Monthly Archives: June, 2011
FTC Launches Probe Oil Trade
Regulators are to investigate whether oil companies, refiners and traders crude oil market, the latest government action stimulated by the rise in fuel prices this year manipulated. The Federal Trade Commission on Monday said in a letter to Senator Maria Cantwell (D., Washington), that an investigation to determine whether oil traders engaged in anticompetitive behavior [...]
Gold Ticks up near 2-week high, dollar softens
Gold rims on Tuesday and held near the highest in two weeks on a softer dollar against the euro and the growing fear that Greece could end up in default of its debt. BASICS * Spot gold added $ 1.40 to $ 1,541.35 an ounce by 0041 GMT after rising as high as $ 1,545.90 [...]
Stocks cheapest in 26 years as the S & P 500 Falls, 18% Profit Rise
For the second time since the bull market began, its profits are rising and falling stocks. Standard & Poor’s 500 Index companies will earn 18 percent more this year than in 2010, according to the average estimate of analysts compiled by more than 9,000. Higher profits have not stopped the meter falls 6.8 percent since [...]
Deepwater Horizon’s Top Manager will not testify in the business Spill
Transmission ocean Ltd. ‘s highest ranking employee on the drilling rig Deepwater Horizon refused to testify in civil lawsuits over the blowout that 11 workers slain causes the worst offshore oil disaster in U.S. history, according to court records. Jimmy Wayne Harrell, the rig of the offshore installation manager, was responsible for drilling activities in [...]
Japan Needs Nuclear as Main Energy : Mori
Japan needs nuclear power as main energy source and it would not follow European examples of a ban on new nuclear power plants, said Shosuke Mori, president of Kansai Electric Power Co., the nation’s second largest energy producer. “It’s the only way to a stable supply of environmentally clean electricity at a relatively low cost [...]