OIL FUTURES: Nymex Crude Rises; Fed Minutes Stoke Optimism
Crude oil futures ended higher after meeting minutes from the Federal Reserve's policy-making arm indicated further monetary easing could be deemed necessary "fairly soon." Light, sweet crude for October delivery rose 42 cents, or 0.4%, to settle at $97.26 a barrel on the New York Mercantile
Port of Virginia Bids Value Long-Term Lease At $2 Billion to $4.6 Billion
Three rival bidders have emerged to operate the Port of Virginia in a closely-watched contest to run one of the country's largest logistics hubs.
Gilead Sciences Faces Pressure to Keep Price Low on New HIV Drug
Gilead Sciences Inc. (GILD) may get clearance by next week to sell what is expected to become a blockbuster HIV drug, but the company already faces a controversy over how much it will cost.
U.S. Capital-Equipment Loans, Leases Up 15.8% In July - Survey
A survey of credit providers indicated that loans and leases for business equipment in the U.S. rose 15.8% in July from a year earlier, suggesting that businesses haven't pulled back on purchasing despite uncertainty about global economic conditions.
South Africa Mine Protests Spread To Two More Companies
MARIKANA, South Africa--Workers clamored for higher wages Wednesday at two more platinum companies in South Africa's mining heartland, less than a week after police shot and killed 34 people at a violent protest at Lonmin PLC's (LMI.LN) Marikana mine.
Spot Market Iron Ore Prices Fall Further Despite Chinese Steel Growth
Spot market iron ore prices fell again Wednesday despite news that steel production in China, the biggest iron ore-consuming nation, continued to rise in early August.
Distressed-Debt Workout Firm Gets $84 Million in Loans From Goldman
With investor appetite for exposure to commercial real estate on the rise, St. Petersburg, Fla.-based loan-workout firm Directed Capital Resources has secured $84 million in financing from Goldman Sachs Group Inc. (GS) to close a sixth investment fund.
Oil Ends Higher On Supply Drop; Gasoline Up 1.3%
Crude-oil futures ended higher on Wednesday, supported by a larger-than-expected drop in inventories and overcoming some weakness after the release of the minutes of the latest U.S. monetary policy meeting.
CPSC: Energizer Recalls 260,000 Night Lights Due to Burn Hazard
Energizer Holdings Inc. (ENR) has agreed to recall about 260,000 night lights that were sold exclusively at Target Corp. (TGT) stores due to a burn hazard.