A federal mediator is stepping into the West Coast port contract discussions, aimed at spurring action after months of slow activity and negotiation delays. The US Federal Mediation and Conciliation Service announced its involvement in the talks earlier this week.
In other federal news, President Barack Obama is prepared to veto any bill Congress passes approving the Keystone XL oil pipeline. The pipeline, if constructed, would transport crude oil from Alberta, Canada, to Nebraska.
Mercedes-Benz USA is relocating its headquarters from Montvale, New Jersey, to Georgia. The move to the South is scheduled to begin in July.
Daikin Industries Ltd., the Japanese air conditioner manufacturer, is building a new factory near Houston. The new $410 million facility is set to begin operating in early 2016.