P&O takeover update

Red Hook Container Terminal, Brooklyn, New York New York is one of the six ports covered by the deal US President George W Bush says he will veto any law blocking a deal giving an Arab company control of six US ports.

The threat came as Bill Frist, leader of the Republican Party in the Senate, said he would move a blocking law if the government did not delay the deal.

The deal would put six of the largest ports in the hands of Dubai Ports World of the United Arab Emirates.

Some lawmakers say the US will be more vulnerable to terrorism but officials say safeguards are in place.

The ports are currently run by British ports and shipping firm P&O, which has agreed a $6.8bn (£3.9bn) takeover by DP World.

The other ports are Philadelphia, Baltimore, New Orleans and Miami.

President Bush called on opponents to explain why they opposed a Middle Eastern firm taking over when they did not oppose a British company being in control.

"I am trying to conduct foreign policy now by saying to the people of the world, 'We'll treat you fairly'," he said.