IAG Cargo Q1 2015 financial results

AJOT | April 30, 2015 | Air Cargo

IAG Cargo has announced its Q1 results from January 1 to March 31, 2015, reporting commercial revenue[1] of €246m versus €250m for the same period last year. This was achieved on a capacity reduction of 8 per cent. Read More »

Weak coal, strong dollar undermine Norfolk Southern profit

Reuters | April 30, 2015 | Intermodal | Rail

U.S. railroad Norfolk Southern Corp reported a lower net profit, sparked by a drop in coal volumes as utilities burned more lower-cost natural gas and U.S. exporters were hurt by the strong dollar. Read More »

China, India, 11 others on US list for intellectual property concerns

Reuters | April 30, 2015 | International Trade

China and India remain on a U.S. priority watch list for lax rules on copyright, trade secrets and other intellectual property rights (IPR) violations in an annual review of trading partners published by the U.S. trade representative. Read More »

US senator bent on keeping currency rules out of fast track

Reuters | April 30, 2015 | International Trade

The chairman of the U.S. Senate committee responsible for trade said he will fight to keep lawmakers from adding tough rules against currency manipulation to legislation meant to ease passage of a Pacific trade pact. Read More »

Talks on EU-US trade deal to stretch into 2016

Reuters | April 30, 2015 | International Trade

Talks between the European Union and United States on a transatlantic trade accord will stretch into 2016, the EU's chief negotiator said on Tuesday, adding that the discussions were about to enter a "more difficult" and "intense" stage. Read More »

Wal-Mart to expand China store network by nearly a third after growth stalls

Reuters | April 30, 2015 | International Trade

Wal-Mart Stores Inc plans to expand its footprint in China by nearly a third by opening 115 new stores by 2017, the firm's chief executive said, in a renewed push to lure China's grocery shoppers despite slowing growth. Read More »

Myanmar’s formerly blacklisted businessman urges US to delist others

Reuters | April 30, 2015 | International Trade

The first Myanmar businessman to be removed from a U.S. blacklist since the country emerged from military rule said that the United States should delist more people so they can partner with American companies to develop the economy. Read More »

US to press China on infrastructure bank governance standards

Reuters | April 30, 2015 | International Trade

The United States will press China at upcoming bilateral talks to spell out how it will make a new Asian development bank live up to international governance standards, a senior Treasury official said. Read More »

Tesla to invest in charging infrastructure in Japan

Reuters | April 30, 2015 | International Trade

U.S. electric carmaker Tesla Motors plans to make a big investment in charging infrastructure throughout Japan, the company's CEO Elon Musk told the Nikkei in an interview. Read More »

GM likely to cease vehicle production in Venezuela in July

Reuters | April 30, 2015 | International Trade

General Motors Co said it is likely it will cease vehicle production in Venezuela in July as the automaker joins other U.S. corporations in taking action to shield their profits from the South American country's volatile currency. Read More »

Chinese steel exports to stay high this year

Reuters | April 30, 2015 | International Trade

China's steel exports will remain competitive and are unlikely to fall much this year, as low prices and firm demand offset the scrapping of an export tax rebate on certain products, the China Iron & Steel Association (CISA) said. Read More »

China rivals vie for state backing to buy HP unit

Reuters | April 30, 2015 | International Trade

The bidding for a controlling stake in Hewlett-Packard Co's data-networking business in China, worth more than $2 billion, has thrown up a rare tussle between two Chinese state-backed firms who are wrangling over which has Beijing's backing. Read More »

China to reduce import tariffs on some consumer goods to boost domestic spending

Reuters | April 30, 2015 | International Trade

China will reduce import tariffs on some consumer goods by the end of June to help boost domestic spending and support the slowing economy at a time when record numbers of cash-rich Chinese tourists are splurging overseas. Read More »

Saudi Arabia bans poultry meat from Canadian province Ontario

Reuters | April 30, 2015 | International Trade

Saudi Arabia, the world's second-largest importer of chicken broiler meat, has banned imports of poultry meat and egg products from the Canadian province of Ontario due to the presence of avian influenza on three Ontario farms. Read More »

Argentine port strike may cut soy flow, raise world food prices

Reuters | April 30, 2015 | Ports & Terminals

Argentina's main grains port of Rosario was paralyzed at midday on Wednesday by an open-ended wage strike by boat captains needed to help dock incoming cargo ships, the country's port management chamber said. Read More »

XPO to emulate US logistics success in Europe with French deal

Reuters | April 30, 2015 | Transport Intermediaries

A conference, a home visit and a few trips to Paris brought about the marriage of U.S.-based XPO Logistics Inc and France's Norbert Dentressangle SA that will allow XPO to replicate its domestic success in Europe. Read More »

Private settlements in US air cargo price-fixing top $1 billion

Reuters | April 30, 2015 | Air Cargo

EVA Airways, one of several companies accused of price-fixing air cargo shipments, has settled U.S. litigation by agreeing to pay $99 million, bringing total settlements in the class action lawsuit to more than $1 billion, two law firms said on Wednesday. Read More »

Key Argentine grains ports paralyzed for 2nd day by wage strike

Reuters | April 30, 2015 | Ports & Terminals | Ports | Dry Bulk Port

Argentina’s grains hub of Rosario was paralyzed on Thursday by the second day of pay strikes by unions representing stevedores and other workers needed to dock and load recently-harvested soy and corn, union and management spokesmen said. Read More »

Vale signals cut in production growth as iron price slumps

Reuters | April 30, 2015 | Breakbulk & Projects | Breakbulk

Brazil’s Vale SA said on Thursday it could reduce forecasted iron ore production by up to 30 million tonnes over the next two years, as the miner tries to resuscitate margins in the midst of a severe price slump. Read More »

Baltic sea freight index down on muted vessel activity

Reuters | April 30, 2015 | Liner Shipping

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday as vessel activity remained weak. Read More »