BP Disaster Shows $9.82-a-Barrel Profit Buying 2018 Oil While Selling Spot

By Alexander Kwiatkowski and Margot Habiby June 7 (Bloomberg) — The oil market is signaling thatprices have nowhere to go but up as the biggest spill in U.S.history curbs drilling and makes it more expensive to developnew fields. Crude’s premium for delivery in eight years compared withtoday’s price rose 86 percent since the BP Plc-leased [...]

Goldman Sachs Documents Subpoenaed by U.S. Financial-Crisis Investigators

By Jesse Westbrook June 7 (Bloomberg) — The U.S. panel investigating thecauses of the financial crisis issued a subpoena to GoldmanSachs Group Inc. after the Wall Street firm failed to hand overdocuments in a “timely manner.” The Financial Crisis Inquiry Commission “has made it clearthat it is committed to using its subpoena power” if firmsunder [...]

European Finance Ministers Endorse Euro’s Level as Decline Boosts Exports

By James G. Neuger and Meera Louis June 7 (Bloomberg) — European finance ministers indicatedthat they are in no rush to halt the euro’s slide against thedollar, calling the currency’s current level a tonic for theeconomic recovery. The 16-nation currency has tumbled 13 percent since mid-April as the Greece-fueled debt crisis exposed cracks in themonetary [...]

Stocks in U.S. Fluctuate as German Factory Orders Offset Goldman Subpoena

By Esme E. Deprez June 7 (Bloomberg) — U.S. stocks retreated, erasing anearly advance, as financial shares slumped after Goldman SachsGroup Inc. was issued a subpoena from the Financial CrisisInquiry Commission. Goldman Sachs fell as much as 1.1 percent after the FCICsaid the subpoena was issued because the investment bank hasn’tcomplied with requests for documents. [...]

Next Page »