European manufacturers including Daimler, Volvo and Renault could be hit with fines surpassing the EU record 1.4 billion euro (U.S. $1.6 billion) penalty imposed in 2012 over television-tube price fixing, according to a report from the Financial Times.
Industrial production in South Korea fell more than economists expected as weak exports and corporate restructuring of shipbuilders continue to hurt demand and business sentiment.
United States GDP grew slightly more than initially expected in the first quarter of 2016, and durable goods orders ticked up in April, according to the most recent data from the Department of Commerce.
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The proposed alliance would become a dominant player in the three major east-west trades, beating out total capacity currently offered by the 2M Alliance on those trade lanes, according to an analysis from BlueWater Reporting.
Neither Ports America nor owner Oaktree Capital will discuss a possible sale of the nation's largest port terminal operator, but Yildirim Holdings President Robert Yildirim said talks have advanced to the "second round."
Matt Cox, chief executive officer of the Jones Act ocean carrier, says he would not be surprised if industry losses in 2016 exceed $10 billion, but Matson, which operates primarily between the U.S. mainland, Hawaii and Alaska, has limited exposure.