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Gasoline, Oil Prices Continue To Drop

May 18, 2012 by · Leave a Comment

Pump prices continue to fall in the Knoxville area.

The average price of a gallon of regular unleaded dropped nearly a penny overnight to $3.455 on Wednesday, according to the AAA Daily Fuel Gauge Report.

Prices have plunged in recent weeks. This time a month ago the average in metropolitan Knoxville was $3.76, the auto club reported.

Memphis has the lowest average among Tennessee’s largest cities at $3.412, followed by Chattanooga at $3.416. Nashville has the highest average in the state at $3.486. [Read more...]

Filed Under: Energy, Industry ·

Economic Warnings Put A Dent In Australian Dollar

March 28, 2012 by ·

The Australian dollar rose slightly yesterday, but was hurt by economic warnings Source: PerthNow

A FRESH warning about the health of the economy from the head of a global company weighed on the Australian dollar in Asia, although the currency still finished local trading higher yesterday.

Dow Chemical’s chief executive said he saw signs of a coming downturn in the Australian economy, arguing that jobs growth and overall competitiveness were in decline.

“We are seeing troubling signs for our economy at large — maybe even signs of a coming downturn,” Andrew Liveris said. [Read more...]

Filed Under: Economy, Industry, Stock Market ·

Yen Firms On Surprise Japan Trade Surplus

March 23, 2012 by ·

The yen strengthened against the dollar in Asian trade on Thursday after Japan posted an unexpected trade surplus in February, offering some hope for its plodding economy.

The dollar eased to 83.30 yen in Tokyo, down from 83.87 yen in New York late Wednesday.

The euro was changing hands at $1.3238 and 110.27 yen, compared with $1.3211 and 110.22 yen on Wednesday.

Japan logged a trade surplus of 32.9 billion yen in February, after posting a record trade deficit in the previous month, according to data released just before trading started. [Read more...]

Filed Under: Business, Economy, Industry, Stock Market ·

China Worries Weigh On Shares

March 12, 2012 by ·

Australian shares fell today as investors factored in a short-term hit on the local economy from a China slowdown and as expectations for a further US monetary easing were scaled back after strong jobs data.

The S&P/ASX200 ended the day off 15.3 points, or 0.4 per cent, at 4196.7, while the All Ords lost 12.3 points, or 0.3 per cent, to 4288.2.

Among the main sub-indexes, telcos fell 0.9 per cent (with Telstra down by 3 cents), while financials gave up 0. per cent and energy stocks off 0.55 per cent. Materials were basically flat.

Investors sat on their hands ahead of a raft of US economic data later in the week, while figures showing a  big widening of China’s trade deficit weighed on the local bourse. [Read more...]

Filed Under: Industry, Stock Market ·

Iran Warns 6 Countries in Europe It Will Cut Off Oil

February 16, 2012 by ·

Iran’s official Islamic Republic News Agency said the threat was conveyed to the ambassadors of Italy, Spain, France, the Netherlands, Greece and Portugal in separate meetings at the Foreign Ministry in Tehran. Officials said in an earlier report by Press TV, Iran’s state-financed satellite broadcaster, that Iran had already cut supplies to the six countries was inaccurate — but not before word of the Press TV report sent a brief shudder through the global oil market, sending prices up slightly.

“Iran warns Europe it will find other customers for its oil,” the Islamic Republic News Agency said. “European people should know that if Iran changes destinations of the oil it gives to them, the responsibility will rest with the European governments themselves.” [Read more...]

Filed Under: Foreign Policy, Government, Industry ·

Iran’s Ahmadinejad Will Announce ‘Key Nuclear Achievements’

February 15, 2012 by ·

Iranian State TV reported yesterday that President Mahmoud Ahmadinejad will make an announcement about “key nuclear achievements,” today.

Quoting the official news agency, The New York Times reports that Ahmadinejad will likely “proclaim that a new uranium enrichment plant built inside a mountain near the holy city of Qum was ‘fully operational.’” [Read more...]

Filed Under: Industry, Nuclear Facility ·

Consumer Reports: Seven Mistakes Of Retirement Planning

February 11, 2012 by ·

When it comes to retirement planning, never before have so many things been so much in flux: the job market, the stock market, the entire world economy. At this point it’s anybody’s guess how Social Security and Medicare might change. Ditto for the U.S. tax code, which plays a role in countless retirement-related decisions. Why bother to plan at all?

The answer, according to Consumer Reports Money Adviser, is that this is one of those situations in life where there are things we can control and others we can’t. And we might as well not mess up the former.

In that spirit, here are seven common mistakes most of us can avoid if we choose to: [Read more...]

Filed Under: Industry, Lifestyle, Places ·