DPSGY Deutsche Post AG (PK)

HANJIN SHIPPING

U.S. Bans Crews From Coming Ashore

Crews aboard Hanjin Shipping Co. vessels docked at American ports are being barred by U.S. immigration officials from coming ashore, a decision labor groups say goes against international seafarers' conventions.

Sailors on several Hanjin ships were denied shore leave out of concern they night not return to their ships, U.S. Customs and Border Protection said. The concerns arose after the shipowner filed for bankruptcy protection late last month.

For the crews, "the uncertainty of the situation was weighing on them," said Jeff Engels, U.S. West Coast coordinator for the International Transport Workers' Federation.

On Monday, dockworkers at the Port of Seattle staged a brief work stoppage in solidarity after crew members of the Hanjin Marine dropped a banner off the side of that ship that read, "We deserve shore leave."

On shore, "you take for granted that you can smell flowers, hear birds or check what movie's playing," Mr. Engels said. "When that's denied, it's like a gut punch."

--Erica E. Phillips

SOLARCITY

New CFO Is Named; Deal With Citi Is Set

SolarCity Corp. named a new chief financial officer and said it was teaming up with Citi on a program to finance more than $347 million in solar projects in the U.S.

The San Mateo, Calif., company promoted global capital markets executive Radford Small to finance chief.

SolarCity and Citi plan to form two funds, including one to fund $284 million of residential projects nationwide and another fund to finance $63 million of projects for small and midsize businesses in California.

The moves come as the cash-strapped company has been striving to survive as a stand-alone company until its planned merger with Tesla Motors Inc.

SolarCity said President Tanguy Serra, who previously oversaw finance as part of his responsibilities, will leave the company at year's end after the Tesla deal is expected to close.

--Tess Stynes

COSI

Sandwich Chain Files for Chapter 11

Cash-strapped soup and sandwich chain Cosi Inc. has filed for chapter 11 protection with plans of selling itself to lenders.

The chain, which filed in the U.S. Bankruptcy Court in Boston, and listed assets of $31.2 million and debts of $19.8 million, blamed economic conditions in its industry that have "negatively impacted sales and restaurant-level profits," according to court papers.

--Lillian Rizzo

(END) Dow Jones Newswires

September 29, 2016 02:48 ET (06:48 GMT)

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