INTERNATIONAL

Eurotunnel Cuts Duty-Free Prices: The troubled operator of the train that travels beneath the English Channel said it was reducing by 33% the price of most duty-free goods at its Folkestone and Calais terminals on either side of the Channel. The Anglo-French company faces cutthroat competition from ferry companies that sell cheap tickets subsidized by sales proceeds on duty-free goods. Eurotunnel receives 85% of its revenue from tickets and 15% from retail sales, of which 10% come from duty-free sales. The company earlier this month stopped paying interest on $12.68 billion of debt owed to 225 commercial banks.