Energy giant BP announced a return to profit on Tuesday but revealed new shock estimates for the cost of its Gulf of Mexico oil spill, putting the expected bill at close to $40 billion.
The new figure is far higher than expected. BP said it had taken an additional charge of $7.7 billion during the third quarter, bringing the company’s own total estimated clean-up and legal costs to $39.9 billion. (more…)
*More Than One Out of Three Financial Advice Seekers Visited Moneysupermarket.com*
London, UK, 02 November, 2010 – comScore, Inc., a leader in measuring the digital world, today released a 
ranking of top Financial Information/Advice Sites in the UK based on September 2010 data from its comScore Media Metrix service. Nearly 10 million internet users turned to the web for financial advice, spending an average of 15 minutes on sites in the category during the month.
Data from the comScore Ad Metrix service revealed that Adaptive Affinity ranked as the top online display advertiser amongst financial companies, reaching nearly 58 percent of the total UK online audience in September 2010, by promoting its site Quickcreditscore.co.uk. (more…)
The U.S. Geological Survey estimates 896 million barrels of conventional, undiscovered oil and 53 trillion cubic feet of conventional, undiscovered non-associated gas within NPRA and adjacent state waters. The estimated volume of undiscovered oil is significantly lower than in 2002, when the USGS estimated there was 10.6 billion barrels of oil. The new estimate, roughly 10% of the 2002 estimate, is due primarily to the incorporation of new data from recent exploration drilling revealing gas occurrence rather than oil in much of NPRA. (more…)
ANN ARBOR, Mich. — Subprime mortgages were not the main reason behind the housing crisis that started in 2009 and continues to bedevil the faltering U.S. economy, according to a University of Michigan study. (more…)
Poverty has grown in America’s suburbs during the recent economic downturn, but poor people in many suburban communities are finding it hard to get the help they need, a report by University of Chicago researchers shows. (more…)
Gold added nearly five percent to its cost on world markets in September setting absolute records almost every day during the month. Even if gold dropped a little on the last day of September due to the growth of the US dollar against world currencies, analysts are certain that the precious metal will continue to set more new records in the future. (more…)
COLUMBIA, Mo. – As the U.S. economy continues to lag, many investors remain wary about taking risks with the stock market. Now, researchers at MU have concluded that this attitude toward investment risk-taking is more than just a recent trend.
