Financial news on October 19th, 2013
Business and Financial news
BP plans to drill 16 to 18 exploration wells with an overall exploration cost of about $3 billion, indicating recovery from paralysis that followed the 2010 Gulf of Mexico disaster. Read more..
Canada and the European Union tentatively agree to sweeping trade agreement that could increase bilateral trade by about 23 percent, or $35 billion; limited details released indicate that final deal may focus as much on adjusting import-export quotas and fine-tuning regulations as easing tariffs. Read more..
“The Millers,” “The Crazy Ones” and “Mom” won early votes of confidence from CBS, which needs a successor to “How I Met Your Mother.” Read more..
Floyd Norris Off The Charts column examines worldwide trends in industrial production, in years following collapse during financial crisis; notes that production has slowed to a crawl in Europe, gently rebounded in the United States, and continued rapid growth in emerging markets like China and India. Read more..
The sitcom has been picked up for the full season and was given the prime placement of following the Super Bowl in February. Read more..
The long-running securities fraud lawsuit relates to a lending business that the British bank acquired in the United States a decade ago. Read more..
James B Stewart Common Sense column examines details of long-running legal dispute between J C Penney and Macy's over rights to Martha Stewart merchandise; concludes that letter of law clearly indicates that Stewart breached her exclusive agreement with Macy's and that J C Penney should be barred from selling her wares. Read more..
Walmart is beefing up its technology in an effort to compete with Amazon for Internet shoppers and the software engineers needed to attract them. Read more..
Paul Sullivan Wealth Matters column explores new report from US Trust revisiting perennial questions about American philanthropic habits; notes that among other surprising findings, report discovered that tax rates do not usually enter into giving decisions. Read more..