business

The Other Oil Spill: Michigan Gets a Taste

Jeff Neumann · 07/29/10 05:03AM

The estimates on the oil spill in southern Michigan's Kalamazoo River are getting worse, with the EPA last night saying there could be one million gallons of oil in the water. And this is not the oil company's first spill.

BP's Share Price Hits 14 Year Low

Jeff Neumann · 06/25/10 04:24AM

Shares in BP dropped to a 14 year low today on the London FTSE after the company announced that it had already spent $2.35 billion on the Gulf oil spill. Most of that money was spent on cleanup crews. [Guardian]

New Vatican Scandal: Amazingly Kid Free

Jeff Neumann · 06/20/10 11:50AM

Finally, a Vatican scandal that doesn't involve molesting children! Cardinal Crescenzio Sepe, and a former Italian Infrastructure and Transport Minister are being investigated for aggravated corruption in connection with shady real estate deals and multi-million euro kickbacks. Breathe easy, Pope.

Money to Burn

Jeff Neumann · 06/17/10 05:06AM

[Multinational oil giant BP's share price is up 9.8% in early trading on the London FTSE, a day after the company agreed to set up a $20 billion escrow account for Gulf oil spill victims. Dow Jones; image via AP]

BP Has a Friend In Goldman Sachs

Jeff Neumann · 06/15/10 05:12AM

Grab your pitchforks! Multinational oil company BP has reportedly hired financial advisors from Goldman Sachs to help with the "mounting liabilities" the firm is facing from the Gulf oil spill. BP has denied rumors it is going bankrupt.