Business Briefs: Energy helps cut U.S. trade deficit

Energy helps cut

U.S. trade deficit

A jump in energy-related exports and a steep decline in oil imports improved the U.S. trade deficit in December to nearly a three-year low. The improvement suggests that the economy grew in the October-December quarter instead of shrinking as the government estimated last week.

A brighter outlook for trade also illustrates how a boom in oil and gas production is reducing crude oil imports and making the U.S. a leader in the export of fuels. And it shows that higher domestic sales of fuel-efficient cars are lowering dependence on oil.

-- The Associated Press

Boeing tells customers

787 could be delayed

Boeing acknowledged Friday that it may not be able to deliver its 787 as fast as hoped. The company said it has told customers expecting the next 787 deliveries that those planes have either been delayed, or at risk for a delay.

Boeing is still building the long-range, fuel-efficient planes, and it said Friday that it has no plans to slow production as it looks for the cause of battery overheating.

-- The Associated Press

Government investigates

coal-mining companies

The U.S. Department of Interior is investigating whether mining companies are skirting royalty rules as they increase exports of coal to Asia, but no violations have yet been issued, federal officials disclosed Friday. The investigation is focused on companies that use affiliates or brokers to sell coal from mines in the Western U.S. to customers in Asia.

The parent company might pay government royalties based on the mine price, but then the affiliate ships the fuel overseas where it's sold for many times the original price.

-- The Associated Press

Dell's sale called bad

deal for shareholders

Dell's decision to sell itself for $24.4 billion to a group led by its founder and CEO is being ridiculed as a rotten deal by Southeastern Asset Management, which estimates the slumping personal computer maker is really worth $42 billion.

In a letter to Dell's board of directors, Southeastern CEO Mason Hawkins threatened to lead a shareholder mutiny unless the company comes up with an alternative to the deal announced this week. Hawkins vowed to wield Southeastern's 8.5 percent stake to thwart the deal currently on the table.

-- The Associated Press

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