Why oil prices haven't gone crazy

Bloomberg Businessweek: The oil markets have plenty of reasons to be spooked. Political chaos and violence are keeping 3.5 million barrels of daily oil production off the market, according to estimates by Citigroup. Yet through all the turmoil, oil markets have been strangely complacent. The price of Brent crude oil, the most traded oil contract in the world, fell from $110 a barrel on April 24 to $107 on May 6.


Apple to unveil iPhone 6 in August, earlier than expected

Reuters: Apple Inc. will unveil the next incarnation of its popular iPhone series in August, one month earlier than industry watchers were generally expecting, Taiwanese media reported on Friday citing unidentified supply-chain sources. A 4.7-inch screen version of the iPhone 6 will reach stores in August, the Economic Daily News reported without specifying which markets would receive the phone first.

 

RadioShack pulls back on size of store closings

The New York Times: RadioShack said Thursday that it could not come to an agreement with its lenders that would allow it to close 1,100 of its stores, although it said it would still shutter a number of outlets as part of its plan to turn around the struggling company. The company’s credit agreement allows it to close only 200 stores a year and up to 600 over the life of the agreement. RadioShack had been negotiating with its lender for approval to close nearly twice that total number.