and protect around 1,000. tasks. This financial investment is fantastic news for Belfast, for the Northern. Ireland economy and, above all, for Harland and Wolff's hugely. competent shipbuilding workforce, said Northern Ireland minister. Hilary Benn. In a different declaration, Navantia confirmed the offer and. said it anticipates to finish it by the end of January. Neither Navantia nor the British government revealed the. cost the Spanish business will pay for the shipyards. In September, Harland & & Wolff contacted administrators after. failing to secure financing to run business, as energy cost. rises and wage increases consumed into profits and rose debt. Trading in its shares on the London Stock Exchange was. stopped in October and in July the British government declined. the business's request for a credit center of 200 million. pounds ($ 253 million). Harland & & Wolff, established in 1861, signed a production. subcontract with Navantia in 2015 relating to the 1.6 billion. pound-project to construct support ships for Britain's Royal Navy. The government said the offer would guarantee three ships to. transportation munitions, spares and products to UK warship. would be developed and delivered.
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Amazon employees go on strike in US ahead of Christmas rush as union seeks agreement talks
Amazon.com employees at seven U.S. centers strolled off the job early on Thursday during the vacation shopping rush, intending to push the merchant into contract talks with their union. Storage facility employees in cities consisting of New york city, Atlanta and San Francisco are participating in the biggest strike against Amazon, said the International Brotherhood of Teamsters, which represents about 10,000 employees at 10 of the firm's facilities. If your bundle is delayed throughout the holidays, you can blame Amazon's pressing greed, Teamsters' General President Sean O'Brien stated late on Wednesday. We gave Amazon a clear deadline to come to the table and do right by our members. They disregarded it. This strike is on them. The union had provided Amazon a Dec. 15 deadline to begin settlements and storage facility employees had just recently voted to license a strike. Amazon said it does not anticipate any effect to its operations. The union has deliberately deceived the public and threatened,. intimidated and attempted to coerce workers and third-party. motorists to join them, a company representative said. Unionized facilities account for simply 1% of Amazon's hourly. labor force and locations such as New York City have multiple. warehouses and smaller delivery depots, which might assist Amazon. blunt any potential strike impact. Observers said Amazon was not likely to come to the table to. deal as that might open the door to more union actions. It. utilizes more than 1.5 million people globally and has said it. prefers direct relationships with employees. The merchant's shares were trading slightly higher. in premarket hours, an indication that financiers do not expect a big. disturbance from the strike. Previously this year, the company revealed a $2.1 billion. investment to raise pay for fulfillment and transportation. staff members in the U.S., increasing base incomes for workers by at. least $1.50 to around $22 per hour, a roughly 7% boost.
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South Korea's NOFI purchases estimated 136,000 T corn, traders say
Leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought an estimated 136,000 metric tons of animal feed corn in a worldwide tender on Thursday, European traders stated. The corn was bought in 2 consignments estimated at 68,000 lots. One was purchased an estimated straight-out price of $234.19 a. heap cost and freight (c&& f) for March 15 arrival, the second at. an approximated outright cost of $234.90 a c&& f for March 25. arrival. The seller of both consignments was thought to be trading. home Viterra. Both have an additional $1.50 a ton additional charge for. extra port discharging. If the March 15 consignment is sourced from the U.S. Pacific. Northwest coast, delivery is looked for between Feb. 10 and March 1,. if from the U.S. Gulf in between Jan. 21 and Feb. 9, from South. America in between Jan. 16 and Feb. 4, or from South Africa in between. Jan. 26 and Feb. 14. If the March 25 consignment is sourced from the U.S. Pacific. Northwest coast, shipment is in between Feb. 20 and March 11, from. the U.S. Gulf between Jan. 31 and Feb. 19, from South America. between Jan. 26 and Feb. 14, or from South Africa between Feb. 5. and Feb. 24. Asian purchase interest has been triggered as Chicago corn. futures have actually fallen from their greatest in more than 5 months. struck last week, due in part to forecasts of smaller sized U.S. stocks. Two other Korean corn purchases were also reported on. Thursday. Reports reflect assessments from traders and further. estimates of prices and volumes are still possible later on.
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Tunisia gets deals in soft wheat, durum tender, traders say
The most affordable rate used in the worldwide tender from Tunisia's state grains company on Thursday to purchase around 100,000 metric lots of soft wheat was thought to be $255.39 a heap cost and freight (c&& f). included, according to initial assessments from European. traders. The most affordable wheat deal was believed to have been submitted. by trading home Viterra for 25,000 loads, they said. Other soft wheat offers were reported from Viterra for other. 25,000 ton consignments at $256.39 and $257.39 both per heap c&& f. Viterra was also stated to have actually made an offer for the full 100,000. lots at $257.67 a lot c&& f. Trading home Buildcom likewise offered soft wheat in between. $ 256.77 and $257.77. Many other deals were over $260. The most affordable offer for 100,000 lots of durum wheat likewise looked for. in the tender was examined at $339.49 a ton c&& f. The offer was. thought to have been submitted for 25,000 tons by Viterra,. traders said. Casillo provided the complete 100,000 tons of durum at $342.67 a. heap c&& f. The wheat and durum are both looked for in 4 25,000 heap. consignments for 2025 delivery between Jan. 15 and Feb. 25,. depending upon origin supplied. In its last reported tender on Nov. 27, Tunisia's state. grains agency purchased about 100,000 tons of soft wheat and. about 100,000 lots of durum after seeking deals for the very same. volume. Offers are still being thought about and no purchase has yet. been reported. The lowest deal is not always accepted if. conditions connected to it are considered unattractive. Reports show assessments from traders and even more. quotes of prices and volumes are still possible later on.
