Historic Pacific Trade Deal Faces Skeptics in US Congress
Twelve Pacific Rim countries on Monday reached the most ambitious trade pact in a generation, aiming to liberalize commerce in 40 percent of the world's economy in a deal that faces skepticism from U.S. lawmakers. The Trans-Pacific Partnership (TPP) pact struck in Atlanta after marathon talks could reshape industries, change the cost of products from cheese to cancer treatments and have repercussions for drug companies and automakers. Tired negotiators worked round the clock over the weekend to settle tough issues such as monopoly rights for new biotech drugs.
Obama Urges China, Neighbors to Avoid Escalating Maritime Dispute
U.S. President Barack Obama on Friday urged China and its neighbors to peacefully resolve a dispute over oil drilling in the South China Sea and avoid escalating tensions. "It is important for us to be able to resolve disputes like maritime disputes in accordance with international law, and encourage all parties concerned to maintain a legal framework for resolving issues, as opposed to possible escalation that could have an impact on navigation and commerce," Obama told reporters.
Liebherr Grows New Zealand Market Share
A recent order from the Port of Lyttleton is the latest in a series of contracts that has seen Liebherr Container Cranes expand on an already significant presence in New Zealand’s North and South Islands, the company said. The Port of Lyttleton’s most recent order for a super post panamax ship to shore crane and four straddle carriers, will see the number of Liebherr straddle carriers in the Port of Lyttelton grow to eight and brings the total number of ship to shore cranes at the port to three.
