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Neptune Orient Lines, parent of ocean carrier APL, is "totally focused" on returning the liner business to profitability, NOL CEO Ng Yat Chung said during a call with securities analysts.
The World Trade Organization’s Information Technology Agreement was expanded last week to include additional tariff cuts on high-tech trade.
The future of the Export-Import Bank is still in doubt because it depends on passage of a long-term transportation bill that is expected to pass the Senate, but which faces strong opposition in the House.
The second quarter financial results of ocean carriers NYK, MOL and "K" Line reflected a weak Asia-Europe market and strong supply pressure.
The U.S. Senate also passed a long-term highway bill that will be debated by the House after the summer break.
The European Commission will now conduct an in-depth analysis under the EU's merger regulations before coming to a decision on FedEx's $4.8 billion offer to buy TNT.