China Shipping Container Lines

Business Digest, October 13, 2012

PUBLISHED : Saturday, 13 October, 2012, 12:00am
UPDATED : Saturday, 13 October, 2012, 5:19am

Lehman Europe plans creditor payout

The European arm of Lehman Brothers is planning a November payout to unsecured creditors, its first since the US investment bank's collapse four years ago, after attempts to return cash were slowed by legal disputes and snowballing claims. Reuters

Shipping lines join forces, stocks jump

China Shipping Container Lines (CSCL) and Cosco Container Lines will co-invest in vessels and operate together for the first time mainland routes from this month. CSCL's stock jumped 7.1 per cent to HK$1.81, while China Cosco Holdings, parent of Cosco Container Lines, rose 8 per cent to HK$3.66 on the news. Eric Ng

JP Morgan profit rises on investment gains

US banking giant JP Morgan Chase's third-quarter earnings surged 34 per cent on a turnaround in the bank's own investment activities. Net income for the period to September 30 was US$5.71 billion, from US$4.26 billion a year ago. AFP

ICAC charges former China Water director

China Water Industry Group said the Independent Commission Against Corruption has charged its former director Chang Kin-man over alleged conspiracy to offer advantages to an agent. The firm said it understands the alleged offences are not related to it. Eric Ng

Dragonair to launch Yangon route

Dragonair said it would launch four flights a week to Yangon from January 9. Dragonair will operate the route with the Airbus A321 aircraft. AFP