Shell Oil to pay 49 million settle Gulf gas suit
Shell Oil will pay 49 million dollars to the federal government to settle a lawsuit over unauthorized releasing and burning of natural gas from seven Gulf of Mexico deepwater platforms between 198? and 1993. No criminal charges will be filed. The largest well was the Auger facility about 150 miles off Louisiana.
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Shell Oil
Gulf of Mexico
U.S
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Shell
Mary
Louisiana
Justice Department
Boeing’s clout grows in Washington despite job cuts
Boeing has cut about 35,000 workers in two years and plans 5,000 more, yet Washington state officials tout the company’s political leverage. Lawmakers secured a $3.2 billion tax package to woo Boeing and preserve jobs as the Air Force explores a $17 billion tanker contract, with critics linking layoffs to the recession and the state’s bid incentives. Cantwell urged continued opportunities for Boeing workers in the assembly line.
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Weirton Steel plans 4 million in executive bonuses
Weirton Steel seeks court approval to pay up to 4 million in bonuses to top executives staying through its Chapter 11 process. CEO D Leonard Wise and President Mark Kaplan would receive multi hundred thousand sums with potential additions tied to company outcomes. Nine other managers would share 666 thousand in bonuses.
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Stocks slide as rates climb and terror attack shocks market
The Dow fell 149.72 points to 9036.32 and the Nasdaq dropped 40.56 to 1673.50 as investors priced in rising interest rates and terrorist violence. Analysts cited fears over consumer and business spending, with Gillette and Costco issuing weak outlooks and a Jakarta hotel bombing adding to market gloom.
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Dollar Edges Back as Mixed Data Dims Market Mood
The dollar fell against major rivals after a mixed US data batch and global events. Investors noted a stronger ISM nonmanufacturing index at 65.1, while forecasts were unmet by some metrics, sending stocks lower and bonds higher. Costco tumbled 6.90 to 30.06 after trimming full year guidance, dragging BJ’s Wholesale Club down 1.95 to 17.24.
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Dow Jones/ AP
Institute For Supply Management
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