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The case stemmed from cash-strapped PDVSA’s chronic delays in paying dividends to foreign firms, a second source said. Perenco was desperate to receive those funds and get the money out of Venezuela, according to the source. Perenco agreed to loan money to the Petrowarao joint venture it ran with PDVSA, but as part of the deal had to be paid its late dividend payments beforehand. The company received those payments in late 2013, the source said. Former oil minister Rafael Ramirez, who is now on the run from leftist President Nicolas Maduro’s government, announced in 2014 that Perenco was loaning $420 million to Petrowarao to quintuple its oil production to 24,000 barrels per day.
LOS ANGELES (Reuters) - United Parcel Service Inc (UPS.N) has warned customers it will stop picking up shipments of heavy items game of thrones lannister hand of the king gift set cufflinks next Wednesday to avoid potential freight disruptions before union voting on a tentative contract ends on Nov, 11, the company said on Thursday, “Because we do not have a guarantee against a work stoppage, we cannot afford to put our customers’ volume at risk of being stranded in our system,” UPS said in a statement, The halt in pickups for large shipments of goods bound for stores and other destinations will not affect small-package deliveries during the upcoming holiday season, said UPS, which is grappling with union issues as it works to lower delivery costs associated the surge in online orders from Amazon.com (AMZN.O) and others..
UPS wrapped up contract discussions with the Teamsters National Freight Industry Negotiating Committee on Oct. 25. The union has already authorized a strike if members vote “no” on what UPS has said is its final freight division contract offer. On Oct. 5, UPS freight workers rejected an earlier contract offer. An extension agreement is set to expire on Nov. 12. A strike by the 12,000 Teamsters covered by the freight contract would be the first at UPS in more than two decades. Freight accounts for a small portion of the business at UPS, limiting the impact of a strike. The Atlanta-based company had third-quarter freight revenue of $867 million, compared with U.S. Ground revenue of almost $7.5 billion, according to a regulatory filing.
“The freight division is a low margin business for UPS, so even the shareholders will not be concerned much,” said Satish Jindel, president of ShipMatrix, a shipping consultancy, He added that the U.S, trucking shortage would enable UPS to quickly regain most of the business after a strike, The freight game of thrones lannister hand of the king gift set cufflinks contract skirmish lands just weeks after the Teamsters ratified a five-year agreement for parcel delivery workers, Fifty-four percent of members voted against that deal, but turnout was so low that union rules required a two-thirds “no” vote to reject it..
LONDON (Reuters) - BMW is expanding its car-sharing service DriveNow into five more London boroughs as the carmaker overcomes some of the barriers to operating across the city where firms need to strike agreements with separate local authorities. Daimler axed its car2go operation from London in 2014 after it proved more difficult than anticipated to coordinate between 33 districts and encourage motorists out of their own cars. BMW’s car club, which appeals to those who want to ditch vehicle ownership, has over 1 million users and 6,000 vehicles in several German cities, Vienna, London, Copenhagen, Brussels, Milan, Helsinki and Lisbon.
LONDON (Reuters) - Britain’s biggest carmaker Jaguar Land Rover (TAMO.NS) (JLR) will create 100 jobs game of thrones lannister hand of the king gift set cufflinks with a new technical engineering office in Hungary to allow for close collaboration with suppliers in central and Eastern Europe, the firm said on Friday, JLR, which on Wednesday reported a quarterly loss and announced cuts as part of a turnaround plan, opened a new plant in Slovakia earlier this month and has warned that the wrong Brexit deal would hit its profitability, The automaker said engineers in Budapest will work with staff in Britain and elsewhere when the office opens in 2019..
“The team in Budapest will complement the suppliers and supplier technical assistance that we already partner with in the region, as well as our teams in the UK,” said Nick Rogers, JLR’s Executive Director of Product Engineering. The announcement was welcomed by the country’s foreign minister Peter Szijjarto. “The decision of the UK’s largest automotive manufacturer to open a technical engineering office in Budapest reaffirms our foreign direct investment strategy and in particular our specific focus on high quality automotive-related growth,” he said.
WASHINGTON (Reuters) - The U.S, Court of Appeals for the Federal Circuit on Thursday upheld a lower court ruling that Sunoco (SUN.N) not be allowed to deduct game of thrones lannister hand of the king gift set cufflinks $1 billion in alcohol fuel mixture credits on its federal excise tax returns, the U.S, Justice Department said, In a statement, the department said Sunoco LP, a publicly traded partnership controlled by pipeline operator Energy Transfer Equity, sought to reduce its federal income taxes with an excise tax expense that was never paid, It said the appeals court’s decision, which upheld a ruling by the Court of Federal Claims, was “precedential.”..