Piracy Cost International Economy $12 Billion

Piracy Cost International Economy $12 Billion Play

Nov. 3 (Bloomberg) -- Shipping companies are turning to new technology as a way to fend-off pirates and cut costs. In 2010, piracy cost the international economy as much as $12 billion. During a Nov. 1 event in Baltimore, Maryland, some of those new enhancements were showcased, including skunk-smelling water and propeller-tangling ropes. Bloomberg's Megan Hughes reports. (Source: Bloomberg)

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