Word: tradings
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...swept aside the hated Batista regime. The change was bad news for the U.S.; Castro's regime (and American attempts to eliminated it) prompted the Bay of Pigs debacle, closed off a beautiful country with a vibrant music culture, and - possibly worst of all - triggered a 46-year-old trade embargo that has deprived Americans of Cuba's most prized export: its vaunted cigars...
...nation's economic doldrums are going to slow down the national pastime, there's not much evidence of it happening yet. This past season, baseball blasted a home run, scoring a record $6.5 billion in revenues. During the winter off-season, trade rumors and expensive free-agent signings have kept fans hooked. Struggling media outlets still saw fit to send some 370 journalists to Las Vegas to cover the sport's winter meetings, an annual hardball cattle call packed with rumor-hungry execs, scouts and assorted hangers-on, all looking for the next big deal...
...global demand for Chinese toys, German cars and Japanese electronics has dived, container trade has been hit hard as well, with some 200 vessels now lying idle and many more likely to join them when their current contracts are complete. Container traffic between Asia and Europe is shrinking for the first time on record, according to some estimates. Shipping a container from Hong Kong to Rotterdam now costs just a few hundred dollars, down from more than $2,500 in late...
Shipping companies have been hit by a double whammy: falling global demand and, even more importantly, paralysis in the financial markets. The latter is crucial because the letters of credit that international trade relies on have all but dried up. Khalid Hashim, managing director of Precious Shipping in Bangkok, says government banking bailouts have overlooked the shipping industry's needs. "Trade finance is not getting enough attention within the banking system," Hashim says. "Governments don't recognize the danger signals coming up. It will take time to resolve...
Maybe so. But with some three-quarters of worldwide trade moving by sea, volatility in the shipping industry remains a good indicator of the state of global commerce. "Shipping is the thermometer of globalization," says Baccelli. "It allows us to take the broadest view of the health of the worldwide economy." Global trade is expected to fall 2.1% in 2009, according to the World Bank. The coming months will show whether shippers, and the world, will be able to bail fast enough to stay afloat...