The Commodity Futures Trading Commission proposed a new rule that will give the watchdog agency greater oversight over market manipulation.
The proposal comes as momentum gains in Congress for more-stringent oversight of energy markets, particularly over-the-counter, or OTC, and hedge-fund trading.
COMMODITY COPS
Price per MMBtu First of the Closing Prices Same Period
Month Price 6/22/07 One Year Ago
New York Mercantile Exchange
You've heard of the poker game Texas Hold 'Em. Around here, a version called Chicago Hold 'Em has been going on since March. The game hits an intense point this weekend.
Chicago Hold 'Em involves the fate of the Chicago Board of Trade (BOT). Will it be sold to the Chicago Mercantile Exchange (CME) or will the shareholders spike the deal, trusting that higher offers will come from the Merc or IntercontinentalExchange (ICE) or somebody else? ICE first countered the Merc's offer in March, and hasn't received the endorsement of CBOT directors, but has been useful to CBOT execs nevertheless. ICE's bidding forced the Merc to raise its offer twice.
Now the Merc must decide whether to leave its $10 billion worth of chips on the table or throw more into the pile. We're in a period of serious staring and jabbering by the players.
Have you seen what it costs for a gallon of milk these days?
Although I don’t drink it as much as I did growing up, I still love milk (even the fat free stuff I have to drink at home.)
There’s nothing better than dunking a chocolate chip cookie into a tall glass of cold milk. Or drinking the sugary “leftover” milk after a bowl of Alpha-Bits.
LOUISVILLE, Ky. -- Before the dinnertime rush, Larry Lewis was chewing over business strategy at the Fat Jimmy's pizzeria he manages. The store had absorbed sharply rising cheese prices as long as possible.
It was time to increase the price on pizzas and pass along some of the expense that had been eating into profits the last few months.
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Rising cheese costs eating pizza makers' profits (original) - 6/24/2007
Business Minute: Stocks plunge...Oil prices top $69...Fed meeting on the schedule (original) - 6/24/2007
Crude oil prices dip, gas eases (original) - 6/24/2007
Inflation worries send stocks tumbling (original) - 6/24/2007
Pizza makers hit with higher cheese prices (original) - 6/24/2007
Saturday BusinessMinute (original) - 6/24/2007
Pizza Makers Face Higher Cheese Costs (original) - 6/23/2007
Stocks End Lower on Investor Worries (original) - 6/23/2007
Stocks fall sharply as subprime problems, inflation, rising oil stir investor concerns (original) - 6/23/2007
Stocks Drop On Interest Rate Concerns (original) - 6/23/2007
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