BP to Pay $25 Million as Penalty for Alaskan Oil Pipeline Spill in 2006

On May 3, BP Exploration Alaska, Inc. made an agreement to pay $25 million as a penalty to Alaska.  This penalty came to BP as a result of spilling more than 5,000 barrels of crude oil from its pipelines on Alaska’s North Slope in 2006. About $20 million of the fee that BP is required to pay will go to Oil Spill Liability Trust Fund, and the remaining amount will be put into the US Treasury.
The cause of the spill was corrosion of BP’s pipeline.  The Alaskan government filed suit against BP in Anchorage federal court in March 2009 for inadequate maintenance.
Representation for BP was given by Randal Buckendorf, chief counsel, as well as outside counsel Carol Dinkins, who is from Vinsen & Elkins Houston office.
According to Ignacia Moreno, assistant attorney general for the Justice Department’s Environment and Natural Resources Division, “This penalty should serve as a wake-up call to all pipeline operators that they will be held accountable for the safety of their operations…”
It has already cost BP $200 million to replace the leaky pipelines, and according to the settlement yesterday, it is now required to develop a program that is system-wide to manage the integrity of its 1,600 miles of pipeline on the North Slope of Alaska, which will cost about $60 million more.
Since the spill in 2006, BP also paid a criminal fine of $20 million after pleading guilty in 2007 to a misdemeanor violation of the Clean Water Act.

BP to Pay $25 Million as Penalty for Alaskan Oil Pipeline Spill in 2006

Sony Ericsson Xperia Mini and Xperia Mini Pro Android 2.3 (Gingerbread) Smartphone Announced

ony Ericsson revealed plans to introduce its second generation with two new Xperia minis: the Xperia Mini and Xperia Mini Pro smartphone.
The new Xperia mini line has two options: the standard version, and the "pro" version which has a slide-out keyboard. In many other respects, however, these devices have undergone quite a bit of change.
In the first place, because they have a bigger 3.0" screen, the Xperia Mini is actually slightly larger than the previous generation. The width and thickness have remained the same across generations, however.

Secondly, the screen resolution has been bumped up from 240 x 320 (QVGA) to 320 x 480 (HVGA), an improvement which coincides with the improved 720p 5 megapixles video camera capability of the device. Sony Ericsson says the Xperia Mini will be the smallest HD-capable Android smartphone available.
Finally, it has been equipped with a 1GHz Qualcomm Snapdragon processor and Android 2.3 (Gingerbread).
Xperia Mini is a GSM-compatible device, with support for HSPA (900/2100) and GPRS/EDGE (850/900/1800/1900) or HSPA (850/1900/2100) and GPRS/EDGE (850/900/1800/1900).

Sony Ericsson Xperia Mini and Xperia Mini Pro Android 2.3 (Gingerbread) Smartphone Announced

Interest Rates Outlook Causes Weekly Slump of Dollar, Forex

The US dollar was performing terribly this week against both commodity and safe currencies among signs of economic growth and on speculation that the Federal Reserve will lag with an increase of the interest rates.

Interest Rates Outlook Causes Weekly Slump of Dollar, Forex

Icelandic Kronur: Lessons from a Failed Carry Trade

A little more than two years ago, the Icelandic Kronur was one of the hottest currencies in the world. Thanks to a benchmark interest rate of 18%, the Kronur had particular appeal for carry traders, who worried not about the inherent risks of such a strategy. Shortly thereafter, the Kronur (as well as Iceland’s economy and banking sector) came crashing down, and many traders were wiped out. Now that a couple of years have passed, it’s probably worth reflecting on this turn of events.

Icelandic Kronur: Lessons from a Failed Carry Trade

Forex Win to Loss Ratios

It has been observed that majority of the individual traders in the Forex market function with no trading technique; hence over the longer period of time, they incur high losses. A Forex trading system or tactic is gear to present you an upper hand in the Forex market.

Better to Work with a Systematic Approach

A Forex trading system verifies whether you are earning profit or not in a Forex market. If you make your trading in a methodical manner then your win to loss ratios will be better than the other traders or investors.

Good Trading System

An excellent trading system is that which has already been evaluated by the investors; hence it has an upper hand in the market and also deliver reasonable amount of earning on continuous basis. A gainful and money making Forex system may have win to loss ratio (the percentage of trades with winning to the trades with losing) of 80 percent.

On the other hand the profit/loss ratio on the volume of the standard win to the volume of standard loss may be 2-3 to 1. You can promptly discover that the mishmash of win/loss and profit/loss proportions (renowned as profitability ratio) enlightens you that the system is money making or not.

How Profitability of System can be Determined?

If you proliferate, the sum of profitability ratio must be more than one. Till the time you get this figure more than one, the system is gainful. Preferably the bigger figure is better

Forex System with High Win/Loss Ratio

You can work with more personal involvement with the system that exhibit high win/loss ratio. Besides that the big profit loss proportion presents worthwhile outcome of trading activities, even though you are not making ample sum to enhance the market liquidity.

Finally, it is the amalgamation of both the profit/loss and the win/loss proportions that are truly important. You must therefore, make an endeavor to look for the system in which mutually these factors are high.

What is PIP?

Forex Win to Loss Ratios

Forex Markets Focus on Central Banks

Over the last year and increasingly over the last few months, Central Banks around the world have taken center stage in currency markets. First, came the ignition of the currency war and the consequent volley of forex interventions. Then came the prospect of monetary tightening and the unwinding of quantitative easing measures. As if that wasn’t enough to keep them busy, Central Banks have been forced to assume more prominent roles in regulating financial markets and drafting economic policy. With so much to do, perhaps it’s no wonder that Jean-Claude Trichet, head of the ECB, will leave his post at the end of this year!

Forex Markets Focus on Central Banks

Time to Short the Euro

Over the last three months, the Euro has appreciated 10% against the Dollar and by smaller margins against a handful of other currencies. Over the last twelve months, that figure is closer to 20%. That’s in spite of anemic Eurozone GDP growth, serious fiscal issues, the increasing likelihood of one or more sovereign debt defaults, and a current account deficit to boot. In short, I think it might be time to short the Euro.

Time to Short the Euro