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3 South Korean groups buy 180,000 T soymeal, traders say
3 South Korean groups purchased an overall 180,000 metric tons of soymeal in to be sourced from optional origins in a deal on Thursday, European traders said. Three 60,000 ton consignments were purchased $355.95 and $ 355.85 a heap expense and freight (c&& f) included and also consisting of a surcharge for extra port dumping, they stated. Buyers were the Major Feedmill Group (MFG), the Feed Leaders' Committee (FLC) and Korea Feed Association (KFA). The MFG purchased one consignment from trading home Bunge for July 6 arrival, the FLC one consignment from Cofco for June 29 arrival and the KFA's Busan area one likewise from Cofco for July 5 arrival. The soymeal is expected to be sourced from either the United States, South America or China. Reports show assessments from traders and further price quotes of rates and volumes are still possible later.
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South Korea's MFG purchases about 67,000 T corn in private deal
South Korea's Major Feedmill Group (MFG) bought an approximated 67,000 metric lots of animal feed corn in a private deal on Thursday without releasing an worldwide tender, European traders said. One consignment was bought at an estimated $246.99 a heap expense and freight (c&& f), also including an additional charge for extra port discharging. The purchase was expected to be sourced just from South America with an additional rate surcharge of about $10 a load for high South American quality. The seller was thought to be trading home CJ International, with arrival in South Korea around April 5 and shipment from South America in between Feb. 1 and March 1. The offer followed a purchase of 136,000 lots of corn in an global tender by Korean importer NOFI on Thursday. Reports show evaluations from traders and further estimates of prices and volumes are possible later on.
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South Korean mills purchase 86,800 tonnes of wheat from US traders, say traders
In an international auction held on Thursday, European traders reported that South Korean flour mills purchased an estimated 86.800 metric tonnes of milling grain to be sourced in the United States. Purchased in two consignments, FOB for shipment March/April 2020. Uncertainty remained as to whether the mills also purchased the 40,000 tons of steel that they had requested from Canada. Viterra was reportedly paid 50,000 tons for a consignment that would be shipped between March 15 andApril 15. Traders said that the purchase included soft white wheat with a protein content between 9.5%-11%, bought for an estimated $228.50 per ton FOB; hard red winter wheat with a protein of 11.5%, bought for $248; and northern spring wheat, which has 14%, bought at $270.80. United Grain Corporation was reported to have purchased a second 36,800-ton consignment from the trading house for shipment between 1 April and 15 April. Traders said that the second consignment included soft white wheat with a protein content between 9.5% to 11%, bought for an estimated $230.1 per ton FOB; hard red winter wheat with 11.5% protein, bought for $239.6; and northern spring wheat, which has 14% protein, bought at $274.6. The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is the reporter. Mark Potter (Editing)
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Taiwan's China Airlines divides $11.9 bln aircraft offer in between Boeing and Plane
Taiwan's China Airlines will split an order for its longhaul fleet renewal in between Boeing and European competing Plane and purchase trucks from the U.S. planemaker in a closely seen offer worth practically $12 billion. Taiwan's biggest provider had been thinking about the 777X, of which the 777-9 is an alternative, and A350-1000 as replacements for its fleet of 10 Boeing 777-300ERs and to provide capacity for future development, sources have told Reuters previously. China Airlines stated on Thursday that it would buy 10 Boeing 777-9 airplane and 10 Jet A350-1000s along with 4 777-8 truck airplane for $11.9 billion, with shipments for the new airplane beginning with 2029. China Airlines has actually been actively planning its fleet size and is gradually broadening its existence in the international guest and cargo markets, it said in a declaration. The A350s will be powered by Rolls-Royce engines while the 777-9s will be powered by GE engines, it added. Multibillion-dollar deals for new airplane frequently need to take political along with company considerations into account - specifically in the case of Taiwan, offered its worldwide situation and pressure it faces to succumb to China's. sovereignty claims, which are turned down by the democratically. elected federal government in Taipei. The United States is Taiwan's crucial global. backer and arms supplier in spite of a lack of official diplomatic. ties, and China Airlines' majority owner is the Taiwan. government. China Airlines Chairman Hsieh Shih-chien said in October. that the carrier was not facing any political pressure on the. decision about its long-haul fleet. China Airlines shares closed 1% down on Thursday, in line. with the more comprehensive index.
New Asian undersea cable television ADC prepared to operate, developer states
A new undersea fiberoptic cable connecting Japan to Singapore with branches to other Asian countries is all set for operation this month, among the designers stated on Thursday.
The Asia Direct Cable (ADC), which has been under development for years, was inaugurated on Wednesday at a. event in Hanoi, Vietnam's capital, Vietnamese military-run. telecom company Viettel said.
In addition to Viettel, the 10,000 km-long (6,210 miles). cable television, has actually been developed by SoftBank, China Telecom. Global, China Telecom Corporation, China Unicom. , Singtel, TATA Communications,. National Telecom and PLDT, Viettel Solutions - an unit. of Viettel - said in a declaration.
Japan's NEC is the specialist of the job.
The cable television will have branches to Thailand, Vietnam, Hong. Kong, China and the Philippines.
It will be Vietnam's sixth undersea cable television. The nation plans. to have 15 by 2030.
Last week, Reuters reported another job was being. talked about between Vietnamese and Singaporean partners.
ADC will support significantly bandwidth-intensive. applications in the region, stated Tomonori Uematsu, NEC's senior. vice president.
(source: Reuters)