Oil jumped more than a dollar to above $60 on Thursday after an OPEC delegate said the producer group will cut output by 1 million barrels per day as soon as possible to prop up prices. Top world exporter Saudi Arabia will lower production by 300,000 barrels per day as part of the plan,...
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With oil prices falling below the psychological $60 mark and showing no signs of upward movement there are rumours that OPEC countries may be considering an across the board drop output ahead of Decembers meeting in Nigeria. Clearly this is a bluff. One of the problems facing the oil producing countries is that in...
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As oil slid below $60 a barrel on Asian markets for the first time in six months various analysts popped out of the woodwork to pronounce that oil still has much further to fall, with many predicting it could easily fall back to as little as $40 a barrel if a compromise is made...
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In an attempt to stem the growing scandal at HP, the board of directors has forced Chairperson, Patricia Dunn to resign from her position and severe all ties with the company. The Palo Alto, Calif.-based company will turn the chairmanship over to its chief executive, Mark Hurd, who was supposed to take over that...
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Stocks across Europe fell as weak corporate growth and profitability were forecast in the USA by a survey at the Philadelphia Federal Reserve. Wall Street extended losses overnight, affecting confidence of global markets as the worlds largest consumer country stuttered.The FTSE 100 fell near 1 percent mid morning on worries about that a global...
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