Ship that toppled off Georgia to be removed in pieces; US cleared to impose sanctions in Airbus tiff |
Crippled cargo ship won’t be refloated
BRUNSWICK, Ga. — Marine salvage experts seeking to remove an overturned cargo ship close to Georgia’s seacoast say they will haul it away in pieces because it cannot be safely righted and refloated intact.
Their Unified Command said the hull of the 656-foot Golden Ray would be dismantled, along with the ship’s other components and cargo and taken away in what it described as a “complex situation.” The vessel overturned Sept. 8 near the Port of Brunswick. Rescuers drilled into the hull’s steel plates and rescued four crewmen trapped in the bowels of the ship more than a day in scorching heat and darkness.
The Coast Guard has said it would take “weeks, if not months” to remove the ship, which overturned while heading to sea.
WTO clears sanctions in Airbus case
GENEVA — The World Trade Organization has formally given the go-ahead for the United States to impose trade sanctions on up to $7.5 billion worth of European Union goods following a ruling that European plane maker Airbus received illegal subsidies.
The move by the trade body’s dispute settlement body was largely a formality after the long-awaited Oct. 2 ruling by a WTO arbitration panel. For that ruling to be blocked, every country including the United States that attended the settlement body’s meeting Monday would have had to reject it.
The record $7.5 billion ruling found that the European bloc and member states Britain, France, Germany and Spain failed to remove improper subsidies for Airbus that hindered sales by U.S. rival Boeing.
The Trump administration plans to impose the sanctions starting Friday.
China auto sales sink in Sept.
BEIJING — China’s auto sales sank 6.3 perecent in September from a year earlier and purchases of electric cars tumbled 34.2 percent at a time when the industry is spending heavily to meet government sales quotas for the technology, an industry group reported Monday.
The global industry’s biggest market is on track to contract for second year, dragged down by weak consumer demand in the face of a tariff war with Washington and cooling economic growth.
Sales of sedans, SUVs and minivans in the global industry’s biggest market fell to 1.9 million, according to the China Association of Automobile Manufacturers, an industry group. Total sales, including trucks and buses, retreated 5.2 percent to 2.3 million.
Demand has suffered from consumer jitters over a trade war with Washington and slowing economic growth.
The industry has been reporting negative growth every month since June 2018.
Sales of electric cars fell to 80,000 units, hurt by a decline in government subsidies that helped to make China the biggest market for electrics.
For the first nine months of the year, auto sales were off 11.7 percent at 15.2 million.
Report: Softbank may take WeWork reins
NEW YORK — Japanese investment firm Softbank could take control of WeWork as part of a financial package to address the company’s cash crunch since its botched effort to sell the public its stock, according to The Wall Street Journal.
The deal would further sideline co-founder Adam Neumann, who resigned as chief executive last month but still wields influence over the company because his shares carry higher voting power. SoftBank, the office-sharing company’s biggest investor, is aiming to invest several billion dollars in new equity and debt, The Journal reported, citing people familiar with the matter.
WeWork declined to comment on the Softbank package. In statement, the New York company said it has retained a major Wall Street institution to arrange financing and was meeting with “60 financing sources.” Softbank declined to comment.
Uber says it’s laying off 350 workers
NEW YORK — Uber is laying off 350 employees from its food delivery, autonomous vehicles, safety, insurance and other teams.
The move is the latest in a string of staff reductions at the ride-hailing giant since its ill-fated initial public offering.
CEO Dara Khosrowshahi said in an email to employees Monday that it would be the last wave of the layoff process which began months ago.
Uber laid off 435 employees on its product and engineering teams in September. In July, 400 employees in the marketing department lost their jobs.
Khosrowshahi said everyone has to play a part in establishing a new normal, by identifying and eliminating duplicate work and taking actions when expectations aren’t being met.
N.M. forecast to lead in pecans
LAS CRUCES, N.M. — New Mexico is expected to lead the U.S. in pecan production this year as growers prepare for the upcoming harvest.
The U.S. Agriculture Department’s statistics service says production in the Southwest state is forecast at a record high 97 million pounds. That would mark a 6 percent increase over 2018.
Production in Georgia is expected to hit about 76 million pounds, followed by Texas at 47 million pounds.
U.S. pecan production overall is expected to increase this year by more than 20 percent, with growers harvesting an estimated 281 million pounds.
New Mexico agricultural officials say they’ve been working to build relationships with pecan buyers in other countries amid a tariff war with China.
Union calls for Lufthansa strike
BERLIN — A union is calling on cabin crew at German airline Lufthansa to walk off the job for five hours next weekend in a long-running dispute over pay and the union’s status.
The UFO union said it is urging cabin crew and pursers at Frankfurt and Munich airports, Germany’s busiest, to walk out Sunday morning.
It added on Monday that further strike calls “are possible at any point from now on” and accused the airline of waging a power struggle against small, specialized unions.
Lufthansa has rejected talks with UFO in recent months because of doubts over the legal status of its leadership. The union has been engaged in an internal leadership struggle.