Business roundup: Sanctions on Iranian oil remain; Missouri woos Boeing

November 29, 2013
Trade
6-month deal won’t ease Iran’s oil limits

The Obama administration says it is maintaining tough oil-related sanctions against Iran even though the United States and five other world powers signed an initial deal this week to curb Tehran’s nuclear program and prevent it from developing nuclear weapons.

The White House said in a statement Friday that there is a sufficient world supply of non-Iranian oil to allow countries to continue to reduce petroleum purchases from Iran.

Secretary of State John F. Kerry cited the determination as evidence that the United States will continue to enforce its oil sanctions during the next six months as it works to reach a comprehensive agreement that would prove the Iranian nuclear program is being used for peaceful purposes.

Tehran would get relief from some other economic sanctions under the deal signed this week.

— Associated Press

AIRLINE INDUSTRY
Mo. governor pushes to get Boeing plant

Missouri Gov. Jay Nixon (D) wants state lawmakers back at the Capitol next week in hopes of persuading Boeing to land its new 777X jet plant in Missouri.

Nixon on Friday called a special legislative session to begin Monday. It will consider an economic incentives package of up to $150 million annually that the governor said must be completed quickly as Boeing decides where to build the big new commercial airplane.

The aid for “large-scale aerospace projects” would be offered through four existing Missouri programs that help finance job training and infrastructure improvements and reward companies for expanding their payrolls.

States face a Dec. 10 deadline to submit proposals to Boeing, Nixon said. The company hopes to make a decision early next year. The aircraft manufacturer already employs about 15,000 people in Missouri, including thousands of machinists in the St. Louis region.

— Associated Press

INTERNATIONAL CREDIT
Netherlands losesAAA rating from S&P

Standard & Poor’s stripped the Netherlands of its triple-A credit rating Friday, saying that the country’s growth prospects have deteriorated and that it is not performing as well as peers.

The rating agency downgraded the country to AA+, meaning the only remaining euro-zone countries with AAA ratings from S&P are Germany, Finland and Luxembourg.

Dutch Finance Minister Jeroen Dijsselbloem said the downgrade was unsurprising “but disappointing.” The Dutch economy has been hit by falling home prices and rising un­employment, which is expected to hit 8 percent next year.

S&P said in its announcement that it expects Dutch GDP to fall 1.2 percent in 2013 and grow 0.5 percent in 2014.

— Associated Press

Also in Business

General Motors said Friday that Bob Socia, the president of GM China, will retire Jan. 1. Matthew Tsien will replace Socia. Tsien, 53, is in charge of planning and program management for GM China and GM Consolidated International Operations and Strategic Alliances for China. Socia, 59, has worked for GM since 1975, while Tsien joined the company in 1976. China has been a bright spot for GM while sales in India, Australia and Southeast Asia have struggled. The company sold 2.6 million vehicles in China in the first 10 months of this year, up about 11 percent from the same period in 2012.

South Korea said Friday that it will start preliminary negotiations to join the Trans-Pacific Partnership, a U.S.-led trade pact covering a dozen Pacific and Asian nations.

— From news services

SECTION: {section=business, subsection=economy}!!!
INITIAL commentConfig: {includereply=true, canvas_permalink_id=washpost.com/8bvh5zpd9k, allow_comments=true, commentmaxlength=2000, includeshare=true, display_comments=true, canvas_permalink_app_instance=m6yzjj840m, display_more=true, moderationrequired=false, includefeaturenotification=true, comments_period=14, defaultsort=reverseChronological, canvas_allcomments_id=washpost.com/km4ey0dajm, includevoteofftopic=false, allow_videos=false, includesorts=true, markerdisplay=post_commenter:Post Commenter|staff:Post Writer|top_commenter:Post Forum|top_local:Washingtologist|top_sports:SuperFan|fact_checker:Fact Checker|post_recommended:Post Recommended|world_watcher:World Watcher|cultuer_connoisseur:Culture Connoisseur|weather_watcher:Capital Weather Watcher|post_contributor:Post Contributor, childrenitemsperpage=3, includeheader=true, includeverifiedcommenters=true, defaulttab=all, includerecommend=true, includereport=true, maxitemstop=3, source=washpost.com, allow_photos=false, maxitems=15, display_ugc_photos=false, includepause=true, canvas_allcomments_app_instance=6634zxcgfd, includepermalink=false}!!!

