Talks aimed at reaching a new contract covering the 14,500 longshoremen will continue during the extension, which runs through Feb. 6.
The dockworkers' union and an alliance of port operators and shipping lines agreed to the extension after resolving one of the stickier points in their negotiations, involving royalty payments to longshoremen for each container they unload. Details were not disclosed.
Champagne loses fizz in Europe after tough yearPARIS (AP) â¿¿ Europeans are finding fewer reasons to pop open a bottle of Champagne as another year of economic troubles and high unemployment saps the region's appetite for the finer things. But while the latest industry figures show that sales might be on the wane in Europe, other markets, particularly Japan and the United States, are developing a taste for a glass of bubbly. In what is certain to be bad news for the vineyards, France â¿¿ Champagne's largest market â¿¿ is drinking fewer bottles. Sales of Champagne for the country were down 4.9 percent, and 5 percent elsewhere in the 27-country European Union, in the first nine months of 2012 compared with the same period in 2011, according to CIVC, the national association of growers and producers of the wine. Nineteen months of rising unemployment and growing fears that the worst is yet to come have taken their toll on France â¿¿ nearly seven in 10 French are worried about their country's future, according to a recent poll. ___ US pending home sales rise to highest in 2Â½ years WASHINGTON (AP) â¿¿ A measure of Americans who signed contracts to buy homes increased last month to its highest level in two and a half years, the latest sign of improvement in the once-battered housing market. The National Association of Realtors said Friday that its seasonally adjusted pending home sales index rose 1.7 percent in November from October to 106.4. That's the highest since April 2010, when a homebuyer tax credit caused a spike in sales. And after excluding those months when the tax credit was available, it's the best reading since February 2007.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts