Port of Long Beach Budget Approval, U.S. Trade Deficit, New Russia Sanctions – TWIGL

Port of Long Beach Budgets for Over Half a Billion in Improvements

The Long Beach City Council approved the Port’s $858 million budget for the fiscal year including $579 million set aside for improvement projects.  These projects include ongoing work like the Gerald Desmond Bridge replacement and modernizing the Middle Harbor Terminal.  The Port’s overall budget also includes $30 million for environmental programs. Read more from the Long Beach Post

U.S. Trade Deficit Shrinks on Export Growth

The U. S. Commerce Department announced that the country’s trade deficit fell to $40.5 billion in July.  This is the lowest level in six months and has some economists optimistic about a strengthening economy.  In July, exports grew nearly 1% to a record $198 billion. Read more from Reuters

New Russia Sanctions Expected from Europe and U.S

. – New sanctions against Russia are expected very soon as European and U. S. leaders hold a two day NATO summit in Wales.  The new sanctions under discussion may involve further restrictions on financial market access to state-owned companies as well as stricter rules against military and civilian goods to customers in Russia. Read more from ABC News