By Bill Allison (Bloomberg) -- Commerce Secretary Wilbur Ross denied that he engaged in insider trading when he short sold stock of a shipping company a few days before news organizations revealed it was linked to close associates of Vladimir Putin. Ross, who wasn’t required to divest his holdings in shipping companies, shorted stock in Navigator Holdings Ltd. on Oct. 31, a … [Read more...]
Commerce Secretary Wilbur Ross Short Sale of Kremlin-Linked Shipping Firm Navigator Holdings Wins Ethics Approval
Update: Wilbur Ross Denies Insider Trading in Short Sale of Russia-Linked Navigator Holdings By Bill Allison (Bloomberg) -- Commerce Secretary Wilbur Ross received approval from the top federal ethics agency for short selling the stock of a shipping company linked to close associates of Vladimir Putin. The review by the Office of Government Ethics was to … [Read more...]
EchoStar Considering Raising Offer for Inmarsat -Source
By Dinesh Nair, Manuel Baigorri and Scott Moritz (Bloomberg) -- EchoStar Corp. is considering raising its offer for rival Inmarsat Plc after its initial approach for the British satellite company was rejected as being too low, according to people familiar with the matter. EchoStar, founded by billionaire Charlie Ergen, is discussing financing for an improved offer in the … [Read more...]
The Not-So-Surprising Commodity Excluded from China’s Tariff List
By Ryan Collins (Bloomberg) -- In punching back against U.S. tariffs, China included almost all energy-related commodities on a list of its retaliatory actions. The exception: liquefied natural gas. That’s not surprising, according to a report Monday by Wood Mackenzie Ltd., a U.K.-based research firm. After an aggressive coal-to-gas switching policy was put in place by … [Read more...]
China Strikes Back At Trump Tariffs
By Andrew Mayeda (Bloomberg) The Trump administration moved the U.S. to the edge of a trade war with China by announcing tariffs on $50 billion in Chinese imports and pledging additional investment restrictions, which Beijing immediately vowed to retaliate against. The response from China signaled a rapid escalation of the dispute. The world’s No. 2 economy will impose … [Read more...]