New York City drivers will wake up on Friday to the first widespread gas rationing since the fuel crisis of the 1970s, as the U.S. Northeast struggles to recover from the devastation of Superstorm Sandy and a subsequent snowstorm. … [Read more...] about Gas rationing expands as Sandy, Nor’easter effects linger
Jersey financial services commission
Sandy, one of the biggest storms ever to hit the United States, battered the nation's eastern seaboard on Tuesday, swamping New York City streets with record levels of floodwater, blacking out power to millions of people and bringing transportation to a halt through much of the region. … [Read more...] about New York paralyzed as Sandy slams into eastern U.S.
Agriculture seeks to gain growth momentum Attention is now being paid to aquaculture, which is considered a spearhead for exports. The 560 thousand ha shrimp farming area in the Mekong delta is increasing its output. Deputy Minister of Agriculture and Rural Development Vu Van Tam stressed the need improve the quality of brine shrimps. "The tiger prawns can be sold in many markets, but white-leg shrimps face stronger competition. So we need to improve their quality and reduce prices. Exported shrimps should be free from antibiotics, residues, and banned chemicals. Efforts should be made boost trade promotion and expand the markets," he said. Vegetables and fruits have also posted high growth of 37%. Experts say cultivation areas and crops should be expanded and product quality, safety and hygiene should be ensured. Major products, including dragon fruits, mangoes, durians, longans, rambutans, litchis, and bananas need more attention. Ho Xuan Hung, President of the General … [Read more...] about BUSINESS IN BRIEF 26/7
Lord knows we’ve had more than enough scandals ginned up by Wall Street over the years, and the message that banking executives proclaim after each is: “Don’t worry, we’ve learned that lesson, and it will never happen again.” Which is how we got to the recent spectacle of Jamie Dimon, the chief executive officer of JPMorgan Chase & Co., testifying twice before Congress that although the bank’s chief investment office was taking huge proprietary risks with some $350 billion of its depositors money -- and lost $3 billion (and counting) by making a bunch of risky bets on an obscure, thinly traded derivatives contract -- everything is now fine and dandy because the unjustifiable gambling has been stopped dead in its tracks. We were, of course, told pretty much the same thing after the collapse of the junk-bond market in the 1980s, the collapse of the Internet initial-public-offering market in the 1990s, the collapse of the telecom debt market in … [Read more...] about How banks scam counties into bankruptcy