Surplus cash costs weigh on earnings of German transport bank DVB

Reuters | March 05, 2015 | Breakbulk & Projects | Breakbulk | Liner Shipping

German transport bank DVB's 2014 net profit fell 23 percent partly due to the cost of holding surplus cash as borrowers repaid loans faster than the lender could attract new business, Chief Executive Wolfgang Driese said. Read More »

CP Rail CEO says consolidation unlikely to involve CP for now

Reuters | March 05, 2015 | Intermodal | Rail

Canadian Pacific Railway Ltd is unlikely to be involved in the consolidation of the North American industry in the short term, Chief Executive Hunter Harrison said. Read More »

Kenya says new roads, rail links will help spur economic growth to 7%

Reuters | March 05, 2015 | Intermodal | Rail

Kenya's drive to improve rail, roads and power plants will help spur economic growth to 6.9 percent in 2015 and 7 percent in coming years, its finance minister said. Read More »

Emirates says it adds $7.6 billion to EU GDP

Reuters | March 05, 2015 | Air Cargo

Dubai's flagship airline Emirates contributes 6.8 billion euros ($7.6 billion) to the European Union economy, it said, in an apparent response to criticism from rivals that government subsidies give Gulf carriers an unfair advantage. Read More »

Deutsche Bahn settles suit with three airlines, pursues three others

Reuters | March 05, 2015 | Air Cargo

Deutsche Bahn has reached an out-of-court settlement with three airlines it sued for a price-fixing cartel in the United States that it said caused damage to its freight business between 1999 and 2006, the German railways said. Read More »

US top trade official to brief House Democrats on trade

Reuters | March 05, 2015 | International Trade

U.S. Trade Representative Michael Froman will brief Democrats in the House of Representatives on trade issues at a regular caucus meeting, a person familiar with the planning of the meeting said, while staff have been invited to a separate meeting at the White House. Read More »

Huawei plans big push to sell its phones, wearable devices in US

Reuters | March 05, 2015 | International Trade

Two years after U.S. legislators branded it a national security threat, China's Huawei Technologies Co Ltd is planning a campaign to win over U.S. consumers, rolling out new mobile phones and wearable devices backed by a marketing effort. Read More »

US agriculture delegation visits Cuba, protests embargo

Reuters | March 05, 2015 | International Trade

The most important U.S. agricultural delegation to visit Cuba in more than a decade began three days of meetings on Monday, hoping to find potential business partners, while urging the U.S. Congress to lift the U.S. embargo on trade with the island. Read More »

Washington says waiting for China response on tech rule concerns

Reuters | March 05, 2015 | International Trade

The Obama administration is waiting for China to respond to concerns raised about planned new rules pushing Chinese banks to purchase high-tech products from domestic vendors, a senior State Department official said. Read More »

Weak US consumer spending points to slower first-quarter growth

Reuters | March 05, 2015 | International Trade

U.S. consumer spending fell for a second straight month in January as households continued to cut back on purchases, opting to save much of the massive windfall from cheaper gasoline.  Read More »

US trade office says monitoring Alibaba e-commerce site

Reuters | March 05, 2015 | International Trade

The U.S. trade office said it is keeping an eye on Alibaba Group Holding Ltd's consumer shopping website for sales of counterfeit and pirated goods, but refrained from putting the site back on a piracy blacklist. Read More »

Former Fed chiefs join call to keep currency rules out of trade pacts

Reuters | March 05, 2015 | International Trade

A group of prominent U.S. economists, including former Federal Reserve chiefs, Alan Greenspan and Ben Bernanke, wrote to congressional leaders to support key trade legislation but warn against including currency rules in trade deals. Read More »

Europe will fight for own standards in US trade talks

Reuters | March 05, 2015 | International Trade

Europe will insist on upholding its own standards in free trade talks with the United States, German Chancellor Angela Merkel said, adding she supported the European Commission's efforts to get a deal this year. Read More »

US optimistic global trade deal will come into force this year

Reuters | March 05, 2015 | International Trade

The United States expects a global deal to cut customs red tape and streamline import procedures to come into force this year, a senior trade official said. Read More »

Unions take campaign against trade deals to Capitol Hill

Reuters | March 05, 2015 | International Trade

Trade unions stepped up their campaign against legislation to streamline the passage of trade deals through the U.S. Congress, appealing to lawmakers to oppose the plan. Read More »

Mexican company gets deal to invest in Cuba development zone

Reuters | March 05, 2015 | International Trade

A Mexican meat processing firm has become the first international company to get approval for an investment project in Cuba's first special economic development area, Mexico's foreign ministry said. Read More »

Brazil reports record trade gap for February as export prices drop

Reuters | March 05, 2015 | International Trade

Brazil posted its biggest trade deficit ever for the month of February as prices of key exports continued to drop, government data showed. Read More »

Mexico willing to renew Brazil auto pact, with changes

Reuters | March 05, 2015 | International Trade

Mexico is willing to extend an auto export quota pact with Brazil for up to two more years, provided restrictions are eased when the current agreement ends at midnight on March 18, an official familiar with the talks said. Read More »

Royal Mail announces China link-up through Alibaba’s Tmall

Reuters | March 05, 2015 | International Trade

Britain's Royal Mail is joining Alibaba Group Holding Ltd's Tmall Global's online marketplace, hoping to link small British companies with Chinese consumers and boost trade for its overseas parcels business. Read More »

Korea trade deal bears fruit for Australian horticulture growers

Reuters | March 05, 2015 | International Trade

Australian horticulture exports to Korea have jumped since the start of a free trade agreement late last year, Australian officials said on Tuesday, boosting hopes for a similar benefit from a trade deal with China. Read More »