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Oil prices move higher following bullish inventory report, Iranian missile test

Posted Dec 16th 2009 4:45PM by Michael Fowlkes (RSS feed)
Filed under: Major Movement, International Markets, Middle East, Oil, Eastern Europe

Oil prices have been on the rise today, following a government report that showed inventories fell more than expected last week.

Going into today's inventory report, analysts had been expecting to hear that oil inventories shrank by around 2 million barrels last week, but according the the Department of Energy the actual draw was much steeper at 3.7 million barrels.

Continue reading Oil prices move higher following bullish inventory report, Iranian missile test

Russian casinos go bust -- gamblers head elsewhere

Posted Jul 6th 2009 3:00PM by Beth Gaston Moon (RSS feed)
Filed under: Russia, Employees, Recession

Thanks a lot, Vladimir Putin. The former Russian president (now prime minister) signed an anti-vice law in 2006 that has led to the closure of most casinos in the struggling nation. This move quickly killed more than 400,000 jobs as of July 1 in a country already in the throes of an economic crisis. More than 40,000 casino workers were impacted in Moscow alone, which was home to 30 major casinos and 500 smaller operations.