Treasury raises savings bonds interest to seven percent
The Treasury Department boosted interest rates on many U.S. savings bonds from 6.5 percent to 7 percent, effective January 1, to counter inflation and compete with six month money market certificates offering over 11.7 percent.
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Treasury Department
Energy Dept to charge Mobil and Amerada Hess with overcharges
The Energy Department plans to accuse Mobil Oil Corp and Amerada Hess Corp of petroleum overcharges totaling over 1.1 billion dollars from 1973 to 1976. Mobil faces more than 500 million in new allegations bringing its total to over 1 billion. Amerada Hess about 650 million bringing its total to over 900 million. Spokesmen for Mobil denied wrongdoing. Amerada Hess did not respond. The inquiry also lists 160 allegations totaling 9 billion against 35 top refiners, while Gulf Oil and Chevron USA face 466 million and 40 million respectively, both denying violations.
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Mobil Oil Corp
Amerada Hess Corp
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Amerada Hess
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Gulf Oil Corp
Chevron USA
Standard Oil of California
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