Oil at $60 a Barrel

The price of oil is still worrying investors and airlines worldwide with the price of barrel touching $60USD on Friday. The latest major airline to announce a ticket price rise is the UK carrier British Airways. The Guardian newspaper reported that the airline will rise their long haul flights fuel surcharge from 16 pounds to 24 pounds.
Hybrid cars are looking more enticing by the day.
Oil touches $60, U.S. demand steams ahead
"Rapidly rising consumption in the United States, the world's biggest consumer, threatens to strain oil supplies and refining capacity when demand peaks this winter.
The potential for a fourth quarter supply crunch has prompted hedge funds and speculators to bet on a push to new records, traders said.
'The big message this week was that demand is still staying strong in the face of high oil prices,' said Tony Nunan, manager at Mitsubishi Corp.'s international petroleum business in Tokyo."
reuters

Ameritrade buys TD Waterhouse

The competitive online brokerage industry is doing a little consolidating, with Ameritrade to buy the rival online broker TD Waterhouse. Ameritrade recently rejected an offer by the online broker E-Trade, and has now strengthened its position in the market, becoming the largest online stock broker that will do an average of 239,000 trades per day and will have an estimated 5.9 million accounts.
The deal should be finalized in 6 months, with Ameritrade Chief Executive set to head the TD Waterhouse and Ameritrade merged company. Joe Moglia said "Where we were strong, we are now going to be stronger".

Mikhail Khodorkovsky Verdict

Russian oil magnate Mikhail Khodorkovsky gets a nine year prison sentence for charges of fraud and conspiracy brought against him by the Russian government, lead by Vladimir Putin. Khordorkovsky was once Russia's richest man.. something that will give him no comfort while he takes a break for 9 years.
Among the critics of the trial, American President Bush was quoted as saying that "it looked like he had been judged guilty prior to having a fair trial".
Verdict in Russia
Russians who still hope to see their country join the community of democratic nations are reduced to predicting that Mr. Putin's policies are self-destructive. They may be right: Already, decision making by Mr. Putin's small and insular circle has been hamstrung by a lack of reliable information and constructive criticism, and bureaucrats emboldened by his lawless dismantlement of Mr. Khodorkovsky's giant company are engaged in a free-for-all of graft and extortion. Mr. Putin launched his attack on Mr. Khodorkovsky two years ago because he felt threatened by his growing economic clout and political ambition. He has destroyed the power and checked the ambition; Mr. Khodorkovsky may be in jail for the next two Russian presidential elections. Yet Mr. Putin has grown weaker. He has eliminated his rivals -- but also the chance that he will lead a country capable of thriving in the global economy, or a government worthy of the world's respect. washington post