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Oil drops below $95 a barrel as dollar rises
The price of oil dropped below $95 a barrel on Friday as a strengthening dollar made crude more expensive for traders using other currencies. By early afternoon in Europe, benchmark crude for June delivery was down $1.74 to $94.65 a barrel in electronic trading on the New York Mercantile Exchange. ...
Senators seek ban on renting recalled vehicles
Rental companies would be barred from leasing or selling vehicles to consumers that are under a manufacturer's recall until the defect is fixed under a bill introduced Thursday by a bipartisan group of senators. Alaska Republican Lisa Murkowski joined Democrats Chuck Schumer of New York, Barbara Boxer of California and ...
Van maker backed by Energy Dept. loans shuts down
A Michigan company that received a $50 million federal loan to make vans for the disabled has stopped production and laid off its 100 workers. Vehicle Production Group, or VPG, suspended operations in February after its finances dipped below a minimum level required as a condition of the federal loan. ...
Tesla Model S gets Consumer Reports' top score
The Tesla Motors Inc. Model S electric car has tied an older Lexus for the highest score ever recorded in Consumer Reports magazine's automotive testing. The Model S, which starts at $62,400 after a federal tax credit, scored 99 points on a scale of 100 in the magazine's battery of ...
China's April auto sales rise 13 percent
China's auto sales rose 13 percent in April despite concern about a weak economic recovery and Japanese brands suffered less severe declines, an industry group reported Thursday. Customers in the world's biggest auto market bought 1.4 million cars, the China Association of Automobile Manufacturers said. It said total auto sales ...
Oil down near $96 per barrel after supplies uptick
The price of oil fell closer to $96 a barrel on Thursday after reports showed supplies of U.S. crude rose last week and inflation accelerated in China. By early afternoon in Europe, benchmark oil for June delivery was down 49 cents to $96.13 a barrel in electronic trading on the ...
SKorea's central bank cuts key rate to 2.5 percent
South Korea's central bank on Thursday cut its benchmark interest rate for the first time in seven months, joining government efforts to boost the export-reliant economy as manufacturers such as Hyundai Motor Co. face tougher competition from Japanese rivals boosted by the weakening yen. The quarter percentage point cut in ...
Oil rises above $96 on US supplies, weaker dollar
Oil climbed to its highest price in more than a month on Wednesday, after the government reported U.S. crude supplies increased less than analysts expected. In New York benchmark crude for June delivery rose $1 to finish at $96.62 a barrel. It hasn't settled that high since April 2. The ...
Ferrari to limit sales to boost brand exclusivity
Ferrari will limit sales of its high-performance street cars this year to protect the brand's aura of exclusivity, Chairman Luca Montezemolo said Wednesday. Wealthy people around the world are snapping up Ferrari's and the company is worried the brand might lose its appeal as a symbol of rarefied luxury. As ...
Oil slips toward $95 as US supplies seen rising
The price of oil slipped closer to $95 a barrel Wednesday as investors weighed a rise in China's trade data against expectations of another increase in U.S. crude supplies. By early afternoon in Europe, benchmark crude for June delivery was down 17 cents to $95.45 a barrel in electronic trading ...
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