Singh Caps Year of Failure With Graft Uproar - Bloomberg

Prime Minister Manmohan Singh failed to win passage of his anti-corruption bill as an uproar broke out in India

China

Export-Import Bank of China extended $12.5 billion more in loans to sub-Saharan Africa in the past decade than the World Bank, Fitch Ratings said.
State-owned […]

REITs prove to be surprisingly reliable

It may seem surprising that some forms of real estate have been among the most reliable of investments.
Real estate investment trusts, known as REITs, invest […]

OPEC officially raises oil output

+%3Cp%3E+For+the+first+time+in+three+years%2C+OPEC+nations+agreed+Wednesday+to+a+higher+oil+output+level+despite+continuing+uncertainty+in+the+global+economy.%3C%2Fp%3E%3Cp%3EBut+analysts+said+the+new+output+level+of+30+million+barrels+a+day+would+have+little+impact+on+world+oil+prices.+Thanks+to+overproduction+by+some+members%2C+the+cartel+is+already+producing+that+much+oil.%3C%2Fp%3E%3Cp%3E%3Cp%3E%3C%2Fp%3E%3Cp%3E%3Cp%3E%3C%2Fp%3E%3C%2Fp%3E%3C%2Fp%3E%3Cp%3E%26quot%3BOPEC%27s+decision+today+to+raise+the+official+target+for+the+cartel%27s+oil+output+to+close+to+the+current+level+of+production+will+make+no+real+difference+on+the+ground%2C%26quot%3B+Julian+Jessop%2C+chief+global+economist+at+Capital+Economics%2C+wrote+in+a+note+Wednesday.+%26quot%3BThe+bigger+picture+is+that+the+latest+demand+forecasts+from+both+OPEC+and+the+International+Energy+Agency+still+look+too+high+and+that+oil+prices+have+further+to+fall.%26quot%3B%3C%2Fp%3E%3Cp%3EOPEC%27s+last+official+production+target+was+just+under+25+million+barrels+per+day+set+in+2008.+The+world+currently+produces+just+under+88+million+barrels+of+oil+per+day%2C+according+to+the+U.S.+Energy+Information+Administration.%3C%2Fp%3E%3Cp%3EOil+prices+in+the+U.S.+have+been+hovering+around+%24100+a+barrel+for+the+last+several+weeks.+%3C%2Fp%3E%3Cp%3EU.S.+oil+prices+have+risen+a+bit+in+recent+months+as+a+supply+glut+in+the+United+States+began+to+resolve+itself%2C+but+they+are+lower+than+the+%24112+a+barrel+seen+at+the+start+of+the+year+following+the+Middle+East+protests+and+a+loss+of+oil+from+Libya.%3C%2Fp%3E%3Cp%3EThe+Libyan+loss+was+largely+made+up+for+by+Saudi+Arabia%2C+which+went+against+its+fellow+OPEC+members+and+raised+production.%3C%2Fp%3E%3Cp%3EWednesday%27s+agreement+announced+at+the+conclusion+of+the+annual+OPEC+conference+held+in+Vienna+allows+for+Saudi+Arabia+to+continue+producing+oil+at+current+levels+even+though+oil+from+Libya+is+returning+to+market+and+output+from+Iraq+is+increasing+%3Ca+href%3D%22http%3A%2F%2Fus-fast-cash-now.com%22%3Eonline+cash+advance%3C%2Fa%3E%3C%21–+.+–%3E.%3C%2Fp%3E%3Cp%3EIt+represents+a+bit+of+a+victory+for+Saudi+Arabia%2C+which+has+argued+for+higher+oil+production+against+some+other+OPEC+countries+like+Iran+and+Venezuela%2C+which+wanted+to+limit+output.%3C%2Fp%3E%3Cp%3EBut+OPEC+left+the+door+open+to+future+production+cuts.%3C%2Fp%3E%3Cp%3E%26quot%3BThe+Conference+also+agreed+that+Member+Countries+would%2C+if+necessary%2C+take+steps+%28including+voluntary+downward+adjustments+of+output%29+to+ensure+market+balance+and+reasonable+price+levels%2C%26quot%3B+OPEC+said+in+a+statement+on+its+Web+site.%3C%2Fp%3E%3Cp%3EOPEC+is+often+vague+and+divided+about+what+it+considers+%26quot%3Breasonable+price+levels%26quot%3B.+Last+week+OPEC+Secretary+General+Abdulla+Salem+El+Badri%2C+himself+a+Libyan%2C+described+current+prices+as+%26quot%3Bcomfortable.%26quot%3B%3C%2Fp%3E%3Cp%3EBut+it%27s+been+reported+that+certain+ministers+in+Saudi+Arabia+and+the+Gulf+states+would+prefer+a+price+closer+to+%2480+a+barrel+in+an+attempt+to+spur+global+economic+growth.+%3C%2Fp%3E%3Cp%3ESome+analysts+are+expecting+Saudi+Arabia+to+eventually+cut+production%2C+especially+if+supplies+swell.%3C%2Fp%3E%3Cp%3E%26quot%3BRelatively+weak+global+demand+growth+coupled+with+the+gradual+recovery+in+Libyan+output+and+a+resumption+of+growth+in+Iraqi+output+will+lead+to+a+Saudi+pullback+of+at+least+500%2C000+barrels+per+day%26quot%3B+by+early+next+year%2C+Greg+Priddy%2C+a+global+energy+analyst+at+the+political+risk+consultancy+Eurasia+Group%2C+wrote+in+a+research+note+earlier+this+week.+%26nbsp%3B+%3C%2Fp%3E++%3Cp%3E%3Ca+href%3D%27http%3A%2F%2Fmoney.cnn.com%2F2011%2F12%2F14%2Fmarkets%2Fopec_oil%2Findex.htm%27+rel%3D%27nofollow%27%3ESource%3C%2Fa%3E%3C%2Fp%3E+

CNN star Piers Morgan faces questions over past

CNN star Piers Morgan may be known to Americans as an empathetic English interviewer, but it’s his past at the heart of Britain’s troubled tabloid […]

Egypt’s military clashes with protesters

Soldiers stormed an anti-military protest camp outside Egypt’s Cabinet building Friday, beating women with sticks and hurling chunks of concrete and glass onto protesters from […]

Delta Air Lines predicts 2011 profit of $800M

Delta Air Lines Inc. says it expects an $800 million profit this year, and it will be solidly profitable in 2012.
The company says in a […]

Best Buy 3rd-quarter profit falls, shares skid

Electronics retailer Best Buy said Tuesday that its third-quarter net income fell 29 percent as it cut prices in popular categories such as tablets and […]

FedEx

Despite much talk about a gloomy economy, the packages are flying at FedEx.
Today is projected to be the busiest day, in which 17 million packages […]

Wells Fargo settles muni bid-rigging case for $148 million

Wells Fargo will pay $148.2 million to settle federal and state charges that it rigged dozens of bidding competitions to win business from cities and […]