Business

Amid opaque tariff process, questions arise as to why some companies receive exemptions

As of Friday, tariffs on $75 billion of imported goods such as soybeans, cars and crude oil will be reduced by half as part of a trade war cease-fire. While that’s good news for some, it still leaves thousands of American companies paying a higher price for goods integral to their business — which, in […]

Business

Judge temporarily blocks Microsoft’s Pentagon cloud contract after Amazon suit

A judge ordered Thursday a temporary block on the JEDI cloud contract in response to a suit filed by Amazon. In April, the Defense Department announced that Amazon and Microsoft were the two finalists to provide the contract, ruling out other contenders like IBM and Oracle. Then in July, President Donald Trump said he was […]

Business

Jet market oracle Tinseth bows out with Boeing at crossroads

Years ago, when Randy Tinseth was still running Boeing’s sales account for United Airlines, the plane company’s designers pulled him aside. “They called me in and said we want to show United this interesting product and we can’t tell you about it until we get there,” Tinseth recalled. “We get to United and this dented […]

Business

Royal Caribbean cancels 18 cruises, warns coronavirus hit to yearly profit

Royal Caribbean Cruises Ltd (RCL.N) on Thursday said it had canceled 18 cruises in Southeast Asia and joined larger rival Carnival Corp (CCL.N) in warning that its full-year earnings would be hit by the coronavirus outbreak. The epidemic, which originated in China’s Hubei province and has killed more than 1,300 people, has taken a toll […]

Business

Emerson says will not pursue a break-up following internal review

Emerson Electric Co (EMR.N) told investors on Thursday it would not pursue a break-up following a review it launched last year into whether to separate its industrial automation operations from its air-conditioning business. Breaking up Emerson was one of the demands made by hedge fund D.E. Shaw & Co LP last October, when it announced […]

Business

Exclusive: Venezuela’s PDVSA to unload $57 million oil cargo disputed by rival Citgo boards

Venezuela’s state-run oil company PDVSA this week plans to discharge nearly 1 million barrels of crude stranded for over a year at sea over U.S. sanctions against the company and an ownership dispute with its refining unit, Citgo Petroleum. At one point last year there were about a dozen cargoes in similar straits, either unauthorized […]

Business

Fire damage at Exxon’s second largest U.S. refinery leaves restart uncertain

Exxon Mobil Corp does not have a timeline for restarting fuel-producing units at its second-largest U.S. refinery following a fire Wednesday that cut production, sources said, as the shutdown boosted gasoline prices on Thursday. Some units remain in operation at the refinery including a crude distillation unit (CDU), gasoline-producing fluidic catalytic cracking unit (FCCU) and […]