Reuters
Thu Jun 1, 2006 TOKYO - Japanese Finance Minister Sadakazu Tanigaki said on Friday countries should not rely just on currencies to address global imbalances.
"To rely only on currencies is not the right path to take," Tanigaki told a news conference. "Each country should focus on structural reforms, and (the G7 countries) have agreed on that." He also said high oil prices and their impact on the global economy are likely to be a topic for discussion at a meeting of the Group of Eight finance chiefs in St. Petersburg on June 9-10. |
AP
June 2, 2006 WASHINGTON - Oil prices jumped by more than $1 a barrel on Friday after it was reported that eight foreigners working on a drilling rig off the coast of Nigeria had been kidnapped, reigniting concerns about the stability of supplies flowing from the oil-rich African nation.
Analysts said anxiety over Iran's nuclear ambitions continued to support crude futures. U.S. data showing gasoline demand on the rise at the start of the summer driving season and a refinery snag in Texas also added strength to the rally. |
Reuters
June 2, 2006 WASHINGTON - U.S. employers added only 75,000 new workers to their payrolls last month, far fewer than expected and the weakest gain since hurricane-depressed October, but the unemployment rate slipped to a five-year low of 4.6 percent, the Labor Department said on Friday.
Outside of the drop in the unemployment rate, however, the overall tone of the jobs report, which showed employment growth slowing for the third straight month, was weaker than economists had expected. Average hourly earnings edged up just 1 cent, or 0.1 percent, the length of the average workweek dropped back from a 3-1/2 year high struck in April, and the job growth for the prior two months was revised down by a net 37,000. |
By Chris Baltimore
Reuters Thu Jun 1, 2006 WASHINGTON - The U.S. government on Thursday said it will pursue $92 million in extra damage claims against Exxon Mobil Corp. for the 1989 Exxon Valdez oil spill in Alaska, the worst in U.S. history.
Four U.S. agencies including the Justice Department and the state of Alaska say it will cost that much more to clean up lingering environmental damage from when the Exxon Valdez supertanker ran aground in Alaska's Prince William Sound and spilled about 11 million gallons of crude oil. Irving, Texas-based Exxon Mobil, the world's largest publicly traded oil company, has already paid $900 million in a 1991 civil settlement. |
By Megan Davies
Reuters June 2, 2006 NEW YORK - NYSE Group Inc. struck a deal to buy European bourse operator Euronext for 7.78 billion euros ($9.96 billion), beating out rival bidder Deutsche Boerse AG and putting it on track to create the first transatlantic stock exchange.
Termed a merger of equals by the pair, the new company will be called NYSE Euronext and will have U.S. headquarters in New York, international headquarters in Paris and Amsterdam and its derivatives business located in London. NYSE's CEO John Thain will be chief executive of the combined group. |
AFP
June 1, 2006 PARIS - The market for solar water heaters in Europe grew by 18 percent in 2005 compared with 2004 measured by installed equipment, according to provisional figures published on Thursday by Tecsol, a French consultancy that monitors the solar energy market.
A total of 14 million square metres of solar panels for water heaters were operating in Europe at the end of last year, a rise of 18 percent or 1.9 million square metres over 2004. Germany is by far the biggest market, accounting for 5.6 million square metres, although France saw the biggest year-on-year gain - an increase of 134 percent in 2005 over 2004. |
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