Price of Oil Surges Past $132 a Barrel
May 21, 2008
As the price of oil reached above a new record of $132 a barrel, prices on the New York Stock Exchange started to fall. The rise has been blamed on anxiety about stretched supplies and a strong demand for energy. Read more
Nigeria Government Set to Recover $1.91bn From Shell, Exxon Mobil Oil Companies
May 20, 2008
The Nigerian government is set to recover $1.91 billion outstanding payments from Shell and Exxon Mobil, two multinational oil companies, in respect of Production Sharing Contracts (PSCs) for the Bonga and Erha oilfields, in the Niger Delta, which deep-offshore oil fields account for 20 percent of the nation’s oil production. Read more
Virgin Atlantic Chairman Hails Great Success of Mauritius-London Route
May 20, 2008
The chairman of Virgin Atlantic (VA) the second most profitable airline company in the UK, Sir Richard Branson, Monday expressed satisfaction with the success of the Virgin service between Mauritius and London Heathrow airport in Britain with 25,000 passengers in six months. Read more
WaMu Cuts $6 Billion in Home Equity Lines of Credit
May 20, 2008
Washington Mutual Inc. (WM: 9.9785, -0.61%) has either suspended or cut down a total of $6 billion in available home equity lines of credit in the latest effort by a major bank to reduce its exposure to the mortgage mess. The cuts, which were first reported last week by National Mortgage News, affect an unknown number of customers; the bank has declined to identify the number of affected customers to the press. Read more
Sportsdirect.com Retail Ltd, Hargreaves (Sports) Ltd And Gilesports Plc Agree to Undertakings
May 20, 2008
Following discussion with the U.K.’s Office of Fair Trading (OFT), Sportsdirect.com Retail Ltd (previous name: Sports World International Ltd), Hargreaves (Sports) Ltd and Gilesports plc have agreed to provide undertakings not to mislead consumers over any future ‘closing down’ promotions. Read more
Alico to Close Plant World Operations, Company to Assess Best Commercial Use of Prime Location
May 20, 2008
Alico, Inc. a land management company, has announced that the Company would be discontinuing its Plant World Operations due to disappointing financial returns. Alico acquired Plant World, which is located on prime LaBelle real estate abutting State Road 80, in September 2004. Read more
