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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Mar 23, 2005
Page
7
The Federal Reserve boosted the federal funds rate to 2.75 percent, the seventh successive quarter point hike since last June. The move aims to prevent inflation as the economy rebounds, with the central bank signaling future increases at a measured pace.
AFP accuses Google News of infringing copyrights by compiling photos and story excerpts from AFP subscribers sites. The case tests limits of fair use in a Web era where blogs and online publishers surge, with AFP seeking at least 17.5 million dollars in damages. The Washington DC court will weigh search convenience against rights of content owners.
Traders drove oil prices down sharply on Tuesday amid profit taking ahead of the U S government's next petroleum supply report. A key OPEC member indicated a possible half a million barrel per day increase, following a similar move last week. May crude settled at 56.03 dollars a barrel on the Nymex.
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