Oil price declines

The price of oil fell 50 cents to $93.65 a barrel as traders concerned about global energy demand took profits ahead of economic data from China and the United States. Analysts said traders took profits before May unemployment data is released today in Washington, which should help clarify the state of the recovery in the world's biggest economy.

MGM scrutiny

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The chairman of the Massachusetts Gaming Commission is promising full scrutiny of MGM Resorts' plan for an $800 million casino in Springfield. MGM is competing with the Mohegan Sun in Palmer and Hard Rock International in West Springfield.

Storm insurance

Property insurance rates keep rising in Florida even though nearly eight years have passed since a hurricane hit. Florida's Office of Insurance Regulation has been approving more than 100 rate hike requests a year since 2009, including requests to hike rates by double-digits.

Bausch buyout

Canadian drugmaker Valeant Pharmaceuticals said it will pay $8.7 billion to buy Bausch + Lomb, a well-known maker of contact lenses, in a massive expansion of Valeant's smaller ophthalmology business. Investment firm Warburg Pincus, which leads an investment group that owns Bausch + Lomb, will receive $4.5 billion in cash.

Markets mostly higher

With U.S. markets closed, world stocks ended Monday mostly higher — with Japan the notable exception as the Nikkei sold off sharply for the second time in a week. The decline came after Bank of Japan Governor Haruhiko Karoda said Japanese interest rates could rise without causing instability.

GE backs fracking

One of America's corporate giants is investing billions of dollars in the new boom of oil and gas drilling, or fracking. General Electric Co. is opening a new laboratory in Oklahoma, buying up related companies, and placing a big bet that cutting-edge science will improve profits for clients and reduce the environmental and health effects of the boom.

North Korea salaries

North Korea relaxed state control of salaries last month, a government economist said, to boost production by giving companies latitude to provide workers with financial incentives. Until recently, most salaries were set by the state.

No health choice

Consumer and small business advocates in New Hampshire are disappointed but not surprised that only one company plans to sell insurance through the new online marketplaces required under President Barack Obama's health care overhaul. The insurance department confirmed that Anthem Blue Cross/Blue Shield of New Hampshire is the only insurer that has applied to sell individual or small group plans.

Jobs up north

A small town in Germany that once was a pilgrimage site for neo-Nazis is now welcoming jobless foreigners with open arms. Wunsiedel, the burial place of Adolf Hitler's deputy Rudolf Hess, needs to recruit outsiders because the town's population is shrinking.

Bild pay wall

Europe's top-selling newspaper said it will introduce a paywall for part of its online offerings starting next month. German tabloid Bild said the basic digital subscription will cost $6.50 per month and twice that for a premium version.

Amazon strike

Amazon's German workers are staging a short-term strike in a push for higher wages. The union is pushing the online retailer to adopt wage agreements that could mean as much as $11,700 more annually.


Five years as Ocean County bureau chief, 12 years as regional news editor (not continuous), 10 years as copy editor (also not continuous), all at The Press of Atlantic City.

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