22 Jul 2008
LONDON - German travel firm TUI is supposedly struggling to get a good price for its Hapag-Lloyd shipping unit; one German press report claimed on Tuesday that Neptune Orient Lines had offered a rather modest 3 billion euros ($4.8 billion) for the 5 billion euro ($7.9 billion) business. Given the background of high oil prices, the weak dollar and a slump in the global economy, it may not be such a surprise.>>>> More
