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Tuesday, April 17, 2007

News You Can Use for Tuesday

Australia Shares Fall From Record High, Led by BHP; Commonwealth Bank, Westpac Climb Australian stocks fell, retreating from a record high, as some investors judged recent gains excessive. BHP Billiton Ltd. led declines.

Biofuel Shares Downgraded to `Cautious' by Goldman Sachs on Corn Prices Shares of biofuel companies were lowered to ``cautious'' from ``neutral'' at Goldman, Sachs & Co. on concern share prices overstate earnings prospects and the companies will be hurt by higher corn costs.

Crude Oil Climbs on Speculation Gasoline Consumption to Increase in U.S Crude oil climbed in New York on speculation demand for fuel is increasing before the summer driving season.

Chicago Wheat Futures Rise to 7-Week High on Concerns About U.S. Crops Chicago wheat futures rose to a seven-week high after U.S. government reports showed worsening winter crop conditions and spring wheat planting delays in the world's biggest exporter. Corn prices also gained.

Iran, Iraq, Kuwait 'raise May crude oil prices' Iran and Iraq have raised the May crude oil prices for its three main export products to all markets, while Kuwait upped its export formula for Far East clients, the Middle East Economic Survey reported Monday.

Global warming may put U.S. in hot water Especially in the Southwest, regions will need to find new sources of drinking water, the Great Lakes will shrink, fish and other species will be left high and dry, and coastal areas will on occasion be inundated because of sea-level rises and souped-up storms, U.S. scientists said.

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