U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer. "Five years ago, if I or anyone had predicted today's production growth, people would have thought we were crazy," says one expert.
Despite financial turmoil in Europe and disasters in Japan, the world's largest corporations had record profits and revenue in 2011. Where on Earth will the growth come from next?
Just because the economy is growing does not mean investors should abandon high-paying dividend stocks in favor of growth names, says Oliver Pursche, co-portfolio manager of GMG Defensive Beta Fund. Here are three that he recommends.
Seven companies involved in the oil and gas industries will pay the U.S. government a total of $236.5 million to settle corruption charges. An investigation by the SEC and the Justice Department alleges that the companies bribed overseas officials to lower customs duties, extend drilling contacts and streamline the permit process for oil drilling.
Interbrands' latest annual ranking of brand value once again has Coca-Cola as No. 1. But rising three spots within the Top 10 is Google. Now in the fourth spot, the search giant trails archrival Microsoft by only one rung on the brand-value ladder.
Four of the world's largest oil companies are forming a joint venture to create a rapid-response system to capture and contain oil spills in the deep waters of the Gulf of Mexico.
As oil continues to gush into the Gulf of Mexico from BP's damaged well, the federal government is pouring a bit more money into alternative energy sources with a grant to groups working on turning algae into a commercially viable fuel.
Oil giant Royal Dutch Shell is making a major diversification play, buying up most of East Resources, one of the largest independent natural gas companies in the Eastern U.S.
As Australia continues to show strong signs of an economic recovery driven largely by Chinese demand for natural resources, its central bank raised interest rates for the fourth time since October. The Reserve Bank of Australia's key cash rate now stands at 4%.
