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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 12, 2008
Page
23
The Lundberg Survey shows average U S gallon prices up 9 cents in two weeks to about 3.31 for midgrade as crude futures rose to a record near 108 a barrel. Analysts expect refiners to cut output and margins to tighten, potentially pushing prices higher even with strong inventories.
The Dow climbs about 416 points, the biggest one day gain since 2002, after the Fed to inject 200 billion into financial markets to ease liquidity. S&P 500 and Nasdaq rise as investors cheer a coordinated move with global central banks.
In Columbus a $1.9 billion National Century Financial Enterprises fraud trial concluded after over a month. Prosecutors say three former executives and two former owners conspired to commit wire and securities fraud by authorizing unsecured loans and misleading investors.
European regulators approve Google's 3.1 billion purchase of DoubleClick, enabling a rapid expansion into display advertising. Google says it now controls key software for publishers as rivals warned of higher ad costs and market consolidation.
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