
MARK WILSON / Getty Images
Walter Lukken (left), acting chairman of the Commodity Futures Trading Commission, told a Senate committee yesterday that his agency was seeking more trading data from exchanges in the United States and abroad. |
Oil speculators targeted
Lawmakers looking at role investors play in driving up prices
By Jad Mouawad
NEW YORK TIMES NEWS SERVICE
With Americans growing angrier by the day about high gasoline prices, nobody can accuse Congress of turning a deaf ear. Today lawmakers will hold their 40th hearing so far this year on the cause of high oil prices. Filing bills on Capitol Hill to combat the problem is becoming a cottage industry, with clever names such as the Prevent Unfair Manipulation of Prices Act, or PUMP Act, and the No Excuses Energy Act.
Housing troubles reaching to coast
Defaults, foreclosures still high across county
By Roger Showley
STAFF WRITER
San Diego County foreclosures and defaults remained at historically high levels last month, with troubles spreading to previously untouched coastal markets, DataQuick Information Systems reported yesterday.
Dow Chemical to raise prices again
20% jump in May not enough, company says
By Abha Bhattarai
NEW YORK TIMES NEWS SERVICE
The Dow Chemical Co. said yesterday that it was raising prices for the second time in a month to offset a “relentless rise” in energy costs, a sign that companies may increasingly have to pass on price increases to their customers.
Consumer confidence is in free fall
View on economy hits lowest level since 1992
By Ellen Simon
ASSOCIATED PRESS
NEW YORK – U.S. consumers are the gloomiest they've been since the tail end of the last prolonged recession. Inflation, sinking home values and soaring gas prices have pushed confidence to the lowest level since 1992. Consumers' view of the economic future has never been lower, raising worries that already weak consumer spending could deteriorate further.
Tennessee insurer fined in S.D. kickback probe
By Jonathan Sidener
STAFF WRITER
Tennessee insurance company Unum Group will pay a $5.5 million fine as a result of a federal investigation of kickbacks paid to a San Diego insurance broker, according to the U.S. Attorney's Office. The San Diego company, which prosecutors have not named, received millions of dollars in kickbacks disguised as items such as requests for proposals, communications and enrollment fees.
Major law firm under review for immigrant-hiring advice
By Suzanne Gamboa
ASSOCIATED PRESS
WASHINGTON – The nation's largest immigration law firm is under federal scrutiny over whether it helped major U.S. corporations disqualify American job applicants and give thousands of high-paying positions to immigrants.