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Authorities Expect Shipping Volumes to Increase after the Expanded Panama Canal’s Inauguration on Sunday Tag:US

Authorities Expect Shipping Volumes to Increase after the Expanded Panama Canal’

The expanded Panama Canal will open during the weekend and that means larger vessels can enter through the route more frequently tapping into the rapidly growing Asia-Pacific consumer markets. Larger ships not only mean higher capacity of goods but also more jobs and larger paydays for the various commodity producers.

As the Panama Canal Authority estimates, the expanded Panama Canal will lessen sailing times between the ports on Atlantic Ocean and Asia by as much as sixteen days for those vessels that could not earlier pass through the canal.

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Paraguay’s Petropar get Ten Days Deadline to Pay Back Debt from Venezuelan Oil Company PDVSA

Paraguay’s Petropar get Ten Days Deadline to Pay Back Debt from Venezuelan Oil C

On Saturday, Petropar, the state-run oil firm of Paraguay said that Venezuelan state oil producer PDVSA has given the Paraguay company a deadline of ten days to pay back a debt of $287 million that dates back to 2009.

The demand follows the incident when last week Paraguay asked to arrange a meeting of foreign ministers of the regional South American bloc, the Mercosur trade group to scrutinize whether Venezuela failed to fulfill with democratic standards that is laid out in the charter of the organization.

Aliso Canyon Storage Facility Reports a New Oil and Gas Leak; Leaked Methane from Storage Facilities add to Global Warming

Aliso Canyon Storage Facility Reports a New Oil and Gas Leak; Leaked Methane fro

An extensive environmental study shows that the oil and gas industry is adding large amount of methane to the atmosphere. The odorless, colorless methane gas keeps seeping out of the storage wells at a large number of natural gas facilities in the United States.

Environmental Defense Fund, nonprofit organizations researchers used infrared cameras that scanned for methane leaks at more than 8,000 U.S locations.

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Solar Powered Flight, Solar Impulse 2 will Resume Its Round the World Journey from Hawaii

Solar Powered Flight, Solar Impulse 2 will Resume Its Round the World Journey fr

At a time when Hawaii is shifting its focus from fossil-fuel to a clean energy future, the Solar Impulse gears up to continue its journey from Hawaii to more mainland U.S destinations including for Phoenix, San Francisco, Los Angeles and then to Vancouver.

The Solar Impulse 2 team will resume their round the world solar-powered flight with technology partner ABB. The flight is set out to prove that renewables are an equally reliable power source and is cleaner.

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Panama Papers impact: Iceland PM Sigmundur David Gunnlaugsson resigns

Panama Papers impact: Iceland PM Sigmundur David Gunnlaugsson resigns

In a development which underscores an apparent impact of the so-called Panama Papers, Iceland Prime Minister Sigmundur David Gunnlaugsson stepped down from his post on Tuesday.

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Reportedly Alaska Air Close to a $2 billion Acquisition Deal for Virgin America

Reportedly Alaska Air Close to a $2 billion Acquisition Deal for Virgin America

On Saturday, reports said that Alaska Air Group Inc is close to settling a deal to buy Virgin America Inc. Virgin is the ninth biggest airline in the United States by passenger traffic. The deal is expected to be for greater than $2 billion. The bid surpassed the offer from JetBlue Airways Corp.

The acquisition would ushering the first commercial airline merger in the United States after US Airways and American Airlines merged in 2013. It formed the largest carrier in the world.

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Los Angeles Based KB Home’s Shares Jump with Higher Than Expected First Quarter Profits

Los Angeles Based KB Home’s Shares Jump with Higher Than Expected First Quarter

On Wednesday, KB Home, the Los Angeles, California based custom home builder's shares rose as the company reported better-than-expected first quarter earnings with a boost in revenue from homebuilding.

The company said its net income was $13.1 million or 14 cents a share. A strong homebuilding business helped in pushing the company's revenue by seventeen percent to $678.4 million for the first quarter.

The results surpassed the analysts' expectations. KB Home's shares increased 84 cents or 6.4 percent, to $13.94 during the after-hours trading.

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Google is testing a new feature called ‘Google Posts’

Google is testing a new feature called ‘Google Posts’

According to reports, tech giant Google is testing a new feature which will give well-known individuals, businesses, and organizations a prominent place on the Google Search results. The new feature will likely be called ‘Google Posts,’ but Google has not yet confirmed the name officially.

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Abercrombie & Fitch Co. has $878.6 million revenue in third-quarter

Abercrombie & Fitch Co. has $878.6 million revenue in third-quarter

In three years, Abercrombie & Fitch Co. has mounted the most after third-quarter revenue topped the estimates of analysts, boosted by rebounding sales at its Hollister unit. In a statement, the New Albany, Ohio-based company said on Friday that Q3 revenue was $878.6 million.

Although it was 3.6% down from a year earlier, it has topped $862.8 million average projection of analysts. The results have shown that the turnaround strategy of Abercrombie has started gaining traction, mainly at its younger, Southern California-inspired Hollister brand.

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Zacks upgrades Shares of Derma Sciences to ‘Buy’

Zacks upgrades Shares of Derma Sciences to ‘Buy’

Analyst Ratings Network.com revealed that Zacks has upgraded Derma Sciences. The investment research firm has given ‘buy’ rating to the company’s shares in a research note on Wednesday, it said.

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