This week’s Treasury bill auctions have produced a little surprise: the three year notes were sold easily, but a day later the five years notes were less well accepted. The result was that five year interest rates rose slightly — the Government had to settle for higher interest rates in order to attract enough buyers […]

The CEO’s of the major oil companies are being grilled in Washington by a variety of lawmakers intent on attacking what they see as ‘excess’ profits. The gist of their accusation is that the companies have reaped excess profits and are either passing it back to shareholders or hoarding cash, rather than investing in new […]