Schroeder Seeks Controls on Hedge Funds
Chancellor Gerhard Schroeder said his government will seek unified international controls on hedge funds with other Group of Eight and European countries.
"We want stable financial markets," Schroeder said. "We need effective supervision and clearly improved transparency of the hedge fund market globally." He said he would speak out in favor of uniform minimum standards for hedge funds at the G-8 summit, to be held in Gleneagles, Scotland, July 6 to 8.
Airbus Wins Qatar Airways Order
Airbus, the world's largest commercial planemaker, won a Qatar Airways order for as many as 60 of its planned A350 planes. The deal, valued at as much as $10.6 billion, is the biggest sale yet of the aircraft. The order may be enough to assure Airbus's parent companies will commit $5.19 billion to develop the aircraft.
Regulators Open Antitrust Probe
European Union antitrust regulators opened probes of energy utilities, insurers and banks to hunt for evidence that companies are thwarting competition rules to inflate prices. The European Commission said the inquiries, which don't yet target any individual companies, will determine why market-opening legislation has failed to spur cross-border competition.
OPEC Backs Higher Quotas
The Organization of Petroleum Exporting Countries may increase output for the second time this year as prices stay above $50 a barrel. Oil ministers from Saudi Arabia, Kuwait, United Arab Emirates and Nigeria said they would support increasing quotas.
Compiled from staff and news service reports.