BG strikes oil in Santos Basin off Brazil coast BG Group has made a "material" new oil discovery at its Iara well in Brazil's subsalt reserves, its sixth-straight success in the deep water Santos Basin since drilling began, the British gas producer said on Friday.
Airlines must "change the rules" in order to survive high oil prices and the other challenges the industry faces, said Doug Parker, chairman and CEO of US Airways Group.
General Motors is in talks with Indian automaker Mahindra & Mahindra to sell its iconic Hummer brand, sources familiar with the matter said.