Saturday, June 16, 2007
Business Books: Strain on U.S. grid to make blackouts common
(Reuters) - But unless the antiquated transmission grid is fixed,
expensive blackouts that bring modern life to a grinding halt
will become ever more common, according to "Lights Out" , a new book by Jason Makansi.
Before the 1980s, power generating companies were
responsible for the entire chain of supply, from securing fuel
to transmitting power to homes. Deregulation, meant to increase
competition, has busted that chain apart and left the wires and
substations that deliver electricity as a "neglected
stepchild," Makansi writes.
Read more at Reuters.com Business News
expensive blackouts that bring modern life to a grinding halt
will become ever more common, according to "Lights Out" , a new book by Jason Makansi.
Before the 1980s, power generating companies were
responsible for the entire chain of supply, from securing fuel
to transmitting power to homes. Deregulation, meant to increase
competition, has busted that chain apart and left the wires and
substations that deliver electricity as a "neglected
stepchild," Makansi writes.
Read more at Reuters.com Business News
European Stocks Rebound Amid Signs U.S. Economy Growing Without Inflation
(Bloomberg) -- European stocks rebounded this week
after the U.S. Federal Reserve said the world's biggest economy is
growing without causing inflation, consumer prices rose less than
forecast and several companies became the subject of takeover talk.
J Sainsbury Plc jumped after a Qatar fund bought shares in the
U.K. supermarket chain, while Wolseley Plc, Imperial Chemical
Industries Plc and BHP Billiton Ltd. rallied on renewed takeover
speculation. Total SA and Royal Dutch Shell Plc paced gains among
oil producers as crude prices touched a nine-month high.
Read more at Bloomberg Stocks News
after the U.S. Federal Reserve said the world's biggest economy is
growing without causing inflation, consumer prices rose less than
forecast and several companies became the subject of takeover talk.
J Sainsbury Plc jumped after a Qatar fund bought shares in the
U.K. supermarket chain, while Wolseley Plc, Imperial Chemical
Industries Plc and BHP Billiton Ltd. rallied on renewed takeover
speculation. Total SA and Royal Dutch Shell Plc paced gains among
oil producers as crude prices touched a nine-month high.
Read more at Bloomberg Stocks News
Friday, June 15, 2007
May consumer prices rise but core prices tame
(Reuters) - A steady rise in food and energy costs pushed overall U.S. consumer prices up 0.7 percent in May, the sharpest rise in 1-1/2 years, a government report showed on Friday.
But the core measure of the Labor Department's Consumer Price Index, which removes food and energy, rose just 0.1 percent, below Wall Street's median forecast of 0.2 percent.
Read more at Reuters.com Business News
But the core measure of the Labor Department's Consumer Price Index, which removes food and energy, rose just 0.1 percent, below Wall Street's median forecast of 0.2 percent.
Read more at Reuters.com Business News
UPDATE 1-Colombia cenbank says raises key rate to 9 pct
(Reuters) - It was the seventh consecutive month that the bank raised
rates to curb inflation to within its targeted 2007 range of 4
percent plus or minus 0.5 percent. Colombian inflation was 4.48
percent in 2006.
Earlier on Friday the government revised its 2007 economic
growth estimate up to 5.8 percent from 5.5 percent. Gross
domestic product expanded by 6.8 percent last year, its best
performance since 1978.
Read more at Reuters.com Bonds News
rates to curb inflation to within its targeted 2007 range of 4
percent plus or minus 0.5 percent. Colombian inflation was 4.48
percent in 2006.
Earlier on Friday the government revised its 2007 economic
growth estimate up to 5.8 percent from 5.5 percent. Gross
domestic product expanded by 6.8 percent last year, its best
performance since 1978.
Read more at Reuters.com Bonds News
UPDATE 1-Western Oil Sands stock surges after Total report
(Reuters) - CALGARY, Alberta, June 15 - Western Oil Sands
Inc. shares jumped nearly 7 percent on Friday after a
newsletter reported Total SA may bid for the company,
known for its stake in Canada's Athabasca Oil Sands Project.
Western climbed C$2.41 to C$37.91 on the Toronto Stock
Exchange on volume of nearly 6 million shares. The stock is up
16 percent this year.
Read more at Reuters.com Mergers News
Inc. shares jumped nearly 7 percent on Friday after a
newsletter reported Total SA may bid for the company,
known for its stake in Canada's Athabasca Oil Sands Project.
Western climbed C$2.41 to C$37.91 on the Toronto Stock
Exchange on volume of nearly 6 million shares. The stock is up
16 percent this year.
Read more at Reuters.com Mergers News
Traders Place Record Bets on Canadian Dollar Gains, CFTC Statistics Show
(Bloomberg) -- Futures traders held a record number
of bets that the Canadian dollar will gain against the U.S.
dollar, figures from the Washington-based Commodity Futures
Trading Commission show.
The difference in the number of wagers by hedge funds and
other large speculators on an advance in the Canadian dollar
compared with those on a drop -- so-called net longs -- rose to
62,005 as of June 12, compared with 43,858 a week earlier. It
was the biggest amount of net longs since Bloomberg began
compiling the weekly data in 1993.
Read more at Bloomberg Currencies News
of bets that the Canadian dollar will gain against the U.S.
dollar, figures from the Washington-based Commodity Futures
Trading Commission show.
The difference in the number of wagers by hedge funds and
other large speculators on an advance in the Canadian dollar
compared with those on a drop -- so-called net longs -- rose to
62,005 as of June 12, compared with 43,858 a week earlier. It
was the biggest amount of net longs since Bloomberg began
compiling the weekly data in 1993.
Read more at Bloomberg Currencies News
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