Calling it the strongest consumer protections in history, President Obama has put his signature on a financial reform law that creates a new Bureau of Consumer Financial Protection to regulate products ranging from credit cards to mortgages. The measure is also designed to put new limits on some of the financial practices that dragged the nation into recession, but it’s unclear whether it will win points from voters still concerned about unemployment and high deficits. Source Link
BP is turning some of its assets into cash to help foot the bill for the clean-up of that oil spill in the Gulf of Mexico. The company will get $7 billion from the sale of exploration and production facilities in North America and Egypt. BP says it’s already spent nearly $4 billion on the oil spill that began three months ago when an offshore rig exploded in the Gulf, killing 11 persons and rupturing an underwater well. Source Link
As the Atlantic hurricane season moves into full gear, a private weather forecaster says it expects slightly fewer named storms. WSI Corporation now predicts 19 named storms, but says the East Coast from the Carolinas to Maine will stand the same risk as does Florida and the Gulf coast, with record warm water temperatures and wind conditions that are ideal for creating hurricanes. Source Link
BP is turning some of its assets into cash to help foot the bill for the clean-up of that oil spill in the Gulf of Mexico. The company will get $7 billion from the sale of exploration and production facilities in North America and Egypt. BP says it’s already spent nearly $4 billion on the oil spill that began three months ago when an offshore rig exploded in the Gulf, killing 11 persons and rupturing an underwater well. Source Link
As the Atlantic hurricane season moves into full gear, a private weather forecaster says it expects slightly fewer named storms. WSI Corporation now predicts 19 named storms, but says the East Coast from the Carolinas to Maine will stand the same risk as does Florida and the Gulf coast, with record warm water temperatures and wind conditions that are ideal for creating hurricanes. Source Link
