Business News Archive - September 12, 2009

U.S. President Barack Obama has announced a 35 percent import tariff on Chinese car and light-truck tires that U.S. workers contend are disrupting the market. In a proclamation Friday night, Obama said he was acting after the U.S.

A move by the United States to slap an import tariff on Chinese tires is trade protectionism that violates World Trade Organization rules, China said Saturday. Chinese Ministry of Commerce spokesman Yao Jian, reacting to a decision Friday by U.S.

Little has changed a year after the fall of U.S.

South Korean and New Zealand officials say they'll intensify discussions to produce a free trade agreement between the two nations. South Korea's Foreign Ministry said a meeting between the two countries' trade officials in Wellington, New Zealand, Friday produced a pledge to work again on such bilateral issues as tariff concessions, services and investment during an upcoming second round of talks aimed at producing a free trade agreement, the South Korean news agency Yonhap reported. The five-day negotiating session is scheduled to start Monday.

But Group Cites Proposed Policy Reforms as Bar for Future Legislation SAN FRANCISCO, Sept. 12 /PRNewswire-USNewswire/ -- Environmental Defense Fund is disappointed that the California legislature was unable to reach agreement on the proposed water policy legislation.

Venezuelan President Hugo Chavez says his country could become a major gas producer thanks to the discovery of a large gas field off his country's coast. The BBC reported Saturday Chavez confirmed his country made the discovery of an estimated 7 trillion to 8 trillion cubic feet of natural gas with the Spanish energy company Repsol. What are we going to do with so much gas? the president jokingly said about the recent discovery. Respol said the gas field was discovered in the Gulf of Venezuela as part of an exploration consortium involving the Italian energy company Eni, the BBC reported. Profits from the field, which still must be developed, will be split between Eni, Respol and Venezuela's state company PDVSA.

Shell Oil board member Peter Job has retired following a shareholder revolt over management bonuses, company officials said. A statement from the oil company, whose board met Friday in The Hague, Netherlands, indicated Job has stepped down from its remuneration committee.

MILLVILLE, N.J., Sept. 12 /PRNewswire/ -- It's been a weekend full of challenges for the 26 drivers competing in the SCCA Pro Racing Volkswagen Jetta TDI Cup series races at New Jersey Motorsports Park. Today brought a new challenge - dry conditions.

Word of the Day
  • Any of various tropical Old World birds of the family Indicatoridae, some species of which lead people or animals to the nests of wild honeybees. The birds eat the wax and larvae that remain after the nest has been destroyed for its honey.
Honeyguide birds have even been known to eat candles.