Farmer Scott Keach holds a drought-damaged soybean plant in one of his fields in his farm in Henderson, Kentucky Leaders from the 20 largest economies in the world could push for emergency measures to tame global food prices after the worst US drought since the 1950s has pushed the UN's food price index to the highest in nearly three years. Reports last week from both the US Department of Agriculture and the United Nations suggested global food prices could continue to advance to dangers levels this week after a USDA forecast for this year's corn harvest were cut for the second consecutive month. Global estimates for both corn and soybean production were also trimmed back by the World Agriculture Supply and Demand Estimates (WASDE) report, released Friday by the USDA.
Independent refiner Tesoro is snapping up BP's refining and marketing business in Southern California as well as the value of the refinery's inventory at the time of closing, for an estimated total of $2.5bn, marking the latest in a long line of sales by the trouble oil major .
Julius Baer, one of Switzerland's oldest and largest private banks, is set to buy Bank of America Merrill Lynch 's private bank outside the US, marking the latest in a line of banks that are looking to sell off its wealth management or private banking assets. In a deal worth 860m Swiss francs, Julius Baer will boost its assets under management (AuM) by 40 percent and it says that it plans to raise 1.19bn Swiss Francs in new capital following the deal
Standard Chartered is preparing to defend itself against allegations from the New York state financial regulator that it hid a quarter of a trillion US dollars in transactions tied to Iranian clients in a hearing. Reports also say it has already discussed a settlement amount to resolve the inquiry. The scheduled 15 August hearing is widely anticipated as there has been war of words between the New York 's Department of Financial Services (DFS), headed up by Benjamin Lawsky and Standard Chartered's CEO Peter Sands have flown back and forth over the last week.
This Saturday, June 16, will mark what would have been the 100th birthday of John Enoch Powell, one of the most fascinating, influential and controversial British politicians of the 20th century. Largely unknown to Americans, Powell became a symbol of the anti-immigration movement that swelled in the UK during the 1960s and 1970s.
India ’s scandal-plagued mining industry causes tremendous damage to the environment and needs to be rid of corruption caused by a lack of government regulation and oversight, according to a prominent western human rights organization. In a report entitled “Out of Control: Mining, Regulatory Failure and Human Rights in India ,” Human Rights Watch , or HRW, also condemned the nation’s mining sector for ignoring the rights of famers and indigenous peoples where mines are developed, often illegally.
Like us on Facebook And, as you might sense, the F-35 is the U.S. Department of Defense's most expensive weapons program, with the total cost of the program projected at $1.51 trillion! The notion that the United States would spent a gargantuan $134.5 million for each plane amid federal revenue scarcity (due to low income taxes on upper income groups stemming from the Bush income tax cut) represents theatre of the absurd. Moreover, since House and Senate Republicans are against raising taxes on upper income groups to increase federal revenue, the F-35 must be excluded: Congressional Democrats must oppose it -- for obvious reasons
Weaker-than-expected jobs numbers for March released Friday has put the White House on defense, and given presidential hopeful Mitt Romney and his fellow Republicans an opportunity to hammer U.S. President Barack Obama on his handling of the economy.