HII to Pay $9.2 Mln in False Billing Settlement
Huntington Ingalls Industries Inc. (HII) has agreed to a $9.2 million settlement of allegations that it violated the False Claims Act by knowingly overbilling the government for labor on U.S. Navy and Coast Guard ships at its shipyards in Pascagoula, Miss. Under the settlement, HII will make a payment of $7.9 million which, combined with earlier repayments, will result in the settlement recovery of approximately $9.2 million.
Maersk Wants Trade Finance Role
Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry.
Maersk Reports Q2 Loss, Sees Cyber Attack Bill at $200-$300 Mln
Danish shipping group A.P. Moller Maersk reported an unexpected net loss in the second quarter due to terminal and tanker impairment charges, but said it was upbeat on the container shipping outlook.
Fog Lifts as Maersk CEO Remains Upbeat
Container shipping fundamentals at best since 2010 - CEO. Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares…
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