Marketplace Morning Report for Wednesday November 12, 2014
Financial regulators from the U.S., Britain and Switzerland today imposed penalties on five banks for letting their traders work to manipulate foreign exchange markets, pounds to dollars, euros to pounds, and so forth. We take a look at what regulators suggest is price-fixing in action. One big bank not named in that foreign exchange scandal is Goldman Sachs. Every two years Goldman names its newest partners. Today is that day. And as we find out, the title comes with perks. Plus, the International Energy Agency has a new report today that warns the current boom in American shale oil hides other threats to the world supplies of oil. The agency is worried about global demand outstripping supply in the next 25 years, and an over-reliance on fewer producers. The shale oil boom has other by-products and not just making the fossil fuel outlook seem rosier than it may be. Hydraulic fracturing or fracking uses fluid pumped into rock to liberate oil and gas. But what do you do with the used fluid?
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Financial regulators from the U.S., Britain and Switzerland today imposed penalties on five banks for letting their traders work to manipulate foreign exchange markets, pounds to dollars, euros to pounds, and so forth. We take a look at what regulators suggest is price-fixing in action. One big bank not named in that foreign exchange scandal is Goldman Sachs. Every two years Goldman names its newest partners. Today is that day. And as we find out, the title comes with perks. Plus, the International Energy Agency has a new report today that warns the current boom in American shale oil hides other threats to the world supplies of oil. The agency is worried about global demand outstripping supply in the next 25 years, and an over-reliance on fewer producers. The shale oil boom has other by-products and not just making the fossil fuel outlook seem rosier than it may be. Hydraulic fracturing or fracking uses fluid pumped into rock to liberate oil and gas. But what do you do with the used fluid?
