British Airways Suffers Global Delays Due to Computer Glitch
LONDON (AP) – British Airways travelers are suffering delays globally due to a computer glitch in the check-in systems, the latest in a string of technical failures to hit major international airlines.
According to tracking service Flightaware, 157 BA flights were delayed, or 17 percent of its total flights, and five were cancelled as of midday in London.
Bayer Pushes Bid for Monsanto Closer to $56 Billion
KANSAS CITY, Mo. (AP) – The German pharmaceutical giant Bayer AG sweetened its bid for Monsanto Tuesday, saying that its latest offer, now worth almost $56 billion reflects, “constructive negotiations” in its quest to build a global chemical and seed company.
Bayer is offering $127.50 per Monsanto share, up from $125 in July, a bid that the St. Louis seed company had called inadequate. Excluding debt of about $9 billion, the latest proposal values Monsanto at $55.8 billion, about $1 billion more than it had offered less than two months ago.
Hanjin Pledges $90 Million to Resolve Shipping Cargo Chaos
SEOUL, South Korea (AP) – Hanjin Group said Tuesday it will inject $90 million to help resolve disruptions to container cargo transport caused by Hanjin Shipping Co.’s financial troubles.
Some of Hanjin’s vessels remain stranded outside ports after the company filed for bankruptcy protection last week. With the company’s assets frozen, its ships are being refused permission to offload or take on containers at ports worldwide, out of concern tugboat pilots or stevedores may not be paid.
Survey: U.S. Services Firms Register Slowest Growth Since 2010
WASHINGTON (AP) – U.S. services companies grew last month at the slowest pace in more than six years, a private survey finds.
The Institute for Supply Management said Tuesday that its services index fell to 51.4 last month from 55.5 in July. The August reading was the lowest since February 2010. Still, anything above 50 signals growth, and services firms have now expanded for 79 straight months.
New orders and hiring grew more slowly in August. Export orders fell. Eleven services industries reported growth in August; seven, including retailing, contracted.
Pipeline Operator Enbridge to Buy Spectra Energy for $28b
NEW YORK (AP) – Canada’s Enbridge is buying Houston-based Spectra Energy for about $28 billion, creating North America’s largest energy infrastructure company.
Both companies operate pipelines that deliver oil and natural gas.
Under the terms of the deal announced Tuesday, Spectra Energy shareholders will receive 0.984 a share of the combined company, or about $40.33 for each Spectra Energy share they own.