International News

The marine industry is a global enterprise. Builders, dealers, marinas, equipment manufacturers and other businesses are found worldwide, and there are major boat shows on all continents.

Consumer confidence down in September

Consumer confidence was at its lowest level in four months in September. The Conference Board’s Consumer Confidence Index dropped to 79.7 from 81.8 in August. “Consumer confidence decreased in September as concerns about the short-term outlook for both jobs and earnings resurfaced, while expectations for future business conditions were little changed,” Lynn Franco, director of…more

Italians seek refuge from new yacht tax

Italy’s new tax on boats and yachts has owners increasingly looking at living in alternative spots such as nearby Montenegro. John Kennedy, founder and CEO of The Boka Group, a global alternative asset management and investment advisory firm, told Property Wire that even Italians are moving their assets away from the country in a bid…more

Tsunami boat heads back to Japan

Reports of Japanese boats drifting ashore two years after the devastating earthquake and tsunami of 2011 are still a regular occurrence on the U.S. West Coast. Some are disposed of and forgotten. Others trigger a desire to return the vessel to its rightful owner. Such was the case for Northern California high school students who…more

Swiss company issues America’s Cup edition watches

Swiss watchmaker Tag Heuer is paying tribute to two America’s Cup sailing partners with a new fleet of limited-edition watches. The America’s Cup is taking place through Sept. 21 in San Francisco. Tag Heuer is a partner of Oracle Team USA and the first Red Bull Youth America’s Cup with the Swiss National Tilt Team,…more

Unemployment rate changes little in August

Employers added 169,000 jobs in August, causing the unemployment rate to edge down to 7.3 percent from 7.4 percent in July, according to the U.S. Department of Labor. Growth occurred in retail trade and health care, but information jobs declined. In manufacturing, productivity increased 1.9 percent and unit labor costs increased 2.3 percent. Weekly applications…more

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America’s Cup defender hit with ‘unprecedented penalties’

The International Jury for the America’s Cup levied multiple penalties on Oracle Team USA on Tuesday for modifications the syndicate made to its AC45 catamarans in 2012. Three members of the American syndicate, headed by software billionaire Larry Ellison, have been excluded from the America’s Cup Finals: Dirk de Ridder, the wingsail trimmer and a…more

Researchers think Shackleton’s ship is still intact

Legendary explorer Ernest Shackleton’s famous ship, the Endurance, which he had to abandon in 1915 on his ill-fated Antarctic expedition, is probably still in very good condition on the ocean floor. That is one conclusion from research that studied how sunken wood degrades in southern polar waters, according to a report by BBC News. Experiments…more

Ruled expected today on alleged America’s Cup cheating

A ruling on allegations that America’s Cup defending champion Oracle Team USA cheated was pushed back to this afternoon. Organizers told KTVU-AP on Monday that a decision from the international jury regarding the use of illegally modified prototype catamarans in warm-up regattas last year and earlier this year is expected later today. Although the jury…more

Bermuda Challenge duo credit DeLorme satellite help

The DeLorme inReach SE played a pivotal role as an essential satellite communications solution when Chris Fertig and Tyson Garvin achieved their record-breaking run of the Bermuda Challenge last month. InReach SE enabled Fertig and Garvin to communicate their location, speed and heading, along with other pertinent information, to multiple recipients via text messages and…more

America’s Cup final matchup is set

Emirates Team New Zealand won the 30th anniversary Louis Vuitton Cup with a 3:20 victory over Italy’s Luna Rossa Challenge in the eighth and deciding race. The Kiwis, who beat Luna Rossa in the previous Louis Vuitton Cup in 2007, won the series 7-1. The victory makes Emirates Team New Zealand the official challenger to…more

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