The price of oil slid Monday as traders braced for softer demand amid an increase in the number of active rigs and weak U.S. economic reports on construction spending and manufacturing.
Source:CBC | Business News http://ift.tt/1M7lHrY
lundi 3 août 2015
Former trader Tom Hayes gets prison sentence for manipulating Libor
A British judge sentenced a former Citibank and UBS trader to 14 years in prison Monday after a jury found him guilty of masterminding the manipulation of a key interest rate, the London Interbank Lending Rate, or Libor.
Source :CBC | Business News http://ift.tt/1KMLGBK
Barack Obama sets stricter power plant emissions cuts
U.S. President Barack Obama announces even steeper greenhouse gas cuts from U.S. power plants than previously expected.
Source :CBC | Business News http://ift.tt/1KMLIJX
Former trader Tom Hayes gets prison sentence for manipulating Libor
A British judge sentenced a former Citibank and UBS trader to 14 years in prison Monday after a jury found him guilty of masterminding the manipulation of a key interest rate, the London Interbank Lending Rate, or Libor.
Source:CBC | Business News http://ift.tt/1KMLGBK
Barack Obama sets stricter power plant emissions cuts
U.S. President Barack Obama announces even steeper greenhouse gas cuts from U.S. power plants than previously expected.
Source:CBC | Business News http://ift.tt/1KMLIJX
How weak regulation is helping to build corporate kingdoms in America
"IF WE will not endure a king as a political power, we should not endure a king over the production, transportation, and sale of any of the necessaries of life." So said Senator John Sherman, who proposed the first American law against monopolies in 1890. Merging firms, however, argue that they will rule benevolently and lower prices. They claim that savings made from combining their efforts will be passed on to customers. The problem for regulators is that it is difficult to tell how much firms are fibbing. Prices can change for many reasons—higher costs, tariff changes, consumers’ tastes—and a price rise after a merger might not directly be the result of price fixing by a newly crowned monopoly.
A new paper published earlier this summer in the RAND Journal of Economics tests whether regulators made the right call in the American beer industry. The paper looks at the 2008 merger of Miller and Coors, the second and third largest brewers at the time in the United States. Miller and Coors argued that a merger would combine their distribution networks, thus reducing transportation costs. Regulators worried that the merger would create one “superbrand” in some...Continue reading
Source :Business and finance http://ift.tt/1SWIWDD
Hydro-Québec looks to northeastern U.S.
Plenty of raw electricity sloshes around in Quebec's rivers and reservoirs, promising relief for U.S. northeasterners, who pay the nation's highest power costs.
Source :CBC | Business News http://ift.tt/1N4ZhVl
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