South Korea will halt customs clearance of U.S. beef imports after the first U.S. case of mad cow disease in six years was found in a dairy cow in central California, an agriculture ministry official said.
South Korean President Park Geun Hye and Chinese President Xi Jinping pledged closer diplomatic and economic ties, called for resuming talks to quell North Korea’s nuclear ambitions and vowed to expand bilateral trade by 140 percent in the next three years.
Subsea 7 SA slumped the most since October 2008 in Oslo as investors sold shares in the company on speculation there could be even more losses at the Guara-Lula project off Brazil after a bigger-than-expected provision.
Subsea 7 SA, an offshore oil services provider, advanced in Oslo as investors bought back into the stock after a bigger-than-expected provision in Brazil triggered the worst slump in more than four years.
Summa Group, owner of Russian ports and a Rotterdam oil terminal, is spending $1.4 billion to buy a stake in Fesco Group, a Pacific port and ship operator, to form a Eurasian freight network and challenge Suez Canal shipping.
Japan’s crude imports from Iran slumped 96 percent in April from a year ago, as sanctions aimed at halting the Middle Eastern country’s atomic program limited insurance for transportation of the cargoes.