The UK banking institution, Standard Chartered has decided to purchase the banking division of American Express Bank for about $1.1 billion in order to expand branch licenses in India and Taiwan an

Yahoo has bought news aggregator BuzzTracker, and also named its creator, Alan Warms as Yahoo News GM, VP.

BuzzTracker explores web sites and blogs for news items and arranges them according to topic. The company also provides its software to other business houses.
     
The online major (Yahoo) has acquired the company to swell its advertising span on the web. The financial details of the deal are not disclosed yet.

After fluttering at the peak for a number of days, yesterday, the U.S. crude oil prices closed above $80 per barrel for the first time.

For next month delivery, sweet crude added up 18 cents to close at $80.09 per barrel at the New York Mercantile Exchange (NYMEX).

The price had hit $80.15 during the session and $80.20 during the earlier electronic trading. But, it was the first closing in what one investor called unchartered territory.

Oil costs climbed to a record settlement price on Tuesday as dealers anticipated the administration inventory to confirm tight supplies.

The worries of a supply limit also disregarded OPEC’s resolution to increase output.

Market analysts were of the opinion that even after OPEC decision to boost up oil fabrication by 500,000 barrels per day starting November 1, supplies get stretched.

Washington: