Oil tumbles toward $100 as markets slip
Oil prices moved lower with October futures dipping to 105.46 in early trading before settling at 109.71 on the New York Mercantile Exchange. Analysts note the drop from July’s high near 147 and the potential for further declines as demand remains weak. The national gasoline average rose to 3.68 a gallon, up 90 cents from early 2009.
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Insurers estimate Gustav claims reach billions in Texas
Insurers estimate Gustav damage could push residential and commercial claims from $4 billion to $10 billion in Texas. Officials warn the impact may be worse than feared and business returns to normal will take days or weeks, with payouts potentially topping $1 billion to $3 billion.
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Beaumont
Texas
Google unveils Chrome browser to expand lead and rival Microsoft
Google released Chrome to speed up Internet use and push its search dominance. The browser aims to be faster safer and cheaper than Internet Explorer and could shift how software like word processors are distributed. If successful it may blunt Microsoft Office sales.
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Calif
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Chiquita expands image to consumer products line
Chiquita Brands International launches Fresh Funds, a rewards program with online auctions for customers. Points appear on Fresh Express salads and Chiquita snacks, usable to bid weekly items like a Nintendo Wii or donated to charity. The plan aims to boost consumer focus and healthy eating.
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Cincinnati
Chiquita Brands International Inc
Fresh Funds
Fresh Express
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Bryan Brown
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Fernando Aguirre
Tata Motors halts Nano plant work amid farmer protests in India
Tata Motors suspends operations indefinitely at the Singur Nano factory in West Bengal following violent farmer protests over land compensation. Workers and international staff have been kept from site as Tata evaluates relocating Nano production to other plants and aims to launch by year end.
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Mumbai
India
Tata Motors
West Bengal
Ratan Tata
Tata
Singur
Nirupam Sen
Suresh Rangarajan
Convergys eyes split into two separate units
Cincinnati outsourcing firm Convergys Corp. contemplates dividing its information management unit into a separate publicly traded company. The board, with Centerview Partners advising, aims to decide in Q4 2008 as it weighs stronger focus and growth for each business. Shares rose to 15.72 dollars.
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Cincinnati
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