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CALIFORNIA | LOCAL
April 15, 2013 | By Patrick McGreevy
Think you are being ripped off at the gas pump? One California lawmaker wants to give the public a place to contact with complaints of price manipulation or other shenanigans. Sen. Mark Leno (D-San Francisco) has proposed creation of an Office of Fuel Price Investigation and Manipulation Prevention at the California Energy Commission. Leno said the new office would develop anti-fuel price manipulation standards, investigate potential incidents of illegal activity and recommend ways to reduce the volatility of gas prices in California, which last year saw some stations charge $5 per gallon.
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BUSINESS
December 27, 1987 | CHARLES WOLF JR., CHARLES WOLF JR. directs RAND Corp.'s research in international economic policy and is dean of the RAND Graduate School
At a time when computerized program trading is a favored bete noire in explaining the market's Oct. 19 debacle, it may come as a surprise to suggest that another form of computerized trading may be a partial remedy for excessive market volatility. Nonetheless, the securities industry could benefit from an innovation in communications technology that already is used widely in banking--the automated teller machine, or ATM.
BUSINESS
December 29, 2011 | By Nathaniel Popper and Tiffany Hsu, Los Angeles Times
The Standard & Poor's 500 index is once again in the red for 2011. A rough day on the markets Wednesday yanked the benchmark index back into negative territory with just two trading days left for the year. The index ended Wednesday down 1.3%, or 15.79 points, at 1,249.64. That is 0.6% below where it began 2011. The Dow Jones industrial average ended the day down 1.1%, or 139.94 points, at 12,151.41. It is still up 5% for the year. Investors were rattled by reports that European banks had borrowed large sums from the European Central Bank without lending most of it out, highlighting risks still present in the continent's economy.
BUSINESS
April 23, 2008 | From Times Wire Services
Federal regulators said Tuesday that placing tougher restrictions on agricultural commodity trading would not alleviate high and volatile prices in those markets and could make matters worse. Farmers, ranchers and grain processors met with regulators in Washington to discuss the causes behind turbulent markets and historically high prices for wheat, corn and other foodstuffs. Farmers and food producers contend that speculation by Wall Street investors -- not a supply-demand imbalance -- is what's driving up prices and volatility, making it harder for commercial buyers and sellers of grain to use the exchanges as a tool for limiting the risks of price uncertainty.
BUSINESS
April 26, 2008 | From the Associated Press
House Democratic leaders urged federal regulators Friday to investigate whether market manipulation has contributed to record-high gasoline prices. House Speaker Nancy Pelosi (D-San Francisco) and six other members of the House leadership urged the Federal Trade Commission to use new authority to investigate the oil and gas markets for price manipulation and other fraud. "Recent price volatility and investor speculation in the oil market require the diligent oversight Congress called for, especially when oil prices break records daily, hitting $119 per barrel this week," the letter said.
BUSINESS
April 19, 1998
I am not a professional economist, but I have a theory about our unprecedented and, apparently, permanent bull market. It seems to me that the traditional criteria by which stock prices are determined --earnings, quality of management, etc.--have been superseded by simple supply and demand. Twice each month, millions of baby boomers, having sated their appetites for homes, cars and espresso machines and facing for the first time the reality of eventual retirement, are stashing the maximum allowable into tax-deferred mutual funds.
BUSINESS
May 15, 2011 | Andrew Leckey
Question: What should I expect from my shares of International Paper Co.? Answer: As the economy recovers, more corrugated cardboard boxes are needed to ship products of all kinds. The world's largest paper and packaging company, International Paper, is benefiting not just from a rising volume of boxes sold, but also from an increase in the prices it can charge for them. The outlook for box demand is especially promising in fast-growing emerging markets. In March, the company said it would acquire up to 75% of Indian paper manufacturer Andhra Pradesh Paper Mills Ltd. Last year it bought SCA Packaging Asia, which operates primarily in China but also in Brazil and Russia.
BUSINESS
May 7, 2013 | By Walter Hamilton
The Dow Jones industrial average jumped above 15,000 on Tuesday morning, extending a surge in the stock market that has carried the famous index up almost 2,000 points this year. The gain in U.S. stocks followed a vibrant overnight rally in Japanese shares and positive economic news in Germany that sent that country's leading stock index to a new record high despite Europe's ongoing debt crisis. The enthusiasm carried over to the U.S., where the Dow jumped above 15,000, an intra-day mark that it first hit last week.
BUSINESS
July 21, 2010 | By Alistair Barr
Morgan Stanley outshone rival Goldman Sachs Group Inc. in trading during the second quarter, upending the usual pecking order on Wall Street. Morgan Stanley shares surged after the bank said it swung to a second-quarter profit with rising revenue across its business, bucking an industry trend. The financial services company said earnings for the quarter came in at $1.58 billion, or $1.09 a share, compared with a loss of $1.26 billion, or $1.10, a year earlier. On an adjusted basis, Morgan Stanley said profit in the latest quarter was $1.44 billion, or 80 cents.
OPINION
December 31, 1989 | Leonard I. Beerman, Leonard I. Beerman, the founding rabbi of Leo Baeck Temple, served on the Los Angeles Blue Ribbon Committee for Affordable Housing
In the opening chapter of the book of Genesis, God says of his newly created world that it is "very good." "Not for me," disputed Rabbi Menachem Mendel of Kotzk. "For me, such as it is, is no good--except for blowing your nose in it." Far too many people today agree with the rabbi's acid words of 150 years ago. During the 1980s, too many denied even the old tangle of sorrow and joy.
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