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Oil prices tumble on economy worries

Oil prices tumbled today on new signs that the economy remains weak and that demand for crude is still tepid at best. Benchmark crude for April delivery fell $2.80 to $77.20 a barrel on the New York Mercantile Exchange. The contract rose $1.14 to settle at $80 on Wednesday.

Stanford Antiguan liquidators get U.K. assets, court says

R. Allen Stanford's Antiguan liquidators should have control of 120 million pounds ($184 million) in U.K. assets seized in a fraud probe, a British appeals court ruled.

Fed to look into insurance contracts on Greek debt

Federal Reserve Chairman Ben Bernanke told lawmakers today that the central bank is looking into Goldman Sachs and other Wall Street firms' use of a sophisticated investment instrument to make bets that Greece will default on its debt.

Durable goods orders rise 3 percent in January

The Commerce Department reported today that orders for durable manufactured goods jumped 3 percent in January, the biggest increase since a 5.8 percent increase last July. However, excluding transportation, durable goods orders fell by 0.6 percent, a weaker showing than economists had expected.

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Houston, TX 77210
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Business editor:
Laura Goldberg
laura.goldberg@chron.com

Assistant business editors:
Mark Babineck
mark.babineck@chron.com

Don Mason
don.mason@chron.com


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