TRIPOLI, March 14- Libya's state oil company on Friday declared force majeure for the Hariga oil export port in eastern Libya, which has been blocked by protesters since August. State-owned National Oil Corp had lifted the suspension of contractual obligations under force majeure at Hariga at the end of October.» Read More
The already roiled markets have a new fear: the survival of AIG.
Lehman Brothers filed for bankruptcy on Sunday to become the largest casualty of the global crisis, while Bank of America adds another slice to its growing financial services empire, buying Merrill Lynch in a $50 billion deal. Following are today's top videos:
Oil prices, which plunged nearly $6 on Monday as the Wall Street crisis rattled investors, is likely to continue falling even more, experts say.
Today marks the last day of General Motors first 100 years. While the company will mark the occasion tomorrow by unveiling it's new electric car, the Chevy Volt, I have a much more sobering question:
I have stated that forecasts from some of my fellow analysts on Wall Street of crude oil hitting $150 by the end of the year were too rich for my blood. However, similar calls for sub-$80 crude were too low. I would look for oil to retake the $100 level, and maintain it through the fourth quarter.
The financial sector took another hit after Lehman Brothers filed for bankruptcy protection on Sunday and Wall Street scrambled to shore up the system.
Two oil rigs broke loose from their moorings in the Gulf of Mexico during Hurricane Ike, CNBC has learned Saturday.
But CEO Ray Milchovich is fighting back. Here's what he had to say.
Home to abundant oil reserves, Russia rarely worried about where the next barrel would come from—until now.
The Dow closed lower on Friday as investors grew increasingly nervous about the uncertainty around Lehman Brothers.
Top economists discuss the fate of Lehman Brothers and how the company's outcome will affect the stock market while the CEO of Ford restructures his company—focusing on improving fuel mileage and efficiency. Plus, Hurricane Ike is expected to strike the southern US coast early on Saturday, bringing a massive storm surge that could prove fatal for those who have not left the area. Following are today's top videos:
For the week ending Friday, September 2, 2008, the major U.S. Indices finished up for a week marked with the demise of more financial stocks, sluggish Retail Sales data, a steeper than expected decline in Pending Home Sales, and a looming hurricane in the Gulf of Mexico. Volatility continues to dominate the markets as the Dow posted a 2 day consecutive up/down point move of 569 points on Monday and Tuesday (up 289 and then down 280), its largest 2-day up/down point swing since June 6. The CBOE Volatility Index (VIX) which measures market uncertainty reached an intraday high of 26.67 on Friday.
On a week where Financials dominated the market, Freddie and Fannie lost over 90% of their share price, followed by Lehman at a loss of almost 78%; the markets still managed to close positive on the week.
A quick look at key issues behind Russia's effort to increase oil production.
CEOs from various industries gathered to talk about the recent events in the economy and its affects on their companies. Watch the following videos for what each had to say.
When Ford CEO Alan Mulally sat down with me and the anchors of "Squawk Box" this morning, his candid comments about federal loans to automakers show congress is likely to lend the money. As I've said before, I think it's money well spent.
Today marks the seventh year since the September 11 terrorist attacks—the Nymex and the White House obeserve a moment of silence to remember when the first plane hit the World Trade Center. Research in Motion's CEO talks about the company's new Blackberry—Bold. Following are today's top videos:
The Dow rose on Thursday after a late day report suggested that Bank of America is in talks to buy embattled investment bank Lehman Brothers.
Stocks slid into home plate with a late rally that bumped the Dow up nearly 170 points as oil flirted with $100 a barrel and the market was abuzz with speculation that a resolution for Lehman Brothers could happen within days.
You know the oil markets are in touble when even a hurricane can't stop prices from falling.