Thursday, October 9, 2008

News Update

Oil falls $2 as demand concerns outweigh OPEC

NEW YORK, Oct 9 (Reuters) - Oil prices fell more than $2 to below $87 a barrel on Thursday as expectations that the financial crisis could further slow demand outweighed calls by some OPEC members to cut output to prop up prices. READ MORE>>>

French author wins Nobel Prize

Le Cle{aac}zio's first novel, Le Proces Verbale (The Interrogation), published when he was just 23, was short-listed for the Prix Goncourt and won the Prix Renaudot. It made him an instant star in the French literary firmament, from which he kept his distance, saying in a 1965 interview, ''Not sure yet if writing is a good manner of expression''. READ MORE>>>

Nigeria official says innocent in $40 mln graft case

LAGOS, Oct 9 (Reuters) - A senior official from Nigeria's oil-producing Niger Delta pleaded not guilty on Thursday to embezzling $40 million in public funds, in a corruption case being closely watched by militants in the restive region. READ MORE>>>