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  Thursday, 27 Jan 2011 | 10:32 AM ET

Gary Luquette: The Industry in The Gulf is on Life Support

Posted By: Lori Ann LaRocco

The Senate Energy and Natural Resources Committee kicked off their first hearing of the new Congress with one of the most controversial topics in the energy sphere: the safety of deep water drilling. The committee examined the report and recommendations issued by the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling.

I decided to sit down and speak with Gary Luquette, President of Chevron's North America ExplorationandProduction , on his thoughts on the hearing and the impact the unofficial moratorium is having on the industry.

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  Thursday, 27 Jan 2011 | 9:52 AM ET

Davos Wives Versus Davos Mistresses Versus Aspiring Davos Mistresses

Posted By: John Carney
Sam Bassett | Riser | Getty Images

The single best column out of Davos this year has to be Anya Schiffrin’s piece titled “Jealous Davos Mistresses .”

Schiffrin, who is the wife of Joseph Stiglitz, describes the caste system created by the nametags handed out to attendees at the Davos World Economic Forum.

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  Thursday, 27 Jan 2011 | 9:43 AM ET

Here's The Video of Sean Parker You've Been Waiting For

Posted By: Kerima Greene

Sean Parker, Founders Fund LLC CEO and early Facebook investor, stops long enough to tell CNBC he doesn't have time to talk.

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  Thursday, 27 Jan 2011 | 9:00 AM ET

Trichet Goes Gansta' on Inflation: 'We Will Do What is Necessary'

Posted By: Ash Bennington

Jobless Numbers Worse Than Expected — Snow Blamed [Reuters via CNBC] "New U.S. claims for unemployment benefits rose more than expected last week as harsh weather conditions in some parts of the country kept workers at home and caused a backlog in the processing of claims, a government report showed on Thursday. Initial claims for state unemployment benefits jumped 51,000 to a seasonally adjusted 454,000, the highest since late October, the Labor Department said. That was the largest weekly increase since September 2005. Economists polled by Reuters had expected claims to be little changed at 405,000."

NY Metro Area Slammed by Another Monster Storm [NY Post] The Big Apple was brought to a virtual halt early this morning by another monster storm — this one not only shutting area airports, but also closing city public schools and non-emergency government offices, as well as forcing the suspension of all buses citywide.

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  Wednesday, 26 Jan 2011 | 5:05 PM ET

Economy Not Improving Enough to End QE2

Posted By: Ash Bennington

Economy Not Improving Enough to End QE2 [CNBC] "The Federal Reserve gave a lukewarm economic assessment on Wednesday despite recent signs the recovery was strengthening, saying high unemployment still justified its $600 billion bond-buying program. In a statement following its policy-setting meeting, the central bank also said measures of underlying inflation were "somewhat low" although it acknowledged rising commodity prices that have fueled global inflation worries."

Treasuries Dip as QE2 Sticks Around [Bloomberg] "Treasuries declined as Federal Reserve policy makers maintained a $600 billion program of debt purchases while saying the economic expansion is continuing at an insufficient pace to reduce unemployment. Government securities dropped earlier after a report showed sales of new homes rose more than forecast in December and the U.S. sold $35 billion of five-year notes. Ten-year Treasury Inflation-Protected Securities show bondholders expect the consumer price index to increase 2.26 percentage points a year on average over the life of the debt, compared with a forecast for an increase of 1.7 percent this year by economists surveyed by Bloomberg News."

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  Wednesday, 26 Jan 2011 | 5:04 PM ET

A Billion Dollars Isn't Cool Anymore

Posted By: Kerima Greene

One of the hottest tickets at Davos was "Connectedness" a talk about how will online and mobile behaviours be reshaped over the coming years.

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  Wednesday, 26 Jan 2011 | 4:23 PM ET

New Hedge-Fund Disclosure Rules Probably Won't Help at All

Posted By: John Carney
Government Regulation
CNBC.com
Government Regulation

The new disclosure rules for hedge funds proposed by the CFTC and SEC this week are much better than I would have expected.

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  Wednesday, 26 Jan 2011 | 3:38 PM ET

Ugly Numbers from DC: CBO Reports Record $1.5 Trillion Deficit

Posted By: Ash Bennington
US Capitol Building with cash
US Capitol Building with cash

New figures out from the Congressional Budget Office indicate that this year's budget deficit will be a colossal $1.5 trillion.

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  Wednesday, 26 Jan 2011 | 3:03 PM ET

Obama Tips Hat to Debt and Deficits: 'Now the Pain Begins'

Posted By: Jeff Cox
President Barack Obama
Getty Images
President Barack Obama

It was a painful wait through Tuesday night’s State of the Union speech to hear any talk about fixing the debt-and-deficit plague, and it’s likely to be a considerably longer wait for anything to get done.

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  Wednesday, 26 Jan 2011 | 2:40 PM ET

Private Equity Owned Insurance Company Cuts Off Cancer Patient for 2 Penny Payment Shortfall

Posted By: John Carney
Stethescope and money
Stethescope and money

A division of the business administration company Ceridian reportedly cut off a cancer patient when his monthly premium payment was two cents short of the amount billed.

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  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.

 

  • Jeff Cox is finance editor for CNBC.com.

  • Lawrence Develingne

    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

  • Stephanie Landsman is one of the producers of CNBC's 5pm ET show "Fast Money."

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