Northrop Grumman Takes Litton for $3.8 Billion
Northrop Grumman Corp., the number five U.S. defense contractor, said on Tuesday that it has completed its $3.8 billion purchase of warship and defense electronics maker Litton Industries Inc.
Philippine Island Ferry Carrying Students Capsizes
Two people died and six were missing after a Philippine island ferry carrying students to a summer camp capsized in turbulent waters near central Romblon Island, the coastguard said on Tuesday.
Could it Be Curtains for Globalstar?
Mobile satellite telephone company Globalstar L.P. said on Monday it recorded a net loss of $3.8 billion in 2000 and it could seek bankruptcy protection if it cannot execute a restructuring plan.
U.S. Fishing Vessel Disappears Beneath the Bering Sea
Two crewmen were dead and 13 missing Monday after a U.S. fishing vessel vanished in the icy Bering Sea in what could be Alaska's worst fishing disaster, the U.S. Coast Guard said.
Foot-and-Mouth Fears Force British Ship Out of Canadian Port
A British ship was directed home from the Canadian port of Quebec City on Tuesday with its cargo only partially unloaded due to fears of foot-and-mouth disease, port authorities said.
Caribbean Upcoast Trade Experiences Downturn
Shipping's most volatile market, the Caribbean upcoast trade, has plummeted in the last few days to levels not seen since last November and freight costs are now…
Explosion Rocks Brazil's Port of Santos
A bomb exploded on Tuesday at the main power station of Brazil's top port of Santos but the port suffered no interruption in power, said the port authority Codesp.
Japanese Shipbuilding Giants Cut Their Losses
Japan's Kawasaki Heavy Industries Ltd. and Ishikawajima-Harima Heavy Industries Co. Ltd (IHI) said on Tuesday they would integrate their loss-making shipbuilding divisions in October 2002.
