One of the most senior private bankers at UBS, the worlds leading wealth manager, has been detained by authorities in the US investigating whether the Swiss bank helped its American clients evade tax.
Posts on ‘May 7th, 2008’
Gas Prices Expected to Peak in June
Nigerian production dropped by 160,000 barrels, to an average of 1.88 million barrels a day, the countrys lowest level since August 1999. The countrys output suffered from a strike by Exxon Mobil workers. Adding to these troubles, rebel militants have apparently resumed their attacks on oil companies in the Niger Delta, forcing Royal Dutch Shell to reduce production.
Oil price jumps to record over $120 a barrel
A weekend attack by militants on a Royal Dutch Shell plant in the Niger Delta and fighting in northern Iraq combined to intensify supply worries in oil markets.
BAE Systems admits to ethical failings as investigations into corruption continue
BAE Systems, the arms giant accused of making corrupt payments worldwide to win lucrative contracts, has admitted it acted unethically in the past.
Oil could hit $200 in ‘super-spike’
Oil prices threaten to hit $200 a barrel in a final “super-spike” over coming months as producers fail to keep pace with blistering demand from China and the Middle East, according to a controversial report by Goldman Sachs.
Iran supply problems add to fears of oil hitting $200 a barrel
To maintain its present capacity of about four million barrels of crude oil per day representing about 5 per cent of daily global output Iran is pinning its hopes on the development of huge new fields and is in talks with big Western oil companies, including Shell and Total. However, those companies are under mounting political pressure from the United States to withdraw from those negotiations.
Nigeria oil rebels offer to halt attacks if Jimmy Carter is allowed to help talks
…a Royal Dutch Shell base was bombed in the state of Bayelsa at the weekend. Attacks by the Movement for the Emancipation of the Niger Delta have raised the price of oil to a record $122 (£62) a barrel.
Woolf report into BAE throws a cloak of goodwill over an immoral trade
Lets be honest: privately, we would rather that BP or Shell got the oil deal than did some less friendly Russian or Chinese company. If the price for petrol is an under-the-table payment to a dictator, so be it.
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