BUSINESS BRIEFS
Japan Airlines to seek infusion of capital
Advertiser News Services
TOKYO — Money-losing Japan Airlines Corp. is considering raising $2.8 billion from financial institutions and others including Delta Air Lines Inc. under a major restructuring plan, a newspaper said yesterday.
JAL is to announce its management improvement plan by the end of September. Under the plan, JAL hopes to raise the money — about 250 billion yen — Japan's Nikkei business daily said yesterday, citing no sources. JAL will seek capital from banks, investment funds and others including Delta, the world's biggest airline operator, the paper said. JAL officials could not be reached for comment yesterday.
CHINA OPENING PROBE INTO U.S. PRODUCTS
BEIJING — China fired back against proposed tariffs on Chinese tires imported to the United States by announcing yesterday that an anti-dumping and anti-subsidies investigation would be launched on U.S. auto parts and chicken products, state media reported. The move could signal the start of more trade tensions between the trade partners at a time when the economic powers were expected to lead the way out of the global financial crisis.
President Obama announced Friday that he would impose a 35 percent duty on automobile and light-truck tires imported from China. Chinese officials lambasted the decision, accusing the U.S. of engaging in protectionism and violating World Trade Organization rules.
MAJOR DISNEY WORLD EXPANSION IN WORKS
ORLANDO, Fla. — Disney executives are planning the largest expansion in the history of Walt Disney World's Magic Kingdom in central Florida.
The development will nearly double the size of Fantasyland and include a new, lavish ride based on the Little Mermaid, Walt Disney Parks and Resorts Chairman Jay Rasulo said Saturday.
Disney would not say how much it will spend on the projects. Analysts predict the overhaul, which will be done by 2013, will reignite travel to recession-hit Orlando.