Oil prices near $146 Oil prices neared $146 a barrel Thursday for the first time ever on reports of declining U.S. stockpiles and the threat of conflict with Iran. Comments by Saudi Arabia's oil minister suggesting his country had no immediate plans to boost production also lifted prices.
French judge orders Continental to trial PARIS (AP) _ A French judge has ordered Continental Airlines and five people to stand trial for manslaughter in connection with the 2000 crash of a Concorde jet that killed 113 people. The prosecutor in the Paris suburb of Pontoise says two of the people to be tried are employees of the U.S. carrier.
ECB expected to raise interest rates FRANKFURT, Germany (AP) _ Analysts widely expect the European Central Bank to raise its main interest rate Thursday for the first time in a year in an effort to rein in escalating inflation, but whether such a move will help or hurt is still in question. ECB President Jean-Claude Trichet said at the bank's last monthly meeting June 5 that the bank is in a state of "heightened alertness" on inflation and could raise the main rate "by a small amount." He said at that meeting that members of the ECB's governing council had already made a case for raising rates even then.
US stocks head for mixed open ahead of jobs data NEW YORK (AP) _ Stocks headed for a mixed open Thursday ahead of the government's report on June employment that could offer insights into how well the economy is likely to fare in the coming months. The price of oil neared $146 for the first time, adding pressure to the stock market. An interest rate decision from the European Central Bank will also cap a holiday-shortened week for Wall Street.
Bush's final G-8 summit may be harmonious WASHINGTON (AP) _ The issues are as difficult as ever, but the conditions are likely to be more conducive to agreement as President Bush attends his eighth and final economic summit of industrial democracies. The annual Group of Eight meeting, which begins Monday on the northern Japanese island of Hokkaido, comes amid economic turmoil in most of the member nations, as well as political uncertainty for many of the leaders. Oil prices are hitting new record highs and worries about inflation are mounting. Like the United States, most of the nation's major trading partners are experiencing slow growth and market declines.
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