The benefits of $140 oil

By Bernd Debusmann By Bernd Debusmann WASHINGTON, July 16 (Reuters) – If necessity really is the mother of invention, oil at $140 a barrel and gasoline at $4 a gallon will force

Oil plunges after rise in US crude stocks

Oil fell sharply on Wednesday after U.S. government data showed a rise in crude oil and gasoline stocks last week. Prices had already dropped steeply in the previous session on expectations that

EU wants to up duties on tobacco

The European Commission presented a Report and a proposal for a Directive to amend the current EU excise duty legislation on tobacco. The draft Directive foresees a gradual increase in the EU

EU framework for investment funds proposed

The European Commission has proposed an important revision of the EU framework for investment funds, which provides consumers with access to professionally managed investments on affordable terms. These funds, known as 'UCITS'

Villagers flee fires raging outside Athens

By George Hatzidakis and Tatiana Fragou ATHENS, July 16 (Reuters) – Greek villagers fled their homes as hundreds of firefighters battled forest blazes that raged near the Greek capital Athens on Wednesday,

Futures slip before CPI; bank worry lingers

Stock futures slipped on Wednesday due to caution ahead of a key inflation report and mounting concerns about the health of the financial sector. The government is scheduled to release June's Consumer