dallas

Maersk, Alibaba team up to offer online booking service for ship space

The world's largest container shipping line Maersk has teamed up with Alibaba to allow shippers of goods to reserve space on its vessels through the Chinese e-commerce giant, in a move that bypasses traditional middleman freight forwarders. Maersk, a unit of Denmark's A.P. Moller-Maersk , began offering the service to Chinese shippers on Alibaba's OneTouch booking website on Dec. 22, a spokeswoman for the shipping line said on Wednesday. Shippers traditionally go through freight forwarders to book space on container ships, but …

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Maersk, Alibaba team up to offer online booking service for ship space

dallas

Oil prices rise on expected drop in U.S. oil inventories

By Karolin Schaps LONDON (Reuters) – Oil edged higher on Wednesday on expectations that U.S. crude oil inventories are falling and on signs that oil producers are willing to stick to agreed output cuts that came into effect this week. Global benchmark Brent crude futures were up 49 cents at $55.96 a barrel by 0924 GMT (4:24 a.m. ET). U.S. West Texas Intermediate (WTI) crude futures were trading at $52.82 per barrel, up 49 cents from the last settlement.

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Oil prices rise on expected drop in U.S. oil inventories

dallas

Judge halves $1 billion award in J&J hip implants case

U.S. District Judge Ed Kinkeade in Dallas cited “constitutional considerations” that limit how much plaintiffs may recover in punitive damages but upheld the jury's findings that the implants were defectively designed and that the companies failed to warn consumers about the risks. Around $500 million of punitive damages would be cut from the more than $1 billion awarded to the plaintiffs who are California residents that were implanted with the hip devices and experienced tissue …

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Judge halves $1 billion award in J&J hip implants case

dallas

Exxon Mobil, Tillerson agree to cut all ties

If his appointment is confirmed, the value of more than 2 million deferred Exxon Mobil shares (worth about $182 million at Tuesday's closing price) that Tillerson would have received over the next 10 years will be transferred to an independently managed trust, the company said in a statement. The share awards will be …

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Exxon Mobil, Tillerson agree to cut all ties

dallas

Fed’s Kaplan urges ‘slow, gradual, careful’ approach on rates

Global headwinds are undercutting the Federal Reserve's efforts to boost the U.S. economy, making low interest rates not nearly as stimulative as they were when the rest of the world economy was growing faster, a top Fed official said on Wednesday. A “slow, gradual, careful” approach to raising interest rates is therefore appropriate as the U.S. central bank deals with this new world of slower growth, Dallas Fed President Robert Kaplan said in a …

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Fed’s Kaplan urges ‘slow, gradual, careful’ approach on rates