The current flatness in prices isn’t what the Federal Reserve wants. It would much rather see a little more inflation in the economy. Says Great Depression scholar Ben Bernanke: “Further disinflation would be unwelcome.” The Fe…
To hear the pundits tell it, Greece’s debt woes signaled the end of the euro, or worse. Yet, the country’s rebound grabs few headlines. This pattern is getting repeated over and over, much to investors’ detriment.
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Some OPEC members want oil prices to rise to $100 a barrel to offset the decline in the dollar.
The value of the dollar, which has slipped 13% since June against major world currencies, means that the “real price” of oil is about $20 less than current levels, Venezuela’s Energy and Oil Minister Rafael Ramirez said after Thursday’s OPEC meeting in Vienna.
OPEC, which accounts for…
Continue reading Some OPEC Members Push for $100 a Barrel Oil
Some OPEC Members Push for $100 a Barrel Oil originally appeared on DailyFinance on Fri, 15 Oct 2010 07:57:00.
Filed Under: Energy, Technology, Green, Market News
Seagate Technology (STX) surged in premarket trading after saying that it received an indication of interest about going private.
Seagate, which makes hard disk drives and storage products, gained 20.96% to $15.35 a share at 6:19 am, from Thursday’s closing price of $12.69.
The company said Thursday that it is in discussions with the party that indicated interest. Seagate has…
Continue reading Seagate Shares Jump as It Considers Going Private
Seagate Shares Jump as It Considers Going Private originally appeared on DailyFinance on Fri, 15 Oct 2010 06:37:00.
Filed Under: Company News, Technology, Stocks in the News, Market News
Cotton prices jumped to a record high on Friday on strong Chinese demand and the prospect of reduced supply.
In New York, ICE December cotton futures touched 119.80 cents a pound, the highest price since 1995, The Financial Times reported.
Rising cotton prices will mean higher clothing prices, especially in low-cost items such as t-shirts and underwear. Jeans-maker Levi Strauss has…
Continue reading Cotton Prices Jump to Record High
Cotton Prices Jump to Record High originally appeared on DailyFinance on Fri, 15 Oct 2010 06:26:00.
Filed Under: Green, Retail, Market News