BRASILIA, July 7- Brazil's Senate may vote on Wednesday on a bill ending state-run oil company Petrobras' leadership and mandatory minimum stake in a giant offshore oil district known as the subsalt, a key leader in the Brazilian upper house of Congress said on Tuesday. The Senate will likely put the bill up for a vote in the morning, said Delcídio Amaral, the leader...» Read More
In an earlier post we talked about the issue of hedge fund returns vs. index funds. That's one battle for the massive hedge fund industry--but there's another that's maybe more important: The issue of transparency. Hedge funds might not be publicly traded, but the U.S. Securities and Exchange Commission requires that money managers overseeing more than $100 million disclose their holdings...
The addictive nature of the BlackBerry is being blamed as the cause of a recent highway pile-up in the state of Washington. The 53-year-old driver told troopers he'd been using his BlackBerry at the time of the crash. On "Squawk Box"--CNBC’s Becky Quick took a closer look at the hand held device and whether legislation is needed to prevent people from using them while driving.
It has been one year since the U.S. Senate enacted a massive overhaul of laws to regulate filing for bankruptcy. Filings are at a 10-year low since then – but there’s skepticism about whether these reforms are really helping. Robert Lawless – professor at the University of Illinois College of Law – will appear before a Senate judiciary committee today to give his take on just how effective these laws have been.
America's energy needs--and what should or should not be done for them--are on the minds of many in Washington D.C. The U.S. House of Representatives postponed a vote this week on a Senate-approved bill to allow drilling in the Gulf of Mexico. Also – President George W. Bush is considering suspending a moratorium on oil and natural gas drilling in Bristol Bay in Alaska – which is home to the world’s largest wild salmon run.
As we've reported--New York became the first city in the U.S. to ban trans-fats in restaurant food. But the ban will affect companies with a reach far beyond the Five Boroughs. Wendy’s International, McDonald’s, Kraft and Kellogg will all have to adjust as a result – at least in the near term – at the expense of their P&L sheets.
Here's the latest update on the trans-fat ban: New York is about to become the first large American city to strictly limit trans-fats in all of its restaurants. The city's board of health voted to eliminate the unhealthy oil from nearly 20,000 eateries, from street corner vendors to the most expensive dining establishments. So why does the health world hate trans-fat so much?
In just a few hours-- the trans fat showdown begins in The Big Apple when the New York City Health Department issues its vote on eliminating them from city restaurants. CNBC’s Mary Thompson "cut through the fat" to give the details on “Squawk Box.”
A new stock market regulatory agency is about to ride into town. The New York Stock Exchange and the NASD are announcing plans to combine their regulatory operations--and make the world's largest securities watch dog.
There's more than just a little rumbling over the Sarbanes-Oxley act--since it's become law in the U.S. Many say it's hurting companies with all of its compliance requirements--and hurting the stock market--particularly IPO's.
There’s legislation being debated in the U.S. Senate on whether to allow more oil drilling in the Gulf of Mexico. It's not just the oil--but the oil revenues coming in that's a big part of this. The benefit for nearby states is the chance of collecting federal royalties – as much as $650 million for each state.