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“U.S. gasoline stocks have certainly dropped quite sharply over the last month”

Oil prices held close to a record above $124 a barrel Friday in Asia as bullish momentum and renewed weakening of the U.S. dollar against foreign currencies kept the commodity on its upward trend.

Analysts, though, struggled to explain the continued rise of oil futures after a larger-than-expected build in crude oil stocks reported Wednesday in the United States. Some pointed to a small decline in distallate stocks, which include diesel and heating oil and normally drive prices during the Northern Hemisphere winter; others said speculation and computer-generated buying was keeping oil prices high. Read more

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Pandit may put $400 Billion in Citigroup assets for sale. via ClipSyndicate

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“The market was feeling the impact of Toyota's reports today, and investors were turning cautious, taking a wait-and-see stance ahead of more corporate results next week”

Japanese shares dropped Friday as selling spread across the board following Toyota's bleak earnings projection.

The benchmark Nikkei 225 index sank 287.92 points, or 2.06 percent, to 13,655.34.

'Investors were spooked by Toyota's sluggish earnings reports and its weak profit outlook,' said Tsuyoshi Segawa, an equity strategist at Shinko Securities Co. in Tokyo.

Just as markets closed Thursday, Toyota said its net profit in the fiscal fourth quarter dropped 28 percent due to a strong yen and sluggish U.S. sales. It also projected this fiscal year's profit will tumble 27 percent _ which would be its first decline in annual earnings in seven years. Read more

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“With a backdrop of a slowing economy, I continue to look for a tipping point where domestic air travelers begin to significantly push back on record high airline ticket prices. At best the jury is still out”

The three biggest U.S. carriers said Thursday they have again raised ticket prices, this time by $20 roundtrip, to recoup rapidly rising fuel costs.

The increases by American Airlines, United Airlines and Delta Air Lines affect the carriers' fuel surcharges, which now total $130 roundtrip on many flights. That means passengers on some cheap flights could be paying more in fees and taxes than for the airfare itself.

Delta Air Lines Inc. initiated the increase, which applies to most domestic routes. It is the Atlanta-based carrier's second hike in just over a week. The previous increase was quickly matched by competitors. Read more

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“It is also clear that we have a significant opportunity for incremental growth in our retail business which we can best realize with Best Buy on board.”

Best Buy Co. Inc., the biggest U.S. electronics retailer, is paying $2.1 billion for a 50 percent stake in Europe's largest cell phone retailer, the companies announced Thursday.

The Carphone Warehouse will add its 2,400 U.S. and European stores into the new joint venture.

The deal also includes the web and direct businesses of The Carphone Warehouse, the insurance operations, and its airtime reselling businesses. The Carphone Warehouse's current European retail management team initially will remain in place, the companies said. Read more

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“The DTV transition deserves no less.”

Any glitches in the nationwide switch to digital television will be felt first in Wilmington, N.C. The Federal Communications Commission on Thursday formally announced that the North Carolina TV market on would ... via HendersonvilleNews.com

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Consumer borrowing rose in March at the fastest pace in four months, more than double the increase of the previous month, in what was seen as a sign of rising economic stress.

The Federal Reserve reported Wednesday that consumers increased their borrowing at an annual rate of 7.2 percent, compared with a 3.1 percent rate of increase in February.

The gain was much larger than economists had been expecting and reflected strong borrowing on credit cards and also in the category that includes auto loans. The increase in consumer debt totaled $15.3 billion at an annual rate in March, much bigger than the $6 billion increase that economists had been expecting. Read more

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Mother Earth Investments' Roland Jensen talks about the impact of higher prices on rice, cereals and other commodities. via ClipSyndicate

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“While the U.S. economy has succumbed to stagnation and the U.K. economy is decelerating sharply, the euro zone has so far held up fairly well”

The European Central Bank and the Bank of England are both expected to keep their interest rates unchanged Thursday, as more evidence mounts that growth in the euro zone and in Britain is likely to slow in coming months.

For the ECB, which meets in Athens _ part of its twice-a-year road show to other euro zone capitals _ the change in scenery is not going to mean a change in policy for its benchmark refinancing rate, which has stood at 4 percent since last summer.

Higher rates, used to combat inflation, also can strengthen a currency and are considered to be supporting the euro. Read more

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“Things are beginning to improve, but the availability of affordable mortgages is uneven around the country and sometimes within metropolitan areas”

Pending U.S. home sales dropped to a new low in March, signalling the housing slump has yet to bottom out even as the spring sell season gets underway, an industry group said Wednesday. via CBC News

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