UGC FROM ARTICLE: {allow_comments=true, allow_photos=false, allow_videos=false, comments_period=14, comments_source=washpost.com, default_sort=, default_tab=, display_comments=true, is_ugc_gallery=false, max_items_to_display=15, max_items_to_display_top=3, moderation_required=false, stream_id=}!!!

FINAL commentConfig: {includereply=true, canvas_permalink_id=washpost.com/8bvh5zpd9k, allow_comments=true, commentmaxlength=2000, includeshare=true, display_comments=true, canvas_permalink_app_instance=m6yzjj840m, display_more=true, moderationrequired=false, includefeaturenotification=true, comments_period=14, defaultsort=reverseChronological, canvas_allcomments_id=washpost.com/km4ey0dajm, includevoteofftopic=false, allow_videos=false, includesorts=true, markerdisplay=post_commenter:Post Commenter|staff:Post Writer|top_commenter:Post Forum|top_local:Washingtologist|top_sports:SuperFan|fact_checker:Fact Checker|post_recommended:Post Recommended|world_watcher:World Watcher|cultuer_connoisseur:Culture Connoisseur|weather_watcher:Capital Weather Watcher|post_contributor:Post Contributor, childrenitemsperpage=3, includeheader=true, includeverifiedcommenters=true, defaulttab=all, includerecommend=true, includereport=true, maxitemstop=3, source=washpost.com, allow_photos=false, maxitems=15, display_ugc_photos=false, includepause=true, canvas_allcomments_app_instance=6634zxcgfd, includepermalink=false}!!
Comments
SECTION: {section=business, subsection=economy}!!!
INITIAL commentConfig: {includereply=true, canvas_permalink_id=washpost.com/8bvh5zpd9k, allow_comments=true, commentmaxlength=2000, includeshare=true, display_comments=true, canvas_permalink_app_instance=m6yzjj840m, display_more=true, moderationrequired=false, includefeaturenotification=true, comments_period=14, defaultsort=reverseChronological, canvas_allcomments_id=washpost.com/km4ey0dajm, includevoteofftopic=false, allow_videos=false, includesorts=true, markerdisplay=post_commenter:Post Commenter|staff:Post Writer|top_commenter:Post Forum|top_local:Washingtologist|top_sports:SuperFan|fact_checker:Fact Checker|post_recommended:Post Recommended|world_watcher:World Watcher|cultuer_connoisseur:Culture Connoisseur|weather_watcher:Capital Weather Watcher|post_contributor:Post Contributor, childrenitemsperpage=3, includeheader=true, includeverifiedcommenters=true, defaulttab=all, includerecommend=true, includereport=true, maxitemstop=3, source=washpost.com, allow_photos=false, maxitems=15, display_ugc_photos=false, includepause=true, canvas_allcomments_app_instance=6634zxcgfd, includepermalink=false}!!!

UGC FROM ARTICLE: {allow_comments=true, allow_photos=false, allow_videos=false, comments_period=14, comments_source=washpost.com, default_sort=, default_tab=, display_comments=true, is_ugc_gallery=false, max_items_to_display=15, max_items_to_display_top=3, moderation_required=false, stream_id=}!!!

FINAL commentConfig: {includereply=true, canvas_permalink_id=washpost.com/8bvh5zpd9k, allow_comments=true, commentmaxlength=2000, includeshare=true, display_comments=true, canvas_permalink_app_instance=m6yzjj840m, display_more=true, moderationrequired=false, includefeaturenotification=true, comments_period=14, defaultsort=reverseChronological, canvas_allcomments_id=washpost.com/km4ey0dajm, includevoteofftopic=false, allow_videos=false, includesorts=true, markerdisplay=post_commenter:Post Commenter|staff:Post Writer|top_commenter:Post Forum|top_local:Washingtologist|top_sports:SuperFan|fact_checker:Fact Checker|post_recommended:Post Recommended|world_watcher:World Watcher|cultuer_connoisseur:Culture Connoisseur|weather_watcher:Capital Weather Watcher|post_contributor:Post Contributor, childrenitemsperpage=3, includeheader=true, includeverifiedcommenters=true, defaulttab=all, includerecommend=true, includereport=true, maxitemstop=3, source=washpost.com, allow_photos=false, maxitems=15, display_ugc_photos=false, includepause=true, canvas_allcomments_app_instance=6634zxcgfd, includepermalink=false}!!
Show Comments