U.S. Consumer Confidence Rises For Second Straight Month

Luxury electric car manufacturer and Wall Street darling Tesla announced 3rd quarter earnings yesterday that contained mixed results. The company reported a record 5,500 Model S deliveries, which beat its own expectations, but the financials were mixed. “The company’s earnings, excluding special charges, came in at $16 million, or 12 cents a share, just ahead… Keep reading →

It appears increasingly likely that Venezuelan President Hugo Chavez will not return to power following his latest cancer treatment in December and analysts are considering the implications of a post-Chavez regime for one of the largest crude oil producers in the world.

Venezuela holds some of the world’s largest oil reserves and is the second largest Opec oil exporter to the US. Oil revenue accounts for a bulk of the government’s income and has largely been used to fund Chavez’s wide-ranging social programs. But the country’s oil industry – which is essentially state-owned company PDVSA – has been struggling with declining production rates at mature fields, along with other problems. Keep reading →

Venezuelan President Hugo Chavez said Sunday that his government should pull out of a World Bank-affiliated arbitration body and won’t recognize its decisions. Exxon Mobil Corp. is one of more than a dozen companies with arbitration cases against Venezuela pending before the World Bank-affiliated International Centre for Settlement of Investment Disputes, or ICSID. Chavez announced his decision while referring to a more than $900 million award that Exxon Mobil recently won in another arbitration case before the International Chamber of Commerce. This article is a linkout from DailyFinance: