Oil prices rose to near $92 a barrel Monday in Asia as traders mulled how high crude can go before it sparks inflation that slows demand and the global economic recovery.
Benchmark oil for February delivery rose 20 cents to $91.58 a barrel late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.54 to settle at $91.38 on Friday.
Full StoryFiat has spun off its industrial vehicle business from its auto making unit in a move aimed at giving birth to a global automotive company with Chrysler LLC.
The historic shift was completed with Fiat Industrial's debut Monday on the Milan Stock Exchange. It opened at €9 ($12.03). Fiat Industrial includes CNH agriculture and construction vehicles and Iveco trucks.
Full StoryTea growers in northeastern India say climate change has hurt the country's tea crop, leading not just to a drop in production but also subtly altering the flavor of their brew.
Tropical Assam state, with its high humidity and lush greenery, is India's main tea growing region, producing nearly 55 percent of the country's enormous tea crop. Overall, India accounts for 31 percent of global tea production.
Full StoryThe long-delayed Broadway musical "Spider-Man: Turn Off the Dark" has suffered another blow with the departure of a lead actress, one of a number of performers injured in the costly production even before its official opening.
Natalie Mendoza, who recently had returned to the stunt-heavy show after suffering a concussion during its first preview performance last month, pulled out for good following several days of negotiations between lawyers for both sides. Producers Thursday evening broke the news to the cast before the 8 p.m. performance.
Full StoryBritish and U.S. scientists say they've compiled the most comprehensive list of land plant species ever published — a 300,000-species strong compendium that they hope will boost conservation, trade and medicine.
The list, drawn up by researchers at Kew Gardens in London and the Missouri Botanical Garden in St. Louis, is intended to help resolve one of botany's most basic problems: Figuring out which plants go by what name.
Full StoryVenezuelan President Hugo Chavez dared the United States to expel his ambassador or cut off diplomatic ties in retaliation for his rejection of Washington's choice for ambassador to Caracas.
Tensions have been growing over Chavez's refusal to accept American diplomat Larry Palmer and also over U.S. criticisms of a legislative offensive by the president's congressional allies. Lawmakers have granted Chavez expanded powers to enact laws by decree for the next year and a half, a change that opponents condemn as antidemocratic.
Full StoryRafa Benitez's spell as Inter Milan coach ended after just six months on Thursday.
The Serie A champions announced that they have reached a "mutually satisfactory agreement" with Benitez to terminate his contract, which ran until the end of next season.
Full StoryBritain's Royal Mint has released a commemorative coin featuring supposedly lifelike portraits of Prince William and his bride-to-be — but critics say Kate Middleton has a right to be horrified.
Images of the couple on the memento bear little resemblance to either the prince or his 28-year-old betrothed. Middleton appears plump in the face and lips and has bags under her eyes. Some critics claim William looks like Al Gore.
Full StorySouth Korean tanks fired artillery and fighter jets zoomed by to drop bombs Thursday in the military's largest air-and-ground firing drills of the year — a show of force a month after a deadly North Korean artillery attack.
The drills, at training grounds in mountainous Pocheon about 20 miles (30 kilometers) from the Koreas' heavily fortified border, signaled South Korea's determination to demonstrate and hone its military strength at the risk of further escalation with North Korea.
Full StoryThe U.S. Treasury Department has expanded punitive sanctions against Iran over its nuclear and missile programs and support for Hizbullah.
The Department added five Iranian companies to its financial blacklist, including two banks, an insurance company, a freight forwarder and the state-owned shipper, the Islamic Republic of Iran Shipping Lines.
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