You know things are bad in the ship-building business when... amid considerably larger than expected losses, China's COSCO announced that it has dis-assembled 8 vessels in January alone (including 3 bulk carriers) and will be decommissioning and disposing of...
The slow-roll implementation of Obamacare threatens to close U.S. commercial ports on the West Coast. The 29 ports, which handle 70 percent of maritime imports from Asia, were closed over the weekend after months of contentious contract negotiations. The ports...
One week ago, when previewing what may be the first lockout of the West Coast Ports since 2002, we cited the Retail Industry Leaders Association who, realizing that failure to reach an agreement between the dockworker union and their...
Greece’s finance minister Yanis Varoufakis has spelled out the negotiating strategy of the Syriza government with crystal clarity. “Exit from the euro does not even enter into our plans, quite simply because the euro is fragile. It is like a...
It's been an odd few days for Greece's new PM Alexis Tsipras. From being lambasted by Jeroen Dijsselbloem, shunned by Angela Merkel's henchmen, holding hands with Jean-Claude Juncker, and losing a key funding channel from Mario Draghi; Tsipras' anti-austerity...
The falling of an iconic company in the US, radio-shack is done. Thursday they filed chapter 11 and closed over half of their stores. NEW YORK (CNNMoney) — Nearly a century after it opened its first store and sent out...
FRANKFURT, Germany (AP) — Greece wants a break from the terms of its eurozone bailout loans, saying they're suffocating its economy. Germany, the biggest backer of two bailouts worth 240 billion euros (currently $271 billion), says Athens must pay what...
WASHINGTON, Feb 2 (Reuters) - President Barack Obama on Monday proposed a $3.99 trillion budget for fiscal year 2016 that sets up a battle with Republicans over programs to boost the middle class that are funded by higher taxes...
Nunavut is the edge of the world in a lot of ways — it’s the farthest-north part of Canada, a broken-up spray of frozen land coming off the top of the country like a very icy mohawk. In terms...
The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin. That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during...
A note arrived a few days ago from one of my best informants in Europe. He had just met across a hotel dining table with a senior German executive, and the topic quickly turned to the crisis in Ukraine...
The first time the phrase Emergency Liquidity Assistance, or ELA, was used in the context of Greece was in August 2011, when Greece was imploding, when its banking sector was on (and past) the verge of collapse, and just...