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Mark Brooks

TheAssocPress

Recent Articles by Mark Brooks

Mar 26, 2013 by Mark Brooks

Oil Rises on Auspicious U.S. Economic Data

By early afternoon in Europe, benchmark crude for May delivery was up 90 cents to $95.71 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.10 on Monday.

Mar 26, 2013 by Mark Brooks

Cyprus Businesses Hurt as Banks Stay Shut

All but two of the country's largest lenders had been due to reopen Tuesday, after being shut since March 16 while politicians figured out how to raise the funds necessary for Cyprus to qualify for an international bailout.

Mar 25, 2013 by Mark Brooks

Bernanke: Low-Interest-Rate Policies Benefit Trade

In a speech at the London School of Economics, Bernanke staunchly defended the Fed's policies and similar stimulus efforts pursued by other central banks since the 2008 financial crisis.

Mar 25, 2013 by Mark Brooks

Rig Worker: Training Saved Lives After BP Blowout

David Young, who was second-in-command to the rig's captain, said he believes 115 workers managed to escape the burning rig that BP had leased from Transocean because they followed their training.

Mar 25, 2013 by Mark Brooks

Oil Hits Five-Week High on Cyprus Financial Bailout

Benchmark crude for May delivery rose $1.10 to finish at $94.81 a barrel on the New York Mercantile Exchange. That's the highest New York closing since Feb. 20.

Mar 25, 2013 by Mark Brooks

Cyprus Central Bank to Impose Capital Controls

All banks except the Bank of Cyprus and Laiki are due to reopen on Tuesday morning. President Nicos Anastasiades did not specify what limitations would be imposed on transactions.

Mar 25, 2013 by Mark Brooks

Top EU Official: Cyprus Bank Rescue Is a New Template

Banks' owners and investors must be held responsible "before looking at public money or any other instrument coming from the public side," said Jeroen Dijsselbloem, who chairs the Eurogroup gatherings of the 17 eurozone finance ministers.

Mar 25, 2013 by Mark Brooks

Trouble From Cyprus Deal Could Linger for Eurozone

As well as signing off on a 10-billion-euro ($12.94 billion) rescue loan, the deal includes a far-reaching restructuring of the country's two largest banks, which were insolvent.

Mar 25, 2013 by Mark Brooks

Euro Falls After Cyprus Gets Bailout

The euro fell to $1.2866 in afternoon trading, from $1.2983 late Friday, after rallying earlier in the day on the bailout plan.

Mar 25, 2013 by Mark Brooks

Most Cypriot Banks to Reopen Tuesday

Laiki and Bank of Cyprus will remain closed until Thursday, and a withdrawal limit from ATMs of 100 euros ($130) a day will also remain in place until then, the bank said.

Mar 25, 2013 by Mark Brooks

Cyprus Reaches "Painful" Solution to Secure Rescue

Without that funding, Cyprus' banks would have collapsed, dragging the economy down with them and threatening the small Mediterranean island's membership of the 17-strong group of European Union countries that use the euro -- all of which would have sent the EU's markets spinning.

Mar 24, 2013 by Mark Brooks

Cyprus Secures Bailout, Avoids Bankruptcy

The finance ministers of the 17-nation eurozone accepted the plan reached in 10 hours of negotiations, the diplomats said.

Mar 22, 2013 by Mark Brooks

Senate Democrats Work to Pass Budget

The nonbinding but politically symbolic measure caters to party stalwarts on the liberal edge of the spectrum just as the House GOP measure is crafted to appeal to more recent tea party arrivals.

Mar 22, 2013 by Mark Brooks

U.S. Rig Count Falls 30 This Week to 1,746

1,324 rigs were actively exploring for oil and 418 for gas.

Mar 22, 2013 by Mark Brooks

France to Alter Plans to Raise Taxes on Ultra-Rich

France's highest court had already thrown out the 75-percent rate, and a high-level advisory council agreed.

Mar 22, 2013 by Mark Brooks

Fitch Puts UK on Review for Downgrade

Fitch Ratings said it was putting the U.K. on "rating watch negative" -- indicating a heightened probability of a downgrade in the near term -- and that it expects to complete its review by the end of April.

Mar 22, 2013 by Mark Brooks

Is the Cash Register Ringing Its Last Sale?

Stores across the country are ditching the old-fashioned, clunky machines and having salespeople -- and even shoppers themselves -- ring up sales on smartphones and tablet computers.

Mar 22, 2013 by Mark Brooks

Euro Rises on Cyprus' Hopes for Bailout Plan

The euro rose to $1.2986 in afternoon trading from $1.2922 late Thursday.

Mar 22, 2013 by Mark Brooks

Senate Democrats Vote to Repeal Part of Health Care Law

That's what happened Thursday night when the Senate voted 79-20 to repeal a 2.3 percent sales tax on medical devices such as catheters, pacemakers and MRI machines.

Mar 22, 2013 by Mark Brooks

Cyprus to Vote on New Plan; Europe Skeptical

Cyprus needs to find a way to raise the 5.8 billion euros to qualify for 10 billion euros in rescue loans from other eurozone countries and the International Monetary Fund.

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