Libya’s Crisis: Bad News for Oil Prices, Economic Recovery

Even before its outcome is known, Libya’s uprising could leave an indelible mark on the world economy: oil prices have rocketed since Tuesday and could rise even further amid the continuing turmoil that has prompted thousands of foreign oil workers to flee. Libya’s oil output, typically 1.7 million barrels a day, has fallen by more than half since Tuesday, and its energy exports have ground to a complete halt

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Pink-Slip Trips: Get Laid Off, Go on Vacation

When Megan Maciejowski was laid off from her job at an investment bank at the end of 2008, she cleaned out her desk, retreated to her Venice Beach, Calif., apartment and started sprucing up her resume. Then the 33-year-old set aside some of her severance package and arranged to spend February in artsy San Miguel de Allende, Mexico. Her goals for the trip were simple: to take an immersive Spanish class, do some painting, experience a new culture and generally relax

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The Case for Letting AIG Fail

There’s an uproar about whether the government should let AIG fail, a debate re-energized by the latest revelation of bonus payments going to AIG’s executives. In fact, there’s a good case to be made that AIG should fail, and it has nothing to do with bonuses. The rescue of AIG is warping the banking system and unnecessarily extending the credit crisis.

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England cricket board severs Stanford links

The England and Wales Cricket Board have confirmed they have terminated all contractual links with Sir Allen Stanford — the Texan billionaire charged with an alleged nine billion dollars fraud by the Securities and Exchange Commission. All negotiations between the ECB and Stanford were immediately suspended when the news broke on Tuesday — and the governing body has now formally announced they will not play any further Stanford Twenty20 matches in Antigua as well as shelving plans for the Quadrangular Twenty20 events, which were due to start at Lord’s in May.

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