 |  |
| Squabble At Sea |
 IN tropical waters off the coast of the
Philippines, a standoff between half a
dozen Chinese fishing boats, two
Chinese law enforcement vessels and
an aging Philippine navy ship recently
attracted a lot of attention in
Washington. |
|
| |  |
| WHY RESCUE BANKS,
NOT THE JOBLESS |
 OH, wow - another bank
bailout, this time in Spain.
Who could have predicted
that? The answer, of
course, is everybody. In
fact, the whole story is starting to
feel like a comedy routine: Yet
again ... |
|
| | |
|
|
|
|
 | World oil reserves up
8%, supply fears persist
THE world´s store of oil and gas
jumped 8.3 percent last year, as
exploration rose and record crude
prices made marginal projects
commercially viable, yet supplies
will struggle to meet demand due
to political factors, oil giant BP said
on Wednesday.
BP said in ...
|
|
| | Oil prices fall, but still too high |  THE eurozone debt crisis, a
Chinese slowdown and
increased supply depressed
oil prices in May but despite
prospects of a sharp drop,
they still remain high and
crimp growth, the IEA said on
Wednesday.
Recent falls "accelerated in
May in the wake of the deepening
eurozone crisis, mounting
concern over a slowdown in
Chinese growth and rising
global oil supplies," the IEA
said in its latest monthly report.
At the same time, however,
"prices remain very high in historical
terms and are acting as a
drag on household and government
budgets," it cautioned.
The comments come as the
Organisation of Petroleum
Exporting Countries meets in
Vienna on Thursday when it is
widely expected to leave its
production ceiling unchanged
... | | | Delta to take
control of US
refinery on
June 22 |
 DELTA Airlines is set to
close its landmark deal to
buy the Trainer,
Pennsylvania, refinery on
time later this month,
allowing it to begin a longdelayed
maintenance overhaul
in early July, sources
said on Tuesday.
Delta will take possession
of the 185,000 refinery
from Phillips 66 on
June 22, according to
sources familiar with the
situation. Workers are
expected to return to work
the week of June 25, after
the transfer of assets.
A plant-wide turnaround
lasting 40 to 50 days is
expected to begin after July
4, allowing the idled plant
to resume producing fuel,
one source said. The major
maintenance, which is
required every five years,
was originally due in the
spring of 2011, but had been
deferred until the plant was
shut later that year.
A Phillips... | | | France to cap executive pay
at €450,000 for state firms |  FRANCE´S finance minister
announced on Wednesday
plans to limit executive pay
at state-owned companies
to 450,000 euros
($560,000) per year, calling
the measure a matter of
justice and morality.
The pay cap — which
delivers on a campaign-trail
promise by France´s new
Socialist President Francois
Hollande, who sought to
tap widespread public
anger over executive salary
packages — will take effect
in 2012 or 2013 depending
on the company, Finance
Minister Pierre Moscovici
said.
"Earning 450,000 euros a
year doesn´t seem to me a
deterrent if we want to have
quality men and women at
the head of our companies,"
Moscovici told a press conference
after a cabinet
meeting where he presented
plans for the cap.
| |
|
|
|
|
|
|
|
|
