NEW YORK—US stocks dropped on heavy volume Wednesday as worries about Libya depressed global markets and drove up crude prices to two-year highs. Airline shares were hammered for a second day over the prospect of higher fuel costs, while oil companies gained for the same reason. The Dow Jones Industrial Average lost 107.01 points, (0.88 [...]
NEW YORK—Curtailed oil supplies from Libya and the prospect of popular revolts spreading in the energy-rich Middle East sent global oil prices rocketing to multi-year highs on Wednesday. For a second straight day, oil prices in New York and London hit highs not seen since 2008, as traders panicked about events in the Middle East [...]
WASHINGTON—US stocks plummeted Tuesday as warnings by Libya’s embattled leader Moamer Kadhafi threatened to plunge one of the world’s key oil states further into chaos. The Dow Jones Industrial Average closed down 1.44 percent (178.46 points) at 12,212.79, while the broader S&P 500 plunged 2.05 percent (27.57 points) at 1,315.44. The tech-heavy Nasdaq Composite sank [...]
MANILA, Philippines – The Philippine Amusement and Gaming Corporation (Pagcor) posted close to P3 billion in gross revenues last month and some P182 million savings for the same period, its official revealed on Tuesday. Pagcor Assistant Vice President for Corporate Communications Maricar Bautista said the agency posted P2.759 billion revenues in January 2011, higher by [...]
MANILA, Philippines—Ayala Corp. is planning to beef up its authorized capital stock to P56.2 billion from P37 billion, giving the diversified conglomerate more room to raise funds for expansion. Ayala disclosed on Tuesday that its board of directors had approved the increase in the number of common shares to 900 million from 596 million with [...]
HONG KONG – Oil surged to a more than two-year high and Asian stocks slumped on Tuesday as the political crisis in Libya worsened amid reports of escalating violence against pro-democracy demonstrators. The Nikkei also took a beating after ratings agency Moody’s said it had lowered its outlook on Japan’s sovereign debt due to concerns [...]
