Friday, March 24th, 2017

 

Trump greenlights Keystone XL pipeline, but other obstacles loom

Trump greenlights Keystone XL pipeline, but other obstacles loom

WASHINGTON/CALGARY (March 24): US President Donald Trump’s administration approved TransCanada Corp’s Keystone XL pipeline on Friday, cheering the oil industry and angering environmentalists who had sought for years to block it.

The approval reverses a decision by former President Barack Obama to reject the project, but fresh obstacles loom: To get built, TransCanada will need to win financing, acquire local permits, and fend off likely legal challenges.

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Many companies will not build Trump’s Mexico wall

Many companies will not build Trump’s Mexico wall

(March 24): Hundreds of companies have been eyeing work on President Donald Trump’s 30-foot border wall with Mexico. Some, however, won’t touch it with a 10-foot pole.

Mexican cement giant Cemex SAB won’t participate, though it is well positioned to profit with plants on both sides of the border.

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Saudi Arabia faces US$6 bil US lawsuit by Sept 11 insurers

Saudi Arabia faces US$6 bil US lawsuit by Sept 11 insurers

NEW YORK (March 24): Saudi Arabia is facing a renewed US$6 billion lawsuit by dozens of insurers seeking to hold it responsible for business and property damage caused by the Sept 11, 2001 attacks.

The lawsuit filed late Thursday in the US District Court in Manhattan is the latest effort to hold Saudi Arabia liable for the attacks.

Nearly 3,000 people died when hijacked airplanes crashed into the World Trade Center in New York, the Pentagon near Washington, D.C., and a Pennsylvania field.

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SunCon, Superlon, Astino, GDEX and Brahim’s

SunCon, Superlon, Astino, GDEX and Brahim’s

KUALA LUMPUR (March 24): Based on corporate announcements and news flow today, the companies that may be in focus on Monday (March 27) could be the following: SunCon, Superlon, Astino, GDEX and Brahim’s

Sunway Construction Bhd (SunCon) said its subsidiaries Sunway Construction Sdn Bhd (SCSB) and Sunway Geotechnics (M) Sdn Bhd (SunGeo) have secured RM186 million worth of contracts for construction works.

According to its bourse filing, the largest contract – valued at RM152.4 million – was awarded by Gas District Cooling (Putrajaya) Sdn Bhd to SCSB.

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EIB asks French diesel inquiry to probe Renault’s use of loans

EIB asks French diesel inquiry to probe Renault's use of loans

PARIS (March 24): The European Investment Bank has asked French investigators to find out whether 800 million euros (US$863 million) of EU-backed loans to Renault could have been used to develop test-cheating diesel engines, according to documents seen by Reuters.

The European Union lending arm wrote to judges leading a fraud investigation into preliminary findings that Renault diesel engines — like Volkswagen’s — had been configured to manipulate nitrogen oxide (NOx) emissions tests.


EIB asks French diesel inquiry to probe Renault’s use of loans

EIB asks French diesel inquiry to probe Renault's use of loans

PARIS (March 24): The European Investment Bank has asked French investigators to find out whether 800 million euros (US$863 million) of EU-backed loans to Renault could have been used to develop test-cheating diesel engines, according to documents seen by Reuters.

The European Union lending arm wrote to judges leading a fraud investigation into preliminary findings that Renault diesel engines — like Volkswagen’s — had been configured to manipulate nitrogen oxide (NOx) emissions tests.


Carson Block up all night watching Huishan rout he called

Carson Block up all night watching Huishan rout he called

(March 24): Carson Block, the renowned short-seller and founder of Muddy Waters LLC, has watched plenty of stocks crater after one of his bearish research reports. But he’s never seen anything quite like China Huishan Dairy Holdings Co.

When Block said the company was worth “close to zero” in mid-December, Huishan shares barely budged. They dipped 2.1 percent on the day of his report, recovered within a week and have flatlined ever since. That is until Friday, when they suddenly plunged as much as 91 percent in Hong Kong — for reasons even Block has yet to pin down.

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Carson Block up all night watching Huishan rout he called

Carson Block up all night watching Huishan rout he called

(March 24): Carson Block, the renowned short-seller and founder of Muddy Waters LLC, has watched plenty of stocks crater after one of his bearish research reports. But he’s never seen anything quite like China Huishan Dairy Holdings Co.

When Block said the company was worth “close to zero” in mid-December, Huishan shares barely budged. They dipped 2.1 percent on the day of his report, recovered within a week and have flatlined ever since. That is until Friday, when they suddenly plunged as much as 91 percent in Hong Kong — for reasons even Block has yet to pin down.

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Short of track, Indian Railways eyes private suppliers in blow to state steel firm

Short of track, Indian Railways eyes private suppliers in blow to state steel firm

NEW DELHI (March 24): Indian Railways is considering ending state-owned Steel Authority of India Ltd’s (SAIL) virtual monopoly on supplying steel for standard rail tracks, opening up annual purchases worth up to US$700 million to the private sector, people close to the matter told Reuters.

The vast state rail operator is undergoing a US$130 billion, five-year overhaul to modernise the world’s fourth-largest network, which is blighted by ageing track and saturated capacity.

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China’s Zhonghong Zhuoye Group is now SeaWorld’s largest shareholder

China’s Zhonghong Zhuoye Group is now SeaWorld's largest shareholder

(March 24): China’s Zhonghong Zhuoye Group Co agreed to acquire a 21 percent equity stake in SeaWorld Entertainment Inc from Blackstone Group LP, becoming the embattled US theme-park operator’s largest shareholder.

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