By Elisha Bala-Gbogbo (Bloomberg) -- The Nigerian navy said pirate attacks in the country’s territorial waters fell 68 percent year-on-year in the first half of this year. “In the first half of 2016, 53 pirate attacks on shipping were recorded with 36 successful,” Suleman Dahun, the navy’s director of information, said Wednesday in an emailed statement. “In the corresponding … [Read more...]
How an Alaskan Fisherman Turned $80 Into $1.1 Billion by Popularizing Trash Fish
By Alex Sazonov (Bloomberg) -- Chuck Bundrant was a college freshman with $80 in his pocket when he drove halfway across the country to Seattle to earn a few bucks fishing. The year was 1961. He hasn’t stopped fishing since. And today, Bundrant, the founder and majority owner of Trident Seafoods, is worth at least $1.1 billion, according to the Bloomberg Billionaires … [Read more...]
U.S., China Talks Get Rocky Start as Secretary Ross Assails Trade Gap
By Saleha Mohsin, Andrew Mayeda and Ye Xie (Bloomberg) -- Talks between the world’s two biggest economies got off to a tense start as U.S. Commerce Secretary Wilbur Ross upbraided China over the trade imbalance and both governments canceled their closing press conferences. At opening remarks between the two sides, Ross complained about the trade gap with China in unusually … [Read more...]
Commerce Secretary Ross Urges China to Give U.S. Companies Equal Footing on Trade
By Saleha Mohsin and Ye Xie (Bloomberg) -- China’s maturing economy needs to further open markets to American investors and exporters so they can compete on equal footing, U.S. Commerce Secretary Wilbur Ross said. “There remains serious imbalances which we must work to rectify,” Ross said at an event in Washington on Tuesday organized by the U.S.-China Business Council. “It … [Read more...]
Mexico Delays Next Oil Auction to Let Huge New Find Sink In
By Adam Williams (Bloomberg) -- Mexico will delay its next offshore oilfield auctions by a month, giving international bidders more time to evaluate recent major crude discoveries that highlight the potential value of the assets. A new billion-barrel find announced last week "confirms that the Mexican side of the Gulf of Mexico is very prolific," said Juan Carlos Zepeda, … [Read more...]
Aircraft Carrier Trump Will Celebrate Still Needs Lots of Work
By Tony Capaccio (Bloomberg) -- President Donald Trump is scheduled to preside over the commissioning this week of the Navy’s newest aircraft carrier, the Gerald R. Ford, even though it won’t be ready for its first combat deployment for at least four years, according to congressional auditors. The $12.9 billion carrier, designated CVN-78, was delivered in May “with a … [Read more...]
Oil Traders Turn Bespoke Crude Tailors in Offshore Megastore
By Serene Cheong (Bloomberg) -- The biggest oil traders feeling the squeeze in a world awash with crude are seeking an edge by offering tailor-made cargoes in an offshore megastore. By selling bespoke from a fleet of ships anchored off Singapore and Malaysia, the likes of Vitol Group, Trafigura Group, Glencore Plc and Gunvor Group are seeking to lure buyers who are … [Read more...]