Tracking Ups And Downs Of Global Oil Demand
When demand for oil rises, so does the price — which leads many people to try to go without, bringing the price back down. John Kingston, director of oil at Platts, which publishes Oilgram News, says the decreased demand for oil in the U.S. has helped bring global oil prices down.
Airline Service In Smaller Markets Takes Nosedive
With the price of jet fuel doubling in the past year, airlines are trying to rid themselves of unprofitable routes. Since it's hard to make a profit flying short distances into small and medium-sized airports, some airlines are drastically cutting back service or getting out of those markets altogether.
Rwanda Implicates 33 French Officials In Genocide
The Rwandan government has accused senior French officials of direct involvement in the slaughter of 800,000 people in 1994. A report from a Rwandan commission investigating the genocide alleges that 33 senior French officials were complicit in it. France says its forces in Rwanda at the time were trying to stop the killing.
Farming Is Latest Casualty In Drought-Stricken Iraq
Across Iraq, farmers are struggling with the worst drought the country has faced in years. Some say it's the worst they've seen in their lifetime — and not just because of the lack of rain. Some Iraqi officials blame waste and regional politics, as well as the fighting in Iraqi bread baskets.
After Quake, Entrepreneurs Do Business In Tents
Despite government claims that it will restore the living standards of quake survivors in just three years, many Chinese aren't waiting for a permanent structure to open shop. They're using tents for barber shops, restaurants and stores.
Miss. Senate Race Duked Out At County Fair
Mississippi's senior Senate seat — one held by Trent Lott for almost 19 years — is finally up for grabs. As the campaign season heats up, the candidates address crowds at the Neshoba County Fair, otherwise knows as Mississippi's "Giant House Party."
China's Biggest Lender To Open Branch In N.Y.
The Federal Reserve on Tuesday said it is allowing China's biggest lender to open up shop in the U.S. — yet another sign of the intertwining of the two nation's economies. The Industrial and Commercial Bank of China, or ICBC, will open its first branch in New York. China's government owns 75 percent of the bank. U.S. investment bank Goldman Sachs owns a small stake.
U.S. Stores Hacked; 40 Million Card Numbers Stolen
The Justice Department has filed criminal charges against 11 suspects in what officials are calling the largest hacking and identity theft case the department has ever prosecuted. The government alleges that the ring hacked the computer systems of major retailers and stole credit and debit card numbers.
U.S. Car Dealers Find Overseas Market Online
In New Jersey's high-end used automobile dealerships, showrooms are quiet. But some dealers say business is booming: They're shipping secondhand trophy cars to buyers overseas.
Circuit City Apologizes For Pulling 'Mad' Magazine
Circuit City has issued an apology after company officials pulled a magazine from store shelves. The issue of Mad magazine featured "Sucker City," a parody of the electronics chain. The apology mentions a new task force on "the importance of humor in the corporate workplace" and includes $20 gift cards for the magazine's editors.