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Business News Archive - June 25, 2008

By Jon Hilkevitch, Chicago Tribune Jun.

By Sebastian Abbot JIDDAH, Saudi Arabia - Facing strong U.S. pressure and global dismay over oil prices, Saudi Arabia said Sunday it will produce more crude this year if the market needs it. But the vague pledge fell far short of U.S.

By The Associated Press NEW YORK (AP) - Oil prices rose Monday on disappointment over Saudi Arabia's modest production increase and concerns that output from Nigeria will decline.

By The Associated Press WASHINGTON (AP) - Straddling risky economic crosscurrents, the Federal Reserve is expected to stand still this week on interest rates.

By Manju V NEW DELHI/MUMBAI: It has taken about a decade for air travel to come a full circle in India. A Delhi-Mumbai ticket sold in the range of Rs 7,000 about a decade back. That figure looks like it has crawled back into the Indian economy-class flier's calculations.

NEW DELHI: Passengers of a Virgin Atlantic flight had to wait for over 20 hours before their flight finally took off for London on Sunday morning. The flight, that was to have left on Saturday afternoon, was apparently delayed due to a "technical snag".

NEW DELHI: Gone are the days when there used to be a mad scramble to get Rs 99 tickets to Bangalore or bid online for Re 1 tickets to Chennai. Such tickets just don't exist anymore.

NEW DELHI: The news of the steep hike in air fares may not be music to your ears but Indian Railways officials are grinning from ear to ear.

T He queues at the petrol pumps have subsided but the headlines now warn us of the economic doom that is to follow. It appears the higher cost of food and fuel is here to stay and will take its toll not just nationally, but globally.

By Martha Irvine CHICAGO - Like a lot of people, Nate Towne is cutting back on spending. He's carpooling to work and only shops at grocery stores that take coupons or offer discount "rewards" cards.

Word of the Day
holluschickie
  • A 'bachelor seal'; a young male seal which is prevented from mating by its herd's older males (mated bulls defending their territory).
This comes from the Russian word for 'bachelors.'
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