Slim widens lead as Forbes names richest people
Mexican magnate Carlos Slim tops Forbes list with an estimated $74 billion, up $20.5 billion from last year as Telmex alleges monopolistic targeting by rival TV networks and carriers. Gates, Buffett, Arnault follow. Asia tops in new entrants, Moscow leads billionaire cities.
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World oil leaders urge calm as prices near 104 dollars a barrel
Global leaders meeting in Houston stress stability despite oil nearing 104 per barrel and U.S. gasoline averaging 3.52 dollars per gallon. Analysts cite rising global demand and Middle East unrest as price drivers while executives insist ample supply exists to meet about 87 million barrels per day. Rex Tillerson cautions four dollar gas would strain family budgets.
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Global Oil
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Exxon Chief Sees Oil Prices Not Hurting Economy Yet
Exxon Mobil CEO Rex Tillerson said the current oil price rise has not yet damaged U.S. economic activity. He noted 2008 data showed Americans delayed driving and spending only after prices hit about 4 per gallon, while current prices hover near 3.52 nationally with West Coast near 4. Libya’s output slump and Saudi production increases influence prices as analysts warn $150 or more could slow demand and risk recession.
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House panel moves to repeal FCC Internet neutrality rules
The Republican led House Commerce Subcommittee voted 15 to 8 to overturn the FCC net neutrality rules. Democrats on the panel defended the rules while GOP lawmakers argued the action oversteps authority and harms investment in network upgrades. Verizon and MetroPCS seek court relief challenging the rules.
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