Oil nations may tax firms profits
OPEC said a panel funded to study oil price effects will submit its findings at its next ministerial meeting in Quito Ecuador. Secretary General Abdeyrahman Kherie said the recent surge in cruise oil prices did not yield ample profits for exporting nations and urged tax action on oil company profits.
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Stocks edge up mildly amid light trading in inflation fears
New York stocks posted a faint gain as investors stayed cautious under inflation and high interest-rate worries. The Dow rose 1.33 to 636.75, NYSE volume edged up to 10.94 million, and Consolidated Edison led volume despite a dividend suspension.
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