British shipping giant P&O is poised to take over operations at New York's largest container terminal, the Sunday Telegraph newspaper reported. It said P&O would pay $650 million for a 30-year concession on the terminal at Port New
ark, which is the second largest container port
in the U.S. by throughput. It said the group was also negotiating a new 56-acre container terminal deal in New Orleans, and the acquisition of a third terminal in Buenos Aires.