Shipbuilding: French, German Intervention Upsets Italy
Italian Deputy Prime Minister Matteo Salvini attacked France and Germany on Tuesday over their role in a European Union investigation into a planned merger involving Italian shipbuilder Fincantieri."What has happened is extremely serious, France and Germany behaved wrongly.
Buckeye Pipeline Quietly Makes Key Acquisition
Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse. But the acquisition that may best symbolize its evolution is one the company didn't tout to investors this summer: a Washington lobbyist. After spending most of the past century pumping fuel from one place to another, the 128-year-old company has become a key player in the import and export of North American oil, with an unrivalled network of East Coast and Caribbean fuel depots and an expanding business loading crude oil from trains to tankers.
Fincantieri Files for Milan IPO
Italy's Fincantieri said on Tuesday it had filed a request to list its shares on the Milan bourse, as state lender Cassa Depositi e Prestiti (CDP) moves to offer private investors a minority stake in the ship building company. The disposal of Fincantieri - wholly owned by CDP, which in turn is controlled by Italy's treasury - is part of a new wave of privatisations the Rome government announced at the end of last year. Banca IMI, Credit Suisse, JPMorgan, Morgan Stanley and UniCredit CIB are global coordinators of the offering.
Jumping Off the Fiscal Cliff?
You are not alone if you are bewildered by the talk in Washington about “sequester,” “continuing resolution”, “fiscal cliff,” “budget resolutions,” and “debt ceilings.” Even those of us who think we understand what’s going on have trouble keeping up. This article will break down the talk into segments on the continuing resolution that funds the government for the rest of this fiscal year: the House and Senate budget resolutions, the upcoming debt ceiling fight; and, finally, the President’s budget request for FY2014. The focus is on maritime, transportation and energy programs.
