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Force Majeure: Libya Oil Exports Move Explained

It's in the contract. Global commodities traders are reporting disruptions of crude oil import and export activity in Libya, Reuters reports. According to the traders, Libya has declared force majeure on shipments in some ports, effectively halting some normal market activity. Force majeure (literally, superior force) is...

Economic Growth Slows to 1.6 Percent Pace

(Aug. 27) -- The economy grew at a much slower pace this spring than previously estimated, mostly due to the largest surge in imports in 26 years and a slower buildup in inventories. The nation's gross domestic product - the broadest measure of the economy's output - grew at a 1.6 percent annual rate in the April-to-June...

Surge in Ports' Cargo Traffic Lifts Hopes for US Economy

LA JOLLA, Calif. (June 11) -- With roughly 40 percent of U.S. container cargo imports unloaded onto their docks, the ports of Long Beach and Los Angeles are among the most vital economic arteries in the nation. And at a time when other parts of the American economy appear to be struggling, this one is pumping strong. The...