Trade Crude Oil

Kris Alingod – AHN News Contributor
Washington, DC, United States (AHN) – Rep. Barney Frank (D-MA), the first openly gay member of Congress, is engaged to his long-time partner. The wedding will be the first same-sex marriage for a U.S. congressman. New England Cable News reported late Thursday night that the lawmaker plans to marry Jim Ready, a 42-year-old small business owner from Maine. The 71-year-old Frank has not issued a statement but a spokesman, Hank Gural, told the Boston Globe the marriage will be held in Massachusetts, the first state to legalize gay marriage. Same-sex marriage is legal only in six states and the District of Columbia. Frank, former chair of the House Financial Services Committee and one of the most vocal liberals in Congress, has been partners with Ready since 2007. He announced his decision not to seek re-election in November. He [...] Continue Reading…

Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – Wall Street opened lower Friday after a report showed that the U.S. economy expanded less than forecast.. Just after the opening bell, the Dow Jones Industrial Average was lower by 33 points, the Standard and Poor’s 500 Index was flat and the NASDAQ was up by about 6 points. Weighing on stocks was a report that showed the U.S. economy expanded at 2.8 percent in the fourth quarter, less than the 3 percent that had been projected. In Europe the Stoxx Europe 600 Index slipped 0.7 percent as investors await word on developments on the region’s sovereign debt crisis. European Union Economic and Monetary Affairs Commissioner Olli Rehn said authorities are “very close” to reaching an agreement on private-sector involvement in a Greek debt swap. Despite those words of optimism, the dismal growth [...] Continue Reading…

The Media Line Staff
Damascus, Syria David Rosenberg (The Medi – As the Arab League agreed to go to the United Nations Security Council early this week with a resolution calling for Syrian President Bashar Al-Assad to step down, Russia was reportedly doing a major arms deal with the beleaguered regime. The $550 million agreement to sell 36 Yak-130 combat aircraft will not do anything to tip the balance in favor of the Al-Assad regime, which has been engaged in a 10-month conflict with anti-government opposition. But Russia is almost certainly providing arms Damascus needs to hold back the rebels as well as mounting a diplomatic defense of its friend at the U.N. In a rare glimpse into the Russia-Syria arms trade, a ship loaded with ammunition from Russia was briefly detained in Cyprus earlier this month before continuing its journey unmolested to the Syrian port of Tartus. [...] Continue Reading…

Diane Alter – AHN News Reporter
NYC, NY, United States (AHN) – After a choppy morning, stocks gained some ground Wednesday afternoon following comments from the Federal Reserve that it would leave rates unchanged and does not plan any changes until late 2014. Since August, the Fed has maintained in policy statements that it planned to keep its benchmark rate at a record low until at least mid 2013, as long as the economy remained weak. It is now certain that rates will remain at historic lows even longer. The Dow and the S&P spent much of the morning in negative territory. But just before 2 p.m., the Dow Jones Industrial was up 54 points, and the Standard & Poor’s 500 Index gained 8 points. The tech heavy NASDAQ, boosted by blockbuster, record breaking numbers from Apple Inc., was better by 29 points. To the disappoint of [...] Continue Reading…

Linda Young – AHN News Writer
London, United Kingdom (AHN) – Economic activity in the United Kingdom shrank by 0.2 percent during the last quarter of 2011, according to the first estimate from the Office for National Statistics (ONS). That contraction was even worse than expected as economists had only predicted a 0.1 percent drop in economic activity. The ONS preliminary estimate is a steep drop in economic activity from the third quarter of 2011, when gross domestic product (GDP) expanded by 0.6 percent. However, the ONS figures also show that the economy grew by 0.9 percent for the whole of 2011, which is in line with official targets. However, that is much less than the 2.1 percent growth for 2010. Ed Balls MP, Labor’s shadow chancellor, blamed the government’s cuts in public spending for the drop in GDP, saying the government cuts were curbing domestic [...] Continue Reading…

Port Moresby, Papua New Guinea (IRIN) – Rescue efforts are continuing in Papua New Guinea’s (PNG) gas-rich Hela Province, a day after what officials have described as one of the Pacific nation’s worst landslides ever. “At this point, relief efforts are ongoing,” Martin Mose, head of PNG’s National Disaster Centre (NDC), told IRIN in Port Moresby on 25 January, describing the situation on the ground as “fluid”. Characterized by high terrain and precipitous slopes, the remote region in the Southern Highlands of Papua New Guinea is home to a controversial multi-billion dollar liquefied natural gas (LNG) project . However, no direct link has been established between the landslide and the operational activities of the ExxonMobil project. Dozens of people are feared dead, with local rescuers estimating many are still buried under the debris, after the landslide in Komo Maggarima District struck [...] Continue Reading…

St. Paul, MN, United States (KaiserHealth) – Commercial health insurers are scrambling for position as a key part of the federal health law threatens to upend their marketplace in two years. Health plans are trying to lock in business before government-sponsored health insurance exchanges go online in 2014. Several large insurers are launching private insurance exchanges to protect themselves against competition from the public exchanges. Not since the advent of Medicare and Medicaid in the 1960s has there been such big changes looming on the horizon for health insurers. In less than two years, the federal health care law will usher in more restrictions on premium increases, tens of millions of new customers, and a way for consumers to comparison shop online for their health insurance. An estimated 1 million Minnesotans will eventually get their health insurance through an exchange. Sabrina Corlette, research professor at [...] Continue Reading…

Windsor Genova – AHN News News Writer
Brussels, Belgium (AHN) – The European Union announced on Monday it will ban new imports of crude oil and petrochemical products from Iran in a bid to cut the country’s source of funding for its nuclear program. Existing contracts on the importation of oil and petrochemicals from Iran will still be honored but only until July 1, according to a statement of the Council of the EU. This will allow Greece, Italy and Spain more time to find alternative sources of crude oil. The EU also banned the export of key equipment and technology for Iran’s oil industry and investment in petrochemical companies in Iran. Furthermore, it froze the assets of the Iranian central bank within the EU and those of three Iranian figures, whom it did not identify, as well as trade in gold, precious metals and diamonds with [...] Continue Reading…

Kris Alingod – AHN News Contributor
Houston, TX, United States (AHN) – The trial of former Houston billionaire Allen Stanford was set to begin on Monday with jury selection. Defense attorneys for the 61-year-old, now indigent after his assets were seized, were scheduled to choose from 80 potential jurors. Last week, the attorneys failed to convince District Judge David Hittner to delay the trial and give them more time to prepare. Stanford’s lawyers also continued to say their client remains mentally incompetent for trial but Hittner has rejected the argument. Stanford sustained a head injury in 2009 after being attacked by a fellow prison inmate. A year ago, he was declared unfit for trial and in need of treatment for addiction to anti-anxiety drugs he was given following the prison attack. He was cleared for trial in December. Defense lawyers plan to let Stanford take the [...] Continue Reading…

Diane Alter – AHN News Reporter
Giglio, Italy (AHN) – A 12th body was found Saturday afternoon as divers resumed their search in the Italian cruise disaster off the tiny island of Giglio. The latest discovery was of a woman wearing a life jacket in an area of the ship that was under water. The search of the Costa Concordia’s 1,500 cabins is difficult and daunting Hope has dimmed for finding alive any of the at least 20 still missing, and concerns are mounting over the potential environmental threat posed by the wreck. No fuel has yet leaked from the Costa Concordia since it ran aground Jan. 13. Officials said they cannot predict how long it will take to clear the wreckage, since timing depends a great deal on maritime conditions and environmental risks. A plan to remove the fuel has been approved and will [...] Continue Reading…