Investors are having a rough time dealing with record oil prices and the after-effects of the credit crunch. Crude oil surged to a new intraday record above $126 a barrel. Fund managers and speculators are piling into the energy complex amid new global supply concerns. Worries now revolve around home heating oil and diesel fuel. Meantime - the dollar is heading lower and that too is giving oil prices an extra bounce. OPEC of course is monitoring the situation. The group may hold earlier-than-expected talks to discuss a possible output boost, according to an OPEC source. Citigroup announced plans to divest $400 billion in assets over the next two to three years. Newly installed CEO Vikram Pandit is trying to restore the company's image and balance sheet. His three-pronged strategy: getting fit, restructuring, and maximizing the company. Critics say he has to slash costs, shed poorly performing assets and maybe even split up the bank. The major U.S. financial institution has posted...
A bank in India is helping sex workers save their money for a brighter future. MOREINFO: The bank was started by a sex-worker collective in the heart of Mumbai's red light district. More than...
Eurozone inflation was higher than anticipated in November buoyed by rising oil prices. MOREINFO: * Eurozone inflation highest in 6 years * Germany against EU emissions proposal * European...
Fire shuts key US pipeline causing oil prices to surge more than 4 percent higher but falls as fire is extinguished and pipelines reopen. MOREINFO: * Oil falls after fire extinguished at pipeline...
Tori Spelling is a mom again. The former "Beverly Hills, 90210" star gave birth on Monday (June 09, 2008) to baby girl. It's the second child for Spelling and her husband Dean McDermott. Lindsay...
Desperately clinging on as best they can in the aftermath of typhoon Fengshen which has claimed the lives of more than 150 people across the Philippines. Rescue teams approach with caution -...
Asia stocks slid on geopolitical tensions on Friday, while gold and oil prices rose. MOREINFO: Japan's stock market ended the trading year on a sour note with markets shut for a holiday on Monday....
Asia stocks slid on Monday with investors worried about rising inflation and sluggish U.S. economic growth. Japan's benchmark Nikkei fell 2.3 percent (13,690) its biggest fall in six weeks....
Chinese airline shares plummet on takeover talk as gold and oil hover near record highs on U.S. recession worries MOREINFO: Market activity remained relatively quiet with Japan investors still on...
Asia stocks were mixed on Wednesday with oil prices a key factor as Japan returned from a long holiday. Japan's benchmark Nikkei edged up 0.4 percent (14102.48) as resource-related shares jumped...
Japan's Suzuki through majority-owned Maruti holds over half of India's car market amid hot competition. MOREINFO: CEO Osamu Suzuki says an oncoming rush of ultra-budget cars and foreign players...
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