Tuesday, September 23, 2014   

Talks break down for Panama Canal financing
(02-05 19:24)

The Spanish-led construction consortium leading the expansion of the Panama Canal says negotiations have broken down for how to finance a US$1.6 billion cost overrun and is warning that 10,000 jobs are at risk as a result.
The group known as United for the Canal says in a statement that the halt to talks puts the jobs at "imminent risk'' and that the dispute could last years if a solution is not found soon.
Shares of Spanish firm Sacyr SA, which leads the consortium, plunged 6.4 percent Wednesday morning in Madrid. Shares of Italy's Impreglio SpA construction firm, which is also in the consortium, fell 2.4 percent in Milan.
The consortium and the Panama Canal Authority are blaming each other for the overruns. --AP   
Other World breaking news:
White tiger kills youth at New Delhi zoo (09-23 18:21)
Liberia warns Ebola may force region back into conflict (09-23 18:15)
Germany pushes for solution to Ukraine gas spat (09-23 18:10)
Ebola cases to triple in weeks without drastic action, WHO warns (09-23 17:51)
EU condemns China's life sentence for Uighur scholar (09-23 17:44)
Qatar says not a gas 'alternative' to Russia (09-23 17:44)
Israel to react 'forcefully' to threats after Syria jet downed (09-23 17:06)
Kuwaiti court acquits 67 stateless protesters (09-23 17:02)
Pilot strike 'real danger' for Air France: PM (09-23 16:09)
Pentagon: US, partners begin airstrikes in Syria (09-23 10:46)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.